The 'iShield' combi product, which will offer clients both health and life insurance under the "use and file" approach, was jointly launched by ICICI Lombard General Insurance and ICICI Prudential Life Insurance.
Customers will be able to cover the costs associated with medical treatments thanks to "iShield." In addition, a lump sum payment will be made to the family in the terrible event of the policyholder's passing, according to a Wednesday press statement. ICICI Lombard executive director Sanjeev Mantri said, “iShield is a one-of-its-kind offering that is synergistic in capabilities and shares the brand values of ICICI Prudential Life Insurance and ICICI Lombard.”Amit Palta, chief distribution officer of ICICI Prudential Life Insurance, said the newly-launched product is an innovative proposition, which addresses the two topmost insurance needs of customers-health and life
In addition to the life and health insurance, iShield offers other advantages including routine medical visits, hospitalisation, medication, and preventative checkups for the insured and other people covered by your policy. Even if the insured suffers from a terminal illness, life insurance would be supplied. The requirement of submission of medical tests and other documentation only once for both life and health insurance would be a major benefit of the iShield plan for clients. Also customers would be receiving a 5% discount in the health insurance premium. The sum insured varies from 5 lakhs to 20 lakhs for health coverage and from 50 lakhs to 1 crore for life insurance. Anyone between the ages of 18 and 65 may acquire this plan and benefit from the tax advantages given by Sections 80C and 80D of the Income Tax Act. More information on iShield is available on the insurer's official website (https://www.icicilombard.com/health-insurance/ishield-combi-policy) .
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