A comparison between the features of Apollo Munich Optima Restore Benefit and Max Bupa Health Companion Re-fill Benefit from freefincal.com ₹e-assemble series

1. Apollo Munich
Optima Restore
vs
Max Bupa
Health Companion
Re-fill
Freefincal.com
₹e-Assemble: Step 4, part B
How to choose health insurance
The importance of policy wordings

2. “While the whole world was having a big old party a few
outsiders and weirdoes' saw what no one else could.
These outsiders saw the giant lie at the heart of the
economy. And they saw it by doing something the rest
of the suckers never thought to do. They looked.” The
Big Short

3. How to read policy wordings?
• First search for attractive features and
understand their limitations
• Be sure to read exclusions
• Waiting periods (in general and for specific
conditions and treatments)
• Terms and conditions (special, masala, special-
sadha)
• Notification of claim
• Definitions

4. Look for limitations, not features
When will it not work?

5. Did you know?

6. Basic differences
• Apollo Munich has a 65 age cut off, while Max
Bupa does not.
• Apollo has 2Y waiting period for specific
conditions and 3Y for all pre-existing diseases.
• Max Bupa has a 2Y waiting period for specific
conditions and 2Y/3Y for all pre-existing
diseases depending on the plan variant
chosen.

7. Max Bupa Health Companion

8. Max Bupa Health Companion
Permanent Exclusion

9. Max Bupa Health Companion

10. Max Bupa Health Companion

11. No claim or multiplier benefits
Apollo Munich Optima Restore
• Following claim-free year
• 50% of sum insured added as bonus subject to ceiling of 100% of SI
• Eg.: 10 Lakh
 Claim free 1st year
 5 lakh bonus in 2nd year (15L) (no claims)
 5 lakh bonus in 3rd year (20L) (no claims)
 No bonus in 4th year (20L) Claim made
 20L – 5L = 15L in 5th year. Claim made
 15L – 5L = 10L in 6th year. Claim made
 10L in 7th year No claim made
 10L+5L in 8th year. No Claim made
 15L +5L in 9th year and so on.

12. No claim bonus
Max Bupa Health companion
• Following claim-free year
• 20% of sum insured added as bonus subject to ceiling of 100% of
SI
• Eg.: 10 Lakh
 Claim free 1st year
 2 lakh bonus in 2nd year (12L) (no claims)
 2 lakh bonus in 3rd year (14L) (no claims)
 2 lakh bonus in 4th year (16L) Claim made
 16L in 5th year. Claim made
 16 in 6th year. Claim made
 16L in 7th year No claim made
 18L in 8th year. No Claim made

13. Apollo Munich Optima Restore

15. Apollo Munich Optima Restore
J F M A M J J A S O N D J
10 Lakh floater cover for a family of four: father, mother, son, daughter
9.99 Lakh claim 0.01 Lakh cover
J F M A M J J A S O N D J
10 Lakh claim 10 Lakh restore cover
(will not apply to same illness to same person)

16. Apollo Munich Optima Restore
10 Lakh floater cover for a family of four: father, mother, son, daughter
J F M A M J J A S O N D J
10 Lakh claim
10 Lakh restore
cover (will not
apply to same
illness to same
person)
No carry-forward!

17. Apollo Munich Optima Restore
J F M A M J J A S O N D J
10 Lakh floater cover for a family of four: father, mother, son, daughter
11 Lakh bill (only 10 Lakh paid)
J F M A M J J A S O N D J
10 Lakh claim
10 Lakh cover (will not
apply to same illness to
same person)
10 Lakh claim
No cover
10 Lakh restore cover (will not apply to same illness to same person)

18. Apollo Munich Optima Restore
10 Lakh floater cover for a family of four: father, mother, son, daughter
J F M A M J J A S O N D J
5 Lakh claim
10 Lakh cover (will not apply to same illness to same person)
5 Lakh claim

19. Apollo Munich Optima Restore
J F M A M J J A S O N D J
10 Lakh floater cover + 5 lakh multipler bonus
for a family of four: father, mother, son, daughter
14.99 Lakh claim 0.01 Lakh cover
J F M A M J J A S O N D J
16 Lakh claim
(15L paid by insurer)
10 Lakh restore cover (will not apply to same illness to same person)

20. Max Bupa Health Companion Re-fill

22. Max Bupa Health Companion Re-fill
J F M A M J J A S O N D J
10 Lakh floater cover for a family of four: father, mother, son, daughter
1 Lakh claim
J F M A M J J A S O N D J
11Lakh claim
Only 10 Lakh paid
10 Lakh re-fill (will not apply to same illness to same person)
9 lakh cover + 1 Lakh re-fill
(will not apply to same illness to same person)

23. 10 Lakh floater cover for a family of four: father, mother, son, daughter
J F M A M J J A S O N D J
1 Lakh claim
9 lakh cover + 1 Lakh re-fill
(will not apply to same
illness to same person)
No carry-forward!
Max Bupa Health Companion Re-fill

24. 10 Lakh floater cover for a family of four: father, mother, son, daughter
J F M A M J J A S O N D J
5 Lakh claim
5 lakh cover
5 Lakh claim
Max Bupa Health Companion Re-fill
5 lakh cover + 5 Lakh re-fill
(will not apply to same illness
to same person)

25. J F M A M J J A S O N D J
10 Lakh floater cover + 6 lakh bonus
for a family of four: father, mother, son, daughter
15 Lakh claim
1 lakh + 9 Lakh re-fill (will not apply to same illness to same person)
J F M A M J J A S O N D J
17 Lakh claim
(16L paid by insurer)
10 Lakh cover (will not apply to same illness to same person)
Max Bupa Health Companion Re-fill