1. What is a top-up health insurance cover?
A top-up health insurance cover is an additional health insurance policy that provides coverage for medical expenses beyond the sum insured of an existing primary health insurance policy, once the deductible (threshold limit) is exceeded.
2. How does a top-up health insurance cover work?
A top-up health insurance cover kicks in when the medical expenses exceed the deductible amount specified in the policy. Once the deductible is crossed, the top-up policy covers the remaining expenses up to the sum insured limit, providing additional financial protection.
3. What is the purpose of a top-up health insurance cover?
The primary purpose of a top-up health insurance cover is to enhance the existing health insurance coverage and provide additional financial protection against high medical expenses without significantly increasing the premium costs.
4. What are the advantages of having a top-up health insurance cover?
Some advantages of having a top-up health insurance cover include:
Increased coverage for medical expenses beyond the sum insured of the primary health insurance policy.
Lower premium costs compared to purchasing additional coverage with a higher sum insured.
Flexibility to choose the deductible amount based on individual preferences and budget.
Protection against financial strain due to unexpected and high medical bills.
5. How does the deductible work in a top-up health insurance cover?
The deductible in a top-up health insurance cover is the threshold limit that needs to be crossed before the policy benefits are payable. It can be set at a fixed amount or accumulated over multiple claims within a policy year.
6. Can anyone purchase a top-up health insurance cover?
Yes, anyone with an existing primary health insurance policy can purchase a top-up health insurance cover to enhance their coverage and protect themselves against high medical expenses.
7. Does a top-up health insurance cover replace the primary health insurance policy?
No, a top-up health insurance cover does not replace the primary health insurance policy. Instead, it supplements the existing coverage by providing additional financial protection once the deductible is exceeded.
8. Can the deductible amount be adjusted in a top-up health insurance cover?
Yes, the deductible amount in a top-up health insurance cover can usually be adjusted based on individual preferences and requirements. A higher deductible results in lower premium costs, while a lower deductible increases premium costs.
9. Are there any limitations or exclusions in a top-up health insurance cover?
Like any insurance policy, top-up health insurance covers may have limitations and exclusions. It’s essential to review the policy terms and conditions carefully to understand the coverage limits, exclusions, waiting periods, and other details.
10. Is it advisable to have both a primary health insurance policy and a top-up health insurance cover?
Yes, it is advisable to have both a primary health insurance policy and a top-up health insurance cover to ensure comprehensive coverage and adequate financial protection against medical expenses. The combination of both policies provides a higher sum insured and broader coverage.
