Do you have health cover?
Drastic changes in lifestyle and high medical costs are making it imperative to ensure the health and financial safety by taking significant precautions. Efforts are being made to make people aware of the benefits of a healthy diet, exercise and maintaining wellbeing through yoga and physiotherapy sessions. But, even when these services are easily accessible at least in urban places, there is no guarantee that health problems will not arise. Even youngsters between 25 and 30 years of age group are at risk of developing ailments like heart problems, asthma, diabetes, etc. All such illnesses require proper treatment and regular check-ups. Mostly, people avoid regular check-ups as they consider it as a complete waste of money. However, any delay could prove to be costly in the long run, if God forbid, the medical condition turns into a serious ailment.
So, what is the solution? Insurers suggest availing a regular health insurance policy as per one’s requirements. Suppose a person avails a health plan for Rs 5 lakhs, it might seem on the surface that all the medical costs, including hospitalization, will be covered and there is no need to worry! But is it so, really? In reality, a single hospitalization or multiple hospitalization in a single year might put a strain on one’s pockets as the treatment costs might go beyond the coverage.
So how can one expand the health coverage in such a situation? Getting an increased sum insured or availing another regular policy will raise expenses as the premium amount will rise. If a person needs to increase the health cover at nominal rates, a super top-up health insurance plan is the best way to do so.
What is super top-up health cover?
A super top-up cover offers health coverage that comes with a threshold or deductible limit. It means the policy will cover expenses only if they cross the threshold limit as mentioned in the policy document. Unlike a top-up plan, a super top-up plan considers the total medical expenses in the policy year and not the single instance of expenses.
Advantages of super top-up policy:
Available at nominal premium rates
A super top-up plan is available at nominal premium rates in comparison to a regular policy. This is because it comes with a threshold limit and is applicable only if the total expenses in a policy year exceed the limit.
Can cover multiple claims:
The policy works on the aggregate claim amount and thus, covers multiple hospitalization cases in a year.
Can be availed as an independent plan:
It is not necessary that one should have a mediclaim policy to buy a super top-up plan as it can be availed as an independent policy to cover expenses beyond a certain limit.
Can be purchased from two different insurers:
It is not necessary to buy a super top-up plan from the same insurer from whom you have bought your health insurance policy. It means, you can buy your super top-up plan and health insurance policy from two different insurers.
How a super top-up health insurance works?
Basic Information: Mr. Verma has a regular health insurance policy of Rs 5 lakhs as the sum insured. He avails a super top-up plan of Rs 10 lakhs with Rs 5 lakhs as the threshold or deductible limit.
As we can see from the above table, super top-up health insurance policies increase the health coverage and are the best mediclaim insurance policies which can be used during emergencies.
Given the rising hospitalization costs, merely having a basic health insurance policy is not enough. You have to go an extra mile to save yourself and your family from soaring medical costs. It is here a super top-up plan can help you!
Disclaimer:Healthcare and mediclaim is an individual decision and needs careful discussion and research before taking any decision.The author is sharing her personal experience .This post is meant as educational information and all insurance decision to be taken at own risk after consulting insurance advisor.
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Updated October 2018