5 Points to Remember Before Buying Health Insurance Top Up Plan

A health insurance top up plan is nothing but an extended coverage that you would like to avail once the limits of your conventional health insurance plan get exhausted. For example, if your medical expense is of Rs.15 lakh and if you mediclaim policy covers only Rs.10 lakh, what will you do for the remaining Rs.5 lakh? That’s when buying the health insurance top up plan will help you cover that extra Rs.5 lakh.

With an alarming medical inflation rate always a possibility, it makes a sense to go with health insurance top up loans to get an extended coverage and live stress-free.

Let’s provide you with some features of the Top up health insurance plan which anyone looking to avail the policy should consider before applying for it. Have a look:

  • What health insurance top up plan benefits are  available?

The first thing that you need to check before applying for the health insurance top up plan is whether the benefits covered under it is enough to many treatments or not. The point in buying a health insurance top up plan is to extend your coverage and it does not make sense to pay higher premiums to avail it. Check if the policy offers reset benefits or not. This feature let the insurer to refill the health insurance cover if you exhaust it in the middle of the year.

  • What is the deductible limit?

In the insurance sector, the deductible is the figure that a policyholder would need at the time of making claim before the company settles the rest of the claim amount. Even the health insurance top up plans come with a deductible clause. The plans are into effect only when the medical expenses cross the deductible amount limit. The concept is clear as that’s what the insurance company follows – higher the deductible, the lower will be the premium.

  • What about the coverage?

Before availing the health insurance top up plan, it is good to review the medical history of your family members so that you may know how much coverage you will need. The city that you live, the age of the family members including senior citizens should also decide the amount of coverage that you will need. If you have an already active family floater or individual plan, you can add the health insurance top up plan super easy.

  • Is there a provision for pre-existing diseases?

In most of the cases, any health insurance plan does not cover pre-existing ailments unless some years have passed. However, if you think you or one of your family member may need a critical illness coverage soon, you need to select a top up plan that covers pre-existing illnesses as well.

  • Are there any restrictions?

You may have some restrictions on your health insurance top up plan such as sub-limits, which may limit the amount of coverage available to use. Sub-limits may be imposed on some surgeries, room rent and treatments. Thus, it becomes vital to ensure that your health insurance top up plan that you want to avail comes with no restrictions.

The Bottom Line

It’s always prudent to have an extra health insurance cover in the form of the health insurance top up plan if you don’t want to pay out of your pockets. It is quite a probability that your existing health insurance plan may get exhausted and you may have to pay the bills on your own. However, having a good health insurance top up plan with the discussed aspects shall help you save!

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