• Royal Sundaram Smart Cash Plan

    Health Insurance
    • Enjoy options to cover yourself, your spouse, kids and even your parents
    • Enjoy access to 10,000+ hospitals for cashless treatment
    • Reduce your taxable income by up to Rs. 50,000 deduction under section 80D**

    A comprehensive health insurance plan provides coverage against the medical expenses incurred by the insured. However, additional expenses such as food, travelling, items of personal comfort, etc. must still be paid from hand. Daily cash allowance plans are developed by insurers to provide assistance for these kinds of expenses. Royal Sundaram Smart Cash Plan is one such daily cash plan that provides a fixed amount of cash for every single day of hospitalisation. This policy also offers various value-added benefits like ICU benefit, critical illness benefit, childbirth benefit, etc. in addition to the fixed daily cash allowance.

    Eligibility for Royal Sundaram Smart Cash Plan

    The following eligibility criteria must be met by a person before signing up for Royal Sundaram Smart Cash Plan:

    • The age of the proposer must be at least 18 years.
    • There is no maximum entry age under the silver plan.
    • The entry age for gold and platinum plans are capped at 70 years.
    • Dependent children can be enrolled from the age of 91 days.
    • Lifelong renewability option is available as long as there is no break in policy.

    Features of Royal Sundaram Smart Cash Plan

    Some of the notable features of Royal Sundaram Smart Cash Plan can be listed as follows:

    • This policy is available in three different plan types: silver, gold, and platinum.
    • The daily cash benefit available under this policy ranges from Rs.500 to Rs.10,000 depending upon the plan type and the sum insured amount chosen by the insured.
    • If 3 or more family members are enrolled in this policy, a family discount of 10% can be obtained.
    • Policyholders have the option of choosing a policy term up to 3 years. A long-term discount of 10% is available for a 2-year term and 12.5% is available for a 3-year term.
    • All pre-existing diseases have a waiting period of 48 months of continuous policy coverage.
    • There is an initial waiting period of 30 days from the date of commencement of the policy cover. This does not apply for accidental hospitalisation and renewals.
    • For certain conditions like hernia, hydrocele, fibromyoma, cataract, etc., a 12-month waiting period is applicable.
    • For people over the age of 60 years, a pre-policy medical examination is required when enrolling under the platinum plan. The company will reimburse 50% of the examination costs (100% if 2 or 3-year policy term is chosen) if the policy is accepted.
    • There is a grace period of 30 days for renewing this policy cover after the date of expiry.
    • A free look period of 15 days is available from the date of inception of the policy. During this period, the policy can be returned without any charges if the terms and conditions are not satisfactory.
    • The premium amount paid for this policy is eligible for tax relief as per Section 80D of the Income Tax Act.

    Benefits of Royal Sundaram Smart Cash Plan

    The range of benefits available under Royal Sundaram Smart Cash Plan can be given as follows:

    Benefits Extent of Coverage
    Sickness hospitalisation benefit Rs.500 to Rs.10,000 based on the plan and the sum insured amount chosen (Covered for up to 180 days in a policy year)
    Accidental hospitalisation benefit Double the sickness hospitalisation daily cash amount for up to 15 days in a policy year
    Critical illness benefit Silver plan - Rs.10,000 Gold plan - Rs.15,000 Platinum plan - Rs.20,000 (Covered for 7 listed critical illnesses that includes cancer, stroke, kidney failure, etc.)
    Convalescence benefit Rs.10,000 for all plans if the hospitalisation exceeds 15 days
    Joint hospitalisation Double the daily cash benefit when two or more members covered under the policy are hospitalised due to an accident
    Pre-existing diseases benefit Chosen daily benefit subject to a maximum of Rs.5,000 per day for a maximum of 15 days in a policy year (only in gold and platinum plans)
    Child birth benefit Silver plan - nil Gold plan - Rs.10,000 lump sum payment Platinum plan - Rs.20,000 lump sum payment
    Intensive care benefit Double the daily cash benefit for a maximum of 5 days in a policy year (only in platinum plan)
    Personal accident cover (optional) Rs.10 lakh, Rs.15 lakh, or Rs.25 lakh upon payment of additional premium

    Exclusions of Royal Sundaram Smart Cash Plan

    Some of the notable exclusions of Royal Sundaram Smart Cash Plan can be given as follows:

    • Intentional self-injury and suicide attempt
    • Expenses related to routine or preventive examinations
    • Cost of vaccinations, inoculation, or screening
    • Expenses related to the treatment of psychiatric disorders
    • Congenital diseases, birth defects, and anomalies
    • Venereal diseases and sexually transmitted diseases
    • General debility and run-down condition
    • Expenses related to outpatient treatment charges

    Claim Procedure

    The company must be intimated at least 24 hours before planned hospitalisation or within 24 hours of emergency hospitalisation. While intimating the company, it is necessary to provide details like policy number, name, nature of illness/injury, name of the hospital facility, etc. The claim can be submitted within 30 days from the date of discharge.

    The claim form must be accompanied by documents such as photocopy of bills, cash receipts, discharge certificate, FIR copy (in case of accident), medical records, physician certificate, etc. Once these documents are submitted, the company will verify the claim and communicate its acceptance/rejection to the insured. In case of rejection, it will be accompanied by a suitable reason. For all valid claims, the settlement amount will be provided within a reasonable time from the date of acceptance.

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