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Sudden hospitalisation can burden you not just physically, but also financially. A traditional health insurance plan typically covers most medical bills, but incidental costs, such as transportation, meals, and attendant care arrangements, often remain out-of-pocket. This is where a hospital cash insurance policy from Universal Sompo comes into play.
The Hospital Cash Insurance Policy provides a fixed daily cash benefit for each completed 24-hour period of hospitalisation, which can help manage incidental or non-medical expenses. Ultimately, selecting the best hospital cash policy can provide extra protection for you and your family against financial loss or offer a safety net during challenging times.
Let’s explore why this coverage is essential.
Why you should buy
Healthcare Insurance from us
Tailor-made Plans
Affordable Premium
Flexible Sum Insured
15,500+ Cashless Hospitals
Why Choose
Hospital Cash Insurance?
Hospital admissions typically involve additional costs beyond medical expenses. These incidental expenses pose problems for families that are often not covered by their health insurance policy. For these reasons, a hospital cash benefit policy offers numerous benefits to many families.
Here’s why thousands of people choose Universal Sompo’s Hospital Cash Insurance:
01.
Daily Cash Allowance
A fixed amount is paid for each completed 24-hour period of hospitalisation, irrespective of actual medical expenses incurred
02.
Covers Non-Medical Expenses
Manages costs such as transportation, food, and attendant care.
03.
Financial Cushion
It acts as an additional layer of financial support alongside your existing health insurance, especially for incidental expenses.
04.
Flexible and Affordable
You can purchase a hospital daily cash policy online with ease and affordable premiums.
05.
Works with Existing Insurance
It acts as an add-on to your existing health insurance plan.
Cover Highlights For You And Your Loved Ones
Cover Highlights
Lifetime Policy
Renewals
Hospital Confinement
Benefit
Intensive Care
Benefit
Convalescence
Benefit
No pre-medical tests
up to 55 years
Is Hospital Cash Insurance
Right for You?
Many people are unaware of the actual significance of a hospital cash insurance coverage until they are unexpectedly hospitalized. While medical expenditures are covered by typical health insurance plans, incidental costs like travel, meals, and attendant care fees are frequently not taken into consideration.
A hospital cash insurance ensures that you receive a fixed daily cash allowance during hospital stays, helping manage these expenses effectively. Here are some situations where Universal Sompo’s hospital cash insurance can be particularly beneficial:
Families with elderly parents
Senior citizens often require frequent hospitalisation due to age-related health issues. A hospital cash policy provides financial support during these periods.
Self-employed individuals
Those without a fixed income may lose earnings during hospital stays. Daily cash benefits help cover ongoing expenses.
People living in metro cities
Higher incidental costs in urban areas make daily cash benefits invaluable.
Students or young professionals:
find this policy a cost-effective way to receive a fixed daily payout during hospitalisation, helping manage incidental expenses.
Existing policyholders
Acts as an additional safety net alongside your current health insurance plan.
To enhance your financial preparedness during medical emergencies, a hospital cash insurance policy can serve as a practical and supportive option.
Know What Our Hospital
Cash Insurance Offers You
Intensive Care Benefit
Two times the Daily Allowance, subject to maximum of X days as mentioned in the Schedule, for each continuous and completed period of 24 hours required to be spent by You/ Your Insured Family Member in the Intensive Care Unit of a Hospital during any period of Hospitalisation. Show MoreShow Less
Pre-existing diseases Renewability
Pre-existing diseases will not be covered until 48 months of continuous coverage have elapsed.
Financial Protection
Any Sickness that has been classified as an Epidemic by the Central or State Government.
Diseases Safety
General debility, nervous or other breakdown, rest cure, congenital diseases or defect or anomaly, sterility, sterilisation or infertility.
Dental Treatment Claim
Dental treatment or surgery of any kind unless necessitated by Accidental Bodily Injury.
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Prospectus Key Features of Our Hospital Cash Insurance Plan
Universal Sompo offers one of the best hospital cash insurance policies in India, designed to provide financial support during hospitalisation and ease the burden of incidental medical expenses.
Here are the standout features:
Hospital Confinement Benefit
If you or your insured family member is hospitalized (excluding ICU), you will receive a Daily Allowance for each continuous and completed 24-hour period of stay. The amount and maximum number of days are based on the option you select and are clearly mentioned in your policy Schedule. You can choose coverage for 15, 30, 45, 60, 90, or 180 days.
Intensive Care Benefit
In case of admission to an Intensive Care Unit (ICU), the benefit amount doubles. You will receive two times the Daily Allowance for each completed 24-hour period spent in the ICU, up to the maximum number of days specified in your Schedule.
Note: If a claim is payable under this ICU benefit, the regular Hospital Confinement Benefit will not be paid for the same period.
Convalescence Benefit
If hospitalization continues for more than 21 consecutive days, a lump sum benefit (₹10,000 or as specified in your Schedule) will be paid once per policy year per insured event. This benefit is not applicable if you’ve opted for a Hospital Cash period of 30 days or more.
Easy Claims Process
The policy features simple documentation and quick claim settlements, making it stress-free during medical emergencies.
Tax Benefits
Premiums paid qualify for tax deductions under Section 80D of the Income Tax Act, providing additional financial relief. As per the tax regime
Renewable for Life
Enjoy lifelong renewability, ensuring that you and your family remain covered year after year without interruption.
Understanding these features helps you determine if Universal Sompo’s Hospital Cash Benefit Insurance policy suits your family’s needs and safeguards your financial well-being during health crises.
Who Can Apply for
Hospital Cash Insurance?
Universal Sompo’s hospital cash benefit policy is designed to be flexible and accessible, catering to the diverse needs of families across India.
01
Entry Age
The policy is available for both adults and children, allowing comprehensive coverage for the entire family.
02
Parents & Senior Citizens
The policy allows entry up to 70 years, making it easier for elderly family members to secure hospital daily cash insurance. Lifelong renewability ensures continued protection even in advanced years.
03
Family Coverage
You can include yourself, your spouse, children, and dependent parents under a single policy. Family floater options make it cost-effective while maintaining adequate coverage for all members.
04
Medical Tests
Insurers may request routine health check-ups or medical reports for older applicants to evaluate eligibility.
05
Pre-Existing Conditions
Coverage for pre-existing conditions begins after 36 months of waiting period , ensuring protection against long-term illnesses.
Universal Sompo allows you to customise your hospital cash insurance based on age, medical history, and coverage needs. This flexibility offers a reliable safety net for your family’s financial and medical security.
How to Buy a
Hospital Cash Insurance Policy?
Purchasing a hospital cash insurance policy with Universal Sompo is quick, convenient, and can be done either online or offline, depending on your preference. you can secure coverage from the comfort of your own home without needing to visit a branch.
With Universal Sompo’s instant hospital cash insurance, you can protect your family financially during hospitalisation
Get Claim in 3 Easy Steps
1Initiation
Set the ball rolling by requesting for cashless approval through a network hospital. Post which we evaluate and approve/reject the request.
2 Hospitalisation
After approval, go ahead with the hospitalization.
3Claim Settlement
The claim gets settled directly with the hospital upon discharge.
1Initiation
Settle the bill with the hospital and share the original documents and invoices with us.
2Verification
We authenticate the documents.
3Claim Settlement
The approved amount gets deposited in your bank account.
Hospital Cash Insurance Claim Process Explained
Filing a claim under hospital cash insurance with Universal Sompo is straightforward and designed to minimise stress during hospitalisation.
Notify the Insurer
Inform Universal Sompo as soon as hospitalisation occurs to initiate the claim process promptly.
Emergency hospitalisation
Notify within 24 hours
Planned hospitalisation
Notify at least 48 hours prior
Submit Required Documents
- Claim form
- Discharge summary
- Indoor case papers
- Investigation reports
- Bills and prescriptions
- ID proof
- NEFT details
- MLC/FIR for accident cases
Claim Review
Our claims team carefully reviews every submitted document to ensure everything is accurate and complete, helping us process your claim smoothly and efficiently.
Cash Benefit Payment
Once approved, the daily cash allowance is transferred directly to your bank account, typically within a few business days of approval, to help cover non-medical expenses.
Whether hospitalisation is due to an illness or an accident, Universal Sompo’s hospital cash benefit insurance guarantees a smooth and hassle-free claims experience, providing financial support when you need it most.