Need to boost your health insurance policy? Here’s how to go about It

Need to boost your health insurance policy? Here’s how to go about It

Health insurance is a kind of insurance coverage that allows the insured to claim payments for his/her surgical and medical expenses. Due to COVID-19 there is an increase in awareness among consumers about buying health insurance policies. This shows that many Indians are already aware of the importance of having their health insured. However, in India, the health insurance is still highly underpenetrated category.

Should these people also try to get insurance coverage for their health? Here are some reasons. In India, the healthcare system today is still largely underfinanced and is dependent on out of pocket spends. Considering increasing medical expenses, buying a health insurance plan can handle a significant part of your healthcare-related costs. This is especially helpful for medical emergencies when liquidity becomes a cause of worry. With insurance coverage for medical costs, you can focus on your treatment outcome and recovery. And who knows? Not stressing over costs may even help you get well sooner.

A health insurance plan usually covers the costs for hospitalization, medical tests, doctor consultation fees and more. You only need to pay a small premium amount annually. Often, you as the insured can get a “no bonus claim” (NCB) if you haven’t filed a claim for any treatment in the year before. Besides, the premium you pay on health insurance is applicable for tax deduction under the Income Tax Act, Section 80D. Some insurers also provide complimentary wellness program, where the customers can earn points for participating in these programs that enable them to reduce their health insurance premiums.

When Do You Need to Boost the Health Insurance Policy?

Say, you opt for a health insurance plan in India. The regular insurance policy will come with a sum insured up to a specific limit. Therefore, your primary policy will not cover any medical expenses that you incur beyond that limit. Treatment for major health conditions come with heavy costs of surgical and other procedures. You never know whether your existing insurance policy can cover all those expenses if you or your family members need such treatment. Moreover, in case of accidents, your insurance coverage may again fall short.

Well, you cannot possibly predict accidents or the need for any major treatment years before. But you can always stay prepared to finance them. That is why you should consider boosting your health insurance plan.

Why is Super Top Up Health Insurance Policy the Best Way?

When it comes to increasing your health insurance coverage for life’s uncertainties, the best option is to go for a super top up plan. The coverage amount it offers can be increased over and above the existing plan.

super top up health insurance policy works like a regular insurance plan in covering hospitalisation costs but only after a “deductible”. The deductible or the threshold limit is that part of the claimed sum which the insurer needs not cover. The policyholder pays for it before the benefits of the plan kick in. Higher the deductible, lower the premium of the policy. Such a feature makes a super top-up policy highly cost-effective since it lowers the liability of the insurance provider. In this way, a super top up plan enhances the insurance sum insured at a lower cost.

Moreover, when you link a super top up with an employer-provided insurance policy, often the waiting period of PEDs (pre-existing diseases) gets waived off.

Besides, like any other health insurance plan in India, a super top up policy also facilitates tax deductions on the premium paid under Section 80D of the Income Tax Act.

This policy becomes effective after the amount insured by your existing plan is inadequate to settle a claim or gets exhausted. If you choose a good policy provider, you can buy a super top up plan for both yourself and your family.

Why Choose ManipalCigna Health Insurance Super Top Up Policy?

The ManipalCigna super top up health insurance plan offers the following benefits to help you make the most of the policy:

  • You can go for any room category of your choice during hospitalisation.
  • You can also avail yourself of a guaranteed cumulative bonus to beat medical inflation. ManipalCigna offers you a 5% increase in the amount insured every policy year up to 50% of the insured sum, regardless of your claims.
  • The policy also covers payment of medical expenses for dialysis treatment, regardless of the number of times the insured person requires hospitalisation.
  • You can get yourself, your spouse and kids covered on either a family floater or individual basis. For your parents, you can go for a separate family floater plan. Moreover, your extended family such as your aunt, uncle, siblings, cousins, grandchildren, grandparents, and in-laws can be covered on an individual basis.
  • A waiting period of 24 months for specific illnesses will apply to the treatment (surgical or medical) for all kinds of expenses. This extends to the case of medical complications as well.
  • Even if you don’t already have a health insurance policy, you can buy this super top up plan. In that case, you only need to pay for the expenses from your pocket until you cross the deductible limit and the top up amount insured kicks in.
  • ManipalCigna’s super top up health insurance plan, is a value for money plan that offers a wide range of Sum Insured ranging between Rs. 1 lac to Rs. 30 lacs at an affordable premium amount. Everyone can’t afford to buy sufficient health cover. For such individuals, ManipalCigna’s ‘Super Top Up’ plan is an excellent way to increase the cover while keeping costs in check. The plan also helps you save taxes for a maximum of ₹25,000. Moreover, you can get access to cashless treatment at more than 6500 hospitals in India and enjoy non-payable coverage for medical expenses.

Now that you see the importance of purchasing a super top up health insurance policy in India and the various benefits you can avail of with such a policy offered by a reputed company like ManipalCigna Health Insurance, go for it and make sure to boost your present health insurance to be prepared to face any medical uncertainties or emergencies.

Health insurance is a kind of insurance coverage that allows the insured to claim payments for his/her surgical and medical expenses. Due to COVID-19 there is an increase in awareness among consumers about buying health insurance policies. This shows that many Indians are already aware of the importance of having their health insured. However, in India, the health insurance is still highly underpenetrated category.

Should these people also try to get insurance coverage for their health? Here are some reasons. In India, the healthcare system today is still largely underfinanced and is dependent on out of pocket spends. Considering increasing medical expenses, buying a health insurance plan can handle a significant part of your healthcare-related costs. This is especially helpful for medical emergencies when liquidity becomes a cause of worry. With insurance coverage for medical costs, you can focus on your treatment outcome and recovery. And who knows? Not stressing over costs may even help you get well sooner…Read more>>

Source:-dnaindia

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