Star Health Insurance vs ICICI Lombard Health Insurance

There has been an alarming rise in the number of people living a sedentary lifestyle leading to higher hospitalization rates and the advent of various critical and life-threatening diseases. This has underlined the importance of having health insurance. Are you planning to buy one? This Star Health Insurance and ICICI Lombard comparison can help you make an informed choice. 

ICICI Lombard Health Insurance VERSUS Star Health Insurance – Overview 

Parameter Star Health Insurance ICICI Lombard Health Insurance
Number of health insurance plans 10+ 6
E-services Policy purchase, renewal, claim settlement, online doctor consultation, and expert support Policy purchase, renewal, claim settlement, and online consultation
Branches 25+  25+
Founding year  2006 2001
Claim settlement time  90% claims settled in two hours  3.5 claims settled every minute
Cashless payments & reimbursements Available Available
Hospital Networks 9,900+ 6,500+

Source: Star Health Insurance’s official website, ICICI Lombard’s official website, ICICI Lombard’s Wikipedia page, and Insurance Regulatory and Development Authority of India (IRDAI) Annual Report 2018-19

 

Health Insurance Comparison: ICICI Lombard Health Insurance VERSUS Star Health Insurance

ICICI Lombard has been in service for over 15 years and offers a wide range of insurance plans to its customers. Their pan India network of hospitals and customer base has made them stand out as the potential leaders of the market.

Star Health Insurance has earned a name based on excellent reviews and testimonials. Although the organization is not as old as some of the other names in the industry, they have managed to impress insurance buyers with their quick and hassle-free claims procedures.

Individual Health Insurance Plans: 

ICICI Lombard offers a ‘Complete Health Insurance’ plan that comes with the following features: 

  • Individuals can opt for a floater option and on-board a family member 
  • Includes coverage of alternative treatments, hospital bills, treatment and surgery costs, etc.
  • Policy tenure can be either one or two years depending on your choice 
  • Customers get a 15-day free look period wherein they can assess and cancel the purchase in case they are unhappy with the policy

Star Health Insurance has a ‘Medi Classic Insurance’ plan. Its key features are: 

  • Lifetime renewal on policy available 
  • 25% sum can be used for non-allopathic treatments 
  • Covers partial hospitalization costs, i.e. up to 1% of the sum insured 
  • The policy can be secured for either one or two years

Critical Illness Insurance Plans: 

ICICI Lombard has a Critical Illness Insurance Plan that has the following highlights: 

  • Offers coverage against nine leading critical illnesses 
  • People below 45 years do not require a health check-up before purchasing the policy
  • A 90-day exclusion rule is in place; this means that claims cannot be made in the first 90 days of the policy 
  • The policy can be easily purchased and paid for digitally

Star Health Insurance also has a Criti Care Plus Insurance plan with the following features: 

  • Covers nine pre-specified critical illnesses
  • Anyone between 18 and 65 years is eligible for this plan 
  • The policy has a 15 day lockout period where one can opt-out from it as well 
  • Covers hospitalization, ambulance, day-care, and pre and post hospitalization charges

 

Corona Virus Care Insurance Plans: 

Both ICICI Lombard and Star Health Insurance have a dedicated plan to cover COVID-19 related costs. The policy is called the ‘Corona Kavach.’ The point of difference with both service providers will be their customer service. 

Common features of this plan include: 

  • Coverage for hospitalization and home care up to 14 days 
  • No pre-medical check-ups required
  • The policy extends a floater option to the customer
  • A 15 day waiting period is applicable 

This Star Health Insurance and ICICI Lombard comparison should have helped you get a clearer picture of the options available. To compare insurance plans, head over to IIFL Insurance.

FAQs: Star Health Insurance Vs Reliance Health Insurance Plan

Do I need a critical illness insurance plan if I already have a regular plan?

Regular health insurance will cover all the generic medical expenses that one might incur. However, it does not include treatments of unseen critical illnesses. Usually, these kinds of treatments are expensive and also burdensome. A critical illness plan comes handy at such times.

Are annual health check-ups covered in these policies?

In most cases, they are included but there's no single answer to this. Some plans exclude it, while some offer it as a complimentary service for every claim-free year. A close analysis of the policy features must be done before your purchase to understand if annual health check-ups are included or not.

What’s a grace period in an insurance plan?

A grace period refers to the time duration that one can take to renew the plan after it’s expiry. Different providers have different grace periods attached to their policies. It normally ranges from 15 days to 30 days depending on the periodicity of the premium payment.

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