ManipalCigna Health Insurance Company Limited, a joint venture between Manipal Group, an eminent player in the field of healthcare delivery and higher education, U.S. based global health service leader, Cigna Corporation (NYSE: CI), and Indian conglomerate TTK Group, today announced the launch of  'ManipalCigna Super Top Up' health insurance plan. The product is specially designed to suit an individual's and a family's additional healthcare needs especially in times when medical expenses are getting beyond everyone's reach. Keeping in mind the growing high medical inflation rate; the company has introduced a unique solution for people looking to 'top-up' their existing individual plan or a mediclaim from the employer at a nominal cost.

Speaking about the product launch, Mr Prasun Sikdar, Managing Director and CEO, ManipalCigna Health Insurance Company Limited said, "With health care costs on the rise, the existing health insurance coverage may not be adequate and buying a health insurance cover with a large sum insured may not be affordable. Thus, to ensure that quality healthcare remains accessible and affordable to our customers in the long term, we have launched our easy on pocket 'Super Top Up' health insurance plan to deliver enhanced safety net of coverage and to take care of the rising health care cost, so that more people will be able to enjoy a more secure future."

Hospitalisation is a testing time for all and looking at the soaring healthcare costs, ManipalCigna's 'Super Top Up' plan covers medical expenses for in-patient hospitalization with a choice of any room category without paying much. Pre and post hospitalisation are also both critical phases and might be ignored due to the paucity of finances. With the Super Top Up plan, the company gives full uncompromising health care up to 60 days before and up to 90 days after hospitalization. Today, with technological advancement in medical science, some of the most advanced surgeries are now covered under daycare treatment, this is where the Super Top Up plan becomes handy as it covers medical expenses for the treatment or surgery that requires less than 24 hours of hospitalisation. Medical bills and other incidental expenses can drain people's finances during hospitalization. Thus, to ease the financial burden, this Super Top Up covers non-medical expenses and Donor expenses, as incurred by the organ donor for undergoing organ transplant surgery.

ManipalCigna's 'Super Top Up' plan comes with varied sum insured and deductible options to choose from. Moreover, to help customers manage insurance expenses, the plan also provides a family discount of 10% for covering 2 and more family members under the same individual policy. There's also long-term discount of 7.5% and 10% on a 2-year and 3-year policy tenure respectively. There is an additional Online Renewal Discount of 3% p.a. from first renewal onwards if the premium is received through NACH or Standing Instruction (where payment is made either by direct debit or bank account or credit card).

Considering the growing medical inflation, one sure does not want that extra burden turning their world upside down. Which is why, the plan provides guaranteed additional Sum Insured as Bonus at the time of renewal, irrespective of claim in the expiring policy. The cumulative bonus will accumulate a maximum of up to 50% of the Sum Insured. The plan also has an option to reduce pre-existing disease waiting period to 24 months since inception of the policy and shall be applied to all insured persons covered, so the policyholder stays worry-free when it comes to their and their family's current and future healthcare needs.

Everyone can't afford to buy sufficient health cover. For such individuals, ManipalCigna's 'Super Top Up' plan is an excellent way to increase the cover while keeping costs in check. The plan also offers a smart option of Guaranteed continuity on deductible benefit for person aged below 55 years at the inception of the policy. If selected, from 5th policy year onwards, the insured will have a choice to opt for a separate base policy (available with ManipalCigna), with guaranteed continuity on waiting periods. No fresh risk assessment shall be done for Sum Insured up to the deductible amount opted under ManipalCigna Super Top Up. Coverage under existing Top Up policy will continue subject to renewal (waiting periods here means initial waiting period, specific illness waiting period and pre-existing disease waiting period of base policy).

For example, let's say, one has an Employer's Mediclaim policy for Rs. 5 lacs and also a Top-up Health cover for Rs 10 lacs with an annual aggregate deductible limit (threshold limit) of Rs 5 lacs.

Suppose there is a single claim for Rs. 3 lacs and the employer-provided mediclaim policy pays Rs. 3 lacs. Say in the same policy year, another hospitalization occurs resulting in a claim of Rs. 10 lacs. The employer's mediclaim cover will pay the balance of Rs. 2 lacs and the remaining claim amount of Rs 8 lacs can be covered by the Top-up policy (as the Deductible limit of Rs. 5 lacs is exhausted with aggregate claims).

The increase in additional coverage through a regular health insurance plan (say Sum Insured of Rs. 10 lacs for healthy male aged 45 years residing in Mumbai) ranges from Rs.12,000 to Rs.15,000 (including taxes) for a policy tenure of 1 year, whereas ManipalCigna Super Top Up plan provides an opportunity to triple (existing 5 lacs and additional 10 lacs as sum insured) the coverage where a cover of Rs.10 lacs with a deductible of Rs. 5 lacs for a premium of Rs.1,640 (including taxes) is offered to the same individual. A Top Up policy helps one increase the coverage at an affordable premium.