Apollo Munich's new add-on cover takes care of overseas treatment

MUMBAI: A new add-on cover now provides buyers of Apollo Munich Health Insurance company’s policies the option of availing treatment overseas for eight ailments such as cancer, heart ailments or organ transplants.
While there have been plans from other insurers covering overseas treatment earlier, these have been expensive covers targeting the rich.The "Critical Advantage" rider offered by Apollo Munich covers overseas expenses up to Rs 3 crore on a premium of less than Rs 9,000 for a 35 year old and also covers the travel and accommodation cost of a family member.
Earlier policies which cover would cover cost of treatment abroad typically had a sum insured of Rs 15 lakh to Rs 1 crore and the premium would be in excess of Rs 40,000. Apollo Munich’s cover, while much cheaper is subject to two major conditions. First it is a "rider", a term used to describe an optional add-on cover that can be only bought if there is an underlying health insurance policy. In the case of Apollo Munich, the underlying policy has to be either of two health policies sold by the company — "Easy Health" or "Optima Restore".
This overseas treatment option is available only for those who have an underlying policy with a sum insured of at least Rs 10 lakh. Second, the rider for overseas treatment covers eight named ailments; neurosurgery, cancer, coronary artery bypass surgery, heart valve replacement/repair, live donor organ transplant, pulmonary artery graft surgery, aorta graft surgery and bone marrow transplant.
A statement issued by the company said that there are about 28 lakh cases of cancer at any point of time in the country and that there has been an estimated increase of 40% of cardiovascular diseases cases in last 10 years.
“There are some instances when Indians choose to travel abroad for medical treatment and the costs associated with medical care, as well as travel, and accommodation for the accompanying family members is a big concern. At Apollo Munich, we will not only assist policyholders in determining the best healthcare facility abroad for the treatment they seek, but will also help arrange accommodation and travel tickets for both the insured and the family member travelling abroad. The Critical Advantage rider is a very friendly cashless cover, without any co-pay clause or sub-limits, to opt for planned treatment abroad,” said Antony Jacob, CEO, Apollo Munich Health Insurance.
The Critical Advantage rider is offered on an individual basis and has two variants — $250,000(Rs.1.5 crores approximately.) and $500,000 (around Rs. 3 crores). Premium for $250,000 sum insured policy for a 35-year-old is Rs 7,767 while for a $500,000 sum insured, it is Rs 8.947.