I took a personal health insurance of Rs 5 lakh in 2014 and considering increasing the insurance cover. Should I go for a Super Top-up plan or a Critical Illness plan?
Deepika Gupta, Indore
In this era of rising healthcare expenses, it is difficult to decide on the quantum of health insurance which will prove to be adequate when the need arises. Basically there is no 'one size fits all' when it comes to any form of health insurance, as different people have different needs and for some, buying both top-up and critical illness policy may make sense.
Super top-up plans provide health insurance cover, over and above what your existing health plan offers. These plans enhance your health coverage for a lesser premium than what a regular health plan would charge.
Critical illness plans are available from both health and life insurers. In case of critical illness from life insurers you are paid a lump sum on diagnosis of serious ailments listed in the policy document. Importantly, the sum assured is paid out irrespective of whether you are hospitalised or not. Unlike a regular health insurance plan, a critical illness plan terminates once the payout is made.
In case of a critical illness plan from health insurers, the plan compensates to the extent of actual expenses incurred subject to the sum insured under the policy. A regular health plan covers your hospitalisation expenses, pre- and post-hospitalisation expenses and some pre specified day care procedures and the policy continues post your claim as well. Do read the exclusion list before going in for such policies, as they are very stringent when it comes to what is covered and anything not on that list is not covered.
