Group Hospi-Cash
Fixed daily cash benefit for each day of hospitalization, covering non-medical expenses like lost income and transportation.
Group Hospi-Cash
A group hospital cash policy is an insurance plan that provides a fixed daily cash benefit to members of a group (like employees) for each day they are hospitalized, regardless of actual hospital bills. This benefit is intended to help cover non-medical expenses, such as lost income, transportation, or other out-of-pocket costs. Policies often include higher benefits for intensive care unit (ICU) stays and may cover certain day care procedures.
Key Features
Daily cash benefit
A fixed amount is paid for each completed 24-hour period of hospitalization, as specified in the policy schedule.
ICU benefit
The daily cash amount is often doubled for hospitalizations in an Intensive Care Unit (ICU).
Day care procedure benefit
Some policies provide a daily cash benefit for the day of hospitalization for specific day care procedures under 24 hours.
Flexibility
The benefit can cover any expenses including household costs, medical supplies, or to preserve the No Claim Bonus on another policy.
Group-based affordability
Offered through an employer to a group of employees, making the premiums more affordable compared to individual plans.
No bill requirement
The daily benefit is paid based on hospitalization duration — no hospital bills are required to make a claim.
Waiting periods
A waiting period often applies for sickness-related claims, while accident-related hospitalizations are usually an exception.
How to Make a Claim
Simple steps to get your daily cash benefit:
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What is Group Hospital Cash Insurance?
Group Hospital Cash Insurance is a policy provided to a group, typically employees, that offers a fixed daily cash benefit for each day of hospitalization.
How does this policy operate?
Under this plan, the insurer pays a predefined daily allowance for the duration of hospitalization, subject to the limits specified in the policy.
Who can be covered under this policy?
Employees are generally covered, and depending on the policy, their dependents such as spouse and children may also be included.
Can this policy replace group health insurance?
No, it is intended to supplement a standard group health insurance policy by providing additional financial support.
How can the hospital cash benefit be utilized?
The benefit amount can be used to meet non-medical expenses such as daily household costs, travel, attendant charges, or income loss during hospitalization.
Is there a minimum hospitalization requirement?
Yes, most policies require a minimum hospital stay, typically 24 hours, to qualify for the benefit.
Are ICU hospitalizations included?
Yes, many plans offer enhanced daily cash benefits for ICU stays, as per policy conditions.
Is there a cap on the number of days covered?
Yes, the policy defines a maximum number of days for which the daily cash benefit will be payable within a policy period.
Are pre-existing conditions covered under this policy?
Coverage for pre-existing diseases depends on the policy terms and may be included from the start in many group plans.
What documents are required to submit a claim?
Typically, you need hospital admission and discharge summaries, medical reports, policy details, and a duly filled claim form.