Hospital Cash Benefit Rider
- Tax BenefitUp to 1,50,000**
- Claim SupportEveryday 10AM-7PM
- 14 Lac+Happy Customers
*Standard Terms and Conditions Apply.
**Tax benefits are subject to changes in Income Tax Act.
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What is a Hospital Cash Rider?
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Eligibility Criteria of Hospital Cash Rider
The eligibility criteria for Hospital Cash Rider is as follows:
Eligibility Criteria for Hospital Cash Rider
Minimum Entry Age
Maximum Entry Age
Maximum Maturity Age
Minimum - Same as base policy’s sum assured
Maximum - No Limit
Coverage Time Period
Same as base policy’s term
Premium Payment Term
Same as base policy’s term
Premium Payment Mode
Same as premium payment mode of the base policy
Documents Required for Hospital Cash Rider Claims
Following is the list of documents required while reporting a claim for Hospital Cash rider:
- Policy Documents Original/Copy
- Filled Claim Duly Filled
- Photo ID Proof of Policyholder
- Address Proof of Policyholder
- Attending Medical Practitioner's Certificate
- Medical Test Reports
- Nominee’s Photo ID Proof
- Nominee’s Address Proof
- Copy of policyholder’s bank statement/cancelled cheque
- Medical Reports (stating the life assured’s diagnosed illness)
Hospital Cash Rider Exclusions
The list of exclusions under Hospital Cash rider includes:
- Pre-existing medical conditions
- Hereditary Medical Conditions
- Weight Reduction Treatment
- Any hospitalization outside India
- Attempt to suicide or self inflected injuries
- Drug Abuse/Overdose
- Participation in civil commotion, riots, war or rebellion activities
Things to Remember About Hospital Cash Rider
Here is a list of a few key things you must keep in mind regarding the hospital cash rider:
- The Hospital Cash Rider can only be purchased along with the base term insurance policy and not separately.
- The rider does not come with its individual waiting period. It follows the waiting periods of the base term policy.
- The rider comes with a vast array of options to choose from for premium payment such as monthly, yearly, and more.
- A policyholder can avail the hospital cash rider benefits by paying an additional premium price.
- The rider can terminate upon the termination of the expiration of the rider term, lapse of the base plan and expiry of the reinstatement period.
The hospital cash benefit rider is not a compulsion for a term insurance policy buyer. The policyholder is free to add the rider to their base term insurance policy if they find it beneficial for them in the future. If you wish to opt for the rider it is highly recommended that you go through the policy wordings carefully.
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