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In this day and age, getting sufficient protection requires having a health insurance policy with a minimum value of two crore rupees. To assert that in the present day, particularly during the COVID-19 pandemic, a medical insurance cover of up to two crore rupees would mean paying hefty premiums.
Purchasing a health insurance top-up or super top-up health plan is your most fantastic option for increasing your coverage while simultaneously lowering your monthly rates. Only a few know the difference between the two.
The insurance benefits supplied by Health Insurance Super Top-up plans are comparable to those provided by top-up plans. Both are utilised to offer more insurance coverage while maintaining a low overall premium. The primary distinction is that a Super Top-up Plan provides coverage for all hospitalisation costs exceeding the threshold limit. In contrast, top-up insurance only provides coverage for a single hospitalisation claim over the threshold limit. *
If you are considering purchasing either a health insurance top-up plan or a health insurance Super top-up plan, here are the distinctions between these two types of plans:
What is top-up in health insurance?
Coverage for medical expenses is more significant than the policy’s threshold amount or deductibles, as indicated by the term “top-up health plan.” *
The total amount of claims: A single claim greater than the maximum deductible
Deductible Paid: Every claim must first pay the deductible
What is a super top-up in health insurance?
Coverage for medical expenses exceeding the plan’s threshold amount and deductibles is denoted by the term “super top-up health plan.” *
The total amount of claims: Invoices accumulated over a policy’s term after the deductibles have been met
Payable as a Deduction: Once within the course of one policy year
In Top-up and Super Top-up Plans, what exactly is a Deductible?
The term ‘deductible’ refers to the limit established by one’s health insurance provider. Due to this provision, people are less likely to file frequent and frivolous medical claims, which benefits the insurance provider. *
The individual who owns the policy is the one who is responsible for paying this sum. The cost of deductibles is only sometimes paid by health insurance companies. They are only responsible for paying the amount that is more than the deductibles. But, you are responsible for paying the number of deductibles, and the insurer is responsible for paying the remaining amount up to the sum insured limit. *
When Not to Purchase a Super Supplemental Health Policy
Purchasing a super-supplemental health insurance policy is not always a prudent choice. Examine the instances in which you should avoid purchasing a super top-up policy:
- If your base plan has a high sum insured with restoration benefit, you may be eligible for an upgrade.
If your primary health insurance policy has a big sum insured and a 100% restoration benefit, it makes no sense to purchase a super top-up policy. The restoration benefit will readily and affordably provide the necessary coverage.
- If Your Employer’s Plan Is Your Primary Coverage
If your work provides basic health insurance coverage, purchasing a super-additional policy is not a wise idea. When you change jobs, your employer’s policy will expire, leaving you with no base policy to pay the deductible on your super top-up policy.
Choosing the Preferred Course of Action:
Suppose you want to cover the possibility of chronic conditions requiring more than one hospitalisation in a given year. In that case, the industry professionals recommend you go with a Super Health Insurance Top-up plan. Additionally, it’s cost-effective compared to an individual health plan with great coverage. In addition, it is appropriate for seniors, who frequently have to undergo various medical treatments. *
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.