Benefits of Having a Super Top-Up Health Insurance Plan
You might choose a super top-up health plan to expand your health coverage if you believe your current health insurance coverage is insufficient to satisfy your current needs – Sanjeev Sinha
It’s a good idea to compare all the super top-up plans to find which one best fits your needs.
A medical emergency can put anyone in a financial bind. Health insurance is a critical tool for covering medical bills when they arise. However, the ongoing Covid-19 pandemic has made us realise the need of having a comprehensive health insurance policy that covers the maximum cost in order to reduce your medical expenditure. You now require health insurance with a higher sum insured amount than a standard health insurance policy.
You might choose a super top-up health plan to expand your health coverage if you believe your current health insurance coverage is insufficient to satisfy your current needs. It assists you in covering additional medical bills if your existing insurance coverage is exhausted. The super top-up coverage becomes active for subsequent claims after the deductible is paid. Unlike a regular top-up plan, it covers cumulative expenses that cover single claims over and above the deductibles.
Getting additional insurance benefits under an existing health insurance policy might be costly, which is where a super top-up coverage can come in handy. It provides coverage above and beyond your deductible. When your hospitalisation claim bill exceeds your existing policy coverage limit, it helps cover unexpected medical expenses. According to Bankbazaar, you will have to pay the deductible amount from your existing health plan, and the remaining cost can be covered by a super top-up plan based on the policy amount.
For example, you have Rs 5 lakh in health insurance. You have purchased a Rs 3 lakh super top-up insurance plan. The entire sum insured is Rs 8 lakh, with a Rs 5 lakh threshold/deductible limit. Consider a medical bill of Rs 8 lakh. Your base insurance will cover Rs 5 lakh, while the super top-up plan will cover Rs 3 lakh. One of the appealing qualities of the super top-up plan is that it allows repeated claims and only lapses when the entire amount has been spent.
It’s good to compare different super top-up plans and see which suits best for your requirements. Also, make sure the policy amount is sufficient to cover you and your family’s medical expenses; else, having a super top-up plan will make no difference if it fails to cater to your medical bills during an emergency.
A super top-up plan ensures us maximum content of medical expenses at a minimal premium.