Daily Hospital Cash Insurance – Definition, Coverage, Exclusions, Best Plans, Claims, Benefits Premiums | Free Quote Online

What is Daily Hospital Cash (HospiCash) Insurance?

Daily Hospital Cash Benefit is a type of Health Insurance benefit that provides a fixed daily benefit for each day that the Insured is hospitalized due to illness or injury. This benefit is paid irrespective of the actual hospital expenses incurred and the insured can use the Daily Hospital Cash Benefit to pay for medical bills that are not covered by a comprehensive Health Insurance Plan, as well as meet any additional costs incurred during the hospitalization. Such costs may include travel costs to and fro from the hospital, food expenses, and any other expenses which are not covered by a regular Health Insurance Policy

The Daily Hospital Cash Benefit is normally included in a basic Health Insurance Plan, but it can also be purchased as an add-on cover. The amount that the Insured receives under the Hospital Cash Insurance is fixed at the time policy commencement and ranges from Rs500 to Rs5000 every day.

In simple terms, Daily Hospital Cash Insurance is a Policy that pays a fixed Daily Hospital Allowance between Rs500 to Rs5000 if the Insured is admitted to a hospital.

What is the need for Hospital Cash (HospiCash) Insurance?

Daily Hospital Cash Insurance a lumpsum amount to the Insured for each day of hospitalisation which can be used to cover non-medical expenses which are not covered by regular Health Insurance Plans. Here are some compelling reasons to consider adding this coverage to your Health Insurance Plan.

Coverage for Non-Medical Expenses

A Hospital Cash Insurance Policy provides a lumpsum amount which can be used to cover various non-medical expenses, such as:

• Food and accommodation for family members
• Travel costs to and from the hospital
• Additional medical accessories not covered by standard Health Insurance

Financial Cushion

A Daily Hospital Cash Plan provides Rs500 to Rs5000 per day based on the plan chosen irrespective of the actual expenses incurred. This Benefit acts as a financial cushion, covering your expenses during the hospitalization period and providing peace of mind.

Multiple Plan Options

A Daily Hospital Cash Policy offers flexible plan options with 30 days and 60 days coverage. The Insured can select a plan based on his preferences ensuring that the plan provides a benefit for long hospital stays as well.

Replace Lost Income

The Daily Hospital Cash Benefit will provide income replacement if the bread earning member is hospitalised leading to income loss.

Tax Benefit

The Premium paid under this policy is eligible for Section 80D Deductions of the Income Tax Act, 1961.

Who should consider purchasing Daily Hospital Cash Insurance?

Daily Hospital Cash insurance is suitable for the following people:

1. Individuals with an existing Health Insurance Policy should consider HospiCash benefit as a supplementary cover to enhance existing health insurance.
2. Families should consider purchasing a Daily Hospital Cash Benefit Policy to cover additional costs when a family member is hospitalized.
3. Senior Citizens should also consider purchasing a Daily Hospital Cash Benefit Policy to cover incidental costs during hospitalization, which can be a burden on fixed incomes.

Best Daily Hospital Cash Health Plans in India - 2024

1. HDFC Ergo Optima Secure: HDFC Ergo Optima Secure is a Health Insurance Policy offering a Hospital Cash Benefit of Rs500 to Rs10,000 for each day of hospitalisation for a maximum of upto 30 days.
2. SBI Health Edge: SBI Health Edge Insurance Policy is a comprehensive Health Insurance Plan offering a daily Hospital Cash Allowance of Rs1000/Rs2000 for 10 days for each day of hospitalisation.
3. Niva Bupa Aspire Titanium Plus Plan: Niva Bupa Aspire is a comprehensive Medical Insurance Policy offering a daily lumpsum benefit of Rs4,000/day for Policies with a Sum Insured of Rs15 lakhs and above for 30 days for each day of hospitalisation. The Hospital Cash Benefit is an add-on cover under the Policy.
4. Royal Sundaram Lifeline Elite Plan: Royal Sundaram Lifeline Elite is a comprehensive Health Insurance Plan offering an optional hospital cash benefit of Rs5000/day for 30 days for hospitalisation beyond 2 days.
5. Star Hospital Cash Insurance Policy – Enhanced Plan: Star Hospital Cash Insurance Policy – Enhanced Plan is a standalone Hospital Cash Insurance Policy offering Sum Insured Options of Rs3000, Rs4000 and Rs5000 for a period of 90 days, 120 days and 180 days.

What is the duration of Daily Hospital Cash Insurance Plan?

Most Daily Hospital Cash Insurance Plans provide coverage for 10-30 hospitalisation days in a Policy Period. However, some Hospital Cash Plans also provide coverage for 90-180 days.

What is the Sum Insured under Daily Hospital Cash Insurance Plan?

Most Daily Hospital Cash Insurance Plans provide coverage Rs500 to Rs5000. The amount varies from one Insurance Company to another

Things to consider before purchasing Daily Hospital Cash Insurance!

There are certain things that a Policyholder needs to keep in mind when opting for a Daily Hospital Cash Benefit:

1. The Policyholder needs to be hospitalized for a minimum of 24-48 hours for availing daily hospital cash benefit depending on the terms and conditions of the Health Insurance Policy
2. No coverage is available for Day Care Procedures under Daily Hospital Cash Insurance
3. Generally, there is a ceiling of 30, 60 or 90 days on the number of hospitalization days in an Insurance Policy
4. There is a waiting period to enjoy daily cash benefit under Health Insurance

Get Best Quotes for Health Insurance Policy with Qian!

A Hospital Daily Cash Insurance policy can be very useful if you end up in the hospital unexpectedly. Without this coverage, extra costs like food, accommodation, and travel can add up quickly and strain your finances. To cover these additional expenses and get the best medical coverage, consider opting for a Daily Cash Benefit under a Health Insurance Policy. If you wish to learn more about Daily Hospital Cash Benefits or any other terms and features in Health Insurance, you can reach out to us at insurance@qian.co.in or call us on 022-35134695. We would be glad to assist you.