Hospital Cash Insurance

What is Hospital Cash Insurance?

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.

Eligibility Criteria for Hospital Cash Plan

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.

Policy Plan Details & Specifications of Hospital Cash policy

The specifications of the Hospital Cash policy are:

• Lump sum benefits

• A variety of plans are available 

1. Basic Plan

2. 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

Hospital Daily Cash Policy’s Coverage Limit

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.

What’s Included and Not Included Under Hospital Cash Insurance

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:

Process and Documents Required to Initiate a Claim for Hospital Cash Insurance

The detailed procedure to raise a hospital cash insurance claim is mentioned below:

1. 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.

2. 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.

3. 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.

Customer Care Details

To contact Bajaj Markets, write to insuranceconnect@bajajfinservmarkets.in if you have any queries or concerns.