Top Up Health Insurance

What is the Top-Up Health Insurance Plan?

A Top-Up Health Insurance Plan provides additional coverage once expenses exceed a specified deductible, unlike standard policies that cover costs from the first rupee. It is ideal for those with existing health insurance seeking higher coverage without significantly higher premiums. For example, Bajaj Allianz's Extra Care Plus offers extensive coverage for hospitalization, pre-existing diseases, and maternity expenses without requiring a pre-policy medical check-up for individuals up to 55 years old.

How Does Top-Up Health Insurance Work?

Top-Up Health Insurance Policy provides additional coverage once medical expenses exceed a specified deductible. This deductible must be paid out of pocket or via an existing health plan. Top-up policies are cost-effective, offering higher coverage at lower premiums than standard policies. After the deductible is met, Bajaj Allianz’s Extra Care Plus covers extensive healthcare costs, including pre and post-hospitalization, daycare procedures, and emergency ambulance services.

Key Features of Top-Up Health Insurance Policy

The best health insurance top-up plan in India comes with several key features designed to provide comprehensive coverage beyond the limits of basic health insurance plans:

- Coverage of Hospitalisation Expenses: Covers hospitalization expenses incurred above a specified deductible, helping to manage substantial medical costs without financial strain.

- Pre-Existing Diseases: Includes coverage for pre-existing diseases after a waiting period, ensuring chronic conditions are covered.

- Maternity Cover: Offers maternity cover, including complications, ensuring comprehensive protection for pregnancy-related expenses.

- Pre and Post-Hospitalisation Expenses: Covers pre and post-hospitalisation expenses, providing extensive protection for the entire treatment process.

- Emergency Ambulance Services: Includes coverage for emergency ambulance services, ensuring transportation costs are covered during emergencies.

- Floater Coverage: Often provides floater coverage for the entire family, making it suitable for households seeking extensive protection.

- Entry Age: Typically accommodates entry age up to 80 years, making it inclusive for senior citizens.

Additional Benefits with Your Extra Care Plus Policy

We provide extensive medical coverage along with other benefits:

Tax saving:

Tax saving up to Rs 1 lakh under Section 80D of the Income Tax Act.*

*On opting for the Extra Care Plus policy for yourself, your spouse, children, and parents, you can avail of Rs 25,000 per annum as a deduction against your taxes (provided you are not over 60 years old). If you pay a premium for your parents who are senior citizens (age 60 or above), the maximum health insurance benefit for tax purposes is capped at Rs 50,000. As a taxpayer, you may, therefore, maximize tax benefits under Section 80D up to a total of Rs 75,000, if you are below 60 years of age and your parents are senior citizens.  If you are above the age of 60 years and are paying a medical insurance premium for your parents, the maximum tax benefit under Section 80D is, then, Rs 1 lakh.

Hassle-free claim settlement:

We have an in-house claim settlement team that ensures a quick, smooth, and easy claim settlement process. Also, we offer cashless claim settlement at more than 8,600+ network hospitals across India. This comes in handy in case of hospitalization or treatment wherein we take care of paying the bills directly to the network hospital and you can focus on recovering and getting back on your feet.

Renewability:

You can renew your Extra Care Plus policy for your entire lifetime.

Portability benefit:

If you are insured under any top-up health insurance plan, you can switch to our Extra Care Plus policy with your accrued benefits (after due allowances for waiting periods) and enjoy the available benefits of the policy.

Preventive health check-up:

Free preventive health check-up at the end of a continuous period of 3 years during which your Extra Care Plus policy is active.

How is Top-Up Insurance Different from a Basic Health Insurance Plan?

Top-Up Insurance differs from a basic health insurance plan in several key ways, primarily regarding coverage and cost structure. While a basic health insurance plan covers medical expenses from the first rupee incurred, a top-up plan provides additional coverage only after a predefined deductible limit is exceeded. This means Top-Up Insurance is activated only when the medical expenses surpass the deductible threshold, which is not true with basic health insurance.

Consequently, top-up plans generally have lower premiums than standard health insurance plans for the same insured. Top-up policies supplement existing health insurance, offering higher coverage limits and protecting against significant medical costs.

Another difference lies in the range of benefits; top-up plans like Bajaj Allianz’s Extra Care Plus often include coverage for pre-existing diseases after a waiting period, maternity cover, and emergency ambulance services, enhancing overall protection.

How to Select a Top-Up Health Insurance Plan?

Selecting a top-up health insurance plan involves several critical considerations to ensure it meets your healthcare needs and financial capabilities:

- Start by assessing the deductible amount; choose a deductible that aligns with your existing health insurance coverage or the amount you can comfortably pay out of pocket.

- Next, evaluate the sum insured the top-up plan provides to ensure sufficient coverage for potential medical expenses.

- To ensure comprehensive protection, consider the policy’s inclusions, such as coverage for pre-existing diseases, maternity expenses, and emergency services. It’s also important to review the waiting periods for certain benefits and the age limit for entry without medical check-ups.

- Compare the premium costs across different insurers to find a plan that offers the best value for money. Check for additional benefits like free preventive health check-ups and tax savings under Section 80D of the Income Tax Act.

*Tax benefits are subject to changes in tax laws

Lastly, consider the insurer’s reputation for claim settlement and customer service.

Why Choose Bajaj Allianz Extra Care Plus Policy?

We all love a little extra something; whether it is an extra set of helping hands or extra time to complete an exam, it always comes in handy.

Our Extra Care Plus plan, a top-up health cover, provides an add-on cover to your existing health insurance policy.  It acts like a ‘stepney’ to your health insurance policy after you use up your sum insured limit. Our Extra Care Plus is the top-up health protection your existing health cover needs.

Let’s consider why you might need this additional buffer. Imagine that an unfortunate incident lands you in the hospital. Your basic health policy is only going to cover a limited sum insured, leaving you to fend for funds at the worst possible time.

However, with Extra Care Plus, once your basic medical insurance cover is exhausted, this shield will kick in. It will help you clear the additional bills that your hospitalization may raise and pay the expenses incurred above the aggregate deductible opted by you. That’s why this top-up plan is a wise investment.

Also, consider the fact that with rising inflation basic health insurance coverage may not be adequate. Furthermore, a high sum insured may not be affordable. Hence, this policy is the perfect fit for a more expansive health insurance coverage to take care of the rising healthcare expenses. The best part? You don’t even need a basic health insurance plan to buy this policy!