Health emergencies can bring about unforeseen financial burdens, emphasizing the need for robust healthcare plans. For such needs, HDFC ERGO Hospital Cash Insurance Plan can be considered a symbol of financial security during medical crises.
HDFC ERGO Hospital Cash Insurance policy stands out for its straightforward approach to addressing hospitalization expenses. This plan offers policyholders a fixed lumpsum amount on a daily basis throughout their hospital stay, which can ensure financial support precisely when it is needed the most.
The mechanism is simple yet effective – in the event of hospitalization, the insurer reimburses the incurred expenses, providing a cushion against the economic strain associated with healthcare.
Before you buy this plan, it is imperative to comprehend its nuances, recognizing that the coverage’s maximum liability is confined to the specified duration and amount outlined in the policy document. Let’s dive deeper.
HDFC ERGO Hospital Cash Insurance: Key Benefits
- Basic benefit: Fixed lumpsum amount on a daily basis during hospitalization
- Sum Insured: ranging from Rs. 500 to Rs. 2500 per day
- Policy Tenure: 1 year
- Network Hospitals: 12,000+ hospitals
- Pre-Existing Diseases Waiting Period: 4 years
- Specific Diseases Waiting Period: 2 years
- Initial Waiting Period: 30 days
Recommended Read: All About HDFC ERGO Health Insurance
Benefits of HDFC ERGO Hospital Cash Insurance
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Coverage of Additional Expenses
One of the primary advantages of this policy is its provision for covering additional expenses incurred during hospitalization.
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Tax Benefits
Purchasing the HDFC ERGO Hospital Cash Insurance policy can bring tax benefits. Under Section 80D of the Income Tax Act, the insured can avail themselves of tax benefits against the premium paid.
Inclusions of HDFC ERGO Hospital Cash Insurance Policy
- Financial support for each continuous and completed 24-hour period of hospitalization
- ICU hospitalisation benefit that includes double the daily cash amount provided for in-patient hospitalization
Exclusions of HDFC ERGO Hospital Cash Insurance Policy
- The policy does not cover expenses related to admissions, primarily for diagnostic and evaluation purposes of the insured individual’s health.
- Any diagnostic test expenses not directly related to the current diagnosis or treatment are excluded from coverage under the policy.
- Expenses incurred for domiciliary treatment provided to insured individuals living at a care facility or receiving assistance with daily living activities at home are not covered by the policy.
- Any form of surgery primarily aimed at weight loss is excluded from coverage under the policy.
- Treatment methods that are still in experimental stages or not widely recognized as standard medical practices are excluded from coverage.
- Any treatments received from medical providers or facilities excluded by the policy are not covered.
- Treatments aimed at enhancing fertility or supporting pregnancy are excluded from coverage under the policy.
Also Read: All About HDFC ERGO Easy Health Insurance Plan
HDFC ERGO Hospital Cash Insurance Plan Eligibility Criteria
- Minimum Age: No specific minimum age for adults, 91 days for children
- Maximum Age: 65 years
- Coverage Type: Individual coverage
- Renewability: Lifelong
FAQs
Is the HDFC ERGO Hospital Cash Insurance Plan a recommended choice for health coverage?
HDFC ERGO Hospital Cash Insurance Plan can be considered a suitable health insurance option, offering daily cash benefits to the insured during continuous hospitalization lasting 24 hours.
How does one claim benefits under the HDFC ERGO Hospital Cash Insurance Plan?
To qualify for the hospital cash claim, the insured must undergo hospitalization for a duration ranging from 24 to 48 hours. The maximum number of hospitalization days allowed within a policy year should be either 30, 60, or 90 days.
How long is the grace period for the HDFC ERGO Hospital Cash Insurance Plan?
You have a grace period of 30 days from the policy’s last expiry date to ensure continuity of coverage under the HDFC ERGO Hospital Cash Insurance Plan.
Does the HDFC ERGO Hospital Cash Insurance Plan offer a free look period?
You have a 15-day free look period with the HDFC ERGO Hospital Cash Insurance Plan, commencing from the date you receive the policy.
Can I customize the daily cash amount in the HDFC ERGO Hospital Cash Insurance Plan?
Yes, you have the flexibility to tailor the daily cash amount according to your preferences and needs. The plan offers a range from Rs. 500 to Rs. 2500 per day, ensuring that you can select an amount that aligns with your financial comfort and healthcare requirements.
Is maternity coverage included in the HDFC ERGO Hospital Cash Insurance Plan?
Ans: No, the HDFC ERGO Hospital Cash Insurance Plan does not cover maternity-related expenses. It is essential to be aware of the plan’s exclusions and consider additional maternity coverage if needed to ensure comprehensive protection during pregnancy and childbirth.
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Disclaimer:
The information presented on this blog regarding insurers, their products, services, or offerings is exclusively for informational purposes. It may be subject to updates without prior notification and should not be construed as professional advice or a suggestion to obtain any specific insurance product or service. Your reliance on such information is entirely at your own discretion and risk.