Tata AIG Individual Accident & Sickness Hospital Cash

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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)
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
Policy Term (years)		1
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
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
Customer Service
Address		Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01
Mail to		customersupport@tata-aig.com
Call to		1800-266-7780
SMS		TAG to 5616181
Network Hospitals		Http://emeditek.co.in/Network_Provider.aspx

 

	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

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