Top-Up Health Insurance: an Inevitable Need for Indians

Health insurance is an inevitable need, and so you are likely to find a plethora of health insurance schemes in India. However, the only problem is, health insurance is merely a tax saving option since the Indian Income Tax laws allow a deduction of Rs 25, 000 on health insurance premiums. Even in that, people take insurance schemes with lowest premiums with low financial coverage. Though this won’t be a problem as long as the person doesn’t fall severely sick. If they do, the chances are they will exhaust their coverage and would end up paying a hefty sum from their own pocket.

Now, no matter what we say or how many reasons we put forward to persuade people into buying a health insurance with higher coverage as a precaution, things are very unlikely to change. Thus, we would recommend a top up health insurance as a measure.

What is a top-up health insurance?

A top up health insurance plan goes above and beyond the traditional cover offered by health insurance policies. It has two primary components- the sum covered by insurance and a corresponding deductible limit. In simple terms, it allows you to draw an additional amount up to a specific limit even after your insurance cover is exhausted.

A top up insurance plan can be subscribed along with your regular health insurance plan as a preventive measure. However, check the terms and conditions related to the usage of the said insurance policy before subscribing.

Related Topic: Why Should you Choose Top up and Super Top up Health Insurance?

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