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Importance of opting for top-up Health Insurance Policy
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Importance of opting for top-up Health Insurance Policy

A health insurance plan plays an important role in providing coverage for health illnesses to ensure high protection from high medical expenses. Nowadays, different types of plans are available in the markets today that aim to cater to policyholders’ needs. At the same time, one should evaluate them with more attention, which will help select the right plan accordingly. Moreover, choosing the right health insurance policy enables a person to get better coverage for medical treatments after getting admitted to a hospital. 

Medical inflation is increasing in the markets day by day, and there’s been a steady rise in the cost of medical treatment. Therefore, a policyholder may face difficulties in managing them that require an alternative option. An existing policy won’t provide enough coverage for rising medical costs, and policyholders should consider choosing a top-up option for this purpose. A top-up plan makes feasible ways to get additional coverage when an existing policy gets exhausted or proves insufficient for medical treatment. Many insurance companies offer top-up plans for customers, and they can pick the right one based on their choices. 

What are the advantages of buying top-up plans?

  • The costs of top-up plans are cheaper when compared to general health insurance policies when the deductibles are high 
  • Policy buyers can select a plan with a regular health insurance policy 
  • The sum insured amounts apply to both individual and floater plans 
  • Tax deductions under section 80D 
  • Covers all treatment costs due to hospitalization 
  • A policy buyer can buy a top-up plan even if he/she doesn’t have a basic medical facility 
  • No pre-medical screening required up to a specified range 

What are the types of top-up plans?

Top-up plans are available in top-up plans and super top-up plans allowing policyholders to focus more on their objectives in the coverage process. On the other hand, the benefits are the same, which will help a lot gain more advantages. For example, a top-up plan only covers single-claim hospitalization bills above the threshold limit. On the other hand, a super top-up plan covers complete hospitalization bills above the threshold limit.

Knowing the deductibles in top-up plans

Before buying top-up plans, customers should know more about the deductibles in detail that will help make the right decision. Deductibles are limits set by health insurance companies, and policyholders should bear them while choosing a plan. Then, an insurer will pay the remaining amount to a policyholder up to the sum insured limit.

What are the things covered in a top-up plan?

The top-up plans offer coverage for various things, and policyholders should know more about them in detail. Some of them include:

1. In-patient hospitalization 

A top-up plan offers coverage for in-patient hospitalization that will take care of expenses such as boarding charges, room rent charges, doctor fees, cost of oxygen, prosthetic devices, diagnostic procedures, etc.

2. Pre-hospitalization and post-hospitalization 

The top-up plans offer pre-hospitalization coverage for 60 days allowing policyholders to claim amounts for expenses. Policyholders can also get post-hospitalization coverage for 60 days.

3. Daycare procedures

Most top-up plans offer coverage for daycare procedures that don’t require hospitalization in less than 24 hours.

4. Organ donor expenses 

Some top-up plans provide coverage for organ donor expenses when a policyholder needs transplantation

5. Domiciliary treatment 

Domiciliary treatment is home treatment when a policyholder wants to undergo treatment in the home under the supervision of a doctor. 

Things to consider while buying a top-up plan 

Policy buyers should keep certain things in mind when buying the best health plan in India, including top-ups that will help make the right decision.

1. Waiting periods

The waiting period of top-up plans for pre-existing illnesses may vary from the base plan, and policyholders should understand them properly.

2. Sub-limits and clauses 

A top-up plan comes with certain sub-limits and clauses that might restrict the coverage amounts. Therefore, policy buyers should consider assessing super top-up limits with more attention to overcome problems in the coverage process.

3. Cashless networks 

The hospitals that offer cashless claims might differ from a base plan, and the policy buyers should check the list of hospitals from different sources. A policy buyer should consider evaluating the list of network hospitals carefully when he/she wants to select a top-up plan.

4. Premium

A policyholder should know the health premium costs before buying a top-up plan. This, in turn, gives ways to select a plan that suits the requirements and budget.

5. Terms and conditions

Policy buyers should consider reading the terms and conditions of plans because they might vary from one insurer to another insurer in a location.

6. Floater option 

A policy buyer should check whether a top-up plan comes with a floater option. This will help a lot to get coverage for spouses, parents, children, and grandparents under a single policy.

7. Exclusions

Top-up plans come with exclusions, and policy buyers should evaluate them properly before investing money.

Knowing the best top-up insurance plans in India 

Several insurance companies offer top-up insurance plans in India at the best prices allowing policy buyers to save more money. Customers should consider comparing them online to help pick the cheap and best health insurance in India based on their choices. Another thing is that it gives ways to ensure wide coverage for health illnesses to ensure maximum protection from the financial burden. Working with the right insurance company allows a policy buyer to ensure the right coverage for illnesses and other things.

Is it wise to buy a top-up insurance plan in India?

Both top-up and super top-up health insurance plans will help a policyholder to fill the gap between actual hospitalization and increasing medical costs. Not only that, they give ways to claim amounts for major illnesses that will reduce the financial crunches. However, it is wise to evaluate the features, deductibles, and clauses before purchasing a plan. In addition, having the right type of top-up plan enables a policyholder to overcome unwanted issues during medical emergencies.

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