Heres how to extend your mediclaim policy sum insured with top-up health insurance

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17 Aug 2023

Boosting Health Insurance Coverage with Top-Up Policies

Healthcare costs have been on the rise and having a comprehensive health insurance policy is crucial in the face of medical emergencies. While a basic health insurance policy, also known as a mediclaim policy, provides coverage for a certain sum insured, it might not always be enough to cover the rising medical expenses. This is where a top-up health insurance policy comes into play.

Understanding top-up health insurance

A top-up health insurance policy works on the principle of aggregate hospitalization expenses exceeding a certain threshold. It is an additional layer of coverage that you can add to your existing mediclaim policy. In simple terms, it provides coverage once the total medical expenses surpass a predefined limit, called the deductible. This deductible is the amount you agree to pay from your pocket and any expenses above that threshold are covered by the top-up policy.

Benefits of top-up online health insurance

  • Top-up online health insurance allows you to enhance your coverage without purchasing an entirely new policy.

  • With medical costs spiralling, having higher coverage becomes essential. A top-up policy enables you to extend your sum insured.

  • You can customize the deductible amount based on your needs and financial capacity.

  • Top-up health insurance can be seamlessly integrated with your existing mediclaim policy.

  • When you renew your top-up policy, you might not need to undergo a medical checkup.

How to extend your mediclaim policy sum insured with top-up health insurance

  • Evaluate your existing coverage before opting for a health insurance top-up plan. Determine whether there are any gaps in coverage that a top-up policy could fill.

  • Calculate a deductible amount that you are comfortable paying out of pocket in case of a medical emergency.

  • Pay attention to factors such as the coverage provided, network hospitals, claim settlement process and premium costs.

  • Understand the waiting periods and choose a policy with reasonable terms.

  • Understand how the two policies will work together in case of a claim.

  • Thoroughly read and understand the terms and conditions of the top-up policy before making a purchase.

  • Be aware of any exclusions, waiting periods and claim procedures.

  • Regularly review your coverage as your medical needs and financial situation change over time.

In conclusion

A top-up health insurance policy is a valuable tool to extend the coverage of your existing mediclaim policy. It is important to carefully evaluate your needs, choose the right policy and understand the terms and conditions, so that you can make an informed decision. Remember, investing in comprehensive health insurance with kotak general insurance is an investment in your future peace of mind.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.