If you are already an owner of a health insurance plan which you have utilized already, then there is no longer a need to opt for a new policy. You can simply renew your present plan with a top up health insurance.
In the growing world, where there is advanced science, technology and growth in every sphere, similarly there are many diseases which are creeping in. Many a times the health insurance policy one subscribes to does not cover all the benefits or is often restricted and exhaustive in nature. In this course, a top up health insurance policy fulfills and covers all the vacant places. The top up health insurance plans gives a proper cover in this era of inflation. To know specifically what exactly a top up plan is, here are five points for you to keep in mind:
- It is an additional beneficial policy when one is out of the threshold limit. In fact top up health insurance policies are cheaper than the normal health insurance policies. They can also be taken along with the health cover provided by the employer. There is a lot of confusion when it comes to top up health insurance plans and normal health insurance plan. The top up health insurance plans are the indemnity plans with regular cover. Having gap between the policies, cover and costing, the top up plans of higher deductibles are basically cheaper than the regular health insurance plan.
- There are various other benefits arising if one avails a top up health insurance plan. To be clear about this we can focus on the main points which the best health insurance plans have brought up with them. Unlike normal policies which one gets during hospitalization, top up policies comes up with a threshold and limit. To be specific one has to select the threshold limit when availing the policy, which is the amount up to which the policy can pay the bills. A top up health insurance plan on the other hand can cover the hospitalization cost above the threshold. This basically happens if there is a misfortune or an accident which is of serious nature and might needs a lot of financial support to come in pace.
- It is often wondered that one might be relieved that all these are being taken care of by the employer. The med claim policies nowadays give the assurance to the employees that their medical insurances are being taken care of. A small amount of premium is even deducted from their monthly salary. But the employees fail to realize that the insurance covers only accidents and miss happenings which are not so big and on a large scale. In case the individual gets into some large scale issue like major accidents, it becomes a problem for the other members as well the beneficiaries and they might suffer from financial crisis in order to curb the problem. In such cases the top up health insurance policy acts as a boon.
- Top up plan work on a cost sharing basis. The medical expenses up to the deductible limit are borne by the policy holder. The top up insurance company takes charge if the medical expense crosses the threshold limit. The top up plan pays the necessary extra expenses incurred.
- There are two categories of top up plans existing. They include deductible limit on the basis of hospitalization and the second category is the super top up policy where the threshold limit applies to the total expenses incurred. Higher the deductibles, the lower would be the threshold amount. The amount should not be more than what the basic health policy can pay at during emergency.
This top up health insurance plan is like a backbone which supports you after the health insurance plan one has availed, has been exhausted. Many companies have come up with top up health insurance plans with increasing threshold limit without making a hole in the pocket. They include top notch companies like Bajaj Allianz and so on.