Apollo Munich Easy Health Premium- Family Floater

Objective

This policy aims to provide complete health insurance for a family by including a comprehensive coverage for hospitalisation, outpatient treatment, maternity expenses, newborn baby cover,  and other incidental expenses.

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?

It is the third and most comprehensive variant of Easy Health policy from Apollo Munich. It is an all-inclusive policy that covers maternity expenses, newborn baby, out-patient dental treatment and provides daily cash benefit for an adult accompanying  insured child. There is also an optional cover for Critical Illness which will pay a lump sum amount on confirmed diagnosis of any of the listed illnesses. Critical Illness cover will attract additional premium from policyholder. Maternity benefit and out-patient dental treatment will be covered only after the waiting period. Some other benefits such as external aids including spectacles, hearing machine and contact lenses and health check-up benefit will be allowed once after lapse of every certain number of claim free years.

Pros

There is no cover ceasing age. It offers a life long insurance.
It offers a discount of 7.5 per cent on advance payment of 2-year premium.
It gives a cumulative bonus of 10 per cent for every claim-free year up to a maximum of 50 per cent.
This policy can be purchased online.
It provides for homeopathic, ayurvedic, Unani and Sidha treatment.
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.
There is a waiting period before maternity expenses and out-patient dental treatment become eligible.

Our View

Shopping for insurance should be purely based on your needs and budget. Only if you think you require a comprehensive coverage, should you go for it. Or consider lower variants of 'Easy Health' policy which offer a coverage for lesser price. Ensure that you know the waiting period before taking this policy.