Health concerns start as person get older. During younger age normally you will not face any major health issues and mostly your employer will take care of your health insurance part. So it is important to have health cover during your retirement period. Apollo Munich recently launched new plan called “Optima Senior” to cater senior citizen’s health insurance need. Let us find what are the unique features of this plan.
Minimum entry age-61 years
Maximum age-no limit (life long cover)
Sum Assured available-Rs.2,00,000 Rs.3,00,000 and Rs.5,00,000
No claim loading or deny of coverage due to claimed or fell ill after taking policy.
Sum Assured may be enhanced without further medical test if you have no claim.
No claim discount of 5%. Provided policy is renewed without break.
5% discount if you take policy with your spouse.
7.5% discount if you take 2 years policy.
15% in case of accommodation in a twin sharing room or lower room type. 30% in case of accommodation in a single room or higher room type. 15% in case of day care procedures.
Medical examination-Medical examination will be based on your age, sum assured opted and your health condition. 50% of expenses will be reimbursed once your proposal get accepted. Means if accepted you need to bear 50% of medical examination expenses else 100% medical expenses.
Premium chart is as below.
All treatments within 30 days of cover, except any accidental injury. Pre-existing conditions will be covered after 3 years waiting. HIV & AIDS not covered. Pregnancy, dental treatment, external aids and appliances will not be covered. 2 years waiting period for the specific diseases like cataract, hernia, hysterectomy, joint replacement, hydrocele etc.
Positive points to consider for buying this product-
1) Life long cover. So if anybody wishing to opt after their retirement then the best plan.
2) Compare to National Varishta of National Insurance, in this plan you can opt for higher Sum assured.
3) No sub limits on room rent and ICU.
4) Pricing is ideally matching with features compare to National Varishta and Star Red Carpet (because these two plans looks cheaper than any other available senior citizen health plans). Even though Star Carpet looks cheaper but co-pay, sub limits on treatments and loading on claims may cost you more in future than this plan.
5) If you are healthy without any major health diseases then it is best plan to opt for early entry.