Health Insurance 270 views February 6, 2021

Medical emergencies come without any prior information and can create a huge hole in your pocket considering the cost of treatment in today’s times. A health insurance plan can certainly help individuals protect their finances during such emergencies. Several insurance companies provide health insurance to customers and ICICI Lombard is one of them. However, there is one question that people often ask — “How good is the ICICI Lombard Health Insurance?”

Health Insurance

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By how good, individuals want to make sure that the ICICI Lombard Health Insurance will help them meet their needs. In this article, we will be telling the prominent features of the ICICI Lombard Health Insurance that will help you gauge the worth of this plan. So, without any further delay, let’s start!

Features of ICICI Lombard Health Insurance that Make it Attractive

To gauge exactly how good is ICICI Lombard Health Insurance, one should look at its extraordinary features such as its high claim settlement ratio,  hassle-free claim settlement process, availability of network hospitals, different types of plans, etc. We are showing them one after another so that you can assess the plan better. Let’s check!

Larger Number of Network Hospitals

Network hospitals let you avail cashless treatment during any medical emergency. With the ICICI Lombard Health Insurance, you can enjoy a cashless claim process in more than 6,500 network hospitals across India. In case you are seeking proper medical treatment, a good facility is never far from you! All you need to do is to search by state, city and area. With this, you will have a list of all the ICICI Lombard network hospitals in that particular area.

Different Types of ICICI Lombard Health Insurance Plans for Different Requirements

ICICI Lombard understands different individuals may have different requirements when choosing a health insurance plan for themselves. Keeping this in mind, ICICI Lombard offers you different types of health insurance policies from which an individual can choose according to their convenience. There are three plans – ICICI Lombard Complete Health Insurance, Health Booster Policy, and Arogya Sanjeevani Policy from ICICI Lombard. We are showing the features and benefits of these plans in the below table. Please check!

Health Insurance PlanMain Features and Benefits
ICICI Lombard Complete Health Insurance

  1. Sum Insured above INR 5 lakh

  2. Room Rent up to the sum insured

  3. Cover for up to 150 daycare procedures

  4. Pre-existing illness coverage with a waiting period of 2 years for a sum insured of INR 3 lakh and above

  5. 100% reset benefit

  6. Emergency ambulance coverage up to INR 1,500 per hospitalization

Health Booster Policy

  1. Silver and Gold options

  2. Pre and post hospitalization expenses cover

  3. No daily capping on room rent expenses

  4. Pre-existing Illnesses coverage after a waiting period of 2 years

  5. Donor expenses up to the sum insured

  6. Personal accident cover up to INR 15 lakh

  7. Temporary total disablement

  8. Free health check-up every year

  9. Repatriation of remains coverage up to INR 1 lakh

  10. Wellness program

  11. Emergency ambulance coverage up to 1% of the sum insured, with the maximum being capped to INR 5,000

Arogya Sanjeevani Policy from ICICI Lombard

  1. Sum insured options starting from INR 1 lakh to up to INR 5 lakh

  2. Emergency ambulance coverage up to INR 2,000 per hospitalization

  3. Pre-existing Illnesses coverage after a waiting period of 4 years

  4. All daycare procedures coverage

  5. Room rent coverage up to 2% of sum insured up to INR 5,000 per day

  6. Co-payment of 5% on every claim

  7. Cataract treatment coverage up to 25% of the sum insured or INR 40,000
  8. (whichever is lower)
  9. AYUSH Treatments up to the sum insured with no sub-limit

Claim Settlement Ratio

When choosing a health insurance plan, people like to know the claim settlement history of a health insurance company. A good claim settlement history indicates greater chances of getting the health cover amount. But how will you know it? Well, check the claim settlement ratio of the insurance company to know so. ICICI Lombard Health Insurance has a good ratio of 76%  for the financial year 2018-19. A higher ratio indicates that the ICICI Lombard provides a claim to a higher number of policies.

Claim Settlement Process

No one would like to go through a complex and lengthy claim process when he/she has already been struggling with a medical emergency. With ICICI Lombard Health Insurance, you can enjoy a quick claim intimation with the innovative ‘IL Take Care’ application. Some other processes to intimate your claim are via 24*7 toll-free helpline number and via email. Other than these methods, you can also contact any of the 273 ICICI Lombard branches. After getting the intimation, the company will verify your claim, and your claim will be settled accordingly.

No Medical Checkup Required

People often worry about whether they need to go through any kind of medical screening before choosing the policy. But you don’t need to worry about this with the ICICI Lombard Health Insurance Policy. The reason: individuals who are below 46 years of age and are choosing a sum insured up to INR 10 lakh don’t need to undergo any medical screening before choosing a policy.

COVID-19 Cover

The risk of COVID-19 has not gone away completely. One of the best things about ICICI Lombard Health Insurance is that all its policies cover expenses related to COVID-19 treatments. So, when you are choosing an insurance plan from ICICI Lombard, you don’t need to take any additional plan to cover the treatments due to coronavirus.

Additional Sum Insured

ICICI Lombard Health Insurance policy also rewards those individuals who take care of their health. Every year when an individual doesn’t make a claim, the company provides an additional sum insured in the next year. This additional sum insured can be up to 50% of the sum insured, with which you can enhance your overall protection.

Discount and Tax Benefits on the Premium towards the ICICI Lombard Health Insurance Policy

A policyholder can also enjoy a discount on the premium on the ICICI Lombard Health Booster policy if he or she chooses to pay the premium of 3 years in a single installment. One additional benefit that you can enjoy while paying the premium amount towards any policy is the tax benefit under Section 80D of the Income Tax Act, 1961.

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