Apollo Munich Health Insurance has announced the launch of ‘Optima Restore', a health insurance product.
Optima Restore offers a ‘restore' benefit that automatically reinstates the basic sum insured in case it is exhausted within the policy year. So, if the policyholder uses up the cover and falls ill with another illness, the health insurer will restore the entire amount.
“Optima Restore is the first in a series if next generation products that we are planning to launch. It is based on our extensive research over the past 17 months and analysis of over 250 global products,” said Mr Antony Jacob, CEO, Apollo Munich Health Insurance.
No claims-based loading
The product has no claims-based loading, so if the policyholder has made a claim, the company will not load the renewal premium.
The product offers ‘multiplier benefit,' so if the policyholder has had a claim-free year, the insurer will increase the basic sum insured by 50 per cent as a non-claim bonus and after the second year, the company will double the basic sum insured as a no-claim bonus.
The product also offers additional benefits such as true life-long renewal, no geography restrictions, and no sub-limits.
The maximum sum insured under this policy is Rs 15 lakh.