Apollo Munich Easy Health Exclusive- Family Floater

Objective

This is a floater policy that covers entire family with one sum insured. It covers maternity expenses, Ayurvedic, Unani, Sidha and Homeopathy treatment as well. It can be bought online.

Suited for

This policy is most suitable for young couples who are planning to go the family way. Individuals looking to insure their spouse and dependent children can also buy this policy.

What does it do?

Apart from hospitalisation benefit, it covers maternity expenses and also offers an optional critical illness cover that requires additional premium. In case of hospitalisation of insured child, it pays a daily cash amount to cover the expenses of accompanying adult member. It also covers organ donor's hospitalisation expenses and ambulance charges for carrying an insured person.

Pros

There is no cover ceasing age. It offers a life long insurance.
It offers a flat discount of 7.5% on advance payment of 2 years premium.
This policy can be purchased online.
It provides for ayurvedic and homeopathic treatment as well.
Premium paid under this policy qualifies for deduction under section 80D of income tax act.

Cons

In case, cumulative bonus has been passed and a claim arises during that year, cumulative bonus would be reduced by 20 per cent in the following year.
Maternity expenses will be covered after stated waiting periods.

Our View

Shopping for insurance should be based only on your needs and budget. This policy is recommended if your need matches with the policy offerings. It is important to go through the waiting period for certain benefits to start before buying this policy.