Objective

A standalone policy that aims at providing a daily cash amount to insured member(s) to meet incidental or additional expenses which are otherwise not covered by other insurance policies.

Suited for

This policy can be used as an add-on policy. Anyone aged between 18 and 60 years may go for this policy to enhance the scope of coverage. It can cover a family including husband, wife and dependent children under one single policy.

What does it do?

This is a supplementary policy which pays a cash benefit ranging from Rs 500 to Rs 2,500 upon each continuous and completed stay of 24 hours in a hospital. Daily cash benefit can be availed for a maximum of 30 or 60 days per policy year as opted for at the time of buying the policy. The daily cash benefit doubles if treatment was taken in ICU. This cash amount can be utilized to pay for non-medical expenses such as attendant's food, travel and stay which may remain uncovered even if you have a basic health insurance cover. However, it is solely left at the discretion of insured member as to how to make use of this daily cash benefit.

Pros

Family discount of 5 per cent is available.
Premium paid towards this policy is eligible for tax benefit under section 80D of Income Tax Act.

Our View

This policy may be bought as an add on policy provided the prospective buyer is adequately covered against basic health calamities. Buy only if you feel a real need. There are various insurance companies which have already incorporated daily cash benefit as one of the benefit in their comprehensive policies. So a standalone policy is not required in such cases.

Eligibility

Entry Age (years)

Minimum

18; 3 months for children

Maximum

60; 21 for children

Maximum Policy Renewal Age (years)

61

Coverage Type

Individual/Spouse/Dependent Children

Policy Term (years)

1

Sum Insured (Rs)

Maximum

Daily cash amount of 2500

Minimum

Daily cash amount of 500

Tax Benefit

Tax benefit under Section 80D is available

Discount

Family discount of 5% is applicable

Policy Termination

Insurance company and policyholder are allowed to terminate the policy by giving a written notice of 7 days. In case no claim has been made under the policy, percentage of premium will be refunded if policy is terminated by the insurance company

Customer Service

Address

Bajaj Allianz General Insurance Company Limited. GE Plaza, Airport Road, Yerawad, Pune - 411006

Mail to

customercare@bajajallianz.co.in

Call to

1800 225858(BSNL/ MTNL); 1800 1025858 (Bharti users- mobile/ landline) or 020 30305858

Scope of Cover

Sickness Hospital Cash and ICU Cash

(a) Daily Cash Amount for each continuous and completed 24 hours hospitalisation upto maximum of 30/60 days per policy year. (b) Twice the Daily Sickness Cash amount for each continuous and completed period of 24 hours stay in ICU upto a maximum of 7 days per policy year.

Accident Hospital Cash and Accident ICU Cash

(a) Daily Cash Amount for each continuous and completed 24 hours hospitalisation upto maximum of 30/60 days per policy year. (b) Twice the Accident Daily Cash amount for each continuous and completed period of 24 hours stay in ICU upto a maximum of 7 days per policy year.

Exclusions and Waiting period

Waiting perod

Any disease contracted during the first 30 days of commencement of the policy except for accidental emergency.For specific diseases cover starts after one year

Pre Existing Diseases

Not Covered

General Exclusions

Cancer, AIDS or related diseases.Non Allopathic treatment, Beauty, slimming or cosmetic surgery or treatment.Involvemnent in any criminal activity or war, riots or related condition.