Differences Between Top-Up Health Insurance and Super Top-Up Health Insurance – DNA India
Reported By:| Edited By: |Source: |Updated: Mar 26, 2022, 12:13 AM IST
Differences Between Top-Up Health Insurance and Super Top-Up Health Insurance
If you are planning on enrolling for health insurance, be sure to read this blog first! Deciding on one’s health insurance plan can be confusing because there are several types of insurance plans. In this blog, we explain about two popular types of insurance – top up health insurance and super top up insurance.
How is this different from basic insurance?
Basic Health Insurance: A basic insurance plan provides reimbursements up to a certain fixed amount. You can think of top up and super top up plans as an add-on insurance that you avail when you exceed your insurance limit. These provide reimbursements over and above the deductible/ threshold amount.
What is deductible?
It is the amount of money that must be paid by the owner of the policy with a top up, in case hospitalisation is involved. Only after this is paid will the insurance company settle the claim. Many companies request deductibles from the policy holder’s side. This is because the companies want to discourage trivial/ unnecessary claims for reimbursement.
An example: Maanasa has opted for top up insurance for a sum of Rs. 15 lakhs with a deductible of Rs. 3 lakhs. A few months later, she raises a claim for a hospital bill of Rs. 8 lakhs. Now, she has to pay her deductible amount of Rs. 3 lakhs (as fixed earlier) and the insurance provider will bear the remaining Rs. 5 lakhs.
Differences between Top up and Super Top up Insurance
Deductible Paid once in a year only
In case of top up insurance, the deductible must be paid every time you request for reimbursement above the base threshold of the policy. This is where Super top up insurance has a good advantage over top up insurance. With super top up insurance, it is enough if you pay deductible once in a policy year. Thus, if you claim reimbursement again within the same year, you need not pay deductible for a second time.
Benefit to chronic patients
Super top up insurance is ideal for those who require frequent hospitalisation, over top up insurance. The reason is because patients with multiple illnesses might require multiple visits to the hospital, and with super top up insurance you need not pay deductibles for each visit. The elders of your family, who are usually prone to diseases will benefit from this type of insurance. If you or your relatives do not have any severe or chronic disease and are not at any foreseeable risk, a top up insurance plan might be enough.
How many times a claim can be raised
With top up insurance, you can make one claim over and above the deductible. If you opt for super top up insurance, you can pay the deductible once and avail the insurance multiple times within the specified policy duration until the sum insured is exhausted.
Stay insured and stay healthy!
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