The Indian insurance marketplace has grown exponentially in the recent years. Recent
statistics show penetration in at least 82% of the urban population and 20% in rural sectors.
It is a stark contrast to the numbers received in the last decade when almost 68% of the
population would use their savings to pay for healthcare and hospital bills.
Such immense growth is a by-product of rising healthcare cost. An increasing number of
citizens sign-up for at least some form of an insurance scheme to mitigate the financial
burden incurred during times of ailments. Insurers also provide add-on schemes like top up health insurance to provide stable financial support in case of larger expenses or diseases
that require intensive care.
Several financial institutions offer individual health insurance plans and succeeding top-up
schemes to an eligible insured individual. However, there are a few things you should look
out for before availing top-up plan. Here are some of the factors.
1. Benefits offered – Carefully consider whether the benefits offered by a top up plan is
adequate to meet all the expenses of your treatment. These plans provide additional
coverage against a higher premium; however, the limit of coverage should meet all
your financial requirements.
Some insurers also offer the facility to reset benefits, where the insurance cover will
be initiated again if you have exhausted it in a year. It is an important feature you
should consider before opting for a top-up in your health insurance.
2. Deductible limit – Deductible limit is the amount a policyholder would pay along
with their claim submission. Most top up health insurance plans come with a
deductible limit that comes into effect when medical expenses cross a certain
threshold. You should carefully consider a deductible limit while buying a top-up
policy to avoid financial strain during an emergency.
3. Medical coverage – Most top-up plans come with a pre-determined list of medical
coverage that you should review before purchase. The medical condition of the
individuals and your place of residence may also contribute to limit the type of
illness covered under the policy. Carefully go through the terms and conditions of
the insurer to learn about these clauses.
You should also inquire whether a particular plan is compatible with the health
insurance policies or not. Ideally, you should go for a mediclaim policy cover that can
also be used to insure your family. Opt for a Health Insurance Top up Plan from Bajaj
Finserv which offers floater coverage along with several customised features to cater
to your financial requirements.
4. Eligibility – Check whether you fulfill the eligibility criteria before availing a top up
health insurance. Most insurers require easy-to-meet eligibility criteria to avail such
policies. These include –
 Age – You should be between 18 to 70 years of age. Dependent children
should be between 3 months to 18 years of age.
 Policy coverage – Your children should be covered under the same insurance
scheme. Opt for a Family Floater Health Insurance scheme from Bajaj Finserv
for comprehensive coverage for your children as well.
It is necessary you have a complete understanding of all the above-mentioned aspects
before you avail an insurance top-up. It will ensure you meet all your financial obligations
without experiencing any financial pressure.
