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Posted by Royal Sundaram on 28 Dec 2010

Royal Sundaram’s – Hospital Cash Online!

Let the first change, as the date changes, be better cover for your family. Hospital Cash Online is a supplement to Health Insurance. It takes care of incidental expenses like special diet, commuting to the hospital and back, hospital stay with the patient etc

In this blog post, learn all you need to know about Hospital Cash Insurance.

  1. What is Hospital Cash Online?How is it different from Health Insurance? Hospital Cash Online insurance gives you daily cash benefit for every 24 hours of hospitalization due to illness.
    While Health Insurance covers the actual medical expenses incurred, Hospital Cash policy pays a lump sum amount for the number of days the Insured person stayed in hospital irrespective of the medical expenses incurred.
    Hospital Cash Online is NOT a substitute for Health Insurance.
  2. What is the amount which will be paid to the family members in the event of hospitalisation of Policy holder? Hospital Cash Online insurance gives daily cash benefit for every 24 hours of hospitalization due to illness, depending on the plan you avail.
    If the hospitalization is due to an accident, then the policy pays double the daily benefit up to 21 days (for this purpose the daily benefit for first 24 hours spent in hospital is not payable).
    If the insured person is admitted in an ICU, then the policy pays triple the daily benefit, up to 21 days.
  3. What is the age limit for a person to avail the Hospital Cash Online Insurance? This insurance is available to people in the age group of 1 year to 60 years, as on the date of commencement of the policy. Renewal is available up to 70 years of age.
  4. Who is entitled to receive the daily cash benefit? Does the person need to be covered under the policy as well? In the event of admissible claim the amount will be paid to the proposer. The proposer need not be covered under the policy to receive the cash benefit, but we recommend you to cover all your family members.
  5. What are some other benefits of taking the Policy? You can receive a fixed lump sum amount as per the Plan you choose, if the confinement in hospital is for illness covered under the policy, and it exceeds 21 consecutive days. This benefit is over and above the daily benefit and is payable once in the policy period.You can also get Income Tax benefits with this Policy.
  6. How can a family member make a claim, if a loved one is admitted to hospital? A family member can make a claim by submitting the duly completed Claim Form along with the documents mentioned below, within 10 days from the date of discharge –
    • Photo copy of bills, receipt and discharge certificate/card from the Hospital.
    • Photocopy of F.I.R. copy in case of an accident.
    • Complete set of Hospital/medical records if specifically sought by us.
    • If required, the Insured / Insured Person must give consent to obtain Medical Report from any Medical Practitioner at Our expense.
    • If required, the Insured / Insured Person must agree to be examined by a Medical Practitioner of Our choice at our expense.
  7. Do I need to have a Health Insurance with Royal Sundaram to avail this policy? You need not have a Health Insurance policy with Royal Sundaram to avail this policy. Hospital Cash Online insurance is a daily benefit scheme for hospitalization. Hence, you can cover your entire family!
  8. Will all hospitalizations be covered or is there any exclusion? The policy has certain exclusions, like a 30-day waiting period, pre-existing conditions, 1st year exclusions, etc. Please refer to the Policy’s Terms and Conditions for complete details. If the admission is due to any reason mentioned in the exclusions, the benefit will not be payable.
  9. What is the premium charged to avail the Policy?
    1 year to 45 years 785 1,473
    46 years to 60 years 1,178 2,258
    61 years to 70 years (Applicable for renewals only) 1,570 3,043
  10. Do I have to undergo any medical tests to avail the Policy? No, you can get you and your family covered under this scheme without any medical check-up.

S.K Rangaswamy, Head Underwriter (Retail – Health), Royal Sundaram

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