Now, we all know how beneficial health insurance is. One medical emergency can wipe out your savings accounts. Having health insurance ensures that this does not happen. Your insurer is your financial safety net. They put forth either all the money or a part of the money for your treatment. Depending on the insurer you choose, you also get a range of covers.
But what if this is not enough? Suppose you bought insurance years ago. Healthcare costs are continually rising. So you no longer feel secure with your sum assured. But you also do not want to buy a whole new insurance plan. In this case, you can choose top-up health insurance instead!
A top-up plan gives you additional coverage if your insurance runs out. Suppose you have been hospitalised and your insurance policy covers Rs. 10 lakhs while your top-up cover is Rs. 3 lakhs. If your hospital bill is Rs. 13 lakhs then your insurance and top-up together cover your entire treatment.
Meanwhile, if your hospital and treatment bills exceed Rs. 13 lakhs, you will have to pay the difference out of your own pocket.
Top-up health plans are excellent because they are generally cheaper than buying a whole new plan. This means that the insured does not need to upgrade their current health plan or worry about purchasing a brand new policy. The top-up policy continues to give them the security they need.
The three main reasons why there is a need for top-up health plans:
Before ending this section, we need to explain a key feature of top-up plans: deductibles. We already referred to a cut-off point multiple times in the three primary needs. These cut-offs are also called deductibles. Deductibles basically determine when you can claim your top-up insurance.
E.g. if you have Rs. 5 lakhs sum insured through your top-up health insurance with Rs. 3 lakhs deductible, you can only claim your top-up insurance if your bills exceed Rs. 3 lakhs. Your primary health insurance will need to cover anything less than that.
While we will explore more features and benefits soon, this is a basic understanding of top-up plans. Our experts at Cover 360 know the complete inn and outs of these plans. So they also know which top-up plan is best suited to your needs!
Top-up health plans exist for people seeking more out of their insurance. They operate on the premise that if you run out of your current coverage, you can dip into your top-up coverage. As long as you meet the deductible limit, you remain covered.
Today, more and more people are buying top-up health insurance. Now, this could raise some questions. Particularly, the question why. If someone is dissatisfied with their current plan, shouldn’t they simply choose a new plan? A plan with more coverage? While that is a good idea, a lot of people choose top-up insurance precisely to avoid buying a new plan. Buying a new plan incurs higher premiums. Due to the high deductibles in top-up plans, the premiums are typically lower. This makes them more attractive. So what are some general advantages?
As we discussed, deductibles make top-up plans cheaper. The higher the deductible, the cheaper the policy. Therefore, you get excellent, extra coverage at a more affordable cost.
Regular health insurance policies may require you to pay a nominal cost if your coverage ends and you want to extend it. Getting a top-up plan is better because it increases your scope of coverage while ensuring you remain covered.
One of the best parts of top-up plans is that they do not need to be purchased from your existing health insurance provider. You can get top-up health insurance from a completely new insurer. This allows you to explore your options better and see what other health plans are out there.
You have both family floater and individual options for top-up plans. You can choose the best one as per your needs.
You get tax benefits under Section 80D of the Income Tax Act.
Cover 360 takes all these advantages into account when determining the ideal policy for you! This way, we ensure you get the most out of your top-up health insurance!
Top-up health plansact as padding for your existing health insurance. Although they can be purchased even without existing health insurance, they are less effective this way. You only get their true benefits if you get them in addition to your existing healthcare policy.
Their rising popularity due to their features and benefits means several insurers now offer top-up plans. But what does this mean? What are these features and benefits? What sets top-up health insurance apart from regular health insurance policies?
Our expert analysts at Cover 360 understand all the features and benefits thoroughly. With this in mind, we bring you the ideal top-up health insurance policy that best benefits you!
Top-up health plans are often chosen by people who want a little extra security. If they feel like they want more financial coverage from their health insurance policy but do not want a new policy, they choose top-up health insurance. This makes perfect sense and has made this kind of health plan exceedingly popular today.
Therefore, the question of what to think about when choosing a top-up plan arises. One of the obvious answers is coverage. You need to know what your healthcare policy covers before getting it. Simply choosing a plan because it is cheaper is not a good plan. So we put together a list of things that top-up health plans generally cover. That said, this is a very general list, and the real coverage differs from plan to plan.
Checking the specifics is crucial before you make your decision. Luckily, this is why Cover 360’s analysts are here! We look at the coverage provided by every plan and determine what suits your needs. Then you can either choose that policy, or we can pair you with a different one - it is entirely up to you!
Top-up health plans are popular today for several reasons. They offer extra protection, a higher assured sum, are often cheaper than regular health insurance plans etc. This makes them attractive for people seeking additional coverage. If they feel their current sum assured is not enough but do not want to incur a higher premium by changing their policy, they choose top-up health insurance instead.
However, such understandings of the top-up health plans have also created misconceptions. When deciding to go in for a top-up plan, you need to be completely clear about what the plan offers.
A top-up plan is not a rider policy. A rider is typically an add-on to your existing health plan. Rider policies include accident insurance. They need a base plan. You do not need a base plan for a top-up plan.
A top-up plan offers the same kind of exhaustive coverage that your regular healthcare plan offers. It is just at a cheaper rate and for lower premiums because of the high deductibles.
Understanding deductibles is very important. They are the limits to your health insurance. When your treatment exceeds this limit, your top-up policy covers it. So choose your plan wisely.
Since the plans are considered low-risk, there is often no need for pre-medical screening up to a certain age. You also get free-look periods during which the policy covers you without incurring any costs.
If your hospitalisation and treatment costs exceed the sum assured of your regular policy and meet your top-up policy’s deductible limit, you can file the claim for both policies together. This way, you get reimbursed from both policies together, therefore increasing efficiency.
At Cover 360, we take great care to bring you the top-up health insurance that will offer you the most. This way, you will always be safe and never sorry!
Top-up health plans have several benefits, as we have already discussed. They give you and your healthcare more security, especially in trying times. They help your financial situation and prevent you from incurring major losses. The best part? They are cheaper than regular health insurance! While this is because of the deductibles, they are still very attractive due to this.
More people are choosing top-up health insurance today than ever before. More providers offer top-up plans, too. The fact that you can purchase them even without a base health policy is just another advantage. So, how do you know when you can use a top-up plan?
Cover 360 believes in helping you every step of the way. Therefore, if you have any questions about top-up health plans, we are always here to answer!
Top-up health plans, as the name suggests, add to your current health plan. Therefore, while you may have an existing healthcare policy, you may want more coverage and protection at a cheaper rate. A top-up health insurance policy helps in this case.
There are certain things to keep in mind when choosing your top-up health plan. The primary thing is your reason behind choosing it. For some people, a top-up health plan is about getting a cheaper policy. For others, it may be about added coverage. There may even be a third criterion of people who choose it to try out a different insurance provider. Whatever your reason may be, it is crucial that you are crystal clear about it before browsing.
So, how do you select a plan?
These are just some of the things you need to keep in mind when choosing your top-up plan. Luckily, the specialists at Cover 360 are right here keeping it in their minds along with you! We help guide you towards top-up health plans that give you the greatest advantage!
Top-up health plans may have many advantages, but not everyone knows how to use them. A lot of people assume that they know what they are doing. They think they understand top-up health insurance completely. But they can be very wrong. Knowing the theory behind a top-up plan does not make you an expert in practice. You may still need help figuring out how you can make the most of your plan. Or you may think you are making the most of your plan when, in fact, you are not.
So how do you make the best use of your top-up health insurance? How can you properly reap the benefits of top-up health plans?
While you can choose a top-up plan without an existing health insurance policy, this is not a good idea. Having a health insurance policy offers higher coverage.
The deductible is the limit you need to exceed for your top-up insurance to come into effect. E.g. if your deductible is Rs. 3 lakhs, you need to reach Rs. 3 lakhs or higher per hospitalisation for your top-up plan to cover. If your health insurance base sum is Rs. 3 lakhs, then you will not pay anything.
Your top-up plan should never be your primary health insurance. It should always be an add-on. Otherwise, you might end up paying more than receiving.
Apart from the financial aspect, you also want your plan to offer optimum coverage. Check the inclusions and exclusions. Examine your family history. Choose your plan accordingly. Especially if you are getting a top-up plan from a different insurance company, you need to keep this in mind.
Top-up plans are financially wise decisions. They offer greater coverage for you and your family at a cheaper price. But you need to keep these factors in mind to make the most out of your plan. Luckily, you have our experts at Cover 360 keeping these in mind for you! We choose your plan ensuring that you can make the most out of it, in the times of health crisis!
Top-up health plans have established their popularity as desirable insurance plans. However, that has not stopped the rise of another kind of top-up health insurance: the super-top up plan. Potential buyers know that both these options exist but do not know how they differ. Even if they do know the difference, they do not know how to choose the right one. Well, that is why our insurance experts are here to help you learn the difference and determine which plan suits your needs!
So, what are the differences between top-up and super top-up plans?
In a top-up plan, once the base sum assured is exhausted, the policy can only be reused with a contribution from the policyholder.
E.g.: The sum assured for base policy is 5 lakhs and the top-up is 5 lakhs too. Now, the policyholder makes the first claim for 8 lakhs. The base sum assured can be used along with 3 lakhs from the top-up against the claim. In case the next claim occurs and it is of 5 lakhs, then the balance top-up amount of 2 lakhs can only be used if the policyholder pays 3 lakhs from their own pocket to activate the top-up.
In a super top-up plan, the policy lapses only once the policyholder reaches the maximum limit which is the total of base sum assured and the super top-up amount. He/she can keep using the super top-up until then.
E.g.: If the person holds a base policy of 5 lakhs and a also super top-up of 5 lakhs, he/she can claim any amount up to 10 lakhs, and keep making next claims as per need until this amount is completely exhausted. There is no need to pay from the pocket to activate the super top-up.
That said, in both cases, the premiums are cheaper. They are both, therefore, very desirable insurance options.
Cover 360’s expert analysts understand these differences and use such parameters to choose the ideal plan for you. Depending on what you are looking for, we pair you with the top-up plan that gives you the maximum benefits at the minimum limitations!
Top-up health plans clearly have a lot of advantages. But getting the full depth of benefits is difficult. Although top-up health insurance seems easy to understand, there are so many factors that play into how you can choose the right one for you. It may give you additional coverage and everything that you need to make your health policy better and utilise it thoroughly. But you are still susceptible to mistakes. After all, like every other shopper, after looking at the third or fourth policy, you may get tired and may not be motivated enough to find all the details. You may choose something completely unsuitable because you do not know what to look for. When everything sounds good, where do you draw the line?
Well, that is where we come in! Cover 360 helps you choose the ideal policy, perfect for all your needs! How, you ask?
At Cover 360, we believe in being dependable and trustworthy. You deserve the best, and we promise nothing less!