Apollo Munich Health Wallet Individual Plan

Apollo Munich Health Wallet is a health insurance plan that makes medical care affordable. It covers the customer's hospitalisation and OPD expenses, cost of treatment, and provides rider options. The unique part of the plan is that it comes with reserve benefit, restore benefit, and critical advantage rider benefit. These features ensure that the customer's reserve fund continues to grow and earn for them. This fund can be used later on or in time of need, making it a smart investment for secure health and retirement.

Please Note: Apollo Munich Health Insurance is now HDFC ERGO Health (formerly Apollo Munich Health Insurance)

All About Apollo Munich Health Wallet Plan

About Apollo Munich

Apollo Munich Health Insurance Company Ltd. is a joint venture between the Apollo Hospitals Group and Munich Health, the largest business segment of the leading global reinsurance company based in Germany. Founded on 8 August 2007, Apollo Munich is a private-sector health insurance company that has over 180 physical offices and more than 4500 employees in India.

About Health Wallet Plan

Similar to the Apollo Munich Optima Restore policy, the Apollo Munich Health Wallet is an insurance policy that gives customers a unique RESERVE benefit. This reserve continues to grow and earn, allowing customers to pool and carry forward unused reserve. The reserve adds 6% bonus in the reserve corpus and can pay up to 50% of the renewal premium, post five continuous renewals. This scheme is a great option for individuals in their healthy years who want to start investing early on in an insurance option that will cover them in the long run. The premium rates for any insurance policy are lower at the early stages, and it is highly recommended to take health insurance early on when the premium is low. This helps customers prepare for adversities that may affect their health in the future and create a reserve for whenever they need funds for a medical emergency.


  • Age: The policy covers any individual from the age group of 91 days to 65 years. While the maximum entry for this policy is restricted to 65 years, children between 91 days to 5 years can be insured, provided either of the parent is insured under this Policy.

The entry age for adult dependent is from 18 to 65 years.

  • Policy Period: The minimum policy period is of 1 year, and will be applicable from the day the premium is paid.
  • Policy Options: The policy is offered as an individual sum and on a family floater basis. A maximum of 6 members can be added on a single policy and will cover the customer's spouse, parents, in-laws, or children.

Waiting Period

The policy will not cover any treatments within the first 30 days of policy issuance except any accidental injury. If there are any pre-existing conditions that were informed during policy joining, it will be covered after a waiting period of 3 years. There is also a two-year waiting period for specific diseases, like cataract, hernia, joint replacement surgeries, surgery of hydrocele, etc.

Policy Renewal

The Health Wallet policy offers lifelong renewability, meaning there is no maximum cover ceasing age in this policy. The grace period of 30 days is provided for renewing the policy.

Benefits of Apollo Munich Health Wallet Plan

Reserve Benefit

Reserve Benefit is the USP of this policy that allows the customer to carry forward 6% bonus at the time of renewal and pay up to 50% of the renewal premium from the accrued Reserve Benefit post five continuous renewal.

The Reserve Benefit covers consultations with medical practitioners, physiotherapists, dietitians, speech therapists and purchases of medicines, vaccinations, dental expenses, spectacles or contact lenses, medical equipment, like blood pressure monitor or sugar monitor, etc.

Restore Benefit

Restore Benefit provides sum insured equal to 100% of the base sum in case it is exhausted in the policy period. The Restore Benefit can be used only after the base sum insured and the multiplier benefit is completely exhausted and can be used for future claims made by the insured individual. This cannot be carried forward to the next policy year and is a benefit in case of emergencies.

Multiplier Benefit

The Multiplier Benefit is a great reward for individuals leading a healthy and medical-expense free lifestyle. In case of a claim-free year, the basic sum insured will be increased by 50% at the time of renewal. If there is no claim even in the second policy year, then the sum insured amount is doubled.

The Multiplier Benefit makes this policy a smart investment and allows the customers to get added benefits in times of need while not having to pay an extra premium for the feature. This is another reason why the Apollo Munich Health Wallet is a great and healthy investment option.

Recovery Benefit

The Health Wallet offers you a lump sum amount of Rs. 10,000 in case your hospital stay exceeds ten continuous days.

Critical Advantage Rider Benefit (Optional)

The Critical Advantage Rider Benefit is an optional add-on benefit for covering global treatment for Cancer, Coronary Artery Bypass Surgery, Heart Valve, Replacement/Repair, Neurosurgery, Liver Transplant, Bone Marrow Transplant, Pulmonary Artery Graft and Aorta Graft Surgery. The benefit also covers post-hospitalisation expenses, second opinion, travel and accommodation expenses of the insured person along with accompanying relative, and world-wide coverage of treatment and medical expenses for emergency illness or injury outside India.

Preventive Health Check-Up Benefit

The insured is offered a preventive health check-up during renewal, irrespective of claims made. This helps the customer to keep track of his/her health and monitor any future risks efficiently.

Ambulance Cover Benefit

Health Wallet covers expenses incurred on ambulance transportation of the insured person to the hospital for treatment in case of an emergency up to Rs. 2000 per hospitalisation.

Tax Benefit

The entire premium amount paid for this policy qualifies for deduction under Section 80 D of the Income Tax Act.

Deductible Option

In case the insured already has a health insurance cover, the health wallet offers an optional deductible feature. It allows the insured to cover healthcare costs up to the deductible amount in the policy year through another existing policy and will apply to individual and Family Floater policies.

The Health Wallet can also be converted into a full-fledged NIL deductible plan using the Waiver of Deductible Benefit with no re-evaluation of health status. However, this can be exercised only at the time of renewal between 55-60 years of age or the beginning of 6th policy year, provided it has been informed before 50 years of age.

Features of Apollo Munich Health Wallet Plan

The Apollo Munich Health Wallet offers great features, some of which are:

  • The Sum Insured under this place starts from Rs. 3 lakhs and goes up to Rs. 50 lakhs. Also, thanks to the Multiplier Benefit that is part of this scheme, the sum assured keeps increasing after renewal if no claim has been filed in the previous year.
  • Other in-policy features, like reserve benefit, restore benefit, critical advantage rider Benefit, and Preventive Health Check-up Benefit make it a great all-round health and investment scheme.
  • Health Wallet by Apollo Munich provides the portability option, which will allow individuals to transfer their benefits from other health policy provided by a different insurance service provider to the Health Wallet plan.
  • Free-look period of 15 days and Grace Period of 30 days is provided for this policy.
  • Initial Waiting Period of 30 days and exclusion of 2 years for diseases like Cataract, Hernia, and Joint Replacement is provided. Pre-existing diseases have a waiting period of 3 years.

Exclusions Under Apollo Munich Health Wallet Plan

As per any health policy in the market, some diseases and scenarios are exempted from the plan. The Apollo Munich Health Wallet does not provide claims to certain scenarios like:

  • Expenses related to HIV or AIDS and related diseases.
  • Expenses for congenital diseases, mental disorder, or insanity.
  • Expenses for cosmetic surgery and weight control treatments.
  • Deliberate self-injury or attempt to suicide.
  • Exemption from any medical or health problems arising due to abuse of intoxicant or hallucinogenic substances, like intoxicating drugs and alcohol.
  • Hospitalisation due to war or an act of war or due to a nuclear, chemical or biological weapon and radiation of any kind is not covered.
  • Any injuries or health problems arising due to indulgence in risky activities or sports like racing, diving, parachuting, mountain climbing, and others are not covered.
  • Pregnancy, dental treatment, external aids, and appliances, etc. are not covered in this policy.
  • Experimental, investigative and unproven treatment devices, and pharmacological regimens.
  • Treatment availed outside India that is not covered in the policy document or at a facility that is not a recognised hospital.
  • If the policyholder is found committing or attempting to commit any breach of law with criminal intent.

Before you plan to invest in any health policy, please refer to the Policy Documents to understand the complete list of exclusions.

Importance of Apollo Munich Health Wallet Plan

The Apollo Munich Health Wallet Plan covers many health and medical scenarios, making it a great addition to cover the individual or the family. The plan provides cover for:

  • Hospitalisation expenses for a period of more than 24 hrs.
  • Medical expenses incurred in 60 days before the hospitalisation.
  • Medical expenses incurred in 90 days after the hospitalisation.
  • Medical expenses for day-care procedures.
  • Medical expenses incurred for availing any medical treatment at home that would otherwise require hospitalisation.
  • Medical expenses for harvesting the organs from the donor for organ transplantation.
  • Ambulance Services covered up to Rs. 2,000 per hospitalisation for utilising ambulance service.
  • AYUSH Treatment - The Medical Expenses for any treatment taken under Ayurveda, Unani, Siddha, and Homeopathy.
  • Covers any medical emergencies or hospitalisation expenses outside India up to the specified limit and in recognised hospitals.

Documents Required to Buy Apollo Munich Health Wallet Plan

If you are planning to invest in the Apollo Munich Health Wallet Plan for yourself and your family, you can do it on your own or through an agent. For processing the plan, you'll need to follow the steps below:

  • Fill the application form with all the details like your personal information and health profile. Ensure that the information given in the form is complete and accurate.
  • Handover the application and the premium amount in your preferred mode of payment to the company representative.
  • A pre-policy check will be organised at a network centre near you. In case your proposal is declined, the cost of the pre-policy check will be refunded.
  • Based on the details, Apollo Munich will either accept or revise the plan to suit your profile.

The documents that will be required to buy the Health Wallet plan are:

  • Proof of Age: Acceptable documents are Birth Certificate, PAN Card, Voter’s ID, Driving License, Passport, School or College Certificate, etc.
  • Photo Identity Proof: Aadhaar Card, PAN Card, Driving License, Passport, Voter’s ID, etc.
  • Proof of Address: Acceptable documents are Ration Card, Telephone Bill, Electricity Bill, Passport, Voter’s ID, Bank A/C Statement, etc.
  • Proof of Income: Salary Slip, Employer’s Certificate, Form 16, etc.
  • Medical Check-up: If asked by the insurance company.
  • Passport Size Photograph

Documents Required for Claim Apollo Munich Health Wallet Plan

  • Claim form: Filled and Signed.
  • Diagnosis of Treatment (if mentioned).
  • Original Bills along with prescriptions (if any).
  • Medical Reports Doctor’s Certificate.
  • Settlement Letter (if any).
  • Discharge summary (if any).
  • For accident cases, copy of Medico-Legal Case (MLC) and First Investigation Report (FIR).
  • KYC Requirements (proof of identity and address).
  • Legal Heir Certificate.


The Apollo Munich Health Wallet Plan is great for someone looking for an investment and health scheme for individuals or covering the entire family. The plan covers spouse, children, dependent parents, dependent in-laws and a maximum of six members can be enrolled in a single policy.

The Health Wallet Plan ensures a win-win, wherein the individual or the dependents covered in the policy gain bonus benefits in case of no claims, allowing the benefits to be added to the scheme to be used in the future in case of any health problems. This makes the policy a great investment option, especially for individuals in their healthy years and helps them gain benefits for staying healthy and fit.

If you are planning to invest in the Apollo Munich Health Wallet policy or want to explore more options that are the best fit for your and your family's needs, read more about how to choose health insurance at Coverfox.