IFFCO Tokio is a general insurance company in India, which was incorporated in 2000. The sole purpose of the company was to become a leader in the insurance space with transparency, quick response, and fairness. It is a joint venture between IFFCO (Indian Farmers Fertilizer Co-operative) and its associates along with Tokio Marine and the Nichido Fire Group of Japan. Since its inception on the 4th of December 2000, the insurance company has been making inroads and gaining popularity continuously. The brand now offers a host of insurance-based solutions for different needs and requirements.
Interesting Facts about IFFCO Tokio General Insurance
Here are some interesting facts about IFFCO Tokio General Insurance:
- The insurer has a strong network of 20,000 plus insurance advisors and branches across the country
- IFFCO Tokio won the National Award by the Ministry of Labour, for successful implementation of RSBY in the year 2013-14
- The written premium for the company grew from a humble INR 213 Crores to an impressive INR 3537.2 Crores by 2015-2016
- IFFCO Tokio won awards in three different categories at the India Insurance Awards of 2016
- The insurer is one of the leaders when it comes to claiming settlement ratios at 92.65%
Types Of Products Offered By IFFCO Tokio General Insurance
As already mentioned, IFFCO Tokio has been able to achieve so much predominantly due to an impressive range of products. Here are all the products that you can purchase from the insurer.
Motor insurance plans are offered for motor vehicles running on Indian roads under the mandate of the Motor Vehicles Act, 1988. The Act mandates every vehicle to be insured under a valid motor insurance policy and so IFFCO Tokio offers different types of motor insurance plans for different types of vehicles. The motor insurance plans offered by the company are as follows –
- Car insurance
IFFCO Tokio offers a comprehensive car insurance policy which not only covers the mandatory third party legal liability it also provides coverage against the damages suffered by the car. Besides the basic coverage benefits, IFFCO Tokio’s car insurance policy also has inbuilt covers for roadside assistance, zero depreciation and coverage for CNG/LPG bi-fuel kits. You can get easy cashless claims across a network of more than 4300 garages in India which makes claim settlements easy and hassle-free.
- Two-wheeler insurance
IFFCO Tokio offers a comprehensive two-wheeler insurance policy which covers the damages suffered by the bike due to natural or man-made causes and also any third party legal liability. Personal accident cover is also inbuilt under the policy which covers the owner/driver of the vehicle against deaths and disablements suffered in an accident. The policy can be taken for one year or for the long term to avoid annual renewals. Under the long term option, IFFCO Tokio offers a coverage of up to 3 years for bikes bought before 1st September 2018 and mandatory coverage of 5 years for bikes bought on or after 1st September 2018.
- Commercial vehicle insurance
Commercial vehicle insurance plans cover vehicles which are used for commercial purposes. These vehicles can be passenger carrying vehicles or goods carrying vehicles. A comprehensive scope of coverage is offered for commercial vehicles which cover damages suffered by the vehicle as well as any damage caused to any third party. Paid drivers are also insured against personal accident risks. The coverage of the policy can also be extended by opting for add-ons which are offered by IFFCO Tokio.
Health insurance plans are a must in today’s age when medical costs have touched the roof. These plans cover the costs incurred on medical emergencies thereby giving the policyholder relief from the financial strain of such emergencies. Health insurance plans can be indemnity oriented policies which cover the actual medical costs. There are fixed benefit health plans too which pay a lump sum benefit if a claim is made. Such plans allow the policyholder the financial assistance to face the medical contingency in whichever way possible. IFFCO Tokio offers both indemnity and fixed benefit health insurance plans which provide a complete scope of coverage to an individual. The range of plans offered by the company are mentioned below –
- Family Health Protector Policy
This is a comprehensive health insurance plan meant for the whole family which can be covered under the policy on a floater basis. The policy provides a comprehensive scope of coverage which includes inpatient hospitalization, AYUSH treatments, a daily allowance if hospitalization is for 24 hours or more, vaccination expenses free health check-ups, etc. Moreover, critical illness cover can be added to the policy at an additional premium to enhance the scope of coverage.
- Individual Health Protector Policy
This policy offers coverage on an individual sum insured basis. Hospitalization expenses, ambulance charges, emergency assistance services, daycare treatments, AYUSH treatments, free health check-ups, etc. are some of the common coverage benefits of the plan. Critical illness cover is available as an add-on cover which can be chosen if you want to customize the policy and enhance its scope of cover.
- Swasthya Kavach Policy
Swasthya Kavach Policy is a family floater plan which can be taken to cover self, spouse and dependent children. Dependent children can include biological or adopted children, siblings, nephews or nieces if they are dependent on the policyholder. Coverage for hospitalization expenses, ambulance costs, domiciliary treatments, organ donor treatments, are allowed under the policy and that too at an affordable rate of premium.
- Individual Medishield Policy
The policy is issued on an individual sum insured basis and covers individuals under it. No medical check-ups are required until 60 years of age making the policy easy to buy. Pre-existing illnesses are covered after a short waiting period of 3 years and you can get free health check-ups once in four policy years. You also get a daily cash allowance for up to 250 days in case of hospitalization. The company provides a 24*7 assistance helpline for all your queries and complaints so that you can enjoy the coverage without any problems.
- Individual Personal Accident Policy
This is a fixed benefit personal accident plan which covers accidental death and disability and pays a fixed amount of benefit in case of claims. Besides death and disability, the plan also extends coverage for loss of job, child education support and ambulance costs. The sum insured increases every year that the policy is renewed if there were no claims in the previous year.
- Critical Illness Insurance Policy
This policy covers specified critical illnesses and surgical procedures. If the insured is diagnosed with any of the covered illness or procedure, the plan pays the sum insured in a lump sum. This benefit can be used by the policyholder in any which way needed. The policy is offered as an optional add-on cover with basic health insurance plans offered by the company.
- Health Protector Plus Policy
This health insurance policy can be bought either on an individual sum insured basis for individuals or for the whole family on a family floater basis. There are eight plan options with a different sum insured levels which you can use as per your coverage needs. The plan has a top-up or super top-up option wherein you can choose the deductible and claims up to the deductible would not be paid. You can also waive the deductible if you pay an additional premium making the policy flexible in nature.
- Swasthya Raksha Bima
This policy is an affordable health insurance scheme designed for individuals living in small towns and cities. Coverage is offered for an inpatient hospitalization, domiciliary treatments, AYUSH treatments, emergency cash assistance, medical evacuation, etc. A daily allowance is also paid per day of hospitalization. The premiums are extremely affordable and the sum insured is limited.
- Critical Illness Benefit Policy
This is a standalone critical illness policy offered by IFFCO Tokio. The policy covers 25 major illnesses and surgical procedures and pays the sum insured in one lump sum benefit if the insured is diagnosed with any of the covered conditions. Some critical illnesses also allow you a daily allowance of up to INR 1000/day of hospitalization. The policy can be taken on a floater basis covering family members including parents-in-law. The sum insured allowed under the plan goes up to INR 1 crore and no medical check-ups are required till 50 years of age. There are premium discounts too which help in reducing the premium and making the policy more affordable.
- MOS – BITE Protector Policy
This is a unique fixed benefit health insurance plan offered by IFFCO Tokio. The policy covers vector-borne diseases like dengue, malaria, Chikungunya, Zika virus, Kala-Azar, lymphatic filariasis, etc. In case the insured suffers from any of the covered diseases and is hospitalized for 48 hours or more, the sum insured is paid in a lump sum. No medical check-ups are required to buy the plan and the policy can be taken to cover the entire family under a single policy.
Travel insurance plans are helpful in securing the trips that you take for leisure or business purposes. You might face unforeseen contingencies which travelling to an unknown destination and a travel insurance policy provides you financial assistance in such contingencies. The policy, therefore, proves to be a valuable addition to your trip and should be bought. IFFCO Tokio offers different types of travel insurance plans depending on the destination and purpose of travel. The plans offered by the company are as follows –
- International Travel Insurance
The international travel insurance plan ocovers trips taken to international countries. The policy offers a comprehensive scope of protection by allowing coverage for dental treatments, hospital daily allowance, personal liability, hijack distress allowance and medical repatriation among other basic coverage benefits. The plan comes in different variants and offers a cover of up to USD 500,000. Emergency cash assistance is also provided under the policy if you need funds when abroad due to an unforeseen contingency.
- Pravasi Bharatiya Bima Yojana
This travel insurance policy is offered to Indians who travel to foreign countries for work and fall in the ECR category. Coverage under the policy is offered for accidental death or disability, medical repatriation, hospitalization expenses, return airfare in case of premature termination of employment, litigation expenses, maternity benefits, etc.
Home insurance plans are those which cover the home and/or its belongings against the financial loss suffered due to unforeseen losses. Home insurance plans can be taken to cover only the structure of the house or only its contents or both. Comprehensive home insurance plans cover both the structure of the house and its contents and are recommended for homeowners. The different types of home insurance plans offered by IFFCO Tokio are as follows –
- Home Suvidha Policy
This is a comprehensive home insurance policy which covers both the structure and the contents of the home against natural and man-made calamities. TV and video appliances and computers can be covered under the plan. Moreover, coverage is also available against accidental contingencies suffered by individuals living in the house. Terraces, swimming pool, garage, etc. are all included within the scope o coverage under structure insurance.
- Home Family Protector Policy
This is also a comprehensive home insurance policy which covers damages suffered due to natural and man-made calamities. Coverage is also offered for valuables stored in the premises of the house, third party liability, loss of rental income if the house is rented out, electronic equipment, baggage, etc. You can also choose available extensions and increase the scope of coverage of the policy by paying a small additional premium.
- All in One Home Protector Policy
As the name suggests, this policy provides an all-inclusive coverage for any type of damage suffered by the home and/or its contents. Pieces of fine art are also covered under the policy and you can enjoy personal liability coverage worldwide. Pet insurance coverage is offered as an extension under the policy wherein pets living in the home can be covered. Moreover, one of the unique coverage benefits of the plan is coverage for contents in possession of children who live outside the home for education.
Other insurance plans
Besides the above-mentioned insurance policies, IFFCO Tokio also offers other types of insurance policies which are helpful for businesses as well as individuals. These policies include the following –
- Trade insurance
Trade insurance plans help businesses face unforeseen emergencies and the financial losses associated with such emergencies. Trade insurance plans offered by IFFCO Tokio are of two types which are as follows –
- Trade Suvidha Policy
- Trade Protector Policy
Business insurance plans are designed for businesses as well as their employees to cover them against different types of financial risks. Business insurance plans come in different variants which are as follows –
Micro and Rural Insurance
- Liability Insurance
- Marine insurance
- Property (Fire and Engineering) insurance
- Workmen’s Compensation Insurance
- Corporate Health Insurance
- Bankers Blanket Insurance
- Burglary Insurance
- Fidelity Guarantee Insurance
- Industry Protector Insurance
- Jewellers Block Insurance
- Money Insurance
- Office & Professional Establishment Protector Insurance
Micro and rural insurance plans are plans which are designed for the rural population of India. These policies provide specific coverage to such a population for the financial risks that they face. IFFCO Tokio offers the following types of micro and rural insurance plans –
- Janata Suraksha Bima Yojana
- Jan Sewa Bima Yojana
- Tractor Insurance
- Kisan Suvidha Bima
- Pashu Dhan Bima Yojana
- Pradhan Mantri Fasal Bima Yojana (PMFBY)
- Unified Package Insurance Scheme (UPIS)
- Jan Suraksha Bima Policy and Mahila Suraksha Bima Yojana
Speciality insurance plans are specially curated insurance policies which cover specific risks faced by the business. The policies which are issued under this category include the following –
Bank Locker Policy
- Comprehensive General Liability
- Credit Insurance
- Errors and Omission (Technology)
- Fine Arts Insurance Private Collectors, Dealers and Gallery Owners
- Multi-Modal Transport Insurance
This is a unique insurance policy which protects the valuables and contents stored in the locker of a bank. Important documents stored in bank lockers can also be covered under the plan through a policy extension. Coverage is allowed against burglary, accident, infidelity or terrorism which leads to loss, damage or theft of the contents of the locker.
How To Buy IFFCO Tokio General Insurance Plans?
As a policy buyer, times could not have been any better. There are a number of ways in which you can buy IFFCO Tokio General Insurance policies. To start the classification, you can either buy a policy online or offline. Buying a policy offline refers to the traditional method, where one had to reach out to an insurance advisor or visit a local branch office of an insurer to buy the policy. You can still buy a policy with either of the methods.
Things get a bit more interesting when you opt to buy IFFCO Tokio General Insurance policies online. You can visit IFFCO Tokio’s website to look for a policy that interests you can purchase it then and there.
Alternatively, you can make use of Turtlemint to buy IFFCO Tokio General Insurance policies online. Turtlemint is a website that bridges the gap between insurance companies and potential policy buyers. Apart from connecting both the entities, it offers you a much more effective tool, comparison. You can compare policies from different insurers before you pick one. Turtlemint ensures that you buy a policy that is light on your pockets while getting all the coverage that you need in the first place. Here are the steps that you must follow.
- Access https://www.turtlemint.com from your preferred browser
- You can then opt for the type of policy that you want to buy, i.e. Motor Insurance, Health Insurance, Travel Insurance, etc.
- The website would expect the following information if you want to buy a health insurance policy
- Age of the applicant(s)
- Gender of the applicant(s)
- An annual income of the primary applicant
- PIN code of the applicant for the list of network hospitals in the region
- Any pre-existing diseases
- Once you enter the above details, Turtlemint will search and list all the policies that are relevant to your requirements
- You then have the ability to compare the policies and pick one
- The website will then present a precise online application form
- You must fill the form and pay the policy premium
- Turtlemint will send a digital copy of the policy within a few minutes to your email id.
- If you were interested in buying a Motor Insurance policy, you would need the following information first,
- Registration number of your bike or car
- Year of manufacture for your bike or car
- Make and model of your bike or car
- Previous policy insurer
- The expiry date of the previous policy
- Any claims made during the previous year
- Contact details of the applicant
- After providing the above information, Turtlemint will list all the policies that are valid for your bike or car
- You can compare the policies based on the premiums and coverage and finally opt for one
- After filling out a quick online form and paying the premiums, you can expect the policy in your mailbox within a few minutes
How To Renew IFFCO Tokio General Insurance Plans?
Renewing your IFFCO Tokio General Insurance is quite similar to buying a new policy from IFFCO Tokio. The methods available for buying a policy are also valid for renewing a policy. You can either walk into a branch office or interact with an insurance advisor to renew your policy.
Policyholders wishing to save their time and looking for convenience would rather renew the policy online. You can visit IFFCO Tokio’s website, look for the policy you want and click on Renew.
An even more convenient way is to log in to Turtlemint, if you are an existing customer, select a policy that you have purchased and click on renew. If there are no changes, you can instantly renew the policy with just a few clicks. With Turtlemint, you not only save a lot of time and effort but also can save money in the form of affordable policy premiums.
Claim Process For IFFCO Tokio General Insurance Plans
As a policyholder, it is your right to be able to claim your policy when needed. And an easy claim settlement process would ensure that you have an even better experience. IFFCO Tokio takes extra care of its policyholders when it comes to claims. Here are the guidelines for claims for different policy categories.
- Health Insurance Plans:
Whether you opt for reimbursement or cashless service, the following guidelines would hold good.
- IFFCO Tokio revisits their list of blacklisted/excluded doctors and hospitals regularly. Any treatment carried out in such hospitals or doctors would mean that you cannot avail of the cashless benefits of a claim for reimbursement.
- One of the first steps of the claim settlement process is to inform your insurer about the same. In the event of an emergency, you must intimate IFFCO Tokio within 24 hours of the admission and before 48 hours in the case of pre-planned procedures.
- As a general practice, having all your documents in one place will avoid any panic attacks. Before you get to a hospital, do a quick check on the documents at hand. You must carry a copy or two of your membership ID, government ID and a copy of the insurance on being admitted.
- For quick turnaround times, make sure that you submit all the necessary documents. You can reach out to IFFCO Tokio to get a list of documents required.
- Make it a point to choose a hospital very judiciously. An expensive hospital doesn’t necessarily translate to good treatment. Also, opting for a network hospital will let you avail of cashless benefits.
- For Cashless service, you can reach out to the insurance desk of the hospital and fill up the pre-authorization form.
- The hospital would send all the relevant documents to the insurer and once approved the insurer will directly pay the hospital.
- If there are any additional payments in the form of co-payment or deductibles or amount exceeding the sum insured, you must clear the dues before discharge.
- For reimbursement, you must ensure that you have all the original documents such as discharge summary, prescriptions, medical bills, etc. and submit the same along with claims form within 30 days of completion of a procedure or 90 days of discharge.
- Once the insurer approves the claim, they will transfer the amount to the account number provided by you.
You can also reach out to Turtlemint for your health insurance claim. If you have purchased your policy through Turtlemint, you can inform the website about a claim and they will take care of the proceedings. To inform Turtlemint about a claim, you can call on 1800 266 0101 or email them at email@example.com. The company will get in touch with IFFCO Tokio and help you with the claim settlement process.Motor Insurance Claims:
As compared to health insurance claims, the motor insurance claims are quicker and a little less complicated as well. Here are the steps that you would need to follow.
- Intimate IFFCO Tokio about an incident or the claim at the earliest
- You can ask IFFCO Tokio representative for the nearest network garage if you wish to avail cashless benefits
- IFFCO Tokio would then send an independent surveyor to take a look at the vehicle’s condition and assess the claim
- Once the surveyor sends the report, IFFCO Tokio would assess the claim and settle the claim with the garage, if it is a network garage
- For repairs done at non-network garages, you would need to submit all the bills in original
- Once IFFCO Tokio approves the claim, they will transfer the qualifying amount to the account number mentioned in the claim form
An easier alternative is to visit Turtlemint and file your claim. The warm and experienced staff at Turtlemint will help you through the entire process. To initiate your motor insurance claim, you can call on 1800 260 0101 or email them at firstname.lastname@example.org. Turtlemint will take your request forward and work with IFFCO Tokio to settle the claim.
Documents Required For Claims In IFFCO Tokio General Insurance
For your claims with IFFCO Tokio, you would need to submit the following documents, based on the type of insurance that you wish to claim.
- Documents for Motor Insurance Claims
Documents for Health Insurance Claims
- Claim form duly filled and signed
- Insurance policy’s copy
- Driving License’s copy
- Vehicle’s RC Copy
- Repair estimate
- The original receipt and final repair bills
- Claim form duly filled and signed
- Diagnostic reports like CT Scan, Laboratory tests, X-Rays, etc.
- Medicine bills
- Medical bills and receipts
- Discharge summary copy
- A cancelled cheque that contains name, account number and IFSC code for reimbursement cases
Company Address And Contact Information – IFFCO Tokio General Insurance
Address: Corporate Office, IFFCO Tower, Plot No. 3, Sector 29, Gurgaon – 122001, Haryana (India)
Toll Free: 1800 103 5499 or 0124 428 5499
Email Id: email@example.com