In the times of rising medical costs the perfect health protection for you and your family it is important that you have adequate health insurance cover for your family. Although most of us already have cover upto 5 lacs by paying hefty premiums we have never thought of opting for health insurance cover of 10 lacs, 15 lacs 20 lacs and so on.
Since most of the insurance companies offer health cover only upto 5 lacs, buying 4 insurance cover of Rs 5 lacs each will turn out to be a very costly proposition. Here come new type of Health insurance cover " Topup insurance cover" In which you can take topup insurannce cover upto 15-20 lacs by paying fraction of premium which you will have to pay by taking 4 insurance cover of 5 lacs each.
It takes care of the medical treatment costs incurred during hospitalization due to serious accident or illness. This policy can be taken as add on cover to your existing hospitalization – medical expenses policy. In case of higher expenses due to illness or accidents Extra care policy takes care of the additional expenses. Most of the terms and conditions for the Topup Insurance cover remains the same except that there is a Deductible threshold.
It takes care of the medical treatment costs incurred during hospitalization due to serious accident or illness. This policy can be taken as add on cover to your existing hospitalization – medical expenses policy. In case of higher expenses due to illness or accidents Extra care policy takes care of the additional expenses. Most of the terms and conditions for the Topup Insurance cover remains the same except that there is a Deductible threshold.
- Floater Policy (sum insured floats over members covered)
- No Medical tests upto 55 years subject to clean proposal form.
- Pre-existing diseases covered after 4 years.(Might vary between different Insurance Companies)
- Continuity for waiting periods would be given for any indemnity cover irrespective of Sum Insured in the earlier policy.
- The primary member or the proposer can cover Self, Spouse, and 2-3 Children under this policy.
- The premium would be calculated as per the highest age of the family member.
- Members covered under Medical expenses (Hospitalization)policy. This policy covers the medical expenses in excess of the specified deductible amount.
- Members who do not have any Health policy can also opt for this policy; the expenses up to the deductible limit (per hospitalization) have to be borne by the member.
- The limit of indemnity /Sum Insured is the maximum liability above the deductible.
For example - If the Sum Insured is Rs 10 lakhs and deductible is Rs 3 lakhs , Insurance company liability for a claim of Rs 13 lakhs would be Rs 10 lakhs ( which is over and above the deductible ).
Insurance company from where you have taken this policy is liable to pay only if your hospitalization expense exceeds Rs 3 lacs.
If your hospitalization expense is Rs 4 lacs then the company from where you have taken topup insurance will pay you only 1 lac.
Deductible would apply afresh on every claim in a policy period .In case of our own renewals deductible would apply afresh every year(except in case of a relapse within 45 days for which a claim has been made, wherein such relapse shall be deemed to be part of the same claim.)
• This is a floater policy, single Sum Insured and single premium for the whole family.
• The member has access to cashless facility in empanelled hospitals across the country subject to terms and exclusions.
• In case the member opts for hospitals other than the empanelled ones the expenses incurred would be reimbursed.
• Income Tax Benefit under Sec 80 D of the IT Act on the premiums paid for this policy.
The Claim under cashless and reimbursement would be admissible in excess of the deductible limit, subject to terms,conditions, exclusions & definitions as per the policy wordings.
• The proof of settlement of the deductible amount has to be produced at the time of claim in case of any other existing insurance policy.
Which all companies are offering this Product
United India Insurance
Bajaj Allianz General Insurance Company.
Star Health Insurance
