Your group health insurance plan is meant to provide you and your family protection, both health-wise and financially. But, with the rate at which the cost of medical treatments is increasing, do you find yourself questioning, “Is my group health policy sufficient to cover unforeseen medical expenses?” especially because you want the best quality of care. Rather than buying multiple policies or digging into your savings, a more feasible option is super top-up insurance.
What Is Super Top-Up Insurance?
In simple terms, a super top-up plan is like an enhancement to your existing policy’s sum insured amount. It comes in handy when you exhaust your existing sum insured. It acts as an additional layer of protection that you can count on.
The typical coverage for corporate health insurance customers is Rs. 2 to 5 lakhs. This amount may not always suffice to cover the hospitalization expenses for the whole family. Especially today in cities like Pune, Mumbai, or Bangalore where you need at least Rs 7 lakhs for bypass surgery. So Rs 2 to 5 lakhs is not enough! You need a minimum cover of Rs 10 lakhs.
So if you feel underinsured and or at the risk of losing your savings in case of a medical emergency, you need a super top-up plan.
We’ve Got Good News For Loop Members
Now, Loop members can increase their existing health insurance coverage by Rs 3 to 30 lakhs by buying the super top-up plan at prices starting as low as Rs 499/-.
Why Loop’s Super Top-up?
As a Loop member, you’re protected from increasing medical expenses and better financial comfort if your base policy’s coverage is insufficient
With Loop’s super top-up plan, you don't need to pay as much as a retail health plan for the same sum insured. At a lower price, you get more protection over and above your existing limit.
In addition to all this, you also get cover for all pre-existing diseases from day 1, which generally comes with a 24-month waiting period if you purchase from other brokers/insurers.
Best of all, the claims process is handled by Loop’s in-house claims support team and partner TPAs, with a seamless and paper-less journey end-to-end that’s trusted by millions!
Sahel Joshi, one of our Super Top-Up customers, said, “I was amazed to see how smooth and easy the process was to buy the super top-up policy for me and my wife. My company provided me with a 5 lakh health cover, which I felt was too less, given the rising medical costs. Thanks to Loop, I got both of us covered for an additional 15,00,000 for just Rs.399 per month, which is less than the health check-up they are providing us for free. Never thought buying insurance will be this delightful”
Why Do You Need To Buy Super Top-up From Loop?
You get extended coverage without having to go through the hassles of picking, choosing, and buying retail coverage. And the best part is the coverage stays with you even after you leave your company.
How It Works?
If you’re a Loop member, you can now directly visit our website (www.loophealth.com) and purchase a super top-up plan of your choice.
Once you visit the website, click on the Super Top-up prompt in Product Features. Payment can be made digitally and the entire process is complete in less than a few minutes!
1. How does super top-up plan work?
Super Top-up insurance helps you to cover additional medical expenses if you exhaust your existing health insurance coverage. In other words, it extends the limit of your existing health insurance. For example, you have health insurance of Rs 3 lakh and you bought a super top-up insurance plan of Rs 5 lakh. Now, your total sum insured is Rs 8 lakh (Rs. 3 lakhs + Rs. 5 lakhs). Say, in the event you’re hospitalized and your bill is Rs 7 lakhs, your policy covers you only for the first Rs. 3 lakhs but with the help of your super top-up that you purchased, the additional expense gets covered.
2. How is top-up different from super top-up?
Simply put, a top-up plan only covers costs for one claim that goes above the limit of your base health cover. However, with the super top-up plan, the cover is available for more than one claim even after you exhaust your deductibles in that year.
3. How is my top-up premium calculated?
Your super top-up premium is calculated based on a couple of factors, such as the chosen sum insured, the deductible, geographical location, and your age.
4. What is a deductible? Can I choose the deductible?
A deductible is an amount the policyholder pays out of their pocket before the insurer covers any of the costs.
Let's give you an example to help you understand further. Say you choose a deductible of INR 3 lakhs for your super top-up plan and a sum insured is Rs 10 lakhs. At the time of a claim, say your total claim amount comes up to INR 5 lakhs then you will need to pay for the first 3 lakhs either through your insurance plan or your pocket and the remainder of INR 2 lakhs will be covered by your super top-up plan.
We recommend that you shouldn’t have a gap between your base policy’s sum insured and the super top-up deductible. So you can avoid paying anything from your pocket.
5. What are the various options for sum-insured?
You can choose a sum insured option between Rs. 3, 5, 10, 15, 20, and 30 lakhs for your super top-up policy. You have a wide range of choices so you can find a policy that fits your needs.
Loop recommends you have at least Rs. 5 lakh per family member, so Rs. 20 lakhs for a family of 4 for sufficient health cover and protection. For instance, if your base cover is Rs. 5 lakhs for your family (spouse + kids), you should go for a super top of Rs. 15 lakhs.
6. Is there any age restriction for purchasing the policy?
Anyone between the ages of 0 to 45 years is eligible to buy a super top-up health insurance policy.
7. Does it cover Covid treatment as well?
Yes, this covers covid-related treatments too.
8. Is Ayush treatment covered under Super top-up plans?
Yes, this covers Ayush treatments too.
9. What if I undergo treatment for any illness overseas?
This does not cover expenses for overseas treatment. Currently, it covers treatment only in India.
10. Can I cancel my policy after I purchase it?
After you purchase the policy and it’s issued to you by Loop, you cannot cancel it.
11. What happens when my base group medical cover expires?
The super top-up is valid for 1 year from the date of policy purchase, irrespective of when your base medical cover expires, the super top-up benefits will be valid for 1 complete year.
12. How can I file a claim from a top-up policy?
You can use the cashless or reimbursement method to claim your top-up policy after you exhaust your base health cover. GoDigit has 1000+ hospitals as part of its network list to avail cashless facilities all over India. Our Loop team is available 24x7 to help with all claim-related queries and to ensure a smooth claim process.
13. What documents do you need to purchase a super top-up insurance plan?
Since your company has chosen Loop as your health benefits partner, you are now a Loop member. Therefore, other than a simple verification, we do not require any additional documents from you.
14. Can I get a discount for buying a super-top policy?
Loop offers premiums 20% lower than other retail super top-up policy providers. We ensure you get the best-in-class features at the most economical rates.
15. What if I leave my current company?
After leaving your current organization, the group health cover provided by your company through Loop will expire. But your super top-up cover will be still available for an entire year from the date of purchase.
We recommend you to buy a retail health cover through Loop or any other channel to cover yourself and your family after you leave your current company, to keep protecting yourself against medical emergencies.