Online top-up health insurance in India can be considered as an add-on policy with any type of mediclaim policy, with the same or a different insurance service provider. Top-up policies are available with a threshold limit or ‘deductible’.
Generally, this limit is finalized by the insured person at the time of buying. In case of a claim, the amount equal to the deductible is borne by the policyholder or by the current policy; the balance amount is paid by the insurance company in India.
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Premium
Premium is a function of the sum assured, deductible and the age. Lower the deductible, higher the premium.
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Deductible
Insurers disclose a wide range of options for the minimum and maximum sum assured and deductible amount. But, make sure that the policyholder can comfortably pay the deductible amount in case of an emergency.
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Proposal Form
The proposal application must be filled by the policyholder, including the health insurance in India selected, personal details, information about existing mediclaim policy and health details.
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Exclusions
Ask your insurance service provider whether costs towards pre-existing diseases, day-care procedures and pre- and post-hospitalization expenses are included in a policy or not.
Super Top-ups
Some top-up health insurance policies come into play when the single claim amount crosses the limit of deductible amount. This insurance provides the advantage of aggregate health insurance claim over a specific time span.
Age and Tests
Generally, the eligibility age is around 18 years, but some floater mediclaim policies may be available to infants. Need of health checkup also differentiates across insurance companies in India.
Here, customers should know that top –up family health insurance policies also offer the benefit of free-look period. Policyholders can get an income tax benefit on the mediclaim premium paid under Section 80D. The deductible limit may be applied to each insured person and not in aggregate in case of a floater top-up plan.
