ICICI Lombard Health AdvantEdge stands as a health insurance policy provided by ICICI Lombard General Insurance Company Limited. This insurance plan ensures coverage for hospitalisation-related expenses, serving as a safeguard for both savings and healthcare. Designed to promote a happy and fulfilling life for you and your family, ICICI Lombard’s Health AdvantEdge Plan offers a robust, comprehensive, and affordable health insurance solution. With highly flexible coverage and an array of features, benefits, and add-ons, the plan caters to the unique medical needs of you and your family.
Here is the review of ICICI Lombard Health AdvantEdge and its distinct features which cater to the needs of common people.
Age limit, coverage and policy options: The minimum age to enter for individuals aged 18 years and for children, the coverage extends from 91 days to 25 years, but the requirement that at least one parent is also covered by the same insurance policy. The maximum age for entry is for adults aged 65 years and for dependent children aged 25 years and does not have his/her independent source of income.
However, the maximum age for coverage is for adults lifelong and for dependent children aged 25 years. The policy term is for 1,2 or 3 years. The sum insured options are as follows.
Prime Plus: 3/4 Lakhs
Royal Plus: 5/7.5/10/15/20/25/30/40/50 Lakhs
Apex Plus: 75 lakhs or 1/1.5/2/3 crore
Waiting period: The initial 30 days waiting period is the initial waiting period and it’s mostly an industry standard, however, it will be waived off in case of accidental emergencies. For the specific ailment and reduction in pre-existing diseases, the waiting period is for 2 years.
Pre and post-hospitalisation medical expenses: This policy provides comprehensive coverage for both pre and post-hospitalization medical expenses. It encompasses expenses incurred during a span of 60 days prior to hospital admission and continues to provide coverage for 180 days following discharge from the hospital.
Daycare treatment coverage: With medical progress, certain procedures once necessitating prolonged hospitalisation are now accomplished within 24 hours. The plan ensures comprehensive coverage for all such daycare treatments, with expenses covered up to the sum insured, without any limitations.
Room rent limit: In ICICI Lombard Health AdvantEdge, there is no capping or provisions on room rent limits and policyholders can choose rooms as per his/her convenience.
Ambulance service: The policy will cover expenses related to surface ambulance services. The coverage limit for this is set at 1% of the sum insured, with a maximum cap of ₹10,000. However, the expenses related to air ambulance services provided by a healthcare or air ambulance service provider are covered up to the sum insured.
Worldwide coverage: Medical expenses incurred during hospitalisation abroad will be reimbursed up to the sum insured. This benefit is applicable for a sum insured of ₹25 lakhs and above.
Guaranteed cumulative bonus: It ensures that for each claim-free year, an extra sum insured of 20% is added, accumulating up to a maximum of 100% at the time of policy renewal. Even in the event of a claim and policy renewal, the accumulated bonus remains in effect.
Restore benefit: This feature allows for the replenishment of the total insured amount, including any accrued additional sum insured, up to 100% of the base sum insured in a given policy year. This option becomes applicable if the existing coverage is insufficient due to previous claims.
Sum insured and claim protector: The plan offers coverage for products not typically covered by your claim with the company. If your claim for in-patient hospitalisation is approved, you can utilise the claim protector feature. Additionally, claims up to ₹50,000 in the previous policy year will not affect the accumulated additional sum insured over the years.
In conclusion, the ICICI Lombard Health AdvantEdge Plan emerges as a comprehensive and flexible health insurance solution. With its robust features such as the guaranteed cumulative bonus, no medical test up to 45 years, restore benefit, and sum insured & claim protector, the plan not only addresses immediate healthcare needs but also adapts to evolving circumstances. This customer-centric approach, combined with its commitment to financial well-being and ease of access, positions the ICICI Lombard Health AdvantEdge Plan as a valuable and reliable choice in the realm of health insurance.
Rohit Gyanchandani is Managing Director at Nandi Nivesh Private Limited
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Published: 11 Feb 2024, 11:11 AM IST