Family Health Insurance

The daily hospital cash policy provides a fixed amount for each day that you are hospitalized. The daily limit is fixed at the time of enrollment for the policy and would remain the same for the duration of cover. The policy pays a fixed benefit for each day of hospitalization irrespective of the actual medical costs incurred in treatment.

 

This policy can be taken as a standalone cover or as an add-on to the health insurance policy to take care of incidental expenses in case of hospitalization. Though your health insurance policy will cover a major part of the expenses when you are hospitalized, expenses for consumables, diet, vitamins and tonics, etc. which are termed as non-admissible expenses have to be borne by you. These incidental expenses can be set off through a daily cash policy.

 

An important point to note is that daily hospital cash benefit will kick only if there is a valid hospitalization claim (IPD) for min. 24 hrs. or prescribed day-care treatment as per insurer’s list. To claim for this benefit one does not need to submit supporting bills, only a discharge summary that mentions the date of admission and discharge is sufficient.

 

On average daily hospital cash benefit is available for 30 to 45 days in a policy period. However, it varies by insurer and policy. In case your hospital cash benefit has 30 days limit, you are eligible to receive daily hospital cash for 30 days. Even if the hospitalization period is > 30 days, the insurer’s liability under this policy will be up to the daily cash limit for 30 days.

 

The daily limit in a hospital cash policy ranges from INR 500 per day to INR 10,000 per day. Owing to the fact that ICU expenses are higher, some policies offer a double limit on daily cash benefit in the benefit structure if the insured is admitted to an ICU.

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