There are plenty of healthcare insurances in the market which cover the medical bills. What about the other miscellaneous expenses that a patient and their family have to look after during that period? These expenses can be anything starting from X-ray bills to food bills. However, if you have hospital cash insurance, you do not have to worry at all. A Hospital Daily Cash policy is a type of insurance policy that provides funds for miscellaneous hospital expenses in case of hospitalisation for more than 24 hours.
It is like a daily cash allowance provided to the holder. The amount of daily cash varies according to the type of insurance plan, type of medical treatment, and a few other factors in times of hospitalisation. This plan is very helpful for patients and their family as they do not have to worry about the side expenses.
Here are some of the most beneficial features of hospital cash insurance:
To get an insurance plan online by following the steps mentioned below:
The eligibility criteria for the Hospital Cash Insurance plan are as follows:
The minimum and maximum age of an applicant must be 18 years and 65 years respectively for adults.
The minimum age for children is 6 months.
In the case of adults, a stable source of income is required.
The applicant's medical history is checked and should match the criteria of the specific insurance plan.
The specifications of the Hospital Cash policy are:
Lump sum benefits
A variety of plans are available
Basic Plan
Enhanced Plan
Policy term of up to 3 years
Individual and floater sum insured types
Included daycare procedures
Daily cash benefit of up to ₹5,000
Hospital cash for up to 180 days
The daily cash limit for you could range from ₹100 to ₹10,000. If your daily cash cover is an add-on to your health insurance, the daily coverage limit would be calculated in percentage. This means that a percentage of the sum insured will be disbursed to you as daily cash allowance for hospitalisation.
Before buying any insurance policy, it is extremely important to know what is covered and not covered under the policy. The main inclusions and exclusions under the Hospital Cash policy are given below:
Inclusions |
Exclusions |
Policyholders get a specific sum of money as the core coverage for the hospital expenses, including inadmissible expenses like surgical equipment, visiting member charges, etc. |
Pre-existing diseases |
Available for every age group, starting from 6 months till 65 years. |
Problems or complications with human fertility |
Apart from the lump sum amount, the policyholder also gets a daily cash allowance to manage the daily expenses during the hospitalisation period exceeding 24 hours. |
Non-allopathic procedures such as ayurvedic or herbal treatment |
Plastic surgeries, beauty treatments, etc. |
|
Any physical injuries deliberately inflicted upon oneself |
The detailed procedure to raise a hospital cash insurance claim is mentioned below:
Inform the insurance company within 48 hours of hospital admission in case of planned hospitalisation. On the other hand, inform the company within 24 hours of hospitalisation in case of emergency hospitalisation.
File a claim by either contacting the insurance company through call or SMS. For this, you or your representative can contact the insurer through the customer service details provided.
Provide the following information along with the required documents to the insurance company executive:
UHID number
Policy ID
Patient name
Name of the person claiming the policy
Number of the person claiming the policy
Relationship of the caller with policyholder
DOA (Date of Admission)
Expected hospitalisation tenure
Admission reason
Concerned doctor’s name
Hospital name
Hospital address
City in which the hospital is located
State in which the hospital is located
Once the above-mentioned details are recorded by the insurance company executive, the following formalities need to be fulfilled to raise hospital cash benefits:
Complete claim form
Discharge the documents
Pay the hospital bill
Show the payment records
Show the doctor’s consultation documentation
After the submission of all the documents, the insurance company will start the fund disbursal under daily hospital cash benefits.
To contact Bajaj Markets, write to insuranceconnect@bajajfinservmarkets.in if you have any queries or concerns.
Yes, you can claim hospital daily cash insurance and health insurance for the same hospitalisation. The health insurance will cover your treatment expenses while the daily cash insurance will provide you with all the miscellaneous expenses.
No, cosmetic treatments are not covered under the Hospital Daily Cash plan.
Yes, if you have the daily cash benefit included in your hospital cash policy then it covers all types of surgeries like cancer, kidney transplants, etc. The only exclusions of this policy are -
Pre-existing diseases
Fertility issues
Non-allopathic treatments
Cosmetic treatments
Self-inflicted physical injuries
No, pre-existing diseases are not covered under the hospital cash policy.
The minimum coverage limit under the daily hospital cash benefits is ₹100 while the maximum coverage limit is ₹10,000. This amount might vary depending on the insurance plan you bought.
No, it is not necessary to provide the original bills for the hospital cash claims.
The following claim documents are necessary to provide to claim the Hospital Cash Insurance:
1. Copy of discharge certificate/summary
2. NEFT details
3. Copy of the final hospital bills
4. Copy of aadhar and PAN cards
Yes, the Bajaj Hospital Cash Insurance Policy is applicable to the daycare procedures.