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policy option of (Base + Super topup) Vs single 1 crore policy

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27 May, 2021 by  Ramanji Jerugula

Hello,


I have a base policy of MY:HEALTH SURAKSHA family floater for 5L, ( 16,663 premium)

"my: health Medisure Super Top Up" of 15L ( with 5L Deductable) ( 414 premium).

both are HDFC ergo. currently, 2nd year is running.


considering the current situation is there a possibility of an increase in the coverage amount of existing policies. or is it better to take an additional super top Policy with more additional coverage?

and also recently seen from the website, about the new policy, HDFC ergo "my:health Koti Suraksha" too. (26227 premium)


or how about taking a single policy lapsing old ones. which is the best option.


Family members age ( 38Y,32Y, 3Y)


please share your views. What are the best options?

  • Existing Base policy + Existing super Top up ( increase premium if allowed)
  • Existing Base policy + Existing super Top up + new Super top up
  • New 1 Crore single policy




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29 May, 2021

Hello Ramanji,


Good to know that you are consciously working towards great healthcare coverage for your family.


Everything else being equal, having one large cover in one policy is always beneficial - so if cost is not the concern you must go for one large cover in place of covers spread across multiple policies. Having one cover ensures you do not have the hassle of managing multiple policies - also claims are smoother.


In case you are going to buy one policy, ensure you opt for portability, and port your continuity benefits to this new policy. You can opt for portability 45 days prior to the expiry of your existing policy. You can port to any insurer in the country.


Would also recommend you read this article about 1 Crore covers being offered: How is the 1 Crore health insurance cheaper than 25 lakh cover? (beshak.org). There is a chance that this could be a combo plan - please check carefully.


Regards,

Mahavir

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02 Jun, 2021
Ramanji Jerugula
Thank you, Mahavir. it clarifies my queries.
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