Friday 24 May 2024
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Why You Should Consider Health Insurance Top-Up Plans

Why You Should Consider Health Insurance Top-Up Plans

When it comes to a vehicle you own, you know there is an insurance plan, which covers for any damages to the vehicle. But, what about your health? Do you have a health insurance plan that offers comprehensive coverage to you? What will happen if you exhaust the cover?

A health insurance policy is the answerto the above questions! A regular health insurance plan will provide for the medical bills in case of hospitalisation. Incase of any expenses incurred over and above the limit on the medical insurance plan, you will need to have a topup health insurance.

A health insurance top-up plan will provide for the cost over and above the threshold limit.

How does it work?

You need to understand how a top up health insurance planworks. Let us explain with an example. You have a health insurance cover of INR 500,000. Incase the expenses due to an ailment exceed the amount of INR 500,000, the balance amount will have to be met by you from other sources.

Now, if you have a top-up health insurance plan, it will meet the expenses over and above the amount of INR 500,000. If the medical bills reach an amount of INR 750,000, the additional 250,000 will be covered by the top-up health insurance plan.

Once you exhaust the given limit in your regular medical plan, the top-up plan will come into play. 

Why do you need it?

You need to understand that the top-up deductible will be available only when you use the original health insurance premium. The top-up insurance will provide you with additional coverage over and above the cover that you have.

It is possible for you to claim from the medical policy and the top-up health insurance in case of a single hospitalisation incident. A health insurance top-up plan will give you an extensive coverage and you will be able to benefit from the same after exhausting your medical policy limits.

You will not have to incur the cost of medical expenses or hospitalisation bills out of your pocket.

Another benefit of purchasing top up health insurance plans is their nominal premium rates. 

How to choose the best plan?

In order to choose the besthealth insuranceplan, you need to make a well-thought decision. You cannot simply make a buying decision based on the premium amount of the plan. If you have a higher deductible amount, your premium amount will be lower but you should not make a decision solely on the cost.

 You need to compare the features and the benefits offered by top-up plans and choose the one that fits your needs. You should remember that the purpose of buying a top-up plan is not to have another medical policy under your name but to have an extensive coverage for your health.

This is why you need to compare health insurance plans and understand their features before making any decision.

You need to choose a plan that is an ideal fit for your health and financial requirements. Take out time and research the market for different top-up plans.Choose the one that offers a comprehensive coverage and that has a number of benefits.

The plan should be an umbrella for you when you exhaust the limits of your health insurance.