Super top-up health insurance
A super top-up health insurance is like an extension of your current health insurance. You can use it when you have exhausted the maximum claim amount in your corporate insurance or when you are fine to pay some amount from your pocket and need an insurer to cover when things get pricier.
A super top-up plan covers claims for cumulative medical expenses made in a policy year after the deductible is exceeded.
Difference between top-up and super top-up health insurance
A top-up health insurance plan offers additional coverage to you without needing to buy an additional policy when you already have a medical insurance plan. A top-up plan covers expenditure that arises out of a single illness over and above the existing base cover. Thus, a regular top-up only covers claims when a single claim goes above the deductible.
Below are features of a top-up plan:
It offers additional coverage when you exhaust your primary health policy coverage
Premiums on top-up plans are less than half of family floater insurance plans
A super top-up plan offers medical cover when multiple claims go beyond the threshold limit of the insurance cover. A super top-up plan considers the total of all bills submitted, regardless of whether they are for single or multiple illnesses.
Below are features of a super top-up plan:
It helps you when you need to make multiple claims in a year and the total claim exceeds your base health insurance plan cover
You can make multiple claims until you exhaust the entire sum insured offered by your super top-up plan
Importance of super top-up health insurance in the times of coronavirus
With the outbreak of the coronavirus pandemic, many people have realised how important it is to have a large medical insurance cover. Some people do not buy health insurance for their high premiums. Many others, to counter high premium rates, buy comprehensive family floater health plans that offer a lower cover.
The group insurance cover provided by companies to employees is insufficient to meet their family requirement. In this situation, a super top-up medical plan can get one a higher cover at lower premium outgo.
Top-up health insurance benefits
A top-up plan gives additional coverage when you exhaust the coverage from your primary health policy. When your hospitalisation expenses cross your health insurance coverage limit, a top-up plan comes to help.
For example, you are covered with a family floater cover of Rs 3 lakh under a group insurance plan offered by your employer. Now if you buy top-up health insurance of Rs 5 lakh, in case of hospitalisation of any of your family members, if the hospitalisation bill crosses Rs 3 lakh, the additional amount over and above Rs 3 lakh will be paid by the top-up health plan. Only the first Rs 3 lakh will be paid by your employer’s mediclaim policy.
The health insurance benefit of having a top-up health plan is that you get an additional cover at a lower premium. For example, where a family floater health insurance for a four-member family for 5 lakh sum assured costs you between Rs 12000-Rs 15,000 per annum, a top-up plan of additional Rs 5 lakh will cost you Rs 6,000-Rs 7,000.
Note that a policyholder can buy a top-up plan from any other company. Also, a top-up plan is available for both individual plans as well as family floater plans. Again, a top-up plan offers you an option to enhance coverage and add new members at the time of renewal. If you want to make multiple claims in a year, opt for a super top-up health plan.
Super top-up health insurance benefits
A super top-up health insurance plan is suitable for you when you have to make multiple claims in a year and your total claim exceeds your base health insurance plan cover. When your sum assured gets exhausted because of multiple claims, a super top-up plan can pay for your hospital bills.
For example, say you have a family floater plan of Rs 5 lakh and you also have a super top-up plan of Rs 10 lakh with a deductible of Rs 5 lakh. In case one of your family members gets hospitalised, and you make a Rs 6 lakh claim, Rs 5 lakh will be paid by your base plan and Rs 1 lakh by the super top-up plan. Now, if you make another claim of Rs 7 lakh later that year, the entire amount will be paid by your super top-up plan.
Note that you can make multiple claims in a year until you exhaust the entire sum insured with a super top-up plan. Also, note that your base plan cover should be equal to the deductible of the super top-up plan.