Which Family Floater Medical Insurance Policy to Choose: Apollo Munich - Optima Restore or Star Health - Family Health Optima

When choosing between Apollo Munich's Optima Restore and Star Health's Family Health Optima, it is important to consider several key factors to determine which policy best suits your needs. Here's a comprehensive comparison based on various criteria that can help you make an informed decision.

Coverage and Benefits

Apollo Munich - Optima Restore:

Sum Insured: Offers a range of sum insured options typically from Restoration Benefit: Automatically restores the entire sum insured if it gets exhausted during the policy year, which is particularly beneficial for families with high medical expenses. Coverage for Pre-existing Conditions: Covers pre-existing diseases after a waiting period usually of 3 years. Daycare Procedures: Extensive coverage for daycare procedures without hospitalization.

Star Health - Family Health Optima:

Sum Insured: Also offers a wide range typically from Family Floater: Covers the entire family under a single sum insured, and the premium is based on the age of the eldest member. Coverage for Pre-existing Conditions: Covers pre-existing conditions after a waiting period usually of 48 months. Daycare Procedures: Comprehensive coverage for daycare treatments.

Premiums

Compare the premiums for similar sum insured options. Family Health Optima may offer competitive pricing especially for larger families.

Network Hospitals

Check the network of hospitals associated with both insurers in your area. A wider network means more choices for cashless treatment.

Claim Settlement Ratio

Look at the claim settlement ratio of both companies. A higher ratio indicates a better track record in settling claims.

Additional Features

Apollo Munich:

Health check-up benefits. Coverage for alternative treatments AYUSH.

Star Health:

No cap on room rent. Coverage for domiciliary hospitalization.

Customer Service

Research customer reviews and ratings for both insurers regarding their customer service and claims processing efficiency.

Conclusion

For those prioritizing restoration benefits and extensive coverage for daycare procedures, Apollo Munich - Optima Restore may be the better choice. On the other hand, if you prefer a family floater plan with competitive premiums and good overall coverage, Star Health - Family Health Optima might suit you better.

It is advisable to carefully read the policy documents, understand the terms and conditions, and consider your family's specific health needs before making a decision. Consulting an insurance advisor can also help clarify any doubts.