Post pandemic, Health insurance in India has seen spike in awareness and intent for purchase. With
rising treatment costs, individuals and their families require comprehensive and adequate health
insurance that ensures access to the best medical care without running into a financial crisis.
It is advisable to purchase a health insurance plan only post evaluating the requirements of individuals
and families, so that the policy is adequate. However, sometimes even well-evaluated health insurance
covers may get exhausted and subsequently force people to use their savings.
This can be avoided by opting for a top-up health insurance plan if you have an existing policy but wish to expand its cap.
A prudent addition to your existing health insurance policy, the top-up health insurance plan offers
medical coverage in addition to the policy you have already purchased before. It is an indemnity cover
that protects from high-cost medical crisis by allowing you to cover medical costs above and beyond the
amount insured by your standard policy.
Your existing level of coverage can be increased at a reasonable cost with a Health Insurance top-up
plan. If your needs go beyond the scope of your standard health insurance plan, top-up policies provide
an additional safety net that you can rely on.
Top-up plans typically cover the following:
● In-patient hospitalization cost
● Pre-hospitalization cost as per product.
● Post-hospitalization costs as per product
● Daycare procedures
● Organ donor costs
● Emergency ambulance charges
● Domiciliary treatment costs
Since these products come with a deductible most products do not require pre-medical health check-up
till a certain age and hence, purchasing them early can help you stay protected for longer while paying
lower premiums. The Health Insurance top-up plan gets activated post the deductible limit getting
exhausted in the policy.
A deductible is a certain amount/ limit which gets be paid by the insured either from his bottom or standard policy and post the deductible the Health Insurance Top Up Sum insured gets available for any claim. A deductible does not reduce your sum insured.
Health Insurance Top up plans also have two variations, one is the standard Top up plan where the
deductible is applicable on per claim basis and the other is the Super Top Up plan where the deductible
is on aggregate basis.
There are numerous add-ons available that can be effortlessly converted into basic health plans. These
plans are renewable for the rest of your life. Corporate employees with insurance from employers
should supplement their health insurance with top-up plans and other advantageous options.
The major advantages of selecting top-up plans are enhanced coverage, additional protection, access to
global treatment facilities (if available), and a large insured sum in case of medical emergencies.
You can also modify these plans as per your specific needs independently of the employer health insurance scheme or your basic insurance package. Authored by Mr. Shreeraj Deshpande, Head of Health Businesses at SBI General Insurance