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Hospital Indemnity Insurance

Features To Look For In A Hospital Indemnity Insurance Policy

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Features to note in a Hospital Indemnity Insurance policy you are considering purchasing:

  • Amount of daily payment. (Some policies provide for increase in coverage for a stay in a hospital Intensive Care Unit).
  • Whether the amount of the payment is unconditional, or conditioned on other insurance you have.
  • How long the benefit is payable.
  • Who receives the money. Some policies pay you. Others pay the hospital.
  • A pre-existing condition exclusion provides that a stay in a hospital is not covered if the stay is due to a condition which was treated within a period of time prior to admission to the hospital. For example, a policy may provide that no payments will be made if hospitalization is for a condition which was treated within the 12 months which precede the date of admission to the hospital. Hospitalization for other reasons are covered.
  • When payment starts. Some policies start payment on the first day of hospitalization.
  • Whether additional family members are also covered.

Always check the financial reliability of an insurance company. You can do this through rating services such as AM Best ( offsite link) and The Street ( offsite link).

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