Why we purchased United India Super Top Up Policy with 95 lakhs sum insured

Published: September 18, 2022 at 6:00 am

Last Updated on September 18, 2022 at 6:19 pm

United has recently made significant changes to its Family Medicare Policy and Super Top-Up Medicare Policy. I discuss why we purchased the revised top-up cover with Rs. 95 lakhs sum insured in this article. If you are looking to buy base or super top-up health insurance, this may be useful: Select the right health insurance policy with these free resources.

Warning: The following is not a recommendation of United India health insurance policies. Please select one as per your personal circumstances.

In Sep 2021, we reported the New features introduced in United India Insurance Family Medicare Policy. The most significant change is the In-patient Hospitalisation Expenses Cover for a sum insured of Rs. 5 Lacs and above comes with “1% of Sum Insured or Single Occupancy Standard AirConditioned Room Charges whichever is higher”.

This effectively means no room rent sub-limit for a single, standard AC room.  Also, there is no limit on ICU rent. The maximum sum insured has been revised from Rs. 10 lakhs to Rs. 25 lakhs. These are welcome features in a PSU insurance policy. The biggest criticism of PSU policies has been removed by these changes in my opinion.

Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥

So last year, I revised the cover for myself, my wife and my son to Rs. 25 lakhs. This is an individual cover. The latest costs are listed below.

The above changes are only for the family medicare policy. The individual health insurance policy was not yet revised at the time of writing.

United India also removed the room rent limits on their Super Top Up plans by then. In Feb 2022, they launched a revised Super Top Up Cover with Rs. 95 lakhs sum insured. The key changes are:

  1. There are no room rent or ICU rent sub-limits.
  2. The revised sum insured and threshold limits (aka deductible in brackets) are given below.
    •  3 Lacs, 5 Lacs (2 Lacs)
    •  3 Lacs, 5 Lacs, 7 Lacs (3 Lacs)
    •  5 Lacs, 10 Lacs, 15 Lacs, 20 Lacs, 45 Lacs, 70 Lacs, 95 Lacs (5 Lacs)
    • 10 Lacs, 15 Lacs, 20 Lacs, 40 Lacs, 65 Lacs, 90 Lacs (10 Lacs)
    • 15 Lacs, 35 Lacs, 60 Lacs, 85 Lacs (15 Lacs)
    • 20 Lacs, 30 Lacs, 55 Lacs, 80 Lacs (20 Lacs)
    •  25 Lacs, 50 Lacs, 75 Lacs (25 Lacs)

New Policy Names: (links point to policy wording pdf files).

Our United India policy: We have held this policy from 2006 onwards and processed five claims: thrice for my mother, once for me and once for my son. The claim processing experience has been smooth to combative (complaints to United’s grievance portal are handled reasonably fast).

Over a lifetime, we are liable to make many claims for our family, and we should know how to fight our case. Yes, the guy who sold the policy will say he will help you process claims, but it is naive to believe such deal-closers.

One lesson I have learnt the hard way is always opt for cashless if the admission is in a network hospital. Try to get admitted to a network hospital when possible.

I fully appreciate that not everyone can afford the high premiums mentioned below. Health insurance purchase is primarily governed by affordability.

Why we increased the base policy to Rs. 25 lakhs even though the super top-up has a deductible of only Rs. 5 lakhs?

  • To reduce the chance of invoking the top-up policy. Top-up policy claim processing is a pain, even from the same insurer.
  • With Rs. 25 lakhs, we can opt for a comfortable single room (better than a standard ac room) as per the  “1% of Sum Insured” clause.

Why we increased the super top-up to Rs. 95 lakhs: Unlike the base policy, which is an individual cover, this is a floater cover. So the higher, the better. Also, the cost will not be too high since Rs. 5 lakh is deductible.

Insurance details:

All costs include GST and no claim discounts.  The enhanced United Super Top cover begins on 1st Nov 2022. The annual recurring deposit meant for paying premiums matures in September each year so the renewal is made then.

  • Group health insurance offered by employer Rs. 3L. It can be enhanced up to 7L, but I chose not. We have made one claim with it – pregnancy which United does not cover.
  • United Family Medicare: Rs. 25L each for myself (age 48), my wife (age 46) and my son (age 12). Total cost: Rs. 68,007/-
  • United Family Medicare: Rs. 6L for my mon (aged 75): Rs. 43,986/-
  • United India Super Top Floater: Rs. 95 Lakhs with Rs. 5 lakh deductible (threshold) for myself, my son and my wife. The premium is Rs. 24,163
  • United India Super Top Floater: Rs. 15 lakhs cover with Rs. 5 lakhs deductible. The premium is Rs. 14,868
  • Notice the difference in cost due to my mom’s age.
  • In addition, before the above changes from United, I got a base and super top-up policy for my wife and son with no room rent limits from private insurers: See: Why we purchased a 2nd set of base & super top-up health insurance policies.
  • Future Generali Health Total Plan for 10 Lakhs for wife and son with a voluntary deductible of Rs. 50,000. Total premium: Rs. 11,500.
  • Liberty Health Connect Supra Super top-up policy for one crore (floater)with a 10 lakh deductible. Premium is Rs. 1400. We will continue these two policies just in case.

Caution: Do not get enticed by the low premiums private players offer, especially for top-up plans. Their market share is low, and their claims history is also low. As they sell more policies, they will pay out more claims, incur more losses and hike the premiums for everyone. Star Health is a good example of this. See: How to get claim settlement ratio for health insurers?

It may be far from rational, but I deeply distrust private insurers and ever deeper distrust of all agents. Therefore, I would rather pay a higher premium to an insurer that pays out many claims (PSU typically pays out more than the total premiums received each year).

Many readers have asked, “Is this not a bit too much premium to pay? Are you not making a song and dance about health insurance?” Hospital bills are one of the biggest net worth destroyers. So the goal is to protect our net worth by spending a fraction of it (or a fraction of annual income). When you see things from the right perspective, most expenses look diminutive. What is expensive or not expensive is a point of view.

Do share this article with your friends using the buttons below.

🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
Follow Freefincal on Google News
Follow Freefincal on Google News
Subscribe to the freefincal Youtube Channel. Subscribe button courtesy: Vecteezy.
Subscribe to the freefincal Youtube Channel.
Follow freefincal on WhatsApp Channel
Follow freefincal on WhatsApp
Podcast: Let's Get RICH With PATTU! Every single Indian CAN grow their wealth! 
Listen to the Lets Get Rich with Pattu Podcast
Listen to the Let's Get Rich with Pattu Podcast
You can watch podcast episodes on the OfSpin Media Friends YouTube Channel.
Lets Get RICH With PATTU podcast on YouTube
Let's Get RICH With PATTU podcast on YouTube.
🔥Now Watch Let's Get Rich With Pattu தமிழில் (in Tamil)! 🔥
  • Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
  • Have a question? Subscribe to our newsletter using the form below.
  • Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.

Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!

About The Author

Pattabiraman editor freefincalDr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.
Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free!  One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course!  Increase your income by getting people to pay for your skills! More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!   
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Both boy and girl version covers of Chinchu gets a superpower
Both the boy and girl-version covers of "Chinchu Gets a superpower".
Most investor problems can be traced to a lack of informed decision-making. We made bad decisions and money mistakes when we started earning and spent years undoing these mistakes. Why should our children go through the same pain? What is this book about? As parents, what would it be if we had to groom one ability in our children that is key not only to money management and investing but to any aspect of life? My answer: Sound Decision Making. So, in this book, we meet Chinchu, who is about to turn 10. What he wants for his birthday and how his parents plan for it, as well as teaching him several key ideas of decision-making and money management, is the narrative. What readers say!
Feedback from a young reader after reading Chinchu gets a Superpower (small version)
Feedback from a young reader after reading Chinchu gets a Superpower!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.
Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
Our publications

You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingPublished by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantThis book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.

Your Ultimate Guide to Travel

Travel-Training-Kit-Cover-new This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)