Your Companion in Understanding Top-Up and Super Top-Up Covers

In a world dealing with pandemic, a health insurance policy is critical in such times. Health is no longer just any ordinary priority of life but instead, takes the top spot. Thus, it is not advisable to ignore a health insurance policy. Even more, a health insurance plan is recommended at an early age for the varied benefits it offers. Any unexpected medical emergency that can tumble your finances can be conveniently managed with a robust health insurance policy.

But as you opt for a more inclusive mediclaim plan, the premiums are accordingly priced. Thus, many buyers choose to buy a plan that offers a lower sum assured. These plans are often inadequate in the financial coverage they offer when a major treatment is required. Hence at such times, additional insurance coverage comes handy. These extra insurance plans are in the form of a top-up and super top-up policy.

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What is a top-up health insurance plan?

A top-up plan is an insurance policy that offers coverage in addition to the standard health insurance plan. When you feel your health insurance cover is starting to fall short considering the medical inflation, a top-up policy is a handy alternative. Instead of choosing a fresh insurance plan, these top-up plans allow you to continue your existing insurance plan with an additional insurance coverage for the incremental amount. Thus, it helps to compensate for the insufficient medical coverage. While it is difficult to estimate the rate of medical inflation, a top-up plan is a smart way to stay on top of such increase.

You can buy a top-up plan either as a standalone policy or in combination to a base health insurance plan. Nevertheless, it works best when combined with an existing health plan. This way, your family floater health insurance bought a couple of years ago can be easily enhanced based on the surge in treatment costs.

When you buy top-up plans, it is important to note that these policies have a high deductible amount. Hence, it is also known as a catastrophe policy since it comes into the picture only after a specified threshold is crossed i.e., the deductible of the plan. Deductible is that portion that you, the policyholder, needs to pay before the insurance coverage kicks in. Considering such high deductible, it is best when combined with an existing health insurance plan. * Standard T&C Apply

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What is a super top-up plan?

Super top-ups are an extension of the concept of a top-up policy. While the top-up plan kicks in only when a single claim exceeds the amount of deductible, a super top-up policy is effective for the treatment cost in aggregate, i.e., even if individual claim does not exceed the deductible, the supe top-up coverage begins when the aggregate claim amount exceeds such threshold. Moreover, such super top-up plan lapses only when the sum insured is exhausted as opposed to a top-up policy which lapses after a single claim even if the entire sum assured isn’t used. * Standard T&C Apply

While these are the different way to enhance the coverage, it is best for you to understand what is health insurance and only then purchase the policy. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.