The Buyt Desk
If you are a health insurance policyholder or have taken one for your family, then it means you are aware of the benefits health insurance provides in case of an unforeseen situation or medical emergency.
Health insurance is a layer of protection that safeguards families during medical emergencies. However, to ensure that the health insurance you have purchased covers all the medical costs that might come in future, it is imperative that the sum insured should be adequate.
As we have seen, the treatment cost in private hospitals has gone exorbitant in the last few years. So, if your insurance cover is not enough, you might run out of the sum insured, and there will be an extra burden on your pocket.
Thus, if your health insurance policy is old, and you think that the sum insured will not be sufficient to provide adequate protection, think about increasing your sum insured. So that your health insurance policy can cover the entire treatment cost, whenever it might be.
There are three ways present through which you can increase your health insurance cover.
Get A Super-Top Plan – Increasing the cover of health insurance plans by buying a super-top plan. This plan provides coverage over a selected deductible limit. When your insurance cover has been exhausted, you can use the super top plan to pay the remaining amount. Additionally, the super-top plan provides many other advantages.
The benefits of this plan include in-patient treatment, day-care treatment, cumulative bonus, pre and post hospitalization expenses and much more.
Increase The Sum Insured by Renewing The Policy- At the time of policy renewal, the insurance company gives you the choice of either increasing the policy cover or the sum insured. The benefit of this option is that there remains no change in the waiting period, which happens when you buy a new policy altogether.
By increasing the sum insured at the policy renewal time, you ascertain adequate coverage to fulfil your future medical financial needs.
Get A Comprehensive Health Policy For Your Family – The family insurance policy is a policy you purchase for the entire family. In this policy, each member of the family gets covered. Therefore, the sum insured in this insurance policy remains higher than the single health insurance policy. And on top of that, you will have to pay a single premium for this.
It is more important to have a health insurance policy that provides adequate coverage than having an insurance policy, especially when treatment costs in private hospitals are surging every year.
If you think the sum insured of the health insurance policy you are holding is not enough, talk to your advisor and tell him about all the options to get a redesigned sum insured according to the changing requirements.
