Get Over Your Worries with Top-Up Plans - Deductible Health Insurance

1. Family Health Plan

2. Get Over Your Worries with Top-Up Plans - Deductible Health Insurance

3. When one plans to have insurance of any kind, the first point of concern is- how much to buy? Insurance is definitely a pre-planning tool and helps you to keep financial worries away. • So it is imperative to understand your requirements and your budget. Buying insurance plan randomly will not aid you to plan for the rainy day, instead it will become a burden and opting out might not be possible before a certain period of time. • The same concern arises when you are buying health plan. But there is good news for you. Now health top-up plans are there for your rescue. Planning does help but it may not serve any purpose when it comes to health issues.

4. What is health top-up plan? • Top-up plan is a kind of coverage that provides you funds when sum insured of your existing health policy is exhausted. It is an extended coverage you get over and above your existing policy coverage. • A certain threshold limit or deductible amount is chosen by you while buying the top-up plan. But there is a caveat. • The Health Insurance Company pays you only when your bill is exceeding the threshold limit. • Let us understand the concept of top-up plan with the help of an example. For instance, Ms. Priya has a health policy with Rs 10 lakhs as sum insured.

5. Is it necessary to have regular health policy to have a top-up family health plan? No, it is not required to have regular health insurance policy in order to buy a top-up health policy. • Though the concept is to upgrade the existing policy, it is not necessary to possess a regular policy. The idea is to enable consumers to pay for their medical bills in an affordable way. • In case, the insured does not have any existing health insurance policy, the threshold limit opted by him would work as deductible. That is, a specific amount of bill will have to be paid by the insured. Once this amount is paid, the top-up plan can be used to pay the remaining amount. • [Source: http://www.policyx.com/blogs/get-over-your-worries-with-top-up-plans-deductible-health-insurance/]

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