All You Need to Know About Super Top-up Health Insurance Plans

One of the most crucial investments for a family in today’s times is a health insurance plan. This fact has surfaced more firmly after the recent wave of the Covid pandemic that left our healthcare sector in despair. Therefore, in these uncertain times of rising medical costs, a health insurance plan is a necessity that protects the insured family from unforeseen medical emergencies. However, there could be situations when your sum insured may not suffice to cover your medical expenses. For times like these, you can enhance your health insurance plan coverage through a Super Top-up Health Insurance Plan that provides extended medical coverage.

What is a Super Top-up Plan?

A Super Top-up health insurance gives coverage for cumulative medical costs incurred after the deductible limit is crossed. Deductible limit is the threshold amount that the insured either pays from their pocket, or which is paid from the base health insurance policy. Once this threshold limit is crossed, the super top-up comes into effect and covers medicare expenses up to the sum insured. Super top-ups go on to supplement an existing health cover with its prime advantage- covering multiple claims in a policy year.

Let’s understand this with an example. Tarun has a base health insurance policy, with a sum insured of Rs 10 lakhs. He then took a super-top up plan with the same sum assured and a deductible limit of Rs 3 lakhs. After an unfortunate accident, Tarun’s hospital bill amounted to Rs 4 lakh. So, his base health insurance policy covered the expenses up to his deductible limit of Rs 3 lakhs and the remaining Rs 1 lakh was provided by his super top-up plan. Later, in a second mishap that raised a claim of Rs 6 lakhs, Tarun’s base health insurance plan covered Rs. 3 lakhs and the remaining Rs 3 lakhs was, again, paid by his super top-up plan.

Therefore, a super top-up plan is a financial backup for when medical expenses exceed the coverage of the ongoing health plan. It is quite like the top-up plan, except that it provides coverage for multiple claims. On the other hand, a simple top-up plan covers a single claim in a year. It means that if Tarun had a simple top-up plan instead of a super top-up plan, his second claim would not be covered by it.

Why Get A Super Top-Up Health Plan?

Healthcare expenses of present times indicate that maximum security and coverage is the need of the hour. The premium of a policy increases depending upon the age of the insured person. Hence, soaring medical costs for senior citizens could be reduced by getting a super top-up policy. It gives more financial security and widespread protection to the elderly in your family at a much lower price.

After the rise of Covid, hospitalization charges have shot up exorbitantly in India. In several cases, medical expenses for patients have reached up to Rs 1 crore. As a result of this increase in inflation, a super top-up plan has become a great means to avoid medical bills from affecting one’s financial stability. Additionally, premiums paid for a super top-up plan make you eligible for tax deduction benefit under section 80 D of the Income Tax Act.

The purpose of a super top-up plan is to ensure that you never fall short on medical cover. So, it allows you to raise multiple medical claims while paying just once. Hence, a super top-up health plan is a great way to extend the coverage of a base health plan. Therefore, it’s best to consider Super Top-up health insurance that goes beyond, meeting regular needs and provides adequate medicare coverage for you and your loved one.