Health Insurance 308 views May 15, 2021

During a medical emergency, health insurance takes care of our finances by providing coverage against treatment expenses. During hospitalization, people need to pay for different expenses daily. HDFC ERGO Hospital Daily Cash Rider could be a perfect rider plan for you as it provides a daily cash allowance to a policyholder if he/she suffers an illness or injury that needs hospitalization.

This plan from HDFC ERGO is an additional rider plan that can only be purchased along with the base health insurance plan and cannot be purchased as a separate product. We are mentioning its prominent features so that you can make a better decision when purchasing it. Have a look!

  1. In-patient hospitalization benefit
  2. Multiple sum insured options
  3. Intensive Care Unit (ICU) benefit
  4. Sum insured enhancement at the time of renewal
  5. Option to pay a premium in installments
  6.  Multi-year policy premium discounts
  7. Family discount
  8. A 15-day free look period

Now you would want to understand these features of the HDFC ERGO Hospital Daily Cash Rider in detail. On this page, we will be doing the same so that you don’t have any second thought when purchasing this rider plan. Let’s start!

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Let’s Understand the Features of the HDFC ERGO Hospital Daily Cash Rider in Detail

HDFC ERGO Hospital Daily Cash Rider helps policyholders manage the daily expenses during the hospitalization for the due treatment. We are showing the benefits of this rider plan in detail below. Please check!

Multiple Sum Insured Options

With this rider option from HDFC ERGO, you can choose from three sum insured options that will be in the form of an allowance per day of your hospitalization. These options are INR 1,000, 2,000 and 3,000 per day.

In-patient Hospitalization Benefit

If a policyholder has an illness or injury that needs hospitalization during the policy period, this rider will provide a daily cash amount for a maximum of 30 days per policy year for each continuous and completed 24 hours.

The minimum cash amount stands at INR 1,000 per day and can go up to INR 3,000 per day of your hospitalization.

Intensive Care Unit Benefit

If an insured person needs to get hospitalized and admitted to an Intensive Care Unit (ICU) for the treatment, this rider plan will provide twice the daily cash amount for a maximum of 30 days per policy year (for each continuous and completed 24 hours).

With this benefit, policyholders will get a minimum of INR 2,000 (2 x 1,000) per day, while the maximum can be INR 6,000 (2 x 3,000) per day for a maximum of 30 days.

Note: You will not get daily cash benefits when you are availing of the ICU Benefit (during the time you are in an ICU Unit).

Sum Insured Enhancement

The sum insured under the HDFC ERGO Hospital Daily Cash Rider will remain the same throughout your policy period. However, if you want to switch to any other available sum insured option, you can do the same at the time of renewal of your policy.

Discounts on Premiums

If you pay the premium towards a 2 and 3-year policy as a lump sum amount, you will get a discount of 7.5% and 10%, respectively.

Also, if two or more family members are covered under the individual sum insured plan, you will get a family discount of 10% on the premium amount.

Premium Payment in Installments

This rider plan also provides the option to pay the premium in installments apart from the lump sum payment option. These installment options are monthly, quarterly and half-yearly. However, the premium payment mode under the rider plan will be the same as the mode chosen in the base plan.

What is the Policy Period of HDFC ERGO Hospital Daily Cash Rider?

For this rider plan from HDFC ERGO, individuals can choose from different policy term options – 1, 2, and 3 years depending on the period of your base health insurance plan.

Free Look Period

HDFC ERGO Hospital Daily Cash Rider also provides a free look period of 15 days from the date of policy receipt. Within this period, policyholders can review the terms and conditions of the policy and return on finding them unsatisfactory.

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