Compare ICICI Lombard Travel Insurance Plans

ICICI-Lombard-General-Travel-Insurance-Company

ICICI Lombard General Insurance - Travel Insurance Company

About ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance is the leading private segment general insurance company in the country. It is a combined venture between ICICI Bank Ltd, India’s 2nd major bank and Fairfax Financial Holdings Ltd, a Canadian financial services company based in Toronto. The company is based numerous financial services including insurance, reinsurance, financial claims and investment management, etc.

The joint venture is divided in the ratio of 64:35 with ICICI Bank Ltd holding the majority share.

The company offers insurance products such as home insurance, weather insurance, health insurance, car insurance, international travel insurance, domestic travel insurance, student overseas travel insurance, two wheeler insurance, etc.

ICICI Lombard Travel insurance is an essential necessity in this day and age. It cannot be seen as a contingent anymore. It is never a wise move to travel without having any financial aid and safeguarding means. Particularly, for individuals who move around globally need to protect themselves from the numerous travel adversities. For masses who are a novice in traveling abroad, it should be a travel necessity to insure oneself with a comprehensive icici travel insurance package.

ICICI Lombard General Insurance’s travel insurance plans are designed effectively and compendiously to quench every traveler’s needs.

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Key Advantages & Features of ICICI Lombard General Insurance’s Travel Insurance Plans

Key Highlights

  • No medical tests are required to subscribe to one of the travel insurance plans. The plans are offered to individuals up to 85 years of age without any pre-requisite of any medical test.
  • It makes the trips of the insured individuals absolutely blithesome and away from any worries and discomforts. The sum assured under the travel insurance can be made up to US$500,000.
  • The icici lombard travel insurance plans facilitate the convenience of cashless hospitalization worldwide.
  • There are affordable insurance plans for international travel affairs. The USD 25000 travel insurance plan protects the insured against trip delays, trip extensions and accidents.
  • Compensation for complete and permanent loss of baggage which was checked in is offered. It includes handbags too.
  • ICICI Lombard offers travel assurance packages that are pre-approved and customized to meet the alignment of requirements of Schengen Visa.
  • Frequent travelers and patron insured clients of ICICI Lombard can receive quite a few benefits like Gold Multi-Trip plan subscribers can secure 30, 45 or 60 days per trip yearly.

ICICI Lombard General Insurance Co. Ltd – Past Performance

  • The total assets reported in the last financial year of the majority stakeholder company, i.e. ICICI Bank are $100 million.
  • The gross written premium (GWP) reported in the FY 2016 is INR 83.07 billion.
  • The number of policies issued by ICICI Lombard General Insurance, according to the last financial year, is 15.8 million. The number of policies sold grew by more than 10%, as compared to FY 2015.
  • Number of employees as per March 2016 was 7,954.
  • Claims settled in the last financial year were 1.62 million.
  • The number of branches of the company as per last financial year was 257.
  • The profit before tax of the insurance giant in FY 2016 was INR 7077 million.
  • The company was honored with the ‘Best Travel Insurance Company Award, in the year 2015 by CNBC Awaaz Travel Awards 2015.
  • It also won the Golden Peacock Award for Business Excellence, Corporate Social Responsibility (CSR) and Innovation Management in 2015.
  • In FY 2016, the company became the first general insurance service provider to introduce OPD card for corporate enterprises, offered under Outpatient Department health insurance.

Types of Products that Entail the Travel Insurance Arm of ICICI Lombard

The categories of various plans which are offered by ICICI Lombard General Insurance are written below: -

  • Single Round Trip in International Travel Insurance
  • Gold Multi Trip Travel Insurance
  • Senior Citizen Travel Insurance
  • Asia Plan

Product Plans Details

Single Round Trip

In plans under Single Round Trip for any overseas destination, medical and non-medical expenses are covered for a single onward and return journey. There are two subdivisions in this option. It is Platinum Plan and Gold Plan.

Features and Benefits

  • The gold plan entails benefits like medical expenses cover up to USD 50000, 100000, 250000, and 500000. However, there is a constraint of the limit of liability of the company till USD 100000 per sickness or disease.
  • Repatriation of remains up to USD 7500. It is included in medical sum assured.
  • In the event of hospitalization, daily allowance up to USD 50 is paid, for five days maximum.
  • Expenses for dental problems and treatment and loss of passport are covered up to USD 300.
  • Total loss of checked in baggage, trip shelve and intrusion, missed flight connection and trip delays of more than 6 hours are covered up to USD 500.
  • Accidental death and emergency accommodation extension are covered up to USD 5000. Bounced booking of airline/hotel, loss of baggage and personal effects are covered up to USD 2000 respectively.
  • Political disturbances and disaster evacuation and compassionate visits are covered till USD 7500. The return journey of a minor is covered too, provided the cost does not exceed USD 7500.
  • Fire cover for building, home content and burglary cover for home content is covered up to USD 2000000, 1000000 and 100000.
  • Personal liability coverage is USD 100000.
  • Expenses covered in case of personal accident are USD 15000.

Exclusions

  • Venereal diseases, STDs, AIDS/HIV.
  • Sports activities
  • Pre-existing medical condition.
  • Drug or alcohol addiction
  • Mental illness, anxiety or depression.
  • Cosmetic surgeries.
  • Naturopathy, Ayurvedic or Homoeopathic treatments.
  • Recreational recuperation activities like spa or health resorts.

Eligibility

  • Applicable for all the countries except Schengen.
  • Individuals above the age of 51 are eligible for the medical benefits.

Gold Multi Trip

Suitable for frequent travelers, the gold multi trip offers lucrative benefits to people who travel overseas often.

Features and Benefits

  • Emergency cash advance is paid up to USD 1000.
  • Hijack distress allowance is provided up to USD 125 per day, for seven days maximum.
  • Expenses occurring due to the delay of checked-in baggage up to USD 100.
  • In a year, the insured can secure as many as 30,45 or 60 days.
  • Cashless hospitalization facility offered anywhere in the world except Schengen.
  • Apart from the above, accommodation extension, trip cancellation and interruption expenses, compassionate visits by close ones
  • of the insured, political risk and catastrophe evacuation expenditure, etc. are covered under this plan.

    Exclusions

    Excluded elements are same as Single Trip plan.

    Eligibility

    Individuals in the age bar of 3 to 70 years.

    Senior Citizen Travel Insurance

    This plan is designed to safeguard senior citizens from travel hazards while traveling overseas.

    Features and Benefits

    • Cashless medical services worldwide.
    • Medical concierge services, automotive assistance services and lifestyle services for dependents in India.
    • Quality health care services for insured through UHI.
    • Original policy with a term span of 180 days can be extended for additional 180 days.

    Eligibility

    Age bar fixed for this option is 71 years to 85 years.

    Asia Plan

    This plan is designed for travelers moving only within the continent in neighbouring countries.

    Features and Benefits

    The features and benefits are the same as the ones covered within the first three options.

    Exclusions

    The policy excludes numerous factors leading to the contingent event of claiming benefit like pre-existing medical condition, mental illness, depression, etc.


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