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Tata AIG Individual Accident & Sickness Hospital Cash

Objective

This is a standalone cash benefit policy that aims to provide daily cash for medical expenses arising due to an accident or sickness.


Suited for

This policy can be bought as an individual or family policy covering insured member, spouse and up to 2 children.


What does it do?

If the insured member is hospitalised due to an accident or sickness, the insurance company will pay a daily cash amount up to the stated limit. Accidental medical expenses incurred without hospitalisation are also covered on reimbursement basis. The policyholder can utilize the daily cash as required by him.


Pros

It offers a 5 per cent increase in sum insured on renewal.
Premium paid towards this policy will be eligible for tax deduction under Section 80D of Income Tax Act.


Our View

In the event of hospitalisation, there are various expenses that remain uncovered under basic insurance policies. These may include cost of transportation, accommodation, food of family members and relatives.
This is a useful policy as the daily cash benefit can be utilized to pay for these expenses. It can be bought as an add on to your existing basic health insurance policy for an added coverage.

Eligibility
Entry Age (years) 
Minimum18; 6 months for children
Maximum50; 18 for children(23 in case child is financially dependent, unmarried, Full time student
in accredited Institute)
Maximum Policy Renewal Age (years)50
Coverage TypeIndividual/ Family
Sum Insured (Rs)As stated in the Scope of Cover. Insured and spouse will be covered for 100% of the sum insured and upto 50% in case of each child for maximum upto 2 children
Policy Term (years)1
No Claim Bonus5% of original benefit is added to the sum insured for a maximum of 5 years
Pre Policy Medical Check UpNot required
Policy TerminationEither of the insurer or insured member may cancel the policy. Insurer may cancel the policy by giving a 7 days notice. Insurer in such a case will refund a proportionate premium as stated in the policy document
Customer Service 
AddressRegistered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01
Mail to[email protected]
Call to1800-266-7780
SMSTAG to 5616181
Network HospitalsHttp://emeditek.co.in/Network_Provider.aspx
Additions to the Plan
Scope of Cover
Sickness Hospital Cashpays daily cash benefit of upto Rs 5000 a day for maximum upto 180 days
Accidental Hospital Cashpays upto Rs 10000 per day to cover incidental expenses for maximum upto 180 days
Accident Medical Expense Reimbursementreimburses medical bills due to accidental injuries on a day to day basis
Exclusions and Waiting Period
Pre-existing diseasesnot covered
No claim period90 days since inception of the policy
Waiting period90 days for Sickness Hospital Cash
Deductible1 day for Sickness Hospital Cash5% for benefit amount for Accident Medical expenses reimbursement
Annual Premium and Benefits
Individual Benefits (in Rs)
Coverage2.75 lakh5.5 lakh10.95 lakh16.4 lakh27.25 lakh
Sickness Hospital500 per day1000 per day2000 per day3000 per day5000 per day
Accident Hospital1000 per day2000 per day4000 per day6000 per day10000 per day
Accident Medical Exp. Reimbursement500010000150002000025000
Annual Premium (in Rs.)
Self only7481482282241626712
Family option2355467088901311021143
Premium rates are inclusive of service tax and cess

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