IFFCO Tokio Individual Medishield Policy

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Introduction

“He who has health has hope and he who has hope has everything”. Iffco tokio’s individual medishield policy provides protection from expenses of healthcare in case of illness or diseases. It provides you with cash free hospitalization benefit across 3000 hospitals in India.

Key Features

  • Nursing expenses are covered for pre and post hospitalization.
  • Registration charges, service charges are covered up to 0.5% of sum insured.
  • Domiciliary expenses have a sublimit of 20% of sum insured.
  • Cost of health checkup will be covered up to 1% of sum insured after 4 claim free years.

Benefits

  • Cumulative bonus from 5% to 50% can be availed in case of claim free renewals.
  • Income tax benefit can be availed under section 80D.
  • There is no copayment or excess applicable in this policy.

Details about Premium

This policy has an option of 10 basic sum insured ranging from Rs 50,000 to Rs 5,00,000 in multiples of 50,000. The premium amount will depend upon the age and sum insured chosen. An enhancement up to 50% can be done on claim free renewals.

Policy Details

Minimum sum insured: Rs 50,000

Maximum sum insured: Rs 5, 00,000

Coverage type: Self, spouse and 2 dependent children (below 23 years of age).

Cumulative bonus: on claim free renewals sum insured can be increased from 5% to 50% and in case of claim cumulative bonus will be reduced by 10% on renewal.

Portability: The insured can port his policy from one company to another as per IRDA guidelines.

Additional Riders or Features

  • Critical illnesses can be covered by payment of 30% of additional premium.

Documents Required

Proposer have to fill an application /proposal form to buy this policy. People who are above 45 years need a medical checkup. The company might ask the proposer to submit his past medical history.

Eligibility Criteria

Person in the age slab of 3 months to 80 years can be covered. Children between 3 months to 5 years can be covered under this policy. Dependent children below 23 years are only covered.

Inclusions

  • Pre and post hospitalizations are covered up to maximum of 60 days.
  • Ambulance charges are covered up to 1% of basic sum insured.
  • Room rent is covered up to 1% of basic sum insured and ICU charges are covered up to 2.5% of basic sum insured.
  • Pre-existing diseases are covered after 3 years from the date of commencement of policy.

Exclusions

  • Pre-existing diseases are not covered for first 36 months.
  • Naturopathy treatment is not covered.
  • HIV/AIDS treatment is excluded.
  • Any diseases occurring in the first 30 days of commencement of policy is not covered.