Why it is good to have a top-up health insurance

Here’s another option for you to enhance your health cover

As the name suggests, a ‘top-up health insurance’ policy comes in handy when you have exhausted your Sum Insured in your basic health insurance policy. Typically, it could be due to single or multiple hospitalisations in a year for which you might have utilised your basic health cover or in most of the cases provided by your employer’s Group Health Insurance Scheme.

Top-up health insurance policies will have a ‘Deductible’, chosen as per your choice. For example, if you already have a basic health insurance for Rs. 5 Lakhs, you should opt for a 5 lakhs deductible. This means, you cannot claim from the top-up policy until your treatment expenses for a particular year reaches 5 Lakhs. But, once it reaches 5 Lakhs, your top-up policy will become active and you can claim further from the same.

Top-up policy is a good option when the probability of your exhausting the basic cover is remote, but possible. The premium cost of top-up policies are low compared to basic health insurance policies.

Hence, it will be cheaper to go for a 5 Lakhs basic + 5 Lakhs top-up instead of buying a health insurance policy for 10 Lakhs.

However, the terms of applicability of claims under a top-up policy varies with every insurer. So, it is important to read and understand the terms of claims admissibility before choosing the plans.

Maternity & Child Care Cover

Maternity and Child Care covers allow expenses related to pregnancy, child birth and health cover for new born baby. Usually, these expenses are excluded in a standard individual health insurance policy. However, waiting period applies for this additional cover as per terms of the respective insurers.

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Unlimited Automatic Restoration

In case if the Sum Insured in your health insurance gets exhausted during a policy year, this additional cover refills Sum Insured for the same period unlimited number of times. This is over and above Automatic Restoration, which refills SI only one time during a Policy year.

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