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Posted by Royal Sundaram on 03 Jan 2012
Hospitalization by itself can be a traumatic experience; added to it will be the financial burden. While regular health insurance plan can take care of the expenses of hospitalization and medical treatment, often the added burden of spending for conveyance, food and loss of income during hospitalization can have a debilitating effect both psychologically and financially.
It is at these moments when a supplemental health cover like Hospital Cash Insurance can make a huge impact. In unfortunate situations when your loved one is admitted in hospital, one needs to travel back and forth between hospitals; take care of special dietary needs and even stay at the patient’s bedside to take care of them. Apart from these incidental expenses arising from these needs, there is also the potential loss of income when one is not able to go to work and is forced to take leave on loss of pay.
The right choice of a Hospital Cash Insurance plan can offer daily cash benefit plans for each day of your hospitalization. It can also alleviate the burden of bearing additional expenses like travel between home and hospital, special dietary needs and so on.
Depending on the plan you opt for, you could even be paid a fixed amount for each day of your hospitalization and this is irrespective of the costs of the actual hospitalization.
Apart from the tax benefits offered by this plan, some of the other benefits one can experience with the ideal Hospital Cash Insurance plan are:
- Daily cash benefit for each 24-hour period in the hospital
- Double Accident benefit
- Triple ICU benefit and Convalescence benefit
While Hospital Cash Insurance offers a host of benefits for the insured during hospitalization, it is not a substitute for Health Insurance. It should only be treated as a supplement to your existing health insurance cover.
Royal Sundaram has been in the forefront of providing innovative insurance solutions. The company caters to the needs of the every individual and offers features and benefits of Hospital Cash Insurance highlighted above. What’s more you also get tax benefits under section 80 D of the I.T Act. Also there is no documentation or medical test required when you buy this policy online.
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