Apollo Munich Health Insurance Company is a joint venture between two reputed companies – Apollo Hospitals Group and Munich Health. Both of these companies have a good reputation in the health industry. These companies collaborated together to form Apollo Munich Health Insurance Company which is a standalone health insurance provider in India. Apollo Munich offers a range of health insurance plans which offer a good scope of coverage to policyholders.
Here are some highlights which set Apollo Munich apart from other health insurance providers in India –
Health insurance plans offered by Apollo Munich offer various benefits which are as follows –
The standalone health insurance company, Apollo Munich Health Insurance Company Limited tied up with the public sector bank Canara Bank on 7th October, 2013 to sell health insurance products of Apollo Munich from the bank’s branches for the bank’s customers. This is a group health insurance policy which is available only for Canara Bank account holders. Let’s understand which policy is offered as Apollo Munich Canara Bank health insurance plan and understand its features in details –
Apollo Munich’s most popular health insurance plan, Easy Health, is offered as a group health insurance plan to the account holders of Canara Bank. Here’s a look at the policy in details –
Features of Apollo Munich Canara Bank Easy Health Group Insurance Plan
This plan being a Group Health Insurance Plan from Apollo Munich Health Insurance for all customers of Canara Bank, all advantages of availing a Group Health Insurance Plan is available.
The most important benefits of a Group Plan over an Individual Health Plan is:
Along with the other regular benefits of all indemnity health insurance plans
The regular feature of Apollo Munich Canara Bank Easy Health Group Insurance Plan include:
Easy Health Group Insurance Plan offers a range of coverage benefits which are mentioned below –
If the policyholder is hospitalised for 24 hours or more, the costs incurred on such hospitalisation would be covered under the plan. Coverage is allowed up to the sum insured and the costs covered include room rent, hospital room rent, ICU charges, doctor’s fee, surgeon’s fee, etc.
If expenses are incurred before the insured is hospitalised, such expenses would also be covered under the policy. Pre-hospitalisation expenses are covered for 60 days before hospitalisation.
When the insured is discharged from the hospital, medical expenses are incurred in monitoring the recovery. Such expenses are called post hospitalisation expenses and they are also covered under Easy Health Group Insurance Plan up to 90 days before hospitalisation.
Procedures which do not require hospitalisation for 24 hours due to advancements in the field of medicine are called daycare treatments. These treatments are covered under the policy up to the sum insured.
This cover is inbuilt under the plan and it covers accidental deaths and permanent disablements. If the insured dies in an accident or becomes permanently and totally disabled, a lump sum benefit is paid which is equal to the sum insured of the policy.
Organ transplant surgeries and the cost of harvesting the organ from a donor are also covered under the policy.
The costs incurred in arranging for an ambulance to take the insured to the hospital are covered up to INR 2000 per instance of hospitalisation.
If the insured takes treatments at home due to non-availability of hospital beds or because he cannot be moved to the hospital, such expenses would also be covered under the policy. Coverage for domiciliary treatments is allowed up to the sum insured.
Policyholders can claim a daily cash benefit if they choose a shared accommodation in the hospital or for accompanying a minor child. The daily cash benefit is INR 500 per day of hospitalisation.
Treatments taken using non-allopathic courses of medicine like Ayurveda, Unani, Siddha and Homeopathy are covered under the plan. Coverage for such treatments is allowed for up to 5% of the sum insured.
Free annual health check-ups can be availed by insured members. The extent of coverage for health check-ups would depend on the sum insured selected. It would be as follows –
Free health check-up limit
INR 1 lakh
INR 2 lakhs
INR 5 lakhs
INR 7.5 lakhs
INR 10 lakhs
Besides the above-mentioned benefits, the plan also offers value-added coverage benefits like access to a wellness portal, healthline access, discounts at pharmacies and diagnostic stores, etc.
The policyholder gets the benefit of income tax benefit for the premium payment upto INR 25,000 under section 80D.
Easy Health Group Insurance Plan also offers an optional Critical Illness Cover rider. This rider covers specified illnesses. If the insured suffers from any of the covered illness, a lump sum benefit of INR 50,000 would be paid.
Easy Health Group Insurance Plan also has exclusions in which case the claim would not be paid. Common exclusions under the policy include the following –
The entire list of exclusions would be specified on the policy document.
Adults – 5 years to 69 years
Children on an individual basis – 5 years onwards Dependent children on floater basis – 91 days to 25 years
Members who can be covered
Accountholder, spouse, dependent children, parents and parents-in-law
INR 1 lakh, INR 2 lakhs, INR 5 lakhs, INR 7.5 lakhs and INR 10 lakhs
Term of the plan
Waiting period for pre-existing illnesses
The premium for the policy depends on the type of policy that you are buying (individual, family floater or parents plan), the sum insured selected and the place of purchase. Premiums are higher in metropolitan cities and lower for the rest of India. Here are the sample premium rates for Easy Health Group Insurance Plan if the sum insured is taken to be INR 5 lakhs –
Type of plan
Premium in metro cities
Premium in rest of India
Any account holder of Canara Bank can buy the policy by paying the premium. You would just have to select the type of policy that you want, pay the premium and you would be covered.
Since this is a group health insurance plan, renewals are automatic. After every 12 months, the policy can be renewed by paying the premium.
In case of a claim, you should follow the below-mentioned steps –
The documents which would be required for settling your health insurance claims would be as follows –
Easy Health Group Insurance Plan is a good policy which has uniform premium rates irrespective of age and offers an inclusive scope of coverage. Canara Bank customers can benefit from this policy and can buy the policy covering not only themselves but their family members too.
No, accountholders of Canara Bank would have to voluntarily opt for coverage under the policy if they want to be covered.
The account holder buying the policy would have to pay the premium of the plan.
No, a master policy is issued covering all the account holders of Canara Bank who have enrolled themselves under the plan.