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What is a Health Insurance Top Up Plan?

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Medical costs are rising exponentially in the country today and to pay the hospital bills from your own pocket is not possible always. What comes to the rescue is a comprehensive medical insurance plan. But, there is an additional problem now that everyone faces. As the cost of medical care has increased a lot, the sum insured of a health care insurance policy might not be enough in many situations, and thus, there is a need for an additional sum insured. Insurance companies have understood this issue and they also understand that taking a new medical insurance policy is not the solution. So, they have introduced health insurance top up plans.

A regular health insurance policy pays for the hospital bills to a maximum amount of the sum insured and a health insurance top up plan takes care of the bills beyond that. Thus, a health insurance top up plan is a way to get additional coverage for those who have an existing plan or have limited insurance from their employer.

Advantages and Benefits of Health Insurance Top Up Plans

• Gives peace of mind as there is more coverage available beyond the existing medical insurance policies

• Premium for top-up health insurance plan is quite affordable

• Can be taken for anyone from the age of 5 to 65 years

• If both parents are covered, most policies cover children after 91 days

• No restrictions and sub limits on expenses in the hospital

• Cumulative bonus for no claim years

• For people below 55 years, there is no need for a medical check up if there are no pre existing illnesses

• Tax redemption is available under Section 80D

Inclusions of a Health Insurance Top Up Plan

Let us talk about all the inclusions under this policy:

• Pre and post-hospitalization cover

• In patient hospitalization expenses are covered

• Covers expenses of organ donor

• Includes a list of day care procedures as well

• Ambulance charges up to a limit are paid

Exclusions of a health insurance top up plan

A health insurance top up plan has many advantages and has a wide coverage also. However, they also have certain exclusions which need to be understood. Some of them are:

• No claim is payable within 30 days of taking the policy

• Most policies cover pre-existing diseases with 2-4 years of waiting period

• Treatment costs for anxiety, depression and other physiological disorders are not payable

• HIV, AIDS and other sexually transmitted diseases are not covered

• Adventure sports injuries are not payable

• Any accidents due to war are not covered in the policy

• Cosmetic and plastic surgeries are not covered

• Only allopathic treatments are covered by most top up plans

• Experimental treatments are not covered

• No dental treatments are payable

A top up plan can instead take care of a lot of additional expenses and relieve one from mental stress. Understanding the plan and its inclusions is a must to go ahead.

Read more about : How you must ensure you are covered enough? 

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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