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Royal Sundaram Smart Cash Plan

  • Q1. What is Smart Cash Plan?

  • Smart Cash Plan is a product that offers daily cash benefit to the insured for each completed and consecutive 24 hours of hospitalisation due to sickness or accident. This product is not a substitute for Health Insurance but a supplement to Health Insurance covering out of pocket expenses associated with sickness/accidental hospitalization like special diet, conveyance expenses to the Hospital and back, expenses incurred by a family member staying with the patient and so on.

  • Q2. How is Smart Cash Plan different from Health Insurance?

  • Health Insurance reimburses inpatient hospital bills. Smart Cash Plan offers you fixed daily benefits per every completed and consecutive 24 hours spent in hospital. This is aimed in covering the incidental expenses during hospitalisation which are normally not covered under health insurance.
    Smart Cash Plan Insurance is NOT a substitute of Health Insurance. Rather it acts as a supplement.

  • Q3. How is Smart Cash plan different from other existing daily cash policies?

  • Among other benefits, Smart Cash Plan offers higher daily benefit, worldwide coverage, 180 days cover, variety of plans to choose, various special benefits like Critical illness benefit etc.  to name a few.

  • Q4. What is the age limit for availing Smart Cash Plan?

  • The required entry age for an adult is minimum 18 yrs. and that of children is 91 days of age. While there is no maximum entry age under a Silver plan, the maximum entry age for Gold and Platinum plans is upto 70 years. The proposer should be minimum 18 years (completed age) on Policy Start Date. The policy is renewable lifelong.

  • Q5. What is the procedure to make a claim?

  • To make a claim, inform our customer support about hospitalisation. We will forward you the Claim Form. You can also download it from our website.

    You need to submit the duly filled Claim Form with requisite documents within 30 days from the date of discharge.

  • Q6. If a family member covered by the Insurance is hospitalised, to whom will the benefit be paid?

  • Payments shall be made to the Proposer.

  • Q7. How will the cash be paid? How frequently will it be paid?

  • This Insurance plan includes cash benefit. The payment will be made by way of cheque for period of hospitalisation found admissible after we receive the completed Claim Form with supporting documents, which is to be submitted within 30 days after discharge. Additional benefits if applicable shall also be paid along with the claim settlement.

  • Q8. Is hospitalisation always necessary to get a claim?

  • Yes. This is a pre-requisite. Hence, unless the insured person is hospitalized for a condition warranting hospitalisation, no claim is payable under this policy.

  • Q9. How many days of benefit will be covered by the policy for instance if a person is hospitalised on 10th May and discharged on 20th May?

  • Every consecutive and completed 24 hours shall be counted as a day. Hence the time of admission and time of discharge are crucial to decide on count of days for claim settlement. In the example under reference, if the person was admitted at 5 pm on 10th May and discharged at 10 am on 20th May, then 9 days of hospitalisation shall be considered for claim admissibility.

  • Q10. What happens when I have to undergo a procedure like Dialysis, and got discharged on the same day?

  • Daily benefit is not payable in this case, as there is no complete 24 hours of hospitalisation. However, if the stay exceeds 24 hours due to complications arising out of the procedure, the claim is admissible. Please also note that daily benefit for day care procedures is not covered under the policy.

  • Q11. Do I need a Health Insurance Policy to avail Smart Cash Plan?

  • No, you need not have a Health Insurance Policy to avail Smart Cash Plan. However, it is prudent to cover your loved ones and let not medical expense affect your savings.

  • Q12. I already have a Health Insurance Policy with another Insurance company. Can I avail Royal Sundaram's Smart Cash Plan?

  • Yes, you can.

  • Q13. Will Smart Cash Plan cover maternity?

  • A lump sum benefit amount of ₹ 10000/- and ₹ 20000/- is payable under Gold and Platinum Plan respectively in the event of hospitalisation resulting in Child Birth.

  • Q14. What is the coverage provided under pre-existing disease benefit?

  • A chosen daily benefit or ₹ 5000/- whichever is lower is payable under Gold & Platinum plans for a maximum of 5 days per policy year for hospitalisation due to pre-existing diseases.

  • Q15. Explain ‘Emergency Family Member visit from abroad’?

  • Under this benefit, when a claim is admissible under critical illness benefit for insured parents, spouse or children, the flight ticket charges incurred for emergency travel from abroad to India up to a maximum of ₹ 1 lakh is payable per person per policy year. This benefit is available only for Platinum plan customers.

  • Q16. Does Smart Cash plan operate worldwide?

  • Yes. Smart Cash plan operates worldwide for Personal Accident benefit. Further Hospital Confinement Benefit stands extended when unexpected hospitalisation happens whilst on a trip abroad on an official or a holiday visit.

  • Q17. What are the exclusions under Smart Cash Plan?

  • A few important exclusions are 

    • Disease contracted during the first 30 days of commencement of policy
    • Certain treatment/diseases/procedures during first year of policy such as: Congenital Internal Diseases, Cataract, Benign Prostatic Hypertrophy Hysterectomy, Knee / Hip Joint replacement. These are covered from subsequent renewals
    • Convalescence, general debility, `Run-down’ condition or rest cure, Congenital External Disease or defects or anomalies, Venereal disease, intentional self injury or attempted suicide
    • Hospitalisation for evaluation and / or diagnostic purposes.
    • Treatment of obesity and any other weight control programs, services or supplies
    • Treatment of psychiatric and psychosomatic disorders, mental or nervous conditions, insanity.
    • Any other Alternative Treatments except Allopathy (Modern Medicine)

    For more detailed information about the coverage and exclusions, please refer the Terms and Conditions of the policy.

  • Q18. Do I have to undergo any medical tests to avail the Policy?

  • Yes. Persons who are above 60 years of age who opt for platinum plan or who request for conversion from existing plan to another plan, may be required to submit their medical examination reports. Following shall be the medical tests required:

    Mandatory MER, HBA1C, ECG Printout, Lipid Profile, Hb, S.Creatinine, Liver Function Tests will have to be submitted. These reports should be dated not prior to 30 days from the date of requisitioning. For accepted proposals, the cost of medical check-up undertaken shall be reimbursed by the Company @ 100% for policies with more than 1 year tenure and @ 50% for policies with tenure of 1 year.

  • Q19. Is there any other benefit of availing Smart Cash Plan?

  • Yes. You can get a relief on your Income Tax under section 80 D, Income Tax Act 1961.

  • Q20. If I wish to cancel my Policy, will I get a refund for the same?

  • If for any reason you wish to opt out of the Insurance, the premium for the period at risk shall be retained as per the short period rates and balance shall be refunded. No refund shall happen on policies where a claim is notified or settled. Please refer to our Terms and Conditions page for more information on this.