Health insurance has become a must for everyone owing to the ever-rising expenses of medicines, hospitals, ICU, etc., who wants to have at least one medical insurance plan in place for the security of him and his/her entire family. If you wish to one health insurance plan that covers your family’s financial, medical needs, you must go for the Family Floater Health Insurance Plan. However, several other plans can help you cover other medical conditions such as critical illnesses, high individual cover, group insurance, and more.
To cover your varying needs, there are numerous other medical insurance plans such as Individual Health Insurance Plan, Critical Illness Health Insurance Plan, Senior Citizens Health Insurance Plan, Top-Up Health Insurance Plan, and more. All the plans provide some standard benefits like giving cover for pre-and-post hospitalization, cashless transactions, cover for medical check-ups, etc. To know more about these plans, you can visit Bajaj Finserv’s website. The plans can be procured online at affordable premiums, and high sum insured.
What is a Top-up Health Insurance Plan?
One of the plans that provide added benefits over your already existing medical insurance cover is the Top-up Health Insurance cover which provides additional cover other than the existing one. So, for instance, you have an Individual Health Insurance Cover in place. You can also avail of a Top-up insurance cover which will provide an additional sum insured of anything between Rs. 5,00,000 to Rs. 50,00,000 based on your preference.
A Top-up health insurance plan can cover up to 6 family members, helping you have more comprehensive coverage over your already existing insurance plan. One of the significant benefits is that a Top-up cover allows you to lower the waiting period for a pre-existing health cover to 12 months. It covers maternity expenses, organ donor expenses and also provides an ambulance cover.
Is Top-up Health Insurance Dependent on Primary Cover?
A Top-up health insurance cover has two main things considered while raising claims- (a) sum insured (b) deductible limit. While we all know what the sum insured is, a deductible limit is the set limit to which the insurer is not liable to pay. So, whether the additional claim over your already existing plan will be covered or not is dependent on the deductible limit of your plan.
Every claim is taken into consideration independently against the deductible threshold. This means that every time you raise a claim, the deductible threshold will be the lower limit always. Only after your claim amount exceeds the deductible threshold, that the claim will be settled. However, if you do not want this to happen, you can consider procuring health insurance that does not have a generic deductible threshold. The yearly claims aggregate is considered the deductible threshold within the policy year in such a cover.
Top-up plans are not reliant on the primary cover
This means that irrespective of whether you have exhausted your primary insurance claim or not, you can still opt for a top-up health insurance cover. The only thing to consider is the deductible threshold amount as mentioned above. It is always advisable to buy a top-up insurance cover with a low deductible threshold limit and then divide your claim between primary and top-up insurance plans.
A top-up insurance plan works as an additional cover for the enormous medical/hospital expenses incurred in treatments for long-term illnesses. While your regular insurance covers may be sufficient, they still cannot cover the extensive medical expenses that can arise anytime due to a medical complication or otherwise. But with a top-up plan, you are entirely safe against extra costs as well.
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