Iffco Tokio Individual Medishield

Objective

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

Suited for

Anyone fulfilling the eligibility criteria may buy this policy. It can also be bought as a family cover to avail a discount on premium, but each member will be covered for a separate sum that cannot be shared with any other insured member.

What does it do?

There are two special features under this policy. First, by paying 40 per cent extra of basic premium, one can cover against 10 critical illnesses for an amount equal to twice the basic sum insured. Second, the policy provides an Emergency Assistance Service to assist in medical emergencies with medical consultation, medical evacuation, care for minor children, cash coordination and other tasks.
It covers inpatient hospitalisation expenses, pre and post hospitalisation expenses, ambulance charges and provides for health check-up once in a block of four claim free years.

Pros

There is a discount on buying a policy for two or more family members.
This policy can be bought online.
Premium paid towards this policy qualifies for tax relief under Section 80D of Income Tax Act.

Cons

There is a capping on room and boarding charges .
It covers only 10 critical illnesses.

Our View

Additional cover for critical illness and Emergency Assistance Service are useful. Those looking for a simple and a basic health insurance policy may go for it. Extending the policy to cover other members in the family will also fetch a discount on premium.