What is Top-Up in Health Insurance?
Top-up health insurance policies give an extra cover to your regular health insurance policies. If the sum insured on your health insurance policy gets exhausted, you can get coverage for additional treatment with top-up health insurance policy. Anyone who has gone through a medical emergency knows that it leaves one with no time to think and can easily set you back financially. Hence it is very important to have sufficient health insurance coverage. But how do you know if your cover is sufficient? When you buy health insurance, you roughly estimate the sum insured basis your current needs and the premium. It is very possible that you realise in over time that you may need higher cover but cannot pay a higher premium.
At such times, purchase a top-up health plan to enhance your health insurance policy’s limit at nominal price. A top-up health insurance plan will cover the additional expenses if your regular health plan coverage gets exhausted.
Key benefits of top-up health insurance plans
· In-patient hospitalisation treatment coverage
Policyholders can benefit from financialGet coverage on charges incurred during hospitalisation for treatments, tests, or other medical procedures. It includes the medical expenses, but the room rent capping depends on the insurance provider.
· Pre-and post-hospitalisation coverage
You may incur a few medical expenses before hospital admission and after discharge. These include diagnostics tests, such as angiograms, X-rays, MRIs. Also, medication needed before and after hospitalisation. Top-up health insurance covers these charges up to 60 days before and 90 days after hospitalisation. The duration may differ from insurer to insurer.
· Organ donor expenses coverage
Donors feel reluctant to come forward as they must cover their medical expenses. With a top-up health insurance plan, you can steer clear of this major deterrent. It covers the surgical and medical costs associated with harvesting a critical organ transplant of the insured.
· Emergency ambulance coverage
You no longer have to pay for emergency ambulance charges if your health insurance does not cover it. With a top-up plan, you get the sum insured as per the insurance purchased.
· High coverage at affordable premium
Get additional coverage over and above your health insurance policy. Top-up health insurance plans come with higher coverage at affordable premiums.
· Tax benefit
Get tax rebate for the premium paid towards the top-up health insurance policy. You can file for tax exemption under the relevant sections of the Income Tax Act.
· Covers pre-existing illnesses
Many top-up health insurance plans cover pre-existing diseases. Usually, you get to benefit the coverage after a waiting period. Most insurers apply a waiting period of 2 to 4 years on the pre-existing diseases. During this period, you cannot claim for the benefits if you undergo any treatment for the pre-existing illness. The conditions vary from insurer to insurer.
What are the types of top-up health insurance plans?
You get top-up health insurance in two forms. One, a simple top-up health plan and another, a super top-up health plan. Both these types work as a booster to your primary health insurance plan. You can use these plans to pay the additional medical expenses if your regular health plan gets exhausted.