Escalate your health insurance cover – Money Mindz

By | 08/05/2018
Escalate Your Health Insurance Cover

MoneyMindz – India’s First Free Online/On-call Financial Advisory Portal – Escalate Your Health Insurance Cover

Despite being insured sufficiently you may still require more money when the actual time comes! What should you do then?

People are apprehensive about health insurance requirements in our country nowadays. You might be insured, but will that amount be sufficient to sustain your future requirements, especially with inflation on the rise? You can either upgrade your insurance policy or go for a top-up plan. What should you do?

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Enlarge the insured sum or a top-up policy

You boost the sum insured of your health insurance policy, that’s what boosting an existing cove means. Broadening a regular cover provides protection for the whole insured sum. Top-up plans cover you after some amount, known as a deductible, has been crossed. That’s why they are cheaper when you purchase a regular plan for the invariable sum insured. Top-up plans work on per single hospitalization footing and assist you when one claim amount goes above the threshold limit. They also are accessible in the market that contemplates aggregate of claims per policy year without any hospitalization. These policies are feasible in individual and floater sum insured options.

Characteristics of Premiums

Comparatively, top up plans have lesser premiums due to a deductible threshold that has to be paid by a regular health insurance policy. Otherwise, you may have to pay from your own pocket.

Finest privilege to opt for

A top-up plan is worthwhile if you want a supplementary sum insured. If you want further gains, like overseas treatment and maternity benefit along with the embellished sum insured, enlarging the cover of an existing insurance policy is exceptional. Top up plans can be selected and covered competently to face adverse medical conditions in future.  Enhance the sum insured of existing policy as well as the sub-limits.

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