General Knowledge · Health Insurance Products
In the design of retail Health Insurance products, which feature represents the fundamental operational difference between 'Top-up' and 'Super Top-up' plans regarding how the deductible is applied?
- 1Super Top-up plans allow the customer to carry forward or pay the deductible in monthly installments, while Top-up plans require the entire deductible to be paid upfront at the hospital.
- 2Top-up plans are strictly limited to individuals below forty-five years of age, whereas Super Top-up plans have no upper age limit restriction under IRDAI guidelines.
- 3A Super Top-up plan considers the cumulative aggregate of all hospitalization expenses in a policy year against the deductible, whereas a standard Top-up plan applies the deductible to each individual hospitalization event independently.✓
- 4A Top-up plan considers the aggregate of all hospitalization expenses incurred within a single policy year against the deductible, whereas a Super Top-up plan evaluates each claims event individually.
Correct answer
A Super Top-up plan considers the cumulative aggregate of all hospitalization expenses in a policy year against the deductible, whereas a standard Top-up plan applies the deductible to each individual hospitalization event independently.
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