Hospitalization can bring unexpected expenses, even if you have a comprehensive health insurance policy. Daily Hospital Cash Insurance is designed to ease this financial burden by providing a fixed daily allowance during your hospital stay.
What is Daily Hospital Cash Insurance?
Daily Hospital Cash Insurance is a type of health insurance add-on (or standalone policy) that pays a fixed amount for each day you are hospitalized. Unlike regular health insurance, which reimburses medical bills, this benefit provides cash directly to you, which can be used for any purpose—whether it’s covering non-medical expenses, travel costs for family members, or compensating for lost income.
Key Features:
Fixed daily payout (e.g., ₹500 to ₹10,000 per day).
Payouts are made even if actual expenses are lower.
Some policies double the benefit for ICU admissions.
No need to submit bills for reimbursement.
Benefits of Daily Hospital Cash Insurance
Covers Non-Medical Expenses
Helps pay for transportation, food, or accommodation for family members visiting the hospital.
Compensates for Income Loss
If hospitalization affects your earnings, the daily cash benefit acts as a financial cushion.
No Bill Submission Required
Unlike regular health insurance, you don’t need to submit bills to claim the benefit.
Flexible Usage
The money can be used for any need, not just medical expenses.
Additional Support for ICU Stays
Many insurers offer higher payouts (e.g., double the daily amount) for ICU admissions.
Top Hospital Cash Insurance Plans in 2024
Insurance Plan Daily Benefit (₹) Maximum Coverage Days Type
Aditya Birla Activ Assure Diamond 500 5 days (consecutive) In-built
Bajaj Allianz Hospital Cash 500 – 2,500 30/60 days Standalone/Add-on
Care Health Insurance Varies Up to 30 days Add-on
Cholamandalam Healthline 1,000 – 3,000 20-25 days Standalone
(Note: Always check the latest policy details before purchasing.)
What Does Hospital Cash Insurance Cover?
While regular health insurance covers hospitalization bills, daily cash benefits help with expenses such as:
Diagnostic tests (X-rays, MRIs not covered in the main policy).
Surgical accessories (bandages, gloves, etc.).
Travel and accommodation for family members.
Loss of income due to hospitalization.
Coverage Limit & Duration
Daily Benefit: Typically ranges from ₹100 to ₹10,000 per day.
Maximum Days: Most policies cover 15 to 45 days per hospitalization.
Frequently Asked Questions (FAQs)
- Is Hospital Cash Insurance the same as regular health insurance?
No, regular health insurance reimburses medical bills, while hospital cash insurance provides a fixed daily amount regardless of expenses. - Can I claim both health insurance and hospital cash benefits?
Yes, you can claim both if your policy includes a hospital cash add-on or if you have a separate hospital cash plan. - Do I need to submit bills to claim the daily cash benefit?
No, the benefit is paid automatically based on hospitalization proof (usually a discharge summary). - Is there a waiting period for hospital cash insurance?
Some policies may have a short waiting period (e.g., 30 days), but it varies by insurer. - Can I increase my daily cash benefit limit?
Yes, some insurers allow you to choose a higher daily payout when purchasing the policy.
Final Thoughts
Daily Hospital Cash Insurance is a smart way to manage unforeseen costs during hospitalization. Whether you opt for an add-on with your existing policy or a standalone plan, it ensures financial support when you need it most. Always compare policies, check coverage limits, and read the fine print before buying.
Would you like recommendations for the best hospital cash plans based on your needs? Let us know in the comments!