Frequently Asked Questions - IFFCO Tokio

Yes. You will need insurance. Even if you're young, healthy and haven't had to see a doctor in years, you will need coverage against unexpected events like accidents or an emergency. While your health insurance coverage may/may not (depending on the policy taken) pay for things that aren't too costly like routine doctor's visits, the main reason to have coverage is to have protection against the large treatment expenses of serious illness or injury. No one knows when a medical emergency might strike. It is best to buy health insurance, to save money when an emergency strikes.

No. Life Insurance protects your family (or dependents) from financial loss that may arise in the event of your untimely death/or if something happens to you. The payout is made only post the death of the person insured or at the maturity of the policy. Health Insurance protects you against ill health/diseases by covering the expenses you might incur (for treatment, diagnosis etc.) in case you are affected by disease or injury. There is no payout made at maturity. Health insurance also needs to be renewed annually.

It is strongly advised to have health insurance on your own as well because of reasons of continuity. Firstly, if you change your job, you might not necessarily get health insurance from your new employer. In any case you will be exposed to health costs in the transition period between jobs. Secondly, the track record that you have built in health insurance at your old employer will not transfer to the new company policy. Covering pre existing diseases might be a problem. In most policies pre-existing diseases are covered only from the 5th year onwards. Therefore to avoid the above problems, it is advisable to take a private policy in addition to your company provided group health insurance policy.

No. Maternity/Pregnancy related expenses are not covered in a Health Insurance plan. However, employer provided group insurance plans often cover maternity related expenses.

Yes, there is a tax benefit available under Section 80D of the income tax act 1961. Every tax payer can avail an annual deduction of Rs. 15,000 from taxable income for payment of Health Insurance premium for self and dependants. For senior citizens, this deduction is Rs. 20,000. Please note that you will have to show the proof for payment of premium. (Section 80D benefit is different from the Rs 1, 00,000 exemptions under Section 80 C)

A medical checkup is necessary for a new health insurance policy for customers above the age of 45 years. Medical checkups are usually not needed for renewal of policies.

Health insurance policies are general insurance policies usually issued for a period of 1 year only. However, some companies also issue a two year policy. At the end of your insurance period you must renew your policy.

Coverage amount is the maximum amount payable in the event of a claim. It is also known as “sum insured” and “sum assured”. The premium of the policy is dependent on the coverage amount chosen by you.

Yes, you can cover the entire family under one policy. Your health insurance policy is in force across India. You must check whether there is any network hospital near to your as well as your family's place of residence. You must check if your insurer has a network hospital close to you or where the rest of your family resides. Network Hospitals are the hospitals that have tied up with the TPA(Third Party Administrator) for cashless settlement for expenses incurred there.

If there are no network hospitals at the place of your residence, you could opt for reimbursement mode of settlement.

Naturopathy and Homeopathy treatments are not covered under a standard health policy. The coverage is available only for allopathic treatments in recognized hospitals and nursing homes.

Health Insurance covers all diagnostic test like X- ray, MRI, blood tests etc as long they are associated with the patients stay in the hospital for at least one night. Any diagnostic tests which have been prescribed in the OPD are generally not covered.

A Third Party Administrator (commonly referred to as TPA) is an IRDA (Insurance Regulatory and Development Authority) approved specialized health care service provider. A TPA provides the insurance company with a variety of services like networking with hospitals, arranging for cashless hospitalization as well as claims processing & timely settlement.

In the event of hospitalization, the patient or their family will have a bill to pay the hospital. Under Cashless Hospitalization the patient does not settle the hospitalization expenses at the time of discharge from hospital. The settlement is done directly by the Third-Party Administrator (TPA) on behalf of the health insurer. This is for your convenience.

However, prior approval is required from the TPA before the patient is admitted into the hospital. In case of emergency hospitalization, approval can be obtained post-admission. Please note that this facility is available only at the network hospitals of the TPA.

Yes, you can have more than one Health Insurance policy. In case of a claim, each company will pay rateable proportion of the loss. For example, a customer has Health Insurance from Insurer A for a coverage of Rs. 1 lakh and Health Insurance from Insurer B for a coverage of Rs. 1 lakh. In case of a claim of Rs. 1.5 lakh each policy will pay in the ratio of 50:50 up to the sum assured.

When you get a new health insurance policy, there will be a 30 day waiting period starting from the policy start date, during which period any hospitalization charges will not be payable. However, this is not applicable to any emergency hospitalization occurring due to an accident. This 30 day waiting period is not applicable when the policy is renewed.

After a claim is filed and settled, the policy coverage is reduced by the amount that has been paid out on settlement. For Example: In January you start a policy with a coverage of Rs 5 Lakh for the year. In April, you make a claim of Rs 2 lakh. The coverage available to you for the May to December will be the balance of Rs.3 lakh.

Any number of claims is allowed during the policy period. However the sum insured is the maximum limit under the policy.

No documents are required for purchasing health insurance. As of now, you do not even need any PAN Card or ID proof. Depending on the norms of the insurer and the TPA. You might need to furnish documents like ID proof at the time of submitting a claim.


Yes, if you are a student studying in India or working with a valid work Visa.

But if you are a tourist coming to India for three weeks, it will not be worthwhile to buy this as thirty days cooling-off period itself offsets the benefits which you are looking for.

Medical tourism cases are definitely not covered in policy issued in India.


Under health insurance, the age and the amount of cover are the factors that decide the premium. Usually, younger people are considered healthier and thus pay lower annual premium. Older, people pay a higher health insurance premium as their risk of health problems or illness is higher.

In cashless Mediclaim settlement, it is settled directly with the network hospital. In cases where this is no cashless settlement, the claim amount is paid to the nominee of the policyholder.

In case there is no nominee made under the policy, then the insurance company will insist upon a succession certificate from a court of law for disbursing the claim amount. Alternatively, the insurers can deposit the claim amount in the court for disbursement to the next legal heirs of the deceased.

Yes, it is the same.

A Health Insurance policy is a reimbursement of the medical expenses.

Critical illness insurance is a benefit policy. Under a benefit policy upon the occurrence of an event, the insurance company pays the policyholder a lump sum amount. Under a Critical Illness policy, if the insured is diagnosed with any critical illness as specified in the policy.

The insurance company will pay the policyholder a lump sum. Whether the client spends the amount received on the medical treatment or not depends on the client's own discretion.

While filling up the proposal form for insurance you need to provide details of the illnesses you have suffered during your lifetime. At the time of insurance, you should be aware whether you have any disease and whether you are undergoing any treatment. The insurers refer such health issues to their medical panel to differentiate between pre-existing and newly contracted illnesses.

Note: It is important to disclose any disease you might be suffering with before buying the health insurance policy. Insurance is a contract based on good faith and any willful non disclosure of facts might lead to problems in future.

If you cancel the policy, your cover will cease to exist from the date of cancellation of policy. Additionally, your premium should be refunded to you on short period cancellation rates. You will find these in the policy terms and conditions in the policy document.

Travel insurance in India provides coverage for health expenses overseas as well as trip related insurance coverage. In addition to providing trip insurance for trip delays, trip interruptions, trip cancellations and related problems, it may also cover additional travel-related expenses such as those incurred for medical and health emergencies that may arise during your trip. Some plans also provide services such as travel-related advice, evacuation to your home or hospital in case of medical emergency, emergency cash or help in the event of the loss or theft of your money, valuables or travel documents.

You can purchase the policy on-line or at any of our branches.

Buying travel insurance online is easy. All you need to do is, follow the instructions on our website, enter your personal details and buy using your credit/debit card. The purchase is done on a secure page, and your credit card information is safe.

The insurance can be purchased from anywhere in the globe as long as the traveler is still in India. A son or daughter sitting in the United States or the United Kingdom can purchase insurance for their parents who are traveling from India.

All the relevant details about the policy is available online, so you can make an informed decision while purchasing the plan, and not depend on the decision of your travel agent or insurance agent.

Buying business insurance online saves time as it is convenient and can be completed in a matter of minutes without any paperwork. Purchasing online is environmentally friendly as there is no paperwork involved.

No, you do not pay anything additional. You pay only for the cost of the insurance policy. Our online facility provides the best prices; you cannot get a lower price for the same product anywhere else.

You can always save money by choosing one from our 5 different coverage’s. Select the policy suitable to your budget and requirements. If you travel overseas regularly then the annual multi-trip policy probably works best.

No, there is no such requirement to getting medical test for travel insurance. However, proposers who have completed the age 70 years will be required to submit medical reports. Henceforth for the Proposer of age group of 60 to 69 years, the medical report seeking conformation of Diabetes and Hypertension is no longer compulsory.

You will receive the policy document by email and a hard copy of the same document will also be sent to your Indian address by courier. In case of on-line policies the soft copies will be sent to registered e-mail I.D of the insured.

Yes, up to maximum of $ 250.00

The company will pay up to $ 7000.00 for Transportation of mortal remains or burial at local place to the bereaved family

The company pays up to maximum of $ 1000.00 to cover emergency needs like buying clothes and any other articles of urgent need after reaching the destination.

The private car can be used for social, domestic and pleasure purposes and also for business purposes excluding the carriage of goods other than samples by the insured or his employees.

The Insurer will protect the customer against any loss or damage to the Private Car and its accessories whilst thereon for the following events:

  • Fire, explosion, self ignition or lightning
  • Burglary, housebreaking or theft
  • Riot or strike
  • Earthquake (fire and shock damage)
  • Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
  • Accidental external means
  • Malicious act
  • Terrorist activity
  • Whilst in transit by road, rail, inland- waterway, lift, elevator or air
  • Land slide or Rock slide

All motor policies are annual policies issued for period of twelve months. However extension to a further period less than 12 months can be allowed with the approval of the competent authority, for arriving the renewals of the customer on a common date or for any other reason convenient to the customer. Additional premium needs to be collected for such extensions. Period less than 12 months can be given on Short Period basis only with the approval of the competent authority.

We require a proposal form in the all the following situations

  • New Business
  • Other Company renewal
  • On Transfer of Interest
  • On conversion of Liability Only cover to Package Policy
  • Change / Substitution of the vehicle
  • On alteration / improvement of vehicle either during the currency of the policy or during the renewal

Customer need to produce the vehicle for inspection under the following circumstances:

  • In case of break in insurance
  • In case of conversion of TP cover to OD cover
  • In case of covering Imported vehicles
  • In case of fresh payment received after cheque bounce
  • The authorized person from underwriting department will inspect the vehicle

The premium rating for Private Cars is based on the following factors:

  • Insured's Declared Value (IDV)
  • Cubic Capacity of the vehicle
  • Geographical Zones
  • Age of the vehicle

The exclusions are:

  • Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failure or breakages
  • Any damage to tires and tubes unless the vehicle is also damaged at the same and the liability of the Insurer will be restricted to 50% of the cost of replacement; and
  • If the private car is driven by a person who is under the influence of intoxicating liquor or drugs at the time of loss
  • Driving without a Valid Driving License
  • Using the vehicle for hire or reward, carriage of goods other than samples, racing and other racing related purposes and motor trade purposes

Own Damage to your vehicle - The policy covers you against any loss or damage caused to your car or it's accessories due to natural and man made calamities as defined in the scope of coverage

(i) Personal Accident Cover - The motor insurance provides you compulsory personal accident cover for individual owners of the vehicle, the personal accident cover is up to Rs. 2 lacs.

You can also opt for a personal accident cover for passengers. Rs.2 Lac is the maximum coverage that can be offered.

Third Party legal liability - The policy covers the vehicle owner's legal liability to pay compensation for:

  • Death or bodily injury to a third party person.
  • Damage to third party property.

Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lacs for Scooters / Motor Cycles.

A cover note is a temporary certificate of insurance issued by the Insurer before the issuance of a policy, after the Insured has given a duly filled in proposal form and has paid the premium in full.

A cover note is valid for a period of 60 days from the date of issue of the cover note and the Insurer shall issue the Certificate of Insurance before the cover note expires.

IDV means Insured's Declared Value. It is the value of the vehicle, which is arrived at by adjusting the current manufacturer's listed selling price of the vehicle with depreciation percentage as prescribed in the Tariff. For the vehicles that are obsolete and aged over 5 years, the IDV will be the value agreed between the Insurer and the Insured.

Manufacturer's listed Selling Price = Cost Price + Local Duties/Taxes, excluding Registration and Insurance.

The value of the obsolete vehicles and the vehicles aged over 5 years are arrived by our Assessment Team with the help of various resources like IMAs, Panel of Surveyors, Car Dealers, Second Hand Car dealers, etc.

Those items that are not supplied by the vehicle manufacturer along with the vehicle are called Electrical/Electronic accessories.

E.g., Music system that does not come along with the vehicle, LCD’S or Speakers etc.

The discounts that can be allowed under the Private Car policies are:

  • Voluntary Deductible discount
  • No Claim Bonus
  • Automobile Association Discount
  • Discount on Vintage Cars
  • No other discounts are permissible
  • It is a reward for No claim in the previous year. It can be accumulated over a period of time
  • Starts with 20% and goes up to 50%
  • NCB becomes Nil in case of a Claim
  • NCB follows the fortunes of the customer and not the vehicle
  • Validity - 90 days from the date of Expiry of the policy
  • NCB can be utilised within 3 years (where the existing vehicle is sold and a new car is purchased)
  • NCB recovery to be done in case of a Name Transfer
  • NCB gets transferred to the legal heir in case of Death of customer
  • NCB can be transferred to the New vehicle in case of Substitution of vehicle of the same class
  • NCB earned abroad can be given in India

The various PA covers under Private Car policies are:

  • PA to the Owner Driver
  • PA to the Paid driver
  • PA to the Unnamed occupants
  • PA to the Named occupants

If the customer sells the vehicle to another person, the Insurance can be transferred in the name of the buyer. The buyer (transferee) has to apply for transfer of Insurance with us, within 14 days from the date of transfer of the vehicle in his name. If the customer wants to substitute another private car of his in this policy, the policy will not be transferred to the buyer. The buyer (transferee) has to buy a fresh insurance.

An endorsement is a written evidence of an agreed change to a policy. It is a document that incorporates changes in the terms of the policy. If there are any alterations to be done in the policy the customer needs to approach Motor Insurance Company to effect the change in the policy. This is done by way of an endorsement.

An endorsement may be issued at the time of issuing the policy to provide additional benefits and cover (e.g., legal liability to driver) or to impose restrictions (e.g., accidental damage deductible). The wordings of those endorsements are provided in the tariff. An endorsement may also be issued subsequently to record changes such as change of address, change of name, change of vehicle etc.

  • Premium Cheque
  • Renewal Reply Form
  • If any changes are required in the coverage’s, the customer can incorporate the same in the renewal reply form

Home Insurance protects the building and contents of your home against natural and man-made calamities like fire, earthquakes, storms, cyclones, tempests, tornadoes, hurricanes, floods or inundation, lightning strike, explosion, landslides, impact by vehicles or aircraft, and bursting or overflowing of water tanks and pipes. It also covers the contents (jewelry also) of your home incase of Burglary


Home insurance covers the following fire and special perils:

  • Fire, Lightning, Explosion/Implosion, Aircraft Damage
  • Riot Strike, Malicious and Terrorist Damages
  • Bursting and overflowing of water tanks, apparatus, pipes,
  • Earthquake risk, Flood & Storm risks
  • Impact damage by rail/road vehicle and animal
  • Subsidence and Landslide including Rockslide
  • Missile testing operations
  • Leakage from automatic sprinklers installations
  • Bush fire

Yes, it covers loss to jewelry due to burglary or robbery but has a certain limit to it.

Domestic (electrical/mechanical) appliance, apparatus or gadget up to 7 years in age belonging to you or Your Family is damaged whilst in Your Home due to electrical or mechanical breakdown, and then we will pay for the Damage or if we choose, effect its repair or replacement

We will also pay for -

  • cost of dismantling and installation for purpose of repair;
  • freight, customs duties and other dues payable on replacement of the appliance;
  • Provided that these have been included in Sum Insured

Yes. Death, Permanent total and Partial Disablement. Temporarily Disablement are all covered

Yes and the coverage’s are as mentioned below:

  • Payment of EMI to financier.
  • Person cannot engage in any employment/occupation for a period in excess of 30 days.
  • Minimum 3 (three) days hospitalization.
  • Our Liability will be Maximum for 12 monthly installments.
  • Total disablement due to sickness and accident.

Accidental death, bodily injury, illness or disease to any domestic employee mentioned in the Schedule relating to this Sub-Section happening during the Policy Period arising out of and in the course of employment with You as domestic employee at Your Home under the Fatal Accident Act 1855,Workmen’s Compensation Act 1923 or any amendment thereto or under Common Law.

Legality liable under tenancy agreement for Damage to home rented by you as a tenant.

    • Cause (Section 1 and 2)
    • Section1 (Fire and Allied Perils) and Section 2 (Burglary, Housebreaking and Other Perils)
  • Building Electrical/ installation, over ground/underground cables, glass/sanitary fittings other fixtures, fittings.
  • Liability to be assessed on Market Value basis.

IDV stands for the Insured's Declared Value which is deemed to be the sum insured of the vehicle. The IDV of the vehicle is to be fixed on the basis of manufacturers listed selling price of the brand and model, minus depreciation based on the age of the vehicle

A No Claims Bonus is a discount given by an insurer to policyholders who do not claim on their policy in the policy period of car insurance. Typically this starts at 20% in the first claims free policy period of Car Insurance and goes up to maximum of 50%.

Loading is an additional premium, which is paid at the time of renewal of insurance policy if the claims experience during the policy term has been adverse.

There is a discount available if you install anti-theft devices in your vehicle provided the device is approved by the Automobile Research Institute of India and installation approved by automobile associations.

There is no extra premium that is payable in case of a claim but if the claim experience is bad then some loading may be charged as per company policy. You only lose your No Claim Bonus that you could have enjoyed had there been no claim on the policy.

Salvage is the value of wreck after a vehicle meets with an accident resulting in total loss, whereby retrieval of the vehicle into its initial condition is not possible.

Specific Exclusions:

  • Any accident outside the geographical area of operation
  • Consequential loss, normal wear and tear
  • Driving without a valid license for that class of vehicle
  • Driving under the influence of liquor / drugs
  • Vehicle not being used as per Limitations to use and
  • Mechanical or electrical breakdown, failure etc which fall under the specific exclusions
  • Willful Damage, Hire or Reward
  • Damage to tires and tubes unless the vehicle is damaged at the same time or the vehicle is stolen

General exclusion:

  • Radioactive contamination, nuclear fission, war invasion.

You can make a claim in following conditions:

  • Insurance Policy for that vehicle should exist,
  • If you have paid premium for paid driver or, it would be payable, if the car is being driven with your permission.
  • The person driving the car is duly licensed as the premium is taken based on the seating capacity, which also includes the person on the driver’s seat.

It is not always necessary to lodge a claim especially if the damage is small. Actually, It is not advisable to make a claim for small damages because, not only will you have to pay for depreciation and excess, reducing the claim amount to an even smaller figure, but you will also lose your 'NO CLAIM BONUS' (if any) at the time of renewal. However, once you have decided not to claim, you cannot claim these damages at a later stage.

You do get full reimbursement for the windscreen glass. However, there is a depreciation of 50% on the rubber lining and sealant. Additionally, you will also need to bear the policy excesses

Any claim can be rejected by an insurance company in certain conditions. Some common reasons for which a claim may be rejected are:

  • The policy has expired, or policy has been cancelled or the premium cheque has been dishonored making the policy invalid.
  • It could also be that the date of accident or loss falls outside the policy period or
  • The person driving the vehicle at the time of the accident did not possess a valid driving license or was under the influence of drugs or alcohol.
  • There are also situations where the ownership of the vehicle has changed but the Insurance Company has not been informed within 14 days of such change or the claim was for damages that existed before the policy started.
  • Some other reasons could be that the nature of damages does not co-relate with the cause of accident or that the vehicle was being used for other than personal or social purposes.

The corporate office of IFFCO–Tokio General Insurance Co. Ltd. is in Gurugram which is a part of National capital region. The postal address is as follows:

IFFCO–Tokio General Insurance Co. Ltd.


4th & 5th Floor,

Plot No. 3, Sector – 29,

Gurugram – 122001, Haryana

Insurer refers to the insurance company

Insured refers to the policyholder or the person protected in case of a loss or claim

IFFCO–Tokio is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, the largest listed insurance group in Japan. IFFCO-Tokio General Insurance has Pan India presence with 63 'Strategic Business Units' i.e., and a wide network of over 120 Lateral Spread Centres and 255 Bima Kendras

IRDA (Insurance Regulatory and Development Authority) is the apex body overseeing the insurance sector in India. Its main aims are to protect the interests of policyholders and regulate the insurance industry

Premium refers to amount paid to purchase an insurance policy. The frequency of premium payment can vary from monthly to quarterly to yearly or it could even be a one time payment of premium

Insurance is a hedge against the occurrence of unforeseen incidents. Insurance products help you in not only mitigating risks but also helps you by providing a financial cushion against adverse financial burdens suffered.

Accidents... illness... fire... financial securities are the things you'd like to worry about any time. General Insurance provides you the much-needed protection against such unforeseen events. Unlike Life Insurance, General Insurance is not meant to offer returns but is a protection against contingencies. Under certain Acts of Parliament, some types of insurance like Motor Insurance and Public Liability Insurance have been made compulsory.

Yes, Auto Insurance is mandatory in India. Having compulsory liability insurance is a statutory requirement of the Motor Vehicles Act, 1988. However, we recommend a comprehensive policy to limit your financial liability.

Insurance is the subject matter of solicitation. IRDA allows insurance to be sold primarily through following:


  • Company websites
  • Buying on phone. It depends upon individual company
  • Agents representing an insurance company
  • Insurance brokers are allowed to sell products of more than one insurance company Banks, retail houses or any other commercial ventures which are channel partner of these insurance companies


  • Approach the insurance company with a duly filled up proposal form, through any of the above mentioned channels
  • Seek an approval from the company on the intention of underwriting your policy. (I.e. evaluating your risk and exposures. Risk involves consideration of material facts on the basis of which company will take a decision whether to accept the risk and if so at what rate of premium.)
  • Seek premium & other relevant details
  • Pay the premium and take premium receipt and cover note/risk held note
  • Wait for documents
  • Check for its correctness on receipt and store it carefully till the policy expiry date
  • Ensure that you renew the policy well in time, before the expiry of the policy

Underwriting of a risk involves consideration of material facts on the basis of which a decision will be taken whether to accept the risk and if so at what rate of premium.

Typically General Insurance contracts are for one year period only

Agents represent an insurance company and sell products of that insurance company only. Whereas, insurance brokers are allowed to sell products of more than one insurance company.

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