Top 5 Super Top-up Health Insurance Plans in India 2020

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Which are the Top 5 Super Top-up Health Insurance Plans in India 2020? You have the basic health insurance either from your employer or on your own. However, this base plan may not be sufficient to cover the cost of hospitalization. In such a situation the best way is to buy super top-up health insurance products rather than enhancing the sum insured from the base plan.

I have already written a post on which are my top 5 Best Health Insurance plans in India in 2020. Refer the same at “Top 5 Best Health Insurance Plans in India 2020“.

What are Top-Up or Super Top-Up Health insurance plans?

Top Up Health Insurance Plan

Top Up Health Insurance plan is a regular health insurance plan. But with a certain threshold limit (deductible) to it. For example, if the Top Up Health Insurance Plan offering you sum insurance of Rs.10 Lakh with threshold (deductible) limit of Rs.5 lakh. Then any health insurance claim arising more than Rs.5 lakh will be payable by this top-up health insurance. Below Rs.5 lakh claim must be settled either by regular health insurance or we have to pay from our own pocket.

Let us say Mr.X has regular health insurance of sum insured Rs.5 Lakh and top-up health insurance of Rs.10 lakh with a threshold limit of Rs.5 lakh. Suddenly one day due to health issues he got admitted to the hospital. The claim bill amount was Rs.6 lakh. His regular health insurance will pay Rs.5 lakh (as the maximum sum insured is Rs.5 lakh only). Who will pay the remaining Rs.1 lakh? As the claim amount is more than the threshold limit set by top-up health insurance, the remaining Rs.1 lakh will be payable by this top-up health insurance.

Top Up Health Insurance

In the absence of any such top-up health insurance, Mr.X might be forced to pay the remaining Rs.1 lakh claim amount from his own pocket. I explained the different scenarios of how the regular health insurance and top-up health insurance will work in the above image.

Now you got an idea of where the Top Up Health Insurance will be handy, apart from regular health insurance plans. If there is more than one claim in a single year, then such a top-up plan will not be useful, as these top-up plans only applicable to one claim per year. If that particular single claim is above the threshold limit, then you get the claim amount from top-up plans. Otherwise, such top-up plans will not be useful.

Here in such a situation, super top up health insurance plan will come in handy.

Super Top Up Health Insurance Plan

Super Top Up Health Insurance Plan works exactly like Top Up Health Insurance but with only one difference. In the Top Up Health Insurance Plan, there is a limit for a claim in a year i.e. single claim in a year. However, in the case of the Super Top Up Health Insurance Plan, there is no such limit.

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For example, in the last scenario of the above table, if Mr.X has Super Top Up Health Insurance, then the remaining Rs.3 lakh might be settled by this super top-up health insurance but not from his own pocket.

Super Top Up Plans will consider the total claim amount in a year. Whatever the amount below threshold limit must be payable either by regular health insurance or from our own pocket. The remaining amount will be payable by super top-up health insurance plans. I tried to explain the same in the below image.

Super Top Up Health Insurance

See from the above table where I highlighted the last row with a different color. Here Super Top Up Health Insurance Plan will come into handy than regular plans or Top Up Health Insurance Plan.

Features of Top Up Health Insurance Plan & Super Top Health Insurance Plan

  • No restriction to have Regular Health Insurance-There is no such restriction that you must have regular health insurance to buy either of these two. If you have regular health insurance, then below the threshold amount will be settled by the regular plans and above threshold claim amount by either of these two.
  • Can buy from different insurers-You can buy regular health insurance from one company and top-up plans from a different company.
  • Cheaper than Regular Health Insurance Plans-Due to threshold limit or deductible clause, these plans are cheaper than regular health insurance plans.
  • Both Individual and Family Floater Plans Available-Exactly like typical regular health insurance products, such top-up plans will offer you to an individual or to a whole family.
  • Come with regular exclusions-Regular exclusions also applicable to top-up plans like existing diseases or dental care. Hence, check out for exclusions in detail.
  • Tax Benefit-Exactly like regular health insurance products, you can claim the tax deduction under Sec.80D of IT Act.
  • Works on reimbursement base-Before settling the claims under top-up plans, insurers first check whether the below threshold limit amount of total claim bills paid from a policyholder or not. They will not bother whether the below threshold amount is from the policyholder’s own pocket or from his regular health insurance. Then only any dues of above threshold limit settled by top-up plans. Hence, you may say that getting cashless benefits from the top-up plans is difficult.
  • No NCB (No Claim Bonus)-These plans usually not offer any NCB benefits.

Who can buy Super Top Health Insurance Plan?

If your health insurance is negligible and budget is your problem, then definitely you can this of buying Top Up Health Insurance Plan & Super Top Health Insurance Plan. Because they are cheap. But do remember that claim settlement may be cumbersome with Top Up Health Insurance Plan & Super Top Health Insurance Plan. Hence, it is better to increase your cover from the existing health insurance itself.

If you plan to increase your health insurance cover, then first try to compare the premium of top-up plans with regular plans. Go for top-up plans only in case you feel cheaper than going for regular plans.

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Usually, minor claims are more frequent than huge claims. Hence, you may end up forgetting the features of such top plans. Hence, make sure that you know the details regularly and it’s applicability.

Top 5 Super Top-up Health Insurance Plans in India 2020

The best strategy while choosing the Top 5 Super Top-up Health Insurance Plans in India 2020 is to have both the base plan and super top-up plans within the same company. This creates easy claim processing. The second important aspect you have to choose is both the base plan and super top-up plans commencement date should be as nearer as possible.

Considering all these aspects and my earlier Top 5 Best Health Insurance Plans in India for 2020, I am recommending below super top-up plans as my Top 5 Super Top-up Health Insurance Plans in India 2020. However, it doesn’t mean they must be your BEST.

# HDFC ERGO Optima Family Floater

Sum assured options that are available include 5/7/10 lakhs. Aggregate deductible options include 1/2/3/4/5/6/7/10 lakhs.

In a family floater policy, a maximum of 2 adults and a maximum of 2 children can be included in a single policy. While the family may include self, spouse, dependent children and dependent parents, the 2 adults in a family floater can be a combination of self, spouse, father or mother.

The premium for a family (2 Adults (45 Yrs and 35 Yrs to 44 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.10,00,000 and deductible is Rs.7,912 (Including tax)

You can visit their page here for more details – Optima Super Family Floater.

# HDFC Ergo Super Top-up Plan

The name of the HDFC Ergo’s Super Top-up Plan is “my: health Medisure Super Top-up”. Sum assured options that are available for an aggregate deductible of 4 lakhs is 6/11/16 lakhs. Sum assured options that are available for an aggregate deductible of 5 lakhs is 5/10/15/20 lakhs.

You can opt for a sum assured of 20 lakhs with 5 lakhs deductible by paying a premium of Rs. 5,200 per annum. (For a family of 3 members).

The premium for a family (2 Adults (45 Yrs and 38 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.20,00,000 and deductible Rs.5,00,000 is Rs.4,400 (excluding tax).

You can visit their page here for more details – my:health Medisure Super Top-up

# ICICI Lombard Super Top-up Plan

The name of  ICICI Lombard’s Super Top-up plan is “Health Booster”. Sum assured options available include 5/6/7/10/15/20/25/50 lakhs. Aggregate deductible options available include 3/4/5 lakhs. There are 3 options that are currently available – A, B and C

The premium for a family (2 Adults (45 Yrs and 38 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.20,00,000 and deductible Rs.5,00,000 is Rs.4,587.

You can visit their page here for more details – Health Booster

# Max Bupa Super Top-up Plan – Health Booster

The name of Max Bupa’s policy is Max Bupa Health Recharge. Sum assured options that are available include 5/7.5/10/15/25 Lakhs. Aggregate deductible available is 1-10 lakhs in the multiples of 1 lakh.

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The premium for a family (2 Adults (45 Yrs and 38 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.25,00,000 and deductible Rs.5,00,000 is Rs.3,292 yearly.

You can visit their page here for more details – Max Bupa Health Recharge.

# Liberty Insurance Super Top-up Plan

The name of Liberty Insurance’s Super Top-up Plan is Health Connect Supra. Sum assured options available include 3-100 lakhs. Aggregate deductible options available includes 2-40 lakhs in the multiples of 1 lakh.

The premium for a family (2 Adults (45 Yrs and 38 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.20,00,000 and deductible Rs.5,00,000 is Rs.5,372 yearly (Option 1).

You can visit their page here for more details – Health Connect Supra

# Star Health Super Top Up Plan

The name of Star Super’s Top-up plan is “Star Super Surplus (Floater) Insurance Policy”.Sum Assured available under the Gold Plan includes 5/10/15/20/25 Lakhs. Aggregate deductible options available include 3/5/10 Lakhs.

The premium for a family (2 Adults (45 Yrs and 38 Yrs) +1 Child (below 16 Yrs) for Sum Insured of Rs.20,00,000 and deductible Rs.5,00,000 is Rs.5,7,30 yearly (Gold Plan).

You can visit their page here for more details – Star Super Suplus

# New India Assurance Super Top-up Policy

he name of the New India Super Top-up Plan is “New India Top Up Mediclaim”.

You can visit their page here for more details – New India Top Up Mediclaim

# Oriental Insurance Super Top Up Plan

The name of  Oriental Insurance’s Super Top Up plan is “Oriental Super Health Top UP” Sum assured options that is available is in the range of 3-30 lakhs. Aggregate deductible options available is in the range of  3-20 lakhs.

You can check the premium amount by clicking on the link here – Oriental Insurance Super Top Up

After going by all the features, I am suggesting my Top 5 Super Top-up Health Insurance Plans in India 2020 as below.

Conclusion:-Considering the Covid-19 issues and the way hospitalization cost increasing in India, it is always better to have proper health insurance coverage (even though your employer providing). Hence, instead of buying Rs.20 lakh to Rs.25 lakh base cover, the wise decision is to have a combination of the base plan and super top-up plans. Do remember that the plans above shared are my choices and it does not mean they are the best. If you have differences of opinion, then you are free to choose the plan as per your choice.

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Basu Nivesh
Basav is a SEBI Registered Investment Adviser (SEBI RIA) practicing the Fee-Only Financial Planning Service. He is a CFP (Certified Financial Planner) and blogger at Basu Nivesh. He services around 300+ satisfied clients.
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