Optima Vital is a critical illness plan, which covers 37 critical illnesses against normal industry standards of providing cover for around 7 to 20 of these conditions, Apollo Munich Health Insurance said in a release issued here.
Another plan, Optima Super, caters to the need of having a low cost cover while one is employed and can be switched to a full-fledged plan at the time of retirement or when the need is felt, without the fear of rejection.
"Given the increased stress levels and changing lifestyles, Indians are encountering critical illnesses more than ever before. Not only the incidence rate of such diseases is increasing, the number of critical illnesses is also on a rise. Hence, there is a need for a one stop shop plan that covers all the major critical illnesses to help reduce the financial trauma related to critical illnesses," Apollo Munich Health Insurance CEO Antony Jacob said.
Optima Vital customers are given the option of taking e-opinion from Apollo Munich's panel of doctors, as and when required by them, he said.
"This is an inbuilt benefit and comes with all sum insured variants. Optima Vital offers the consumer lifelong renewal and shall terminate on first occurrence of any one of the defined critical illnesses. The entry age for the cover is 18 years, with maximum age of entry being 65 years. The policy also offers an income tax benefit," he added.
Optima Super is an aggregate high deductible plan that allows customers to enhance their sum insured coverage as per their need at a lower cost. Its customers do not have to cross the deductible limit at every claim incidence, but can aggregate all claims during a policy period over multiple hospitalisations to cross the deductible limit.
Apollo Munich is joint-venture between Apollo Hospitals Group and Germany-based reinsurance firm Munich Re.