You know that a health insurance policy, commonly called a mediclaim policy, picks up the tab for your hospitalisation. You may also be familiar with a critical-illness policy that pays a fixed amount on the diagnosis of a critical illness. However, did you know that there is a policy that offers you daily cash for the period of hospitalisation?
It is called a hospital cash policy, and it is a defined benefit policy that pays you a fixed amount on hospitalisation. The policy is structured to offer daily cash to meet other medical and non-medical expenditure during your stay in the hospital but there are caveats to keep in mind. Here is a quick run down of hospital cash policies.
