IOB Health Care Plus Policy
The IOB Health Care Plus is a complete health insurance Plan that covers You, Your spouse and two dependent children and unlike any other regular Policy, wherein a family has to take individual sum insured for each member, this unique family floater policy gives you the flexibility of taking one Policy that covers the entire family under a single sum insured.
The Policy is available to all the customers of IOB maintaining a S.B. or C.D account. However, the cover is available for treatment in hospitals in India. The Scheme takes care of the hospitalization expenses, subject to maximum Sum Insured, in respect of the following eventualities:-
• Sudden illness
• An accidental injury
• Any surgery that is required in respect of a covered disease/injury
• The health insurance cover is available at a very attractive premium, which is far below the normal premium if the Policy is taken individually by the account holder, directly from any Insurance company
• Entire family of account holder, spouse and up to two dependent children are covered under Floater policy. Even dependent parents of primary account holder can be covered at inception for additional premium
• Coverage option from Rs.50,000 to Rs.5.00 lakhs is available
• Pre existing diseases are not covered. However, the pre-existing disease is covered after four continuous claim free years which include this insurance cover (IOB Health care plus) or a similar medical insurance cover (offered by any other insurer under their earlier tie up arrangement with Indian Overseas Bank only)
• Ambulance charges up to Rs.1,000 is reimbursable per policy period
• Cost of health check up allowed @ 1.00% of sum insured after completion of 3 continuous claim free years of Policy with us
• In the case of Hospitalization of children below 12 years a lump sum amount of Rs.1,000 as out of pocket expenses to either of the parent is payable per Policy Period
Maternity Benefit and Baby Care Expenses are also reimbursed up to 5% of sum insured, subject to a waiting period of 9 months from the commencement of the Policy
• Treatment in hospitals in Nepal and Bhutan are also covered, indemnity shall be only in Indian Currency
• Personal Accident death cover is available for additional premium
• Income tax benefit is available under Section 80D for the premium paid
• Cash less access to networked hospitals is available through Third Party Administrator (TPA)
• In case of death in hospital, funeral expenses are reimbursed up to Rs.1000 over and above the sum insured, subject to original illness/accident claim admitted under the Policy
What are the exclusions in the Policy
The Policy provides for three different options as under:
• The Policy does not cover preexisting disease. However, the preexisting disease is covered in case of four continuous claims free years which include this insurance cover (IOB Health care plus) or a similar medical insurance cover (offered by any other insurer under their earlier tie up arrangement with Indian Overseas Bank)
Pre-acceptance medical tests are to be carried out for persons above the age of 50 years.
Note: The above are only the salient features of the Policy, for complete terms and conditions please refer to Policy Wordings.