Group super top-up health insurance plan is an extension of health insurance plans which can be used at the time of claim settlement when the existing/ base health insurance plan’s sum insured expires. The group super top up health insurance plans act as an extension of the existing health plan with a certain deductible amount. The deductible under the super top up health insurance policy would be decided by the customer.
Group super top up health insurance plan is given to the members of an existing group health insurance plan. The group health insurance policy premium would be paid by the employer, the employees can pay the premium for group super top up plans or the same can be paid by the employer. The premium for the group super top up plans would be lowest when compared to the group health insurance plans.
- Aggregate deductible: The group super top-up health insurance plans work on the concept of aggregate deductible where the aggregate of the claim amount would be considered for the deductible during the policy period. In simple words if the claim limit crosses the deductible limit during the first claim, then from the second claim there would be no concept of deductible in the group top up health insurance plan.
For example, you have a group health insurance policy of Rs.5 Lakhs and you take a group top-up health insurance plan of Rs.25 Lakhs with Rs. 5 Lakhs deductible. For the first claim of Rs. 10 Lakhs, Rs.5 lakhs will be paid from group health insurance policy and the remaining Rs.5 Lakhs have to be borne by you as the deductible in the super top up is Rs.5 Lakhs. For the second claim of Rs. 10 Lakhs the entire amount would be paid by the super top up health insurance plan without the need for deductible.
- High coverage at low price: The group super top up health insurance plan comes with a high sum insured at a low premium. The premium of the super top up plan depends on the deductible opted by the customer. Higher the deductible limit, lower would be the group super top up health insurance plan.
The premium of super top-up health insurance plans would be usually 1/3rd of the premium of the premium of the group health insurance plans on a per person or per family basis.
- Very useful for parents/ senior citizens: The group super top-up health insurance plan is very useful for parents and senior citizens as the high sum insured for them would attract a high premium. A normal health insurance policy of same coverage would be at least 5 times higher in premium than that of the super top up health insurance plan.
- No room rent restriction: The group super top-up health insurance plans come with no room rent restrictions. Customers would be free to have a group super top-up health insurance plan without room rent limits. This helps the customers avail complete claim amount in case of hospitalization of the insured.
- Customization: The group super top-up health insurance plans are customizable and can be customized as per the needs and requirements of the customer. The sum insured, room rent limit, co-pay and other details can be customized as per the needs of the customer.