Iffco Tokio Individual Medishield Plan

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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)
Minimum		5
Maximum		55
Coverage Type		Individual
Policy Term (years)		1
Sum Insured (Rs)
Maximum		5 lakh
Minimum		50000
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

 

	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

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