Life is an unpredictable gamble. No one actually knows what’s going to happen in the next few hours leave alone the future. With rising inflation, it is becoming even more important to secure the future with an adequate health cover. Or, opt for a top up health insurance plan which stretches your cover and extends your threshold limit. This health top up cover can be booked for both corporate group policies and independent mediclaim policies.
How it works?
Top up health plans follow a cost-sharing model and are functional in situations where the policyholder has to bear the cost of treatment which is more the deductible limit of their assured limit. When the limit of the insured person’s medical expenses reaches their cover limit the insurer can stop considering the additional treatment costs and this is the time when the top up plan comes into play. It takes care of the medical expenses which cross over the threshold limit of the existing plan. These top up plans offer complete protection under the sum insured by having the deductible amount excluded in the general health plan.
Read More- Top up Health Insurance and Mediclaim Policy Cover
Benefits of top up plans -
- Top up plans are comparatively cheaper than general health insurance policies, if the deductible is higher.
- Investing in a top up plan is better than extending a basic health cover, at a nominal cost.
- Top ups are available along with family floater cover and individual cover.
- These plans offer tax deduction under section 80D of the Income Tax Act.
- The plan is easy to purchase and can be bought from any insurer without restrictions. Where, the basic health plan and a top up plan can be from two different providers.
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