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I have employer policy for 2A+1C, and a super top up of 5+95. But sill in dilemma.

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17 Oct, 2021 by  Sharad

I have employer policy for 2A+1C, and a super top up of 5+95. But sill in dilemma about when to take a base policy? I am 43 and no health issues for now. Confused out of below options:

  1. Should I take base policy now, as health is favorable.
  2. Should I take base policy 5-6 years before my planned retirement age
  3. Should I build a corpus for deductible in my super topup policy and never take a baase policy (considering the value of 5L deductible will fall downwards due to inflation in 10-12 yrs) and I might not need a base policy at all.
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Health Insurance

2 Answer

19 Oct, 2021
Chartered Accountant, Personal Finance Advisor

Hi Sharad

The Employer cover would cover the family as long as you are in Employment, but the Employer may change bring down the Sum Assured or vary the policy coverage to include/exclude family members. In case you decide to change the employment, we don't know the situation at the other Employer. Hence it is advisable to take a Personal Health insurance cover now when you are in early 40s and have no health issues.

The premium on the Super Top-up policies with Rs. 95 Lakhs cover with Rs. 5 Lakh deductible may be cheaper at this point of time, but we are unsure whether these policies will stay the way they are, the insurer can change the features of the product on completion of 3 years from the launch of a plan.

Hence, It is advisable to take a base plan which you can afford to pay premium for.

However, you should continue to build a health emergency corpus as a back-up plan

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19 Oct, 2021
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20 Oct, 2021
CEO, Insurance Samadhan

Dear Sharad

You seems to be adequately covered with employer cover and super Top up of 95 lakh .

Rather buying a base , build a medical emergency fund through mutual funds .

1. No need to buy Base plan as your employer cover is good . Build emergency fund instead .

2. Your saving would bu build till then and continue super Top up .

3. Yes , that seems to be best option .

Best wishes


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