Why is super top-up health insurance a wise investment for increased financial security?

Consultation fees and hospitalization costs are perpetually upward for common health issues like dengue and jaundice or medical emergencies like road accidents. Even if you have health insurance, you may witness cases where medical bills are above your coverage amount. This makes it increasingly vital to invest in medical insurance top-up plans in addition to your health insurance plan in India.

What is super top-up health insurance?

A medical insurance top-up, also called a health insurance top-up, offers an additional insurance cover, over and above your regular health insurance, on a per-claim basis. This means you can claim this sum only if the medical bill is more than the sum insured in your primary health insurance plan. 

On the other hand, a super top-up health insurance plan covers an aggregate of claims beyond your base sum insured, allowing you to file multiple claims through this plan itself.

For example, say you have primary health coverage of ₹ 5 lakhs and a super top-up plan of ₹ 7 lakhs. If your medical bill crosses the former threshold, you can file for subsequent claims against your extended medical insurance top-up, i.e., ₹2 Lakh in this case.

With this vital extension, you get extra coverage, and added financial security, for various health-related issues. What’s even better? Premiums for these super top-up health insurance plans are pocket-friendly and very feasible.

What does a medical insurance super top-up cover?

Here are a few standard inclusions in super top-up insurance plans that can boost your health insurance benefits:

What does it not cover?

Your health insurance super top-up plan will not cover:

How does it benefit your health insurance policy?

When it comes to health insurance benefits, a super top-up plan can increase your insurance strength more economically in comparison to a health insurance plan bought separately. 

For example, say you opted for a super top-up health insurance plan of ₹ 10 lakhs and a deductible base plan of ₹ 5 lakhs. Now, in case of any medical expense that crosses the ₹ 5 lakh mark, your super top-up plan will pay for the aggregate claim amounts (within that year). So if your bills cumulatively amount to ₹ 8 lakhs, your super top-up plan will cover the ₹ 3 lakhs above your base plan deductible.

An interesting fact to note is that the extra cost you would need to pay to extend your base health insurance plan from, say ₹5 Lakh to ₹10 Lakh would be much higher than the cost of super-top-up plans for the same ₹5 Lakh extended cover amount. 

Who should buy it and why?

Senior citizens are most in need of medical attention. This makes them an ideal demographic who should invest in a medical insurance super top-up plan to ensure their regular medical expenses are extensively covered. 

Corporate employees are generally offered health coverage by their companies. However, the sum insured can be on the lower side, which makes them another ideal group of people to invest in a health insurance top-up plan. 

If you buy a health insurance plan with a low sum insured, you too should consider investing in a super top-up plan that will give you added coverage in times of need, value benefits, and the comfort of lower premiums. 

Important points to be kept in mind:

• Super top-up plans can have room rent limits, where you might have to pay partly.
• Waiting periods for both your base plan and super top-up plan can vary. 
• The cashless network of hospitals can be different from your base plan’s list. 
• Your health insurance plan and super top-up plan will both have separate claim processes.

Key Takeaways

With ever-increasing expenses in the medical field, the need to be extra prepared has taken the limelight in India. We recommend investing in a super top-up insurance plan to avail its benefits. That way, you can ensure enhanced preparedness for a rainy day without burning a hole in your pockets.