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Business News/ Money / Calculators/  Product crack: Apollo Munich’s Dengue Care
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Product crack: Apollo Munich’s Dengue Care

Apollo Munich Health Insurance has launched a policy that solely covers treatment for dengue

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Apollo Munich Health Insurance Co. Ltd has launched a policy that solely covers treatment for dengue. It covers treatment in the outpatient department (OPD), apart from covering hospitalisation costs if the insured is diagnosed with the disease.

HOW DOES IT WORK?

It is a regular indemnity plan that covers hospitalisation cost (sum insured is 50,000 or 1 lakh), with an OPD cover of up to 10,000 that includes diagnostic tests, consultation, home nursing and pharmacy. It is an annual policy and offered on an individual sum insured basis. An individual can add her family members—spouse, dependent children and parents—up to a maximum of six members in a single policy (maximum four adults and five children). However, the premium levied would be for the number of people listed in the application form. It is not a floater policy, so premium is charged for each person individually. The minimum entry age for an adult is 18 years and maximum is 65 years, and that for a child is 91 days and the maximum is 25 years. Policy can be renewed for life.

The annual premium for sum insured 50,000 is 444 (excluding service tax) and for 1 lakh, it is 578. After 65 years of age, the renewal charges remain the same for similar insured amounts. The premium amount is not be increased for renewal.

Initial waiting period is of 15 days; for a regular indemnity plan, this is usually a month. You have to give a declaration while buying the cover that you are not suffering from dengue. No medical tests are needed when buying the policy.

Those who have pre-existing diseases other than dengue at the time of purchase can also buy this policy. The plan also insures all consequential diseases or health issues due to dengue, such as an organ failure, but does not cover any pre-existing ailment that gets aggravated after the disease.

The premium amount paid under this policy qualifies for deduction under section 80D of the Income-tax Act, 1961, subject to applicable tax laws.

MINT MONEY TAKE

The policy is not expensive, and costs about one-third of a regular health cover of a similar amount. It also gives OPD costs but only for an amount of 10,000. Further, it only covers the treatment for dengue and complications related or caused by it. One should keep in mind that although dengue may be widespread and a potent threat at present, there might be an outbreak of some other disease in the future. This is why a regular indemnity product might be better as it will cover more than one disease. Also, OPD costs would be covered in a regular mediclaim policy as well as it typically picks up OPD expenses related to a disease 30 days before and 60 days after hospitalisation.

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Published: 02 Dec 2015, 08:09 PM IST
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