Health insurance is the health coverage provided by the insurance company to the insured in return for a premium. In case of hospitalization of the insured customer the insurance company would pay and settle the claim bill up to the sum insured available under the policy.
But have you thought about what happens if your hospital bill is more than your health insurance coverage?
Can you purchase a higher health insurance coverage with high premiums?
Is it justifiable or affordable to purchase a higher sum insured health insurance policy?
The solution for this is a super top up health insurance plan which can be taken in addition to the basic health insurance policy. Super top up health insurance plan is also a health insurance plan which works on the same lines of a health insurance policy.
Let's understand the super top up health insurance plan and its working model.
Super Top Up health plan:- The super top up health insurance plan is a type of health insurance plan that covers your hospital bills if the hospitalization amount is over and above the deductible amount. The deductible under the super top up health insurance plan can be selected by the insured customer. Super top up health insurance plan will be activated once the claim amount exceeds the deductible limit mentioned under the policy.
Super top up health insurance plan has an advantage when compared with a top up health insurance plan. Under the super top up health insurance plan the aggregate of deductibles of all the claims made during the policy period will be considered as deductible whereas under the top up health insurance plan deductible is considered for each and every claim made during the policy period.
Working Model:- The working model of super top up health insurance plan is explained with the below examples:-
Suppose Mr. T has a retail health insurance policy of Rs.5 Lakhs and has taken a super top up health insurance plan for Rs. 10 Lakhs with an aggregate deductible of Rs. 2 lakhs.
Situation 1:- For instance if there is a first claim under the policy and the claim amount comes to Rs. 5 Lakhs, then the base policy would pay the entire amount whereas the super top up plan would not be triggered. If there is a second claim of Rs. 2 Lakhs in the same year, then the super top up plan would be triggered but no amount would be paid as the claim amount is not more than the deductible amount.
Situation 2:- For instance if there is a claim of Rs. 8 lacs, then Rs. 5 Lakhs would be paid by the retail health insurance policy and Rs. 1 lakh would be paid by the super top up health insurance policy. The remaining Rs.2 lakhs must be borne by the insured customer as it would come under the deductible amount. The next claims under the policy would be paid up to the sum insured available under the super top up plan.