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Insurance Plans Comparison

ICICI Lombard Health Shield 360 vs Niva Bupa Health Companion Variant 2

Make an informed decision with our detailed side-by-side comparison of top health insurance policies. Compare...

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ICICI Lombard

Health Shield 360

Reset up to 100% of the sum insured unlimited times for a later unrelated illness, cover 90 days before hospitalisation and 180 days after, and add a 10% claim-free cumulative bonus up to 100%.

What Makes It Special:

Health Shield 360 by ICICI Lombard is a group health insurance product offering hospitalisation, daycare procedures, inpatient AYUSH treatment and pre- and post-hospitalisation expenses. Its key features include an unlimited reset benefit, a cumulative bonus of up to 100% of the sum insured and optional covers such as OPD, maternity,...

Best For:

  • Customers who value the flexibility to select additional protection, subject to group policy availability.

  • People seeking optional benefits such as OPD consultations, diagnostics or maternity cover.

  • Customers who want to build additional cover through claim-free-year bonuses.

  • Individuals or families looking for hospitalisation and daycare treatment cover.

  • Customers seeking health insurance with an unlimited reset benefit for eligible future claims.

VS
Niva Bupa

Health Companion Variant 2

Add 20% of the base sum insured each claim-free year up to 100%, refill the base sum insured once for a different illness, and get animal-bite vaccination up to ₹5,000 with an annual health check-up.

What Makes It Special:

Health Companion Variant 2 is a Niva Bupa floater covering hospitalisation, day care, AYUSH and domiciliary treatment, with a refill benefit, no-claim bonus and 2- or 3-year term discounts. Variant-specific terms are not separated in the prospectus.

Best For:

  • Buyers who do not need maternity or OPD cover

  • Buyers who need hospitalisation, day care and AYUSH cover

  • Buyers who plan to pay for two or three years to get term discounts

  • Buyers who want a no-claim bonus that builds to 100%

  • Families who want a floater with a refill benefit

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Get Personalized Advice

Our insurance experts are here to help you make the right choice. Get personalized recommendations based on your specific needs and budget.

Quick Decision Guide

  • Understand the reset benefit's restrictions, including its non-availability for the first claim and its annual reset limit.

  • Evaluate optional benefits, including Claim Protector, OPD, maternity and worldwide cover, against their additional premiums and limits.

  • Check the room-category entitlement, as choosing a higher category may lead to proportionate deductions.

  • Review the two-year PED and specified-treatment waiting periods before choosing the plan.

  • Compare the available sum insured with likely hospitalisation costs and your existing health insurance.

  • The refill applies only once a policy year.

  • The 20% co-payment for higher room categories applies on Variant 2023.

  • Maternity is not covered, so plan separately if needed.

  • Term discounts do not apply if premium is paid monthly, half-yearly or quarterly.

  • The 36-month PED wait applies, so buy early if you have an existing condition.

Insurance Plans Comparison

Detailed Features Comparison

Compare the key features of different health insurance plans

Health Shield 360
Health Shield 360

Health Insurance Plan

VS
Health Companion Variant 2
Health Companion Variant 2

Health Insurance Plan

Brochure

Room Rent

Health Shield 360

Normal: No Capping (Covered up to Sum Insured)

ICU: No Capping (Covered up to Sum Insured)

VS

Health Companion Variant 2

  1. Normal Room: No limit (any single private room covered)
  2. ICU Charges: Fully covered (as per actual hospitalization expenses)
Advanced Treatments

Health Shield 360

Day Care Procedures

Organ Donor Expenses

Home Healthcare (Optional)

Air Ambulance (Optional)

Worldwide Coverage (Optional)

VS

Health Companion Variant 2

  1. Robotic Surgery Therapy
  2. Bariatric Surgery 
  3. Oral Chemotherapy 
  4. Proton Beam Therapy 
  5. Deep Brain Stimulation 
  6. Implantable Devices 
ICU Charges

Health Shield 360

ICU expenses are covered under eligible hospitalisation claims, subject to the applicable sum insured and any room or ICU restrictions in the policy schedule.

VS

Health Companion Variant 2

Covered up to the sum insured as part of in-patient care

Co-payment

Health Shield 360

None (100% claims paid by insurer)

VS

Health Companion Variant 2

No mandatory co-payment for most policyholders. However, for individuals aged 65 years and above at the time of entry, a co-payment of 20% applies to each claim.

Disease-wise sublimits

Health Shield 360

Disease- or procedure-specific sublimits may apply if the relevant optional sublimit benefit is selected under the policy. The applicable limits are determined by the policy schedule.

VS

Health Companion Variant 2

No disease sublimit schedule in the prospectus

Cashless Healthcare Providers

Health Shield 360

6500+ network hospitals

VS

Health Companion Variant 2

10,000+ network hospitals.

Restoration Benefit

Health Shield 360

The Unlimited Reset Benefit can reset up to 100% of the annual sum insured an unlimited number of times in a policy year when the available cover is insufficient after previous claims. The reset does not apply to the first claim, is limited to the annual sum insured, and is subject to reuse conditions and policy terms.

VS

Health Companion Variant 2

Information Unavailable

Daycare Treatment

Health Shield 360

Covered

VS

Health Companion Variant 2

Covered under the policy. 

Cumulative Bonus

Health Shield 360

An additional sum insured of 10% accrues for each claim-free policy year, up to 100% of the sum insured. A claim can reduce the accrued bonus by 10% of the annual sum insured.

VS

Health Companion Variant 2

20% of the expiring base sum insured per claim-free year, up to 100%

AYUSH Treatment

Health Shield 360

Covered

VS

Health Companion Variant 2

Covered under this policy

Consumable Cover

Health Shield 360

Non-payable items are not automatically covered under the standard plan. The optional Claim Protector benefit can cover eligible listed items, subject to its terms.

VS

Health Companion Variant 2

Prescribed medicines and consumables during treatment are covered. Annexure II items are not.

Initial Waiting Period

Health Shield 360

30 days for illnesses. Hospitalisation due to an accident is exempt from this initial waiting period.

VS

Health Companion Variant 2

30 days, except accidents

Specific Waiting Period

Health Shield 360

Two years for specified illnesses and treatments. A separate 90-day restriction applies to expenses related to hypertension, diabetes and cardiac conditions, subject to the policy's PED provisions.

VS

Health Companion Variant 2

24 months for listed conditions

PED Waiting Period

Health Shield 360

Two years for declared and accepted pre-existing diseases, subject to the applicable policy terms.

VS

Health Companion Variant 2

36 months

Modern Treatment

Health Shield 360

Eligible modern medical treatments are covered when they meet the policy's definitions, conditions and exclusions.

VS

Health Companion Variant 2

Covered up to the sum insured

Annual Health Checkup

Health Shield 360

Available as an optional benefit, subject to the selected cover, eligibility, limits and applicable conditions.

VS

Health Companion Variant 2

Annual from day one, for defined tests. Up to ₹500 per ₹1 lakh of base sum insured. Cashless only.

Pre-Hospitalisation

Health Shield 360

Eligible medical expenses are covered for up to 90 days before hospitalisation.

VS

Health Companion Variant 2

60 days before admission

Post-Hospitalisation

Health Shield 360

Eligible medical expenses are covered for up to 180 days after hospitalisation.

VS

Health Companion Variant 2

180 days after discharge

Outpatient Department Cover (OPD Expense)

Health Shield 360

Optional reimbursement cover for eligible consultations, pharmacy expenses and diagnostics. Limits are ₹2,000 for ₹5 lakh sum insured, ₹4,000 for ₹10 lakh and ₹7,500 for ₹25 lakh or ₹50 lakh.

VS

Health Companion Variant 2

Not covered

Deductible Option

Health Shield 360

A voluntary deductible may be selected where available. It applies to aggregate hospitalisation expenses during the policy year before the insurer becomes liable.

VS

Health Companion Variant 2

Annual aggregate deductible from ₹10,000 to ₹10 lakh

Coverage Options

Health Shield 360

Individual and family floater options are available, subject to the applicable group policy's eligibility and enrolment conditions.

VS

Health Companion Variant 2

Individual or floater, with optional hospital cash, personal accident and deductible

Claim Settlement Ratio

Health Shield 360

FY 24-25: ~84%

VS

Health Companion Variant 2

Claim Settlement Ratio (CSR) of 93.3% as a three-year IRDAI weighted average, and 95.6% in recent quarterly company disclosures (Q1 FY 2026-27).

Maternity Cover

Health Shield 360

Available as an optional benefit for eligible delivery expenses, including caesarean delivery and lawful medical termination of pregnancy. Cover is limited to two deliveries or terminations during the period of insurance, subject to the applicable terms.

VS

Health Companion Variant 2

Not covered

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Get a dedicated expert managing your claim end-to-end, from hospital admission to approval, including dispute resolution and support

What Our Experts Help You With

Personalised Recommendations

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Explore Insurance Category

Senior Citizen Health Plan

Senior Citizen Health Plan

  • Secure against age-related medical costs

  • Tailored for seniors healthcare needs

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Family Health Plan

Family Health Plan

  • One policy covers the entire family

  • High sum insured with cashless care

  • Multiple coverage options based on your family needs

Maternity Health Plan

Maternity Health Plan

  • Covers delivery, newborn care, and maternity expenses

  • Reduces financial stress of childbirth costs

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Frequently Asked Questions (FAQs)

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Health Shield 360 Vs Health Companion Variant 2

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