Royal Sundaram Hospital Cash Insurance Plan
Royal Sundaram Hospital Cash Insurance Plan is a supplement to the health insurance policy, expenses like – charges for patient’s diet, patient’s attender’s lodging, money spent on commuting from home to hospital and back can be taken care under this plan.
Key Features
Under section 80D of Income Tax Act.
Benefits
From Rs. 500 to Rs. 1000 per day of hospitalization exceeding 24 hours, for up to 180 days.
- Up to Rs. 1000/- per day of hospitalization, for up to 180 days.
- Cash benefit up to Rs. 2,000 per day of hospitalization for up to 21 days, if hospitalization is due to an accident.
- If the person is admitted to ICU, cash benefit is tripled up to Rs. 3,000 per day of admission into ICU (Intensive Care Unit) for up to 21 days in excess of first 24 hours.
- If hospitalization exceeds 21 days, a lump sum of up to Rs.7,500/- to Rs. 15,000/ will be paid to family member under Convalescence Benefit, once during the policy period.
- This cover is applicable for 180 days during the policy tenure
On insuring 3 members under the same plan
Can be stored and accessed online
For any solicitation/further details of the plan.
If the policy holder is not convinced with the terms and conditions of the policy, s/he can cancel the same within 15 days of the receipt of policy document.
How it works
Under this plan, life insured + spouse + dependent parents and children from the age of 1 year to 65 years respectively can be covered, the policy can be renewed lifelong. Life insured gets discount of 10% on total premium if s/he covers 3 or more family members under the same policy. The plan offers, daily cash benefit on hospitalisation (exceeding 24 hours) from Rs. 500 per day to Rs. 1000 per day, for a period of up to 180 days. The plan comes with 2 variants - Gold and Silver
How does the variants work? Illustrated below:-
| GOLD | |||
| Benefits | Pay-out (in Rs.) | Age of insured (in years) | Premium (in Rs.) |
| Illness Hospital Confinement | 1000 per day | 1 to 45 | 1522 |
| Accident Hospital Confinement | 2000 per day | 46 to 60 | 2334 |
| Intensive Care Benefit | 3000 per day | 61 to 65 | 3145 |
| Convalescence Benefit | 15000 lump sum | 66 and above (applicable for renewals only) | 3145 |
| SILVER | |||
| Benefits | Pay-out (in Rs.) | Age of insured (in years) | Premium (in Rs.) |
| Illness Hospital Confinement | 500 per day | 1 to 45 | 812 |
| Accident Hospital Confinement | 100 per day | 46 to 60 | 1218 |
| Intensive Care Benefit | 1500 per day | 61 to 65 | 1623 |
| Convalescence Benefit | 7500 lump sum | 66 and above (applicable for renewals only) | 1623 |
Exclusions
A few important exclusions are:-
- Pre-existing diseases
- Disease contracted during the first 30 days of commencement of policy
- Certain treatment/diseases/procedures during first year of policy such as: Congenital Internal Diseases, Cataract, Benign Prostatic Hypertrophy Hysterectomy, Knee / Hip Joint replacement. These are covered from subsequent renewals
- Pregnancy and related complications
- Plastic surgery or any surgery undertaken for aesthetic purpose
- Suicide or any damage inflicted to self
- Treatment of obesity or other weight control programs
- Hospitalisation in an Ayurvedic/Homeopathic hospital
- Please refer policy terms and conditions for complete list of exclusions
FAQs
What is Hospital Cash Insurance?Hospital Cash Insurance gives you a daily benefit for every 24 hours of hospitalisation. The coverage commences after the first 24 hours of admission. The cash benefit, depending on the plan, ranges from Rs.500/day to Rs. 1000/day for up to 6 months. Other benefits of the policy are:
Double Accident Benefit - Cash benefit is doubled if the person is hospitalised due to an accident for 21 days
- Triple Accident Benefit - Cash benefit is tripled if the person is admitted to ICU (Intensive Care Unit)
- Lump sum cash benefit - A lump sum amount, as per your policy, will be paid if the hospitalisation exceeds 21 days
- Double and Triple benefits are applicable only after 24 hours hospitalisation.
What is the different between Hospital Cash Insurance and Health Insurance? Health Insurance reimburses inpatient hospital bills. Hospital Cash offers fixed daily benefits, per 24 hours spent in hospital. This is aimed in covering the incidental expenses during hospitalisation which are normally not covered under health insurance. Hospital Cash Insurance is NOT a substitute of Health Insurance, rather it acts as a supplement.
What is the procedure to make a claim?To make a Claim, one needs to notify customer support of the insurer about hospitalisation, they will forward the Claim Form. The claim form needs to be submitted with the requisite documents within 10 days from the date of discharge.
How will the cash be paid? How frequently will it be paid?This Insurance plan includes cash benefit. The payment will be made by way of cheque for period of hospitalisation found admissible after receipt of Claim Form, which is to be submitted within 10 days after discharge. Convalescence benefit, if applicable shall also be paid along with the claim settlement.
If I am hospitalised on 10th June and discharged on 20th June, how many days will be covered by the Policy?Every completed 24 hours shall be counted as a day. Hence the time of admission and time of discharge are crucial to decide on count of days for claim settlement. If you had got admitted at 5 p.m. on 10th June and got discharged at 10 a.m. on 20th June, then 9 days of hospitalisation shall be considered for claim admissibility.
Do I need a Health Insurance Policy to avail Hospital Cash Insurance?No, you need not have a Health Insurance Policy to avail Hospital Cash Insurance. However it is prudent to cover your loved ones and let not medical expense affect your saving
Does Hospital Cash Insurance cover day care treatment?No
I travel abroad frequently. Will this policy give daily cash benefits overseas?Hospital Cash Insurance covers treatment availed only in India.
