ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with total assets of over USD 100 billion and Fairfax Financial Holdings Limited, a financial services company based in Canada, associated with reinsurance, general insurance, investment management, and insurance claims management. ICICI Lombard GIC Ltd. has evolved to the status of one of the largest private sector insurers in India with a Gross Written Premium (GWP) of Rs.83.07 billion.
ICICI Lombard General Insurance Highlights Updated on 21 Mar 2018
|Waiting Period for Pre-existing Disease||4 years|
|Incurred Claims Ratio||80.38%|
|Number of Policies Issued||890383|
*For Year 2016-2017
Overview of ICICI Lombard Health Insurance :
ICICI Lombard General Insurance Co. Ltd. brings to the Indian market the combined expertise of two individual enterprises, making it a formidable force in the general insurance industry. It offers insurance solutions to individuals as well as companies in the form of personal and business financial protection solutions respectively. Some of their retail insurance solutions include auto insurance, travel insurance, personal accident and health insurance to name a few.
Among the Company’s Health Insurance Offerings are the Following Plans:
- ICICI Lombard Complete Health Insurance
- ICICI Lombard Health Booster
- ICICI Lombard Personal Protect Insurance Policy
- ICICI Lombard Health Care Plus Policy
- ICICI Lombard Group Personal Accident Policy
ICICI Lombard Complete Health Insurance:
This ICICI Lombard Complete Health Insurance is a total health insurance solution that aims to provide coverage to not just the proposer but also his/her family. It is made affordable through its two coverage options i.e. Cover on an Individual Basis (which is taken for each person separately, premiums being payable for each insured member) or on a Floater Basis (wherein the entire family is covered for a particular amount).
Coverage options are also flexible. Customers can choose to make their cover more comprehensive by opting to cover critical illnesses in addition to the basic plan.
|Entry Age||The minimum entry age starts from 6 years under individual policy and 3 months under the floater policy|
|Policy Period||1 or 2 year policy period as per plans offered|
|Medical Screening||No health check-up up to the age of 45 years (age as on last birthday)|
|Basis||Individual and Floater|
|Sum Assured||Rs.2 lakhs, Rs.3 lakhs, Rs.4 lakhs, Rs.5 lakhs, Rs.7 lakhs or Rs.10 lakhs. (chosen amount can be enhanced at renewal) No-claim Bonus: 10% increase in sum assured for every claim-free year; max. 50%; awarded at renewal|
|Premium||Discount if voluntary deductible is opted for|
|Coverage||iHealth Plan - Inpatient hospitalisation expenses: Boarding, Nurse Care, ICU, Doctor/Surgeon, Anesthesia, Blood, Oxygen, OT - Specified Day care treatment - Pre/Post-hospitalisation expenses: Up to 30 /60 days respectively - Ambulance Costs: Up to Rs.1,500 per hospitalisation - Pre-existing diseases: 2 or 4 yr. waiting period depending on chosen coverage - Yearly Health-checks: Limited to 2 per yr. on floater basis|
Option 1 - Daily Cash Allowance: Per day of hospitalisation; max. 10 days; deductible: 3 days Rs.500 for coverage options Rs.1 lakh or 2 lakhs Rs.1,000 for coverage options Rs.3, 4 or 5 lakhs Rs.2,000 for coverage options Rs.7 or 10 lakhs - Convalescence Benefit: Hospital stay of 10 days or more; Rs.10,000 per insured member; one-time per policy period
Option 2 - For coverage options above Rs.2 lakhs - Critical Illness: One-time, Lump sum payment on diagnosis for - Cancer, CABG, Heart Attack, Major Organ Transplant, Stroke, Paralysis, Heart Valve Replacement, Terminal Liver Failure - Organ Donor Expenses: Up to Rs.50,000 - reimbursed
ICICI Lombard Health Booster:
The Health Booster plan offered by ICICI Lombard is a super top-up insurance product that extends the coverage for illnesses and expenses that are not covered under the base plan. The ICICI Lombard Health Booster plan also has a deductible threshold. The product is ideal for customers who are looking to protect themselves from the surging medical costs and unprecedented medical issues.
|Entry Age||6 years of age for individual 3 months for floater policy|
|Renewability||Reset up to 100% of the sum insured once in a policy year in case the sum insured including accrued additional sum insured (if any) is insufficient to make the claim|
|Medical Screening||Medical underwriting is required for an individual who is more than 45 years of age or opting Sum Insured more than 10 lakh or both|
|Basis||Individual and floater|
|Coverage||Sum insured amount options from Rs.5 lakh to Rs.50 lakh and flexible deductible options (Rs.3 lakh, Rs.4 lakh & Rs.5 lakh) to suit your needs|
Optional Cover 1: Hospital Daily Cash & Convalescence Benefit
Optional Cover 2: Personal Accident Cover, Temporary Total Disablement (TTD) Rehabilitation Cover & Repatriation of Remains (Only for adults up to 60 years)
Optional Cover 3: Critical Illness Cover (Only for adults up to 60 years)
ICICI Lombard Personal Protect Insurance Policy:
ICICI Lombard offers the Personal Protect Policy that provides coverage for Accidental Death and Permanent Total Disability (PTD). The ICICI Lombard Personal Protect Insurance Policy product offers coverage for terrorism as well. An optional cover is offered for Accidental Hospitalisation Expenses and Accidental Hospital Daily Allowance.
|Entry Age||The minimum entry age is 18 years and the maximum entry age is 60 years (age as on last birthday)|
|Medical Screening||No health check-up required for policy issuance|
|Coverage||Customised coverage that allows you to choose between Rs.3 Lakhs, Rs.5 Lakhs, Rs.10 Lakhs, Rs.15 Lakhs, Rs.20 Lakhs and Rs.25 Lakhs Sum Insured|
ICICI Lombard Health Care Plus Policy:
The ICICI Lombard Health Care Plus Policy is designed to cover medical expenses that exceed the sum insured of the policyholder’s existing health insurance plan. Having said that, this health insurance plan can function as an independant insurance plan as well, offering coverage for hospitalisation more than 24 hours and for critical illnesses after the 4th renewal of the policy.
|Entry Age||Individuals between 5 years and 65 years are eligible for this policy|
|Policy Tenure||1 or 2 years|
|Medical screening||Only applicants above the age of 56 years are required to undergo a pre-policy check-up|
|Premium||Depends on the sum insured, tenure, and coverage chosen by the applicant|
|Grace Period||A grace period of 30 days is granted to renew the policy|
ICICI Lombard Group Personal Accident Policy:
The ICICI Lombard Group Personal Accident Policy covers for death resulting from accident and Permanent Total Disablement (PTD) resulting from Accident.
|Entry Age||No Age Restriction|
|Policy Period||1 Year|
|Sum Assured||Between Rs.5 lakh to Rs.20 lakh|
Save Tax Benefits with ICICI Lombard Health Insurance policies:
ICICI Lombard Health Insurance policyholders are liable to save tax under Section 80D of the Income Tax Act, 1961. Listed below are the tax deductions benefits of all ICICI Lombard health insurance plans.
|Tax Deductions under Section 80D of the Income Tax Act, 1961.||
7 Reasons for Buying ICICI Lombard Health Insurance Plans:
Here is a list of reasons why ICICI Lombard Health Insurance is suitable for you and your family:
- Lifelong renewability: Stay protected with ICICI Lombard Health Insurance policies that come with a lifelong renewability option so that you can get health cover when you need it the most.
- Speedy claims process: Cashless claims shall be settled within 4 hours of registering the claim request and for reimbursement claims, within 14 days.
- AYUSH treatment cover: Get reimbursement for alternative treatments such as Ayurveda, Unani, Siddha and Homeopathy (AYUSH) treatment at a government hospital or institute recognised by the government or accredited by Quality Council of India.
- Add-on cover: For enhanced coverage, add-on covers such as Maternity and Newborn Baby Cover, Wellness and Preventive Healthcare cover, and Outpatient Treatment Cover can be attached to the base health insurance policy.
- Reset sum insured up to 100%: Once in a policy year, the sum insured will be restored up to 100%, provided the claim has been made in the same policy year. The reset sum insured will be for illness or injury that is unrelated to the claim that has already been paid.
- Value-added services: Get free health-checkup, online chat with a doctor, consultation with specialist to stay fit and healthy.
- Tax benefit: Get tax deduction on premium paid towards a health insurance policy under Section 80D of the Income Tax Act, 1961.
Value-Added Benefits Under ICICI Lombard Health Insurance Plans:
Free value-added services offered by ICICI Lombard Health Insurance are:
- Free health check-up which includes medical examination, fasting blood sugar, urine routine, blood grouping and Rh, CBC, ECG, Hb%, PPBS – Post Prandial, and Total Cholesterol.
- Online chat with ICICI Lombard-appointed doctor.
- To help customers stay fit and healthy, benefit from the insurer’s value-added service - dietician and nutritionist consultation.
- Specialist consultation with one follow-up session.
ICICI Lombard Health Insurance Customer Care:
ICICI Prudential Life Insurance Company Ltd. is one of india’s largest, and most trusted insurance provider which was established in 2001 after a partnership between Prudential Corporation Holdings Limited, and ICICI Bank Ltd. Since its inception, the company has grown by leaps and bounds, and is now counted among the very best, in terms of its product offerings and quality of service, in the Indian general insurance space. Under its health insurance arm, ICICI offers a number of policies which are designed to meet varying customer needs.
In addition to offering stellar products, ICICI also lays emphasis on providing its customers with friendly and dedicated round-the-clock support for resolution of queries, complaints and grievances. Customers can get in touch with the support representative not only via phone but also via email. They can call on the insurer’s toll free helpline number which is accessible round the clock. Customers can also email their queries and grievances to the customer support team at the provided email address to receive a response shortly. Customers can also get in touch with the support staff by reaching out on their fax line numbers, or by mailing them at their registered office address as well.
Know More About: ICICI Lombard Health Insurance Customer Care Number
How to File a Health Insurance Claim with ICICI Lombard Insurance?
There are 2 types of claims a policyholder can make with ICICI Lombard Health Insurance:
- Cashless Claim: Visit a network hospital of ICICI Lombard Health Insurance and show the health card at the desk. The hospital will submit a pre-authorisation request form to the insurer. After verification, the insurer will approve or reject the request. Upon approval, the network hospital will proceed with the cashless treatment for the insured member and the insurer will settle the bills directly with the hospital. Upon rejection, the insured member can seek treatment and pay for the bills out of his or her pocket, then file a reimbursement claim after discharge.
- Reimbursement Claim: At the time of discharge, collect all the original medical documents from the hospital and submit it along with a duly-filled claim form to the insurer for a reimbursement claim of your medical expenses. The insurer shall settle the claim amount with the insured member within 15 days of receipt of all the relevant documents. The claim shall be approved or rejected as per the policy terms and conditions.
Also Read: Best Health Insurance Plans of 2017
ICICI Lombard Health Insurance FAQs:
What is the meaning of date of inception of a health insurance policy?
The date of inception of a policy refers to the date when your policy becomes effective.
What is optional coverage? Does ICICI Lombard provide it?
Optional coverage means the add-on benefits in the insurance plan. Yes, the customers can include these add-ons in their policy.
What is mandatory coverage?
It means the original coverage that comes with the policy. You cannot remove it from the policy.
What is a premium?
A premium refers to the amount paid to the insurance company.
What is the meaning of entry age and exist age?
Entry age means the age of eligibility to buy a health insurance policy. Exit age refers to that age on reaching which a person cannot buy or renew his/her policy.
What is the meaning of permanent exclusion?
It means that the disease that falls under this category of permanent exclusion will not be covered under your health insurance plan.
How is the claim procedure at ICICI Lombard?
The claim procedure involves the following three steps -- intimation of claim, process of claim, and claim closure by making the payment.
Whom should I contact to make a claim?
In order to make a claim, you can either approach ICICI Lombard claim management team or the customer service department.
Do I need to pay premium for the second year, if I have to renew my policy?
Yes, you need to pay the premium for the second year, if you intend to renew it.
What is the difference between an individual plan and a floater plan?
An Individual plan refers to the separate plans for each individual. But a floater plan covers your family members as well.
What are the expenses included under the sub limit amount at ICICI Lombard?
The expenses spent in pre-hospitalization, room rent and other expenses related to the treatment process are covered in amount stated in the sub limit bracket.
How does a higher health insurance coverage with ICICI Lombard help me?
A higher health insurance coverage with ICICI Lombard helps you to get advanced and high quality treatment at its network hospitals.
What are the cancellation charges of ICICI Lombard Health Insurance?
In the case of policy cancellation after the free-look period and before the expiry date, the insurance company will refund the premium (provided on no claim is payable) on short-term rates for active policy period as per the below table:
What is the ICICI Lombard Health Insurance cancellation procedure?
ICICI Lombard Health Insurance policy can be cancelled by submitting a 15-days’ written notice for cancellation through registered post to the insurer. ICICI Lombard Health Insurance policy can be cancelled during the free-look period which is usually 15 to 30 days from the time of purchasing the policy. The free-look cancellation form can be downloaded from the insurer's website. Free-look cancellation is not allowed for renewal. Reason for free-look cancellation can be:
|Policy period||Within 1 month||From 1 to 3 months||From 3 to 6 months||Within 6 months to 1 year||During 2nd year||During 3rd year|
- Object to the terms and conditions of the policy.
- Want to opt for a different policy.
- Policy features are different from what was communicated.
- After cancellation, the premium paid will be refunded subject to certain deductions like medical examination and stamp duty charges. Premium refund will be done through NEFT.
What is the ICICI Lombard Health Insurance cancellation policy?
The insurer may cancel the policy if the policyholder has misrepresented the details provided at the time of policy inception, non-disclosure of material fact or non-cooperation. Before cancelling the policy, the insurer will send a written notice of cancellation through registered post which is a 15-days’ notice.
Is pregnancy covered under ICICI Lombard Health Insurance?
No, pregnancy-related medical expenses are not covered under ICICI Lombard Health Insurance plans.
What is ICICI Lombard Health Insurance No-Claim Bonus?
At the time of policy renewal, the insurer will provide an additional 10-50% sum insured for every claim-free year called the No-Claim Bonus.
What is ICICI Lombard Health Insurance contact number?
For any policy-related queries, call toll free number 1800 2666 or alternate number 09223622666.
What is ICICI Lombard Health Insurance card number?
ICICI Lombard Health Insurance card is called the i-Health Care Cashless Health Card. It contains the company name, your name, age, card number, policy number, and expiry date. ICICI Lombard Health Insurance card number is like an Identity number used to verify your identity at the network hospital desk when availing cashless hospitalisation.
Examples of Network Hospitals in Major Cities:
|CITY||NAME OF HOSPITAL|
|Kolkata||Columbia Asia Hospital|
|DELHI||National Heart Institute|
|CHENNAI||Fortis Malar Hospital|