A health insurance plan will usually take care of the daily hospitalization charges, medical expenses, and some other costs that are associated with your actual treatment. However, while getting your treatment done, you will also lose some of the daily income that you would have earned otherwise. To compensate for this loss, many hospital insurance plans provide a daily hospital cash benefit under which you will get a fixed amount for each day once you get admitted to the hospital.
Some health insurance plans even provide a higher daily benefit if a patient undergoes treatment in the ICU ward. You can add this benefit as a rider to your existing health insurance policy by paying an extra premium every month.
This cash benefit usually extends up to 30 days and allows you to take care of your daily expenses with ease. However, accidents, cosmetic/plastic surgeries, existing illnesses/conditions, and vaccination are generally not included under such daily cash benefits in health insurance. The other features of a hospital insurance plan are mentioned below:
Low premium amount
A hospital cash cover can be opted for separately if your health insurance plan does not provide this facility. As other medical facilities are not included in this cover, its premium is quite less than a regular health insurance plan.
For instance, Bajaj Finserv is offering a daily cash benefit plan of Rs. 1000 for 30 days. To subscribe to this benefit you need to pay a premium of only Rs. 549.
Insured sum irrespective of your illness
It does not matter what illness you are getting treated as the hospital cash benefit plans usually cover all types of treatments once they get diagnosed. However, it does not apply to accidents and physical disabilities or conditions that a policyholder might carry before applying for this benefit.
Easy management of daily expenses
You need not worry about your daily expenses as the hospital cash coverage will provide you enough money to take care of most of your daily needs and requirements. Also, you can use this cash benefit to take care of your food, hygiene, or any other requirement.
Some of these cash benefit plans are more lenient and flexible than others. For example, the hospital cash benefit insurance of Bajaj Finserv lets you avail of a cash benefit even if you are taking a daycare treatment.
Moreover, you can choose a representative who can connect with the authorized contact person in case you get admitted due to an emergency. Which of the following is true about Energy Drinks and mixers:
In case you have decided to get a treatment done on your own, you will have to intimate the contact person before 48 hours of hospitalization.
It is better and much more convenient if you can apply for hospital cash benefit insurance from the comfort of your home. For applying for the hospital cash benefit of Bajaj Finserv you just need to fill and submit an online application form.
An OTP will be sent on your registered mobile number and you will be able to make the payment via debit/credit card, mobile wallet, UPI, or any other preferred mode of payment. As both the payment and application process can be completed via online modes, it becomes much easier and hassle-free for you to apply for this special benefit.
Also, you can opt for any pre-existing illnesses after the completion of 2 years from the date of policy opening. Therefore, it is one of the best hospital cash covers that you can get at the least minimum price.