Benefits of ICICI Lombard Health Insurance
ICICI Lombard General Insurance Company is a leading name in the general insurance market with a range of general insurance products to offer. The company was the first general insurer to issue subordinated debt in the year 2016. In 2017, the company’s GDPI crossed INR 100 billion taking the company in the big leagues.
ICICI Lombard also has various awards to its name with the latest being the Asia Quality Excellence and Leadership Award in 2017. In 2018 the company won the Association of Talent Development BEST Awards for the sixth time. As at the end of the financial year 2018, the company had 23.5 million policies to its name.
ICICI Lombard offers a range of health insurance plans whether it is for covering individual members of their entire families. Besides normal mediclaim policies, the company also offers fixed benefit plans and supplemental health insurance plans for individuals looking for additional coverage.
Additional Benefit of Free Health Check upAlmost every plan issued by ICICI Lombard comes with an inbuilt benefit of free health check-up. This check-up is provided after one to four policy years and allows insured members to maintain their health.
Additional Protection over Employer CoverageICICI Lombard offers health insurance solutions to those employees too who are looking to enhance their employer sponsored group health insurance coverage. The company offers such employees with a choice of health insurance plans which they can buy independently and increase their coverage at minimal premiums.
Cashless BenefitICICI Lombard has tied-up with more than 5,025 hospitals across India so that its customers can avail cashless treatments when admitted to such networked hospitals. The approval for cashless claims is also allowed by the company within 4 hours of claim intimation making the whole claim process quick and simple.
Claim Settement RatioThe company settles three claims every minute and as such has recorded a high Claim Settlement Ratio (CSR). During the financial year 2017-18, ICICI Lombard’s CSR stood at 78.78%*. *The claim settlement ratio change from time to time.
Coverage against Medical ExpensesICICI Lombard’s health insurance plans have all the necessary coverage benefits which ensure that you don’t incur out-of-pocket medical expenses. The policies cover expenses which are incurred on hospitalisation like room rent, doctor’s fee, surgery fee, etc. Moreover, expenses incurred both before and after hospitalisation are covered. Besides these coverage is also allowed for AYUSH treatments, day care procedures, domiciliary treatments and other medical expenses.
Incurred Claim RatioIncurred Claim Ratio (ICR) is used to find out what percentage of the premium collected by the company is used up in paying claims. For the financial year 2018-19, ICICI Lombard’s ICR was 76%*. The company, therefore, had enough premiums to meet its expenses and generate a profit. *The incurred claim ratio change from time to time.
Tax BenefitThe premiums which are paid for a health insurance plan qualify for tax deduction under Section 80D up to a maximum of Rs. 55000 (Rs. 25,000 for individual and Rs. 30,000 for senior citizen).
ICICI Lombard Health Insurance Plan List
|Name of Plan||Sum Insured|
|Complete Health InsuranceMin: 3 Months; Max: No Limit||5 Lakh||Get Quotes Now|
|Health BoosterMin: 3 Months; Max: No Limit||5 Lakh||Get Quotes Now|
|Rishtey Min: 3 Months; Max: 70 Years||2 Lakh||Get Quotes Now|
|Arogya Sanjeevani PolicyMin: 3 months; Max: 65 years||1 Lakh - 5 Lakh||Get Quotes Now|
|Corona Kavach PolicyMin:1 Day; Max: 65 Years||50,000 - 5 lakh||Get Quotes Now|
|Corona Rakshak Policy Min: 18 Years; Max: 65 Years||50,000 - 2.5 lakh||Get Quotes Now|
ICICI Lombard Health Insurance User Reviews
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ICICI Lombard Health Insurance FAQs
Why should I buy ICICI Lombard health insurance policy?
ICICI Lombard Health Insurance is a smart choice to secure yourself and your loved ones against medical contingencies. The plans offered provide comprehensive health coverage along with outpatient department (OPD) benefits, maternity cover and a host of wellness benefits. Also, there are various value added services that enable you to enhance the sum assured, in case of claim-free years.
Does ICICI Lombard health insurance policy cover accidental death and permanent total disability?
ICICI Lombard offers the Personal Protect Policy that provides coverage for Accidental Death and Permanent Total Disability (PTD). It also offers coverage for terrorism as well.
How do I cancel ICICI Lombard policy?
You can easily cancel your policy during free-look period, just fill up the form and visit any of the ICICI Lombard branches. Once request is processed, refund of premium amount will be provided after applicable deductions(in any) within 15 days.
What is the toll free number of ICICI Lombard General Insurance?
ICICI Lombard’s toll free number is 1800-2666.
What do you mean by floater option in ICICI Lombard health insurance plan?
In a floater option, a single policy under one sum insured covers all the family. It can cover, 2 adults, 2 adults, and 1 child; 1 adult and 2 children; 2 adults and 3 children; 1 adult and 1 child. The sum insured can be used by anyone or all covered under the policy until the time the limit is exhausted.
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