The Role of Top Up Plans in Health Insurance
Our home is undergoing a makeover for the festive season ahead and we are trying to tone it up by throwing away the unnecessary items lying in the house for long time. In this search, I happened to find few old albums with my childhood pictures. I quickly ran through them and it was a pleasant surprise for me to unexpectedly run through those childhood memories. The first pass port size photograph for school admission, fancy dress competition, a picture when I was sleeping along with my pet dog and so on. It was an overwhelming emotion to see all of them as my parents left no stone unturned to keep my memories safe. Just like every other loving parents, they took extreme efforts to shape me up as a reasonable individual. I always feel like giving back the same love and affection to them and I think I did it so far with the same intuition. However, they are growing old day by day. It may not matter the most if I took care of them till now, but it matters now whether I give them a comfortable living in their old age or not. With every passing day, they are ailing with lessened vigor. What is it that I can do to keep them safe and happy?
A decent insurance policy! As a matter of fact, I bought a policy for both of them! But does that cover from all the threats? I don’t want to stop myself in scouring for the detailed information. In this course, I found interesting information. “Super Top up plans in health insurance”!! Let me explain you the role of Super top up plans in health insurance! Many people think that a health insurance policy suffices all your hospitalization bills. But it may be untrue! You read that right. There are situations when you end up exhausting your insurance coverage. And the additional bills incurred after the coverage is exhausted may drill your pocket. Suppose if you have an insurance coverage of Rs.5,00,000 and your hospital bill is Rs.7,00,000, you only get a coverage of Rs.5,00,000. The rest of Rs.2,00,000 may drain your bank accounts. If you go for a top up, it may save you from these unexpected bills. In simple terms, a super top up plan protects you after your insurance threshold limit gets over.
However, it is unlikely that you get the super top up coverage before you consume the actual insurance coverage of Rs 5,00,000. Inorder to activate a Super Top-up plan, a minimum threshold limit has to be achieved known as the Deductible, which you can choose along with the necessary Sum Insured at the time of purchasing the Super top-up plan. In the above example, it is not possible to spend the top up coverage amount that is Rs.2,00,000 first and Rs.5,00,000 later. The higher the premium for super top up plans in health insurance, the better the coverage would be. However, it is not always correct to follow the premium rates in order to call it a better policy. You may hire an insurance advisor to understand the loopholes of an existing policy with a top up plan. They understand it better and can anticipate the policies which have maximum coverage for lowest premiums for you. They would also help you in comparing the features of different policies and their top ups thereby enabling you to pick the best one out of the lot. It is not necessary to pay for the super top up plan at the time of purchasing the insurance policy. As the name suggests, you can add it on later. However, it is also possible that you purchase a super top up plan at the time of purchasing the policy.
Since both of my parents are growing old and are ailing, I prefer to add a super top up policy to both of their policies though I have not taken them at the time of purchasing. I at least can have a sense of security that I can get them the best treatment in my limits without having to think about the consequences and hospital bills. After all their years of hard work for me and my upbringing, it is the least thing that I can pay for them for their well- being. It is just that they took care of me when I needed care and now I take care of them when they need the care. It is simple to get a super top up plan online and you can even get comparisons between the various available plans. I could finish the job by the evening and it gave me a sense of security for my parents. After all, it is worth making over the home to understand the role of super top up insurance in health insurance plans and their benefits in safeguarding health of you and your loved ones.!!