Health Insurance 417 views August 5, 2021

Chola Credit Linked Group Hospital Cash Insurance Plan helps individuals under a group obtain coverage against hospitalization expenses. This policy is suitable for those individuals who have taken any loan. Insured members can enjoy several benefits in case of an illness, sickness or accident.

Let’s check the prominent benefits of the plan mentioned below before we discuss them in detail.

  1. Daily Benefit for Normal Hospitalization
  2. ICU Hospitalization Benefit due to Sickness or Accident
  3. Day Care Procedure Daily Benefit
  4. Convalescence Benefit
  5. Accompaniment Benefit for Parent or Children Hospitalisation
  6. Childbirth Benefit
  7. Hassle-free Claim Procedure

Continue reading this page to understand the benefits of the plan in detail. Let’s start! 

Let’s Discuss the Benefits of Chola Credit Linked Group Hospital Cash Insurance Plan in Detail

If an insured member needs to get hospitalized for more than 24 hours during the policy period, the policy will pay a daily benefit. The policy will also cover a few listed day care procedures. We have mentioned some of them below. Please check.

  1. Stapedotomy
  2. Stapedectomy
  3. Revision of a Stapedectomy
  4. Other operations on the auditory ossicles
  5. Myringoplasty (Type I tympanoplasty)
  6. Tympanoplasty (closure of an eardrum perforation and reconstruction of the auditory
  7. Revision of a tympanoplasty
  8. Other microsurgical operations on the middle ear
  9. Mastoidectomy
  10. Reconstruction of the middle ear
  11. Other excisions of the middle and inner ear
  12. Fenestration of the inner ear
  13. Revision of fenestration of the inner ear
  14. Nasal sinus aspiration
  15. Glossectomy
  16. Radiotherapy for Cancer

Base Coverage

Daily Benefit for Normal Hospitalization (Sickness or Accident)

If an insured person needs to get hospitalized due to a sickness/illness or accident (during the policy term) for a continuous and completed 24 hours or undergo one of the listed day care procedures, the policy will pay a daily benefit.

Daily Benefit for ICU Hospitalization (Sickness or Accident)

Chola Credit Linked Group Hospital Cash Insurance will provide a daily benefit if the insured person is hospitalized (during the policy period) in an ICU due to an illness or accident.

Note: Whenever ICU benefit is admissible under the plan, you will not get coverage under daily benefit for a normal hospitalization.

Optional Covers

Insured members can choose from several optional covers by paying an additional premium. We have discussed them below. Please check.

Convalescence Benefit

If an insured member under the group is hospitalized for more than ten consecutive and completed days, the policy will provide a lump sum amount once in a policy period. This benefit will be over and above the the base cover benefit

Accompaniment Benefit for Parent Hospitalisation

In case an insured member aged above 60 years needs hospitalization, the policy will pay a lump sum amount equal to five times the daily benefit for normal hospitalization due to sickness. This benefit will be given once in a policy year.

Accompaniment Benefit for Children Hospitalisation

If an insured member aged 12 years or less needs to get hospitalized, you will get five times the daily benefit for a normal hospitalization (due to sickness) as a lump sum amount.

Child Birth Benefit

Under this benefit, if an insured person is seeking admission in a hospital resulting in childbirth, the policy will provide coverage up to five times the chosen daily benefit for normal hospitalization. You will need to keep in mind the following conditions regarding this add-on benefit.

  1. Only female insured members will be eligible to get this benefit.
  2. This benefit will be applicable only after a waiting period of nine months from the start of the policy.
  3. Insured members will get this benefit up to a maximum of two living children.

Chola Credit Linked Group Hospital Cash Insurance Plan Eligibility Criteria

Please check the conditions mentioned below that an individual needs to fulfill before purchasing the plan.

  1. Minimum Age at Entry – 18 years
  2. Maximum Age at Entry – 65 years
  3. An individual should have availed of any type of loan from banks, financial institutions or such aggregators.

What is Not Covered Under the Plan?

Insured members under the group will not get coverage in case of the following.

  1. Naturopathy treatments
  2. Any non-allopathic or alternative treatments
  3. Hospitalization towards pregnancy, childbirth and their consequences
  4. Cosmetic treatments
  5. Circumcisions
  6. Sterility
  7. Sexually transmitted disease or illness
  8. Any dental treatment or surgery
  9. Any external congenital diseases, defects or anomalies
  10. Diagnostic X-rays or lab examinations
  11. Vaccination or inoculation unless forming a part of post-animal bite treatment
  12. Fitting of hearing aids, contact lenses or eyeglasses
  13. Experimental or unproven treatment

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