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Base policy with capping and top up without capping
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10 Mar, 2021
by Jimeet Gala
My father has a base policy with united India of Rs. 5 lakhs. I am planning to buy a top up plan of 20 lakhs with 5 lakh deductible from hdfc.
The base policy of united India has capping whereas the top up doesn't have capping.
My question is, whether the topup would cover the policy as per the base policy terms and conditions or without capping?
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17 Mar, 2021
Jimeet Gala
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17 Mar, 2021
Chartered Accountant, Personal Finance Advisor
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Dear Jimeet,
Please note the base policy and top up policy are both altogether different policies. The top up policy would have its own specified waiting period and exclusions. It is advisable to preferably take a top up cover from the same insurer as the one with whom the base policy is issued. One more important thing to factor in is to take a top up plan with the same date as your base policy commencement