Ashish Mehrotra

Should one increase the sum insured every year?
– Manoj Kumar
Healthcare costs are rising as treatment protocol has become more sophisticated and the cost of medicines has gone up. To counter this, customers must buy adequate sum insured. Instead of increasing sum insured annually, it is advisable to opt for a health plan with comprehensive coverage of Rs 10-15 lakh. This will help in having adequate coverage and also the waiting periods would have been served.

Is there any limit for sum insured in a family floater plan?
– Manohar Singh
Due to rise in cost of treatment, health insurers are introducing plans with higher sum insured, such as Rs 1 crore cover. In family floater, the sum insured can be consumed by any of the insured members, however the total claim amount can only be up to the sum insured under the policy.

What are super top-ups in health insurance?
– Jitendra Sharma
Top-up health insurance plans offer people additional coverage, which is beyond the maximum limit of the existing health insurance policy. A super top-up is an improved version of top-up policies wherein all claims are cumulated within a policy year. The advantage of super top-up plans is the deductible limit which gets applied cumulatively considering all claims put together in that policy year.

They work like deductibles wherein the fixed amount of total aggregate claims will be borne by the customer and the insurer’s liability will start after the deductible amount has been exhausted. Top-up is beneficial for customers who have some health cover but want higher coverage. Customers get the benefit in terms of discount in premium for opting for deductible.