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Insurance Plans 568 views November 12, 2019
Apollo Munich Health Insurance Company – Overview
|Name||Apollo Munich Health Insurance|
|Company Tagline||Let's Uncomplicate|
|Owner||Joint Venture between Apollo Hospitals Group- 51%
and Munich Health- 49%
|Products||Health, Travel and Personal Accident Insurance|
|Total No of Employees||4500+|
Sedentary lifestyle inflated medical expenditure, and uncertainty of life are the major factors that have made availing health insurance a necessity. Preparing yourself to face these adversities is utmost necessary.
Table of Contents
Apollo Munich Health Insurance Company is one of the reliable and leading health insurance providers in India. Insurers who want to invest in Health Insurance and want a plethora of health insurance plans, for them Apollo Munich Health Insurance Company is perfect. The company offers the best health insurance plans for customers of any age group and gender. The plethora of plans ranging from Easy Health or Optima Restore or Optima Vital is designed to not only secure your financial needs arising due to heave medical bills but also provide guidance towards healthcare wellness. The Apollo Munich Health Insurance Plans have received a rating as best health insurance by its customers. Let us understand various health insurance plans and products offered by the company.
Apollo Munich Health Insurance Company offers health insurance products in three segments namely:
All the above three segments provide insurance products to insurers across different age groups and for both men and women.
Medical Emergencies and Diseases come uninvited. You need to be prepared about these uncertainties of life beforehand. A health insurance plan comes handy and is helpful in tackling medical emergencies before they become financial emergencies. Individual health insurance plans offered by Apollo Munich Health Insurance Company are designed to offer three-fold protection to the policyholder i.e. protection against heavy medical bills, Cashless Hospitalization Facility and various add-on features that differ as per the health insurance plan you opt. Kindly note, under the Individual Health Insurance Plan only one person i.e. the policyholder is covered. The following are the various individual health insurance plan offered by the company.
This individual health insurance plan is the basic health insurance product offered by the company. The plan covers for Pre-Hospitalization expenses, Post-Hospitalization Expenses, Day Care procedures, Domiciliary Treatment, Daily Cash, Expenses incurred for organ donation procedure, Emergency Ambulance expenses, Health Check-up Costs, covers for Critical Illness and offers Critical Advantage Rider. The plan comes in 3 variants namely: An Affordable plan (where the sum insured ranges between 1 lakh to 15 lakhs), Plan for Young Family (Sum Insured Ranges between 3 lakhs to 50 lakhs + offers additional features apart from the ones offered under the basic variant) and Premium Plan ( Sum Insured Ranges within 4 Lakhs to 50 Lakhs plus premium add-on features)
A health insurance plan offers to restore benefit up to 100% of the sum insured in case the sum insured is exhausted. The plan offers health insurance cover from Rs 3 lakhs to Rs 50 lakh for individuals between the ages group of 5 years to 65 years. The benefits offered by this plan are hospitalization expenses both pre-hospitalization and post-hospitalization, daycare treatment expenses, no-claim bonus equivalent to 50% of sum insured up to max 100% of SI, etc. are few of the many benefits offered under the plan.
The plan offers coverage ranging between Rs 3 Lakhs to Rs 50 Lakhs. Other benefits offered by this health insurance plan are: Reserve Benefit, the plans cover for OPD expenses (where the balance amount is carried forward to the next policy year), Pre-hospitalization expenses coverage of 60 days, post-hospitalization expenses of 90 days, covers for day-care treatments, expenses related to organ donation, worldwide Emergency Care, Emergency Ambulance, Critical Advantage Rider, etc. and many more add-on benefits.
This health insurance plan covers expenses related to cancer treatment. This plan comes in two variants one specifically designed for women and the other to cover the rest of the individuals. The plan offers sum insurance coverage ranging between Rs 5 lakhs to Rs 50 lakhs. Other benefits include pre-hospitalization and post-hospitalization expenses of 30 days and 60 days respectively, coverage towards conventional and advanced treatments covers expenses towards the second opinion, etc.
As the name suggests this plan is designed to offer comprehensive and exclusive coverage against medical expenses incurring towards the treatment of dengue fever. The plan covers for pre and posts hospitalization expenses, offers for shared accommodation benefit, Outpatient Benefit, etc. the plan offers for the same premium amount for all age groups, no pre-policy health check-up required and the policyholder can avail tax benefits on the premiums paid under the policy.
This plan offers daily hospitalization cash required during the hospitalization period. This is a cash benefit available is to cover for sickness hospitalization, sickness ICU hospitalization, Accidental Hospitalization Cash, Day-care treatment Cash and many more.
This is a top-up plan that offers coverage ranging between Rs 5 Lakh with a deductible range of Rs 1 Lakh and Rs 5 Lakh, the entry age under this plan is between 5 years to 65 years the covers for a dependent child over the age of 91 days.
This plan offered by Apollo Munich Health insurance company is an aggregate top-up plan that offers the policyholder with the flexibility of choosing the deductible amount and policy coverage. The details of the individual plan include covers a wide range of customers including age group starting from 5 years to 65 years. Under this plan, a dependent child can be covered aged 91 days or more. The coverage offered under the plan is between Rs 5 lakhs to Rs 10 lakhs while the deductible amount ranges between Rs 1 Lakh to Rs 10 lakhs.
This is a critical illness health insurance plan that covers the expenses incurred towards the treatment of 37 pre-defined critical illness. The plan also offers the facility of ‘E-Opinion’ for the diagnosed critical illness. The sum insured range under this plan ranges between Rs 1 Lakh to Rs 50 Lakhs.
Often all the health insurance plans available in the market cover for bigger sickness, diseases or illness and not a small illness. Apollo Munich has understood this need of its customer and introduced ‘Maxima’ health insurance plan that offers comprehensive coverage for the expenses made towards the treatment of small sickness. The plan covers for the expenses incurred towards doctor’s consultation, pharmacy expenses, Diagnostic expenses, cost of dental procedures and treatment, health checkups, eye checkups, and expenses towards spectacles and contact lenses etc. Another biggest advantage of availing this health insurance plan is that the policyholder can avail tax benefit for the premiums paid under this plan.
Apollo Munich has a dedicated product line that offers comprehensive health insurance products for every individual and that includes health insurance for people with a pre-existing diabetic condition. This Energy health insurance plan covers individuals living with diabetes. The attractive features of the plan include sum insured ranging from Rs 2 Lakhs to Rs 50 Lakhs, pre and post hospitalization expenses, expenses to check HbA1c periodic checkup, expenses incurred in case of organ donation, emergency ambulance facility and cover, etc.
The rising cost of a medical facility is making it difficult to face financial emergencies. Having a health insurance plan for your entire family is advantageous as it provides financial safety against the rising cost of medical aid and thereby safeguard the future of your family. Apollo Munich Health Insurance Company ensures you that availing a family health insurance plan will help you in safeguarding your savings even in times of medical emergencies. By availing a family health insurance plan from Apollo Munich Health Insurance Company will cover every family member against any unforeseen medical emergency like illness or accident. A family health insurance plan also called a family floater policy is one plan for all family members where a fixed premium is paid to provide health insurance cover. Under the family floater policy, the claim can be availed by any family member for one or more times during the tenure of the policy. Compared to an individual health insurance plan, a family health insurance plan can be availed at a relatively low premium, as the premium is dependent upon the age of the eldest family member covered under the policy.
Following are the various family health insurance plan offered by the Apollo Munich Health Insurance company:
Apollo munich optima restore plan covers the entire family. The sum insured coverage available under the plan ranges between Rs 3 lakhs to Rs 50 Lakhs. The maximum age of the adult to be covered under this family health insurance plan is 65 years while the age of the dependent can range between 3 months to 25 years. A maximum of two Adults and five Children can be covered under this plan. The policy offers to restore the benefit of up to 100% of sum insured after the entire sum exhausts. Additional benefits available under the plan include E-opinion in case of diagnosis of critical illness, multiplier benefit, coverage of pre-hospitalization and post-hospitalization expenses, coverage of day-care treatment and procedures, no-claim bonus, etc.
This is the basic family health insurance plan offered by Apollo Munich. This plan comes in three variants namely Standard, Exclusive and Premium. All the variants of the plan offer the following key benefits as under:
A comprehensive hospitalization cover offers expenses of inpatient expenses like room rent, ICU charges, pharmacy expenses, anesthesia, oxygen, cost of surgical equipment is, cost of diagnostic procedures, etc.
The rider offer cover against the critical illnesses pre-defined under the policy. The plan offers coverage against the expenses incurred for the treatment of critical expenses and for the medical care expenses.
The cumulative bonus benefit offered by the plan increases your health insurance coverage by 10% of the sum insured every year until the time no claim has been registered. Health insurance is a long term insurance plan so such a cumulative bonus increases the sum insured of the policy every year by 10% for every claim-free year. This cumulative bonus can range up to 100% of the sum insured.
This health insurance plan covers maternity expenses like childbirth, healthcare treatment from qualified doctors during pregnancy and post-childbirth, any hospitalization expenses incurred for the treatment of newborns up to 90 days after the birth. Kindly note, the coverage for the newborn will commence from the date the premium has been received.
The entire health insurance plan offers comprehensive coverage to the entire family. The plan takes care of all the expenses incurred under medical treatment including pre and post hospitalization expenses, investigation, consultation and medical care expenses incurred during 60 days of pre-hospitalization and 90 days post-hospitalization. The complete coverage ensures that there are ZERO burdens on the pocket of the policyholder.
Stay Active Benefit ensures that the policyholder earns up to an 8% discount on health insurance policy renewals every year.
AYUSH stands for Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy. The AYUSH benefit ensures that the policyholder can pay for the expenses incurred on such treatments. This benefit can be availed at any government hospital or any institute recognized by the government.
The plan offers a sum insured ranging between Rs 3 Lakhs to Rs 50 Lakhs. Cover for OPD expenses, Restore Benefit, Multiplier Benefit, Pre and Post hospitalization expense cover, worldwide Emergency Care, Emergency Ambulance expenses, etc. and much more.
This is an aggregate top-up plan offered by Apollo Munich. The plan offers to cover for daycare procedures, expenses related to organ donation, emergency ambulance, pre and post hospitalization expenses, etc.
Senior citizen health insurance plan is designed to cover for the medical treatments of a senior citizen. During the golden years of life, the income of senior citizens ceases so it is of utmost important for them to avail a health insurance plan that will take care of every small expense that is arising during old age. Having an exclusive health insurance coverage will help them to cope up with the rising medical care expenses as doctor visits increase with growing age.
Thus, in this manner availing a health insurance plan from Apollo Munich Health Insurance Company will ensure that your financial savings are safeguarded even in times of medical emergencies.
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