Iffco Tokio Insurance Reviews, Ratings, Best Plans and USPs
IFFCO Tokio General Insurance
IFFCO Tokio is one of the most prominent insurance providers in India with various awards and accolades to its name in the insurance industry. It is a joint venture between Indian Farmers Fertiliser Co-operative Limited (IFFCO), the world’s largest fertilizer manufacturer, and Tokio Marine Group, Japan’s largest insurance group. It was founded in 2000 and has established itself firmly in the Indian market with an unshakeable market share.
It has a comprehensive product portfolio with products for various lines of insurance products i.e. health insurance, motor insurance, travel insurance, and home insurance. It also has corporate policies like liability insurance and property insurance in its quiver. Apart from traditional insurance products, it also offers niche products like including Credit Insurance, Errors & Omission Policy for the IT sector, Cyber Insurance, P & I Insurance, etc. It is also known for its rural-centric initiatives because of products like Mahila Suraksha Bima Yojana, Janta Bima Yojana, and Sankat Haran Bima Yojana for the masses.
It has a pan India presence with 78 ‘Strategic Business Units’ and a wide network of over 171 Lateral Spread Centers and 400 Bima Kendras. It is also known for its partnerships with a wide network of hospitals and garages for health insurance and motor insurance respectively. IIFCO Tokio is a trusted brand providing exceptional customer service for 20 years with comprehensive insurance products, a wide distribution network, and quick claim procedures.
About Iffco Tokio General Insurance
IFFCO Tokio General Insurance Company offers a wide range of benefits to its customers through its practiced values of fairness, transparency, and quick response. IFFCO Tokio has been admired for the outstanding quality of its insurance products and customer service through various awards over the years.
Here are some of the benefits of purchasing insurance products from IFFCO Tokio General Insurance Company:
Seamless Payments
The premium payment process enabled by IFFCO Tokio is lightning-fast, convenient, and simple. They offer the option for online payment wherein the customer can pay their premium within minutes in a few clicks. Even if the customer decides to pay the premium offline, they provide a wide range of convenient options like drop boxes, branch visits, IFFCO Tokio agents and brokers, etc.
Simple Renewal
With IFFCO Tokio General Insurance’s hassle-free online renewal process, customers can get their insurance plans renewed quickly and seamlessly. They just have to log into the company website and select renew now option following the link to secure the payment process.
Comprehensive Product Portfolio
IFFCO Tokio General Insurance offers a comprehensive product portfolio to its customers. It ensures that all their insurance needs can be fulfilled in one place. They also have different insurance plans for the same type of insurance to cater to the varying needs of multiple customer segments.
Wide Presence
IFFCO Tokio has a wide presence throughout the country with 78 ‘Strategic Business Units’ and a wide network of over 171 Lateral Spread Centers, 400 Bima Kendras, and over 20,000 agents. This brings them closer to their customers and makes them more accessible.
Vast Network
The company also offers a vast network of hospitals and garages. It has a partnership with over 4,300 garages and 6,400 hospitals. This allows IFFCO Tokio to offer cashless claims at various locations throughout India for health insurance and motor insurance.
Excellent Claim Experience
IFFCO Tokio is well-known for providing superb claim experience with quick, easy, and transparent claim procedures. It has a claim settlement ratio of 92.65% with 8.61 Lakh claims settled in FY2019. It also keeps coming up with solutions like the Quick Claim Settlement (QCS) App for motor insurance to make the experience more seamless and rapid.
Comprehensive Coverage
Whether we talk about its health insurance plans or home insurance plans, we’ll find one thing common. IFFCO Tokio General Insurance provides comprehensive coverage in each of its insurance products. This provides customers with the added benefit of getting the best value for money.
With an enormous 8.61 Lakh claim settlements in FY 2019, IFFCO Tokio General Insurance Company provides quick and convenient claim settlement with a claim settlement ratio of 92.65%. With a wide range of insurance products in its quiver, it meets all the insurance needs of customers in one place. IFFCO Tokio also provides comprehensive coverage for all its insurance plans and maintains its promise of wide coverage at affordable premium rates. The company has more than 20,000 agents and branches having a wide presence throughout the country which brings them closer to their customers and provides greater accessibility.
The quality and standard of IFFCO Tokio’s insurance plans and customer service can be assessed by the awards and recognition it has received over the years. In 2020, IFFCO Tokio won a total of six awards at the Global Leaders Awards for Various Individual and organization categories in the insurance industry. Lightning-fast and seamless claim procedures, convenient online payments and renewals, and 24x7 claim assistance are just some of the components of its excellent customer service.
Customer Reviews
With a wide portfolio of products, IFFCO Tokio General Insurance Company excellently caters to the varying insurance needs and requirements of consumers across India. Here are some of the customer testimonials that manifest the quality of IFFCO Tokio insurance plans:
Broad Coverage Neetu Singh
I discovered the home protector policy by IFFCO Tokio online and I was surprised to see how wide its coverage was. It is hands down the best value for money I’ve seen in a home insurance plan.
Claim settled in Minutes K. Aaditya Sai
IFFCO Tokio’s quick claim settlement app is the best thing ever! I wanted to claim the insurance for my broken back glass so I thought I’ll try the QCS app and place the claim through it. Little did I know that they’ll settle it in 28 minutes.
Simple renewal process Altaf Anwar
I kept pushing away my plan to renew my insurance thinking that I’d have to make myself available for the whole day to do that. One day I finally visited their website and got it done in no time because of their simple and seamless online renewal process.
The types of insurance products offered by IFFCO Tokio General Insurance are health insurance, motor insurance, travel insurance, home insurance, and various other insurance plans for trade and businesses.
IFFCO Tokio Health Insurance Plans
Rising healthcare and hospitalization costs make health insurance a necessity these days. IFFCO Tokio offers affordable yet feature-packed health insurance plans that help you ensure financial security for your family during hospitalization and critical illness. It offers various individual and family health insurance plans and provides you a comprehensive scope of coverage. With a network of more than 6400 hospitals, IFFCO Tokio helps you avoid towering health costs at every step.
|
Insurance Plan |
Entry Age |
Sum Assured |
Daily Allowance |
Lifelong Renewal |
Medical Screening |
|
IFFCO Tokio Family Health Protector Policy |
18 years to 65 years |
Minimum Sum Assured: Rs. 1.5 Lakhs Maximum Sum Assured: Rs. 30 Lakhs |
Up to Rs. 1,000 per day |
Available |
No medical test up to 60 years of age. |
|
IFFCO Tokio Individual Health Protector Policy |
18 years to 65 years |
Minimum Sum Assured: Rs. 50,000 Maximum Sum Assured: Rs. 20 Lakhs |
Up to 0.20% of the sum insured per day |
Available |
No medical test up to 60 years of age. |
|
IFFCO Tokio Swasthya Kavach Policy |
18 years to 60 years |
Minimum Sum Assured: Rs. 1 Lakh Maximum Sum Assured: Rs. 5 Lakhs |
Rs. 150 per day / Rs 250 per day (depending on plan variant) |
Available |
No medical test up to 60 years of age. |
|
IFFCO Tokio Individual Medishield Policy |
3 months to 5 years |
Minimum Sum Assured: Rs. 50,000 Maximum Sum Assured: Rs. 5 Lakhs |
Up to Rs. 250 per day |
Available |
No medical test up to 60 years of age. |
|
IFFCO Tokio Critical Illness Insurance Policy |
5 years and 50 years |
Maximum Sum Assured: Rs. 1 Crore |
Up to Rs. 1,000 per day for cancer, bypass surgery, etc. |
Available |
NA |
|
IFFCO Tokio Health Protector Plus Policy |
18 to 65 years |
Minimum Sum Assured: Rs. 2 Lakhs Maximum Sum Assured: Rs. 25 Lakhs |
0.10% of the Sum Insured |
Available if renewed without any break |
No medical test up to 45 years of age. |
IFFCO Tokio Motor Insurance Plans
Traffic indiscipline, lack of legal enforcement by road authorities, and various other issues with traffic in India aren’t unheard of. Road accidents and traffic rule violations are very common in India. This makes a reliable vehicle insurance plan essential. It helps you cover damages, reduces liability, and compensates in case of an accident.
IFFCO Tokio offers both third-party liability and comprehensive motor insurance plans for two-wheelers, cars, and commercial vehicles. It has a wide network of 4300+ garages which allow cashless claims for their customers.
|
Insurance Plan |
Third-Party Property Coverage |
Third-Party Death/Injury Coverage |
Personal Accident Coverage |
No Claim Bonus Benefits |
|
IFFCO Tokio Third-party Car Insurance Policy |
Up to Rs. 7.5 Lakhs |
Unlimited Amount |
No Personal Accident Cover |
Up to 50% Discount |
|
IFFCO Tokio Comprehensive Car Insurance Policy |
Up to Rs. 7.5 Lakhs |
Unlimited Amount |
Up to Rs. 2 Lakhs |
Up to 50% Discount |
|
IFFCO Tokio Third-party Two-wheeler Insurance Policy |
Up to Rs. 1 Lakh |
Unlimited Amount |
No Personal Accident Cover |
No NCB Benefits |
|
IFFCO Tokio Comprehensive Two-wheeler Insurance Policy |
Up to Rs. 1 Lakh |
Unlimited Amount |
Up to Rs. 1 Lakh |
No NCB Benefits |
|
IFFCO Tokio Third-party Commercial Vehicle Insurance Policy |
Unlimited Amount |
Unlimited Amount |
No Personal Accident Cover |
Up to 50% Discount |
|
IFFCO Tokio Comprehensive Commercial Vehicle Insurance Policy |
Unlimited Amount |
Unlimited Amount |
Unlimited Amount |
Up to 50% Discount |
IFFCO Tokio Travel Insurance
Many of us realize the importance of a reliable and comprehensive travel insurance policy when we face contingencies while traveling. There are a lot of situations that might cause financial contingencies while traveling. Situations like medical emergencies, accidents, loss of baggage or passport, etc., are already distressing. They can be even more stressful with their costs eating into your budget.
IFFCO Tokio is known for its convenient and reliable travel insurance plans that ensure that you’re traveling experience is secure and pleasant. IFFCO Tokio Travel Insurance Plans help you travel in confidence by making sure that you’re protected in case of unfortunate events.
|
Insurance Plan |
Sum Assured |
Hospitalization Expenses |
Personal Accident Coverage |
Premium Details |
|
IFFCO Tokio Pravasi Bhartiya Bima Yojana |
Maximum Sum Assured: Rs. 10 Lakhs |
Up to Rs. 1,00,000 is covered |
Up to Rs. 10,00,000 is covered |
Rs.275 plus tax for a 2-year plan Rs.375 plus tax for a 3-year plan |
|
IFFCO Tokio Overseas Travel Insurance Policy |
Minimum Sum Assured: $50,000 Maximum Sum Assured: $500,000 |
$50,000 to $500,000 |
$15,000 to $25,000 |
Depending on factors like age, travel destination, trip duration, plan chosen, etc. |
IFFCO Tokio Home Insurance Plans
Damages due to uncertain factors such as natural disasters like earthquakes, storms, cyclones, floods, etc., can result in towering repair and reconstruction losses. IFFCO Tokio brings you beneficial home insurance plans with wide coverage that protect your home and its contents from unfortunate events like fire, natural calamities, man-made disasters, theft, etc.
|
Insurance Plan |
Coverage |
General Exclusions |
Cancellations |
|
IFFCO Tokio Home Protector Policy |
The policy offers coverage under 12 sections of which policyholder must opt at least 3. These 12 coverage sections are Fire & Allied Perils, Burglary & Housebreaking, All Risk, Fixed Glass & Sanitary Fittings, Electronic Equipment, Home Entertainment, Breakdown of Domestic Appliances, Personal Accident, Loan Payment Protection, Baggage, Liability Insurance, and Increased Living Expenses. |
Damages because of war, invasion, the act of a foreign enemy, hostilities, civil war, rebellion, revolution, terrorism, etc. Damages due to confiscation, commandeering, requisition, or destruction by orders of government or lawfully constituted authority. Damages arising as a result of ionizing radiation or contamination by radioactivity. Depreciation and damages caused by wear and tear. |
The policy can be canceled on grounds of fraud, moral hazard or misrepresentation, or non-cooperation by sending 15 days' notice. The insured may also cancel this policy by sending 15 days’ written notice. |
|
IFFCO Tokio Home Suvidha Policy |
Coverage against natural calamities as well as manmade calamities like robbery, dacoity, riots, etc. Television, personal computer, and video equipment are covered under the policy. Coverage for people against accident-related injury. Covers damage to the building of your home including components like garages, terraces, foundation, swimming pool, etc. |
War risk. Confiscation. Nuclear risk. Ionizing radiation or contamination by radioactivity Wear and tear Consequential loss. Existing damage. Matching of items. Terrorism damage. |
The policy can be canceled on grounds of fraud, moral hazard or misrepresentation, or non-cooperation by sending 15 days' notice. The insured may also cancel this policy by sending 15 days’ written notice. |
Other Insurance Plans
IFFCO Tokio General Insurance Company offers many other policies different from traditional insurance products. Many of these insurance plans are designed for trade and businesses. These plans provide financial security to firms and traders against any loss or damage because of unforeseen events, including man-made and natural disasters. These policies include:
- Trade Protector Policy
- Trade Suvidha Policy
- Business Insurance
- Specialty Insurance
- Workmen's Compensation
- Micro & Rural Insurance
- Bank Locker Insurance
Best Policies By IFFCO Tokio Insurance
We have listed some of the best insurance policies by IFFCO Tokio General Insurance Company. Take a look at their descriptions and USPs to find out what makes them some of the best insurance plans available in India:
|
Insurance Plan |
Description |
USPs |
Premium Details |
Coverage Details |
|
IFFCO Tokio Family Health Protector Policy |
IFFCO Tokio Family Health Protector Policy is a family floater indemnity health insurance policy. It provides coverage for your whole family under the same plan. The policy would pay the medical costs incurred when any one or more family member is hospitalized. |
Relatives living together are also covered apart from self, spouse, dependent parents, and dependent children NCB bonus of 5% increase in the sum insured for every claim-free year up to a maximum increase of 50% Inpatient hospitalization i.e. coverage is provided if you are hospitalized for more than 12 hours but less than 24 hours Daily allowance of up to INR 1000 |
Affordable premiums. Premiums vary based on the age of the insured person and the sum insured. |
Room charges, Ambulance charges, ICU charges, Daily allowance coverage, Over 160 procedures covered, Pre and Post Hospitalization charges, Nursing charges, etc., |
|
IFFCO Tokio Critical Illness Insurance Policy |
IFFCO Tokio Critical Illness Insurance Policy is a specific critical illness insurance plan which covers a list of critical illnesses. If the insured member suffers from a critical illness covered by the plan, the sum insured is paid in a lump sum. |
Provides coverage against 25 Critical Illnesses and Surgeries Sum insured of up to ₹1 crore Policy Issuance without Medical Test up to age 50 Daily allowance up to Rs. 1,000 per day for cancer, bypass surgery, etc. Can be added to Individual or Family Health Insurance Plans |
Affordable premium rates. |
Critical illnesses covered: Cancer, Kidney failure, Multiple Sclerosis, Benign Brain Tumour, Motor Neuron Disease, End-Stage Lung Failure, End-Stage Liver Failure, Primary (Idiopathic) Pulmonary Other medical events and surgical procedures covered as well. |
|
IFFCO Tokio Comprehensive Car Insurance Policy |
The IFFCO Tokio Comprehensive Car Insurance Policy takes care of damages that arise out of natural or man-made disasters. It covers the damages caused to the insured car, its occupants, and the third parties if applicable. |
NCB Bonus up to 50% Discount 24/7 claim assistance available App-based Claim Settlement within 4 Hours Cashless repairs available at 4300+ Cashless Garages Savings Upto 70% on Premium |
Liability premium is a fixed amount. Premiums vary based on the age, engine capacity, model, area of operation, etc. |
Collisons, theft, fire, natural disasters, personal accident, third-party liabilities. |
|
IFFCO Tokio Overseas Travel Insurance Policy |
IFFCO Tokio Overseas Travel Insurance Policy covers international travels and offers benefits in case of any financial contingency faced when traveling. The plan comes in five variants of Bronze, Silver, Gold 100, Gold 250, and Gold 500. The Sum Insured ranges from $50, 000 to $500,000. |
Worldwide coverage Five flexible plans with Sum Insured ranging from $50, 000 to $500,000 Comprehensive coverage with 11 covers including loss of passport or baggage, hijack distress allowance, personal liability, and more. Covers baggage delay apart from baggage loss |
Affordable premium rates. |
Medical treatments, dental treatments, transportation of mortal remains or cost of burial, loss of baggage, hijack distress allowance, personal liability, financial emergency assistance, personal accident, etc. |
Other Insurance Companies
IFFCO Tokio FAQs
1. Why is the coverage provided by IFFCO Tokio’s Critical Illness Insurance Policy considered one of the best in India?
The list of critical illnesses covered differs from one insurance provider to another. IFFCO Tokio’s critical illness insurance policy covers 25 potentially fatal illnesses, surgeries & medical events. The daily coverage is also up to Rs. 1000 per day which is fairly sufficient for a critical illness insurance policy. This is why it is one of the best critical illness insurance plans in India.
2. What is the period for which an IFFCO Tokio Motor insurance policy is issued?
All IIFL motor policies are annual policies issued for a period of a year. But, with the approval of the competent authority, an extension to a further period of less than 12 months can be allowed. Such extensions require the customers to pay additional premiums.
3. How is the premium of IFFCO Tokio Travel Insurance Plans calculated?
Factors like the number of individuals covered by the policy, the age of the travelers, the destination, the duration of the trip, and the plan you choose among the five plans offered by IFFCO Tokio, are considered to calculate the premium for IFFCO Tokio Travel Insurance Plans.
