This policy of ICICI Lombard has many features which are beneficial for the policyholders. But, the co-payment feature is not good for buying a policy in a small city and getting treatment in a big city…
ICICI Lombard ‘s Health AdvantEdge Apex Plus insurance policy has an ‘A’ rating. It has achieved a score of 67 percent on Moneycontrol-SecuredNow Health Insurance Ratings. The company has an excellent record in claim handling. It settles the reimbursement claim within 30 days. It has a track record of getting around 87 per cent of claims settled very easily. The complaint rate is only 7.5 out of every 10,000 claims, which speaks volumes about the satisfaction level of its customer base. There are many types of benefits in this plan of ICICI Lombard.
Cover restore feature
The ‘Restore Benefit’ of this plan allows the policyholder to restore the cover after a claim. There is no limit for room rent in this policy. With this, the policyholder has the freedom to choose the room of his choice. The ‘Maximum 100%’ no-claim bonus increases the sum insured without any additional expense. The addition of wellness benefits increases the overall coverage in this plan. This policy also covers the cost of treatment through AYUSH (Ayurveda-Unani-Siddha-Homeopathy).
Claim Protection Benefit
This policy has the feature of claim protection benefit. With this, items not covered under non-payable items in the IRDAI list also get covered in the event of a claim. This increases the overall coverage under the policy. In this, financial protection is available even after the standard exclusion list of IRDAI.
Benefit of wide hospital network
According to SecureNow’s experience, ICICI Lombard’s policy issuance and renewal process is quite convenient. Due to this the customer does not have to face any kind of problem. Wide hospital network is also the strength of ICICI Lobard. Many times the company adds new hospitals to the network on customer request, which shows its flexible approach.
Co-payment for treatment in a big city instead of a small one
There are some geographical limitations in this policy. This is the shortcoming of this policy. For example, if you have purchased a policy in a small city (Zone-2) and get treatment in a big city (Zone-1), then you will have to pay 12.5 percent co-payment. Because of this this policy becomes quite complex. Co-payment refers to a system in which the policyholder has to pay a part of the total claim amount.
