Getting a health insurance policy is a must if you want to remain carefree irrespective of having some health issues or concerns. Health insurance plans ensure that your finances are protected during a medical emergency and might even compensate for the loss of income that you may face due to an accident or injury. Purchasing a comprehensive medical insurance policy is not everyone’s cup of tea as it can cost a hefty premium. However, you don’t need to worry as you can get sufficient medical coverage even by subscribing to some top-up health insurance plans. The benefits of availing of a top-up health insurance plan are described below:
Protects you from deductibles
If your medical expenses exceed the coverage amount up to which your health insurance policy can provide, the extra amount is known as deductible. You will have no option other than paying this deductible if the medical costs go above the sum insured that your policy offers.
However, you can get a top-up health insurance plan that increases or doubles your sum insured when required. With such a top-up health care policy you don’t have to worry when your medical bills are much above your expectations.
Super top-up plans
An ordinary top-up health care plan will prove to be useful only if the hospitalization costs exceed the deductible limit. However, if you get hospitalized several times in a year and if the medical expenses do not exceed this limit each time, your top-up plan will not come into play even if the total medical expenses are well over the set yearly limit. A super top-up plan will ensure that your entire expenses are covered by considering the total of all the medical bills that are incurred a year.
For example, if a regular health plan provides coverage only for two hospitalizations in a year, you will not get coverage for the third time irrespective of whether you have a top-up insurance plan or not. However, as a super top-up plan provides coverage for the total medical expenses in a year, it will provide coverage for your third hospitalization as well.
Maximizing benefits through top-up plans
It is not mandatory that you purchase a top-up health insurance policy from the same insurer from whom you had purchased your regular health care plan. However, it is recommended that you get both plans from the same insurer for maximizing the benefits during a hospitalization.
For example, if your regular health care plan offers a cashless treatment facility but the amount has exceeded the limit offered by your insurance policy. Now, you will have to pay the remaining amount from your pocket if the top-up insurance plan does not enlist that particular hospital under the cashless benefit. However, if you have taken both the policies from the same company then the chances of total cashless treatment will be quite high.
Covering critical illnesses
If your regular health care plan does not offer coverage for critical illnesses, you can use a critical illness policy as a top-up insurance plan. Similarly, if your existing policy does not include a maternity cover then you can get a maternity cover as a top-up plan.
Some of the best health insurance plans are available on the portal of Bajaj Finserv. You can also find several top-up insurance plans on their website and some of them may suit your medical requirements. The details of the top-up insurance plans, eligibility, and exclusions will be mentioned here and this will make it easier for you while selecting a top-up health insurance plan.