Apollo Munich Optima Cash Review
Plan Name: Optima Cash
Insurer: Apollo Munich Health Insurance Company Limited
Category: Health Insurance
Objective: Ensure good healthcare services of your preference
Major USP of Maxima Health:
- Provides daily cash for both medical and non medical expenses incurred during hospitalization
- No pre policy checkup
- Less paperwork
- No medical bills required for claim
What benefits does Maxima Health offer?
Hospital Cash: Optima Cash provides the policyholder with daily cash when he is hospitalized for more than 24 hours due to sickness or accident. The daily cash amount available with Optima Cash is Rs 1000, 2000, 3000. The policyholder will get twice the daily cash in case insured is admitted in Intensive Care Unit (ICU).
Day Care Procedure Cash: Optima Cash also provides cash equal to 50% of daily cash amount if the insured undergoes any of the listed 10 day care procedures.
Convalescence Cash: If insured is hospitalized for more than 7 days, a lump sum amount as per the plan opted is payable once a year.
Joint Hospitalization: If two or more insured person gets hospitalized together due to accident, twice the daily cash will be paid subject to conditions in the policy.
Child Birth+: Twice the daily cash is paid if the female is insured in case of child birth.
Parent Accommodation: If the insured child is less than 12 years old and hospitalized for more than 24 hours, daily cash amount is paid for parent’s accommodation.
Tax benefits: You can avail tax benefits under Section 80D to maximum amount of Rs 15,000. For senior citizens, the maximum amount is Rs 20,000.
Discounts on Optima Cash:
- Buy Optima Cash online to avail discount of 5% on published tariff.
- Family discount of 10% if two or more people are included under same policy
- Further discount of 10% on opting for two year policy
What is not covered in Apollo Optima Cash?
- Any illness diagnosed within 30 days of inception of policy is not covered, however accidental injuries will be covered
- Pre existing conditions
- There is 2 year waiting period for particular diseases like cataract, hernia, joint replacement, hydrocele etc
- War or related activities
- Any epidemic recognized by World Health Organization (WHO)
- Self inflicted injuries
- Abuse of intoxicant things like alcohol or drugs
- HIV, genetic disorders and related diseases
- Cosmetic treatments or plastic surgery
- Non allopathic treatments
- Dental treatments
- Mental Disorders
There are few more exclusion’s which can be verified from the policy document.
Who can buy Optima Cash?
Optima Cash can be bought by anyone aged from 5 years to 65 years. Children above 91 days can be covered if either of the parents is covered under same policy. The cover terminated at age of 66 for annual policy and 67 for two year policy. Both individual and family floater plans are available in Optima Cash.
How much premium for Optima Cash?
For person aged 20 years, who takes daily cash of Rs 3000, Optima Cash premium would be Rs 4090 including tax.
Policybazaar view on Apollo Munich Optima Cash:
Optima Cash is a completely singular plan. Optima cash provides daily cash as chosen by you for the miscellaneous expenses borne by you. If a person is hospitalized, it’s no surprise that expenses never seem to end. Optima Cash solves that problem by providing daily cash not only during hospitalization but also for day care procedures. However Optima Cash does not replace regular health insurance plan in any way as its purpose is providing handy cash not the high expenses required for doctor’s procedures and operations.
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