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What Is The Significance Of A Top-Up Health Insurance Plan?

Published On May 12, 2022 11:00 AM By InsuranceDekho

The cost of healthcare is steadily rising. There have been times when healthcare costs have grown faster than the overall rate of inflation. Lifestyle ailments, poor sleep, rising stress levels, and other reasons all contribute to this rise. More people are being admitted to hospitals regularly as the frequency of lifestyle ailments grows. As a result, having a comprehensive health insurance plan to counteract rising healthcare expenditures is critical. This is where health insurance plans come in, giving us peace of mind and allowing us to go about our daily lives without worrying about something unexpected happening. Health insurance coverage, although providing safety, may be expensive, with premiums going into the hundreds of dollars. Adding more benefits to an existing health insurance policy would raise the cost, but there is a creative way to get more coverage without breaking the bank. Continue reading to learn more about health insurance options.

What Is The Significance Of A Top-Up Health Insurance Plan?

The Importance Of Supplementary Health Insurance

In India, health insurance policies have exploded in popularity in recent years. The expense of medical care has steadily increased in tandem with advances in medical knowledge. Medical costs are expected to climb, putting a strain on your resources and assets. However, it is occasionally seen that a single health insurance plan is insufficient, especially in the situation of a family floater, when the sum covered is split by four persons. In such instances, getting two insurance policies or increasing the coverage amount is crucial. Top-up policies have emerged to augment basic policies to improve the amount covered or the total value of coverage. Top-up health insurance policies are intended to supplement your current coverage if it gets exhausted or insufficient for medical care. In a word, a health insurance top-up plan is meant to augment your existing coverage; nevertheless, HDFC ERGO offers me the following advantages: If the aggregate deductibles are met, the MEDISURE SUPPLEMENT PLAN can be utilized as a stand-alone plan. Most importantly, top-up options are available at a moderate cost with no compromises. It's the icing on the cake, and it's a little more expensive.

Why Do We Need Supplementary Health Insurance Plans?

Your health insurance needs may be met by a health plan provided by your employer if you work in a structured business sector. Your family may be covered under this plan as well. Have you ever thought about what would happen if you were to resign or retire from this position? It's important to note that health insurance offered by your employer is only valid for as long as you're employed there. Your military insurance coverage stops when you leave the service. In this case, you are underinsured, and you will have to pay a huge amount out of pocket if you have a medical emergency. Furthermore, even if you have health insurance, there is no guarantee that the amount covered will cover all of your medical costs. As a consequence, buying extra health insurance is a great method to make sure you're protected in the case of a medical emergency. A top-up cover for your existing health insurance plan provides you with additional coverage when your present health insurance plan runs short or your sum insured is insufficient to pay your medical expenditures. The following are some of the advantages of having health insurance top-up plans:

  • A top-up plan is less expensive than buying a separate health plan.
  • It lets you set your deductible amount.
  • It's simple to get a top-up plan. Without any restrictions or hassle, you may obtain a top-up plan from your existing health insurance provider or other health insurers.
  • A top-up plan can be added to your family floater or individual health plan.
  • You can earn tax benefits under Section 80D of the Income Tax Act of 1961.

Take Away

Top-up plans are the finest supplemental option since they include the best of both worlds: a low premium and a larger coverage amount. It's a blessing in disguise for the elderly, who are at an age when their risks of being ill are significantly higher and their medical expenses are certain to rise. Even if your job provides health insurance, you may want to consider purchasing a separate top-up plan to enhance the base coverage. As a consequence, a top-up plan is suitable for anyone seeking a greater insurance sum at a low cost.

Also read- What Is The Difference Between GPA And GMC In Health Insurance Plans?

The Following Is A List Of Diseases That Are Covered By Our Medical Insurance.


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.

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