SACHA ADVICE. ACHA ADVISOR.
back arrow Back

Waiting Period on enhanced sum insured in a super top up

reply Share
09 Jan, 2023 by  Sahbaz Ahmed

Policy Name : Niva Bupa ReAssure

Base Sum Insured : 5 lacs on floater basis

Ages of insured individuals : 52 and 47 respectively

Policy active since : 12 February 2022

Pre-existing diseases waiting period : 36 months

Pre-existing diseases declared : Yes

Pre-existing diseases : Diabetes and Hypertension


When I took the policy, my strategy was to gradually increase the cover till my father's age reached 55. I am unable to buy a large enough base cover from the outset due to financial considerations, and hence I opted for the strategy mentioned above so that every year I can plan and set aside the premium on renewal.

However, this year Niva Bupa decided to increase the premium by 15% and I was duly informed of it in advance. I was given the option to renew my policy at the old premium if I did so before 5th January. I thought of increasing the cover to 10 lacs and add a Super Top Up of 40 lacs but was unable to do so due to certain circumstances, therefore I just renewed the policy on old premium rates and base sum insured, that is currently my parents are covered for 5 lacs.

I have thought of buying a Super Top Up of 45 lacs with a deductible of 5 lacs this year as it would have been comparable in terms of buying a plan having 10 lacs base cover with 40 lacs super top up (Niva Bupa Health Recharge) on the old rates, and increase the cover to 10 lacs + 90 lacs on next renewal.

I need guidance and advice as to how my waiting period with respect to sum insured will be in the future if I take the above mentioned course of action. The policy mentions imposing the fresh waiting period for enhanced sum insured and I am not accounting for the NCB benefits as I want to keep it as a buffer.

like like
0
Parents-Health-Insurance
Purchase

1 Answer

Post
17 Jan, 2023
connect with advisor

Hello,


With an incremental sum assured or top up policy, waiting period restrictions will be same as per your standard Policy conditions

like like
0
icon-comment 1 Comments
icon-reply Reply
connect with advisor
25 Jan, 2023
Sahbaz Ahmed
like like
0
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!

LIFETIME FREE

Rs. 1799

or

Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂