Health insurance is one of the growing sectors in India. Healthcare statistics shows that the numbers of individuals using medical insurance in the country are rising, but yet, there are many individuals paying their medical expenses from their pockets.
Research done on last year healthcare figures showed that around $57 billion of medical expenses are paid from pocket. Why are so many people not buying health insurance to pay their hefty medical bills? Whatever would be the cause behind the same, the immediate need is to encourage the uninsured people to buy these such that quality healthcare treatment could no more be the cause of monetary strain over them.
In the effort to improve healthcare in India, insurance providers have started recognizing health needs of the citizens and devise products accordingly to make sure that they get the required protection. It is simply because people would buy those products that they would find useful. Keeping it in mind, product designers at Apollo Munich, a standalone health insurer, has launched new products, first of its kinds in the Indian health insurance market. Optima Restore is one such product that has brought unique and unbelievable medical insurance benefits for its clientele.
There are many people who use their cover amount in the middle of the year and then, pay from their pocket, if ever they fall ill in the same year. Optima Restore reinstates the basic cover amount, if an insured exhausts the entire sum insured amount. If an insured falls ill and uses up coverage in an individual policy for the treatment and then later in the same year, falls ill with another illness, his/her entire cover amount gets restores at without any extra charge. Similarly, it holds true in family coverage. If someone in a family gets sick and uses up the coverage and later, another member of a family falls ill during the same policy period, the whole amount is restored without paying anything extra.
This benefit facilitates an insured to live life to a greater extent without any anxiety for medical expenses, even if he or she uses the entire amount.
The restore benefit, stated above, comes with a never before renewal incentive. If a policy holder does not use the policy i.e. if the claim is not made in the whole year, the basic sum insured amount increases by 50% as no claim bonus. For the second consecutive claim free year, the cover amount increases to 100% of the basic sum insured amount with no increase in the premium amount. Thus, one gets the coverage of double the sum insured amount in the same premium.
Optima Restore comes with several more benefits that demystify healthcare. The plan is formulated to genuinely care for its clients. The other benefits of this plan are as follows:
Lifelong Renewal - Optima Restore gives an option to its customers to choose a policy period of either 1 or 2 years. Thus, an insured renews it accordingly till the whole life, as there is a facility of lifelong renewal, which allows an insured to enjoy coverage for the extended time.
No Sublimit on Room Rent - A policy holder gets a freedom to get the room, one desires and the treatment that he/she needs without any hassle.
Cashless Transaction - Optima Restore offers the facility of Cashless Hospitalization in enlisted hospitals for the covered perils. Apollo Munich gives its Optima Restore customers the privilege to enjoy this coverage across 4000 hospitals in over 80 cities.
Certified Associates - Apollo Munich has tied up with certified associates such that customers are guaranteed of the services provided; whether they are sales executives and field partners.
No Geography based Sub-limits - Optima Restore customers can seek treatment in any hospital or in any city of the country with no extra co-pays or sub limits, regardless of from where a person’s buys a policy.
No claim based loading - There is no loading of renewal premium, if an insured falls sick after taking a policy.
Quick Turnaround Time - The Company follows speedy and clear process systems. There are no delays in pre-authorization and approvals. 90% of pre-authorizations are done within 2 hours.
Easy Upgrade - Optima Restore can easily be upgraded to the next slab at the time of renewal without the involvement of any long process.
Speedy Claim Settlement - Apollo Munich settles claim without any delays to helps it customers. A policy holder gets the amount of genuine claim filed within the specified number of days.
Tax Benefits - An insured can avail tax benefits for the premium amount paid under Section 80 D of the Income Tax Act.
Easy Portability - It also offers easy portability. A person using any other medical insurance plan can shift to Apollo Munich with all accrued benefits and enjoy all unbelievable benefits of Optima Restore.
Optima Restore is an exclusive plan that offers extensive coverage to an insured at cost-effective price. The maximum entry age of this plan is 65 years and thus, it can be bought by an Indian citizen who is less than 65 years of age. The minimum entry age for this plan is 91 days. If it is to be purchased for children below 5 years, both parents need to be insured under this policy. The policy period can be 1 or 2 years, thereafter which it is to be renewed. A special discount of 7.5% on the premium amount can be availed, by a person opting for 2 years of risk period. One can buy this plan either on individual basis or on family basis. A family includes spouse, dependent children and dependent parents.
Thus, its unbelievable benefits offer better coverage to seek quality medical treatment without any financial strain.