Knowledge Centre

Save more with Super Top-Up Health Insurance Plans

The coronavirus outbreak made one thing quite clear – health insurance is indispensable. With the technological and medical advancements, the cost of healthcare has also risen exponentially. Because of the pandemic, people aren’t taking any chances and buying health insurance  with extensive coverage for themselves and their families. However, increasing health insurance cover also increases your premiums. But there is a way, if you can expand your insurance cover without paying hefty premiums. Say hello to Super Top-Up Plan. 

1. What are Super top-up plans?

Well, it is an additional health cover, which offers protection to the policyholders when they reach the decided deductible limit. A deductible is a fixed sum of money that you have to pay for medical expenses from your pocket or by your existing regular health insurance cover, in order, to activate the super top-up plan . It then takes care of the rest of the expenses.

Let us explain with an example. Mr. Das has a Super Top-Up plan worth ₹4 lakh, with a deductible of ₹6 lakh. Supposedly, he gets hospitalised twice in that year. On the first occasion, he incurred a medical bill of ₹5 lakh. Now, this amount can either be paid by him from his own savings or if he has indemnity medical insurance, the insurer can pay the sum assured. In his second visit, the treatment cost him around ₹3 lakh. Now, the super top-up plan will kick in as the threshold limit of ₹6 lakh has been crossed. So, from the sum assured of ₹4 lakh, the super top-up plan will assist Mr. Das with ₹2 lakh i.e. the total expenditure (₹8 lakh) minus the deductible. 

2. Features of a super top-up health policy

  • Having health insurance to take care of the expenses is important, but the coverage may not be adequate. Super top-up plans save you money as it provides additional coverage at a small premium compared to what you would have paid in increasing your sum insured in your existing health plan. 

  • The deductible is agreed upon by the insured party and the insurance company when taking the plan.

  • It isone of the recommended plans to tackle the rising cost of healthcare. 

  • On policy renewals, you get free health checkups and you can save tax up to ₹75,000.

3. How super top-up policies are different from other ordinary plans?

Super top-up is an additional coverage, which works well with an existing health plan. A top-up health plan provides the same benefits as regular health policies and is an independent cover.

The real confusion people face is whether to go for normal top-up plans or a super top-up plan.

While the former generally covers only single incidence hospitalisation (with the condition that if there’s a relapse within 45 days of discharge from hospital, it is taken as a single illness), super top-up plans add the expenses from two or more hospitalizations to calculate the deductible.

For example, if our Mr. Das has a top-up cover with a threshold of ₹3 lakh and gets hospitalised twice in a year with bills of ₹2 lakh and ₹2 lakh each, the top-up plan will not be triggered, but a super top-up plan will as illustrated previously.

Similarly, in a family floater plan, if two members are hospitalised with individual bills of ₹2.5 lakh each, top-up plans don’t come into the picture.

4. What you should consider?

Well, you already read how a super top-up plan can save you money, but here’s what you should consider while buying one. Go for a plan with the deductible that suits your budget as well as provides adequate coverage. If the deductible is higher, the premiums would be cheaper, but at the same time, if the deductible is too high, the super top-up plan may not even get activated. So, consider your medical history when deciding the threshold amount. Also, get complete information about the discounts, renewability clause, pre-existing waiting period, eligibility, and exclusions before buying the plan. 

Conclusion

When living amid a pandemic, we must ensure that we are at least financially secured when diagnosed with a serious ailment. While a health insurance plan is a must, let’s also make sure we have a back-up in the form of a super top-up plan for occasions when medical expenses may overshoot the sum insured. We offer super top-up plan that gives maximum benefits at a reasonable cost. Plus, our huge network of hospitals will help you find quality healthcare facilities in your vicinity. 

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales. UIN my:health Medisure Super Top Up Insurance  IRDA/NL-HLT/L&TGI/P-H/V.II/31/14-15 UID No. D2HI951


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