Hospital Cash Insurance

ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED

Royal Sundaram Alliance Insurance Company Limited was the first private insurer in India to be licensed post privatization in 2001.

They are a result of a joint venture of Sundaram Finance, which is one of the most respected non-banking financial institution in India and RSA, one of the oldest and second largest general insurer in the UK.

Another one of their health insurance plans is the Hospital Cash Insurance.

The SALIENT FEATURES of this policy are:

· There are no medical tests

· This covers self, spouse, dependent children as well as dependent parents

· Up to 180 days of hospitalization cash benefit

· Double accident benefit

· Triple ICU benefit

· For each 24 hour period of hospital confinement, the benefit payable is the daily sum insured as per the plan selected by policyholder

· Accident benefit is payable only in excess of first 24 hours of confinement

· Accident benefit payable will be increased to double the illness benefit for each 24 hour period of hours of confinement, resulting from the insured person sustaining injury due to road, rail or air accident

· Accident benefit is payable up to a maximum of 21 days during the entire policy period

· ICU benefit payable will be increased to triple the illness benefit for each 24 hour period of hospital confinement, where an insured is being confined to an intensive care unit for a maximum of 21 days during the policy period

· Under Convalescence benefit a fixed lump sum amount as per chosen plan is payable if the confinement in hospital exceeds 21 consecutive days

· Convalescence benefit is payable only once in the policy period

· Lump sum payment of 2% of sum insured if hospitalization exceeds 15 consecutive days and where liability is admitted for hospitalization

· Pre-existing diseases will be covered after a waiting period of 4 continuous years

KEY BENEFITS:

BENEFITS

SILVER PLAN

GOLD PLAN

Illness Hospital Confinement

Rs.500 per day

Rs.1000 per day

Accident Hospital Confinement

Rs.1000 per day

Rs.2000 per day

Intensive Care Benefit

RS.1500 per day

Rs.3000 per day

Convalescence Benefit

Rs.7500 lump sum

Rs.15000 lump sum

AGE LIMIT:

· Apart from self and spouse, dependent children and dependent parents

· Persons taking insurance under this plan have to between the age of 1 year and 60 years at the commencement date of the policy

· Renewals are accepted up to the age of 70 years

PREMIUMS:

AGE OF INSURED

SILVER PLAN (Rs.)

GOLD PLAN (Rs.)

1-45 years

785/-

1473/-

46-60 years

1178/-

2258/-

61-70 years (applicable only for renewals)

1570/-

3043/-

· The premium amounts given above are inclusive of Service Tax of 10.3%

· The premium paid towards the health insurance is exempt from Income Tax under section 80D

EXCLUSIONS:

· All diseases/injuries existing at the time of proposing the insurance.

· Any disease contracted by the insured during the first 30 days from the commencement of the cover

· First year exclusions are for treatment of (except if caused due to an accident):

· Congenital internal diseases

· Any type of migraine/vascular headache

· Stones in the urinary and biliary systems

· Surgery on tonsils/adenoids

· Gastric and duodenal ulcer

· Any type of cyst/nodule/polyps

· Any type of breast lump

· Spondylosis

· Any type of inter vertebral disc prolapse and such other degenerative disorders

· Cataract

· Benign prostatic hypertrophy

· Hysterectomy

· Fistula

· Fissure in anus

· Piles

· Hernia

· Hydrocele

· Sinusitis

· Knee/hip joint replacement

· Chronic renal failure

· Heart disease

· Any type of carcinoma/sarcoma/blood cancer

· Osteoarthritis of any joint

· Injury or disease caused due to war invasion

· Circumcision unless necessary for treatment of a disease

· Cost of spectacles, contact lenses and hearing aids

· Any dental treatment or surgery which is a corrective, cosmetic or aesthetic procedure, including wear and tear, unless arising from accidental injury and which requires hospitalization for treatment

· Convalescence general debility “run down” condition or rest cure, congenital external disease or defects or anomalies, sterility, venereal disease, intentional self injury and use of intoxicating drugs/alcohol

· All expenses arising out of any condition due to AIDS and HIV

· Charges incurred at a hospital/nursing home for diagnostic, X-ray or laboratory examinations not consistent with any ailment, sickness or injury

· Expenses on vitamins and tonics unless forming part of treatment for injury or disease

· Injury or disease caused by nuclear weapons or materials

· Treatment arising from pregnancy, childbirth, miscarriage, abortion or complications of caesarean section

· Any treatment other than allopathic system of medicine

· Any routine or preventative examinations, vaccinations, inoculation or screening

· Outpatient treatment charges

· Sex change or treatment that results from or to sex change

· Hormone replacement therapy, cytotron therapy

· Cost of allopathic treatment if administered by non-allopathic practitioner

· Treatment of obesity and any weight control programs

· Treatment of psychiatric, mental, nervous or condition of insanity

· Any cosmetic, plastic surgery, aesthetic or related treatment of any description

· Use of intoxicating drugs or alcohol

· Any stay in hospital for any domestic reason

· Any treatment received outside India

· Any ayurvedic, homeopathic or naturopathic treatment

· Any fertility, sub-fertility or assisted conception treatment

· Any person engaged in hazardous activities like bungee jumping, parasailing, parachuting, etc

The Royal Sundaram health insurances can either be bought online from www.royalsundaram.in or from their toll free number 1800-345-8899

ADDITIONAL BENEFITS of buying a health insurance policy from Royal Sundaram are:

· There is a family discount of 10% if the policy is taken for 3 or more members from the same family under a single policy

· Cashless facility towards claim reimbursements

· 24-hour helpline number

· Ambulance referral facilities

· Online access to medical and claim information

· Online storage of medical records

· Tie up with over 3000 hospitals across the country

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