All About IFFCO Tokio General Insurance Company, its features, benefits, eligibility, plans offered, buying process, claim process and contact details.
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IFFCO Tokio General Insurance company was established in 2000. It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates (Tokio Marine and Nichido Fire Group). The company provides a list of health insurance products to its customers that caters to the different healthcare needs of its customers. The plans offered by Iffco Tokio Health insurance shells out several benefits such as coverage for in-patient hospitalization, cashless facility, health check-up, ambulance charges, pre & post hospitalization expenses, and many more.
Continue reading to explore more about Iffco Tokio Mediclaim company:
Awards and Recognitions
With changing and evolving healthcare needs of an individual, Iffco Tokio Health Insurance Plans ensures to look after each & every healthcare need of your and your family. The plans offered caters to the different needs of the customers. Continue reading to explore more about the plans:
IFFCO Tokio Plans | Type of Plans | Who to buy? |
Family Health Protector Policy | Family Health Insurance | This plan provides coverage for the entire family at an affordable rate of premium. In this your parents (dependent), siblings, brother-in-law, sister-in-law can also be covered. |
Individual Health Protector Policy | Family Health Insurance | This plan protects you and your family by providing extensive coverage. |
Swasthya Kavach Policy | Family Health Insurance | It offers coverage for an expensive range of medical expenses for you and your family. |
Individual Medishield Policy | Individual Health Insurance | This policy provides you cashless hospitalization and also reimburses your expenses incurred in pre and post-hospitalization. |
Individual Personal Accident Policy | Personal Accident Insurance | An insurance policy that pays an individual a particular sum in case of death, sight loss, or other permanent disabilities. |
Critical Illness Insurance Policy | Critical Illness Plan | It covers the expenses of an individual suffering from any of the 25 listed critical illnesses and surgeries. |
Health Protector Plus Policy | Family Health Insurance | The policy covers the hospitalization expenses to protect you and your family from high treatment costs. |
Swasthya Kavach Bima | Family Floater Plan | An affordable plan for you and your family; designed for small towns and cities. |
MOS-BITE Protector Policy | Vector-Borne Health Insurance Plan | These benefits pay policyholders a lump sum amount on the diagnosis of vector-borne diseases at affordable premium rates. |
Arogya Sanjeevani Policy | Family Health Insurance | It offers wider coverage for your entire family at affordable premium rates. The plan also covers basic medical expenses. |
Corona Rakshak Policy | COVID-19 | This plan provides you 100% sum insured in lump sum amount if you are diagnosed with COVID-19. |
Corona Kavach Policy | COVID-19 | It is specially designed to cover COVID-19 expenses and its related hospitalization expenses. |
Hospital Daily Cash Policy | Daily Cash Benefit | A fixed amount for a continuous period of 24 hours is paid when the insured person is hospitalized. |
**Last Updated on September, 2021
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Let's understand each IFFCO Tokio health insurance plan in detail.
IFFCO Tokio Family Health Protector provides security to the whole family of the insured with the best medical treatment assistance along with numerous benefits at affordable premium rates.
Key Features:
Eligibility Criteria:
Entry Age | 18 - 65 years |
Sum Insured | Rs. 1,50,000 - 30,00,000 |
**Last Updated on September, 2021
IFFCO Tokio Individual Health Protector Policy offers coverage for healthcare expenses like hospitalization, treatment, medicines, etc. on an individual as well as a family floater basis.
Key Features:
Eligibility Criteria:
Entry Age | 18 - 65 years |
Sum Insured | Rs. 50,000 - 20,00,000 |
**Last Updated on September, 2021
IFFCO Tokio Swasthya Kavach Family Health is a family floater health insurance plan that takes care of medical emergencies and ensures that the policyholder gets the best treatment and care without any financial hassles and compromises.
Key Features:
Eligibility Criteria:
Entry Age | Adults: 18 - 65 years Children: 3 months to 23 years |
Sum Insured | Rs.2,00,000 - 5,00,000 |
Member Covered | Up to 5 members |
**Last Updated on September, 2021
IFFCO Tokio Individual Medishield Policy offers medical coverage to the policyholders and their families for the expenses that are incurred due to hospitalization, surgeries, organ transportation, etc.
Key Features :
Eligibility Criteria:
Entry Age | 18 - 65 year |
Sum Insured | Rs. 50,000 - 5,00,000 |
Policy Term | 1 year |
**Last Updated on September, 2021
IFFCO Tokio Individual Accidental Insurance offers essential financial support to the claimant in case of the untimely death of the policyholder because of an accident. The plan also offers coverage in case of permanent total disability, permanent partial disability, and temporary total disability.
Key Features :
IFFCO Tokio Critical Illness Policy assists the policyholder by offering financial support to cope with the health contingencies against the 25 listed critical illnesses.
Key Features:
IFFCO Tokio Health Protector Plus Policy offers financial aid to the individual and his/her family to cope with high medical expenses against serious illnesses.
Key Features:
Eligibility Criteria:
Entry Age | 18 - 65 year |
Sum Insured | Rs.2,00,000 - 25,00,000 |
Policy Term | 1 year |
**Last Updated on September, 2021
IFFCO Tokio Swasthya Raksha Bima policy is an affordable family floater plan especially designed for people dwelling in small towns and cities. The policy covers 2 adults together with dependent children (up to the age of 23 years) at low premium rates.
Key Features:
Eligibility Criteria:
Entry Age | Minimum- 18 years Maximum- 65 years |
Sum Insured | Rs.1,00,000 - 5,00,000 |
Policy Term | 1 year |
**Last Updated on September, 2021
IFFCO Tokio MOS-BITE Protector Policy is designed to provide comprehensive protection against listed vector-borne diseases.
Key Features:
The plan provides coverage against 7 vector-borne diseases:
The policy pays the sum insured in case the policyholder is hospitalized for 48 hours.
No pre-policy medical screening is required to purchase the policy.
Eligibility Criteria:
Entry Age | Adults: 18 - 65 years Children: 91 days - 23 years |
Sum Insured | Up to Rs.1 lakh (in multiples of Rs. 5000) |
**Last Updated on September, 2021
IFFCO Tokio Arogya Sanjeevani is a standard health policy that offers coverage to individuals and their families against medical expenses. The policy offers coverage of up to Rs.5 lakhs.
Key Features:
Corona Kavach Policy shields against the expenses incurred due to COVID-19 related hospitalization/home care treatment.
Key Features:
Eligibility Criteria:
Entry Age | Adults: 18 - 65 years |
Sum Insured | Rs.50,000 - 5,00,000 |
Policy Period | 105 days, 195 days, and 285 days |
**Last Updated on September, 2021
Corona Rakshak Policy provides a lump-sum benefit (equal to 100% of the SI) to the insured on the positive diagnosis of COVID-19. The insured should be hospitalized for a minimum continuous period of 72 hours to avail of the coverage.
Eligibility Criteria:
Entry Age | Adults: 18 - 65 years |
Sum Insured | Rs.50,000 - 2,50,000 |
Policy Period | 105 days, 195 days, and 285 days |
**Last Updated on September, 2021
In these unprecedented times, health care has been majorly affected by inflation, and health insurance has become a necessity that caters to your medical requirements. With around 30 insurance companies available in the market, selecting one is quite a difficult task.
Therefore, to select your ideal health company it is important for you to first evaluate them on certain parameters such as market share, network hospitals, solvency ratio, and claim support (within 3 months).
For your convenience, we have evaluated Iffco Health Insurance Company on the above-mentioned parameters.
IFFCO Tokio Health Insurance offers a lifetime renewability option. With this feature, the policyholder ensures that the policy can be renewed for lifelong without any age limit or other restrictions.
Checking network hospitals is an important factor while selecting an insurer as this will give you an idea of how easily you can avail of cashless facilities at the time of medical emergency/ hospitalization.
IFFCO Tokio has a huge network of 6400+ network hospitals across India, providing hassle-free and smooth cashless facilities where you don't have to pay a single penny at the hospital. The medical expenses will be directly managed by the insurer, thus it lowers the financial stress on your pocket.
Here is a graph showing the network hospitals of IFFCO Tokio and other top insurance companies.
Network Hospitals of IFFCO Tokio with other top companies
**Data from IRDAI Annual Reports
IFFCO Tokio has the option of reimbursement where the amount paid by the insured person at the time of hospitalization will be refunded after 10-12 days by the company.
Claim support determines the claim settling ability of an insurance company, and before buying a health plan, one should always analyse this factor. As per IRDAI Annual Report, IFFCO Tokio has settled 81.67% of claims within 3 months.
Claim Support of IFFCO Tokio and other Insurers
**Data from IRDAI Annual Report 2019-20
For a better understanding, let's understand the claim support of IFFCO Tokio Health Insurance of the last 4 years i.e., from 2016-2020.
Claim Support of IFFCO Tokio from FY 2016-2020
**Data from IRDAI Annual Reports
A company's solvency ratio plays an important role in determining the ability of a company to meet its long-term obligations. This factor is a basic measure of how financially sound an insurance company is and also about its ability to pay claims. Solvency ratios are available in the Insurance Regulatory and Development Authority of India (IRDAI) Annual reports. IRDAI prescribed various standards such as insurers are required to maintain a solvency ratio of 1.50. As per IDRAI Annual Report 2019-2020, the solvency ratio of IFFCO Tokio is 1.6.
Solvency Ratio of IFFCO Tokio Health Insurance from FY 2016-20
**Data from IRDAI Annual Reports
As per IRDAI Annual Report 2018-19, the annual gross premium was 799.81 crores and, in 2019-20, it has increased to 1315.81 crores. At Present, IFFCO Tokio commands 2.59% of the market share.
Annual Gross Premium of IFFCO Tokio Health Insurance from FY 2016-20
Data from IRDAI Annual Reports 2019-20
We have summarized the above information. Go through the data carefully and choose your plans wisely.
Network Hospitals | 6400+ |
Solvency Ratio | 1.6 |
Claim Support (within 3 months) | 81.67 |
Annual Gross Premium 2019-20 (in Crores) | 1315.81 |
Market Share (in %) | 2.59 |
Renewability | Lifetime |
Number of members | 5 members (up to 3 children and adults) |
**Last Updated on September, 2021
Iffco Tokio Health plans come with several benefits and discounts. Take a look at the below points to explore all those benefits and features:
The plan covers the medical expenses incurred for 60 days before the hospitalization and 60 days after the discharge from the hospital.
The medical expenses for AYUSH treatment that involves Ayurveda, Unani, Siddha, and Homeopathy are also covered under this plan.
After the completion of 4 claim-free years, the expenses on health check-up are reimbursed. The amount that is reimbursed is up to the maximum of 1% of the average sum insured.
It covers the daycare procedures for 140+ treatments listed under the plan that requires hospitalization for less than 24 hours.
The ambulance charges are also covered for transportation of an insured person from one hospital to the other.
IFFCO Tokio has a facility of 24X7 call assistance for settling claims related to health insurance.
The policyholder with any other insurer has the option to switch their policies to IFFCO Tokio.
Under this plan, critical illnesses such as cancer, stroke, heart surgery, major burns which are life-threatening and require immediate treatment are also covered.
Get the tax benefit on paid premiums under section 80(D) of the Income Tax Act, 1961.
The expenses incurred on prescribed medication which are required during treatment are covered under this policy.
There are some medical conditions and health care expenses that are not covered under this policy. Here are the major exclusions:
Online insurance buying can be tricky. You need a smooth and secure navigation process to buy health insurance. You can buy it from the officical website or the trusted avisor PolicyX.com. Let's check them out.
From the Company's Official Website:
From PolicyX.com:
There are two ways to file an IFFCO Tokio health claim. Let's have a look.
Note: Approval for the cashless claim will be sent within 24 hours of receiving the required documents.
Follow the below-given steps for the IFFCO Tokio Health Insurance renewal process:
Contact Address:
IFFCO Tokio General Insurance Company, Corporate Office, IFFCO Tower, Plot No. 3, Sector 29, Gurgaon - 122001, Haryana, India.
Customer Support:
IFFCO Tokio Health Insurance Customer Care Number : 1800-103-5499
E-mail: websupport[at]iffcotokio[dot]co[dot]in
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*Terms and Conditions May Apply
Yes, a mobile application 'IFFCO Tokio - Customer' is available for 24/7 assistance regarding queries against IFFCO Tokio policies.
Yes, you can.
No, they aren't covered by the company.
The policyholder is liable to get tax benefits under Section 80D of the Income Tax Act, 1961.
During the policy time, you can make as many claims as you like as long as your sum insured is not exhausted.
The need for pre-entrance medical examinations totally depends on the plan you choose, your entry age, and the sum insured you have selected. However, keep in mind that in the older age, Pre-entrance medical examinations are necessary.
Having a family history of Diabetes & BP may impact your premiums, as a customer with diabetes has to pay more than a person without a preexisting condition.
Yes. In that case, both health insurance plans will split the claim equally (up to the sum assured) and cover your medical expenses.
Generally, Group Health Insurance doesn't offer a vast coverage, and hence can fall short at the time of a medical emergency. Moreve, if in future you decide to switch the company, you will be left with no coverage at all.
Therefore, buying another plan along with a Group Health Policy is not a bad idea.
Visit the Iffco Tokio official website's 'Claim Status' section to check the status of your insurance policy. After that, enter your policy/claim number and click 'Submit.' The next page will show the status of your Iffco Tokio policy.
(Showing latest 5 reviews only)
November 22, 2021
Ravinder Dewan
DelhiOctober 19, 2021
Katrina
Delhiits reputation preceded itslef! good job on the products....i have plenty options to choose from and it should help
October 18, 2021
Samay Tij
Delhithe customer support is great...i needed money to cover my hospital fees and the company has been prompt in their response
October 13, 2021
Kashish Goel
Chennaimy mother was recently diagnosed with cancer and I truly appreciate how iffco handled my claims without a lot of trouble! Thanks to the team involved
October 12, 2021
Pradeep Madhi
RanchiBahut badiya company hai. Very good this company helps us. MY family and me are happy to have buyed the policy from IFFCO Tokio.
Last updated on September, 2021
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Good Customer service, and very very good plans at affordable price. very quick claim settlement process.