Today, even a health cover of Rs 5 lakh may seem inadequate due to rising medical costs and other factors like affordability and location. Generally, hospitalization in tier 1 and metro cities can cost 30-40 per cent more than tier 2 and 3 cities. Hospitalization for 15 days of treatment for a common case of COVID in Delhi may cost Rs 1.8-2.5 lakh (estimated) and can go up to Rs 5 lakh depending on the co-morbidity. In severe cases, the cost of treatment can exceed Rs 20 lakh.
What if you had a financial backup when your hospitalization claim bill exceeded your prescribed deductible limit, and you could still pay for all medical expenses from your existing health policy. It’s an affordable way to make sure you and your family are covered from any medical uncertainties in life.
A super top-up health plan can be the ultimate backup if you exhaust all your insurance coverage. A super top-up plan covers the total hospital bills up to the limit specified in the plan above the deductible amount. Once the deductible is paid, the super top-up policy gets activated for subsequent claims. It covers cumulative expenses unlike a regular top-up plan, which covers single claims over and above deductibles. And the good news is that even if you don’t have a health policy, you can take advantage of it.
The average individual health insurance purchased by most of the individuals is in the range of Rs 3 lakh-5 lakh which can be easily liquidated at the current medical inflation. Super top-up plans help cover all hospitalization bills in excess of the limit with a comparatively low premium.
The two most common ways to increase the existing health cover are –
- Buying a separate policy and paying additional premium or
- Upgradation of Aadhaar Policy. Both can be expensive. For example: You have a health insurance policy of Rs 3 lakh and are paying Rs 6,000 as premium every year. To increase the coverage from the current Rs 3 lakh to Rs 5 lakh, the premium amount can go up to Rs 10,000 annually.
If your health insurance sum assured is not enough to meet the rising medical expenses, then a super top-up plan may be the ideal plan. Super Top is triggered only after a limit/specific bill amount, thereby reducing the premium cost. Even if you do not have an Aadhaar policy this super top-up can help if the claim is above the limit. Hence Super Top-up is economical.
7 things to keep in mind while buying a super top-up plan
- Long term total deductible amount with options
- Deductible Exemption for Contingent Claims
- No NCB deduction after claim
- Zero deductible, buy-back policy after 4 years
- Affordability
- maximum health coverage
- financial stability
Reliance Health Super Top-up is an affordable way to increase health insurance coverage with industry leading benefits. From organ donor expenses to modern technologically advanced treatments like robotic surgery, it can be easily availed without any cap on the policy. The policy also provides worldwide coverage, air ambulance cover up to Rs 5 lakh, maternity and consumables up to Rs 2 lakh, which are rare to get benefits.
Here are the many benefits of Reliance Super Top-up plan.
- Find out-of-pocket expenses with additional cover over and above the deductible amount.
- Multiple benefits including maternity cover, worldwide emergency cover, air ambulance cover, critical illness, health check-up benefits etc.
- Emergency air ambulance expenses from the place of first occurrence of illness/accident to the nearest hospital up to Rs.2 lakh for policies with Sum Assured less than Rs.10 lakh and up to Rs.5 lakh for policies with Sum Assured above and above Rs.5 lakh for the same sum insured goes. 10 lakh up to Rs.
- Maternity expenses including antenatal, postpartum and inpatient treatment, medical expenses for mother and child are covered from 1 to 90 days within the maternity limit, subject to annual aggregate deduction of up to Rs 2 lakh.
- Premium Waiver in case of Critical Illness listed.
- Aadhaar insurance policy is not required and can be purchased by anyone in the age group of 18-65 years. The policy covers diagnostic or preventive medical check-up expenses at the end of 3 consecutive policy years.
- Deductible exemption is given in case of accidental hospitalization claim.
- The policy comes in two variants, i.e., individual and family floater and it is a cost-effective way to boost insurance coverage for you and your family.
- Works at a holistic level and gets added whenever you use up your basic policy amount.
Super top-up plans are a great way to increase your coverage amount and be prepared for any emergency. They can also be combined with existing health insurance policies.
It is advisable to opt for a super top-up plan as it offers a higher sum insured and the coverage amount can be increased over and above your corporate plan at a lower premium.
Higher the threshold limit, lower will be the premium of the plan. You can buy it either individually or as a family floater plan.
Like all other health insurance plans, a super top-up health plan offers tax-saving benefits on the premiums paid. Premiums paid on top-up or super top-up plans are eligible for income tax deduction under section 80D.
click here To know more about Reliance Health Super Top Up Plan.