When hospital cash cover is included under regular health cover, policyholders receive a certain amount for every 24 hours of hospitalization. However, you need to bear in mind that this benefit is available only if the cause of hospitalization is covered under the policy.
Hospitalization can be financially stressful in several ways. There may be a requirement for attendant accommodation, travel expenses, and many other requirements. Entitlement to hospital cash coverage that provides daily payouts can help considerably.
Benefits of Smart Cash Plan Insurance
- The plan provides coverage for a period of 180 days. This includes treatment which may be taken abroad while on an official visit or on a holiday.
- There are different plans through which Smart Cash Plan is offered which includes daily benefits that range between Rs.500 to Rs.10, 000/- each day of hospitalization, beyond a period of 24 hours.
- In case the hospitalization is over 15 days, a lump sum amount of Rs.10, 000 is paid in addition hospital confinement benefit (once a year).
- If the hospitalization is due to air/road/ or rail accident, the daily benefit received is doubled for a maximum period of 15 days.
- The cost reimbursement benefit for health check-up is applicable depending upon the plan that is chosen.
- In case the insured is diagnosed with critical illnesses that are listed, then lump sum payment is paid on it as per the selected plan.
- The coverage is also offered in case of a family member’s emergency visit from abroad. This is applicable based on the specific plan.
- If the age of the insured person who is hospitalized does not exceed 12 years, a parental accommodation benefit will also be given in addition to the hospitalization benefit as per the selected plan.
- On payment of additional premium, personal accident benefit is offered as optional benefit.
With the Smart Cash Plan health insurance policy from Royal Sundaram, hospital cash of up to INR 10,000 per day is made available to policyholders. The feature is available to policyholders up to the age of 70 years with lifetime renewals.