Hospital Cash Insurance Policy Plan - Daily Hospicash Benefit in Insurance Policy | iServeU

Hospital Cash Insurance Plan

In a hospital cash insurance policy, a fixed amount is given to the policyholder each day during their hospitalization period. This sum is pre-decided at the hour of acquisition of the insurance plan.

Introduction

Hospicash is a medical coverage wherein the client is secured for hospitalization costs for upto 30 days. Additionally, the Hospicash covers the sudden death or inability. Life Insurance is an agreement or legal contract between the Insurance Policyholder (customer) and the insurance provider. Hospital daily cash has many benefits. It gives a fixed amount of sum every day during the period of hospitalization and this sum can be used as per the policy holder’s needs. The cash can be used for meeting extra costs that are not covered by health insurance coverage. The customer pays some amount on behalf of the beneficiary in exchange for a premium. These facilities are applicable upon death or injury of the beneficiary/policyholder. The workers, laborers, and unbanked people are far from accessing these kinds of facilities. Even some of the Insurance providing agencies are putting in a lot of effort, but it’s very tough to reach the last mile of rural connectivity.

We at iServeU believe, Insurance is not a service, it’s a basic need and it should be accessible to each and every one. In order to mitigate that gap, iServeU is providing Life Insurance and Hospicash facilities at all BC Agent outlets in association with Kotak Mahindra Bank Ltd.

Hospital Cash Policy:

Along with cash deposit and withdrawal services, approaching customers can also avail of insurance policy at iServeU touchpoints by providing their mobile number and minimum details. In association with Kotak Mahindra Bank Ltd, iServeU was the first company in India to launch Kotak Life Insurance and HospiCash at retail points. Hospital Cash Policy covers all the extra expenses like food, refreshments, transportation, and other small expenses. One lakh and two lakhs, these two variants of policies are available under Kotak life insurance. Hospicash is the most affordable insurance policy available in the current Indian market. Three kinds of insured benefits are available under hospicash-

  • Hospitalization cash
  • Permanent disability
  • Death

Daily hospital cash benefit policy:

The daily cash amount of Rs 500 is paid to the policyholder for each day of Hospitalization (Max. 30 days per year) in any hospital. Produce the discharge certificate to avail of the benefit. The pre-existing disease waiting period is applicable.

Permanent Disability:

 Up to Rs 1,00,000 benefits for permanent total disability due to accident within 1 year of availing the policy. Eg. Loss of Limbs, Complete loss of eyesight, etc.

Death:             

 Rs 1,00,000 of insurance payment to nominees of the policyholder, if death occurs is due to an accident then eligibility for payment of Rs 2,00,000.

Daily Cash Benefit:

 A fixed amount of Rs. 500 is given to the policyholder each day during the period of hospitalization.

Family Discount:

Profit a 5% family markdown if at least 2 relatives are secured under this policy. This markdown is applicable to both new and renewed policy.

What is the daily hospital cash benefit?

The daily hospital cash benefit offers a fixed sum for every day during your hospitalization period. The sum paid is fixed at the hour of taking the policy and would stay fixed. These cash benefit covers can be taken as a rider to your standard medical coverage strategy/health insurance or added as a supplement to the existing policy.

What is covered under Daily Hospital Cash Benefit?

  • Defined daily hospital cash benefit plan

The plan pays the fixed amount to the beneficiaries even if the expenses incurred are low or high.

  • Fixed Paid Amount

The amount paid during the issuance of a policy would remain the same till the end of the hospital daily cash policy.

  • Fixed daily cash limit

The health policy provides a daily allowance of Rs.500 to Rs.3000 and you can choose the amount before enrolling in the daily hospital cash policy.

  • Increased daily allowance for ICU patients

If someone is an ICU patient, the daily allowance increases two-fold. Some policy offers additional benefits in case surgery is needed.

  • Fixed Permitted number of hospitalization days

One thing, one must know before choosing this plan is that it doesn’t cover Day care procedures. The maximum days of hospitalization the plan covers are usually 30,60, or 90 days.

  • Liberty to use lump-sum amount provided by the policy

Even when your health care policy covers up all your hospitalization expenses it fails to cover up the additional expenses that occurred during your visit to the hospital like transportation expenses, any accessories expenses, X-ray charges, or if you have accompanied with your family member. But, in the case of the Hospital’s daily cash policy, you can avail of a lump sum amount and use it according to your needs. You can compensate for the other expenses as well.

What occurs on the off chance that somebody is in the ICU?

An ICU costs a lot higher,  so the policyholder will get the twofold money advantage. For example, if the daily hospital cost benefit  under your policy is Rs.1000, when being in an ICU that will become RS. 2000.

Hospital Cash Benefit Insurance:

What is daily hospital cash benefit?
The daily hospital cash benefit offers a fixed sum for every day that you are hospitalized. The sum paid is fixed at the hour of taking the approach and would stay fixed. This advantage spread can be taken as a rider to your standard medical coverage strategy or additionally as an independent spread.

What is covered under Daily Hospital Cash Benefit?

In spite of the fact that your medical coverage strategy covers your vast majority of your costs when you are hospitalized, a few costs are not secured by your wellbeing plan. Such costs are called unacceptable costs and incorporate careful embellishments, X-Ray charges, costs brought about by going with relatives, and so on Additionally, every day medical clinic money advantage will kick in without requesting any supporting bills. Just a legitimate hospitalization of at any rate 24 to 48 hours, is confirmation enough to profit this advantage. Be that as it may, on the off chance that the hospitalization gets prohibited, at that point this advantage gets declined.
What occurs on the off chance that somebody is in the ICU?

Attributable to the way that in an ICU the costs are a lot higher, wellbeing guarantors generally twofold the day by day money advantage sum if the safeguarded is conceded in an ICU. For example, if the every day emergency clinic money in a customary room under your strategy is Rs.1000, when conceded in an ICU that will become Rs. 2000.

Daily Cash Benefit in Health Insurance:

On an average daily hospital cash benefit is accessible for 30 to 45 days. If you are hospitalized for one ailment, for 30 days, you are qualified to get daily hospital cash for 30 days.

kotak-logo

HospiCash

HANDLE MEDICAL EMERGENCIES WITHOUT THE WORRY OF EXPENSES

Hospitalization Cash

Hospitalization Cash

Daily cash amount of Rs 500 paid to the policyholder for each day of Hospitalization ( Max. 30 day per year ) in any hospital. Produce the discharge certificate to avail the benefit. Pre-existing diseases waiting period applicable

Permanent Disability

Permanent Disability

Up to Rs 1,00,000 benefits for Permanent Total Disability due to accident within 1 year of availing the policy. E.g: Loss of Limbs, Complete loss of eyesight etc.

Death Hospicash

Death

Rs 1,00,000 of insurance payment to nominees of policy holder if death occurs is due to accident then eligility for payment of Rs 2,00,000

Key Highlights:

  • Life Insurance of 1 Lakh & 2 Lakhs
  • Easy Claim Process
  • Higher Margin Structure
  • Affordable Life Cover
  • 3 insured benefits in a single policy

FAQs

What is a hospital’s daily cash?

In hospital daily cash, a fixed amount per day during the hospitalization period is given to the policyholder. A lump sum amount is given to the person daily to meet the extra expenses during the hospitalization period.

What are the benefits of Hospicash Insurance?

Benefits of Hospicash Insurance:

  • You can use the money to cover up extra expenses
  • In case of permanent disability, you can avail of up to Rs. 1,00,000.
  • In case of death due to an accident, the nominee can avail Rs. 1,00,000.
  • The daily cash amount doubles, if the person is in ICU or going through surgery.
  • The amount you invest is very less.

How does a hospital plan work?

The daily hospital cash allowance is provided during the period of hospitalization. It covers all the extra expenses like food, refreshments, transportation, and other small expenses.

How to use hospital cash policy?

The daily cash amount of Rs 500 paid to the policyholder for each day of Hospitalization (Max. 30 days per year) in any hospital. Produce the discharge certificate to avail of the benefit. Pre-existing diseases waiting period applicable

What is the daily cash benefit of health insurance?

The daily cash benefit of health insurance is Rs. 500 per day during your hospitalization period which is 30 days from the date of admission.

Which is best health insurance or mediclaim?

iServeU provides the best health insurance that is Hospicash. You can avail daily cash allowance of Rs. 500 during your hospitalization period. All you need to do is avail the insurance at Rs. 635.

Why it makes sense to combine a hospital daily cash plan and indemnity-based health insurance?

Hospital cash benefits are supplementary to your health insurance. Health insurance can cover up all the major expenses and the huge bills charged by the doctors whereas the hospital’s daily cash plan would cover up all the extra expenses that occur during your hospitalization period.

What Is Hospital Cash insurance policy And Is It Important?

Yes, it is important to have a hospital cash insurance policy. The health policy provides a daily allowance of Rs.500 to Rs.3000 and you can choose the amount before enrolling in the daily hospital cash policy.

If someone is an ICU patient, the daily allowance increases two-fold. Some policy offers additional benefits in case surgery is needed.

What is daily hospital cash benefit policy?

The daily hospital cash policy, offers a fixed sum for every day that you are hospitalized. The sum paid is fixed at the hour of taking the strategy and would stay fixed. This advantage spread can be taken as a rider to your standard medical coverage strategy or additionally as an independent spread.

What is hospital daily cash benefit in health insurance?

You can use the hospital’s daily cash benefit if you have faced some minor health issues that cost you less. In this way, you can preserve your No claim bonus (NCB) and avail yourself of complete health plan benefits.  By raising a claim for a small amount, you might lose the benefits of the No claim bonus. The policy covers extra expenses like transportation costs, medicine costs, and other expenses that are not covered under health insurance.