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A Review of Apollo Munich Optima Restore Health Insurance Policy

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Apollo Munich Optima Restore Health Insurance Plan is one of the most popular health insurance plans available in the Indian insurance domain today. In fact, this amazing plan is so popular that a large number of people pin down their faith upon this comprehensive health plan when it comes to buying health insurance policies to ensure complete financial protection against medical emergencies for their entire family.

Things to Know

  • This popular health insurance plan is available for your entire family including your spouse, kids, and elderly parents.
  • It allows policy holders to claim hospitalization expenses.
  • The policy provides with the option of restoring the basic sum assured in case it is exhausted in claims.
  • No claim bonus is payable in this plan.
  • This plan is available in two distinct variants - Individual and Family Floater.
  • Family floater variant of this plan allows policy holders to include a maximum of 2 adults and 5 dependent children.
  • This health insurance plan provides options of lifetime renewability.
  • There is no sub-limit on hospital room rent
  • There is no co-pay required in this plan.
  • The plan allows for cashless hospitalization in its network of 4000+ hospitals located in over 800 Indian cities.
  • This plan provides covers for pre-hospitalization, hospitalization and post hospitalization expenses.
  • The plan also covers Day Care Treatment, Domiciliary Treatment, Organ Donor costs, etc.
  • This plan doesn't include maternity expenses.

Now that you know some of the most important points about Apollo Munich Optima Restore Health Insurance Plan, it's time to get acquainted to the two unique features of the plan.

Salient Features:

  1. Restore Feature: One of the biggest benefits of Apollo Munich Optima Restore Health Insurance Plan is its restore feature. This feature allows policy holders to restore their basic sum assured in the event where they end up exhausting their sum assured in claims. The sum assured can be restored during the same policy year without any extgra charges.

But here it is important to remember that restore feature works only when:

  • Full Basic Sum Assured has been utilized
  • Claims have been made for different diseases
  1. Multiplier Feature: Yet another salient feature of this amazing plan is the multiplier feature. This feature ensures that if you make no claims in the first year, then your Basic Sum Assured is increased by 50%. In addition, if you make no claims for 2 consecutive years, then the Basic Sum Assured is increased by as much as 100%. This feature makes sure to reward you with Double Basic Sum Assured if you don't make any claims on your policy.

Now, it's time to get acquainted to some of the most exciting benefits and advantages of Apollo Munich Optima Restore Health Insurance Policy.

Benefits and Advantages:

  • Availability of cashless hospitalization
  • Discount of 7.5% on policy term of 2 years
  • Tax exemption on premium payment
  • 15 days free look period
  • No capping on doctor's consultation fee, surgery charges, hospital room rent and charges for intensive care unit.
  • Quick approval for cashless hospitalization
  • Availability of easy upgrade options on policy renewal

Coverage:

Apollo Munich Optima Health Restore health insurance offers a wide range of coverage to ensure utmost savings for the policy holder.

The plan provides coverage for:

  • Cover provided for in-patient treatment:
    • The plan offers cover for pre-hospitalization expenses for up to 60 Days.
    • The plan offers cover for post-hospitalization expenses for up to 180 Days.
  • Over 140 day care procedures are covered under the plan.
  • The plan provides adequate cover for domiciliary treatment.
  • The plan provide cover for emergency ambulance services for upto Rs.2,000 per hospitalisation.

You may like to read : Apollo Munich Optima Restore Knows Your Needs

Tax Benefits:

Under section 80D of the Income Tax Act 1961, the plan offers immense tax benefits to the policy holders:

  • The plan offers exemption of Rs 15000 on the premium paid for health insurance for self, spouse and dependent kids.
  • The plan offers additional Rs 15,000 tax exemption for premium paid towards the health insurance for dependent parents. There is additional Rs 5000 tax exemption for premium paid towards the health insurance of parents who are Senior Citizens.

This article was written by Steffi Sharma for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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