Health Insurance 367 views July 9, 2021

IFFCO Tokio Individual Medishield Insurance Policy

IFFCO Tokio Individual Medishield Insurance Policy could help protect your finances from medical treatment expenses. When you choose this policy, you and your family can enjoy a cashless treatment at 6,400+ network hospitals across India in case of a medical emergency. One of the best things about this plan is that you can also opt for additional coverage against critical illnesses like kidney failure, heart-related surgery, organ transplantation, etc. by paying an additional premium. This plan also provides unique emergency medical and personal assistance to the insured members during domestic travel.

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Before going any further, have a look at its key features mentioned below.

  1. Flexible Sum Insured Options
  2. Room Rent and ICU Charges Cover
  3. Coverage Against COVID-19 Treatment
  4. Pre and Post-hospitalization Cover
  5. Daily Allowance Cover
  6. Ambulance Charges Cover
  7. No Medical Tests up to Age 60
  8. Coverage Against up to 160 Day Care Procedures 
  9. Availability of Online Renewal Facility
  10. Coverage Against Critical Illness
  11. Coverage Against Ayurvedic Hospitalization
  12. Emergency Medical Assistance Services
  13. Lifelong Renewability Facility
  14. Tax Benefits Under Section 80D Of The Income Tax Act, 1961
  15. A 15-day Free Look Period (For Fresh Policies)

Go through this page to understand these features of the IFFCO Tokio Individual Medishield Insurance Policy in detail. Let’s start.

Features and Benefits of IFFCO Tokio Individual Medishield Insurance Policy in Detail

We have discussed the features and benefits of the Individual Medishield Insurance Policy below so that you can decide better. Please check.

Flexible Sum Insured Options 

Under this policy from IFFCO Tokio, policyholders can choose from multiple sum insured options that range from INR 50,000 to INR 5 lakh in multiples of 50,000. So, you get a total of 10 options from which you can choose according to your needs.

What Does the Policy Cover?

If a policyholder faces any injury or illness and needs to get hospitalized, the policy will cover the following expenses.

  1. Room, boarding, and nursing charges cover up to 1% and 2.5% of the basic sum insured for Normal Room and Intensive Care Unit, respectively, if the sum insured is less than INR 3 lakh (No sub-limit for sum insured above INR 3 lakh)
  2. Service charges and surcharges of the hospital or nursing homes up to 0.5% of the basic sum insured
  3. Fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants or Specialists
  4. Anesthesia, Blood, Oxygen, Operation Theatre charges, Surgical Appliances, Medicines and Drugs, Diagnostic Materials, Diagnostic imaging modalities, Dialysis, Chemotherapy, Radiotherapy, Cost of a pacemaker, Artificial Limbs, Cost of organs and similar expenses
  5. Domiciliary hospitalization up to 20% of the basic sum insured
  6. Additional daily allowance up to 0.1% of the basic sum insured (for a maximum of INR 250 per day) during the hospitalization
  7. Ambulance charges cover (in connection with the admissible claim) up to 0.1% of the basic sum insured for a maximum of INR 1,500
  8. AYUSH Hospitalization, including pre and post-hospitalization expenses (for 60 days), up to 10% of the basic sum insured of the insured member each policy year

Critical Illness Cover

Policyholders can also cover themselves against critical illnesses by paying an additional premium of 30% of the basic premium.

Organ Transplantation Cover

If an insured member needs to undergo an organ transplantation surgery, the policy also covers the hospitalization expenses of the organ donor during the procedure. For the donor, no payment will be made towards ambulance charges, pre & post-hospitalization expenses, and daily cash allowance.

Day Care Treatment Cover

If the duration of an insured member’s hospitalization is less than 24 hours for day care treatment/s, the policy will also provide coverage against such expenses.

Coverage Against Modern Treatment Methods and Advancements in Technologies

If an insured member needs to undergo the following modern treatment methods (Either as in-patient or domiciliary hospitalization or as part of day care treatment), this policy will cover the expenses up to 50% of the sum insured.

  1. Uterine Artery Embolization and HIFU (High intensity focused ultrasound)
  2. Balloon Sinuplasty
  3. Deep Brain stimulation
  4. Oral chemotherapy
  5. Immunotherapy- Monoclonal Antibody to be given as an injection
  6. Intravitreal injections
  7. Robotic surgeries
  8. Stereotactic radio surgeries
  9. Bronchial Thermoplasty
  10. The vaporization of the prostate (Green laser treatment or holmium laser treatment)
  11. IONM – (Intra Operative Neuro Monitoring)
  12. Stem cell therapy: Hematopoietic stem cells for bone marrow transplant for hematological conditions to be covered

Emergency Assistance Services

IFFCO Tokio Individual Medishield Insurance Policy offers the following services without any extra cost when you travel within India 150 km or more away from your residential address.

  1. Medical consultation, evaluation and referral
  2. Emergency medical evacuation
  3. Medical repatriation
  4. Emergency message transmission
  5. Return of mortal remains
  6. Emergency cash coordination
  7. Transportation to join patients
  8. Care and/or transportation of minor children

What is the Minimum Premium Amount?

The premium amount depends on the age of the insured person(s) and the sum insured. The minimum amount stands at INR 1,864 for the sum insured of INR 1 lakh for individuals aged between 3 months to 25 years.

Who Can be Covered under the Policy?

You can include up to 5 family members under the policy. Here, family means the following.

  1. Self
  2. Spouse
  3. Dependent Children up to 23 years
  4. Dependent parents

Premium Discounts

IFFCO Tokio offers a wide range of discounts on the premium amount made towards the policy. You can check them below.

  1. 5% and 10% discount on total premium for two and three or more family members covered under the policy
  2. 10% discount for all customers holding any IFFCO Tokio Insurance Policy
  3. 20% discount for all employees of IFFCO Tokio
  4. 10% discount for customers who buy the policy directly from the official website of IFFCO Tokio

Note: All these discounts are on a cumulative basis and cannot exceed a total of 25%.

IFFCO Tokio Individual Medishield Insurance Policy Eligibility Criteria

Please check the following conditions that you will need to fulfill before purchasing the plan.

  1. The entry age for individuals can range from 18 to 65 years.
  2. For dependent children, the entry age stands at three months.

What is Not Covered Under the Plan?

You will not get coverage against the following expenses incurred during the policy period.

  1. Circumcision (except for vaccination or inoculation or change of life)
  2. Cosmetic or Plastic Surgery
  3. Cost of spectacles, Contact Lens and Hearing Aids
  4. Dental Treatment or surgery, unless requiring hospitalization
  5. Rest Cure Rehabilitation and Respite Care
  6. Diagnostic, X-ray or Laboratory
  7. Treatment for Alcoholism, Drug or substance abuse or any addictive condition
  8. Maternity (including miscarriage and infertility, etc.)
  9. OPD Treatment
  10. Sterility and Infertility
  11. Change of Gender-treatments
  12. Hazardous or adventure sports
  13. Naturopathy, Experimental and/or alternative treatment

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