IFFCO Tokio Health Insurance Company

IFFCO Tokio General Insurance Company Limited is a joint venture between the Indian Farmers Fertilizer Co-operative Limited (IFFCO) and Tokio Marine Group. It was formed in the year 2000. IFFCO and Tokio Marine Group share 51 percent and 49 percent shareholding respectively. The company offers a one-stop solution for different insurance products like health insurance, travel insurance, two-wheeler insurance, and home insurance.

Highlights of IFFCO Tokio Health Insurance Company

Claim Settlement Ratio 95.82%
NCB* 5% of SI, up to 50%
PED Waiting# 48 months
Network Hospital 7000+

Compare Top Health Plans from IFFCO Tokio Health Insurance

Iffco Tokio Arogya Sanjeevani Policy
Iffco Tokio Individual Health Insurance Policy
Iffco Tokio Family Health Insurance Policy
Features
Room Rent Charges Covered
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Ambulance Charges Covered
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Co-Pay
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Critical Illness Covered
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Day Care Procedure Covered
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Cashless Treatment
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Lifetime renewability
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Features
Room Rent Charges Covered
Ambulance Charges Covered
Co-Pay
Critical Illness Covered
Day Care Procedure Covered
Cashless Treatment
Lifetime renewability

Awards and accolades won by IFFCO Tokio Health Insurance Company

For the last two decades, IFFCO Tokio has been fulfilling the needs of its customers and maintaining its position to become the top brand in the retail and corporate sectors. IFFCO Tokio has achieved various awards and accolades in its journey. Some of them are as follows:
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Insurance Asia News Award awarded IFFCO Tokio as P & C Insurer of the Year.

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In the 4th Annual India's Best & Emerging General Insurance Company, IFFCO Tokio was awarded Best Insurance General Company in claim management.

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Nav Bharat Group has awarded IFFCO Tokio as the Best Health Care Insurance provider.

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IFFCO Tokio has received many awards at the SKOCH Awards.

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In the year 2018-19, IFFCO Tokio was recognized as the Most Desired Company of the Year.

Key Highlights of IFFCO Tokio Health Insurance

Key Features

Specifications

Network Hospital

7000+ Hospitals

Claims Settled

Over 11.79 Lakhs Claims

Claim Settlement Ratio

Over 95.82%

Gross Direct Premium

Rs. 10,044 Crore

No. Of Employees

Over 5500 employees

Features of IFFCO Tokio Health Insurance

Features

Meaning

Hospitalization cover

Under this cover, 24-hour hospitalization and its associated costs are covered. If you are hospitalized for 24 hours or more and incur medical costs on room rent, doctor’s fee, nurse’s fee, etc. such costs would be paid

Pre- and post-hospitalization cover

Before you are hospitalized and after you are discharged, you might incur medical expenses on consultations and diagnostic tests. These medical expenses are covered under pre- and post-hospitalization coverage respectively. The coverage is available for a specific number of days

Domiciliary hospitalization

Hospitalization done at your home falls under this cover. The coverage is available if your condition is not stable enough to be moved to a hospital or if there is no vacancy in any hospital

Ambulance cover

If you need ambulance services, the cost of hiring the ambulance would be covered by the policy up to specified limits

Organ donor cover

If you are receiving an organ, the hospitalization cost of the donor and the cost of harvesting the organ would be covered under the policy

AYUSH cover

AYUSH includes non-allopathic treatments that are taken through natural or alternative sources of medicine. Many health plans allow coverage for AYUSH treatments

Free health checks

IFFCO Tokio allows free preventive health check-ups to its policyholders at specific intervals so that you can monitor your health

No claim bonus

If you don’t raise a claim in your policy, you are rewarded at the time of renewals in the form of a no-claim bonus.

Exclusions in IFFCO Tokio Health Insurance

Despite being comprehensive in their scope of coverage, IFFCO Tokio health insurance plans have exclusions wherein claims are not payable. The exact list of exclusions is policy-specific. However, some of the most common exclusions include the following –
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30-day exclusion for all illnesses occurring immediately after buying the policy

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A specific waiting period for specified treatments like cataracts, fissures, tonsillectomy, etc.

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A waiting period ranging from 12 months to 48 months for pre-existing conditions

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Cosmetic treatments

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Cost of consumables

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HIV, AIDS, or sexually transmitted illnesses

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Claims due to war, nuclear perils, mutiny, etc.

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Unproven medical treatments

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Treatments due to alcoholism, drug abuse, self-inflicted injuries and criminal acts

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Participation in hazardous or adventure sports

Health Insurance plans offered by IFFCO Tokio

While IFFCO Tokio offers different types of plans, some of the most popular plans offered by the company are as follows –

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Health Protector:

Offered both as Individual Health Protector and Family Health Protector plans, this is a comprehensive policy that allows coverage for you and your family. The salient features of the plan are as follows –

  • Coverage for critical illness: The policy covers specific critical illnesses. If you suffer from any of the covered illnesses, the sum insured is doubled up to provide additional assistance to cover the expensive treatment costs.

  • Vaccination cover: The policy covers the cost of vaccinations up to specified limits.

  • Emergency services: If you suffer from an emergency medical condition, you get a range of emergency services like medical consultation and evaluation, repatriation, evacuation, cash coordination, etc.

  • Daily cash allowance on hospitalization: In the case of hospitalization for 24 hours or above, a daily cash benefit is paid. This benefit is equal to 0.15% of the sum insured up to Rs.1000/day

  • Sum insured restoration: In the case of an emergency medical need, the sum insured is restored if you have used it on a previous claim. This gives you additional coverage so that you can meet the costs of the emergency treatment without worrying about the coverage.

Eligibility conditions:

 Sum insured  Rs.1.5 lakhs to Rs.30 lakhs
 Entry age  Adults – 18 yrs to 65 yrs Dependent   Children – 1 day onwards provided   either of the parents is insured
 Pre-existing waiting period  48 months
 Premium payment frequency  Annual Half-yearly Quarterly Monthly

 

 

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Corona Kavach policy:

This is a standardized health insurance plan offered to cover COVID-related medical complications. The salient features of the policy are as follows –

  • Coverage for home treatments: If you are taking treatments at home because of the unavailability of a hospital bed or because your condition does not allow hospitalization, the costs incurred on the treatments taken would be covered.

  • AYUSH cover: You get coverage for treatments taken through non-allopathic modes like Ayurveda, Unani, Siddha, and Homeopathy.

  • Full family cover: You can avail coverage for yourself, your spouse, dependent children, dependent parents, as well as dependent parents-in-law.

  • Optional hospital cash coverage: You can opt for an optional benefit of daily cash allowance wherein a daily benefit is paid for each day of hospitalization at 0.5% of the sum insured that you have chosen.

Eligibility conditions:

 Sum insured  Rs.50,000 to Rs.5 lakhs
 Entry age  Adults – 18 yrs to 65 yrs Dependent   Children – 1 day to 25 years
 Policy term  3.5 months, 6.5 months, 9.5 months
 Pre-existing waiting period  15 days

Eligibility conditions

Minimum entry age

18 years for adults and 3 months for children

Maximum entry age

65 years for adults and 25 years for children

Sum insured

Up to INR 1 Crore

Policy term

1 year

Policy Type

Individual/Family plan

Number of family members covered

Self, spouse, dependent children and parents, dependent siblings

Renewability

Lifetime renewability

Waiting period (Initial waiting period)

30 days

Waiting period (PED)

48 months

NCB

5% of SI, up to 50%

How to buy IFFCO Tokio Health Insurance Plan?

Go to the official portal of IFFCO Tokio Health Insurance. Go to “Health”. Answer a few questions about the policy seeker and submit to get quote.

Or visit the Paybima portal and select Health Insurance from the options available.

1

Visit the Paybima homepage and click on the ‘Health Insurance’ tab in the dropdown menu.

2

Fill in your required details and request a callback.

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A Paybima representative will help you buy the most suitable plan.

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You may also reach us at 1800 267 67 67 from 10 AM to 7 PM, or

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You can visit a Paybima branch near you.

The process of renewing IFFCO Tokio Health Insurance Policy

How to File a IFFCO Tokio Health Insurance Claim?

The claim process of the IFFCO Tokio insurance policy is easy and simple. The process is discussed as follows:
1
Find and get admitted to a networked hospital:

Locate the nearest network hospital of IFFCO Tokio. You can locate the hospital online or call the company’s claim department or helpline number to find one. A cashless claim can be easily availed at a network hospital. Get admitted by showing identity proof and the health card issued by the company for cashless claims.

2
Inform the insurer:

You should register your claim with IFFCO Tokio beforehand. Inform the insurer of the claim and get it registered.

3
Submit the pre-authorization claim form:

To get approval for a cashless claim, fill out and submit a pre-authorization claim form. The form is available online on the company’s website as well as at the hospital. Complete the form, sign it, and submit it to get approval for a cashless claim.

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Getting the treatment:

Once the approval from the insurance company has been received for a cashless claim, the hospital will begin the treatment. The hospital bills would be handled by the insurer directly.

5
Reimbursement claims:

If your cashless claim is not approved, you can file a reimbursement claim. Moreover, if you get admitted to a non-network hospital, your claim would be settled on a reimbursement basis. In such cases, you have to pay the medical bills yourself. Thereafter, post-discharge, file the claim and submit all the original medical documents. The claim would be verified and the insurer would reimburse you for the costs that you have incurred. You can contact us via email at [email protected] or call 1800 2676767 for any kind of claim-related assistance. Some documents are required to be submitted along with the claim form to enable the company to assess your claim.

The list of documents required to settle an insurance claim includes the following:
 

  • Pre-authorisation claim form

  • ID proof of the insured individual

  • Original Company bills and reports

  • Original bills and receipts

  • Policy Papers of the insurance.

  • Bank details of the insured to make the payment of reimbursement claim

  • Consultation notes

Guaranteed Claim Support

When you buy or renew a health insurance plan from us, we guide at every step till your claim is settled.

Start your claim process with us to get our support

Review of IFFCO Tokio Health Insurance Company

IFFCO Tokio offers different types of insurance plans with comprehensive coverage and competitive pricing. Other highlights of the company are as follows -
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There are different types of premium discounts that you can avail

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The company offers insurance plans for the urban as well as the rural segments of the society

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IFFCO Tokio is well-known for speedy claim settlement. It boasts of settling its claims within 4 hours

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