With the evolution of Health Insurance, it is now possible to customize health insurance plans according to one's requirements. Customization is required if the plan holder requires additional healthcare benefits, or their health insurance cover is insufficient to meet their rising medical expenses. One of the means of increasing the sum insured is adding a top-up or super top-up cover to a base health insurance plan. It is a more cost-effective option than buying an additional base plan, or choosing a base plan with a higher sum insured.
What are Top-Up and Super Top-up Health Insurance Plans
Top-Up and Super Top-Up Health Insurance plans supplement a base health insurance plan. They are plans that provide additional protection at the time of a medical emergency, if the sum insured of the base plan is exceeded. Top-Up plans apply only to a single hospitalization claim, whereas Super Top-Up plans can cover multiple claims for cumulative medical expenses within the policy year. To understand how top-up or super top-up insurance plans work, one should understand the terms associated with them and their key features.
Deductibles - It is the fixed amount that needs to be paid by the policyholder for the hospitalization expenses, before the insurer pays the balance amount. For example, consider a top-up or super top-up plan that provides a sum insured of Rs 20 lakh and deductibles of Rs 2 lakh. For a claim of Rs 3 lakh, Rs 2 lakh must be paid by the policyholder through an existing based policy or from their own pocket. The remaining Rs 1 lakh will be paid by the top-up or super top-up insurance plan.
Annual Aggregate Deductible - It is the minimum total of all claim amounts incurred during a policy year, before a super top-up plan starts paying the balance claim amounts. For example, consider a super top-up plan with Rs 7 lakh sum insured and Rs 3 lakh aggregate deductible. Suppose during the policy period multiple claims add up to Rs 5 lakh, the insured will need to pay Rs 3 lakh from their own pocket or from their base health insurance plan. The super top-up policy would take care of the balance amount incurred of Rs 2 lakhs. The maximum amount that the super top-up plan will pay within a policy year will be Rs 7 lakhs.
Base Plan - Having a basic health insurance plan helps the insured cover costs below the deductible. However, it is not necessary to have a base plan to avail a top-up or super top-up plan.
Finding the best top-up or super top-up health insurance plan is a challenging task. One needs to compare the offered benefits and premium costs of all the available plans. SANA.Insure suggests numerous relevant health insurance options after analyzing and understanding the needs and requirements of the customer. It provides comparative information on various top-up and super top-up health insurance plans across categories such as individual, family floater, senior citizen, critical illness, etc.
If you need any help or guidance during the process, connect with a Health Insurance Expert at SANA.Insure over WhatsApp chat on 8278271818 or call us on 1800 202 8118.
Wish you a healthy and happy life!