ICICI Lombard
Elevate
ICICI Lombard Elevate is a decent pick, which, while basic, offers quite a list of lucrative features. Apart from the standard perks, the policy has a special benefit —coverage for surrogate mother and Oocyte donor expenses up to ₹5 lakhs. The drawbacks of the plan exist, but they are not extensive—room rent restriction up to a single private room and a measly loyalty bonus of 20% to 100%. Unfortunately, the real hurdle here is the reputation and credibility of ICICI Lombard as a healthy insurance provider.
What's good here?
Surrogate & Oocyte Cover
This policy provides coverage for surrogate mother and Oocyte donor expenses up to ₹5 lakhs.
This policy provides coverage for surrogate mother and Oocyte donor expenses up to ₹5 lakhs.
You’ll never have to split the bill
The insurer will bear the entire cost of treatment (up to the sum insured). You won’t have to pay a single penny. Meaning this policy has no co-payment.
Pre & Post hospitalization expenses covered
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 90 days before you are hospitalized and 180 days after discharge. This includes the cost of medication by the way.
Day Care treatments covered
If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.
Full coverage even if you are forced to hospitalize at home
The insurer will bear the costs even if you are hospitalized at home due to a condition or the hospital running out of beds. In insurance lingo, they call this a policy with domiciliary cover.
You always have full cover irrespective of the disease
No funny business here. If your insurer hasn’t explicitly stated they won’t cover a certain illness, you can claim the full amount up to the sum insured, irrespective of the disease you’re dealing with. Meaning this policy doesn't impose the dreaded disease wise sub-limits.
Unlimited Restoration Benefit
Even after you claim part of the cover on one occasion, you will be allowed to claim the full cover any number of times repeatedly if you are hospitalized in the future. All in the same year by the way!!!
Special Bonus for being healthy
Your sum insured increases by 20% each year, even if you've claimed in the previous year. But before you get too ahead of yourself, do note that they’ll stop offering you the bonus when your sum insured increases by 100%. But hey, it's still a bonus.
Covers Alternative Medicine
Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will cover you fully, up to the sum insured.
What's okay here?
You can pick a Single Private room but nothing fancy
You can share a room or you could have a single room for yourself. But if you are looking for anything slightly fancy, be ready to foot a part of the bill.
Reasonable waiting period for pre-existing diseases
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after you wait for 3 years.
What's lacking here?
Your insurer doesn’t provide free health check-ups
If you want to get a full-body checkup just to make sure you’re in fine working condition, be ready to pay for it yourself or get an add-on to cover free health check-ups under the policy by paying a little extra in the premiums.
If you want to get a full-body checkup just to make sure you’re in fine working condition, be ready to pay for it yourself or get an add-on to cover free health check-ups under the policy by paying a little extra in the premiums.
Add-ons
Reduction in PED
This optional cover reduces the applicable pre-existing waiting period from 36 months to either 24 months, or 12 months. If you are currently diagnosed with any condition and want to reduce the waiting period, it makes sense to opt for this add-on.
Claim Protector
With this add-on, you also get extended coverage for generally excluded items like syringes, gloves, PPE kits etc.
Power Booster
With this add-on, you get an added bonus of 100% of the base sum insured each other with no maximum capping. This benefit is not applicable for unlimited sum insured cover.
Maternity Waiting Period Reduction
With this add-on, the insurance company will reduce the maternity waiting period from 2 years to 1 year.
Personal Accident Cover
With this add-on, the insurance company will payout a lumpsum of 100% your sum insured, in case the proposer of the policy passes away in an accident. The payout will be made subject to a cap of 50 lakh in total.
Room Modifier
With this add-on, the insurance company modifies the room rent restriction from Single Private Room to either Any Room or Twin Sharing Room.
Reduction in Specific Illness Waiting Period
With this add-on, the insurance company reduces the Specific Illness Waiting Period from 2 years to 1 year.
Compassionate Visit
With this add-on, the insurance company will pay a certain amount to cover the cost of economy-class air ticket in case an Immediate Family member is visiting the insured person for hospitalization extending more than 5 days.
Durable Equipment Cover
With this add-on, the insurance company will cover the cost of durable items like Ventilator, Wheelchair, Prosthetic device, Suction Machine, etc up to 5L or base sum insured; whichever is lower.
Co-payment
This benefit helps to opt for co-payment between 10% to 50%.
Jumpstart
With this add-on, there will be no additional loadings imposed other than the cost for this additional cover. This cover is built for insured members who would have either of these diseases - Asthma, Diabetes, Hypertension, Hyperlipidaemia, Obesity (BMI > 35) or PTCA done earlier. The PED waiting period for listed ailments will be reduced from 3 years to mere 30 days.
Annual Health Check-up
With this add-on, you get free health checkups every year subject to certain limits and tests prescribed in the policy document. However you can only claim this on a cashless basis at one of the network hospitals.
Maternity
With this add-on, you get added coverage for maternity expenses i.e. childbirth . However, the coverage is limited to 10% of the base sum insured maximum up to ₹1 Lakh with Maternity Waiting Period ranging between 1-2 years.
Critical Illness
With this add-on you get a lumpsum payment in the event you are diagnosed with critical illnesses outlined in the policy document.
Infinite Care
With this add-on, the insurer covers the medical expenses incurred for the hospitalization of the insured person for any one claim during the lifetime of the policy, without any limits on the annual sum insured.
Inflation Protector
With this add-on, the insurer will increase your cover in line with inflation every year.
Convalescence Benefit
With this add-on, the insurance company will payout a fixed amount in case the hospitalization exceeds more than 10 continuous days. This benefit is available once per insured member per policy year.
Dependent Accommodation
With this add-on, the insurance company will pay a specified amount for the accommodation of the dependent in the hospital if the hospitalization is of at least 3 days.
Nursing at home
With this add-on, the insurance company will payout a certain amount each day for medical services of a nurse at residence for a maximum of 15 days post hospitalization.
Frequently Asked Questions
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