Apollo Munich Insure Health

Objective

This is a low cost and instant policy wherein, the time lag between submission of proposal form and policy activation is minimal. It aims at relieving proposer of any tedious procedures involved in buying insurance.

Suited for

This policy is suitable for young and single individuals as a starter policy only, if their budget does not allow to buy a more comprehensive one. Self, spouse, dependent children and dependent parents can be covered under this policy on an individual sum insured basis.

What does it do?

This is an instant policy wherein the Proposer can fill and submit the proposal form at any of Apollo Munich sales counters. Unlike other policies, there is no time lag between submission of form and policy activation. The policy gets authorized at the point of sale itself.
It covers medical expenses incurred as an inpatient in a hospital. Pre and post hospitalisation expenses are covered with a ceiling imposed on maximum claim amount. It also covers Ayurveda, Unani, Sidha and Homeopathy treatments. Hospitalisation expenses of organ donor and day care procedures which do not require a 24-hour stay in a hospital due to technological advancement are also covered. It must be noted however that co-payment clause applies to all the covered expenses, according to which a policyholder has to pay 15 per cent of each admissible claim and insurance company will pay the remaining.

Pros

It covers pre and post hospitalisation expenses as well.
In addition to allopathic treatment, it covers traditional forms of treatments such as Ayurveda, Unani, Sidha and Homeopathy, jointly known as 'Ayush'.
Policyholder enjoys a loyalty discount of 5 per cent at the time of renewal.
Family discount of 10 per cent is applicable if two or more members are insured simultaneously.
Sum Insured enhancement is permitted at subsequent renewal.
Premium paid under this policy qualifies for deduction under section 80D of Income Tax Act.

Cons

It does not provide for emergency ambulance.
There is a capping on room rent for each sum insured level.
Pre and post hospitalisation cover is capped too.
Cover for 'Ayush' treatment is capped at certain percentage of sum insured.
There is a co-payment clause where policyholder has to bear a certain percentage of every single claim under the policy.

Our View

A low cost policy offering narrow coverage. Most of the benefits are capped to certain percentage of sum insured. It may act as a starter policy for young individuals only if budget restrains to buy a more inclusive policy. Once policyholder feels the need of an enhanced cover, the option to shift to another more comprehensive policy may be exercised. Do not get swayed by low policy premiums as the policy offers lesser features as compared to other health policies. Above all, a co-payment clause of 15 per cent on each claim acts as an impingement.