Universal Sompo Complete Healthcare Essential vs Iffco Tokio Family Health Protector
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Introduction
Before we start comparing these two policies we have to set out some ground rules.
Both products are marketed by different insurance companies. Complete Healthcare Essential is sold by Universal Sompo and Family Health Protector is sold by Iffco Tokio. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.
Second, we know that both products have massive differences in their core structure. Complete Healthcare Essential is more comprehensive. It covers a lot more use cases and doesn’t have any egregious conditions. However, Family Health Protector is quite basic. It offers little protection and may not be entirely suitable if you are looking for robust protection. So fundamentally, they’re two very different products.
And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?
That’s something you’ll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.
Let’s start with Complete Healthcare Essential. The product comes from Universal Sompo’s stable:
Universal Sompo General Insurance Company is a public-private venture floated by two nationalized banks (Indian Overseas Bank and Allahabad Bank), one private bank (Karnataka Bank), an FMCG giant (Dabur Investment Corporation), and a well-known Japanese insurance firm (Sompo Japan Nipponkoa Insurance Incorporation).
The insurer also sells 135 IRDAI approved products and boasts over 5,000 network hospitals with a claim setllement ratio of 95%. Needless to say, the company isn’t exactly stellar when it comes to processing claims.
Family Health Protector meanwhile comes from Iffco Tokio’s stable:
Iffco Tokio is a joint venture between Indian Farmers Fertiliser Cooperative Limited (IFFCO), a government-owned fertilizer company, and Japan-based Tokio Marine Group. They have a sizable presence in many rural markets, however, their presence in urban areas isn't exactly extraordinary.
The company has a network of over 7,000 hospitals and its CSR ratio isn’t useful, since they have been settling a lot of pending claims from last year.
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Compare Insurances Insurance Parameters Recommended Not Recommended | Complete Healthcare Essential | Family Health Protector |
|---|---|---|
| Network hospitals | 5,000+ | 7,000+ |
| Claim settlement ratio (avg. of last 3 years) | 95% | 95% |
| Co-payment | No | No |
| Room rent | Any Room | Any room (up to 1.5% Sum Insured) |
| Disease sub-limit | No | No |
| Pre existing diseases waiting | 3 years | 4 years |
| Pre/Post hospitalization | 30/60 days | 45/60 days |
| No claim bonus | 10% per year (up to 50%) | 5% per year (up to 50%) |
| Domiciliary | ||
| Ayush treatments | ||
| Restoration benefit | 100% restoration (once for different illness) | 100% restoration (once for different illness) |
| Health check-up | Once every 2 years | Once every 4 years |
| Maternity | Available (up to ₹25,000 after 3 years) | |
| Out Patient Department | Up to ₹5,000 | |
| Day care |
Feature Comparison
Co payment
With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Complete Healthcare Essential doesn’t impose a co-payment clause. And neither does Family Health Protector.
Room rent
If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, however, you can pick any room you want with Complete Healthcare Essential but Family Health Protector lets you stay in Any room-up to 1.5% Sum Insured
Sub limits
Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, neither Complete Healthcare Essential imposes disease-wise sub-limits nor does Family Health Protector
Waiting periods for pre-existing diseases
If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. In this case, Complete Healthcare Essential imposes a waiting period of 3 years on pre-existing diseases while Family Health Protector extends a waiting period of 4 years on existing conditions.
Pre and post Hospitalization expenses
Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Complete Healthcare Essential covers expenses incurred 30 days before hospitalization and expenses incurred 60 days post-hospitalization. Meanwhile, Family Health Protector covers expenses incurred 45 days before hospitalization and expenses incurred 60 after hospitalization, although there may be different sub-limits
No claim bonus
Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. In this case, however, Complete Healthcare Essential offers a no-claim bonus of 10% whereas Family Health Protector offers a no-claim bonus of 5%. And the no-claim bonus may be capped at different levels too.
Domiciliary
Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, Complete Healthcare Essential offers domiciliary cover. And Family Health Protector also coves domiciliary expenses.
Ayush treatments
Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case, Complete Healthcare Essential covers Ayush procedures and Family Health Protector also extends coverage for Ayush treatments.
Maternity benefits
If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, however, Complete Healthcare Essential offers maternity cover whereas Family Health Protector doesn’t offer protection for maternity-related hospitalizations.
Out Patient Department (OPD)
Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, Complete Healthcare Essential offers OPD cover whereas Family Health Protector doesn’t offer OPD protection.
Final Conclusion
After considering all the features on hand, we believe that Complete Healthcare Essential is a better alternative to Family Health Protector for most use cases that we’ve evaluated so far.
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