*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
It is rightly said- ‘Health is Wealth.’
In the modern age and time, we want to earn money, become a wealthy person and lead a good lifestyle. In this race to fulfil our dreams and desires, we unintentionally ignore or neglect our health and well-being. This lack of attention often takes a toll on our health. Eventually, our health gets affected and we get exposed to various diseases.
Due to medical inflation, the healthcare expenses have become unaffordable for a majority of people. This is where health insurance comes to the rescue. In order to keep healthcare expenses at bay, many people buy a health policy for their family.
A health insurance policy protects you from the unforeseen medical treatment costs that you or your family might need in the future. Health insurance in India is offered by almost all insurance companies. It provides either cashless medical treatment or reimbursement of the medical expenses incurred for covered treatment.
Health insurance in India is available in different types such as individual health insurance, family floater health insurance, senior citizen health insurance and more. These varieties depend on various factors such as the age of the insured, sum insured, the features and benefits offered and so on. Usually, the tenure of a health insurance policy is set for one year. Having said that, you can buy a health insurance policy for up to three years.
Buying a health insurance plan proves to be beneficial in the long run as there is no certainty of anything in this modern life. Health insurance in India provides the much-needed help, support and assistance in times of medical emergencies and in case of pre-planned medical expenses. This way, it ensures stress-free and peaceful life.
Thanks to the medical inflation, buying a health insurance plan is not a luxury but a basic necessity. Below mentioned are some umpteen benefits of buying health insurance in India.
Top-up plans provide additional coverage that you can avail in case you have exhausted your basic sum assured.
To put it simply, a top-up plan helps you to avail additional benefits along with your basic insurance coverage. In order to avail these benefits, all you need is to just pay some extra premium. It is better to buy a top-up plan offered by health insurance companies for extra benefits rather than buying a new insurance policy
As the name suggests, a top-up health insurance plan is an additional coverage that you can avail after exhausting your basic health insurance coverage. It essentially provides additional coverage at low premium rates, above the opted sum assured. When you buy a basic personal health insurance plan, you can avail insurance coverage up to the opted sum assured. In case you exhaust the assured amount, a top-up plan will be your ultimate saviour.
For instance, Mr X has a health insurance cover with sum insured of Rs 10 lakhs. He duly pays the premium every year amounting to Rs. 24,000. In case of a medical emergency, he had to be admitted to the hospital and the costs of the medical care shot up to Rs 15 lakh. The insurance company will provide financial aid up to a limit of 10 lakh, and the additional expenses would be borne by Mr X and his family. However, if Mr X opted for a top-up health insurance policy, the extra expenses incurred during the treatment will be paid by the insurance company. Some insurance companies also offer super top-up health insurance plan. This particular plan allows a policyholder to avail multiple claims that a basic top-up plan doesn’t. It provides protection above the opted the opted sum assured.
Deciding when to opt for a top-up health insurance plan is the real question. A policyholder can buy a top-up plan in two situations:
There are a few factors you should keep in mind before you zero down on a top-up plan. Following are some tips that will help you to make an informed decision.
These are certain tips that will help you while choosing the best option for you. Remember, do not compromise on health insurance plans as wealth once lost can be regained but the same does not apply for your health.