In an earlier post I wrote about Health Insurance and what factors matter in selecting one. I compared 3 health insurance plans too – that of Apollo Munich, Max Bupa and Religare.
As you would understand by now, when you take a Health Insurance Policy, you are allowed to claim expenses against any medical treatments (as specified in the policy document) upto the amount of Sum Insured.
The question is what would happen if your medical expenses go beyond the Sum Insured. For example, you have a health insurance cover of Rs. 5 lacs. But for an unfortunate event that required hospitalisation, the medical bills ran upto Rs. 9 lacs.
Your health insurance would cover the expenses upto Rs. 5 lacs only. Where would you arrange the balance Rs. 4 lacs?
The simple answer is you would have to pay out of your own pocket, putting a dent in your finances.
Well, there is another solution to this problem. It is to buy a Top Up health insurance cover.