Super Surplus Insurance Policy

Super Surplus Insurance Policy / Star Super Surplus (Floater) Insurance Policy

“Insurance for Health is Wealth” has become a prominent term in our fast-pacing world today. No matter how conscious we are with our mind and body, a health emergency may come knocking at any point in life. You must ensure that you are well-prepared for such circumstances.

A health insurance policy helps you to get timely treatment while facing an illness/injury. Even if you have a health insurance policy cover. At times when your medical bills take a huge spike, a sum insured of 5-10 lakhs might not be sufficient. In such cases, a top-up health insurance plan works as a supplement to your regular health insurance cover. This plan adds additional coverage to your existing health insurance policy. In simple words, a top-up health insurance plan offers additional protection after your existing policy has reached the threshold limit.

Star Health Super Surplus Policy is a premium health insurance plan that provides much more coverage than standard health insurance plans. The policy is available on a floater and individual basis, and individuals between the ages of 18 and 65 are eligible to purchase the policy.

When purchased on a floater basis, the policy can cover self, spouse, and dependent children. The policy offers a higher sum insured at an affordable premium, making it a preferred choice for many.

The Star Health Super Surplus top-up plan is a wonderful choice for anyone looking to expand their medical insurance because it provides more coverage at a lower cost.

The Star Health Super Surplus policy is available in two plans: Silver Plan and Gold Plan. The policy covers organ donor expenses, daycare treatments, ambulance charges, in-patient hospitalization expenses, pre-hospitalization, and post-hospitalization expenses.

Top-up Health Insurance Plan

A top-up health insurance plan is an extra medical coverage policy that indemnifies people who already have an existing health insurance policy or an employer mediclaim policy.

It is an insurance product that provides additional medical coverage to your existing health insurance policy or a group mediclaim policy. It enhances the degree of financial security you have against different health-related concerns and expands the sum insured amount.

If your health insurance policy does not provide enough coverage to meet high hospitalization bills, you may have to purchase two insurance policies or increase the sum assured amount.

Choose the best top-up health insurance plan that meets your requirements and enhances your degree of financial security against different health-related concerns.

Example

Suppose you have a health plan with a maximum sum assured of Rs. 5 lakhs and you take a top-up plan for Rs. 3 lakhs. If you are hospitalized, your base health plan will bear the costs of medical bills up to Rs. 5 lakhs, and the top-up plan will kick in after the maximum sum assured by your base plan has been crossed.

A top-up health insurance plan is an add-on cover that increases the health insurance coverage for the policyholder.

Medical bills may exceed the health insurance coverage and be paid by out-of-pocket expenses, and our financial stability is at stake. Top-up plans offered by insurance companies are a boon in such scenarios.

The Super Surplus Insurance policy by Star Health is a super top up health insurance plan providing up to one crore sum insured at an affordable premium. It comes with broad protection than that of the other basic plans. The policy is available for age group from three months to 65 years on both an individual and floater basis.

The policy is available in options as Gold and Silver plans. The waiting period under this policy is 12 months and 36 months, respectively. The policy terms are of one year/2 years. On the policy purchase, a lifelong renewability option is available.

Can we top up Health Insurance?

Yes, a person can top up his/her health insurance policy to offer extra coverage. A top up health insurance policy is an add-on to your existing health insurance plan. It provides extra coverage once your medical expenses exceed a certain deductible. We have seen what is top up in health insurance; let’s see how to top up health insurance.

How to top up Health Insurance?

You avail top-up health insurance in two ways, either as a top-up health plan or as a super top-up health plan. Both of these ways function as a booster to your primary health insurance policy. These plans could be used to pay the extra medical expenses if your regular health policy gets exhausted.

Can we take top up on Health Insurance?

Know how to take top up health insurance. As mentioned above, the top-up health insurance is an extra health coverage that you could add to a good health insurance that you took.

In our country, in some cases, your basic health plan might not be sufficient. as there is an increase in lifestyle ailments and medical inflation due to modernization. So, top up health insurance India could help you here.

Hence, choosing a top insurance alone is not enough; you could also select the best top up health insurance. Here, we have already discussed top up health insurance benefits.

When you check what is the top health insurance company also check the details of top up health insurance provided by those companies. Find out what is best insurance plan and also the best top up health insurance.

Features of Super Surplus Health Insurance Policy

Coverage under Super Surplus Insurance Policy / Star Super Surplus (Floater) Insurance Policy

The policy offers extensive coverage for both individual and floater under two plan options namely Gold and Silver.

This benefit is elaborated as follows:

Individual Plan (Silver)

1. In-hospitalisation Expenses- Expenses such as room, boarding and nursing expenses are subject to a maximum of Rs. 4000 per day. Other expenses like surgeon’s fee, anaesthetist, medical practitioner, consultants, specialist fee, blood, oxygen, ICU charges, operation theatre charges, medicines and drugs, diagnostic materials and lab tests are also covered.
2. Pre-hospitalisation Expenses- Expenses incurred up to 30 days before getting hospitalised are covered.
3. Post-hospitalisation Expenses- Expenses incurred up to 60 days after discharge are covered.
4. Coverage for Modern Treatments - Modern/Advanced treatments are covered under the policy for the specific illness up to the sub-limit mentioned in the policy clause.

Individual Plan (Gold)

1. In-hospitalisation Expenses - Expenses like room (Single Private AC room), boarding and nursing as provided by the hospital are covered. Other expenses like surgeon’s fee, anaesthetist, medical practitioner, consultants, specialist fee, blood, oxygen, ICU charges, operation theatre charges, medicines and drugs, diagnostic materials and lab tests are also covered.
2. Pre-hospitalisation Expenses - Expenses incurred up to 60 days before getting hospitalised is covered.
3. Post-hospitalisation Expenses- Expenses incurred up to 90 days after discharge is covered.
4. Coverage for Modern Treatments - Modern/Advanced treatments are covered under the policy for the specific illness up to the sub-limit mentioned in the policy clause.
5. Emergency ambulance charges - Emergency ambulance charges up to Rs. Three thousand per policy period for the transportation of the insured to the hospital is applicable.
6. Air ambulance charges - Air ambulance expenses are covered up to 10 percent of the sum insured per policy period (only applicable for sum insured Rs. 700000 and above).

Floater Plan (Silver)

1. In-hospitalisation Expenses - Room, boarding and nursing expenses are subject to a maximum of Rs. 4000 per day. Other expenses like surgeon’s fee, anaesthetist, medical practitioner, consultants, specialist fee, blood, oxygen, ICU charges, operation theatre charges, medicines and drugs, diagnostic materials and lab tests are also covered.
2. Pre-hospitalisation Expenses- Expenses incurred up to 30 days before getting hospitalised are covered.
3. Post-hospitalisation Expenses- Expenses incurred up to 60 days after discharge are covered.
4. Coverage for Modern Treatments - Modern/Advanced treatments are covered under the policy for the specific illness up to the sub-limit mentioned in the policy clause.

Floater Plan (Gold)

1. In-hospitalisation Expenses - Expenses like room (Single Private AC room), boarding and nursing as provided by the hospital are covered. Other expenses like surgeon’s fee, anaesthetist, medical practitioner, consultants, specialist fee, blood, oxygen, ICU charges, operation theatre charges, medicines and drugs, diagnostic materials and lab tests are also covered.
2. Pre-hospitalisation Expenses - Expenses incurred up to 60 days before getting hospitalised is covered.
3. Post-hospitalisation Expenses- Expenses incurred up to 90 days after discharge is covered.
4. Coverage for Modern Treatments - Modern/Advanced treatments are covered under the policy for the specific illness up to the sub-limit mentioned in the policy clause.
5. Emergency ambulance charges - Emergency ambulance charges up to Rs. Three thousand per policy period for the transportation of the insured to the hospital is applicable.
6. Air ambulance charges - Air ambulance expenses are covered up to 10 percent of the sum insured per policy period (only applicable for sum insured Rs. 1000000 and above).

Why should you buy a top-up health insurance plan?

How does a Top-up Health Insurance Plan work?

To understand the working of top-up policies, you should know two terms one is Deductible & Defined Limit (Aggregate Deductible)

1.Deductible – A deductible is an amount the policyholder agreed to pay for every admissible hospitalisation claim.

2.Defined Limit (Aggregate Deductible) – A defined limit is an aggregate amount of admissible claims the policyholder has agreed to pay during the policy period.

Case Study

If the insured has a top-up policy of the sum insured as 10 lakhs with a 1lakh deductible.

Case study on opting for Top-up with Deductible

Case study on opting for Top-up with Defined (Aggregate Deductible)

Investing in a top-up health insurance plan not only provides financial freedom but also a sense of security, ensuring peace of mind. 

• Cost-effective protection against ever-rising medical treatment costs.
• People who have to pay more than the coverage given by their employer,
• People who have lower coverage under their individual/family cover.
• People who can convert their top-up plan to a regular cover, post-retirement with renewal benefits.
• Tax Benefit under Section-80D
• All premiums paid towards health insurance premiums can be tax–exempt.

Health insurance specialist says the top-up plan is a must to have. For instance, the current pandemic has caused a major financial hardship during hospitalisation. However, buying a top-up plan is much better than exceeding your existing basic health insurance cover at a nominal cost. Top-up health insurance plans are crafted with an idea to provide an additional cover in case your existing policy gets exhausted.

What are the inclusions and exclusions of the policy?

The Super Surplus insurance policy comes with certain inclusions (covered) and exclusions (not covered). They are as follows:

Inclusions

1. The Super Surplus Gold plan offers coverage for maternity up to specified limits.
2. Provides air ambulance cover for up to 10% of the sum insured for more than Rs. 7 lakhs (individual) and 10 lakh (floater).
3. Coverage for organ donor expenses.
4. Coverage for inpatient hospitalisation expenses.
5. Pre- and post-hospitalisation expenses are also covered.
6. Cover for all day-care procedures or treatments (under gold plan).
7. Coverage for pre-existing diseases under the Super Surplus silver plan is 36 months, and specific treatments have 24 months waiting period.
8. Coverage for pre-existing diseases under the Super Surplus gold plan is 12 months, and specific treatments have 12 months waiting period.

Exclusions

The following is a partial listing of policy exclusions. A detailed list of all exclusions is included in the policy document.

1. Any ailment/injury caused due to war, civil war, biological war, etc.
2. Self-intentional injuries like suicide attempts.
3. Costs of Walkers / Wheelchairs.
4. Expenses related to treatment for weight loss surgeries.
5. Cosmetic or plastic surgery expenses unless subjected to an accident.
6. Expenses related to injuries caused by hazardous sports or adventurous activities.
7. Expenses related to change of gender treatments and sexually transmitted diseases.

Top Up Medical Insurance

Top up medical insurance is an extra layer of insurance cover that you can include in your existing health insurance policy. It's a cost-effective method to increase your insurance coverage without having to increase your premium much. 

How is it working?   

• A top-up plan can be used when your medical bills outrun the limit of your primary health insurance.   
• You need to pay a deductible prior to your top-up policy covering any expenses.  
• You could file a claim on your top-up plan for the same hospital bills that you file on your primary health insurance.   

 
Time to Use Top up Medical Insurance

A top up plan acts as a backup to your primary health insurance, and you must not depend on it as your primary cover amount.    

Top up Medical Insurance Benefits

• It can cover medical expenses that exceed the limit of your primary health insurance.   
• It could be affordable than purchasing a new health insurance policy.  
• It can cover expenses such as medication, diagnostics tests, organ donor expenses, and emergency ambulance charges. 

What does a Top-up health insurance Plan offer?

Ready for increasing and dynamic costs of hospitalisation. It is similar to that of any regular health insurance plan. This plan is payable towards treatment expenses for illness or accidents in a hospital or day-care centre. The maximum amount policyholders must pay is deductible before their insurer pays for covered losses. A higher deductible lowers the premium. The waiting period for pre-existing and specified illnesses is 12 months from the policy's inception under the defined limit.

Advantage of top up health insurance plans

Enhanced coverage
A top-up plan allows people to enhance their medical coverage so that they can pay for unforeseen medical expenses even after the sum insured of their base policy gets exhausted.

Lower premium
Top-up health insurance options are made to provide the most comprehensive range of coverage with no compromises and at a cheaper cost, so you won’t need to get fresh health insurance.

Tax benefits

You may get eligible for tax breaks on the top-up policy premium you paid under Section 80D of the Income Tax Act of 1961. The cost of insurance for oneself, one’s spouse, and dependent children might lower your tax obligation by up to INR 25,000.
Senior citizens may enjoy a higher limit of deduction and if you are over 60 years of age, you may claim a deduction of up to INR 50,000.

Coverage for Pre-existing diseases
Generally, health plans do not offer coverage against pre-existing diseases. However, you may supplement your base plan with a top-up that offers coverage for the same. This proves beneficial in case you have a family history of certain illnesses such as hypertension or diabetes.

Tackle rising medical inflation
Medical inflation in India is increasing at an alarming rate of around 20% as compared to 8-9% in the past few years. Thus, investing in a top-up health insurance policy can help you combat such inflation effectively.

How does top up health insurance works?

A top-up health insurance plan offers extra coverage to the existing health insurance policy and helps to cover medical expenses that exceed the sum insured of the regular health insurance policy. The top-up policy works on the principle of the deductible.

The top-up plan allows you to continue accessing quality medical care without worrying about additional costs and offers an opportunity to increase the sum insured at a minimal cost.

How top up plans differ from regular insurance plans?

Top-up health insurance plans cover almost all hospitalization expenses and provide the same benefits as a basic health plan. The only difference is the cost of deductibles that make these plans affordable. Most top-up plans do not require pre-medical screening up to the age of 50 years, which is mandatory after 45 years under most basic health insurance plans.

If your basic health plan reaches the sum insured limit, the claim for both top-up and individual health plans can be filed together. Moreover, you can easily file a claim under both plans simultaneously from insurance providers, who will be liable to pay off part of their claims.

Things covered in Top-up Health Insurance Plan

In-patient hospitalization expenses

In-patient hospitalization expenses, including nursing and boarding charges, room rent, doctors’ fees, OT charges, cost of oxygen, prosthetic devices or implantation of any other equipment during surgery, blood, diagnostic procedures and other similar expenses.

• Pre-hospitalization expenses
• Post-hospitalization expenses
• Day care procedures that do not require hospitalization of even 24 hours
• Organ donor expenses
• Emergency ambulance charges
• Domiciliary treatment expenses

Primary things to look when buying top up insurance

To select an affordable top-up health insurance plan, opt for higher deductibles. Avoid buying an expensive plan to cover exclusions like daily cash allowance and dental cover as they may be covered by your regular health insurance policy.

What are the factors that influence choosing the top medical insurance companies in India? 

There are the top 10 medical insurance companies in India.  When you choose a medical insurance company in India, you can consider factors like:

1. Claim settlement ratio: It denotes the ratio of how well the company settles claims. Select an insurance company with the highest claim settlement ratio. 
2. Coverage: Check if the company offers insurance plans with coverage for critical illnesses, hospitalization, and other treatments.
3. Sum insured: The sum insured is the maximum amount of coverage that the medical insurance policy provides. 
4. Waiting Period: The Waiting Period is the time period after which you will get the insurance coverage. It is the period one must wait before the policy takes effect. 
5. Solvency ratio: The solvency ratio depicts the company's financial stability. 
6. Renewability: Check if the medical insurance company offers policies that can be renewed over time. 
7. Network hospitals: Check if the insurance company you select has a network of hospitals for in-patient and out-patient care. 
8. Critical illness insurance: Check if the insurance company offers a policy that includes coverage for the cost of treatment for critical illnesses.
9. Family floater: Whether the policy covers multiple family members under one sum insured.

What are the factors that influence choosing a top medical insurance? 

When choosing medical insurance, you can consider some factors, such as your needs, coverage, and the insurance provider.   

• Healthcare needs: Check for some factors like your medical history, age, and lifestyle. 
• Medical expenses: Check how many times you need to go to the hospital, consult a specialist, or get diagnostic tests.  
• Sum insured: Choose a medical insurance policy with a high and enough sum insured to meet your health needs.  
• Family history: See if there is a family history of illnesses. 
• Sub-limits: See for limits on room rent and other things. 
• Co-payment: See how much you'll pay out of pocket for particular medical services. 
• Claim settlement ratio: As mentioned above, choose the insurance company with the highest claims. This is because the claim settlement ratio refers to the claims the insurance provider settled compared to how many are received per year.  
• Network of Hospitals: Consider how many hospitals the insurance provider has in your area. 
• Day-care procedures: See if the policy offers coverage for day-care procedures such as cataract surgery.  
• Policy terms: Check for the policy's exclusions, renewal options and other waiting periods.   
• Premiums: Comparitively analyse the premiums of different medical insurance plans. 
• Reviews: Also consider the reviews of the insurance provider.
• Extra Considerations: The cost of medical treatment in India is rising, so a higher sum insured may be wise.  
• Family floater plans: Family floater plans can be affordable as they provide coverage for multiple family members under one sum insured.  
• Cashless claims: See how to make cashless claims and what documentation is required.  
• Lifetime Renewability: See if the health insurance policy can help you avoid purchasing a new policy every few years.   

By considering all these factors, you could shortlist the top medical insurance companies in India. Then, choose the best one out of the top 10 medical insurance companies in India.  After that, choose the best medical insurance policy from the top medical insurance companies in India. 
 

What are the add-on benefits of the Star Super Surplus (Floater) Insurance Policy?

1. Additional coverage

The Star Super Surplus (Floater) Insurance Policy acts as a super top up health insurance that offers additional coverage when your basic health plan gets exhausted. The plan comes with a higher sum insured at an affordable premium.

2. No pre-insurance medical screening

Generally, while purchasing a health insurance policy, a pre-medical examination is requested by the insurer (health insurance company) before the policy is provided to the person. The Star Super Surplus (Floater) Insurance Policy doesn’t require any pre-insurance medical screening.

3. Free E-medical consultation

The exclusive feature “Talk to Star” offered by Star Health is a free consultation line for customers all over India. You can get in touch with our in-house doctors for a free medical consultation over the phone regarding your health conditions.

4. Tax Benefits

Under Star Super Surplus (Floater) Insurance Policy, the premium paid by any mode other than cash is eligible for tax benefit under Section 80D of the Income Tax Act 1961.

5. Free-look period

The policy offers a free-look period of 30 days from the date of receipt of the policy. However, this feature is not applicable for portability, migration and renewals.

6. How to register a claim for the Star Super Surplus (Floater) Insurance Policy?

Star Health offers hassle-free claim settlement for all its customers. There are two ways through which you can file a claim at your convenience.

Top-up Health Insurance is a cost-effective way to have higher medical insurance coverage. Always choose a policy with an aggregate deductible. Do prefer the lowest waiting periods for Pre-existing disease coverage. Beat the medical inflation and bridge gaps under health insurance coverage. The realistic way to increase health coverage for persons covered under corporate, individuals, and families with low insurance cover is to choose a top-up health insurance.

Super Surplus Policy Automatic Expiry

The insurance below this policy with respect to every relevant Insured Person will expire as soon as earlier of the following events : 

• On account of the death of the Policy Holder or the Insured Person. The meaning is that the cover for the surviving members of the family will continue, concerning other terms of the policy.  
• On account of the exhaustion of the sum insured below the policy.

Super Surplus Policy Cancellation

The Policyholder may cancel his Super Surplus policy at any period of time in the term by providing a 7-day written notice. In such a case, the Company may :

1. refund the proportionate premium for the unexpired policy period if the policy term is until one year and no claim has been made during the policy period. 

2. refund the premium for the unexpired policy time period, in respect of policies with policy terms above 1 year and risk coverages for such policy years have not commenced.

The Company might cancel the policy at any period of time on the basis of misrepresentation, non-disclosure of material facts, or fraud by the Insured Person by providing 15 days written notice. Also, there will be no refund of premium on cancellation on the basis of misrepresentation, fraud or non-disclosure of material facts.  

Point to Note: If it is a long-term policy, the refund will be given after adjusting the long-term discount obtained by the insured person/ policyholder.

Change of the Policy 

The insured person has the choice to migrate to the same health insurance product available with the Company during the renewal time with all the accrued continuity.  

Advantages like cumulative bonus and waiting period waiver as per IRDAI guidelines, given the policy, have been maintained without a break.