I have a basic health insurance policy with a coverage limit of 5 lakh. To increase my coverage, I want to upgrade to a better plan. How can the insured amount be increased the most effectively?
- Name withheld on request
In light of the current rate of medical inflation, which is approximately 10% per year, a sum insured of 5 lakh is an extremely low amount for health insurance. As a result, your decision to increase the sum insured is timely and well-thought-out. One of the easiest ways to increase the amount is to increase the sum insured in the same policy.
You can also compare insurance products and port your current policy to a better plan with a higher insured amount from another insurance company. Your previous policy’s cumulative bonus and all continuity benefits, up to the sum insured, will be carried over to the new policy in accordance with applicable regulations.
Be that as it may, the best way is to top up your current base wellbeing strategy with another very top-up arrangement where you can decide to have a deductible of your unique total protected in your past strategy. You’ll save money and get a lot of coverage with this. Additionally, a Super top-up comes with numerous benefits that frequently exceed those of base plans.
A type of health insurance called a super top-up plan reimburses you for all of your medical costs that go beyond a deductible or threshold. Typically, it differs from standard health insurance. It only covers all hospital costs if the standard health policy’s sum insured is exhausted or you have paid for them up to a certain threshold amount out of your own pocket.
