Product Review: ICICI Lombard Complete Health Insurance iHealth Plan
Summary
ICICI Lombard Complete Health Insurance-iHealth Plan is a Complete Health Insurance Policy is a comprehensive plan. In this plan, premium needs to be paid in a lump sum and can be availed for a period of 12 or 24 months. This policy can be availed for the entire family as well which includes self, spouse and dependent children as well as parents for a maximum of Rs 10 Lakhs of Family Floater Benefit.
This plan covers Hospitalization expenses, Pre and Post Hospitalization costs, Day Care Treatments and Treatments coverage as well as Domestic Road Emergency Ambulance Coverage. There are certain additional benefits available in this plan like Hospital Daily Cash and Convalescence Benefit and Donor Expenses and Critical Illness Benefit.
The biggest advantage with this plan is that it does not have any maximum age of entry and this plan offers Guaranteed Renewability for life. Also, anyone less than 46 years of age does not have to undergo pre-medical health check-up to avail this plan. There is also an option for Voluntary Deductible which acts as a Top Up Plan whereby the premium reduces considerably. There is also an option of Increasing Sum Assured on Policy Renewal subject to underwriter’s approval. This Plan also offers Free Health Check Up and Discount Coupons.
Key Features
- This policy offers coverage upto Rs 10 lakhs with various options
- There is no Maximum Entry Age in this plan
- There is Guaranteed Renewability for lifetime in this plan
- There is no requirement for pre-medical tests till 46 years of age
- There are no Sub Limits in this Plan For Major Illnesses like Cancer, Stroke, Paralysis, etc. but there are Sub Limits for other hospitalization
- There are certain additional features in this plan to choose from:
- Hospital Daily Cash and Convalescence Benefit
- Donor Expenses and Critical Illness Benefit
- There are certain Value Added Services available with this plan:
- Free Health check-up
- Online Chat with doctor
- Specialist Consultation with One Follow-up session
- Dietician & Nutritionist consultation
- Discount Coupon Book
- There is an option for Voluntary Deductible and an option of Increasing Sum Assured on Policy Renewal subject to underwriter’s approval
- There is an additional Sum Assured of 10% of Sum Assured as No Claim Bonus for every claim free year upto a maximum of 50%
What is Covered?
All medical expenses due to the following are covered:
- Hospitalization Expenses for more than 24 hours, including room charges, doctor/ surgeon's fee, medicines bills, etc.
- Pre and Post Hospitalization expenses for 30 days prior and 60 days post hospitalization
- Listed Day Care expenses for which 24 hours of hospitalization are not included on named advanced technological surgeries and procedures requiring less than 24 hours of hospitalization. (Including Dialysis, Radiotherapy and Chemotherapy)
- Pre-existing diseases are covered after 4 years of continuous renewal for Sum Assured of Rs 1 and 2 Lakh and after 2 years of continuous renewal for Sum Assured more than Rs 2 lakh
Additional Benefits:
- There are some additional benefits in this plan:
- There are no Sub Limits for Major Illnesses like Cancer, Stroke, End Stage Renal Failure, Major Organ Transplant, Multiple Sclerosis, Paralysis, All brain related surgeries, All cardiac surgeries including Heart Valve Replacement, Coronary Artery Bypass(CABG) and Myocardial Infarction while there is sub-limits for other hospitalizations
- There is Free Health Check Up for each person insured every policy year
- One can opt for a Voluntary Deductible till which he would bear the claim on his own whereby the premium reduces considerably
Death Benefit – There in no Death Benefit in this plan.
Maturity Benefit – This plan being a pure Health Insurance Plan has no Maturity Benefit as well.
Income Tax Benefit – Health Insurance Premiums paid up to Rs. 15,000 for normal residents and Rs 20,000 for Senior Citizen are allowed as a deduction from the taxable income each year under section 80D
Surrender Policy; No surrender benefits
Loan: Loan facility is not available.