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Hospital Cash Insurance Policy for Individual to Daily Hospital Cash Insurance Policy

Premium Starts @ 799

(Excluding Taxes)

Premium Starts @ 799 excluding Taxes
Benefits
Fixed benefit for each day of hospitalization irrespective of actual medical costs
Use it for additional uncovered expenses eg. attendant charges, travel & food expenses
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Hospital Cash Insurance Policy for Individual

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Quick Guide to Hospital Cash Insurance Policy for Individual

Daily Hospital Cash Insurance

Daily hospital cash is a type of insurance plan that provides a specified amount of cash for hospitalisation expenses on a daily basis. This daily cash entitlement you receive under the hospital cash benefit is fixed, irrespective of the medical expenses that you incur. This daily cash entitlement is decided at the time of commencement of the policy, there are many hospital cash insurance plans you can choose from that offer a wide range of daily cash covers, starting from 500 to 5000 every day. This hospital cash benefit assures you of prompt financial assistance exactly when you need it the most and it is paid directly to you.

What is Daily Hospital Cash Insurance Policy?

Hospital Cash Insurance, in simple words, is an insurance policy that provides a fixed sum insured for each day of hospitalization of more than 24-hours. It is a fixed daily amount that is paid to the policyholder as allowance to meet miscellaneous expenses during the period of hospitalization.

The daily hospital cash benefit is usually provided in a basic plan or can be purchased as an additional cover. Some health insurers also provide a separate hospital cash insurance plan. Moreover, the daily hospital cash benefit is doubled in case of ICU admissions.

Features and benefits of Daily Hospital Cash Insurance Policy

With Daily hospital cash benefit the insured can pay for the medical expenses that are not covered under a comprehensive health insurance plan, and meet the extra expenses incurred during the hospitalization.

The daily hospital cash benefit amount is a fixed amount paid to the policyholder. If the actual cost is lesser than the daily benefit limit, then the insurer will not ask for any extra amount.

For instance, the coverage limit in a hospital cash plan is Rs. 800, and the actual expense is Rs 500 then also the insurer will pay the amount equal to Rs. 800. So, the daily hospital cash rider works as a cushion for the policyholder during the hospitalization.

What is Covered under Daily Hospital Cash Insurance Policy

Although your regular health plan covers your most of your expenses when you are hospitalized, some expenses are not covered by your health plan. These uncovered expenses are called inadmissible expenses and include things like surgical accessories, X-Ray charges, expenses incurred by accompanying family members, etc. Here the daily hospital cash benefit will kick in without asking for any supporting bills. The only proof required to avail this benefit is a valid hospitalization of at least 24 to 48 hours. However, this benefit gets decline, if the hospitalization becomes inadmissible,

A daily hospital cash benefit provides a lump sum amount daily in case of hospitalization and this amount can be used as per the insured’s need. The allowance can be used for meeting additional expenses that are not covered by regular health plan or for even compensating the loss of income during the period of hospitalization.

What is Not Covered under Daily Hospital Cash Insurance Policy

Though Daily Hospital Cash policy helps you with a wide range of benefits associated with daily hospital cash policy, there are a few things that are not included in this hospital cash plan.

  • In the case of diagnosis of HIV/AIDS of any severity and its complications, this daily hospital cash benefit will not offer any amount towards the expenses occurred due to the same illness.
  • The pregnancy-related complications and treatment will not be covered under a hospital cash plan.
  • You are not entitled to receive daily hospital cash in any case of suicide or drug abuse.

Document required for Daily Hospital Cash Insurance Policy?

Following documents are required for the daily hospital cash:

  • Proof of admission/hospitalization with the duration of stay
  • Discharge summary for the hospital, for admissibility of claim

Coverage Limit Under Daily Hospital Cash Insurance Policy

The coverage limit under the daily hospital cash benefit policy can be a minimum of Rs 100 and goes up to a maximum of Rs 10,000. However, this will vary on your health insurance plan and also the health insurance company, as there is no fixed limit.

Why Buy Daily Hospital Cash Insurance Plan

Daily hospital cash insurance is a health insurance benefit that offers a daily lump sum allowance to the insured during the hospitalization. The money can be utilized to meet the additional expenses that regular health plan does not cover for compensating any loss of income during the hospitalization period. These uncovered expenses are called inadmissible expenses and include things like surgical accessories, X-Ray charges, expenses incurred by accompanying family members, etc.

How to claim Daily Hospital Cash Insurance Policy?

Cashless claims

  • At the time of admission authorization will be given for which you will have to produce your health card and/or policy document.
  • At the time of discharge, you will be required to pay only the deductible amount and the remainder amount will be settled between the hospital and insurance company.

    Tenure of Hospital Daily Cash Benefits

    The tenure or admissible days under Hospital Daily Cash policy varies from one insurer to the another and on type of plan you have opted for. It generally ranges from 15 days to 180 days depending on the plan, premium paid and terms agreed with the insurer. Below table shows some of the best hospital cash insurance plans from the top insurers in India:

    Aditya Birla Activ Assure Diamond Health Insurance ( in-built benefit)Rs 500 For 5 consecutive days
    Bajaj Allianz Hospital Cash Benefit PolicyRs 500 to Rs 2500 30 days & 60 days
    Bharti AXA Health Insurance Plans (Optional Cover)Rs 500 to Rs 25000 up to 45 days
    Cholamandalam Hospital Cash Insurance PlanRs 1000 to Rs 300020-25 days
    Care Health Insurance Plans (Add-on cover)Rs 799 to Rs. 1999 Up to 30 days
    Reliance Health InsuranceRs 450 Up to 30 days
    Future Generali Hospital Cash PlanRs 500- Rs 9000 30, 60, 90, & 180 days

    Frequently Asked Questions

    A daily hospital cash policy or a daily hospital cash plan can be part of your basic health insurance plan or can also be purchased as an additional cover. A daily hospital cash insurance provides a fixed lump sum amount, to the insured, for each day of hospitalization beyond 24 hours.
    A hospital Cash rider is a major health insurance rider. It provides a fixed benefit, to the assured, in case of a hospitalization. The rider provides a fixed amount for each day of hospitalization as well as ICU benefits. Hospital Cash riders can also provide a lump sum benefit on undergoing a surgery (as part of an individual policy).
    A hospital cash can act as a cushion for your additional expenses that incur during a hospitalization. It is a fixed sum that you are provided for your hospitalization case, so having a hospital cash rider along with your health insurance policy can prove beneficial for your finances. But it not necessary to have a hospital cash policy if you have a health insurance policy and if you are ready to bear out-of-pocket expenses for some of the expenses that aren’t covered.
    A health insurance policy is like an umbrella policy that covers for your medical expenses (with certain exclusions), up to a sum assured, for your hospitalization of more than 24 hours. While a hospital cash insurance policy provides you with a fixed sum assured for the duration of your hospitalization (for more than 24 hours) irrespective of the cause and expenses incurred during the hospitalization. Hospital cash insurances can be taken as riders along with your health insurance plans or bought as individual products to safeguard your health.
    It is a fact that ICU expenses are far higher than other medical care units. So, health insurers usually double the hospital daily cash benefit amount if the insured is admitted in an ICU. For example, if the daily hospital cash in a regular room under your policy is Rs.2000, when admitted in an ICU that will become Rs. 4000.
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