Buy Health Insurance Top-Up Plans today!

If you contract coronavirus during your insurance application process, your insurer can withhold or even reject your application. If your application states that you do not have the infection, but you contract it during the review stages, this is a kind of inconsistency, and hence, again, your application may be withheld or rejected. But, if you do not contract the virus during the application-review stage, and your policy is activated, then you have the same benefits as an existing policyholder. However, before going through with your insurance purchase, carefully scrutinize its exclusions.

As per the IRDAI mandate, your health insurer should pay for your COVID-19 diagnostic test. However, Indian health insurance providers have not publicly stated that they will cover for COVID-19 testing. What they have stated is that a standard health insurance policy will cover any COVID-19 inpatient or outpatient treatment cost (which usually includes testing). As a diagnostic test classifies as a pertinent medical cost related to COVID-19, it is likely to be covered by a standard health insurance policy. There may be exceptions to whether your insurance provider will cover you. For instance, if you are asymptomatic and you conduct a precautionary test, your insurer may not fund it. Talk to a representative from your insurance company to know all the conditions under which your insurance provider will fund your testing.

No. If you have declared your pre-existing illness to the Insurance provider and are liable to receive cover for it or if you have contracted an illness such as coronavirus after purchasing the policy, the provider cannot refuse to renew your insurance or cancel it. This is simply because the IRDAI does not permit cancellation or refusal of renewing a policy unless the policyholder commits a fraud. However, it is worth noting that the above-stated statement only stands true for traditional health insurance products such as Mediclaim and not other special health insurance products such as fixed benefit insurance plans.

A basic health insurance plan offers protection for you and your family against financial contingencies that may arise due to medical emergencies. However, what does one do if the sum insured provided gets exhausted? Here’s where an individual Health Top-up plan helps. It acts as a supplement over and above your existing health insurance plan. If you are bound to change your job, a health insurance top-up is a must as it will supplement your savings especially when the costs incurred due to medical treatment are more than your savings.

The term ‘deductible’ refers to the cost/specific amount that a health insurance policy holder must bear as per the policy in question. For example, certain medical equipment used during hospitalization (syringes, gloves for doctors, bed charges) may be categorized as ‘deductibles’ and are not covered by the health insurance policy. These costs are then borne by the policyholder. However, do keep in mind that deductibles do not reduce the sum insured amount of the policy. To help understand this better, here is an example - Rahul opts for a basic plan with a sum insured of Rs. 10 Lakhs. In the same policy year, he makes a claim for Rs. 6 Lakhs. The amount is reimbursed by the insurer while Rahul still has Rs. 4 Lakhs of his sum insured remaining. On the other hand, Raveena opts for a base plan of Rs. 10 Lakh and a top-up plan of Rs. 15 Lakh and a deductible amount that is of Rs. 3 Lakh. She then makes a claim of Rs. 6 Lakh and has Rs. 4 Lakh of the sum insured amount left. This is reimbursed to Raveena. Going forward, she makes another claim of Rs. 7 Lakhs for which Rs. 4 Lakh is reimbursed from the base plan and Rs. 3 Lakh from the health insurance top-up plan. Raveena can still make a claim for Rs. 12 Lakh.

Extra Care Plus Top-up plan provides the following benefits: 1. Coverage of costs in the event of in-patient hospitalization, 2. Pre-& post hospitalization costs (60 days prior and 90 days post-hospitalization), 3. Certain costs related to organ donor procedures, 4. Day care treatment costs, and 5. Coverage of ambulance expenses in the event of road accidents. For a complete list of inclusions and benefits, please refer to the ‘What’s Covered’ section of this page.

The basic eligibility criteria would be your entry age. This should be between 91 days to 80 years. For more information on this, refer to the Eligibility Criteria section of this page.

Yes, you can. Premiums paid for this top-up plan are tax-exempted under section 80D of the Income Tax Act.