When do you need a top-up health insurance plan?
Most of the health insurance plans cover all the health-related needs but you may end up requiring additional funds, in case there is a medical emergency. Also, with rising medical costs, it is advisable to have an extra care cover, so that you are always ready financially.
Can my top-up health insurance premium be used to save tax?
Yes, the premium paid for top-up health insurance plan is exempted under tax as per sec 80D under the Income Tax Act. You can save up to Rs. 60,000.
What does health top-up plan cover?
A health top-up plan can cover any medical expenses for you and your family that arise due to an illness or an accident.
What are the documents required for a top-up health insurance plan?
You will need an age proof, identity proof, and an address proof to apply for a health insurance top-up plan. You will not require a medical test until 55 years of age, subject to a clean proposal form.