Apollo Munich Health Insurance vs Future Generali Health Insurance
In the recent years, incidences of diseases and healthcare costs both have been increasing at an alarming rate. Without a financial cushion to fall back on such rising medical costs can impact your finances. Health insurance has thus become a necessity. For some all-inlclusive and value-for-money plans, check out these policies offered by Apollo Munich Health Insurance and Future Generali Health Insurance.
Apollo Munich Health Insurance vs Future Generali Health Insurance – Overview
|Parameter||Apollo Munich Health Insurance||Future Generali Health Insurance|
|No. of health insurance policies||10+||13|
|E-services||Policy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer service||Policy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 call assistance|
|Claim settlement ratio (CSR)||92%||95.28%|
|Cashless claim settlement time||Within 20 minutes||Within 90 minutes|
*Source: The Annual Report of the Insurance Regulatory and Development Authority of India (IRDAI) –years 2019-2020.
Health Insurance Policies: Apollo Munich Health Insurance vs Future Generali Health Insurance
Apollo Munich Health Insurance, now known as HDFC Ergo Health Insurance, is a part of one of the largest financial institutions in India. The company, with a 1,50,00,000 customer base, has been a leading player in the insurance sector for two decades. Its high claim settlement ratio (CSR) of 92% is a testament to its consistent performance.
Future Generali Health Insurance is a joint venture between one of India’s largest retailers – the Future Group, the global insurer, Generali Group, and a leading investment company – the IITL Group. Future Generali has over 1,20,00,000 policyholders across India and a high CSR of 95.28%.
Senior Citizen Insurance Policy:
Apollo Munich has 3 policies to cater to senior citizens’ needs:
- MyHealth Suraksha Silver Smart Plan
- MyHealth Suraksha Gold Smart Plan
- MyHealthMedisure Super Top-up
These policies offer:
- Sum insured (SI) amounts up to Rs.15,00,000
- Coverage for
- domiciliary treatment, in-patient, pre and post-hospital care
- alternate (AYUSH) treatments
- Organ donor expenses
- 586 daycare procedures
- In-patient hospitalization for mental illness
- Air and road ambulance expenses
- Recovery benefits on long-term hospitalization
- Free health check-ups every year
- SI Reinstatement
- Waiver of pre-policy medical check-up up to age 55 years
Future Generali’s Senior Citizen Policy, called ‘Future Varishta Bima’ offers:
- SI amounts up to Rs.10,00,000
- Coverage for
- In-patient hospital care (including expenses for doctors/nursing fees, room rent expenses, expenses for medication and drugs, consultation fees)
- Daycare procedures
- Pre and post-hospital care
- Road ambulance expenses
- Free annual health check-ups
- 50% reimbursement of pre-policy medical test charges
Critical Illness Policy:
Apollo Munichs offers:
- Two plans –
- A Silver Plan covering 8 critical illnesses
- A Platinum Plan that covers 15 critical illnesses
- Protection against life-threatening diseases including cancer, stroke, multiple sclerosis, permanent paralysis, etc.
- Lump-sum payout of the sum insured (SI) upon diagnosis of the ailments covered
- Waiver of pre-policy medical check-up up to 45 years of age
Future Generali’s Critical Illness plan ‘Future Criticare’ offers:
- SI amounts up to Rs.50,00,000
- Lump-sum payout on the detection of diseases covered
- Coverage for 12 critical illnesses such as cancer, stroke, liver failure, and more.
- Waiver of pre-policy medical tests up to the age of 45 years
- 50% reimbursement of pre-policy medical test expenses for individuals aged 46 years and above
Vector-borne Insurance Policy:
Apollo Munich has a ‘Mosquito Disease Protection Policy’ that offers:
- Coverage for 7 vector-borne diseases such as dengue fever, malaria, chikungunya, etc.
- Inclusion of in-patient, pre and post-hospital care expenses
- Optional covers for out-patient treatments (including consultation fees, diagnostic tests and pharmacy expenses)
- Recovery benefits
- Health coaching for disease management, fitness, and nutrition
- Full payout in case of deaths due to vector-borne diseases
Future Generali’s ‘Future Vector Care’ offers:
- SI amounts up to Rs.7,50,000
- Coverage for 8 vector-borne diseases such as dengue, malaria, zika-virus, etc.
- Lump-sum payout on hospitalization due to a vector-borne disease
- Waiver of pre-policy medical test for all ages
With this comparison of Apollo Munich Health Insurance and Future Generali Health Insurance plans, you will be able to make an informed choice.