Sudden hospitalization? Solution; Hospital Cash Benefit Rider
This benefit rider coupled with your life insurance will ensure that monetary issues do not bother you in event of unfortunate hospitalization for an ailment.Apnainsurance Research Bureau
21 Dec 2007
The Hospital Cash Benefit rider comes in handy when the insured has a sudden hospitalization on his/her hands. In the event of hospitalization during the term of the life insurance policy, a daily hospital cash amount is payable to the insured if she/he is hospitalized for more than two/three days due to any injury, sickness or disease. The amount of reimbursement could be a proportion of the room charge in hospital or the eligible daily hospital cash amount, whichever is lower.
Like the critical illness rider, insurance companies often have a maximum limit for the hospital cash benefit rider and a clause that states that benefits will be paid only if hospitalization occurs after two/three months of commencement of the policy.
If this benefit is claimed along with the critical illness rider, the insurance company may no longer offer the hospital cash benefit rider to the insured and further premiums for this rider then would not be applicable.
See also:
Accidental Death Benefit Rider
Accidental Disability/Dismemberment Benefit Rider
Critical Illness Benefit Rider
Guaranteed Insurability Option Rider
Life Guardian Benefit Rider
Waiver of Premium Rider
Term Rider
FAQs on Life Insurance Basics
Life Insurance FAQs on Premiums
Life Insurance FAQs on Claims
Life Insurance FAQs on Insurance Company and Insurance Agent