Top Up Policy
About This Course
Top-up plans work on a cost-sharing basis where medical expenses up to the deductible limit have to be borne by the policyholder. The insurance company takes charge of medical cost only if the expenses cross the deductible limit. The top-up plan will pay for expenses incurred above that limit. Top-up plans can offer sum insured ranging between R50,000 and R15 lakh, with their deductible falling between R30,000 and R5 lakh respectively (a value derived after considering all policies available in India). This sum insured will offer protection in addition to the deductible amount which is being borne by another policy or any other source. A top-up policy — with R10 lakh cover and R5 lakh as deductible limit — can be bought at an annual premium of as low as R2,900. On the other hand, a regular health insurance cover for the same amount (R10 lakh) will cost anywhere between R7,450 and 11,650. Top-up plans save more than 50 per cent on premium.