Mistakes to Avoid While Choosing Health Policy Top-up Plans in India

Remember that feeling when you suddenly find a 2000 rupee note in the back pocket of your jeans? The feeling is enthralling, right?

What if we told you that your health insurance policy, when it nears exhaustion, to the point you have already claimed the maximum possible amount could also be redeemed? Yes, that’s possible. A super top-up health plan is what you need.

A top-up plan is an emergency cover that fulfils claims for cumulative medical expenses within a policy year once the claims in a regular health cover plan go above the deductible! Sounds, amazing right? But. There’s more. A lot of policyholders make the dire mistake of adding health insurance top-up plans to cart just based on the words “extendable”, “lower premiums”, and “multiple insurers”. But is that all? Here are a few mistakes that you, as a policy purchaser, must avoid while getting a top-up health plan. Pay close attention!

Opting for Inadequate Coverage

Assessing your family’s needs and requirements is crucial. Sure, you might have done this while purchasing a health plan in the first place. You have the flexibility to reassess your requirements before getting a top-up health plan. Don’t be fooled by low premiums. Look beyond. Chances are, the exclusion list entails your immediate requirements, making your top-up a misfit. Make sure you give your top-up health plan decision as due weightage as your regular health cover.

Hiding Important information

Guess who is at stake when one hides important factors like medical history and genetic background? You. Not only would you be subject to rejection but also higher premiums. Non-disclosure of facts will give rise to various complications during your insurance filing and claim processes based on when the actual data is revealed. This must be avoided at all costs, given that your aim of purchasing a top-up health policy is to seek extended coverage.

Only Weighing the Tax Benefits

Saving taxes is an added perk while purchasing a top-up plan and not the end objective. Purchasing top-up plans are common ways of additional tax saving; however, don’t be blinded by the 80D exemption. Make sure you thoroughly check upon the extent of medical coverage apart from the premium value. This is your emergency exit during times of unanticipated medical situations.

Not Reading Between the Lines

Instead of getting unanticipated, consequential surprises while filing the claim, it is better to be well versed with the terms of the top-up health policy. Decoding jargons, reading between the lines and seeking expert guidance before signing on the dotted lines is highly recommended. This will give you an insight into not only the inclusions but also the exclusion list holistically.

We at Cover 360 have the best-of-the-best top-up health plans awaiting your attention! Check them out today!

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