Team AckoJun 6, 2022
A health insurance policy is extremely handy. Yet, with the rising health costs and ever-increasing health threats, a simple cover often proves to be insufficient. This is why you need to make use of the health insurance top-up plans. What exactly are these top-up plans and how can you use them? Take a look at this article to get your answer.
Glance over the points mentioned below to get a better understanding of how a top-up health plan actually works and how you can get the best value out of it:
Let us assume you have a health cover of Rs 5 Lacs. After a serious road accident, you are left in a state of coma and require various surgeries. Thankfully, you make a recovery, but your hospital bill stands at Rs 8 lacs when you get discharged. Where are you going to get the extra Rs 3 lacs from? This is why you need the top up health insurance plans. Such a plan offers a sum Insured over and above the sum insured of the base health plan. So you can make a claim on your top up plan for the remaining amount after you clear a part of the bill with the claim from your base plan.
As mentioned above, the top-up health insurance plans are only used as a backup and not as the primary cover. You, therefore, need to note here that you can only make a claim when the bill is above a certain amount. This is the deductible component, which is normally the sum insured of your base plan. So if your deductible is Rs 2 lacs, you can only make a claim if the bill is above Rs 2 Lacs. If the bill is Rs 1,80,000 then the base plan will take care of the expenses and you cannot raise a claim against the top-up plan.
Cheaper than a new plan: Many people wonder why they need to buy the top up health insurance plans and not go for a higher limit on their base plan. Well, the biggest reason for choosing a top-up health insurance policy is its cost. These plans are available at very low prices. You can get a top-up cover for Rs 10 lacs for a premium of just about Rs 3000. This is very cheap and it makes it affordable for most people.
There is no compulsion that you have to buy the plan from the same insurer who sells you the base policy. The medical insurance in India rules, permit you to get a top-up cover from a different insurance provider. If you are not happy with your existing health insurer’s service, you can get the top up cover from some other company. You must do your research and look for the best top-up plan from the best possible insurance provider out there.
These are some of the most fascinating features of top-up medical insurance India. As you can see, there are some very handy benefits that these plans have on offer.
Explore your options and find the most suitable health insurance coverage. You should ideally have a good base plan and a handy top-up plan along with it. Keep all the points mentioned above in mind and make a careful selection. You should never be underinsured or over-insured. So assess your requirements properly and then choose the covers you feel are apt for you.
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All hospital expenses, 100% covered
✓ Zero waiting period ✓ Zero deductions at claim
IRDAI Registration No: 157
Category: Non-Life Insurance
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