Iffco Tokio Swasthya Kavach- Basic (Family Health Insurance)

Objective

An online health insurance policy that aims to cover a family on a floater sum basis against basic hospitalisation expenses.

Suited for

Anyone up to 60 years of age can buy this policy. It can cover a family of up to two adults and three children.

What does it do?

This is a family floater policy where any of the insured members can utilize the Sum Insured. It is a basic plan that covers hospitalisation expenses, Room rent and boarding expenses with sub-limits and ambulance services. It also covers Day Care procedures which donot require an overnight stay in the hospital due to advancement of technology. It further provides Daily Cash benefit to take care of fooding and accommodation expenses of insured's relatives and family. It solely depends on insured person how he uses the Daily Cash Amount.

Pros

This policy can be bought online.
Emergency Assistance Services are available on payment of extra premium. This service provides for medical consultation, medical evacuation, care for minor children, cash coordination and other tasks.
Premium paid towards this policy qualifies for tax relief under Section 80D of income tax act.

Cons

Room rent and boarding benefits are capped.
Ambulance charges are covered for a comparatively lower amount.
Policy does not allw lifetime renewals.

Our View

Sub-limits on room rent and boarding is a drawback. The policy allows renewals only upto 80 years of age which is a major limitation. 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.