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This is an insurance plan that pays out daily cash benefits during hospitalization of the policy holder. It is specifically aimed at people who wish to cushion the impact of unexpected medical expenses.
The cover can be extended to cover spouse and other direct family members.
The policy is designed to ensure that there is no gap or stoppage in the Education of a child which may occur as a result of death /permanent disability of a parent/guardian responsible for the payment of the fees
In addition to the main policyholder, the following lives are also covered on payment of additional premium:
It is renewable annually allowing the policyholder to switch between benefit options
There are three different plan types. Depending on your choice, you will be paid:
For each day of hospitalization, up to a maximum of 30 days in any one year
Premium is based on the age and category of benefit chosen.
Only annual premium payment is allowed.
There is 3 days waiting period after hospitalization before payment can commence.
There is no grace period under this policy.
There is no surrender or terminal benefits under this policy.
This policy allows for tax relief.