My mother aged 79 yrs has a basic mediclaim policy of Rs 1.5 lakh. I want to take a top up plan for her for Rs 5 lakh. Please advice.
A top-up policy is a basic health insurance policy that covers hospitalisation. It is a useful product as it helps you increase your health cover at a much lower additional cost. But it does so only after a threshold limit (called the deductible) is crossed.
Most top-up plans have a maximum entry age limit of upto 65 years. There are few, such as ICICI Lombard Health care Plus which do not have a maximum entry age restriction, from which you can choose a plan for your mother. Besides, the premiums can be quite high at your mother's age and will also depend on her general health. Therefore, make sure to go through the terms and conditions carefully and take an informed decision.