1. Super top-up health plan offers additional cover for reasonable premium

Super top-up health plan offers additional cover for reasonable premium

Under base health insurance policies, the claims are paid upto the sum insured limit opted whereas under super top-up plans, the claims are paid only if the claim amount exceeds beyond the deductible option opted for.

By: | Published: September 27, 2017 2:52 AM
health insurance, health insurance policies, Standard Home Insurance policy, Content Insurance, personal accident cover Under base health insurance policies, the claims are paid upto the sum insured limit opted whereas under super top-up plans, the claims are paid only if the claim amount exceeds beyond the deductible option opted for.

What is a super top-up health insurance and is it beneficial to take one?

– Atul Mahajan

Under base health insurance policies, the claims are paid upto the sum insured limit opted whereas under super top-up plans, the claims are paid only if the claim amount exceeds beyond the deductible option opted for. Super top-up plans available in the market consider aggregate of the claims per policy year and not a single hospitalisation. It is beneficial to take super top-up health insurance given growing medical inflation and increasing healthcare cost. Also, selecting higher sum insured under base health policy may not be an affordable option for all, as premium for high sum insured will be on higher side for higher age. Hence, a good option is to buy a super top-up health insurance plan that can offer additional coverage which is beyond the threshold or maximum limit of existing health insurance policy. These policies are available with various deductible options ranging from
Rs 1 lakh to Rs 10 lakh with sum insured limits of Rs 2 lakh to Rs 20 lakh or even more and also the premium charged is reasonable.

Are content home insurance and structure home insurance two different covers? Which one should I opt for?
—Praveen Madhavan

Yes, a Standard Home Insurance policy provides cover for structural damages caused due to certain perils of nature and mankind. On additional payment of premium, structural damages caused due to an earthquake are also covered. Whereas, Content Insurance is an additional cover which protects and reimburses the damages caused to the contents inside the house, such as furniture, white goods, electronic items, glass, crockery, etc. It is always advisable to buy a Comprehensive Home Insurance policy, which includes Structural and Content Insurance cover. Comprehensive Home Insurance policy provides comprehensive coverage for jewellery and other valuables kept in bank lockers along with other coverages such as personal accident cover for accidental death or bodily injury and public liability cover for liability arising due to bodily injury or damage to others’ property. It also provide coverage for liabilities towards domestic servants engaged under employee compensation on payment of additional premium.

The writer is MD & CEO, Universal Sompo General Insurance. Send your queries to fepersonalfinance@expressindia.com

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