What is a super top-up in health insurance?
Health insurance on its own offers significant protection from life’s uncertainties. It ensures that any medical costs that you encounter are covered or reimbursed, at least up to the sum assured you have opted for. However, what happens if you need more than the sum assured, or you’ve exhausted the sum assured and require additional coverage for subsequent medical costs?
Well, in such scenarios, you’d be left to fend for yourself, unless you’ve opted for additional protection in the form of a super top-up plan. Unfortunately, not many are aware of what super top-ups are and how they can help boost the protection of your medical insurance. Keeping this in mind, we’ve put together some of the basics about these plans to give the uninitiated a better understanding and highlight the importance of these plans for everyone!
Before we get to super top-ups, what are top-ups? Super top-ups are an enhanced version of top-up plans. Therefore, to explain what super top-ups are, we must first explain top-ups. To put it as simply as possible, a top-up is like a back-up sum assured you can purchase in case your medical costs overshoot your sum assured.
Want more peace of mind? Opt for super top-ups! Unlike top-ups, super top-ups will offer additional sum assured that can be used to cover multiple medical costs after you’ve utilized the sum assured of your health insurance policy; as mentioned earlier, a top-up will only cover one medical cost. The sum assured of your super top-up can be used to cover medical costs until it is completely exhausted.
Confused? Let’s take an example to better understand. Let’s say Ram has a health insurance policy of Rs. 5 lakh & a top-up plan of Rs. 4 lakh. Ram plans on having a surgery this year, the cost of which would be Rs. 5 lakh. This would be covered by the sum assured of his medical insurance. Later on in the year, Ram suffers from two more medical conditions, both resulting in claim amounts of Rs. 2 lakh each.
Read terms before you buy. After reading this, you might be tempted to purchase either topup or a super top-up plan with your medical insurance policy. It’s a smart move; it keeps you prepared for anything life could throw at you.
However, before you make the purchase, remember to thoroughly evaluate the workings and wording of the top-up/super top-up plan. Make sure you are fully aware of any clauses on deductions, preexisting diseases, pre & post hospitalization costs, etc.
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