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ICICI Lombard General Insurance Company

Role of the company


ICICI Lombard GIC Ltd. was formed as a result of a union between Indias ICICI Bank and
Lombard Canada Ltd. of Canadas Fairfax Financial Holdings Ltd., both mega players in
their respective industries.
ICICI Bank is one of Indias top private banks, outranking a number of its peers in terms of
profitability, operational efficiency and customer service among other aspects. It has
established a far-reaching network of branches which services an impressive customer-base,
in both the urban and rural sectors. It services corporate and retail clients alike through its
many innovative and personalised products, developed to suit diverse banking needs,
economically and efficiently.
Lombard Canada Ltd. is a leading financial services provider in Canada, specialising in nonlife insurance i.e. general insurance, reinsurance, claims management etc. Headquartered in
Toronto, it has a strong credit-rating and a sound reputation for servicing claims efficiently
and successfully.
ICICI Lombard General Insurance Co. Ltd. brings to the Indian market the combined
expertise of these two individual enterprises, making it a formidable force in the general
insurance industry. It offers insurance solutions to individuals as well as companies in the
form of personal and business financial protection solutions respectively. Some of their retail
insurance solutions include auto insurance, travel insurance, personal accident and health
insurance to name a few.
Services Offered
1. Health insurance
2. Motor Insurance
3. Home Insurance
Among the companys health insurance offerings are the following plans:
1. ICICI Complete Health Insurance
2. Health Care Plus
3. Personal Protect
ICICI Complete Health Insurance
This is a total health insurance solution that aims to provide coverage to not just the proposer
but also his/her family. It is made affordable through its two coverage options i.e. Cover on

an Individual Basis (which is taken for each person separately, premiums being payable for
each insured member) or on a Floater Basis (wherein the entire family is covered for a
particular amount). Coverage options are also flexible. Customers can choose to make their
cover more comprehensive by opting to to cover critical illnesses in addition to the basic
plan.

Entry Age

3 months for children if at least one adult is


also covered

Policy Period

1 yr. or 2 yrs

Renewability

Lifetime

Medical Screening

Required for entrants over 46 yrs.

Basis

Individual or Floater
Rs.1, 2, 3, 4, 5, 7 or 10 lakhs.
(chosen amount can be enhanced at renewal)

Sum Assured

No-claim Bonus: 10% increase in sum assured


for every claim-free year; max. 50%; awarded
at renewal

Premium

Discount if voluntary deductible is opted for

Coverage

iHealth Plan - Inpatient hospitalisation


expenses: Boarding, Nurse Care, ICU,
Doctor/Surgeon, Anesthesia, Blood, Oxygen,
OT
- Specified Day care treatment
- Pre/Post-hospitalisation expenses: Up to 30 /
60 days respectively
- Ambulance Costs: Up to Rs.1,500 per
hospitalisation
- Pre-existing diseases: 2 or 4 yr. waiting
period depending on chosen coverage
- Yearly Health-checks: Limited to 2 per yr. on
floater basis

Add-on Covers

Option 1
- Daily Cash Allowance: Per day of
hospitalisation; max. 10 days; deductible: 3
days
Rs.500 for coverage options Rs.1 lakh or 2
lakhs
Rs.1,000 for coverage options Rs.3, 4 or 5

lakhs
Rs.2,000 for coverage options Rs.7 or 10
lakhs
- Convalescence Benefit: Hospital stay of10
days or more; Rs.10,000 per insured member;
one-time per policy period
Option 2 - For coverage options above Rs.2
lakhs
- Critical Illness: One-time, Lump sum
payment on diagnosis for Cancer, CABG, Heart Attack, Major Organ
Transplant, Stroke, Paralysis, Heart Valve
Replacement,
Terminal Liver Failure
- Organ Donor Expenses: Up to Rs.50,000;
reimbursed

Health Care Plus


This plan is offered on an individual basis covering health care expenses related to admissible
injuries/illnesses.
Entry Age

18 yrs. to 65 yrs.; 5 yrs. for children

Policy Period

1 yr. or 2 yrs.

Renewability

Lifetime

Medical Screening

Required for entrants over 56 yrs.

Basis

Individual

Coverage

- Inpatient hospitalisation expenses: Up to


chosen sum assured (no sub-limits): Room,
Doctors,
Surgeons, Medicines, Equipment,
Diagnostic Tests etc.
- Health-checks: On renewal; limited to one
insured member
- Pre-existing diseases: After a 4 yr. waiting
period

Personal Protect

This plan can be taken in addition to a basic health plan held by a customer. It covers
financial loss due to death or Permanent Disablement arising from an accident.
Entry Age

18 yrs. to 80 yrs.

Policy Period

1, 3 or 5 yrs.

Sum Assured

Rs.3, 5, 10, 15, 20 or 25 lakhs

Coverage

- Death or Total Permanent Disablement (TPD)


resulting from an accident
- TPD: Loss of sight in both eyes; loss of / loss
of use of both hands or both feet or one hand
and one foot

Add-on Covers

- Hospitalisation expenses for injuries resulting


from the accident, up to 7 days from the
accident:
Coverage options - Rs.10,000, 25,000, 50,000
or Rs. 1 lakh, depending on chosen basic sum
assured.
- Daily Cash Allowance for hospital stay (max.
30 days per yr.) Rs.1,000 or Rs.2,000
depending on
chosen basic sum assured; 1 day deductible per
hospitalisation applies

Car Insurance
Policy Coverage

Loss or Damage to your Vehicle: The policy covers the loss or damage endured by
your vehicle due to the following reasons.

Natural Mishaps: Fire, explosion, self-ignition or lightning, earthquake, flood,


typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide,
rockslide.

Man-made: Burglary, theft, riot, strike, malicious act, accident by external means,
terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or
air, etc.

Personal Accident Cover: As part of the overall motor insurance, ICICI Lombard
provides personal accident cover in the event of your unfortunate accident while
driving. This accident cover can also be extended to passengers, whose number equals
the maximum permissible occupancy in the vehicle.

Third Party Legal Liability: The policy also provides for scenarios wherein your
vehicle might have been the cause of/ been part of an accident that resulted in the
injury, disability or death of an individual (not directly related to you) or caused
damages to a third party property.

Additional Covers: Herein, additional protection can be purchased for electrical/nonelectrical accessories including fog lights, stereo system, mats and seat cover etc.
Implementation of bi-fuel injection systems, such as for CNG, can also be covered.

Exclusions - Incidents that arent covered by the Policy

General and natural ageing that results in wear and tear.

Damage caused to vehicle when the driver wasnt carrying a drivers license, and/or
driving under the influence of alcohol or other mood/mind stimulating substances.

Mechanical or electrical breakdown.

Damage to vehicle by war, mutiny or nuclear attacks.

Depreciation in line with the market scenarios and other external conditions.

Loss of the vehicle or damage incurred that can be sufficiently proven to be deliberate
or consequential. Any contractual liabilities are also excluded from the scope of the
policy.

Road Side Assistance: Inclusive of the following on-road assistance,


o Changing of flat tyres.
o Battery jump start.
o Arranging a spare key.

o Support over phone for breakdown repairs.


o Technician for minor on the spot repairs.
o Towing of vehicle to nearest garage in the event of an accident or breakdown.
This applies for the first 50Kms from the breakdown spot. After this, the
towing cost will be borne by the insured.
o Arrangement of a rental vehicle as and when required. Note- the actual cost
will be borne by the policy holder.
o Arrangement of fuel or accommodation as and when required. Note- the actual
cost will be borne by the policy holder.
o Message Relay- Transfer of urgent messages to relatives/colleagues during an
emergency.

Garage Cash Cover: This additional cover helps you during the times when your
vehicle has been halted in a garage. A daily conveyance allowance of Rs.500 will be
provided to you through this duration, to help you commute and not miss your
cherished vehicle all that much.

Zero Depreciation Cover: Avail coverage on replaced parts with zero deduction for
depreciation. However this endorsement shall be applicable for only the first two
claims during the policy period.

ICICI Lombard Home Insurance


It is crucial to get home insurance and property insurance in today's time. You must have
known by now that how difficult it is to buy a home and the kind of investment one is
required to make during the entire process. Therefore, it becomes the responsibility to protect
your property from all possible problems.
It is quite easy to get home insurance in present times. There is no doubt that home
insurance and property insurance is obligatory for every homeowner. There are many reasons
that make it very crucial for the home owner to have this insurance plan.
ICICI house insurance India covers perils- fire, theft & burglary.

Comprehensive cover available, which covers both structure and / or contents of your
home

Coverage up to 10 years for only structure, 5 years for only contents and 5 years for
structure & content
Cover against Fire and allied perils, Burglary & Theft and Optional cover for
Terrorism and Additional expenses of rent for alternative accommodation.
What is covered

You can choose to buy insurance for only the building (structure) of your home, or
only the contents (belongings) or both.
The policy covers the losses to the structure and contents of your home due to any
natural and man-made calamities.
What is not covered

Wilful destruction of property.


Loss, damage and destruction caused by war, wear and tear etc.
Losses if your home has been unoccupied for more than 30 days, without prior notice
to the company.
Cash, bullion, painting, works of art and antiques

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