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| Bajaj Capital Insurance |
You can enhance your medical coverage at lower premium by
using “Top up Plans”. Enhancement in
health insurance policy ensures that you get much improved policy at an
affordable premium. The rising cost of
quality care at busy hospital May causes that sum assured of your current
insurance policy is not sufficient.
Top up plans serves as add-ons on your immediate health insurance policy. They are similar to the base health plan, except that they
come with a higher deductible limit.
You are concerned about the limited amount of sum assured
since medical expenses have increased excessively. Here a condition comes in
which you are looking for a sufficient amount of health insurance but worries
about the high insurance premium. In this situation, you can consider the
option of Top-Up Plans.
Top up plans have “deductible” hence they are cheap. These
plans also have threshold limit sometimes as high as the sum insured
itself.
Top-Up Health
Insurance Policy: - Top health insurance plans are for those who already
have individual, group or family health insurance plan. If the sum assured of
your current health insurance policy is not sufficient due to illness or any
other reason, Top-up plans takes care of the additional hospitalization
expenses.
Deductible: - Deductible
means a cost-sharing requirement under a health insurance policy.
Mr. Mohit has an individual health insurance policy of Rs. 4
lakh and a top up policy of Rs 6 lakh with the deductible of Rs. 4 lakh. In
case of the serious hospitalization with a claim of Rs. 10 lakh; Rs. 4 lakh
will be paid from the primary insurance plan and Rs. 6 lakh will paid from
top-up insurance plan.
In other situation, Mr. Mohit has a top up cover with the
threshold of Rs. 4 lakh and he hospitalized twice in a year with bills of Rs. 2.7
lakh and Rs. 2.5 lakh respectively, the top-up plan will not trigger. The
top-up plan will only trigger if the medical expense crosses the threshold
limit of Rs. 4 lakh.
While selecting the
insurance plan keeps one important thing in your mind i.e. higher the
detectable, the lower will be the insurance premium. Do not opt for an
unrealistically high deductible just to save on premium.
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