Read best Apollo Munich Optima Restore (OR) Review Online
A healthcare plan is indispensable in current times. A healthcare plan can help save your piggy bank when an emergency arises. Apollo Munich OR plan differs from the other health insurance policies. It offers several unique benefits such as the multiplier benefit.
Read on to know more about Apollo Munich Optima Restore review.
Features of the Plan
As a part of the Apollo Munich Optima Restore review, the key features of the plan are highlighted below:
• This plan offers health insurance coverage from the age of five
• The maximum age limit for entry is 65 years
• The policyholder can choose to extend the benefits of the policy to his child after 91 days of the child’s birth
• If two members or more from the same family are covered under a single policy, a 10% discount can be availed by the policyholder
• The policy can be divided into two terms: One year and Two Years
• The policy also covers the cost incurred by home treatments
• This plan offers renewability for a lifetime
• With this scheme, the policyholder can avail a restore benefit of up to 100% of the total sum insured
• The no claim bonus offered is up to 50% of the sum insured
Apollo Munich Optima Restore review- The Unique Benefits Offered
As the name suggests, the restore benefit is unique to this plan. The other advantage offered is the multiplier benefit.
(i) Restore Benefit of OR health insurance plan
As per this policy, in case of exhaustion of the total sum assured, the whole amount is replaced back into the policy. This replacement does not involve any extra cost. This Restored amount can be used for a claim in the future for a different type of illness in the same policy year.
However, this benefit is applicable only to the following conditions:
• If the whole amount of the assured sum is exhausted
• The second claim should be made for a different disease, not related to the first one for which the claim was made
(ii) The Multiplier Benefit of the OR health insurance plan
The other benefit that is unique to this Apollo Munich Optima Restore review plan is the multiplier benefit. As per this plan, for every claim free year, there is a significant increase in the basic sum assured that is up to 50%. This is the no claim bonus feature of the plan.
If no claim is made for two full years, at the end of the second policy year, the no claim bonus increases to 100%. This equates to double the basic sum assured.
In case the policyholder makes a claim, the no claims bonus gets reduced. The no claims bonus will, therefore, be 50% of the basic sum insured. This does not mean a reduction in the total sum insured as per the policy plan. The total sum insured will remain the same.
Apollo Munich Optima Restore review- The Benefits of the Health Plan
The other added benefits of the health plan include:
• This plan covers almost all types of treatment like pre-hospitalization and post-hospitalization apart from day care procedures, domiciliary treatment, and inpatient hospitalization.
• A lifelong renewal helps you stay insured always.
• There will be no loading on renewal premiums once the claim is made
• According to this plan, there will be no sub-limits required on hospital room rent or co-pay.
• Once the claim is made, there will be no loading requires on the renewal premiums
• Cashless treatment can be availed in 4000 hospitals across 800 cities in India
• The premium paid by the policyholder is eligible for tax benefits
• During policy renewal, the total sum of the capital insured can be enhanced
Apollo Munich Optima Restore review- Family Floater Option
In the family floater plan, any number of family members of the policyholder’s immediate family can be covered. Therefore, a policyholder’s spouse, children, and parents can be covered under a single policy.
You may like to read : Apollo Munich Optima Restore Plan – Get Features & Check Reviews
A policyholder has the freedom to terminate the policy anytime. Termination requires a written notice given 15 days before the intended date. On termination, if a claim has not been made on the policy, a refund will be done on a percentage of the premium.
Free look Period
If a policyholder is not happy with the coverage or any of the terms, he can cancel the policy within 15 days, once he receives the policy documents.
Apollo Munich Optima Restore review
It is a great policy with great coverage options and unique features.