ICICI Lombard General Insurance Company Ltd. is one of the largest general insurance providers in the private sector. The insurance company has a website from where one can purchase and renew online policies. Once the policy is purchased online, it is issued immediately. The company aims to offer unmatched services to its customers and all efforts are channelised to provide customer centric solutions within the insurer’s product range.
ICICI Lombard General Insurance Highlights Updated on 06 Apr 2020
|Waiting Period for Pre-existing Disease||4 years|
|Incurred Claims Ratio||76.89%|
|Number of Policies Issued||1014478|
*For Year 2017-2018
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 cover 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 Group Health Insurance
ICICI Lombard Complete Health Insurance:
The ICICI Lombard Complete Health Insurance plan is a total health insurance solution that aims to provide coverage to not just the proposer but also his/her family. 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 is 6 years under individual policy and there is no limit on the maximum entry age. Under the floater plan, children are covered between the ages of 3 months and 5 years.|
|Policy Period||1 or 2 years, as per plans offered|
|Medical Screening||No health check-up is needed up to the age of 45 years (age as on last birthday) and sum insured up to Rs.10 lakh|
|Floater benefit||The floater cover protects the insured individual, spouse, brothers, sisters, dependent children, and dependent parents under the same plan. A single premium is payable for the cover. Children above the age of 3 months can avail coverage as long as the plan covers at least one adult.|
|Sum Insured||The customer can choose sum insured between Rs.3 lakh and Rs.50 lakh, based on his/her specific insurance needs. Additional sum insured: 10% increase in sum assured for every claim-free year; max. 50%; awarded at renewal If the customer raises a claim, the accumulated additional sum insured will go down by 10% the next year.|
|Premium||Depends on the amount of coverage opted for|
ICICI Lombard Health Booster:
The Health Booster plan offered by ICICI Lombard is a super top-up insurance product that extends coverage for illnesses and expenses that are not covered under the base plan. The product is ideal for customers who are looking to protect themselves from surging medical costs and unprecedented medical issues.
|Entry Age||Minimum entry age is 6 years for individual policy. Children aged 3 months to 5 years can avail insurance under the floater policy. There is no limit on the maximum entry age.|
|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. This is applicable for policies with deductible chosen as Rs.3 lakh and above.|
|Medical Screening||Medical underwriting is required for an individual who is more than 45 years of age or opting for Sum Insured more than Rs.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|
|Add-on Covers||Optional Cover 1: Hospital Daily Cash & Convalescence Benefit Optional Cover 2: Personal Accident Cover, Temporary Total Disablement (TTD) Rehabilitation Cover & Repatriation of Remains Optional Cover 3: Critical Illness Cover|
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 offers coverage for terrorism as well. An optional cover is offered for Accidental Hospitalisation Expenses and Accidental Hospital Daily Allowance.
|Eligibility||The customer should be between 18 and 80 years of age to be able to buy the policy. You can also purchase the policy for your spouse, children, or parents.|
|Medical screening||Not required|
ICICI Lombard Health Care Plus Policy:
The ICICI Lombard Health Care Plus Policy is designed to offer coverage for healthcare costs till the end of the policyholder’s life. Premiums can be paid in easy installments. Cashless hospitalisation facility is available at 4,500 network hospitals across India. The sum insured and policy tenure can be chosen as per the requirements of the customer.
|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 compensates the insured person in the event of accidental loss of eyes/limbs, permanent total disability, permanent partial disability, or accidental death.
|Sum insured||This is dependent on the earning capacity of the person insured|
|Premium||The premium is decided on the basis of the insured person’s occupation and benefits derived from the policy|
|Exclusions||The plan does not offer coverage for suicide, self-inflicted injuries, war, nuclear disasters, venereal diseases, and pregnancy|
|Discounts||The customer can avail a group discount based on the group size. This discount is offered in slabs and increases with the group size|
ICICI Lombard Group Health Insurance:
This policy can be taken by businesses to provide health insurance for all employees and their families.
Avail Tax Benefits with ICICI Lombard Health Insurance Policies:
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.
- The in-house wellness and claim processing platform, ICICI Lombard Health Care, delivers multiple wellness initiatives and easy claim processing services.
- The Health Advisor facility is an online platform that enables customers to share their experiences about medical facilities and record reviews.
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.
Incurred Claims Ratio of ICICI Lombard Health Insurance for the Year 2017-18
|Net Earned Premium (in Crore)||Net Claims Paid (in Crore)||Incurred Claims Ratio (in %)|
|Rs.1349.32 crore||Rs.921.00 crore||68.26%|
Also Read: Best Health Insurance Plans
ICICI Lombard Health Insurance FAQs:
- What is optional coverage? Does ICICI Lombard provide it?
Optional coverage means the add-on benefits in the insurance plan. Yes, ICICI customers can include several add-ons in their policy.
- What is mandatory coverage?
Mandatory coverage is the original cover that comes with the policy. You cannot remove it from the policy.
- 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.
- 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 is the process to cancel the ICICI Lombard Complete Health Insurance policy?
You will have to give a written notice to ICICI Lombard with a notice period of 15 days. The insurer will offer a premium refund for the unexpired policy period as long as there are no pending claims under the policy. The refund is offered at the rates mentioned below:
Policy period Within 1 month From 1 to 3 months From 3 to 6 months Within 6 months to 9 months Within 9 months to 1 year During 2nd year 1st year 80% 60% 40% 20% 0% NA 2nd year 80% 70% 60% 50% 40% Between 12 months and 18 months - 30% Between 18 months and 21 months - 20% Between 21 months and 24 months - 10%
- What is the ICICI Lombard Health Insurance free-look cancellation procedure?
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:
- Objection 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 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; this is 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.
Examples of Network Hospitals in Major Cities:
CITY NAME OF HOSPITAL Kolkata Columbia Asia Hospital DELHI National Heart Institute BANGALORE Manipal Hospital CHENNAI Fortis Malar Hospital Mumbai Hinduja Hospital
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