Tata AIG Individual Accident & Sickness Hospital Cash
This is a standalone cash benefit policy that aims to provide daily cash for medical expenses arising due to an accident or sickness.
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.
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.
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.
|Entry Age (years)|
|Minimum||18; 6 months for children|
|Maximum||50; 18 for children(23 in case child is financially dependent, unmarried, Full time student |
in accredited Institute)
|Maximum Policy Renewal Age (years)||50|
|Coverage Type||Individual/ 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 Bonus||5% of original benefit is added to the sum insured for a maximum of 5 years|
|Pre Policy Medical Check Up||Not required|
|Policy Termination||Either 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|
|Address||Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01|
|Mail to||[email protected]|
|SMS||TAG to 5616181|
Additions to the Plan
|Scope of Cover|
|Sickness Hospital Cash||pays daily cash benefit of upto Rs 5000 a day for maximum upto 180 days|
|Accidental Hospital Cash||pays upto Rs 10000 per day to cover incidental expenses for maximum upto 180 days|
|Accident Medical Expense Reimbursement||reimburses medical bills due to accidental injuries on a day to day basis|
|Exclusions and Waiting Period|
|Pre-existing diseases||not covered|
|No claim period||90 days since inception of the policy|
|Waiting period||90 days for Sickness Hospital Cash|
|Deductible||1 day for Sickness Hospital Cash5% for benefit amount for Accident Medical expenses reimbursement|
|Annual Premium and Benefits|
|Individual Benefits (in Rs)|
|Coverage||2.75 lakh||5.5 lakh||10.95 lakh||16.4 lakh||27.25 lakh|
|Sickness Hospital||500 per day||1000 per day||2000 per day||3000 per day||5000 per day|
|Accident Hospital||1000 per day||2000 per day||4000 per day||6000 per day||10000 per day|
|Accident Medical Exp. Reimbursement||5000||10000||15000||20000||25000|
|Annual Premium (in Rs.)|
|Premium rates are inclusive of service tax and cess|