Apollo Munich Optima Vital Critical Illness Insurance Policy

*Please note that the quotes shown will be from our partners

Apollo Munich Optima Vital Critical Illness Insurance Policy Overview:

Sudden illness and chronic diseases often strike without the faintest idea. Optima Vital insurance will pay you a lump sum amount for the 37 identified critical illness, medical events or surgical procedures. It is available also when you are being benefitted from other policies.

So this plan looks after you even in a health crisis situation.

Critical illnesses covered under the Optima Vital Critical Illness Insurance Policy:

 (The Insured Person must survive 30 days from the date of confirmed diagnosis)

  • Cancer of specified severity
  • Kidney failure requiring regular dialysis
  • Multiple sclerosis with persisting symptoms
  • End stage liver disease of specified severity
  • First heart attack of specified severity
  • COMA of specified severity
  • Major burns
  • Goodpasture’s syndrome
  • Apallic syndrome
  • Aplastic anaemia
  • Systemic lupus erythematosis
  • Bacterial meningitis
  • Multiple system atrophy
  • Progressive scleroderma

Eligibility Criteria of Optima Vital Critical Illness Insurance Policy:

  • Minimum age- 18years Maximum entry limit-65years
  • Child can be covered from 18 years to 25 years provided both parents are covered in a critical illness policy of an Indian Insurer.
  • Maximum 6 members can be added in a single policy. In an individual policy, a maximum of 4 adults and a maximum of 5 children can be included in a single policy.
  • No cover ceasing age under this policy. The policy will be issued for 1 or 2 year(s) period. The sum insured & benefits are on policy year basis.
  • This policy will be issued on individual basis only. The policy can be issued to an individual and/or family (spouse, dependent children and dependent parents).
  • The amount insured of the dependent members should be equal to or less than the sum of the primary insured member. In case where two or more children are covered, the Sum Insured for all the children must be same. Sum insured of all dependent parents must be same.

Apollo Munich Optima Vital Critical Illness Insurance Policy Benefits:

  • Plan Benefits
  • A lump sum amount is payable for the identified critical illness, medical events or surgical procedures on confirmed diagnosis and severity of the illness. The insured should also survive the defined period.
  • Other Benefits
  • E-opinion: On request of the Insured a second opinion of a medical practitioner selected by himfromour panel. This benefit can be availed once in a policy year.
  • Sum Insured Enhancement –the sum insured can be increased by the person holding the policy at the time of renewal. Waiting period is calculated afresh in such cases. The amount of the increase permitted would be decided by the company.

Annual Sum Insured Options:

  • The sum insured ranges from: Rs. 1,00,000 to Rs. 5,00,000 in multiples of Rs.1,00,000 and thereafter till Rs. 50,00,000 in the multiples of Rs. 5,00,000 .
  • Maximum sum insured available above 55 years of age for new policy is restricted up to Rs. 20, 00,000.
  • The insured can propose to apply for all sum insured available as per stated conditions applicable on age.

Policy Termination:

The policy terminates on the occurrence of the first critical illness and issuer receives the sum insured as per applicable guidelines; and the policy ceases and the issuer cannot renew, however the other insured members will continue to be covered in the policy.

Portability:

The policy offers easy transferof accrued allowances and provides due waiting period if application is made at least 45 days prior to renew date.

Free Look Period of Apollo Munich Optima Vital Critical Illness Insurance Policy:

For a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy. If you have any objections to any of the terms and conditions, you can cancel the Policy stating the reasons for shall be refunded the premium paid after adjusting the amounts spent on any medical check-up, stamp duty charges and proportionate risk premium.

Apollo Munich Optima Vital Critical Illness Insurance Renewal Policy:

  • Lifelong renewability:  No maximum cover ceasing age in this policy
  • Grace Period of 30 days for renewal.
  • Waiting periods as mentioned in the policy wording gets reduced by 1 year on every continuous renewal of your Maxima Insurance policy.
  • To make changes in benefit or premium (other than due to change in age), IRDA approval is needed.

Exclusions:

  • All treatments within the first 30 days of cover excluding accidental injury.
  • Pre-existing condition is covered after a waitingperiod of 3 years and for specific diseases like cataract, hernia, joint replacement surgeries, surgery of hydrocele etc. a waiting period of 2 years.
  • Expenses arising from HIV or AIDS and related diseases/Congenital diseases, mental disorder or insanity, cosmetic surgery and weight control treatments.
  • Hospitalization due to war/related situations.
  • Pregnancy, dental treatment, external aids and appliances.
  • Experimental, investigative and unproven treatment devices and pharmacological regimens.

Tax Benefit:

The premium amount paid under this policy qualifies for deduction Under Section 80D of the Income Tax Act.

Requirement:

  • Completed proposal form
  • Pre- Policy Check-up:
    • Pre-Acceptance Medical Tests at our network depending on the age and sum insured. Pre policy check-up is required for sum insured Rs. 6 Lacs and above and/or age group 46 years and above. 50% of the expenses incurred per insured person are reimbursed on the acceptance of the proposal. The medical reports are valid for a period of 30 days from the date of pre-policy check-up.

Discounts:

  • A 7.5% discount in case the Insured Person is paying 2 years premium in advance as single premium.

Apollo Munich Optima Vital Critical Illness Insurance Policy Premium Details:

Sum

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insured in INR

1 Lac

2 lac

3 Lac

4 Lac

5 Lac

10 Lac

15 Lac

20 Lac

25 Lac

30 Lac

35 Lac

40 Lac

45 Lac

50 Lac

Age Group

 

 

 

 

 

 

 

 

 

 

 

 

18-25

225

450

675

900

1125

2250

3375

4500

5625

6750

7875

9000

10125

11250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-30

325

650

975

1300

1625

3250

4875

6500

8125

9750

11375

13000

14625

16250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31-35

375

750

1125

1500

1875

3750

5625

7500

9375

11250

13125

15000

16875

18750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

36-40

575

1150

1725

2300

2875

5750

8625

11500

14375

17250

20125

23000

25875

28750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

41-45

950

1900

2850

3800

4750

9500

14250

19000

23750

28500

33250

38000

42750

47500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

46-50

1750

3500

5250

7000

8750

17500

26250

35000

43750

52500

61250

70000

78750

87500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

51-55

3000

6000

9000

12000

15000

30000

45000

60000

75000

90000

105000

120000

135000

150000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

56-60

4900

9800

14700

19600

24500

49000

73500

98000

122500

147000

171500

196000

220500

245000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

61-65

7800

15600

23400

31200

39000

78000

117000

156000

195000

234000

273000

312000

351000

390000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

66-70

13300

26600

39900

53200

66500

133000

199500

266000

332500

399000

465500

532000

598500

665000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

>70

29300

58600

87900

117200

146500

293000

439500

586000

732500

879000

1025500

1172000

1318500

1465000

 

*The above premium rates may vary. Please check the policy wordings for more information.