I have a Family Floater Mediclaim policy from Oriental Insurance for ₹8 lakh. I would like to go for a floater Top Up Plan of ₹20 lakh with ₹5 lakh deductible coverage. Is this right option? I have thought about L&T Insurance Super Top Up plan. Is it right choice? I am 46 years old. My family has two adults and two children.
- R Sharma
A super top up on the basic health insurance policy helps you to enhance your coverage. L&T Insurance Top Up Plan is a good policy that will cover expenses over and above aggregate deductible amount. Deductible is the initial amount which has to be either borne by the policyholder or paid out of basic health insurance policy. Since you have a basic cover of ₹8 lakh, you should opt for an equivalent deductible coverage.
A major advantage of this policy is that it will freeze future premiums equal to the premium at 60 years of age. So, policyholder will not get surprises of increase in premiums after retirement. However, 10% of each claim will have to be borne by policyholder once he reaches 80 years of age.
This article was originally published on November 16, 2015.
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