The only cost-effective way to protect against the current medical inflation and meet medical requirements is to have a Super top-up Health insurance policy and its benefits.
Serious medical emergencies can ruin our finances at any time, this can be only avoided with adequate insurance cover for our family.
However, it is very difficult to consider what coverage is adequate in the longterm. What we seem to think is adequate today may not be enough in the future with the kind of raise in medical inflation.
Features of super top-up health policy:
A super top-up insurance product is similar to a regular health product in many aspects like covering the insured against hospitalization.
Super top-up coverage starts after your cumulative eligible medical expenses exceed the deductible limit mentioned in the policy. It means you have to pay for medical/hospitalization expenses up to a specific limit (i.e. the predefined deductible limit) from your pocket or through your regular health policy to activate the super top-up policy which will then cover the excess amount up to the policy coverage limit.
Super top-up policies come at a very low premium primarily owing to the deductible clause. Also, premiums paid for a super top-up policy are eligible for tax deduction benefits under Section 80D of the I-T Act.
When getting a super top-up policy, make sure that you opt for the right deductible limit. Ideally, that should be the limit of your regular health insurance cover.
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