OneInsure Blog
Post By abhishek
Have You Given Your Health Insurance the Top-Up Backup?
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Health Insurance, Health Plan, Mediclaim
We live in a challenging time, health- and wellness-wise. The year 2020 has shown us that health is the most important facet of our lives. Without it, everything comes to a standstill and success in other aspects of life tend to not matter so much. But, of course, we do not have to elaborate too much the important benefits of a health plan in the mature Indian’s financial planning:
Benefits of Health Insurance Plans
- Health plans cover large hospitalization costs in case of planned treatments, accidents, and even emergencies (road accidents, for example) in return for relatively affordable premiums. If you visit a network hospital, the treatment can even be cashless. This protects you and your family from the financial burden of expensive treatments.
- Family floater plans allow you to cover the entire family under a single health plan for marginally higher premiums.
- High-quality treatments with no compromises.
- Tax benefits of up to Rs 60,000 under Section 80(D).
- Having a health plan ensures you are not fooled at hospitals with extra charges and unnecessary procedures.
However, what if you already own a health plan and want to increase your sum insured (health cover) without buying a separate policy and without having to pay high premiums? There is a solution tailor-made for you – a top-up cover!
What Is a Top-up Cover?
It is an additional health cover that provides coverage when your base (original/primary) health insurance coverage is exhausted. Let’s understand with the help of an example.
Mr. Sharma is hospitalised and he has a health insurance cover of Rs 5 lakhs. Due to the seriousness of the ailment, the medical expenses go above Rs 5 lakhs and end up at Rs 8.5 lakhs. The additional expense of Rs 3.5 lakhs would drain out Mr. Sharma’s other savings.
However, if Mr. Sharma would have a top-up cover, the additional expenses could be easily paid for without draining his other savings.
What Are the Advantages of a Top-up Cover?
Here are the advantages of having a top-up cover:
- Top-ups are available along with individual as well as family-floater health plans.
- Top-ups offer tax deduction under Section 80(D) on the premiums paid.
- Top-ups offer coverage even if your base (primary) health policy is brought from some other insurer.
- The combination of a health policy + top-up policy is much cheaper compared to the cost of buying a health policy with the same coverage.
Hurry up and get your health insured at a lesser cost! Call 86559-86559 for details.
