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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) 
Minimum5
Maximum55
Coverage TypeIndividual
Sum Insured (Rs) 
Maximum5 lakh
Minimum50000
Policy Term (years)1
Discount5% for 2 people and 10% for 3 or more people
No Claim Bonus5% of Sum Insured for each claim free till it reaches 50% of sum insured
Pre Policy Medical Check UpRequired above 45 years of age
Customer Service 
AddressCorporate Office:
IFFCO TOWER
4th & 5th Floors
Plot No.3, Sector 29
Gurgaon-122001
Haryana (India)
Call to1800-103-5499(toll free) or 0124-4285499
SMSCLAIM' to 56677
Network HospitalsHttps://www.paramounttpa.com/ProviderNetwork/ProviderNetwork.aspx
Additions to the Plan
Scope Of Cover
Cashless facilityavailable if taken in a network hospital
Reimbursement facilityavailable if treatment taken in non-network hospital
Pre hsopitalisation and post hospitalisation expensescovers 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 Allowancepays a daily cash amount if hospitalised
Domiciliary hospitalisation benefitscovered
Emergency Assistance seviceprovides medical consultation, emergency medical evacuation, care for minor children, emergency cash coordination etc
Local Ambulance servicecovered
General health check-upcovered once after 4 claim free years
Additional Cover (requires payment of additional premium)
Critical Illnesscovers 10 critical illnesses for twice the basic sum insured
Exclusions and Waiting Period
Pre-existing diseaseswill be covered after 3 years of continuous policy renewal
No claim periodinitial 30 days
Waiting periodcertain illnesses such as hernia, cataract,, sinusitis and related disorders etc. will be covered after first year of insurance
Other exclusionsnaturopathy 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 lakh1.5 lakh2 lakh2.5 lakh3 lakh3.5 lakh4 lakh4.5 lakh5 lakh
Upto 25155619122269271731663558395043434735
26-35 199722962593310536174066451449625411
36-45 245627963136375043634904544459856525
46-55 3873453952076002679777248653958010508
56-65 58336650746790731068012103135271500816490
66-70 119271359815270167341819919789213802267923979
premiums are exclusive of service tax
Annual Premium Option with Critical Illness
Age (in years)Sum Insured (in Rs.)
1 lakh1.5 lakh2 lakh2.5 lakh3 lakh3.5 lakh4 lakh4.5 lakh5 lakh
Upto 25202324862949353341164626513656466156
26-35 259729843371403747035286586964517034
36-45 319236354077487556726374707777818483
46-55 5035590267687802883610043112481245413660
56-65 758386469708117961388415734175861951121437
66-70 155061767819851217542365825726277932948331173
premiums are exclusive of service tax