Evaluate the Need for Super Top up Health Insurance by Following 5 Steps

Evaluate the Need for Super Top-up Health Insurance by Following 5 Steps


With the rising medical care expenses, especially in the private sector, purchasing a health insurance policy for yourself and your family is essential. Hospitalization might drain your bank account and consume all your savings. All of this can be avoided by paying a simple annual premium that will relieve your tension in the event of a medical emergency.


But are the health insurances enough to cover up all the medical expenses?  India’s health spending, at 6% of GDP, is among the highest estimates for developing countries. Evidently, health spending in India is a huge expense and at times, even the insured amount can be insufficient. However, is there something you can do about it? As it turns out, yes, you can. All you need is a super top up health insurance.


What is super top up health insurance?


If your current health insurance plan is insufficient, a super top-up plan can help you boost your coverage without having to purchase a new expensive policy. Over and above a deductible, a super top-up health insurance policy reimburses you for your total medical expenses. 


Generally, it is not the same as standard health insurance coverage. It only pays all hospitalization expenditures when your health policy’s deductible has been reached or you have used the entire sum insured. Multiple claims will be covered by a super top-up health insurance policy, which will keep you safe.


You might be wondering if you need a super top-up health insurance policy! Let’s look at some reasons why it is a valuable financial product:


  1. Rising Healthcare Costs

Healthcare expenses are skyrocketing, and India’s medical inflation has been driven by the present pandemic situation. One of the most common problems in India is the inability to obtain high-quality medical care owing to financial constraints. A super top-up health insurance plan can help you deal with such situations while also preserving your funds.


2. Helps Boost Your Health Cover

Super top-up plans in health insurance handles several claims in a year, after you’ve used your base coverage. It is the most cost-effective way to raise the amount insured for your medical bills without having to pay a higher premium. It covers the costs Wholesale Distributor Insurance of day-care, road ambulance fees, a complimentary annual health check-up, and pre- and post-hospitalisation payments.


3. Financial Cushion for Medical Emergencies


A cash cushion for medical expenses can help you get through difficult times. It also provides reassurance. If you don’t already have an emergency fund, now is a good time to start one with super top-up plans, since several people exhaust their basic medical insurance due to the exorbitant healthcare expenses.



4.Offers Tax Benefits

Super top up health insurance policy also offers tax benefits of up to Rs 25,000 per year, with a maximum of Rs 1,00,000 per year, depending on the age of the insured individual. 


5. High cover at an affordable premium

People who are over 60 years of age can incur huge medical expenses with growing illnesses. Moreover, health insurance coverage for seniors is typically expensive. Hence, a super top-up plan that provides comprehensive coverage while remaining far less expensive than a traditional senior health insurance plan can be a wise choice.


The unique features of super top-up plans:


  • Selecting the Deductible: At the time of purchasing a super top-up plan, the policyholder has the option of selecting a deductible based on the cover amount. 
  • Greater Coverage: Such a policy allows the insured person to enhance their coverage to meet their healthcare needs.
  • Tax Benefits: The policyholder can claim tax benefits under Section 80D of the income tax legislation on the premium paid for the super top-up health insurance policy.
  • Covers Pandemics: Well-known insurers such as Care Insurance also provide coverage for medical expenses related to coronavirus treatment. 


Make sure to carefully assess your financial situation and health needs to find the best policy for you and your family. Choose a reliable insurance provider to prevent any disappointments in the future. 


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