With coronavirus outbreak intensifying with each passing day, it is important to be financially protected. The spread of the disease is so rampant that it can put all the family members’ health at risk. Buying health insurance cover has hence become essential.

Live TV

Loading...

Health insurance is also important for it provides with a much needed financial backup at times of medical emergencies.

However, considering the current situation in which most sectors are either experiencing layoffs or pay-cuts, buying a health insurance cover with a great sum insured might be difficult.

(Also read: Here's how coronavirus crisis has transformed the insurance industry)

"Given the situation, if one gets infected with the COVID-19, the treatment for the infection may drain all the savings, which means it's important to have an insurance. However, if somebody is facing a liquidity crunch, it is better to buy a health insurance cover with sufficient sum insured right now and later when the financial situation gets stable one can enhance the cover by investing in a super-top plan," explains Amit Chhabra, Head-Health Insurance, Policybazaar.

Also read: Why it is the right time to buy an insurance

Super top-up plans are precisely designed to enhance the health insurance coverage of the existing health care plans. This add-on can be bought to upgrade the total sum assured of the base plan.

"The plan acts as a cushion and comes in to play when the policyholders have exhausted the chosen limit. A super top-up plan compensates for all the expenses exceeding base cover for one-time hospitalization," Chhabra adds.

First Published:May 8, 2020 6:45 AM IST