The COVID-19 pandemic has made the entire world realise that medical exigencies can arrive anytime and cause a substantial financial setback that is often tough to handle. The continually rising medical inflation in our country and skyrocketing costs of availing healthcare facilities means that a single instance of hospitalisation can burn a large hole in your pocket and ruin your entire financial planning.
However, you can prevent all this by investing in a reliable health insurance policy. In case of a medical emergency, it would cover most of the healthcare expenses you may incur, including hospital room rent, doctor's consultation fees, costs towards diagnostic tests, medicines, ambulance charges, and even post hospitalisation expenses to a certain extent.
Though there is no shortage of health insurance offerings in India from different insurance providers, one plan stands out in the market - Family Health Insurance. True to its name, it can be the complete solution for yourself and your family members' health insurance requirements. Read on to know more about some significant features and benefits of this plan.
What is ICICI Lombard Complete Health Insurance Plan?
The Complete Health Insurance Plan by ICICI Lombard is a comprehensive medical insurance policy that can secure you and your entire family against unforeseen healthcare expenses. You can either purchase this plan only for yourself or include your family members under the family floater option. This plan comes with an option of lifelong renewability, and you can add your spouse, kids and parents under the floater benefit.
You will also have the flexibility to optimise the coverage based on your precise healthcare needs by selecting add-ons such as maternity cover, OPD cover, critical illness cover, donor expenses cover, etc.
Some other noteworthy features of this plan include:
No limit on hospital room rent
When you get hospitalised, you must pay room rent for staying in the hospital room with all medical facilities. Room rent of a private hospital can quickly run into several thousand rupees for each day. Standard health insurance plans usually put a cap on the coverage of room rent. In case your hospital's room rent is above that capping, you will have to pay the difference out of your pocket.
However, with ICICI Lombard Complete Health Insurance Policy, there will be no capping or limit on hospital room rent. It means that in case of sudden hospitalisation, you can choose to stay in the room of your choice and avail the best possible treatment without worrying about the finances.
No co-pay clause
Under the co-pay clause of a health insurance policy, the insured person or policyholder is liable to bear a particular portion of the medical expenses incurred by him/her during a medical emergency. Usually, health insurance plans come with a co-pay clause, and the co-pay percentage is fixed at the time of policy inception.
However, ICICI Lombard Complete Health Insurance Plan comes with zero or no co-pay clause. It means that in case of a medical emergency, the entire expenses incurred by the policyholder will be borne by the insurance company (except for non-medical costs).
Coverage for pre-existing diseases
Many health policies exclude pre-existing diseases from the ambit of their coverage. However, ICICI Lombard Complete Health Insurance Plan covers pre-existing conditions, albeit after a waiting period of two years. By choosing a sum insured of ₹3 lakhs or more, you will be able to get the coverage for your pre-existing diseases after two years of continuous coverage under the policy.