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Top-up option for Family Floater policies...

Monday, March 20, 2017
By Rajiv Kumar

Rajiv Kumar is MD and CEO, Universal Sompo General Insurance Co. Ltd.

Is there a Top-up option available in Family Floater policies?
    — Mahesh Kundra, Matunga Road

Yes. There are both Top-up as well as Super Top-up options available in the market for family floater health policies. Wide range of Sum Insured as high as Rs 50 lakh is available in the market with flexible deductible options. Basic concept of these (top-up) policies is that the coverage triggers beyond a deductible chosen by you in case of hospitalization. The difference between a Top-up and a Super Top-up policy is that, in the former the deductible threshold applies for each hospitalization and in the latter it applies for all aggregate hospitalizations in the policy year. Deductible will apply on floater basis in case of a floater policy. These policies are more economical ,in order to opt of coverage for higher sum
What are the benefits opting a Two Wheeler Long Term policy product?
    — Vijay Patel, Kandivali

The bike owner will be free from any break-in coverage and will be ensured that any accidental damage and third party liability arising from use of the vehicle will be automatically covered for a longer period of time. It is often seen that, customers have a reluctance to renew their policy annually even for the mandatory Third party liability cover. By opting for a long term policy you can be assured to get your tow wheeler vehicle covered for longer period upto three years. You also get a long term discount on the own damage premium and incremental NCB over and above the normal NCB if you renew your long term policy with a long term policy. We see such policies gaining traction and ensures complete protection and abiding of the law for a longer period of time.
I am 28 years old. I suffer from High Blood Pressure. Can I opt for a Critical Illness Policy instead of Health insurance?
    — Shahab Qureshi, Chembur

High blood pressure is not a critical illness, but will be surely considered while granting the coverage. The same can be called for extra loading on premium based on the current status of illness and treatment taken for. As you are young, you are advised to take a health insurance policy as quickly as possible with a critical illness add-on. Please remember that critical illness policy will cover only named diseases on first diagnosis during the policy period and other hospitalization expenses will not be covered in the scope of coverage. It will be better to opt for a complete coverage as high blood pressure may result in other complications in future not covered under scope of a critical illness policy.
Can I opt for a Cashless Ambulance service for a planned surgery?
    — Arun Bhatia, Kurla

Ambulance services are provided for an emergency situations for transfer to the nearest hospital if an inpatient claim is admitted under your health insurance policy. Insurers generally cap the maximum amount payable for such emergency ambulance services to a specified amount. The coverage includes the cost of the transportation from a Hospital to the nearest Hospital which is prepared to admit the patient and provide the necessary medical services if such medical services cannot satisfactorily be provided at current Hospital, provided that transportation has been prescribed by a Medical Practitioner and is Medically Necessary.

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