IFFCO Tokio Group Health Insurance

IFFCO Tokio Group Mediclaim Insurance Policy provides a well-structured plan to cover various needs of individuals in need of different health plans. IFFCO Tokio plans are suitable for a wide variety of group structures at a very reasonable cost. IFFCO Tokio policies are quite cost-effective for employers with a decent tax benefit.
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Key Statistics of IFFCO Tokio Group Health Insurance
GHI Premiums
₹1,000 crores
FY 2021
GHI lives insured
25.15 lakh
FY 2020
Health lives insured
2.57 cr
FY 2020
Health claims Processed
5,04,168
FY 2020
Health claims Settlement Ratio
96.33%
FY 2020
Claims Settled within 3 months
81.35%
FY 2020
*Source - IRDAI and IBAI annual reports  **GMC - Group Medical Cover
***Claims Settlement Ratio (CSR) is the percentage of claims settled by the insurance company against the no. of claims obtained in a financial year. A high claim settlement ratio indicates the good financial health of the insurance group.
GHI Premiums
₹1,009 crores
FY 2021
GHI lives insured
53 lakhs
FY 2020
Health lives insured
1.72 crores
FY 2020
Claims Processed
1,67,673
FY 2020
Claims Settlement Ratio
86.52%
FY 2020
Claims Settled within 3 months
86.42%
FY 2020

Why go for group insurance?

Here are reasons why Plum and IFFCO Tokio is the right choice for your group insurance needs:
Added Advantage
Today is the era when besides salary, an employee also looks at the work environment and extra benefits that come along with the job. When it comes to Health Insurance, group medical policies act as one of the best benefits that an employee expects.
Tax benefits
Besides being advantageous for employees, a corporate that opts for a group medi claim policy, provides tax benefits to the employers. The expenses incurred on group health insurance are deductible as business expenses and help lower the overall taxable income.
Employee Satisfaction
With rising medical costs, a health cover for an employee and his family can motivate the workforce. Recent times have shown everyone the importance of health covers and when the employer provides a cover, it can create a sense of belongingness towards the company.
Aids retention
Employers take various steps to retain good employees. Employees try to stay at a job where they are valued most and have a sense of belonging. A policy that provides a decent cover for them and family can aid employee retention by creating a faith towards the employer.
Highlights of IFFCO Tokio Group Health Insurance
Industry experience of 20+ years
Customized coverage plans based on the company’s needs
Extensive network of 6900+ hospitals across India
A highly trusted brand within the insurance sector
Lucrative tax benefits for the employer
Offers cover from day 1 of enrollment
Awards and Recognitions
Future of Digital Innovation Awards 2021
IDC Future Enterprise Awards for India
Asia's Best General Insurance Company
Asia's Best & Emerging Insurance Company Awards 2021
Technology Leader of the Year
BFSI Excellence Awards 2021
Best General Insurance Company in Claim Management
India's Best & Emerging General Insurance Company Awards 2021
Social Media Campaign Award
The Great Indian Marketing Awards 2021
Best Insurance Company in Private Sector
General 2014
Asia's Top Most Influential Insurance Leaders
Insurance Alerts 2020
Excellence in Financial Reporting
ICAI Awards 2015-16
Top Projects in India
SKOCH Order-of-Merit
Best Customer Experience Award of the Year
Financial Sector
iAAA rating
ICRA
iAAA rating
ICRA
Best Insurance Company in Private Sector
General 2014
Gold Shield
ICAI Awards 2012-13
HR Excellence
Technology award 2012

Standard benefits offered by IFFCO Tokio Group Health Insurance

Here’s a look at the group health benefit plans offered by IFFCO Tokio:
Standard Benefits
Lower Premium
Group mediclaim policy by IFFCO Tokio, health cover at affordable rates compared with individual health plans.
Customization
Policy can be tailor-made to the specific requirement of an individual member of the group.
Single Policy Covers all
This policy is issued under the organization’s name and covers the members of the group all at once in the policy.
Cashless claims
Policy provides cashless claim features at various network hospitals of Iffco Tokio general insurance.
No waiting period
Health policy with IFFCO provides cover from the very first enrollment in the policy.
Other Incentives
IFFCO Tokio policy provides various benefits to the enrolled members of the policy, which can act as an added perk for employees.
Family Members cover
Policy comes with a possibility to include the employee’s family in the cover, which can help dependents in a medical emergency.
Additional Benefits
No Health Check-ups for enrollment
The policy does not require the group member to go for mandatory health check-ups prior to enrollment.
Diagnostic and Consumables
In case of hospitalization, this policy provides cover for various diagnostic tests and consumables utilized during treatment.
Pre- and Post-Hospitalization expenses
Expenses incurred and pre and post-hospitalisation 30 and 60 days respectively.
Domiciliary Hospitalization
Coverage for Domiciliary at reasonable and customary level charges.
Room Rent and Boarding charges
Coverage for room rent and boarding charges.
Ayush Treatment
Cover for treatment undertaken up to a reasonable level.
Please note that Plum has collated and presented this data for informational purposes only and at a particular point in time. Plum does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer. The final terms, conditions, and premiums may vary depending upon factors including group size, age, location, and applicable taxes.

Here’s how IFFCO Tokio Group Insurance is better with Plum

Here are reasons why Plum and IFFCO Tokio is the right choice for your group insurance needs:
Single Dashboard
Employers get an admin dashboard with Plum that allows them to simply manage their employees, such as adding, deleting, or filling up employee information, among other things.
Easy Claim Procedure
The Plum claims process is quite straightforward, and it can be started over the Plum WhatsApp chat, which gives employees a lot of convenience and comfort. Downloading the policy document, seeing policy details, and so on are some of the other actions that can be performed via chat.
Mobility
Employers can access employee insurance data, check claim status, and file a claim via the Plum admin dashboard, using any device.
Extra Perks
Besides providing insurance to its employees, Plum also provides a variety of additional wellness benefits. This feature makes the Plum offer much more appealing in today's demanding world.
Different Organization structures
Regardless of the size of your company, PLUM can provide you with competitive estimates for your group insurance needs.
Competitive Pricing
Plum offers the best quotes from top insurers for a wide range of group plans.

Lodging a Claim Under IFFCO Tokio Group Health Insurance Plans

In the case of a medical emergency covered under your IFFCO Tokio Group Health Insurance Plan, you should contact the insurance company immediately and register your claim. The other claim-related steps are:
Claim form
Doctor's certificate.
Summary of the discharge.
Bills.
Prescriptions.
Receipts in advance and at the end.
Reports from diagnostic tests, X-rays, scans, and ECGs, as well as other films.
Cashless Claim Form
Supporting Medical Documents
Health Card Membership Number
For cashless hospitalization, locate and get admitted to a networked hospital.
Fill up a pre-authorization claim form and submit it 72 hours before a planned hospitalization. In the case of an emergency, submit the form within 24 hours of hospitalization.
Based on the details furnished in the pre-authorization claim form, cashless claims will be accepted or rejected.
If accepted, you can avail of cashless treatments, and the insurer would foot the medical bills directly.
In the case of admission to a non-networked hospital, you would have to pay the medical bills yourself. After discharge, fill and submit the claim form with all the relevant medical documents. The insurer would then reimburse the claim.
Filled claim form
Identity and age proof
A copy of the health card or policy document
Doctor’s prescription advising hospitalization
KYC documents
Discharge summary issued by the hospital
MLC or police FIR for accidental claims
In case of reimbursement claims, original copies of hospital records, diagnostic reports, and hospital bills has to be submitted along with bank details of the insured member

Conclusion

IFFCO Tokio Group health Insurance provides a comprehensive cover with the option of personalization as per different requirements of the individuals in the group. Group health insurance provides aids to reduce the financial burden on the employee through providing coverage against various medical procedures expenses and aiding in enhancing the loyalty of the employees towards the organization.

Frequently asked 
questions

Do IFFCO Tokio group plans cost cheaper than individual health insurance?

Yes, as the plan provides coverage to many individuals, the risk associatedgets spread between them. These factors make the plan cheaper than individual health plans.

Do IFFCO Tokio group plans provide cover for Pre-existing conditions?

Yes, Pre-existing conditions are covered under this plan. A discussion with the insurance representative will provide more clarity.

Can an Insured file claim more than once under group plans?

Yes, there is no restriction on the number of times a policy claim can be opted, depending upon the cover.

How do we get the policy quotation from Plum Insurance?

Click the link and get a quote or talk to an expert to help you with your needs.