Super Top Up Health Insurance Plan and its Benefits

Health insurance is like a life vest - it can be helpful in a medical emergency and can prevent you from drowning in the costs of medical care. It can be the difference between a manageable expense and a financial burden that could jeopardise your financial stability. In light of this, say you purchase a health insurance policy with a sum insured of Rs 10 lakhs, believing that it would be adequate to cover your future medical expenses. However, after a few months, you require surgery that costs Rs. 12 lakhs. Your health insurance only covers Rs 10 lakh, so you are left with the responsibility of raising the remaining funds. All this stress could have been avoided if you had bought something called super top-up health insurance. It can provide you with the extra coverage you need, so you don't have to worry about the hassle of unexpected costs. In this article, we will discuss everything about super top-up health insurance.

What Is Super Top-Up Health Insurance?

A super top-up health insurance plan provides coverage over and above the limit of your existing health insurance policy. This additional coverage acts as a buffer to cover any additional medical expenses that may arise, providing an extra layer of protection. A key benefit of this policy is that it offers higher coverage at a relatively lower cost than a standard health insurance policy. This makes the super top-up health insurance policy an attractive option for those looking for enhanced coverage without breaking the bank.

How Does Super Top-Up Health Insurance Work?

You can buy a super top-up health insurance plan in India with or without a base health insurance policy. For this, you need to set a deductible.

When does super top-up health insurance step in?

Basically, once the medical expenses exceed the deductible, the super top-up policy kicks in and covers the remaining expenses up to the sum insured.

What is a deductible?

It is a specific amount that after which the Super Top-up Plan will start to pay. The deductible is determined based on all your medical expenses throughout the policy year. Basically, your total healthcare expenses during the year are accrued. The super top-up covers the amount exceeding the deductible limit. A super top-up policy adds an extra layer of protection on top of your primary health insurance plan. This way, you can ensure that you remain financially prepared for any medical emergency that may come your way.

Let’s look at an example

Roma has a base health insurance plan with a sum insured of Rs. 10 lakhs. She also purchases a super top-up of Rs. 20 lakhs and chooses the deductible to be Rs. 10 lakhs. She undergoes multiple hospitalisations in a policy year -

Here’s how the claims will be paid by the insurance company - **Hospitalisation 1: ** Claim amount = Rs 7 lakhs. Your base plan will pay the entire hospital bill. Hospitalisation 2: Claim amount = Rs 7 lakhs Your base plan will pay Rs 3 lakhs. Now, since the deductible limit of Rs 10 lakhs is crossed, the super top-up will kick in and pay the remaining amount of Rs 4 lakhs. Hospitalisation 3: Claim amount = Rs 11 lakhs Now that your base plan is exhausted, the super top-up will pay the entire hospitalisation bill of Rs 11 lakhs(since the deductible limit of Rs 10 lakhs is already crossed).

Who Should Buy Super Top-Up Health Insurance?

You should consider super top-up health insurance if -

• You Have A Low Base Sum Insured
  Your existing base health insurance policy may not cover high medical expenses if it has a low sum insured. The best way to tackle this is by purchasing a super top-up policy. Not only will it give you additional coverage against high medical expenses, but it will also provide you with the assurance that you have taken the necessary steps to ensure that your health is protected.
• You Don’t Hold Employer-Sponsored Health Insurance
  In the event that you do not have employer-provided health insurance with comprehensive coverage, a super top-up policy enables you to fill in any gaps in your existing individual health insurance plan. It ensures that you are not left under-insured, providing you with the financial support to cover any major medical expenses.
• Your Family Comprises Multiple Members
  A super top-up policy may be beneficial for families with multiple members or dependents. An extended household may have higher hospitalisation needs, so such a policy could reduce financial strain and provide greater financial security. Once the deductible is crossed, all family members can access additional coverage - allowing them to access better care without taking on exorbitant costs.

Benefits Of Super Top-up Health Insurance

Here are some of the advantages of super top-up health insurance -

• Flexible
  Depending on your financial situation and coverage requirements, you can decide on the deductible that works for you. Generally, higher deductibles mean lower premiums. However, selecting a higher deductible means you'll have to pay more money out of pocket when a claim is filed. So, ensure you select the right deductible that gives you the perfect balance between your coverage needs and budget.
• Cost-Effective
  Seniors or the elderly require frequent hospitalisation - posing more risk to the insurer. So, senior citizen health insurance policies often cost quite a lot. However, with a super top-up plan, you can add more coverage at a lower price ensuring all-round protection. In fact, it is more affordable than increasing the sum insured of your primary policy.
• Comprehensive Coverage
  Super top-ups cover a wide array of healthcare expenses, including hospitalisation, critical illness, surgeries, specialised treatment, etc. This allows you to rest easy knowing that you are well-covered for a broad range of medical contingencies.
• Bridges The Gap Left By Individual Health Insurance
  This means that it covers medical expenses that may not be covered by your personal health insurance policy. It's like having an extra layer of clothing on a cold day - it provides additional warmth and protection against the elements that aren't provided by the primary layer. This ensures that all your healthcare needs are met - making sure you're fully covered for any eventuality.
• Purchase And Claim Process Is Easy
  Super top-up health insurance is available online so you can get the coverage you need quickly, without any cumbersome paperwork or hassle. Plus, it ensures timely and convenient claim service. This makes super top-up health insurance a perfect solution for anyone looking for an effective and straightforward way to secure their health.

Wrapping up!

With super top-up health insurance, you can enhance your health insurance coverage at an affordable price. It is an ideal way to ensure that you have the best medical coverage while still staying within your budget. If you worry that your current base policy coverage won't cover your future hospitalisation expenses, you might want to consider a super-top-up policy if not now then in future. However, be sure to carefully review the policy's terms and conditions before committing to it.