How to increase health insurance coverage?
Updated On Jan 04, 2023
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In today’s uncertain times, there are several factors such as an unhealthy lifestyle that lead to an increase in health problems. Moreover, with the ever-increasing medical expenses, it becomes all the more imperative to plan for unwanted medical expenses in advance. A health insurance plan in such a case can be extremely helpful as with a health insurance plan, you can get protection against all health emergencies. But, many times, the coverage offered under a health insurance plan may seem inadequate and you may want to increase the coverage in such cases. If you have been planning to increase your health insurance coverage, then read on to understand how to do the same.
How to Increase Health Insurance Coverage
If you think that your health insurance plan is insufficient for you, then here are some ways in which you can increase your health insurance coverage.
- Increase sum insured during renewal: The best time to increase health insurance coverage is during its renewal. The provision to do so is provided by every health insurer at the time of renewal so that policyholders can get satisfactory coverage. The good part about increasing the sum insured during the time of renewal instead of buying a new health insurance plan altogether is that you will no longer have to go through the waiting period clause, once again.
- Opt for a super top-up plan: In order to increase the coverage of your existing health insurance plan, you can also opt for a super top-up plan. With a top-up plan, you can get coverage above the deductible limit. Moreover, with a super top-up plan, you can also get coverage for multiple claims and thus enjoy a wider coverage overall. A super top-up plan also provides tax deductions as per Section 80D of the Income Tax Act, of 1961.
- Port your health insurance plan: You can also port your existing health insurance plan, which basically means to switch into another health insurance policy. Once you port your health insurance plan, you can also get your sum insured increased, however, this increase solely depends on your insurer and also on the frequency at which you have raised health insurance claims in the past. During the portability of your health insurance plan, you also need to fill out a proposal form as well as submit your previous health insurance copies and other documents to get your health plan effectively switched.
- Buy family floater plans: To get your health insurance coverage increased, you can also opt for buying family floater health insurance plans. With a family floater health insurance plan, you can get coverage for your family members and other dependents. A family floater health insurance plan is thus advisable for those who have a family as compared to individual health insurance plans.
- Choose the right add-ons: You can also get the coverage of your health insurance plan increased by choosing the right add-on. There are different add-ons or riders available in different health insurance plans that will simply help you in enhancing the benefits of your health insurance plans. For instance, you add maternity riders to your health insurance plans in case you are planning for pregnancy in the coming days. There are other popular add-ons that you can add to your health insurance plans such as room rent waiver, critical illness cover, personal accident cover, and more.
- Get no claim bonus: A No Claim Bonus is issued in case you do not raise any claims in a year. With a No Claim Bonus, you can either get discounts or wider coverage, so make sure to avail the benefits of the No Claim Bonus.
- Purchase health insurance at an early age: It is advisable that you buy your health insurance plan at an early age. This will help you in getting wider coverage as when you buy a health insurance plan early, then due to the lesser risk of being affected by health ailments, chances are that you will get better coverage at a lower premium. So, it is always a better idea to purchase health insurance at an early age rather than buying it when you are old.
Take Away
Thus, there are numerous ways in which you can get the coverage of your health insurance increased. From increasing the sum insured during the time of renewal to the option for family floater health insurance plans, you can easily enhance the coverage of health insurance plans. In case you need any more assistance with health insurance plans, you can easily contact us at InsuranceDekho.
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