Want To Make The Most Health Top-Up Plan? Here Are 5 Tips That Will Help

It is always important to be prepared to avail of proper healthcare facilities. Treatments and procedures can be costly but they are necessary. To help avoid hurdles and hassle while accessing healthcare facilities, a health insurance plan is crucial.

The costs of healthcare treatments and procedures rise every day as more advancement is made. This is why a top-up plan is important as it lets you increase the coverage of your health insurance plan. Find out 5 ways in which you can make the most of your health top-up plan in this article.

What Is A Health Top-Up Plan?

In a health top-up plan, you can increase the coverage of your base insurance policy. It helps you avail of additional benefits by increasing the sum assured under a health insurance plan. Of course, this also calls for an increase in the premium amount that you will have to pay. However, it is much more cost-effective to increase the cover in a health top-up plan than buying a new insurance plan altogether.

Top 5 Tips To Make The Most Of Health Top-Up Plans

A health top-up plan is very beneficial and can be of much use in case of emergencies or critical treatments. Here are 5 tips with which you can make the most of your health top-up plan:

1. Calculate Your Costs

   When buying a health insurance policy, it is important to have an idea about the coverage you might need. This is not only for the present but also for the future. Factors such as pre-existing conditions, number of insured individuals and more matter when calculating the costs. An estimation from beforehand can help you get adequate coverage and top-up the plan as necessary.

2. Calculate the Deductible

   The deductible amount is the sum that you are willing to pay from your own pocket, besides what is being covered by the health insurance plan. During top-up, you must carefully calculate the deductible you want as it will also affect your premium rate. The more the deductible amount, the lower will be the premium. You must take your needs and circumstances into condition to make use of the top-up facility strategically.

3. Continue with the Same Plan

   As you grow older, your premium rate will also increase. This is because the risks involving you also increase. Therefore, it is best to continue with the same plan and insurance provider. A new insurance plan will require you to be evaluated as a fresh policyholder which might charge you a higher premium than a top-up on your old insurance plan.

4. Go for Regular Health Check-Ups

   When you have an opportunity for increasing your cover, it is important to assess what you need it for. Regular health check-ups can help you find if there is anything that requires more insurance cover. It is better to stay prepared beforehand when you have the opportunity than to face any problems at the hour of need.

5. Tax Benefits

   Under section 80D of the Income Tax Act of India, the premiums paid towards your health insurance plan can avail of tax exemptions. Even if your premium does increase due to an increase in cover, the tax benefits provide some help. Make sure to collect these deductions so that you can use your top-up benefit.

Also Read: Difference Between Top up and Recharge in Health Insurance

Difference Between Top Up and Super Top Up Health Insurance Plans

Conclusion

A health top-up plan is one of the best options to tackle the rising threat of illnesses and increasing medical costs. It is cost-effective, beneficial and offers comprehensive protection. Make sure to utilize it to the best of its abilities with the above tips.

You May Also Check: Covid-19 Health Insurance

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.