• Apollo Munich Optima Cash Health Insurance Plan

    Car Insurance
    • Premiums as low as Rs12/day for coverage of Rs.4 Lakhs*
    • 10,000+ hospitals for cashless treatment
    • Claim up to Rs. 55,000 deduction under section 80D**

    Health insurance plans are developed to provide financial security during a time of hospitalisation. While regular health insurance plans take care of your medical bills, they do not provide any coverage for additional expenses related to food, travel, and personal comfort. This is where a daily hospital cash policy comes in handy. It provides a fixed amount for every single day of your hospital stay without seeking any proof on how you spend that money. Apollo Munich Optima Cash is one such daily hospital cash policy that you can take to supplement your health insurance cover.

    Eligibility for Apollo Munich Optima Cash

    Apollo Munich Optima Cash is available for those who meet the following eligibility criteria:

    • This policy is available for anyone with entry age between 5 years and 65 years.
    • Dependent children between the age of 91 days and 5 years can avail this cover if either of the parent is covered under this policy.
    • Up to 6 family members can be covered in the same policy including spouse and dependent children.
    • The cash benefit under this cover is available only on an individual sum insured basis.
    • Optima cash is a lifelong policy that can be renewed throughout one’s life.

    Features of Apollo Munich Optima Cash

    Some of the notable features of Apollo Munich Optima Cash Policy can be listed as follows:

    • This policy is available in 3 daily cash options: Rs.1,000, Rs.2,000, and Rs.3,000 per day.
    • The initial waiting period (except for accidental hospitalisation) under this policy cover is 30 days.
    • Pre-existing illness can be covered after a waiting period of 48 months.
    • There is a 2-year waiting period for certain illnesses like hernia, hydrocele, cataract, joint replacement surgery, etc.
    • This policy is available in 1 or 2-year policy terms. The 2-year coverage under this policy comes with a 10% discount.
    • If 2 or more family members are enrolled in this policy, a family discount of 10% is available under this hospital cash policy.
    • There is no need for pre-policy medical examination under this policy cover. Also, policyholders don’t have to submit any medical bills while subscribing to this cover.
    • When you buy this policy online, you can get an additional discount of 5% on the premium charges. For people over 45, online purchase option is not available.
    • The sum insured amount (daily cash benefit) chosen at the time of enrollment can be enhanced during the time of renewal.
    • As per Section 80D of the Income Tax Act, the premium charges paid for this policy cover is eligible for income tax relief.
    • As per the IRDAI regulations, a grace period of 30 days is available under this policy cover to renew it after the date of expiry.
    • Apollo Munich offers portability option for people who wish to transfer their policy from another insurer without losing out on any benefits.

    Benefits of Apollo Munich Optima Cash

    The benefits available under Apollo Munich Optima Cash can be listed as follows:

    Benefits Extent of Coverage
    Daily hospital cash for sickness hospitalisation (for every 24 hours completed) Chosen cash benefit for up to 90 days per policy year
    Daily hospital cash for accidental hospitalisation Chosen cash benefit for up to 90 days per policy year
    ICU admission cash benefit (sickness or accident) Twice the chosen cash benefit for up to 15 days
    Day care benefit (any of the 10 listed procedures that do not require 24 hours of hospitalisation) 50% of the chosen sum insured for a period of 6 days
    Joint hospitalisation (if 2 or more insured people are hospitalised after an accident) Twice the chosen sum insured amount for up to 10 days
    Convalescence benefit Lumpsum amount payable if the hospitalisation exceeds 7 days
    Child birth (after a 2-year waiting period) Lumpsum benefit equivalent to twice the daily cash benefit (payable twice during lifetime)
    Parent accommodation Additional daily cash for up to 30 days (if the insured is less than 12 years of age)

    Exclusions of Apollo Munich Optima Cash

    Some of the major exclusions listed out under Apollo Munich Optima Cash policy can be listed as follows:

    • Actual medical expenses incurred by the policyholder
    • Congenital diseases or birth defects
    • Any kinds of cosmetic or aesthetic treatments
    • Expenses related to weight loss treatments and obesity treatments
    • Injuries caused by war, invasion, nuclear activity, radiation, etc.
    • Dental treatment unless caused by an accident
    • External medical aids and appliances
    • Treatment costs for mental disorders or insanity
    • Experimental or investigative procedures
    • Hospitalisation caused by drug or alcohol abuse
    • Medical costs related to HIV or AIDS treatment
    • Any non-medical expenses including items of personal comfort

    Claim Procedure

    During the time of hospitalisation, the insurer must be intimated immediately. Planned hospitalisations must be informed 48 hours before hospitalisation, and emergency hospitalisations must be informed within 24 hours of admission. Based on the number of days the insured is admitted in a hospital, the cash benefit will be provided. Following discharge from the hospital, the insured must file for the claim along with various documents like medical bills, cash memos, discharge summary, physician certificate, etc. After the verification of the submitted documents, the company will provide the benefit amount.

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