Health insurance tips: Should you opt for riders and top up plans?


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It is now crucial for everyone to obtain proper coverage through health insurance as healthcare costs rise. The correct level of health coverage should be carefully chosen, according to experts.

The kind of policy and the number of dependents determine how much health coverage is available. Under the current circumstances, a person should purchase a plan offering a minimum level of coverage of Rs 5 lakh to Rs 10 lakh to protect themselves against any health emergency.



There are additional possibilities for riders and top-up plans under health insurance to expand one’s level of coverage.


Rides and top-up plans: what are they?

A health insurance rider put simply, is an addition for further benefits. The policyholder must spend an additional amount beyond the initial premium to choose a rider. Such incremental costs are typically quite little. The room rent waiver, maternity coverage, hospital cash, critical illness coverage, and personal accident rider are some of the well-known riders included with health insurance.


How much insurance coverage do you need in case of an emergency?


People who already have a health insurance policy or employer-sponsored medical plan can add additional medical coverage with a top-up health insurance plan. Even if the sum assured under the normal policy is used up, top-up policies still cover medical bills.


Should you choose a plan with riders and top-ups?

To avoid being underinsured, experts advise people to choose riders and top-up policies wisely.


According to Aatur Thakkar, co-founder, and director of Alliance Insurance Brokers, “Along with health plans, one should also go for riders and top-up plans that are available to expand one’s health insurance coverage and to cover the primary financial risks.”


Since healthcare costs are rising, it is suggested that family history be taken into account when choosing health insurance. A significant number of the younger generation will eventually be affected by rising lifestyle diseases like cancer, heart disease, and diabetes; as a result, taking precautions to reduce your chance of developing these conditions is equally crucial, he continued.


Why riders and top-up plans should be chosen

According to Thakur, even though more and more people are choosing health insurance after the Covid outbreak, underinsurance is still a significant problem. The problem is helped by riders and top-up programs.


More and more people are choosing to purchase health insurance since the covid pandemic’s outbreak and the increase in the expense of medical care, but “Under insurance” is still a significant problem when they submit a claim. One should evaluate their needs, current age, health condition, lifestyle, and income methodically to determine the appropriate level of health coverage. The other important things to take into account when choosing coverage are inflation and conceivable unforeseen expenses, according to Thakur.


“It is suggested that one select a health plan that costs at least 50% of annual income. Making the appropriate choice in selecting a health plan involves choosing an acceptable insurance amount under one’s needs and carefully reviewing the exclusions and restrictions,” he continued.



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