5 Benefits of Online Health Insurance Top-Up 

 March 14, 2023

Introduction

Health insurance is one of the most important investments that individuals make for themselves and their family. It provides a safety net against unexpected illnesses and medical emergencies. As medical expenses continue to rise, it is important to have adequate health insurance coverage. One way to ensure maximum coverage is by opting for an online health insurance top-up. In this post, we will discuss the 5 benefits of online health insurance top-up.

1. Increased coverage at a lower cost

One of the major benefits of opting for an online health insurance top-up is that it increases your coverage at a lower cost. The premium for an online top-up is significantly lower than that of a regular policy. This is because a top-up policy only kicks in once the sum insured of the base policy is exhausted, thereby reducing the risk for the insurer.

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2. Customizable coverage

Another advantage of an online health insurance top-up is that it is highly customizable. You can choose the coverage amount and deductible as per your requirements. This ensures that you are only paying for the coverage you need, without having to shell out for unnecessary features.

3. No medical check-up required

Online health insurance top-up policies generally do not require a medical check-up. This saves you the hassle of going through the entire process and can be especially beneficial for those who have pre-existing medical conditions.

4. Easy to buy and renew

Online health insurance top-up policies are easy to buy and renew. You can purchase a policy online in just a few clicks and the policy document is usually available instantly. Renewal is also hassle-free as you can do it online as well.

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5. Tax benefits

Lastly, an online health insurance top-up is eligible for tax benefits under section 80D of the Income Tax Act. You can claim a deduction for the premium amount paid for the top-up over and above the deduction claimed for the base policy.

Conclusion

With healthcare costs on the rise, it is important to ensure that you have adequate health insurance coverage. Online health insurance top-up policies offer increased coverage at a lower cost and are highly customizable. They also do not require a medical check-up, are easy to buy and renew, and are eligible for tax benefits. As always, it is important to carefully evaluate your options and choose a policy that best suits your needs and budget.

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FAQs

1. What is an online health insurance top-up policy?
An online health insurance top-up policy is a policy that provides additional coverage above and beyond your existing health insurance policy.

2. How is the premium for an online top-up policy lower than a regular policy?
The premium for an online top-up policy is lower as it only kicks in once the sum insured of the base policy is exhausted, thereby reducing the risk for the insurer.

3. Do online health insurance top-up policies require a medical check-up?
Most online health insurance top-up policies do not require a medical check-up.

4. Can I customize the coverage amount and deductible for an online top-up policy?
Yes, online health insurance top-up policies are highly customizable and you can choose the coverage amount and deductible as per your requirements.

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5. Are online health insurance top-up policies eligible for tax benefits?
Yes, online health insurance top-up policies are eligible for tax benefits under section 80D of the Income Tax Act.

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