Why is Health Insurance important?Having health insurance is important for several reasons

Rising medical costs Sharing of health related risk uncertain hospital bills Expensive/quality health care services Money value – Sick Vs Healthy Family health insurance Tax benefit Productivity of workforce Removes some of the burden from the state Keeping pace with the customer needs while

achieving profitability

Present scenario of health insurance industry

There are 22 health insurance companies in India.

According to NCAER, health insurance

penetration in India is around 1.2%.

Current size of Health insurance premiums is Rs

5125 crores and expected to

reach to Rs 30,000 Crores by 2015.

Apollo Munich Health Insurance

Apollo Munich is 74:26 joint venture between Apollo Hospital group and Germany-based Munich Re’s newest business segment Munich health.

It is established in 1945

It has turnover of 400cr last year

Chairman: Mr. Prathap. C. Redy, CEO: Mr. Antony Jacob.

Apollo munich health insurance

o Easy health individual

- Standard

- Exclusive

o Easy health family floater

- Standard

- Exclusive

Easy health individual (standard)

Sum insured per insured person per policy year is 1 to 5lakh.

Expense covered of pre and post hospitalization in patient treatment, day care procedure, domiciliary treatment, accommodation expense, organ donor, ambulance and health check up.

Base premium-Rs 2300

Gross premium-Rs 2537

Easy health individual (exclusive)

Sum insured(in lakhs)

3, 4,5 7.5

Accommodation expenses

Rs 500 - 3000 Rs 800 - 4800

Daily cash for accompanying an insured child

Rs 300 - 9000 Rs 500 - 15000

Base premium Rs 3900, 4800, 5850 Rs 6800

Gross premium Rs 4302 , Rs 5294 , Rs6453

Rs 7500,

Easy health family floater(standard) Sum insured /policy (Rs in lakh) is 2-5.

Expense covered are pre and post hospitalization,

in- patient treatment, day care procedure,

accommodation expense, organ donor,

ambulance, health check up.

Base premium-Rs 7056, 8000 ,9600,11438

Gross premium- Rs 7783 ,8824,10589,12616

Easy health family floater(exclusive)Sum insured (in lakhs)c 3, 4, 5 7.5

Accommodation expenses Rs 500- 3000 Rs 800- 4800

Daily cash for accompanying and insured child

Rs 300 - 9000 Rs 500- 1500

Maternity expenses with waiting period for 4 years

Rs 15000(normal delivery)Rs 25000(caesarean delivery)

Rs 25000(normal delivery), Rs 40000(caesarean delivery)

Base premium Rs9200, 11040, 13154, Rs 16242

Gross premium Rs 10148,12177,14509 Rs 17915

Max Bupa Health Insurance (MBHI)

Established in 1947 as the British United Provident Association.

Chairman: Analjit singh, CEO: Damien Marmion.

It is a joint venture between Max India (promoters of Max New York Life Insurance) and Bupa (UK based Health Insurance Company).

It has over 500 offices in India,more than 20,000 employees and 84,000 agents focused on delivering value to its 3.5 million customers.

Heartbeat health insurance plan

No third party involvement. Cashless facility Assured plan renewal for life Maternity and child benefit

- maternity benefit

- new born coverage

- 1st year vaccination No age limit for enrollment Tax benefit under section 80d

Heartbeat health insurance plan(platinum)

It covers an individual or a family for up to sum assured of Rs 15, 20 and 50lakh .

For new born baby 1st year vaccination as well as nutrition and diet consulting for up to 12 year.

E- opinion

Premium varies from Rs 86431,99317 and 1,14,226

Heartbeat health insurance(gold and silver)

In gold sum assured vary from Rs 5lakh to 10 lakhs and premium varies from

In silver sum assureds are 2lakhs and 3lakhs and premium varies from Rs 14947 to 17320

Premium varies from Rs 32226 to 45135

Comparison Apollo munich health insurance products are more

cheaper and affordable than Max bupa health insurance.

Name of the policy Health insurance standard family floater

Heartbeat gold health insurance

Sum insured 500000 500000

premium 12616 20515

Cooling off period 30 days 90 days

Network hospital 4000 381 throughout 6 cities

Name of the policy Health insurance standard family floater (Apollo)

Heartbeat gold health insurance(Max)

Pre-existing disease cover

3years 4years

Ambulance charge Up to 2000 Up to SI for network hospitals & Rs 2000 for other hospitals

New born baby NA For one years

Child vaccination NA Up to one years

Accommodation expense

No limit For single private room no limit

Age entry 18 years- 60 years No limit

Name of the policy Health insurance standard individual(Apollo)

Heartbeat gold health insurance(Max )

Sum insured Rs. 500000 Rs. 500000

Premium Rs. 7109

Cont....