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Bajaj Allianz Extra Care Plus: A Guide on Health Insurance Top-Ups

By Finserv MARKETS - Sep 12,2019
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Everything You Need To Know About Top-Up Plans.

Rajesh is a regular 35-year-old banking professional. Studied well, has a stable job and takes good care of his family. Working in a bank, Rajesh is financially aware and has insured every member of his family. He saves for his retirement, has a life insurance policy and has bought a family health insurance plan for the entire family. But he is a worried man these days. He has already used the sum insured from his existing policy for his wife’s brief hospitalization. The entire family has been left with a minimal health cover for the rest of the year. To avoid a similar situation in the future, Rajesh can either get a new health plan or can simply buy a top-up policy.

What is top-up health insurance?

A top-up health insurance plan is like a normal health cover but gets activated only after a threshold limit is crossed, known as a deductible. It essentially means that the policyholder will have to spend a pre-decided amount before the insurer takes responsibility for the rest of the claim. The threshold amount is known as deductible and it is generally covered by an existing policy. Top-up health insurance comes to the rescue in cases of expensive hospitalization which exhausts the limit of the existing health policy.

With the rising cost of medical care, it is important to have a top-up plan over your regular medical policy. It acts as a buffer against costly medical care and helps you live a stress-free life. While there are a plethora of options available in the market, Bajaj Allianz Extra Care Plus provides all-round protection to you and your family.

A comprehensive primer on Bajaj Allianz Extra Care Plus

Coverage of Extra Care Plus

  • In-patient Hospitalisation expenses which include costs such as room rent, nursing expenses and fees of the medical practitioner.
  • Pre and post hospitalization expenses provided that the expenses were incurred for the same condition which required hospitalization.
  • Daycare and maternity expenses
  • The policy covers ambulance expenses to a maximum limit of Rs 3000.
  • Expenses incurred on organ donation treatment is also covered by the policy.
  • Besides coverage for regular hospitalisation expenses, this health top-up also provides optional cover for air ambulance services.

Features of Extra Care Plus

The Bajaj Allianz Extra Care Plus top-up health insurance plan offers a slew of special features such as cover for complications during maternity treatment and free health check-ups. Besides providing individual cover, this plan also has an option for family floater policy and covers the entire family under a single policy. One of the defining features is that parents can be included in the cover, which may not be offered by other similar top-up policies. The policy allows entry from an age of 91 days up to 80 years. As an additional benefit, pre-policy medical tests are not required until the age of 55. It becomes costlier to purchase medical policy with age, but to nullify the effect of age, Bajaj Allianz Extra Care Plus offers lifetime renewal option. With lifetime renewal, you can renew the policy even in old age. The premiums paid for this plan qualify for tax deductions under Section 80D of the Income Tax Act, 1961.

Deductibles

The deductible limit of a top-up health insurance plan is a crucial feature that should be crystal clear to policyholders. The insurance company is not liable to pay any insurance benefits before the pre-decided deductible limit is paid by the policyholder. Deductibles reduce the liability for the insurer and lead to lower premiums for top-up policies. Bajaj Allianz Extra Care Plus provides a wide range of sum insured and deductibles. You can get a coverage ranging from Rs 3 Lakh to Rs 50 Lakh, with an option to choose deductibles between Rs 2 Lakh and Rs 10 Lakh.

Conclusion

Medical care costs are rising at a rapid pace. Having a regular health insurance plan may not be enough to provide comprehensive coverage to your family. Along with a host of unique benefits, Bajaj Allianz Extra Care Plus provides unparalleled convenience with cashless claims in over 6000 hospitals across India. Benefits under the policy can be claimed in four simple steps through Finserv MARKETS.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522