IFFCO Tokio Health Insurance vs Star Health Insurance
These days, health insurance has become more of a necessity than a choice. With the onset of the Coronavirus pandemic, more and more people need quality and affordable healthcare. In times of a health crisis, health insurance provides coverage to you at affordable costs. Based on your needs and budget, you can decide which policy to avail of. Here’s a comparison of IFFCO-Tokio versus Star Health Insurance to get you started.
IFFCO-Tokio and Star Health Insurance Comparison – Overview
|Parameter||IFFCO-Tokio||Star Health Insurance|
|Number of health insurance plans||13||11|
|E-services||Policy purchase, renewal, claim settlement, online consultation, 24×7 customer support.||Policy purchase, renewal, claim settlement, online doctor consultation, 24×7 customer care.|
|Claim settlement ratio||98.47%||90%|
|Claim settlement time||Cashless claims settlement within 24 hours||Cashless claims settlement within 2 hours|
Source: Insurance Regulatory and Development Authority of India (IRDAI) Annual Report 2018-19.
Health Insurance Policy: IFFCO-Tokio Versus Star Health Insurance
IFFCO-Tokio offers 13 health care plans. From covering financial risks and personal accidents to vector-borne diseases, critical illnesses, and Covid-19, their health plans provide extensive coverage for individual and family needs.
Star Health Insurance offers 11 health insurance policies. These plans provide coverage for individual, family, and senior citizen needs. They also cover critical illnesses, COVID-19, etc.
Listed below are the key points after an IFFCO-Tokio and Star Health Insurance comparison. Go through them so you can select a plan that suits your specific needs.
Individual and Family Health Insurance Plans:
IFFCO-Tokio offers separate Individual and family health protector policies. They also cover individual and family needs in the rest of their policies. Features include:
- Covers pre and post-hospitalization charges
- Offers over 160+ day-care procedures
- Provides health check-ups and vaccinations
- Covers critical illnesses and provides emergency assistance services
- Provides coverage for alternate AYUSH treatment
Star Health Insurance offers individual and family floater plans. Key features are:
- Provides coverage for in-patient, pre-and post-hospitalization charges
- Covers maternity expenses, newborn expenses, organ transplants, and others
- Covers expenses for day-care procedures and AYUSH treatment
- Includes regular health check-ups and second consultations
- Charges an affordable premium and offers a high sum assured
Critical Illness Health Insurance Plan
IFFCO-Tokio offers a comprehensive critical illness plan that provides coverage for 25 critical illnesses and surgeries. The highlights are:
- Covers major illnesses like multiple sclerosis, kidney failure etc.
- Covers expenses for organ donor transplant and surgeries like open heart/ open-chest CABG, etc.
- Offers a sum assured value up to Rs.1 crore
- Issues policy without a medical test for individuals up to the age of 50
- Offers lifelong renewability
Star Health Insurance has a critical illness policy that covers 9 critical illnesses. Key offerings include:
- Provides coverage for 9 critical illnesses including cancer, kidney disease, major organ transplant, etc.
- Covers regular hospitalization costs
- Provides coverage for non-allopathic treatment
- Offers lump sum payout and lifelong renewability
Arogya Sanjeevani Health Insurance Plan:
Arogya Sanjeevani policies aim to provide standard health coverage at the most affordable premium rates. Both IFFCO-Tokio and Star Health Insurance Arogya Sanjeevani policies ensure that quality health care is available to all.
Features of IFFCO-Tokio’s Arogya Sanjeevani plan are:
- Provides a sum assured of maximum Rs.5 lakhs
- Covers pre, post and in-patient hospitalization charges
- Allows payment of premium in monthly/quarterly/yearly spans
- Covers expenses for AYUSH treatment and dental treatment caused by a disease/ injury
- Extends the scope of coverage to individual, partner, parents, parents-in-law and dependent children
Features of Star Health Insurance’s Arogya Sanjeevani plan
- Offers a sum assured value up to Rs.10 lakhs
- Covers pre and post hospitalization charges
- Covers room rent and ICU expenses
- Provides day-care and AYUSH treatment
- Allows issue of policy on an individual and family floater basis
With a detailed IFFCO-Tokio and Star Health Insurance Comparison, your purchasing decision becomes easy. For further help, reach out to a professional insurance expert before buying insurance online.
IFFCO Tokio Health Insurance Vs Star Health Insurance Plan
How many claims can I make during the period of my health insurance policy?
You can make any number of health claims during the subsistence of your insurance policy. But, claims made over the sum insured under the insurance policy are not valid.
What is the meaning of cashless hospitalization?
Cashless hospitalization ensures that the patient or their family does not have to pay any bills for expenses incurred during hospitalization. The health insurance company settles all medical bills under the purchased health insurance policy saving you from financial stress.
Is a medical check-up mandatory before buying a health insurance policy?
Yes, generally medical check-ups are mandatory before you can avail of a health insurance policy. However, some insurance companies make an exemption for existing/new policyholders. Above the age of 45, it is statutorily mandated to go through a health check-up.