IFFCO Tokio General Insurance Company is a joint venture between IFFCO (Indian Farmers Fertilizer Co-operative) and Tokio Marine Group. While IFFCO is an Indian company, Tokio Marine Group is based out of Japan and is the largest insurance group in Japan. The stakeholding is in the ratio of 51% to 49% where IFFCO holds the major portion and Tokio Marine Group has the lower stakeholding.
IFFCO Tokio was formed in the year 2000 as a general insurance company offering a range of general insurance products. Even today the company offers different types of general insurance plans suiting every customer, whether retail, rural or corporate.
Why choose IFFCO Tokio Health Insurance?
IFFCO Tokio is a reputed brand name which gives you the following benefits when you choose its health insurance plans –
- It promises ease in claim settlement with cashless claims served through a network of more than 5000 hospitals in India
- The company has a wide presence with more than 20,000 agents working for it at various branches across the country
- IFFCO Tokio promises complete transparency in buying the policy, servicing it as well as at the time of claims
- The company has won various awards including the P & C Insurer of the Year Award presented by the Insurance Asia News among others
- The company has a high claim settlement ratio of 92.65% proving that your claims would be settled by the company effectively
Features of IFFCO Tokio Health Insurance plans
Health insurance plans offered by IFFCO Tokio come with the following common features –
- Different plans can be availed for covering self, family or dependent parents
- The plans offer indemnity based coverage where the actual medical costs are paid as well as fixed benefit coverage wherein a lump sum claim is paid
- The coverage benefits under the plans are comprehensive and beneficial
- All the plans promise lifelong renewability ensuring coverage even in very old ages
- The premiums are low and also allow you tax benefits under the provisions of Section 80D of the Income Tax Act
Types of IFFCO Tokio Health Insurance plans
Here are the different health insurance plans which are offered by IFFCO Tokio
1. IFFCO Tokio Family Health Protector Policy
This is a family floater indemnity health insurance policy. You can get coverage for your whole family under the same plan and the policy would pay the medical costs incurred when any one or more family member is hospitalised. The features of the policy are as follows –
2. IFFCO Tokio Individual Health Protector Policy
As the name suggests, this health insurance plan provides coverage on an individual sum insured basis only. The features of the plan are as follows –
3. IFFCO Tokio Swasthya Kavach Policy
This is a comprehensive family floater insurance policy which covers your whole family under a single sum insured. The salient features of the policy are as follows –
4. IFFCO Tokio Individual Medishield Policy
This policy offers coverage on an individual sum insured basis and is an indemnity health insurance plan. If you are hospitalised, the plan pays the medical bills that you incur up to the sum insured. The features of the policy are as follows –
5. IFFCO Tokio Individual Personal Accident Policy
This is a fixed benefit personal accident plan. The policy covers accidental death and accidental disablements and pays a fixed claim irrespective of the actual medical costs that you incur. The features of the policy are as follows –
6. IFFCO Tokio Critical Illness Insurance Policy
This is a specific critical illness plan which covers a list of critical illnesses. If the insured member suffers from any of the covered critical illness, the sum insured is paid in lump sum. Other features of the plan are as follows –
- Nine critical illnesses are covered under the policy
- There are different add-on covers also which are available under the plan for a wider scope of coverage
7. IFFCO Tokio Health Protector Plus Policy
This is a supplemental health insurance policy which pays you a claim if the claim amount exceeds the deductible that you have chosen. The features of the policy are as follows –
8. IFFCO Tokio Swasthya Raksha Bima
This is an affordable health insurance plan which is designed to cover individuals living in small towns and cities. The policy has the following features –
9. IFFCO Tokio Critical Illness Benefit Policy
This is a critical illness policy paying a fixed benefit if any insured member suffers from a covered critical illness during the term of the policy. The features of the policy are as follows –
- The policy covers a range of 25 illnesses as well as surgical procedures
- You can buy the policy on a floater basis covering your family members under a single plan
- No pre-entrance health check-ups are required till 50 years of age
- Sum insured of up to INR 1 crore can be opted under the plan
10. IFFCO Tokio MOS – BITE Protector Policy
This is a unique policy which covers vector borne diseases which means diseases suffered due to mosquito bites, fleas, etc. The salient features of the plan are as follows –
Coverage under IFFCO Tokio Health Insurance plans
IFFCO Tokio offers a range of health insurance plans and, besides the fixed benefit plans, there are some common coverage benefits in all indemnity oriented health insurance plans. These common coverage benefits include the following –
- Inpatient hospitalisation
If you or any insured member is hospitalised for 24 hours or more, the costs incurred on such hospitalisation are covered under this head. Common costs which are covered under health insurance plans include room rent, ICU charges, nurse’s fee, doctor’s fee, surgeon’s fee, oxygen, blood, medicines, anaesthesia, etc. required in treatments, etc.
If you incur expenses before being actually hospitalised, such expenses are called pre-hospitalisation expenses. These expenses are also covered under health insurance policies up to a specified limit.
After being discharged from the hospital you incur various charges for tracking your health and recovery. These expenses are called post-hospitalisation expenses and they are covered
- Daycare treatments
Treatments which do not require 24-hour hospitalisation due to advanced medical treatments are called daycare treatments. These treatments are covered under all health insurance plans
- Ambulance charges
The costs incurred on an ambulance for taking you to the hospital for treatments are covered up to specified limits
- AYUSH treatments
Many health insurance plans also cover non-allopathic treatments like Ayurveda, Unani, Siddha and Homeopathy (AYUSH). Such AYUSH Treatments, however, are covered up to specified limits.
- Domiciliary treatments
Treatments which are taken at your own home due to non-availability of any hospital bed or if your physical condition is not feasible to be shifted to the hospital are called domiciliary treatments and such treatments are covered.
- Organ donor treatments
IFFCO Tokio Health Insurance plans cover the cost of treatments done on the donor as well as on you in case of organ transplant surgeries.
- Free health check-ups
You also get the benefit of availing free health check-ups after specified intervals under your policy. These check-ups are allowed up to a specified limit of your sum insured and are allowed only if no claims have been made under the policy.
Exclusions under IFFCO Tokio Health Insurance plans
The following instances and treatments are not covered under IFFCO Tokio Health Insurance plans –
- Illnesses within the first 30 to 90 days of buying the policy
- Pre-existing illnesses within their corresponding waiting periods
- Pregnancy and the cost of childbirth unless it is specifically covered
- Congenital illnesses or diseases
- Venereal and sexual illnesses including HIV and AIDS
- Mental disorders or any type of psychiatric illnesses
- Illnesses or injuries due to war, related perils, nuclear contamination or similar threats
- Illnesses due to alcohol and/or drug abuse
- Accidents and injuries suffered when participating in criminal activities or any other adventurous activities
- Circumcision and cosmetic treatments
How to buy IFFCO Tokio Health Insurance plans?
You can buy IFFCO Tokio Health Insurance plans in the following two ways –
- Offline through agents or company’s branches
You can choose to buy the plan offline either through the agents of IFFCO Tokio or by visiting the branch of the company yourself. In this mode of buying IFFCO Tokio Health Insurance plans, you would have to fill up a physical application form and pay the premiums to buy the policy.
Another way to buy IFFCO Tokio Health Insurance plans is the online way. You can visit the company’s website athttps://www.iffcotokio.co.in/, choose ‘Health Insurance’ and then the desired policy. Once you know the policy that you want to buy click on ‘Buy Now’ to buy the policy. Provide your coverage details to calculate the premium. Then pay the premiums online and the policy would be bought.
You can also buy online on Turtlemint’s website. Turtlemint is tied-up with IFFCO Tokio and offers its health insurance plans. You can simply visithttps://www.turtlemint.com/health-insurance and enter in your coverage details to get started. Once all the details are provided, you would get a list of health insurance plans which suit your coverage requirements. You can then compare from the available list of plans and choose the best policy. Fill in an online application form and pay the premiums using any online mode to buy the policy in an instant. Besides allowing you to compare the available plans, Turtlemint also gives you personalised assistance if you have any queries. So, you can buy through Turtlemint for an easier experience.
Things to know before buying IFFCO Tokio Health Insurance plans
Here are some important points which you should keep in mind before you buy any IFFCO Tokio Health Insurance plan –
- Choose a plan which meets your coverage requirements. A basic indemnity health insurance plan is a must which would meet the actual medical costs. If you have a basic policy, you can invest in critical illness plans for increasing the scope of coverage
- The coverage amount should be high so that all the medical costs are comfortably covered by the policy. If you have an existing health plan with a low sum insured, you can opt for a top-up health insurance policy for increasing the coverage at lower premiums
- Buy the plan to cover all the family members who are dependent on you financially
- Choose optional riders and policy add-ons if they meet your coverage needs
How to renew IFFCO Tokio Health Insurance plans?
Renewal of IFFCO Tokio Health Insurance plans is quite simple as you can renew the policies online from the company’s website itself. Just enter in your policy details to check the status of your existing policy and pay the renewal premium on time to renew the policy online.
If you are a Turtlemint customer and have bought the policy from Turtlemint’s platform, you can renew your IFFCO Tokio Health Insurance policy even though Turtlemint. Just log into your online Turtlemint account and renew the plan by paying the renewal premium online. When renewing through Turtlemint, you can also compare your IFFCO Tokio Health Insurance policy with other health plans in the market and if the policy is the best, you can renew it instantly. If, on the other hand, you find a better policy, you can also port your health insurance policy to get a better deal.
How to make a claim under IFFCO Tokio Health Insurance plans?
In case of a health insurance claim, the following steps should be taken to get your claims settled –
- Inform IFFCO Tokio of your health insurance claim at its claim helpline number or by calling its customer care
- Fill up a pre-authorization form and submit it within 24 hours of emergency hospitalisation. If you are undertaking a planned hospitalisation, the form should be submitted at least 3-4 days prior to you being hospitalised
- The company would approve your claim for cashless treatments based on the submitted form if you take treatments at a networked hospital
- Take the treatments that are needed and your bills would be settled by the insurance company
- After you are discharged, fill up a claim form and submit it with other documents related to the claim
- Once the claim form and documents are submitted, IFFCO Tokio would assess the claim and settle it at the earliest
- If you are admitted in a non-networked hospital, you would get a reimbursement claim. You would have to pay the medical costs yourself and the costs would then be reimbursed once you submit the claim form
If, however, you are a customer of Turtlemint, the claim process would become easier. You would just have to inform Turtlemint of your claim at 1800 266 0101 or by emailing at email@example.com. After the company is informed, it would take the necessary steps to get your claims settled without any hassles.
Documents required for health insurance claims
For the successful settlement of your health insurance claim, the following documents should be submitted to the company –
- Claim form
- Discharge summary
- Policy bond
- Identity proof of the claimant
- All original medical bills and hospital bills
- All original medical reports and hospital reports
- Doctor’s prescriptions and certificates
Review of IFFCO Tokio Health Insurance plans
The range of health insurance plans offered by the company make them suitable for the needs of every individual. Thus IFFCO Tokio Health Insurance plans are suitable for whatever type of coverage that you are looking for. The optional coverage features also make the plan inclusive and the premiums are low so that they don’t hurt your pockets. So, you can invest in an IFFCO Tokio Health Insurance plan and fulfil your health insurance needs.