Buy a super supplemental insurance policy? Know the main features
New Delhi: The past year has taught people how medical emergencies can happen without warning. However, the recent second wave caused people to lose their savings on Covid-19 hospital bills because families started to get infected together – family floats were insufficient and basic mediclaim policies of Rs 2 or more. 3 lakhs, have not stood the test of time in the face of exorbitant COVID hospital costs.
The second wave sparked the question of the adequacy of health insurance coverage and its amount. One thing we have learned from the pandemic is the need to prepare for the unprecedented. As the country experiences an increase in the vaccination campaign, we are also seeing a sense of awareness among people, to protect themselves against the coming demand.
While a regular health insurance plan is always beneficial, super supplemental health plans provide an additional layer of security for the insured.
Super Top Up Plan Needs The Hour
Rakesh Jain, CEO of Reliance General Insurance, explains, “While COVID-19 brought to light the inadequacy of coverage, people in India even before Covid suffered from the problem of underinsurance. With medical advances and treatment methods that are technologically modernized day by day. Today, the cost of routine procedures and surgeries has increased dramatically over the past decade. Knee and hip replacements, heart bypass surgery and kidney transplants have seen a 75-80% increase in costs. “
In addition, the cost of long-term procedures like chemotherapy or dialysis that follow surgeries requires a regular outflow of expenses, this must be taken into account before increasing coverage, he added.
Super Top Up acts as a booster for your existing health insurance policy
Most basic health or indemnity policies lack high face amount options, or if they do, they are expensive and discourage customers. Therefore, choosing super supplemental coverage is a viable and inexpensive solution. People are also supplementing coverage with event-based coverages like critical illness coverage or COVID-19 coverage, which will only cover for one instance of hospitalization but will not offer full coverage for future need.
Jain said: “As we have seen scenarios of post-covid effects on multiple organs like kidneys and lungs, but the COVID-19 policy will not apply to such cases subsequently occurring after the event. . Thus, it is extremely critical to have a Super Top-Up if you are considering increasing your coverage. The Super Top-Up, as the word suggests, is in addition to your existing base policy. But it is not a mandate to have a basic policy to buy a super supplement There is a notion of deductible, which must be crossed in the event of a claim. As if you had an insured sum of 10 lakhs with a deductible of 3 lakhs. hospitalization event, once your hospital bill / charge is crossed 3 lakhs, the higher policy will start to cover for a sum of 10 lakhs. “
How to choose the right insurance great charging plan?
As mentioned earlier, recharge plans are based on events where the deductible applies every time. So, if the need for the police must be maintained as a precaution for occasional cases of hospitalization, then we can opt for a complementary policy. But if you want to stay prepared for multiple needs during the insurance period. Then super charging is the solution.
We have seen people with heart disease, diabetes, cancer, kidney stones, etc. common these days and there may be recurring needs for hospitalization or procedures. In this case, super recharge policies are a wise decision to make.