Iffco Tokio Swasthya Kavach- Wider (Family Health Insurance)

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.