Apollo Munich Health Insurance plans to roll out two new plans under its Optima series – Optima Vital and Optima Super. Optima Vital – a critical illness plan, covers 37 critical illnesses against normal industry standards of providing cover for around 7 to 20 of these conditions. Optima Super is an aggregate high deductible cover for individuals and families that comes with a switch benefit (Waiver of Deductible Benefit) of converting the high deductible into a full-fledged nil deductible plan, without any underwriting.
Optima Vital protects consumers financially upon diagnosis of any pre-defined critical illnesses. It covers aliments such as coma, kidney failure, major burns, bacterial meningitis, cancer, heart attack, stroke, and such life threatening conditions. Optima Vital promises 100 per cent lump-sum pay out on detection of any of the 37 critical illnesses.
Antony Jacob, CEO, Apollo Munich Health Insurance said, “At Apollo Munich, our focus is to constantly challenge ourselves and come up with high quality products with innovative features that ease the financial burden of customers arising out of medical emergencies. Given the increased stress levels and changing lifestyles, Indians are encountering critical illnesses more than ever before. Not only the incidence rate of such diseases is increasing, the number critical illnesses is also on a rise. Hence, there is a deep-felt need in the market for a one stop shop plan that covers all the major critical illnesses to help reduce the financial trauma related to critical illnesses.”
The customers of Optima Vital are given the option of taking e-opinion from Apollo Munich’s panel doctors, as and when required by them. This is an inbuilt benefit and comes with all sum insured variants. Optima Vital offers the consumer lifelong renewal and shall terminate on first occurrence of any one of the defined critical illnesses. The entry age for the cover is 18 years, with maximum age of entry being 65 years. The policy also offers an income tax benefit under Section 80D.
Apollo Munich’s Optima Super is an aggregate high deductible plan that allows customers to enhance their sum insured coverage as per their need at a lower cost. Optima Super customers do not have to cross the deductible limit at every claim incidence, but can aggregate all claims during a policy period over multiple hospitalizations to cross the deductible limit.
Optima Super comes with the switch benefit where the customers have an option of converting his/ her Optima Super into a full-fledged nil deductible plan without any underwriting or consideration of your current health status at two occasions. One – when a customer is due for his sixth consecutive renewal. Two – when a customer is 55-60 years old (and has availed the policy before the age of 50 years).
“In India, healthcare services are getting more sophisticated and expensive in the light of advancement in technology and medical inflation. Individuals can no longer use their internal financial resources to counter such rising expenses. Optima Super is based on customer feedback that addresses customers’ need to mitigate their increased medical expenses at affordable rates. This plan is best suited for individuals with group cover or low sum insured policies or those who can afford to spend the first few lakhs from their pocket.” said Jacob added.
Optima Super also offers a lifelong renewal benefit and comes with an added option of availing a single cover for the entire family (family floater).
EH News Bureau