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.
Eligibility
Entry Age (years) | |
Minimum | 5 |
Maximum | 55 |
Coverage Type | Individual |
Sum Insured (Rs) | |
Maximum | 5 lakh |
Minimum | 50000 |
Policy Term (years) | 1 |
Discount | 5% for 2 people and 10% for 3 or more people |
No Claim Bonus | 5% of Sum Insured for each claim free till it reaches 50% of sum insured |
Pre Policy Medical Check Up | Required above 45 years of age |
Customer Service | |
Address | Corporate Office: IFFCO TOWER 4th & 5th Floors Plot No.3, Sector 29 Gurgaon-122001 Haryana (India) |
Call to | 1800-103-5499(toll free) or 0124-4285499 |
SMS | CLAIM' to 56677 |
Network Hospitals | Https://www.paramounttpa.com/ProviderNetwork/ProviderNetwork.aspx |
Additions to the Plan
Scope Of Cover | |
Cashless facility | available if taken in a network hospital |
Reimbursement facility | available if treatment taken in non-network hospital |
Pre hsopitalisation and post hospitalisation expenses | covers expenses for 60 days prior and 60 days after discharge from hospital |
In patient hospitalisation | |
Room, boarding and nursing charges | covered upto 1%(2.5% if admitted to ICU) of sum insured per day. |
Hospital Daily Allowance | pays a daily cash amount if hospitalised |
Domiciliary hospitalisation benefits | covered |
Emergency Assistance sevice | provides medical consultation, emergency medical evacuation, care for minor children, emergency cash coordination etc |
Local Ambulance service | covered |
General health check-up | covered once after 4 claim free years |
Additional Cover (requires payment of additional premium) | |
Critical Illness | covers 10 critical illnesses for twice the basic sum insured |
Exclusions and Waiting Period | |
Pre-existing diseases | will be covered after 3 years of continuous policy renewal |
No claim period | initial 30 days |
Waiting period | certain illnesses such as hernia, cataract,, sinusitis and related disorders etc. will be covered after first year of insurance |
Other exclusions | naturopathy or other non-allopathic treatmentsOut patient treatment, AIDS or related conditions |
Annual Premium Option without Crirical Illness | ||||||||||
Age (in years) | Sum Insured (in Rs.) | |||||||||
1 lakh | 1.5 lakh | 2 lakh | 2.5 lakh | 3 lakh | 3.5 lakh | 4 lakh | 4.5 lakh | 5 lakh | ||
Upto 25 | 1556 | 1912 | 2269 | 2717 | 3166 | 3558 | 3950 | 4343 | 4735 | |
26-35 | 1997 | 2296 | 2593 | 3105 | 3617 | 4066 | 4514 | 4962 | 5411 | |
36-45 | 2456 | 2796 | 3136 | 3750 | 4363 | 4904 | 5444 | 5985 | 6525 | |
46-55 | 3873 | 4539 | 5207 | 6002 | 6797 | 7724 | 8653 | 9580 | 10508 | |
56-65 | 5833 | 6650 | 7467 | 9073 | 10680 | 12103 | 13527 | 15008 | 16490 | |
66-70 | 11927 | 13598 | 15270 | 16734 | 18199 | 19789 | 21380 | 22679 | 23979 | |
premiums are exclusive of service tax |
Annual Premium Option with Critical Illness | ||||||||||
Age (in years) | Sum Insured (in Rs.) | |||||||||
1 lakh | 1.5 lakh | 2 lakh | 2.5 lakh | 3 lakh | 3.5 lakh | 4 lakh | 4.5 lakh | 5 lakh | ||
Upto 25 | 2023 | 2486 | 2949 | 3533 | 4116 | 4626 | 5136 | 5646 | 6156 | |
26-35 | 2597 | 2984 | 3371 | 4037 | 4703 | 5286 | 5869 | 6451 | 7034 | |
36-45 | 3192 | 3635 | 4077 | 4875 | 5672 | 6374 | 7077 | 7781 | 8483 | |
46-55 | 5035 | 5902 | 6768 | 7802 | 8836 | 10043 | 11248 | 12454 | 13660 | |
56-65 | 7583 | 8646 | 9708 | 11796 | 13884 | 15734 | 17586 | 19511 | 21437 | |
66-70 | 15506 | 17678 | 19851 | 21754 | 23658 | 25726 | 27793 | 29483 | 31173 | |
premiums are exclusive of service tax |