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Top-up Health Insurance Plans Types Beneficial Tips, How to Start and Details

If you order a basic pizza, the person in charge of paying will usually ask if you want any extra toppings like cheese, olives, chicken, or something else. In this way, these toppings are like the extras that come with health insurance. Every medical insurance plan has a maximum amount of coverage that can be used up. To get more security at a fair price, top-up plans are useful. See below for the Top-up Health Insurance Plans Types Beneficial Tips in detail.

Top-up Health Insurance Plans Types Beneficial Tips

Now, let’s say you bought a health insurance plan with a sum guaranteed of 10 lakhs. However, Rs. 10 lacks can run out in just a few days at the hospital because of the rising cost of medical care and higher risk of chronic diseases, especially since the pandemic. You can get out of this situation in two ways. The only thing that would be different is the premium. You could buy another insurance with a bigger sum assured, or you could use a top-up plan to raise your sum assured.

Top-up insurance is used after the main insurance contract has been used up. Let’s say you had this Rs. 10 insurance and got sick with a long-term liver problem. Your bill was Rs. 16 lakhs. Your main policy will run out of money, and the extra Rs. 6 lakhs can be paid for with the top-up policy.

People often mix up top-up plans and riders, but they are not at all the same thing. Top-up policies are like main insurance or reimbursement policies. The only thing that makes them different is the premium, or the price you pay to have one.

What top-up insurance plans cover

• As was already said, these plans are like main health insurance plans, so you can also turn them into primary plans.
• If both parents are covered by a top-up insurance plan, the child can also be covered by the same plan.
• There are no higher or lower limits on hospital costs like doctor’s fees, bed charges, and other costs.
• A lot of the top-up plans give extra money on top of the sum promised for years when no claims are made. With top-up plans, you don’t have to get regular check-ups like you do with basic plans.
• As long as you have basic health insurance, you can use these plans.
• You don’t have to wait a year to repeat the top-ups.

What coverage top-up deals offer

• Most of the time, top-up plans cover the following costs:
• Costs of getting ready for hospitalization 60 days before hospitalization
• Post-hospitalization cost for 90 days after leaving the hospital
• Procedures that can be done at day care and need less than 24 hours of stay
• Some plans also pay for the costs of the organ donor.
• The hospital bills will be paid for in full, including room and board, medicine, nurses’ and other staff members’ pay, OT fees, the cost of artificial life support machines, implants, and medical tests.

Who should get extra health insurance?

These plans can be bought by anyone, but top-ups work best for families with older members. As people get older, their health risks rise, and so does the chance that they will run out of basic health plans. For this reason, having both top-up and main insurance can be helpful for older people. Also, having a basic health insurance policy with a bigger sum assured and top-up plans can be helpful for people who have long-term illnesses that need to be hospitalized a lot.

Why top-up plans are good

• Top-up policies can save you when your main policy has run out of money but the renewal date is still a long way off. Let’s say you need to go to the hospital during this time. You can use the top-up plan and not worry about the costs at the hospital.
• Top-up policies will cost you a lot less than primary policies, but they will give you the same security.
  As long as you pay your premiums on time, you can also get tax breaks under section 80D of the IT Act.

In conclusion

Most people are scared of inflation in general, but medical inflation is a whole other story. It’s causing many families to lose their life savings. As a result, making extra plans to protect your health and money might be a good idea right now. The only reason for this blog is to teach, so don’t take it as personal advice. People are being asked to buy insurance.

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