Objective

An online health insurance policy that aims to cover a family on a floater sum basis against basic hospitalisation expenses along with 10 major critical illnesses on an optional basis.

Suited for

Anyone upto 60 years of age can enter this policy. It can cover a family upto 2 adults and 3 children.

What does it do?

This is a family floater health insurance policy where Sum Assured can be utilized by any of the insured members. In addition to Basic coverage, Wider Plan offers an optional Critical Illness Benefit on payment of extra premium. The claim for critical illness is also available on floater basis and will be settled on reimbursement basis. It covers illnesses such as Carcinoma /Sarcoma /Blood Cancer, Varicose veins/ Varicose Ulcers without any waiting period. It also allows a free health check up after a period of 4 claim free years and the policyholder is also entitled to receive a cumulative bonus on renewal for each claim free year.

Pros

This policy can be bought online.
Emergency Assistance Services is useful in case a situation of urgency arises.
Premium paid towards this policy qualifies for tax relief under Section 80D of income tax act.

Cons

Room rent and boarding benefits are capped.
Policy does not allow lifetime renewals.

Our View

A decent policy coverage for a family. Critical Illness rider is must if you have a family history of any of the stated illnesses. It does not allow lifetime policy renewal which is a major drawback. Old age is an age when the risk of ill health is maximum and health insurance becomes crucial. Buying a new policy at that age becomes a Herculean task. You should prefer policies that offer lifelong renewal facility.

Eligibility

Entry Age (years)

Minimum

18

Maximum

60

Maximum Policy Renewal Age (years)

80

Coverage Type

Family floater

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 lakh

Minimum

2 lakh

No Claim Bonus

5% of Sum Insured for each claim free till it reaches 50% of sum insured with 'Wider Plan' only

Customer Service

Address

Corporate Office:
IFFCO TOWER
4th & 5th Floors
Plot No.3, Sector 29
Gurgaon-122001
Haryana (India)

Mail to

websupport@iffcotokio.co.in

Call to

1800-103-5499(toll free) or 0124-4285499

SMS

CLAIM' to 56677

Network Hospitals

Https://www.paramounttpa.com/ProviderNetwork/ProviderNetwork.aspx

Scope Of Cover

Cashless facility

available if taken in a network hospital

Reimbursement facility

available if treatment taken in non-network hospital

Pre hospitalisation expenses

covers expenses upto 30 days prior to admission to hospital

Post hospitalisation expenses

covers expenses upto 60 days after discharge from hsopital

Inpatient Hospitalisation

Room expense and boarding

covered upto 1.5%(2.5% for ICU expense) of sum insured per day

Day Care Procedures

121 such procedures are covered

Hospital Daily Allowance

Rs 250 per day

Local ambulance services

upto Rs 1500

General Health Check-up

covered upto 1% of sum insured payable once after 4 consecutive claim free years

Sub-limit on cover for certain illnesses such as cataract, hernia, knee joint etc.

Not applicable

Additional benefits (requires payment of extra premium)

Critical Illness Benefit

available on payment of extra premium. Covers 10 critical illnesses

Emergency Assistance services

provides medical consultation, emergency medical evacuation, care for minor children etc in case of emergency

Exclusions and Waiting Period

Pre-existing diseases

covered after 4 continuous policy renewal

No claim period

30 days commencing from issue date of the policy

Waiting period

covered since inception date of the policy.1 year for any type of Carcinoma /Sarcoma /Blood Cancer etc.2 years for cataract, hernia, piles, sinusitis etc.

Other exclusions

naturopathy or other non-allopathic treatmentsOut patient treatment, AIDS or related conditions