Assume you have a family floater policy worth Rs. 3 lakh, covering your two children, spouse, and you. It is wise to choose a plan with a broader range of benefits and increase your sum insured in light of the rising healthcare costs and health risks.
It is critical first to determine your family’s healthcare needs. Consider where you’re staying, any existing medical conditions, the possibility of a pandemic where everyone in the family could get sick at once, your surplus funds, etc. Whether you choose a super top-up health insurance or an enhanced health plan, ensure you have a sum insured of at least Rs 10 lakh to cover any potential medical expenses. Pick a policy that satisfies all of your medical needs and offers a broad range of flexible features.
Over and above your deductible limit, the super top-up policy provides additional health insurance coverage. If your hospitalisation claim bill exceeds your sum insured under the standard health policy, you can make claims under this policy.
As a result, you must assess the total premium. An additional super top-up plan with a sum insured of Rs 12 lakh and a deductible of Rs 3 lakh, for example, is more affordable than a new base policy with a sum insured of Rs 15 lakh because you already have a base family floater policy with a sum insured of Rs 3 lakh. When the coverage under your existing policy is used up, super top-up plans provide coverage at a lower cost. Depending on whether you choose a deductible, the cost of the super-top plan varies. Claims are subject to terms and conditions set forth under the health insurance policy. ##
Today, you can supplement your fundamental health insurance (indemnity) plan with critical illness coverage. Both a lump-sum payment and hospitalisation for a critical illness that poses a severe risk to life are covered. For the additional financial security, there is also the option to purchase a fixed benefit critical illness add-on cover. It offers a lump-sum payment for medical expenses and coverage for a specific terminal illness. When choosing a critical illness plan, you should consider the list of diseases covered, waiting periods, and payout amount. Claims are subject to terms and conditions set forth under the health insurance policy.
The decision to either purchase a Super Top-Up plan or port your current health insurance plan to gain higher coverage is consequential. It hinges on various factors, such as your health needs, budget, and preferences. While a Super Top-Up plan can offer additional protection, a porting health insurance policy can also come with its benefits. It is essential to thoroughly assess your circumstances and objectives to balance coverage and affordability. By understanding the nuances of both options, you can make an educated decision that ensures you have health insurance plans that align with your unique requirements, providing peace of mind and security for the future.
##All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
