SAVE MORE WITH SUPER TOP-UP HEALTH INSURANCE PLANS
In the time of unforeseen medical emergencies, it is crucial to have health insurance to take care of expenses. However, at times, insurance coverage or Mediclaim may not be sufficient. What does one do in such a scenario?
The insurance companies in India have become smarter. They realize this gap and hence, have announced several top-up health insurance plans. Simply put, a top-up health insurance plan offers additional coverage in exchange for a small premium. However, it saves your money compared to what you would have paid to increase your insured amount in your existing health plan.
To get a better understanding, let's say that you had a scheduled operation earlier this year and an unforeseen medical bill later. Well, if you have already used up all your insurance claim money for the scheduled surgery then you will be in a soup during the medical emergency. At the time of buying the Mediclaim policy, you have already exhausted the amount that you thought would be adequate for your needs, but life is full of uncertainties.
Being financially prepared for them well in advance is the wise way to handle such unwelcomed surprises. And you are given exactly that through a Super Top Up package over health insurance, as they allow for multiple claims in a year.
Features of Super top-up plan that helps save more are:
Premium amount is less-than-usual:
Just a tiny premium would qualify you for a greater amount of coverage. Normally, if you need reasonable coverage for your health insurance plan, you will have to pay a considerably higher premium, right? No! With a strategy for Super Top Up, you wouldn't. The higher deductible results in a lower premium.
Under your super top-up contract, you can make several claims before your insured total is reached.
Mediclaim or on health insurance premiums, tax deductions of up to Rs. 75,000 are available under Section 80D of the Income Tax Act, 1961. Under this clause, premiums charged for a Super Top-up Plan are also eligible for deductions under the total cap of Rs. 75,000.
4. Advantage over the standard plan:
A Super Top-up health insurance plan acts as an extra insurance cover. The insured party and the insurance provider negotiate on the deducting, unlike Mediclaim. That’s why, experts recommend investing in top-up health insurance.
While you can’t be certain that the pandemic or a medical emergency won’t hit you, you can certainly have an adequate financial cover to handle the situation. Make sure you have a back-up in the form of a super top-up plan for times where the amount insured in a health insurance plan can be surpassed by medical costs, as it gives maximum benefits at a reasonable cost.
If you want to know more about health insurance, Mediclaim, or top-up health insurance plans, feel free to reach out to the experts. You can buy a top-up health insurance plan at the time of renewal itself.
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