ICICI Lombard offers Health Advantage Plus
PFW Bureau / Nov 5
ICICI Lombard General Insurance, a private sector general insurer, has recently unveiled a health insurance tax saving plan. Health Advantage Plus is the first health insurance product to cover OPD and dental expenses while optimising on tax benefits under section 80D.
Kartik Jain, head, marketing, ICICI Lombard General Insurance said, “Our research indicates that customers want to cover other medical expenses like OPD and dental and are also looking at taking full advantage of the increased tax limits under section 80D. Health Advantage Plus is an innovative product that addresses these requirements along with the basic hospitalisation cover”.
He said, “In addition, by covering pre-existing diseases after two years and increasing the age limit for no health check-up upto 55 years, we have made the product even more attractive.” ICICI Lombard has the second largest health portfolio in the country today and views health insurance as a key focus area”, he added in a statement released by the company.
Policy Coverage
Health Advantage Plus offers two types of covers: Cover A and Cover B.
‘Cover A’ comes with a floater option and offers basic hospitalisation cover, which includes:
Medical charges incurred as an in-patient in a hospital.
Medical charges for 30-day pre-hospitalisation and 60-day post-hospitalisation incurred by the insured. Expenses covered include bed charges, medicines, diagnostic tests, doctors’ fees etc.
Under this cover specified treatments are covered even if hospitalisation is less than 24 hours.
Certain specific ailments are excluded from treatment for two years like cataract, hernia, benign prostatic, hydrocele, sinusitis and related disorders, arthritis, gastric, duodenal ulcers, etc.
‘Cover B’ covers outpatient treatment expenses including:
Out-patient department (OPD) expenses incurred by the customers (which do not require hospitalisation) on written advice by the medical practitioner.
General Practitioner expenses
Pharmacy bills
Maternity expenses
Radiology, Pathology, CT Scan, MRI tests
Dental procedures
While the sum insured under cover A is Rs. 2 lakhs or Rs. 3 lakhs, as per the plan opted, the benefits under cover B vary from Rs 2,000 to Rs 10,000 depending on the plan opted and the policyholders age.
Product Benefits
Pre-existing diseases covered from the third-year onwards upon two consecutive renewals.
No medical check-up is required up to the age of 55 years
Cashless hospitalisation facility at over 4000+ hospitals.
Maximum benefit under Section 80D as per applicable income tax laws.
Floater facility for two individuals with a single premium and sum insured.
Claims Process
For Cover A (hospitalisation): reimbursement of bills or cashless treatment in over 4,000+ hospitals after informing Third Party Administrator (TPA).
For Cover B (Out-Patient Treatment): One time submission of bills any time 90 days after policy start and up to 30 days after policy end date.
Eligibility
Applicant to be above 18 years
Age of entry for senior most member is 65 years, renewable up to 70 years.
Applicant can cover self, spouse, dependent parents and children above
5-years of age.
Key points:
- First Health Insurance Plan in India that offers cover for OPD and Dental Treatment
- Full utilisation of Tax Benefit under section 80D
- No medical check-up required upto 55 years
- Pre-existing diseases covered after two years of continuous renewal
- Cashless hospitalisation in 4,000+ hospitals across the country
|
