Sometimes having health insurance is not sufficient. Because we cannot guarantee the base sum insured amount is enough for us. And if we think of enhanced it we have to pay more.
So is there any option to increase our health insurance cover by paying less premium?
If you’re looking answer to this question you’re at the right place.
If we already have health insurance and wanted to increase our si is easier nowadays.
Many insurance companies have introduced top up plan? And some have introduced super top up plan along with top up.
What is top up health insurance ?
Top up is reliable solution to enhance health insurance sum insured. Top up have a deductible amount. A amount which we can call threshold or boundary amount which we will have to use first to use top up plan.
Once we use required deductible amount we can claim remaining bill from top up..
- What is deductible amount ?
Well, While purchasing a top-up plan a question that comes in our mind is what exactly the deductible is
Top-up plans have a prefixed deductible amount for the SI we will choose. From those deductible amounts, we have to choose.
Like, suppose I want to take a top-up plan or super top-up plan of Sum Insured 10 lac.
Here I will have deductible options
Like 2lac, 3 lac, and 5 lac. So what I need to do is select the required deductible amount.
Like, suppose I have a base policy of 3 lac SI so what I will do? I will go with 3 lac deductible. This means to get benefit from the top-up plan I will now need to use three lac from my base policy.
- I have a base policy of 3 lac but what if I take a high deductible amount?
Like in case you have 3 lac base policy and you wanted to choose 5 lac as deductible in this scenario remaining 2 lac you will have to bear from your pocket only after then you can use the top-up plan.
- Do premium vary according to deductible amount ?
High premium rates mean extra expense. We want something which will be cheaper and better. With an increase in deductible amount premium rate decreases.
So if you have a base policy with high SI. you can always go with a higher deductible option. Which will become cheaper?
- I don’t have base policy can I still purchase top up plan ?
This a very common query. Every wants to know if we can purchase top up or super top up health insurance with out having any base insurance.
Fortunately, the answer is yes! Even if we don’t have base policy still we can purchase health insurance but conditions apply. We have to use deductible first which we normally use from our base policy. But if we don’t have a base policy that deductible Amount we have to pay from our pocket.
The main condition is in any top up plan is the consumption of deductible amount or a value which we can fulfill from our pocket, base policy or from a group Medi-claim policy.
Super top-up is an improved version of the Top-up plan. Where we get the best facility or more good facilities than a top-up plan. Top-up plans normally have less Sum Insured range. Whereas in the Super Top-up plan we get a more Sum Insured range for our needs.
One key point about the top-up plan is we get the aggregate deductible options. Which means we don’t have to use deductible each time to get covered from the policy.
- What is aggregate deductible ?
An aggregate deductible is an option mostly available in the Super top-up plan. Like what happens if we choose the deductible amount of 5 lac rs. Here we don’t have to use complete 5 lac only once to get covered from top-up. In this case, we can complete our deductible in part’s.
For example, as in the first claim, our bill was 2 lac . in the next claim it was 50 thousand and in third one, it was 2.5 lac. So now as a total, we have used 5 lac for medical expenses in the same year. Which means now we can directly use or claim from a super top-up plan. No need to use deductible amount each time.
Krushna Budhe .