Permanent Exclusion

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I am 32 years old. I applied for the Optima Restore Policy of Apollo Munich and genuinely stated in the proposal form that I have near sightedness and wear spectacles, I also submitted my eye test reports from past. I thought even though this was a common thing, it’s better to declare that. I have no other illness etc and wasn’t required to take medical tests (due to Age slab).


The company later informed me that they will exclude “ALL” eye releated treatments permanently and only if I accept this condition, that they will isssue the policy.


Can they do that?


What’s the point of keep paying premiums when things like eye treatments (cateract etc, which are quite common at later stages in life) will not be covered at all!


Is it worth writing to IRDA about it?

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Tags: asked February 3, 2012
Vikram
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1 Answer

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I agree that it is most unfortunate that for a simple short sightedness the company is insisting on a permanent exclusion of all "eye- related" treatments. If you feel strongly about this you should definitely complain to the insurance ombudsman on this score. First however please try posting this grievance on Apollo Munich's facebook page. It is likely that this may itself give you relief. Also consider other companies such as Max Bupa ( co-pay of 20% after 65 years) but choose the specific city where you are likely to take treatment (the premiums vary if you choose the option that allows all cities) and also choose the variant that allows you to choose a single room. Disclosure and Exclusion : Both the insurance companies are/have been advertising on Apnapaisa. Apnapaisa is not an insurance broker or insurance agent and you should take professional advise from them or your personal finance advisor before doing any transactions in insurance.
Harsh Roongta
10

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