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ICICI Lombard Complete Health Insurance (Health Shield) logo

ICICI Lombard Complete Health Insurance (Health Shield)

Introduction to ICICI Lombard Complete Health Insurance (Health Shield)

ICICI Lombard Complete Health Insurance (Health Shield) is a health insurance policy offered by ICICI Lombard General Insurance Company Limited. Health insurance is a type of insurance policy that covers hospitalization expenses incurred for any illness, accident, or injury. It acts as a protective shield for savings and healthcare, so you and your family can live a happy, fulfilling life. ICICI Lombard’s Complete Health Insurance (Health Shield) Plan offers numerous features, benefits, and add-ons that cater to your as well as your family’s medical needs. It promises to unburden your financial stress in a medical emergency and protect your and your loved ones’ health.

Verdict: ICICI Lombard Complete Health Insurance (Health Shield)

This plan is indeed a complete health insurance package that can cater to your healthcare needs. Not only is it reasonably priced compared to other products but it also provides comprehensive coverage. It covers a variety of expenses besides hospitalization and related expenses, including the cost of consumable items, and OPD expenses, i.e., day-to-day expenses for medicines, tests, consultations, etc. Additionally, the plan gives you the choice of automatically increasing your sum covered in accordance with the previous year’s inflation. It, however, does not allow you to pay your premiums on a monthly basis. In addition, our research shows that the insurer has received fewer claim settlement complaints but a higher number of policy purchase complaints.

Pros & Cons: ICICI Lombard Complete Health Insurance (Health Shield)

  • arrow Fairly priced in comparison to other products in the market
  • arrow No restrictions on the type of hospital room you choose
  • arrow Covers outpatient department costs, such as medications, tests, consultations, etc.
  • arrow Covers non-medical expenses or the cost of consumables such as gloves, oxygen masks, nebulization kits, etc.
  • arrow Option to automatically increase the cover amount based on previous year's inflation.
  • arrow Received fewer complaints on claim settlement compared to other insurers
  • arrow Monthly premium payment mode not available
  • arrow Received higher number of complaints during policy purchase compared to other insurers
  • arrow Our study observed their responses on Twitter to be relatively slower than other insurers

Specific Exclusions: ICICI Lombard Complete Health Insurance (Health Shield)

01 Prosthesis or external equipments of any kind used for diagnosis or treatment, unless necessitated due to accident
02 Dental treatment except for treatment required due to an accident
03 Circumcision unless necessary for treating a disease or injury
04 Treatment related to external birth defects or anomalies
+ Show 4 more

Special Conditions: ICICI Lombard Complete Health Insurance (Health Shield)

01 Under Domiciliary Treatment Cover, additional cover over sum insured is available
02 Under Organ Donor Cover, additional cover over sum insured is available

About ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited logo

ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited. This private general insurance company offers a well-diversified range of insurance products such as motor insurance, health insurance, personal accident insurance, crop insurance, fire insurance, marine insurance, etc. It was founded in 2001 and is headquartered in Mumbai, Maharashtra. Mr. Bhargav Dasgupta is the company's CEO and MD.

Founded in
2001
JV Partners
ICICI Bank Ltd and Fairfax Financial Holdings Ltd
Turnover (GWP)
1955.59 Crores
Number of Policies
74,52,718
Number of Claims
6,69,593

Detailed Product Specs: ICICI Lombard Complete Health Insurance (Health Shield)

Claims Experience advisor
Customer Service advisor
Product Benefits (10L Sum Insured) advisor
Limits and Exclusions advisor
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
99.74%
% of Complaints received on overall claims
% customers unhappy with claims experience
0.13%
Claims Incurred Ratio
78.73%
Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?
61.21%
No. of Cashless Hospitals
7,500+

Notes
  1. The health insurance data was last updated in June 2023. All data has been sourced from product brochures, policy wordings, prospectus, public disclosures (Q1, FY 2023-2024), IRDAI annual report (2021-22), insurer websites, and the IRDAI website. 
  2. For now, we have considered the most comprehensive plans from leading insurance companies. We will keep updating the product pages with new plans in the coming days.
  3. We have rated only those plans that can be serviced by individual advisors. This is because of our strong belief that health insurance customers need professional assistance from individual advisors before and after purchase. We do not recommend and hence do not rate direct-to-customer health insurance plans or plans where there aren't enough advisors available to service. 
  4. Affordability assessment of plans: 
    • The affordability of comprehensive plans is assessed using premiums for a family of two adults (30 years old) and one child (1 year old) residing in Zone 1 opting for a cover of ₹10 Lakhs. And, the premiums are as of 31st June 2023.
    • The affordability of Care Freedom Plan is assessed using premiums for a 30-year-old male residing in Zone 1 opting for a cover of ₹5 Lakhs. And, the premiums are as of 31st June 2023.
  5. The product benefits section is based on a sum insured of ₹10 Lakhs and only highlights the top benefits and features of health insurance plans. 
  6. Only those hidden and special conditions that apply to the benefits and features we have considered are included in the product pages. 
  7. The product pages only include the most significant specific exclusions under each plan.
  8. The product pages do not include any generic terms, conditions, or exclusions (those that are the same and apply to all health insurance plans).
  9. If the policy wording, brochure, or prospectus state that a benefit/feature is available with a specific plan but it is not available online when generating the premium quote, we have not considered that benefit/feature to be available with the plan.
  10. The response time on Twitter (Beta) was calculated using a sample set of tweets from April, May, and June 2022 (analyzed in August, September, and October 2022). 
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