• Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan

    Life Insurance
    • Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
    • Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
    • Do more with plans that offer pure protection, retirement planning and investment options

    The Hospi Cash Benefit Rider is an additional health insurance plan that you can attach to a base plan from Bharti AXA. This rider provides a fixed amount for each day that you are hospitalised. In case of being admitted to an Intensive Care Unit, you will receive a higher sum. If you are undergoing a surgery, then the rider will pay out a lump sum benefit. Premiums for this rider are affordable and are also eligible for tax benefits.

    Eligibility - Who is the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan for?

    In order to avail a rider plan from Bharti AXA Life, one must meet certain eligibility requirements stipulated by the insurer. Given below are important details of the eligibility criteria of the Bharti AXA Life Hospi Cash Benefit Rider:

    Particulars Details
    Minimum Entry Age 91 days
    Maximum Entry Age 65 years
    Minimum Premium Based on age, gender and sum assured
    Maximum Premium Based on age, gender and sum assured
    Coverage Period 5, 7, 10, 15, and 20 years

    *Ages mentioned are ages last birthday

    Sum Assured and Premium Range - What you get and what the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan costs?

    Listed below are the details pertaining to the sum assured and premiums of this plan:

    Particulars Details
    Minimum sum assured Rs.1,000 daily cash
    Maximum sum assured Rs.3,000 daily cash
    Policy term 5, 7, 10, 15, and 20 years
    Premium payment terms Regular Pay
    Premium payment frequency Monthly (through ECS only), quarterly, semi-annually and annually

    *Premiums vary based on age, location, plan term and other factors

    Plan Coverage - What the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan covers?

    With this rider, the life insured is entitled to receive daily hospitalisation cash benefits, ICU cash benefits and lump sum payouts for major and minor surgeries. Given below are the benefits that can be availed with this rider:

    Benefits Details
    Daily Hospital Cash Benefit Payable if the life insured is hospitalised. Daily Hospital Cash Benefit (DHCB)
    • Silver - Rs.1,000
    • Gold - Rs.2,000
    • Platinum - Rs.3,000
    Intensive Care Cash Benefit
    • Silver - Rs.1,000 + 100% of DHCB
    • Gold - Rs.2,000 + 100% of DHCB
    • Platinum - Rs.3,000 + 100% of DHCB
    The DHCB is capped at 40 days of hospital stay in one policy year. ICCB is capped at 10 days of ICU stay in one policy year.
    Surgical Hospitalisation Benefit Major Surgeries
    • Silver - 20 x DHCB
    • Gold - 20 x DHCB
    • Platinum - 20 x DHCB
    Minor Surgeries
    • Silver - 5 x DHCB
    • Gold - 5 x DHCB
    • Platinum - 5 x DHCB
    The maximum surgical benefit in one policy year is limited to 90 x DHCB.
    Tax Benefits As per the prevailing tax laws.

    Under this rider, the maximum aggregate benefit that can be availed in one policy year is capped at 150 times the DHCB.

    Exclusions - What the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan doesn’t cover?

    Under the following circumstances, Bharti AXA Life will not be liable to pay the benefits under this rider:

    • Benefits are not payable if the rider was surrendered.
    • If the life insured commits suicide, whether sane or insane, within one year from the date of issue or revival. The company is not liable to pay any rider benefits to the nominee.
    • Pre-existing illnesses for the first 48 months.
    • Hospitalisation that is not done in accordance with the diagnosis and treatment of the illness.
    • Hospitalisation during the waiting period for treatments not covered during this period.
    • Any surgery which is not medically necessary.
    • Weight loss or weight reduction treatment.
    • Study and treatment of sleep apnoea.
    • Dental care and dental cosmetic surgery.
    • Infertility, impotency, sex change, abortion, contraception, sterilisation and complications arising from it.
    • Treatment arising out of pregnancy, childbirth and miscarriage.
    • Stay in hospital for which no active regular treatment is carried out by a specialist medical practitioner.
    • Unproven and experimental procedures.
    • Hospitalisation for any other system than allopathy.
    • Mental or psychiatric conditions including depression, dementia, nervous breakdown, insanity, Alzheimer’s or rest cures.
    • Admission to nursing homes of aged homes (except for treatment of acute medical conditions).
    • Alcohol, drug and substance abuse related illnesses or injuries.
    • War, invasion, hostilities, acts of foreign enemies, terrorism, rebellion, civil war, riots, revolution and the like.
    • Full-time service in the armed forces.
    • Sexually transmitted diseases, AIDs and illness caused by HIV.
    • Plastic and cosmetic surgeries unless done to repair damage from accidents, illnesses, acne, alopecia, circumcision and so on.
    • Nuclear disasters, atomic energy and radioactive contamination.
    • Injuries sustained due to violation of laws.
    • Professional sport and other hazardous activities such as scuba diving, racing, ballooning, unless agreed upon by a special endorsement.
    • Donor for organ transplant.
    • Hospitalisation outside of Republic of India.

    Please read the policy brochure or document to know the complete details of the exclusions of this rider.

    Other Key Features – Freelook Period, Surrender Values, Grace Period etc.

    Knowing the details mentioned in your life insurance policy document is very important. These details are mentioned in the policy document and you are advised to read it before purchasing it. Given below are some of the important features of the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan.

    Features Details
    Grace Period As per the base plan.
    Lapse If the premiums are not paid within the grace period, then the benefits will not be payable as the policy will lapse. The rider will expire if the base policy lapses.
    Free-look Period Not available under this plan.
    Loan facility Not available under this plan.
    Surrender Value There is no surrender option under this plan. Therefore, the plan will not acquire a surrender value at any point of time.
    Revival A lapsed rider policy can be revived under the conditions of the base policy. A declaration of good health is required, or medical tests at your own expense might be necessary.
    Termination The policy will terminate upon the following events:
    • Expiration of the rider term.
    • Base plan lapses.
    • Expiry of the reinstatement period.
    Premium Guarantee Premium rates for the rider are guaranteed for 3 years from the issue date. Every three years, the rates will be revised based on Bharti AXA’s experience, and age of the life insured.
    Waiting period There is a 60-day waiting period from the commencement date during which no benefits are payable for treatment of any illness, ailment or disease.
    Waiting period for specific diseases There is a 2 year waiting period for the hospitalisation of certain treatments, procedures and diseases that includes spine disorders, hernia, fibroids, breast lumps, benign enlarged prostrate, hysterectomy, heart valve and coronary artery diseases, gallstones, deviated nasal septum, and so on. For a complete list, please refer to the policy brochure.

    Tax Benefits – How you can save with the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan?

    As per the prevailing tax laws in India, you can claim for tax benefits under Section 80C and Section 10(10 D) of the Income Tax Act, 1961. Tax laws are subject to amendments from time to time. You are advised to consult a tax advisor to maximise your benefits.

    Other Benefits – How you can save with the Bharti AXA Life Hospi Cash Benefit Rider Insurance Plan?

    When you choose Bharti AXA as your insurance provider, you can stand to benefit from the following:

    • Get additional benefits to enhance the coverage of your base plan
    • Get daily hospital cash for up to 40 days of hospital stay in one policy year.
    • Get daily hospital cash for up to 10 days of ICU stay in one policy year.
    • Get a maximum surgical benefit of 90 x DHCB in one policy year.
    • Manage the policy online
    • Contact the customer care through various avenues
    • Pay premiums online
    • You can send an SMS to Bharti AXA to get advice on a policy
    • Get a quote easily online for your insurance policy
    • You can ask for an advisor to guide you
    • Get policy updates through SMSes
    • Download brochures and policy bonds online
    • Register and track claims easily online

    Why you should buy the Life Hospi Cash Benefit Rider Insurance Plan from Bharti AXA?

    Bharti AXA operates on a strong foundation of values such as pragmatism, integrity, professionalism, innovation, and team spirit. Since its inception in 2006, the insurance provider has grown to be a leader and preferred company for financial protection and wealth management in the country. The company has a wide range of insurance products and wealth management services in its portfolio.

    The Hospi Cash Benefit Rider helps a policyholder enhance the benefits they wish to get from their insurance policy. When you are hospitalised, the need for cash to take care of daily expenses arises. This rider can help take care of that and ensure that your family has a net to fall back on during your hospitalisation. Furthermore, if you are undergoing a surgery, then the rider will pay out a lump sum benefit. With highly affordable premiums, this rider insurance plan is a good option to add onto your base plan.

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