Star Health Super Surplus Insurance Plan

Objective

This is a top-up policy that aims to protect policyholders from higher claims in a cost efficient manner.

Suited for

This policy is suitable for those who are covered under employer's insurance policy. It can be bought as an extension to your existing policy to provide higher protection. It is also worthy for older people when the chances of higher claims are more.

What does it do?

This policy works as a top-up on your existing insurance cover to pay for expenses which could go beyond your existing cover. It can be bought as a supplementary policy to pay for higher claims. This policy will not get triggered until your expenses cross the deductible. Deductible is the limit which has to paid by your existing policy or out of your pocket if uninsured. Deductible applies on a per-claim basis. For an instance, if the policyholder has a top-up cover with a threshold of Rs 3 lakh and gets hospitalized twice in a year with bills of Rs 2.5 lakh and Rs 2 lakh respectively, the top-up plan will not be triggered. This policy will activate only if the single hospitalisation bill exceeds the threshold mark.

Pros

This policy can be bought online.
Premium paid towards this policy qualifies for deduction under section 80D of Income Tax Act.

Cons

The policy does not allow lifelong renewal.
Deductible applies on per-claim basis.

Our View

This policy is good for those who foresee bigger responsibilities and thus wish to increase their health cover. Sharing costs through a top-up policy is useful as it provides higher cover at comparatively low rates. Deductible on per-claim basis is a drawback. Nonetheless, this policy is suitable for the elderly as they are more likely to risk of high medical bills.