Considering the increasing number of health issues today, it is important that you look after your health. Nothing is as precious as the health of your family and self. However, most people cannot afford hospitalization in an emergency as hospital bills can tend to be exorbitant. Therefore, they tend to ignore their health and suffer later.
If you have a medical insurance
cover, paying for these is not a big deal. However, there may be instances wherein your insurance cover proves to be insufficient. For these situations, there is something known as top-up plans.
What is top-up health insurance?
A top up health insurance cover is a plan that provides compensation for hospitalization expenses once the deductible on your existing health insurance plan has exhausted. This way you can completely utilize your base health policy and then choose to opt for a top up cover in addition. A top up plan is relatively affordable and can be availed as a standalone policy as well.
To have a clear idea about how top-up plans work, read the following points:
- You can switch the insurer
You don’t compulsorily have to purchase a top-up plan from the insurer who sold you the base policy. According to the medical insurance rules in India, you are allowed to get a top-up cover from a different insurer. Always do your research before coming to a conclusion and choose a top-up plan that fits your requirements.
- Great backup
At times, your hospital bills can extend the assured limit of your health cover and you have to pay that extra money from your pocket. How will you arrange for it? At times like these, top up health insurance
plans come in handy. These plans provide a sum assured over and above the sum of your base health plan. Once you’ve cleared part of your bill with the claim from your base plan, you can file a claim under your top-up plan for the remaining amount.
- You can use them for over-the-top expenses
Top-up health insurance plans act as a backup, which means that you would not have to avail them if you already have a base cover. Ideally, you should make a claim when your bill exceeds a certain amount (threshold). For example, if your threshold is Rs. 3 lakh, you must use your top-up plan only after the bill amount crosses Rs. 3 lakh. On the other hand, if your bill is below Rs. 3 lakh, then you should not claim the top-up plan.
Always look for better options to find the perfect health insurance coverage
. It is imperative to have a good base plan in the first place and a convenient top-up plan as a backup. Before you select a plan, ensure that you keep all the above-mentioned points in mind. Don’t just buy an inappropriate cover; select one carefully after analyzing your needs.