Know How A Super Top Up Health Insurance Plan in India Can Be Useful To You

Health is wealth indeed, especially considering how much money a healthy person ends up saving if they don’t need to take costly treatment for diseases. But good health is a relative term — a person that seems fit and healthy might have an underlying disease that they are unaware of. Or a person might be the unfortunate victim of an accident and require a long hospitalisation stint.

Healthcare costs have risen astronomically in India over the last two decades. Those wishing to protect their income against these high costs buy health insurance. And those who realise how inflation can beat all present-day calculations, take a super top health plan.

What are Super Top Up health insurance plans?

As the term implies, the ‘Super Top Up’ policy offers an additional, or top up coverage, over and above the sum assured ingrained in your existing health insurance policy. Your existing health insurance comes with a pre-set sum assured amount vis-à-vis the premium and riders you choose at the time of purchase.

The sum assured on the plan is consumed when you are hospitalised for treatment. Once this amount is used up in full, the policy cannot pay for further hospitalisation or treatment in the same year. This is where the Super Top Up coverage comes in — it kicks in once the sum assured of your health plan is consumed or too low to pay for a second or third claim. It usually offers an additional pay-out of at least Rs 3,00,000 depending on the policy terms and insurance provider. You can pay a higher premium for an additional coverage up to Rs 30,00,000.

Thus, the Super Top Up health insurance plan is useful in terms of increasing the threshold limit for your hospitalisation and treatment in one year. It covers all the hospitalisation and treatment bills above the threshold of your health insurance policy.

Who should get it?

If you already have a sizeable sum assured in your health insurance plan, then you may not need the top up coverage. But do consider that what you consider ‘adequate’ coverage today might not be so a few years later. The costs of medical treatment in India keep rising exponentially every year, so there is no way to predict if the sum assured in your policy is sufficient for future needs.

Meanwhile, one cannot predict if they will or will not develop illnesses or diseases that require frequent hospitalisation. If you do, then your health insurance by itself may not be enough to pay — this means that any second or third hospital stay must be paid out of your own pocket. But a super top up coverage can protect your income against such an eventuality.

What are its benefits?

· The biggest benefit of the Super top up health insurance coverage is that it increases your spending power in terms of being able to afford repeated hospital visits and treatments.

· Another benefit is that it covers you and your family members. The biggest health insurance companies in India extend these plans to the primary insured, their spouse, children and dependent immediate family members on both individual and family floater basis. Dependent family members include parents, siblings, grandparents, grandchildren, parents-in-law, daughter- and son-in-law, and even uncles, aunts, nephews and nieces.

· The premiums on the super top up health plan are quite low. Leading health insurance companies offer these plans for premiums as low as Rs 1,770 per year.

· The policy beats future inflation with a guaranteed cumulative bonus. Every year, you get at least 5% increase in the sum assured up to a maximum of 50%, no matter how many claims are made against it.

· The best super top up health insurance plans give you the liberty to choose the best treatment, including any room category in member hospitals.

You can buy this plan even if you don’t have a health policy at the moment. However, you can use the benefit of the top up plan only after you finish paying the earlier expenses out of your own resources till you exceed your deductible limit. Hence, insurance companies ask you to buy a good health insurance plan with top up coverage.

Punekar, Finance Student, Foodie, Travel & Pet Lover

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