A top-up health insurance policy is additional coverage for individuals with an existing individual plan. It is for reimbursement of expenses which emerges out of a single illness past the limit of the current cover.
When you are hospitalized, the insurer will settle up to the set total insured limit. The top-up, then again, will kick in solely after a specific sum, like, say, Rs.2 lakh, has been crossed. It'll pay for the claim sum well beyond it.
Top up insurance plans are reasonable and more efficient than basic health coverage. These can likewise be brought with the health coverage provided by your employer. Many people get confused about top-up and the riders as the same. Health insurance companies' top-up plans are just reimbursement schemes with a regular cover.
Top up insurance plans are reasonable and more efficient than basic health coverage. These can likewise be brought with the health coverage provided by your employer. Many people get confused about top-up and the riders as the same. Health insurance companies' top-up plans are just reimbursement schemes with a regular cover.
Essentially, top-up coverage resembles a reimbursement plan, which gives the same advantages as a basic reimbursement health insurance plan.
The main distinction is the expense of deductibles that make these policies affordable. Also, pre-medical screening isn't needed for up to 55 years in a top-up plan. Also, in a large portion of the other basic health insurance policies, it becomes mandatory after 45 years old.
If your basic plan arrives at the limit, the claim for both top-up and individual health plans can be filed together. What's more, without much of a stretch, you can get the two of them from different insurance providers, who will be responsible for taking care of the part of their claims.
The higher the deductible, the less expensive will be the policy. Yet, top-up health plans are intended to overcome any barrier between existing policies and actual expenses. The thought isn't to duplicate yet purchase the additional cover at a sensible cost. Exclusions, such as daycare and dental treatment, won't have a significant effect as your base health policy will deal with them.
Also, remember to check the deductible criteria for single illness, waiting period for existing diseases, limits comprehensive of donor expenses, and pre-and post-hospitalization costs.
Typically, a single hospitalization cover is given in top-up health insurance plans. Your top-up plan becomes effective when your hospital bill surpasses the deductible limit (during the hospitalization).
In this way, if you make two claims in a year of Rs. 1 Lakh and 2 Lakh, your top-up plan has a threshold limit of Rs. 3 Lakh, then it won't be set off. The same is the situation in a family floater plan where two individuals are hospitalized. The medical clinic bill is Rs. 2 Lakh each.
If the ailment is relapsed in no less than 45 days of discharge, then it will be considered a single illness. Furthermore, if there is re-hospitalization after 45 days of discharge, it will be regarded as a fresh illness. You can avail the benefits of a top-up health plan if the deductible limit is surpassed.
