What Is A Super Top-Up Health Insurance Policy?
Published On Aug 24, 2021, Updated On Aug 25, 2021
Table of Contents
Life is unpredictable and full of unforeseen events that can potentially stress out an individual physically, mentally, emotionally, and financially. Health insurance plans play a vital role in supporting an individual at the time of medical emergencies as it compensates for the medical dues which can incur during hospitalization. The standard health insurance plans come with base benefits like hospitalization expenses, room rents, ambulance charges, daycare procedures, etc. which can be insufficient to meet the expenses of the people suffering from critical diseases and pre-existing diseases.
Health insurance providers have launched top up plans and super top up plans to add extra value to the base health insurance plans of the customers. These plans come into force when the expenses exceed the threshold limit of the base plan. Unlike top up plans, super top up plans compensate for multiple claims in a policy year after the exhaustion of the sum assured under the standard health insurance plan. It covers cumulative expenses above the deductible limits of the health insurance plans. Super top up plans can be bought from any insurer and not necessarily from the one that offered you the base health insurance plan.
About Super Top Up Health Insurance Plans
A super top up health insurance plan compensates for multiple medical dues that can incur in a policy year after the expenses exceed the deductible limit of the standard health insurance policy. It offers added coverage to your base plan and secures you against surgical expenses, unexpected medical procedures, etc. This plan does not work on the per single hospitalization basis and is affordable with wide coverage. Let us look at some of the key benefits of the super top up health insurance plans that can be availed by the customers at the claim settlement process:
- This plan includes the COVID-19 specific coverage for the policyholder along with the other inclusions, to help people deal with the global pandemic.
- Under this plan you must pay the deductibles once and then you can claim the cover multiple times in a policy year.
- The limit of the deductibles is customizable and hence, can be set by the policyholder according to their budget.
- The sum assured under this plan is high to help you overcome the financial burden at the time of claim settlement.
- You can enhance the coverage for your senior citizen parents at a lower premium.
- Tax savings benefits are also available under the super top up health insurance plan for the policyholders who are also the taxpayers.
- The claim settlement process of this plan is quick, smooth, and hassle free.
Who Must Buy A Super Top Up Health Insurance Cover?
Considering the benefits of the super top up health insurance plans, it can be bought in the following cases:
- Senior citizens or the parents can get a super top up plan to get lower premiums and wider coverage for their health insurance policy.
- Employers must invest in a super top up plan to enhance their corporate health insurance plan which might not be sufficient to meet their expenses in certain circumstances.
- Anyone who finds their base health insurance cover to be insufficient can buy a super top up plan to get extra coverage at an affordable price.
How Does A Super Top Up Plan Differ From A Top Up Health Insurance Plan?
Both top up health insurance plan and the super top up health insurance plan come into force when the medical dues exceed the threshold limit of the base health insurance plan, but top up plan deals with only a single claim in a policy year while a super top up plan can deal with multiple claims in a policy year with a single deductible payment. The working basis of both the plans differ but the purpose of the plans is similar, which is to provide financial aid to the policyholders after the exhaustion of the sum assured of the standard health insurance plan.
A super top up plan is better as it provides multiple claims in a policy year. Therefore, if you have to visit the hospital frequently for medical treatments or have to undergo multiple hospitalizations then you can invest in a super top up health insurance plan.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.