Medical emergencies can be unforeseen and sudden which also means that it causes a sudden financial blow on an individual and his/her family. For some it may be more than a financial burden to cover for the cost of treatment. Additional support may be needed for the expenses incurred in the hospital on a daily basis. This is when having a hospital cash cover can be a relief for not just you but also for your family.
To understand what this hospital insurance implies here is a simplified version of what Bajaj Finserv’s Hospital Cash Benefit insurance includes. A hospital cash coverage is the daily fixed allowance given for each 24 hours of hospitalization to the policy holder in case he/she is hospitalized. This sum is given based on the terms of the policy for any miscellaneous expenses incurred within the day.
There are separate claws for different times of treatments/conditions. For instance, in case an incurred individual is admitted in an Intensive Care Unit (ICU), the daily fixed allowance is doubled. Also, in case the term of hospitalization exceeds the stipulated time period (for instance 20 days in most cases but this may differ based on the insurance provider you choose), then a recuperation benefit amount is given in lump-sum. While there are several benefits of having this policy in place, we have outlined five top benefits of having Bajaj Finserv’s Hospital Care Insurance.
Also read: What Happens During A Dental Implant Procedure?
Some of the Benefits and Features of Hospital Cash Insurance Cover:
- Daily Cash Allowance: A pre-decided sum is paid to the policyholder for the number of the days that the person has to stay in the hospital for treatment and care. This length of the time for which the cover will be provided can vary from insurer to insurer. The cash provided is to ease the financial burden on the insurer and his/her family. Hence, by paying easy premiums you can avail benefits that give you and your family a feeling of safety and financial security.
- Extra Care on ICU Admission: In case the insure individual is admitted in an ICU, additional cash benefits become applicable to ensure better care of the patient. Some insurers may double the benefits while other may opt to enhance the payouts for the number of days that the insured individual spends in the ICU.
- Both Individual and Family Plans to Offer Better Coverage: The hospital cash insurance plan can be availed for both an individual and his/her family. The adults are offered 100% of the sum insured and the children are given 50% of the sum insured. One can chose based on his/her preference from the various plans available. However, it is always necessary to read the insurance policy’s terms and conditions carefully before buying it.
- Eligibility Age: The general age for adults is between 18 to 65 years while that for children is 2 to 21 years. In case you fall under this bracket you can easily apply for the daily cash benefit in health insurance.
- Cash Benefits: Once the claim is admissible the cash benefits easily help you run your daily errands with the daily cash provided under the policy terms.
Additionally, one must keep several other in mind before raising a claim. The daily cash benefit in hospital cash cover is not applicable in cases-
- Documentation from the hospital is not complete
- Hospitalization that occurred as a result of influence of drugs or alcohol
- Hospitalization because of cosmetic surgery or procedures
- Hospitalization because of weight loss treatments
