To discuss the Importance of having a backup plan for top-up health insurance, it is imperative to understand the meaning of top up health insurance. This is where the top up plan will help and support you. This plan will increase the total cover amount thus expanding the sum insured amount to meet your needs.
A top up health insurance holds a significant place, as it cuts on the out of the pocket expenditure in case of emergencies and allows you to have top notch healthcare facilities. Here are some added benefits of a top up health insurance:
1. Coverage Over And Above Your Base Plan
It acts as a financial backup when you exhaust your base policy. You can easily buy a top up health insurance policy after discussing how it covers all your additional costs and relieves you from an unprecedented financial crunch.
2. High Cover At An Affordable Premium
Till now, you might be guessing that these top up plans must be expensive, well that isn’t true. They instead come at highly affordable pricing and lets you avail double benefits of higher sum insured but at a lower cost.
3. Battles Against Medical Inflation
The medical inflation in the country is no more a secret. As per the data, the surge currently stands on a 20% , making the plight even worrisome. This worry can easily be shielded by your insurance policy provider with a top up health plan.
A top up plan is the best plan that keeps you at the prime of all the planned and unplanned expenses. The minimum age to avail a top up health plan is 18 years and the maximum age limit is 80 years as provided by most of the insurance companies.
Select a policy after you thoroughly analyze it of its day care procedures, any pre existing illness, pre or post hospitalizations. You can also avail benefits from the premium that is paid against the top up policy towards section 80D of the Income tax Act. Concluding it all, inspect the deductible amount and then choose what suits you.
You can also Read- How to select the Best Health Insurance Plan for a Senior Citizen
To summarize choosing a top up plan is no more a choice but almost a necessity. To categorize its advantages broadly, there are two major benefits:
1. Economical Option:
When you compare the top up plan with a regular health insurance plan for the same amount, a top up plan will cost you lesser. This way the policy holder will pay less but benefit more.
2. Broader Coverage:
By offering you the sum assured in addition to the amount offered by your base health insurance plan, a top-up plan efficiently enables a broader coverage.
Top-up plans are known as the most appropriate supplementary alternative that comes with multi benefits of low investment and higher insurance amount. Top up plans are exceptionally beneficial for senior citizens and the risk of catching an illness or falling sick is slightly higher.
Despite having a basic health plan that covers you on all essential fronts, a top up plan is exceptionally advantageous for senior citizens, those who fall under low income group and rural population. For anyone who is looking for a smart investment that assures peace of mind, a top up plan works just the best.
