One cannot deny that it is becoming very difficult to pay for rising medical treatment expenses. It is going to be a matter of concern as many people have to face financial hardships for paying for these expenses. The only way out of this problem is healthcare coverage. It is the only tool that makes medical treatment accessible and affordable for the people. It is one of the growing necessities that have occupied an important position in the life of a person.
There are many Indian families that have become victims of rising medical expenses, as it becomes difficult to settle hefty medical bills when someone in the family meets an accident or comes across any serious disorder. These situations lead to various problems in life not only for the person but for other members of the family, who have to hunt for money at the eleventh hour.
An ideal way to deal with these issues of life is to buy health insurance that offers the required coverage to people and make medical treatment easy. An individual need not have to give away the saved money, which can be used for other purposes.
There are numerous healthcare coverage plans available in the market. One should look for a comprehensive plan that could offer wide coverage at a reasonable price. Market investigation shows that Easy Health is one such pure health insurance product that has grabbed a 5-star rating, when different health insurance products in India were compared on the basis of their coverage limits and the premium charged. This plan is brought by Apollo Munich, a joint venture between the Apollo Group of Hospitals, the leading chain of hospitals in Asia and Munich Re, new business segment of Munich Health, leading insurers in Germany. The company has turned up in the Indian health insurance market to offer innovative healthcare solutions to the Indian citizens. It has brought a large variety of medical insurance products to offer complete coverage to people’s medical needs.
Easy Health, a 5-star rated product, offers coverage to inpatient treatment expenses, pre- and post-hospitalization expenses, day-care procedures, domiciliary treatment, health check-up, and many other beneficial features. This plan is available in three variants, Standard, Exclusive and Premium, each of which have their own unique attractions.
The plan pays in-patient treatment expenses and is designed to cover boarding and lodging, anaesthesia, diagnostic procedure, surgical appliance, intensive care unit, operation theatre, cost of prosthetic and other equipments and devices (if implanted internally during surgical operation), medical practitioner charges, drugs, and other medical procedures as per the policy’s terms and conditions. These variants fulfil the health needs of people of different sections of society. They give a person the option to choose the sum insured or the cover amount in the range of Rs.1 Lac to Rs.10 Lac, as per an individual’s needs and budget. The Premium variant offers the maximum coverage.
A person buying Exclusive or Premium variant gets an option to choose coverage for maternity expenses that offers the insured person a lump sum amount in an event of the birth of a child. A person gets a certain amount, which depends upon whether the birth is through Caesarean Section or normal delivery. This amount also includes a certain amount for pre- and post-natal expenses.
A person buying any of these two variants also gets an option to choose additional coverage for eight enlisted critical illnesses. These are first heart attack, cancer, sclerosis, renal failure, major organ transplantation, paralysis, coronary artery surgery and stroke. Both these optional maternity and critical illness benefits can be opted for on payment of a small extra premium.
Furthermore, there is a facility of lifelong renewal that gives customers an opportunity to enjoy health cover for the entire life by renewing their policies regularly. Apollo Munich also offers some value-added services with this plan that offers coverage to preventive health needs. These include Cashless Hospitalization and Healthline.
The Healthline is a medical helpline where customers can call and seek doctors’ advice on health issues. Cashless Hospitalization has made inpatient medical treatment accessible for insured people, who can visit any network hospital for treatment, where medical bills are directly settled by the insurer. One need not have to pay for the medical treatment costs and at the same time, stays away from the tedious claim process.
This plan, if purchased with Optima Cash, the top-up plan, completes the coverage offered to an insured. Optima Cash is a daily cash hospital benefit plan that pays per day lump sum money to an insured, in an event of hospitalization.
This lump sum payment made depends upon the number of days an insured is hospitalized and the terms and conditions of the plan. A policy holder is asked to choose the daily cash amount, which may be Rs. 1000, Rs. 2000 or Rs. 3000. This daily cash amount is then multiplied by the number of days an insured is hospitalized and given to him/her.
Optima Cash offers cover for additional hospitalization expenses. There are many extra expenses that are incurred when a person is hospitalized. These include laundry bills, transportation costs, food costs, etc. All these bills can be paid using this hospital cash benefit plan. This plan has nothing to do with treatment expenses. It just pays a lump sum amount for the number of days an insured is hospitalized irrespective of the kind of treatment.
This policy can be issued either on an individual basis or on a family basis. A family includes self, spouse and dependent children. The entry age limit is from 5-65 years with cover ceasing age at 66 for 1 year policy and 67 for 2 year policy.
Apollo Munich thus ensures that the Easy Health Plan, when purchased with Optima Cash provides all-round coverage.