You should always look to get the right health insurance policy that can offer higher coverage on on your premium. But many a times, you could come across a situation where you find it difficult to pay the higher premium amount that comes with maximum cover. It is possible that you could miss out on paying some premiums and thus affect your coverage. Due to high premiums on maximum health cover, the renewal of the policy in India has taken a beating. According to Insurance Regulatory and Development Authority of India (IRDAI), only 74.79 lakh policies were renewed in 2015-16 compared to 92.67 lakh in 2014-15. A bigger reason is attributable to the higher premium amount. So what will you do? Get into despair or exploring the right solution. I am sure the you will give a nod to the latter. The right solutions thus here will be top up and super top up plans that can increase your health cover. In this article, we will discuss about the role of top and super top health covers.
Basically, a top up cover is a deductible plan having a threshold limit after which it comes into play. For example-You are having a health insurance policy of Rs 7 lacs, you can take a top up plan with sum assured of 15 lacs and a deductible of 7 lacs as it will provide you an extra cover of Rs 8 lacs above your base plan. The initial amount of Rs 7 lacs will be covered by your base health insurance plan. The top up will then cover the next Rs 8 lacs. The top plans have become cheaper in the wake of deductible limits. But one must bear in mind that claims on top up plans are considered individually.
Super Top-up Cover
Super top up cover is an improved version of the top up plan with a slight difference but a very important one. Top up cover comes to use only when the claim amount exceeds the threshold limit and it works on an individual plan basis. Suppose, you have a base plan of Rs 5 lacs and a top up cover of Rs 10 lacs with Rs 5 lacs as the threshold limit. You come with a bill of Rs 4 lacs twice in a year that resulted from the hospitalization due to some ailment. You will be denied the cover from top up plans as the bills here have not gone beyond Rs 5 lacs, which is the threshold limit. But having the super top up plan can work in your favour as it considers the entire expenses on hospitalization in a year. So, if you have two bills of Rs 4 lacs, you will be paid Rs 8 lacs through the super top up cover. However, the bills must remain within the sum assured to enjoy this facility.
List of Top-up Cover Providers
- Apollo Munich Optima Plus
- Bharti Axa High Deductible Health Insurance
- Bajaj Allianz Extra Care
- ICICI Lombard Healthcare Plus
- United India Top up Health Insurance
- Star Health Super Surplus
Super Top-up Cover Providers
- United India
- HDFC Ergo Health Suraksha (Offering the cover primarily to HDFC Bank customers)
Now that you understand the concepts of top up and super top up plans, make sure you opt these to enhance your cover and give you a sense of relief against the soaring expenditure on hospitalization.