Super Top up.. Help

[Nemesis]

Since am an office guy like most of you all... We get insurance cover from company for our family... Be it health or term life. Some time company give option to increase cover amount, in my case it's not giving same.

Recently seen this top ups in apps and websites... How are they any cons?

Phonepe (Health), acko also has one.
Any option to increase top up on term life?

 

[anirban.choudhury]

A suggestion would be rather than taking top up , always keep a separate personal insurance policy .
When we leave the company , the policy lapses and you may need to buy a personal policy at higher rate than what you are getting now

 

[Kiranonlinee]

Since am an office guy like most of you all... We get insurance cover from company for our family... Be it health or term life. Some time company give option to increase cover amount, in my case it's not giving same.

Recently seen this top ups in apps and websites... How are they any cons?

Phonepe (Health), acko also has one.
Any option to increase top up on term life?

Try ola super top-up i found it value for money 🤑 at least from my point of view

 

[Nemesis]

A suggestion would be rather than taking top up , always keep a separate personal insurance policy .
When we leave the company , the policy lapses and you may need to buy a personal policy at higher rate than what you are getting now

But that gap is of less than a month while you are switching.... Willing to take risk, heard acko also covers this gap

Higher rate is just an assumption which company threaten you with... You have competition to reduce premium. Cancellation before mid year would give the rest of premium.


I know in future the premium will go up but keeping your old long term they give max 5 years for health then you will get a shocker right?

 

[Nemesis]

Try ola super top-up i found it value for money 🤑 at least from my point of view

I go by good companies... Ola might explode just like their electric bikes

 

[Kiranonlinee]

I go by good companies... Ola might explode just like their electric bikes

Ola got partnered with Aditya Birla insurance for super topup

 

[beingmohit]

It is always wise to purchase a separate health insurance plan, apart from the one your employer provides. Let's say you left your current job on 15 Apr and you are joining a new organisation on 1st May. For 15 days, you will be uninsured. One other thing is, after retirement, it will be nearly impossible for you to purchase a new plan. So, it is always better to have a separate one.
You can purchase a plan of 5L and then get a super top-up for 50L. Please note that the numbers are just an example and not an indication of how much coverage you may need.
You may want to check out Labor Law Advisor's video on Youtube for more info:

 

[Nemesis]

It is always wise to purchase a separate health insurance plan, apart from the one your employer provides. Let's say you left your current job on 15 Apr and you are joining a new organisation on 1st May. For 15 days, you will be uninsured. One other thing is, after retirement, it will be nearly impossible for you to purchase a new plan. So, it is always better to have a separate one.
You can purchase a plan of 5L and then get a super top-up for 50L. Please note that the numbers are just an example and not an indication of how much coverage you may need.
You may want to check out Labor Law Advisor's video on Youtube for more info:

15 days gap every 3-5 years... Not much impact

Retirement you sure? My kids will add me in their company plan as parents ahahaha 😅

 

[beingmohit]

15 days gap every 3-5 years... Not much impact

Retirement you sure? My kids will add me in their company plan as parents ahahaha 😅

Well, it's your call. I am not brave enough to risk it, unlike you. So, I just suggested what according to me is the right approach

 

[RaviAgl]

Top up for insurance is a bit misleading in its name.

I find it almost useless if you already have mediclaim insurance worth 10 lacs.

The idea of top-up is that it will become active once you have exhausted your existing mediclaim insurance limit.

Now, suppose you already have a medical insurance of Rs 5 lacs. Most diseases require around 1 to 3 lacs at the most to be treated. So, your top-up is of little use, unless you have a disease that requires a very large amount for treatment.

Then, there is another condition that you cannot use your top-up for multiple claims as in, suppose for a 5Lac mediclaim, you claimed 3Lac once and then again 3.5Lac. As far as I know, you cannot use your top-up for balance 1.5Lacs as the threshold of 5Lac has not been reached in a single instance.

Moreover, nowadays insurance companies also provide auto restore benefits, so the top up is again of little use.

Regards,

 

[Zacobite]

Since am an office guy like most of you all... We get insurance cover from company for our family... Be it health or term life. Some time company give option to increase cover amount, in my case it's not giving same.

Recently seen this top ups in apps and websites... How are they any cons?

Phonepe (Health), acko also has one.
Any option to increase top up on term life?

Base policy + super top up is ideal.. Excluding the company policy.. Most base policies have reassure or refill etc.. so will suffice.. Buy High Coverage from the start to manage rising costs of medical.. u don't have to worry for life.. 50 L + will be about ~ 40 k p. a.. if u buy low then god forbid in case you have a claim, getting more insurance will become expensive and difficult with all kinds of exclusions.. STopUp stick to big insurance cos

 

[Zacobite]

Base policy + super top up is ideal.. Excluding the company policy.. Most base policies have reassure or refill etc.. so will suffice.. Buy High Coverage from the start to manage rising costs of medical.. u don't have to worry for life.. 50 L + will be about ~ 40 k p. a.. if u buy low then god forbid in case you have a claim, getting more insurance will become expensive and difficult with all kinds of exclusions.. STopUp stick to big insurance cos

Also read about Top Up and Super Top Up difference.. Base + Super Top Up best.. skip only Top Up

 

[Nemesis]

Top up for insurance is a bit misleading in its name.

I find it almost useless if you already have mediclaim insurance worth 10 lacs.

The idea of top-up is that it will become active once you have exhausted your existing mediclaim insurance limit.

Now, suppose you already have a medical insurance of Rs 5 lacs. Most diseases require around 1 to 3 lacs at the most to be treated. So, your top-up is of little use, unless you have a disease that requires a very large amount for treatment.

Then, there is another condition that you cannot use your top-up for multiple claims as in, suppose for a 5Lac mediclaim, you claimed 3Lac once and then again 3.5Lac. As far as I know, you cannot use your top-up for balance 1.5Lacs as the threshold of 5Lac has not been reached in a single instance.

Moreover, nowadays insurance companies also provide auto restore benefits, so the top up is again of little use.

Regards,

10L is not sufficient if you are including your family in it... 20L is ideal they say... Any which ways due to inflation this will also change

Each treatment would cost less than 5L but something serious happens then i think each day of the room or icu cost adds up even for single individual... Multiple treatments different hospitals... Have seen it in COVID situation.

Auto restore might be a costly affair from next time you won't get NCB.

Anyone knows how often they revises each treatment cost?

 

[saucy]

You mentioned you wanted top up on term life, yeah?

 

[RaviAgl]

10L is not sufficient if you are including your family in it... 20L is ideal they say... Any which ways due to inflation this will also change

Each treatment would cost less than 5L but something serious happens then i think each day of the room or icu cost adds up even for single individual... Multiple treatments different hospitals... Have seen it in COVID situation.

Auto restore might be a costly affair from next time you won't get NCD.

Anyone knows how often they revises each treatment cost?

Agree with this. Was talking about topups, though.

 

[Nemesis]

Base policy + super top up is ideal.. Excluding the company policy.. Most base policies have reassure or refill etc.. so will suffice.. Buy High Coverage from the start to manage rising costs of medical.. u don't have to worry for life.. 50 L + will be about ~ 40 k p. a.. if u buy low then god forbid in case you have a claim, getting more insurance will become expensive and difficult with all kinds of exclusions.. STopUp stick to big insurance cos

50L based on inflation will go down to 20L in 20 years and near 10L in 30 years... After each 5 year super top up to compensate inflation would be a good option

Top up and super top up difference for the community https://www.policybazaar.com/health-insurance/general-info/articles/top-up-vs-super-top-up/

 

[krishc]

I took a 1cr super top-up from acko, very economical I'd say
another good option is Manipal Cigna
my company gives a 8L health insurance cover, which in case I leave the company, can continue as as individual by paying the premium myself and get continuity benefits
also my company occasionally ups the health cover amount basis inflation and rise in healthcare cost

 

[Nemesis]

You mentioned you wanted top up on term life, yeah?

Yeah was searching... No one offering...

You can get two three policies from different provider to increase... each time going through the process of many checks... Want to skip this checks

 

[saucy]

No, some do provide.
I can talk about Max - i think they offered to top up on imp life events - like marriage and having kids.


Plus, look at it this way -
Buying term life = definitely gonna get a medical checkup.

So instead of looking it as hassle, look at it as a free yearly or half yearly medical checkup!
(You can infact return the policy and i think they don't ask you for the medical checkup cost)🤣🤣

 

[Nemesis]

I took a 1cr super top-up from acko, very economical I'd say
another good option is Manipal Cigna
my company gives a 8L health insurance cover, which in case I leave the company, can continue as as individual by paying the premium myself and get continuity benefits
also my company occasionally ups the health cover amount basis inflation and rise in healthcare cost

Any feedback of acko related to claim settlement?