Apollo Munich Health Insurance Company Ltd is a joint venture between one of the largest integrated healthcare providers across Asia, Apollo Hospitals, and the health business division of Germany-based Munich Re, Munich Health. Apollo Munich began operations in India in 2007, aiming at providing high-class healthcare services to the common man of the country. The company proposes a wide range of insurance products, specifically designed to meet the healthcare requirements of an individual.
Key Features |
Highlights |
Network Hospitals |
4500+ |
Incurred Claim Ratio |
62.47 |
Renewability |
Lifelong |
Waiting Period |
3 years |
The increasing cost of medical treatment at the hospital has led to the increasing demand for health insurance plans. The existing lifestyle of an individual makes them more prone to diseases and illnesses, which further results in growing chances of one’s sickness. This is where Apollo Munich Health Insurance company ltd provides you an optimal solution. Fêted as one of the most trusted health insurers in Indian Insurance Sector, Apollo Munich offers a wide gamut of health insurance plans with many advantages and benefits to fit every budget and requirement. The company endeavors to make high-quality healthcare services easily accessible to every member and customer. In addition, the company also offers simple and clear policy wording in order to make the procedure transparent and convenient for policy seekers. It wouldn’t really be an exaggeration to say that Apollo Munich has made health insurance pretty simple for everyone, over the decades of its operations.
Apollo Munich Health Insurance has bagged a couple of awards in the past years.
Apollo Munich Health Insurance Company Ltd strives to become a trusted leader in the health insurance industry; it provides simple yet innovative solutions for health insurance. Apollo Munich provides a vast array of health insurance plans that caters to individuals, families, senior citizens, and corporate houses as well. The company’s motto is ‘Let’s uncomplicate’, which shows its focus on providing effective yet simple solutions for every healthcare need. It has even been awarded the title of ‘Health Insurance Company of the year’. Given below are the advantages of buying health insurance Policies from Apollo Munich:
Apollo Munich Health Insurance Plans | Minimum Age at Entry | Maximum age at Entry | Minimum Sum Assured | Maximum Sum Assured | Waiting Period | Renewability | Hospitalization Expenses |
Apolli Munich Optima Restore - The unbelievable health plan | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 3, 00,000 | 50, 00,000 | 3 years (can be reduced to 1 year on continues renewals) | Lifetime | Pre: up to 60 days; Post: up to 180 days |
Apollo Munich Energy - The Sweetest thing for people living with diabetes | 18 years | 65 years | 2, 00, 000 | 50, 00,000 | N/A | Lifetime | Pre: up to 30 days; Post: up to 60 days |
Apollo Munich Easy Health - Our plan for young family | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 1, 00,000 | 50, 00,000 | 24 months for surgical procedures and 36 months for pre-existing diseases | Lifelong | Pre: up to 60 days; Post: up to 90 days |
Apollo Munich Easy Health - Our premium plan | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 1, 00,000 | 50, 00,000 | 24 months for surgical procedures and 36 months for pre-existing diseases | Lifelong | Pre: up to 60 days; Post: up to 90 days |
Apollo Munich Easy Health - Our most popular Plan | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 1, 00,000 | 50, 00,000 | 24 months for surgical procedures and 36 months for pre-existing diseases | Lifelong | Pre: up to 60 days; Post: up to 90 days |
Apollo Munich Optima Cash - Daily hospital cash plan | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | N/A* | N/A* | 48 months for pre-existing diseases (can be reduced to 1 year on continues renewals) | Lifelong | Cash amount payable on completion of 24 hours |
Apollo Munich Optima Cash - A Top-up plan | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 5, 00,000 | 5, 00,000 | 48 months for pre-existing diseases (can be reduced to 1 year on continues renewals). 12 months for diseases like hernia, joint replacement, cataract etc. | Lifetime | Pre: up to 60 days; Post: up to 90 days |
Apollo Munich Maxima - Our comprehensive plan that covers for the little illness too | 5 years (newborn: 91 days subject to a parent getting insured) | 65 years | 3, 00,000 | 3, 00,000 | 48 months for pre-existing diseases (can be reduced to 1 year on continues renewals). | Lifelong | Pre: up to 30 days; Post: up to 60 days (can be increased to 60 and 90 days respectively |
Apollo Munich Optima Super - Aggregate Top-up plan | 5 years (newborn: 91 days subject to a parent getting insured | 65 years | 5, 00,000 | 10,00,000 | 48 months for pre-existing diseases (can be reduced to 1 year on continues renewals). | Lifelong | Pre: up to 60 days; Post: up to 90 days |
Apollo Munich Optima Vital - The critical illness plan | 18 years | 65 years | 1, 00,000 | 50, 00,000 (20, 00,000 if age>55 years) | 48 months for pre-existing diseases (can be reduced to 1 year on continues renewals). | Lifelong | N/A |
The Apollo Munich Health Insurance company Ltd proposes a wide range of health insurance plans. Below is the list:
Now let’s have an overview of each plan:
The Health Wallet Individual Insurance policy by Apollo Munich has some add-on benefits such as restore benefit, which reinstate the basic sum assured if the policyholder exhaust it in the term of the policy and multiplier benefit that rewards him/her for each claim free year automatically.
Sum Insured | Rs. 3 to Rs. 50 Lakh with Reserve Benefits |
Renewability | Lifetime renewability |
No Claim Bonus | Up to 50% every claim free year |
Day care procedures | All day care treatments get covered |
Co Payment | NA |
Apollo Munich Plan | Entry Age | Sum Insured Range | Discount on premium | Co-Payment | Policy Term |
Individual plan | Minimum – 91 DaysMaximum - 65 years | 3 Lakhs to 50 Lakhs | 10 % for more than two members | Not Available | 1 to 2 Years |
Family floater plan | Adults- 18 years and 65 yearsChildren- 3 months and 25 year | INR 3,00,000 to INR 50,00,000 | All the members are covered under single premium | Not Available | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Co-Payment | Policy Term |
Family Floater plan | Children- 3 months to 25 yearsAdults- up to 65 years | Rs. 4 Lakhs to Rs. 5 Lakhs | Additional 7.5% discount for 2 Years Premium | Not Available | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Waiting Period | Policy Term |
Individual plan | 18 Years to 65 Years | Rs. 1 Lakh to Rs. 50 Lakhs | Discount of 7.5% is given whenever you go for a 2 year policy | 30 days | 1 to 2 Years |
Apollo Munich Optima Vital Insurance Plan Eligibility:
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Co-Payment | Policy Term |
Senior Citizen Plan | 61 Years or above | Rs. 2 Lakhs to Rs. 5 Lakhs | Discount of 7.5% is given whenever you go for a 2 year policy | 15% for twin sharing room.30% for single occupancy.30% for specified Illness or surgeries 15% for day care procedures | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Co-Payment | Policy Term |
IndividualPlan | 5 Years (or 91 Days) to 65 Years | Rs. 5 Lakhs Per Person Per Year | Discount of 7.5% is given whenever you go for a 2 year policy | Rs. 1 Lakh to Rs. 5 Lakhs | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Insured | Waiting Period | Renewability | Policy Term |
IndividualPlan | 5 Years to 65 Years | Rs. 1000, Rs. 2000, Rs. 3000 on a daily basis | 30 days | Lifelong | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Co-Payment | Policy Term |
IndividualPlan | 5 Years (or 91 Days) to 65 Years | 1 Lakh to 5 Lakh | Discount of 7.5% is given whenever you go for a 2 year policy | Not available under this plan | 1 to 2 Years |
Apollo Munich Plan | Entry Age | Sum Assured | Discount on premium | Co-Payment | Policy Term |
Individual/FamilyPlan | 5 Years (or 91 Days) to 65 Years | Rs. 5 lakhs, Rs. 7 lakhs or Rs. 10 lakhs | Discount of 7.5% is given whenever you go for a 2 year policy | Rs. 1 lakh to Rs. 10 lakhs | 1 to 2 Years |
Apollo Munich Plan | Inpatient Treatment | Pre-hospitalization Expenses | Post-hospitalization Expenses | Sum Assured | Waiting Period |
IndividualPlan | In case of hospitalization for more than 24 hours | Coverage for expenses incurred before 15 days of hospitalization | Coverage for expenses incurred after 15 days of hospitalization | Rs. 50,000 to Rs. 1 Lakh | 15 Days |
Apollo Munich Dengue Care plan Eligibility:
Applicant | Number of members covered | Sum Assured (Rs.) | Premium (with taxes) (Rs.) |
A | 1 | 5 Lakhs | 7, 404 |
B | 2 | 5 Lakhs | 11, 830 |
C |
4 |
20 Lakhs (5 Lakhs each) |
22,065 |
You can make the Apollo Munich Health Insurance Renewal payment 60 days before the expiry of date. Renewal premium is based on the age of the policyholder at the time of policy renewal. There will be a 30-days grace period within which you will have to make the payment & renew your Apollo Munich health insurance policy.
If you miss renewing your policy within the grace period, then you have to buy new Apollo Munich health insurance policy. You may lose all the advantages, which accrued during the preceding policy. While renewing, you can also opt for different health policy, add and remove dependents, can change the sum assured, remove or attach rider policy, and change the term of the policy.
Health insurance plans offered by the Apollo Munich health insurance company can be applied to through multiple channels like:
Farhan Akhtar, its brand ambassador, is starring in a TVC series. With this campaign, Apollo Munich intends to highlight the benefits of its health plan that caters to the current insurance needs of the insurance buyers. Each 20-second TVC ends with the Apollo Munich‘s tag-line -‘When your health insurance pays for the unusual – you are not insured, you are winsured’.
This campaign is conceptualized by Cheil and it will be aired across traditional mediums such as television, radio, and outdoor, as well as, the new media instruments such as Youtube, Twitter, Facebook, etc.
Illnesses covered by the rider include neurosurgery, coronary artery bypass surgery, cancer, heart valve replacement and repair, pulmonary artery graft surgery, live donor organ transplant, bone marrow transplant and aorta graft surgery. The Critical Advantage Rider has two variants – $2.5 lakh (nearly Rs 1.5 crore) and $5 lakh (about Rs 3 crore). It is a cashless cover without any sub-limits and co-pay clause.
The same goes under the cashless benefit. One can buy this rider along with Easy Health and Optima Restore plan with an annual premium ranging up to 10 lakhs or greater, aiming at getting covered the cost of treatment of specific illnesses that might incur during the treatment of an ailment in the abroad. The CEO at Apollo Munich Health Insurance, Antony Jacob stated we obviously look for the best treatment for our loved ones. The cost of such treatments along with the travel expenses become a big concern for us.
Critical Advantage rider offers you cashless cover with no co-pay clause to go abroad for the treatment. The insurer also provides assistance to the policyholder in choosing travel, accommodation, and treatment in abroad. If any second opinion is required, the rider covers that too.
These plans will be processed online to maintain the paperless environment and to reduce turnaround time. Besides Axis Bank, Apollo Munich insurance has similar collaboration with Citi, Indian Overseas Bank, and Canara Bank as well to market its health insurance products to an increasingly large number of customers.
This benefit is available as a rider option with its Easy Health or Optima Restore policy of 10 lakh and above. Also, it is available for a sum assured of at least Rs 1.5 crore or Rs 3 crore. For a 35-year old the premium for the base policy along with this rider comes out to be nearly Rs 16,000. Apollo Munich Health Insurance Company’s CEO, Antony Jacob, said "While people have this fear of how to choose the best healthcare facility, they also wonder how to fund their travel cost."
After the successful completion of the deal, Munich Re will hold a stake of 48.75% in the joint venture, while Apollo Hospitals will be left with 51.1% and the remaining 0.15% with the employees. However, the transaction is projected to close by the end of the second quarter of 2016 as regulatory approvals are yet pending on the deal.
Also, with this deal, Apollo Munich Health Insurance has acquired nearly 8% share in the health insurance retail market and is providing cover to over 40 lakh people.
Pramod
Lohara, October 20, 2016Manoj
Deodar, October 05, 2016Bharat
Muktsar, October 03, 2016Tamanna
Panaji, September 28, 2016Jyotsna
Hamirpur, August 30, 2016Abhishek
Kutch_(bhuj), August 26, 2016Gaurav
Kherwara, August 23, 2016Yamanpreet
Ahmedabad, May 24, 2016MUKESH
Mumbai, March 03, 2016Raj
Delhi, February 25, 2016Mr
Sonipat, February 25, 2016Charu
Gurgaon, February 25, 2016Mr
Delhi, February 25, 2016Harish
Bengaluru, February 25, 2016Mr
Gurgaon, February 24, 2016