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Group Insurance 843 views May 19, 2021
ICICI Lombard Group Hospi Shield Insurance Plan provides coverage to the employees of an organization against hospitalization expenses. The employer can buy this plan to provide financial safeguard to its employees against medical expenses. Key benefits of the ICICI Lombard Group Hospi Shield Insurance Plan are –
Let’s read this page and learn more about the benefit of the ICICI Lombard Group Hospi Shield Insurance Plan.
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Table of Contents
The insured members are eligible for the following benefits under this plan.
If the insured suffers an illness or injury (due to an accident) during the policy term, the insurer will pay a daily amount to him/her as specified in the policy certificate. This benefit shall be payable only for each continuous and completed day of hospitalization.
If the insured suffers from an illness or accident during the policy term, the insurer will pay him/her the sum insured. The insured can make multiple claims under this benefit. However, the maximum liability is restricted up to the sum insured as specified against the EMI benefit in the policy certificate.
During the policy period, if the insured undergoes daycare, the insurer will pay an amount as specified in the policy certificate against this benefit. The daycare treatment benefit is applicable for medically necessary treatment and it commences and continues on the written advice of the treating medical practitioner. The insurer shall not be liable to pay under this benefit more than 5 times for each insured person in a policy year.
If any of the insured members are diagnosed with Cancer of Specified Severity during the policy period, the insurer will pay a daily cash amount as mentioned in the policy certificate. The diagnosis must be supported by histological evidence of malignancy. The following shall be excluded under this benefit –
The employer can opt for any of the extension under Hospital Daily Cash
Under this coverage section, the insurer shall cover the following illnesses –
The insurer shall pay the sum insured in case the insured member is hospitalized due to any of the above-mentioned illnesses during the policy period. Specific Infection Disease Benefit is subject to the following conditions –
The insured will receive the following benefits during the policy term in case of death or disablement due to an accident, whichever is earlier –
A free look period of 15 days applies to new individual health insurance policies and not on renewals or at the time of porting/migrating. During the free look period, the insured can review the terms and conditions of the policy and return the same if not acceptable. If the insured has not made any claim during the free look period, the insurance company shall refund the paid premium after deducting the medical examination expenses and stamp duty charges. Where the risk has already commenced and the option of return of the policy is exercised by the insured, the insurer will make a deduction towards the proportionate risk premium for the period of cover. If only a part of the insurance coverage has commenced, such proportionate premium commensurates with the insurance coverage during the free look period.
Note: The free look period will be 30 days in case the policy is purchased through distance marketing modes.