Daily hospital cash insurance is a health insurance benefit that offers a lump sum mount daily to the insured during the hospitalization for a specific period. The money can be utilized to meet the additional expenses that health insurance does not cover for compensating any loss of income during the hospitalization period.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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Hospital Cash Insurance is simply an insurance policy that provides a fixed sum insured for each day of hospitalization of more than 24-hours. It is a fixed daily allowance that is paid to the policyholder to meet miscellaneous expenses during the period of hospitalization.
The daily cash benefit is usually provided in a basic plan or can be purchased as an optional cover. Some health insurance companies also provide a separate hospital cash insurance plan. Moreover, the daily hospital cash benefit is doubled in case of ICU admissions.
With Daily hospital cash benefit the insured can pay for the medical expenses that are not covered under a comprehensive health insurance plan, and meet the extra expenses incurred during the hospitalization.
The daily hospital cash benefit amount is fixed, and if the actual cost is lesser than the daily benefit limit, then the insurer will not ask for any extra amount.
For instance, the coverage limit in a hospital cash plan is Rs. 800, and the actual expense is Rs 500 then also the insurer will pay the amount equal to Rs 800. So, the daily hospital cash rider benefit works as a cushion for the policyholder during the hospitalization.
Check out some of the best hospital cash insurance plans from the top insurers in India as given in the table below:
Daily Hospital Cash Insurance |
Amount (Rs.) |
Number of Days |
|
Aditya Birla Activ Assure Diamond Health Insurance Plan ( in-built benefit) |
Rs 500 |
For consecutive 5 days |
|
Bajaj Allianz Hospital Cash Benefit Policy |
Rs 500 to Rs 2500 |
30 days & 60 days |
|
Bharti AXA Health Insurance Plans (Optional Cover) |
Rs 500 to Rs 25000 |
up to 45 days |
|
Cholamandalam Hospital Cash Insurance Plan |
Rs 1000 to Rs 3000 |
20-25 days |
|
Care Health Insurance Plans ( Add-on cover) |
N/A |
Up to 30 days |
|
Digit Health Insurance Plans |
N/A |
up to 30 days |
|
Edelweiss Health Insurance |
N/A |
N/A |
|
Future Generali Hospital Cash Plan |
Rs 500- Rs 9000 |
30, 60, 90, & 180 days |
|
Iffco Tokio Hospital Daily Cash Policy |
Rs 250 to Rs 5000 |
15, 30, 60, 90, & 180 days |
|
Kotak Mahindra Hospital Cash Optional Cover |
N/A |
3 days onwards |
|
Liberty Health Insurance Plans |
Rs 500 to Rs 1000 |
N/A |
|
Manipal Cigna Health Insurance Plans |
Rs 1000 to Rs 3000 |
N/A |
|
Niva Bupa (Formerly known as Max Bupa) Health Assurance Plan |
Rs 1000 to Rs 4000 |
up to 45 days |
|
National Health Insurance |
N/A |
N/A |
|
Oriental Happy Cash Policy |
|
30/60 days |
|
Raheja QBE Hospital Daily Cash- Group |
Up to Rs 15,000 |
7-15 days |
|
Reliance Health Insurance |
N/A |
N/A |
|
Royal Sundaram Lifeline Insurance Plan ( Optional Hospital Cash Insurance) |
Rs 1000, Rs 2000, Rs 5000 |
30 days |
|
Star Health Insurance |
Basic Plan: Rs 1000, Rs 2000, & Rs 3000 Enhanced Plan: Rs 3000, Rs 4000, & Rs 5000 |
Basic Plan: 30, 60, 90, 120, & 180 days Enhanced Plan: 90, 120, & 180 days |
|
SBI Hospital Daily Cash Insurance Policy |
Sickness: Rs 500 to Rs 2000 Accident: Rs 1000 to Rs 4000 |
30/60 days |
|
Tata AIG Health Insurance |
Rs 500 onwards |
up to 180 days |
|
Universal Sompo Health Insurance |
0.25% of the Sum Insured or Rs 2000 |
N/A |
|
United India Health Insurance |
Rs 250 to Rs 2500 Rs 500 to Rs 5000 |
N/A |
Disclaimer: *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer
Your health insurance policy pays for most of your medical expenses during the hospitalization, but some of the expenses are still not covered by your medical insurance plan. Hospital cash insurance can include some of the inadmissible expenses such as X-Ray charges, surgical accessories, visiting family member charges, etc.
Also, you can avail of daily hospital cash benefits without submitting any supporting bills for hospitalization of more than 24 hours. This daily cash allowance is only available if the hospitalization becomes admissible.
If the insured is hospitalized for some medical treatment, then the health insurance company pays a lump sum amount daily and the amount can be utilized as per the need of the policyholder.
In some cases, the coverage amount can be used to meet any additional expenses that are not covered by your health insurance policy or for any loss of income during the hospitalization period.
Daily cash benefit usually ranges from Rs 100 to Rs 10,000 but the actual amount will vary from one insurer to another. It is suggested to check the hospital cash plan limit in the policy wordings or at the time of purchasing hospital cash insurance.
If the hospital cash benefit is inbuilt in the health insurance plans then the coverage is provided on percentage bases i.e. a percentage (%) of the Sum Insured.
For example, the Daily hospital cash policy can provide 1% of Sum insured as a hospital cash benefit. However, the coverage limit can vary from one insurance company to another and has to be checked at the time of policy purchase.
On an average, a daily hospital cash policy benefit is available for 15 days to 45 days. However, the actual number of days can vary from one health insurance provider to the other and the same needs to be at the time of policy purchase.
In case you get hospitalized for 10 days then also you are eligible to receive hospital cash benefit for 30 days during the policy term.
Hospital cash rider provides a fixed coverage amount for each day of hospitalization and a specific number of days. The coverage amount is also provided in case of admission in an ICU or Intensive Unit Care or a lump sum amount in case of surgery.
The minimum age to buy hospital cash insurance remains the same as the age limit mentioned in the base health insurance plan.
The daily cash benefit in health insurance can be used to meet the expenses incurred during the hospital stay on both medical items and personal items. The policyholder can use the amount to meet miscellaneous expenses.
Yes, Star health insurance provides daily hospital cash benefit in their health insurance plans.
The coverage limit under the daily hospital cash policy can be a minimum of Rs 100 and goes up to a maximum of Rs 10,000. However, this will vary on your health insurance plan and also the health insurance company, as there is no fixed limit.
Yes, you can avail of hospital daily cash benefit under your Digit health insurance plan.