Apollo Munich Health Insurance vs Cholamandalam Health Insurance

The search for a health insurance plan can be daunting given the variety of plans on offer and the fast pace of today’s lifestyle, creating scarcity of time. What you need is a reliable informational gateway to different health insurance policies to find the right one within minutes. Here is a comparative study of the health plans from leading insurers like Apollo Munich Health Insurance and Cholamandalam Health Insurance to help with your selection. 

Apollo Munich Health Insurance vs Cholamandalam Health Insurance – Overview 

Parameter Apollo Munich Health Insurance Cholamandalam Health Insurance
No. of health insurance policies 10+ 10+
E-services Policy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer service Policy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 call assistance
Branches 100+ 136
Claim settlement ratio (CSR) 92% 50.01%
Cashless claim settlement time Within 20 minutes  Timeline not specified
Network Hospitals  10,000+ 131

*Source: The Annual Report of the Insurance Regulatory and Development Authority of India (IRDAI) –years 2018-19.

Health Insurance Policies: Apollo Munich Health Insurance vs Cholamandalam Health Insurance

Apollo Munich Health Insurance, now renamed as HDFC Ergo Health Insurance, is a joint venture between the leading financial institutions, HDFC Ltd., and the Munich Re Group. The company has over 1,50,00,000 customers and has received several prestigious awards for its outstanding performance in the insurance sector. It offers over 10 health insurance policies. 

Cholamandalam Health Insurance is a globally recognized insurance company,s part of the reputed, century-old Murugappa Group. It has over 89,00,000 customers worldwide and has settled over 2,20,000 claims per year. It has also received several accolades over the years and offers over 10 health plans. 

Critical Illness Policy: 

Apollo Munich offers: 

  • Two critical ailments cover options – 
  • Silver Plan, covering 8 critical illnesses
  • Platinum Plan, covering 15 critical illnesses 
  • Coverage for critical illnesses like cancer, kidney failure, permanent paralysis, etc.
  • Lumpsum payouts on the diagnosis of the diseases listed in the plan
  • Waiver of pre-policy medical check-up up to 45 years 

Cholamandalam Health Insurance offers:

  • Two plan options for life-threatening ailments– 
  • Standard Plan, covering 10 critical illnesses 
  • Advanced Plan, covering 12 critical illnesses
  • SI amounts up to Rs.10,00,000
  • Coverage for critical health conditions including cancer, stroke, primary pulmonary hypertension, etc. 
  • Lump-sum payout on the detection of diseases covered 
  • Reimbursement for ambulance costs 
  • Waiver of pre-policy medical check-ups up to 55 years 
  • Claim settlement without of the need for hospitalization bills

Personal Accident Policy:

Apollo Munich’s Personal Accident Policy offers:

  • Lump-sum payout of the entire SI on accidental death and permanent total disability
  • Up to 100% SI for broken bones and second/third-degree burns
  • Up to 100% SI on permanent partial disability 
  • Compensation for temporary total disability 
  • Hospital surgery benefits covering in-patient hospital care costs
  • Home tuition benefits, Counseling benefits, and Child education benefits 
  • Daily hospital cash allowance
  • Convalescence benefit 

Cholamandalam Health Insurance’s Personal Accident Policy offers:

  • Lump-sum payout of the full SI on accidental death and permanent total disability
  • Up to 100% SI on permanent partial disability 
  • Weekly compensation in case of loss of employment due to a disability caused by an accident
  • Compensation for broken bones and private tuition
  • Coverage for funeral expenses and expenses for transportation of family 
  • Reimbursement of expenses incurred for modification of residence/ vehicle 
  • A daily hospital cash allowance 

Arogya Sanjeevani Policy: 

All insurers across India offer the Arogya Sanjeevani Policy, due to the IRDAIs directive mandating an affordable policy accessible to all. 

Apollo Munich Health Insurance and Cholamandalam Health Insurance Arogya Sanjeevani plans share similar features and offers: 

  • SI amounts up to Rs.5,00,000
  • Coverage for 
    • Domiciliary care
    • In-patient hospital care
    • Pre and post-hospital care
    • Alternate (AYUSH) treatment expenses
    • Daycare procedures 
    • Dental treatment and plastic surgery necessary due to disease/ injury 
    • Road ambulance expenses
  • 25% SI for cataract treatment 
  • 50% SI for advanced treatments  

Knowledge about the comparative features of Apollo Munich Health Insurance and Cholamandalam Health Insurance will enable you to choose the insurer offering the best benefits.

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