Expert tips on picking the right super top-up plan for your needs

Healthcare costs are reaching new heights every day. Although technological advancements have introduced several new treatments in modern times, you usually have to burn a hole in your pocket to access them. Half a week of hospitalisation is enough to deplete a significant amount of your hard-earned money, especially if there is any surgical intervention.  

So, the importance of health insurance is gaining significant momentum with time. But, if your sum insured limit gets exhausted amidst your hospital treatment, matters take a sour turn, especially financially.  

So, the insurance companies have introduced top-up plans. These plans allow additional coverage protection on exhaustion of your base plan limit. However, you can enjoy this coverage only once per year. 

Here comes the concept of a super top-up plan. Since health issues are unpredictable, you never know when or how you will get affected. These plans allow you to enjoy additional coverage protection multiple times a year as required.  

What are super top-up plans? 

Super Top-Up Plans are health insurance policies that provide additional coverage once your total medical expenses in a year exceed a predefined deductible limit. It works alongside your existing policy or out-of-pocket payments, covering multiple claims within the same year. This makes it an affordable way to get higher coverage without increasing your base policy premium. 

Let’s explain with an example. Say, if you have a base health insurance plan of  Rs 10 lakhs, you opt for a Super Top Up plan of Rs 40 lakhs with a deductible of Rs 10 lakhs. 

  • So, for your hospitalisation claim upto the initial Rs 10 lakhs, your base health insurance plan will pay. 
  • Once your aggregate claim for the year exceeds the threshold deductible limit of Rs 10 lakhs, your super top-up plan gets triggered. 
  • All hospitalisation claims from Rs 10,00,001 to Rs 50,00,000, i.e. an additional amount of Rs 40 lakhs from Rs 10 lakhs, would be paid by the Super Top Up Health Insurance Plan. 

Important aspect: The premium for a super top-up plan is minimal as compared to the base plan, as the super top-up plan does not pay the initial amount of Rs 10 lakhs. So, this is a great way to enhance your overall health insurance coverage without much pressure on your wallet! 

Why consider a super top-up plan? 

The medical inflation in India is about 14%¹ year-on-year. It comes in handy with the soaring prices of healthcare and medical treatments. An all-inclusive plan may not suffice with skyrocketing hospitalisation costs and rising incidents of critical illnesses.  
 
This is why everyone should consider enhancing their health insurance coverage. A super top-up plan increases your coverage beyond your base coverage. It benefits middle-class families looking to secure their savings against unforeseen medical emergencies. The super top-up plan benefits patients with lifestyle diseases or public healthcare infrastructures with high medical costs that break their budgets.  

You might enjoy an employer’s health insurance protection as a corporate employee. However, they often prove to be insufficient. If you maintain a super top-up plan, you can feel the difference.  

If you have health insurance but the sum insured amount is low, you can purchase a top-up or super top-up plan on top of it rather than buying a whole new base plan wherein you can ensure enhanced health insurance coverage protection with this plan.  

Key benefits of a Super Top-Up Plan: 

Super top-up plans are exclusive, unlike any other health plans. Some of the essential benefits of this plan are: 

  1. Effective booster: A super top-up plan is an effective booster to your existing plan maintaining an affordable approach. 
  2. Multiple claims: This allows multiple claims in one policy year, provided the deductible is met. 
  3. Ensures effective management: This ensures easy management of significant medical expenses.  

Expert tips for choosing the right super top-up plan 

To ensure choosing the correct super top-up plan, you must follow these tips and tricks: 

Understand the deductible:  

This is the technical term used to refer to the sum you must pay out of your pocket during claim settlement. This is considered the threshold after which the concept of super top-up plans comes into the picture.  

Pro Tip: Ideally, you must match the deductible with the essential coverage limit of your base health insurance to avoid your out-of-pocket expenses..  

Evaluate premiums:  

You can enjoy the protection of a super top-up plan at a nominal additional premium, provided you have an existing health insurance plan. You can use the premium calculator to assess the premium payable amount. Some of the important determinants of premiums include the age of the insured, medical history, the sum insured, and the deductible amount.  

Pro Tip: Ideally, you should research multiple competent plans across several insurers to understand the scenario well. You must strike a proper balance between adequate coverage and affordability. 

Coverage limit:  

Since super top-up plans are comparatively cheap, you can opt for high coverage. However, you must compare different plans before zeroing in on one. 

Pro Tip: If you feel your family is prone to health risks involving high treatment costs, opt for a relatively high coverage limit. Ensure that it complements your existing protection. 

How do you pick a wallet-friendly super top-up plan? 

To enjoy enhanced health insurance protection amid such steep inflation, you can use these tricks to enjoy a super top-up plan. Picking a wallet-friendly super top-up plan in India requires careful consideration of your healthcare needs and budget: 

  1. Start by assessing your existing health insurance coverage and identifying potential gaps. 
  2. Look for plans with a deductible amount that aligns with your current policy’s sum insured, ensuring the top-up plan activates when needed.  
  3. Compare premiums across insurers, but don’t compromise on coverage—opt for plans that offer comprehensive benefits, including coverage for critical illnesses, pre- and post-hospitalization expenses, and daycare procedures.  
  4. Check for co-payment clauses, waiting periods, and network hospitals to avoid unexpected costs.  
  5. Lastly, read customer reviews and claim settlement ratios to ensure the insurer is reliable.  

By balancing affordability and coverage, you can choose a super top-up plan that provides financial security without straining your budget. 

Conclusion 

Author Bio

Paybima Team

Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

Choose from India’s top insurers

Latest Post

Having health insurance is now a top priority among potential policyholders, who are increasingly aware of the importance of accessing quality healthcare at an affordable cost. Not only does it handle finances, but it also gives peace of mind during medical emergencies. Getting coverage without dealing with cash or documentation makes the cashless claim process an attractive feature of the health insurance. 

Rather than making an advance payment and waiting for reimbursement, policyholders can receive healthcare from network hospitals without incurring out-of-pocket expenses. With its support, worrying about finances becomes less of a concern, and managing healthcare bills becomes simpler. For emergencies, where time and money are of concern, using cashless claims is very helpful for individuals and their families.
 

See nowSee now

If you are planning to buy two-wheeler insurance and are seeking answers to some frequently asked questions, look no further. Read on to know the two wheeler insurance FAQs related to bike insurance policy in this post.

See nowSee now

Choudhary is a privately employed person in Bangalore, and he uses a car to commute to his office daily. While driving his vehicle one day, he met with an accident that resulted in major damages and rendered his car useless. Since he had a car insurance plan, he claimed total loss and that helped him manage expenses without causing any financial burden on him.

See nowSee now

Buying two-wheeler insurance online can be a bit overwhelming for first-time buyers and even for policyholders with prior experience. While it is recommended to compare insurance plans before buying them, having some basic understanding will help you extract the most out of them.

See nowSee now

If you think lifestyle-related health issues only show up after 40, think again. Youth no longer guarantees immunity. Today’s 25 - 35 age group is increasingly facing medical issues that only plague older adults. The reason? Long working hours at the desk, deliveries on speed dial, and a social life that rarely includes a decent amount of sleep are some of the reasons for the early onset of medical conditions like diabetes, anxiety, and hypertension.   

See nowSee now