Importance of Top-up Coverage in Health Insurance

17-04-2015 / admin / 0

Majority of people are well aware with term insurance policies and to give them the due, insurance companies in India have done a great job of promoting the plan. It is difficult to find a regular employed adult without having sufficient term insurance coverage, money back plans, unit linked insurance policies etc.
But, the scenario is not same when it comes to health insurance. Mediclaim policy is made to support insured person during sudden healthcare needs. It has been observed that there is need for large push towards healthcare plans.
People don’t pay enough attention while buying a policy because of lack of awareness or may believe that nothing can happen to their life. It is the misconception that most people have in their minds. With the increasing number of diseases mainly because of the misappropriate lifestyle being the serious reason of diseases and the ever rising cost of hospitalization.
It means people are committing mistake that skip online health insurance. Mediclaim policy occupies a vital part of an individual’s annual tax saving option. People consider this reason as the necessity of the plan. This policy is available in the form of personal accident coverage, indemnity cover, critical illness cover etc.
Consider a scenario; the major portion of the sum insured is exhausted because of a sudden emergency, then how will you manage to face additional expenses. During such situations, policyholders need to pay the leftover from their own savings and it will affect other priorities as well. Buying top up plans along with the basic healthcare coverage make sense under such condition.
It gives additional coverage and comes into play when the basic coverage gets exhausted. With the help of this cover, insured can easily meet any extra expenses in the hospitalization need. Instead of having a top up plan as a standalone cover, it is advisable to buy it with basic health insurance policy India.
Policyholders can buy top up plan from different insurance service provider than where you have the basic cover. In fact, you can also claim this cover and indemnity policy together for single hospitalization. Generally, it works only for a single incidence of hospitalization.

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