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Flipkart-ICICI Lombard insurance to cover hospitalisation cost. Know daily limit, other benefits
1 min read.Updated: 17 Feb 2021, 04:50 PM IST Written By Anulekha Ray
The insurance covers both accidental hospitalisations and planned surgeries or treatments
The cash benefits will be ranged from ₹500 to ₹2,000 per day of hospitalisation
Flipkart has joined hands with ICICI Lombard to offer Hospicash insurance to consumers. Compared to the standard indemnity health insurance policies, Hospicash allows consumers to avail a fixed amount for each day of hospitalisation. The insurance covers both accidental hospitalisations or planned surgeries and treatments. The fixed daily amount enables consumers to pay for incidental medical or emergency expenses.
"Our Hospicash insurance is an affordable and convenient offering that can help consumers meet their daily incidental expenses during hospitalisation," said Sanjeev Mantri, executive director, ICICI Lombard.
The Hospital Daily cash benefit, a sachet-based group insurance product that will offer a fixed amount for each day that you are hospitalised. The cash benefits will be ranged from ₹500 to ₹2,000 per day. The amount that will be paid every day, depends on the coverage chose by the customer at the time of purchasing the policy.
The policy will be issued for a period of one year. The premium starts from as low as ₹278 and can go up to ₹1,089, depending on the policy coverage. The cash benefits will be provided up to a maximum of 90 days in a policy year subject to 10 days per hospitalisation, the company said. The customer needs to be hospitalised for at least 24 hours to claim the benefits.
The minimum and maximum entry age is 18 and 60 years, respectively. It must be noted that there is an waiting period of 30 days to avail the cash benefits. This is applicable for hospitalization at any government or private hospital across the country. Over 6,500 hospitals will be covered under the policy.
"The Hospicash insurance policy also provides consumers an extra allowance to not just cover emergency medical expenses’ but also travel and post-discharge costs and compensation for loss of income during hospitalisation," the insurer said in a statement.
"As consumers increasingly understand the importance of health insurance, we want to ensure that Flipkart is their one stop solution to provide them services for a holistic health protection plan. With Hospicash insurance, consumers can now safeguard themselves against overhead charges which can often result in unnecessary draining of savings," said Ranjith Boyanapalli, head – fintech and payments group, Flipkart.