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Life Insurance Primers
Friday 21 December 2007
Hospital Cash Benefit Rider
Friday 21 December 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 |
