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Cholamandalam MS Health Insurance Top Up Plans
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Top Up health insurance policies provide you with an additional sum insured when you have exhausted your basic health insurance policy. This plan kicks in whenever you have spent the deductible amount which is specified in your policy. Once that amount is spent, the policy starts working and the policyholder gets a boost in their coverage to complete their medical treatment.
As a conjoint venture between Japan’s Mitsui Sumitomo Insurance Co. Ltd. and India’s Murugappa Group, Cholamandalam MS General offers top-quality general insurance solutions to policyholders all over the nation. The company is known to make the policyholder’s experience good by providing simple and quick processes. With utmost transparency in its policy documents, the company has been recognised as one of the leaders in the current market. The health insurance policies offered by Cholamandalam MS offers basic ambulance and in-patient hospitlisation benefits along with more benefits for supreme policyholders.
Cholamandalam MS health insurance offers a super top-up plan in the name of Chola Super Topup Insurance. This article will go over the details of this top up policy of Cholamandalam health insurance.
Cholamandalam MS Health Insurance Top Up Plan Highlights
Chola Super Topup Insurance Policy offers a comprehensive health insurance top up coverage that meets escalating medical expenditures on an individual or family floater basis. The policy is intended to give additional protection at a low cost. This plan provides claim payment up to the sum insured in addition to the sum declared as the deductible amount. When you top up Cholamandalam health insurance, the policy covers persons aged three months to seventy years old without necessitating any health examinations up to an age limit of 55, and it has a perpetual renewability feature.
The highlights of this policy include:
- Policy is divided into two plans – Premier and Supreme
- Pre- and post-hospitalisation expenses are included
- AYUSH therapy is covered
- Domiciliary hospitalisation is covered
- Day care treatments are covered
Types of Cholamandalam MS Health Top Up Plans
Cholamandalam MS provides a single top up health insurance plan:
1. Chola Super Top Up Insurance
|INR 3-25 lakhs
|INR 1–20 lakhs
|18–70 years for adults
3 months – 18 years for children
Cholamandalam MS Top Up Plan: Key Features and Benefits
Here are the benefits offered by Cholamandalam MS top up plans over other health insurance top up policies.
1. Long-term Cover
If you're currently looking for an insurance plan that provides coverage that lasts a long time, you should consider Cholamandalam Super Top up Insurance. This is because they offer the most affordable premiums in their area of speciality, making you more likely to purchase. Furthermore, the Cholamandalam super top up insurance plan is available for 1-3 years. Because the coverage is accessible for an extended period of time, you won't need to set up several insurance renewal notices or waste days on lengthy waiting times. Furthermore, regular renewals result in higher premiums, which the longer-term assists you save on!
2. High Sum Insured
A high sum insured is one of the most important aspects of an insurance plan. If a policyholder wants to cover the maximum amount in case of a loss, it's wise to go for the Cholamandalam super top-up insurance plan. This plan offers you a high sum insured ranging from INR 3-25 lakhs with the deductible amount ranging from INR 1-20 lakhs. This offers the ultimate flexibility to the policyholders.
3. Medical Check-up is not Mandatory
Pre-acceptance medical screenings are becoming the new norm of health insurance plans. This helps the insurance company determine the optimum premium for their policyholders based on their associated health risk factors. However, with this Chola super top up insurance policy, you are exempt from medical exams until the age of 55. If you obtain this supplementary coverage sooner rather than later, you can easily avoid the waiting time and potentially pay reduced prices for your plan.
Cholamandalam MS offers multiple discounts on their health insurance plans, including Chola Super Top up Insurance Policy. If the policy includes 3 to 5 insured individuals, there is a 5% discount on the premium. In the same way, there are 7% and 10% discounts on 6 to 7 members and more than 7 members, respectively. Again, if you opt for a long-term insurance plan, there are significant discounts. For 2-year plans, the premium is discounted up to 6%, and for 3-year plans, the same is increased up to 12%. Other than this, Cholamandalam MS offers a 10% discount if the insurance policy is bought directly from it via offline or online means.
5. Tax Benefits
Section 80D of the IT Act offers a tax benefit of up to INR 25,000 to policyholders who are below the age limit of 60 years. The same is increased up to INR 50,000 for senior citizens who are over the age of 60 years. Both scenarios include an INR 5,000 preventive healthcare check-up tax break.
Inclusions of the Cholamandalam MS Health Insurance Top Up Policy
Chola Super Top up Insurance includes the following coverages:
- In-patient hospitalisation
- Emergency ambulance expenses cover
- Day care treatment
- Domiciliary hospitalisation
- AYUSH therapy cover
- Pre-hospitalisation medical expenses (60 days) (for Supreme policyholders)
- Post-hospitalisation medical expenses (90 days) (for Supreme policyholders)
Exclusions of Cholamandalam MS Health Insurance Top Up Policy
As with any other health insurance plan, Cholamandalam MS health insurance top up policy has a set of exclusions which they do not cover. The following list is a summary of the same:
- Diseases within the 30-day initial waiting term
- Diseases within their respective waiting terms
- Pre-existing diseases within their waiting terms
- Self-harm or attempted suicide
- War-related injuries or illnesses
- Immunisations and vaccination or inoculation (other than post-bite treatment cases)
|Individual / Family floater
18 years for adults
3 months for dependent children
70 years for adults
25 years for dependent children
|1, 2, 3 years
How to Buy Cholamandalam Health Top Up Policy?
This is a step-by-step breakdown of the purchasing procedure of Cholamandalam health insurance top up plans:
- To start off, visit the Paytm Insurance website.
- Click on ‘health insurance’ from the available insurance types.
- Select the health insurance provider of your choice from the drop-down list.
- Complete the short questionnaire and click on ‘proceed’.
- Input your current age and local pin code.
- A new webpage full of health insurance that is available to you will appear.
- Compare and contrast the insurance plans and purchase the one that best suits your budget and requirements.
Things to Consider When Buying Cholamandalam Health Insurance Top Up Plans
Here are the things you need to keep in mind when shopping for Cholamandalam health insurance super top up plan:
1. Insured Sum
One of the best features of Cholamandalam health insurance super top up plan is that it provides a huge range of sum insured from INR 3 lakhs to INR 25 lakhs. So, it is important to choose the sum insured as your deductible amount as well as the premium amount will rise with it.
2. Deductible Amount
The sum you need to spend in order for the top up insurance to kick in is called the deductible amount. In this case, the deductible amount ranges from INR 1-20 lakh. The amount changes with the change in the sum insured, so it is important to consider when buying the policy.
3. Policy Term
Cholamandalam MS health insurance promotes long-term insurance coverage by offering discounts on their 2 and 3-year plans. For 2-year plans, the premium is discounted up to 6% and for 3-year plans, the same is increased up to 12%. So, you need to keep this in mind when buying the policy either for yourself or your family members.
4. Number of Insured
Cholamandalam health insurance top up plans can be bought on both individual and family floater sum insured basis. But there are discounts associated with the number of insured covered under each plan. If the policy includes 3 to 5 insured individuals, there is a 5% discount on the premium. In the same way, there are 7% and 10% discounts on 6 to 7 members and more than 7 members, respectively.
Cholamandalam MS Health Insurance Top Up Plans FAQs
1. Is pre-acceptance medical screening necessary to buy Cholamandalam health top up plan?
Pre-acceptance medical tests are not required for customers under the age of 55 years. For people who are 55 years old or above, a medical test is mandatory before policy acceptance.
2. Can I buy a top up policy for my family living in another state?
Yes. You can buy a top up policy for my family living in another state. Please contact the company for further details.
3. What is the minimum age requirement to be eligible for the Cholamandalam health top up plan?
The minimum age requirement to be eligible for the Cholamandalam MS top up plan is 3 months for dependent children and 18 years for adults.
4. Does Cholamandalam health top up plan cover domiciliary treatment expenses?
Yes. Cholamandalam health top up plan covers domiciliary treatment expenses.
5. How to intimate a Cholamandalam health top up plan claim?
Intimate a Cholamandalam MS top up plan claim by visiting the website and navigating to the ‘claims’ section. There, you need to select ‘health insurance claims’ and then click on ‘Intimate a claim’. All there’s left for you now is to provide your policy number and date of birth. Once done, you can confirm the policy details to finish your claim intimation process.
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