Smart Cash Plan is brought to you by Citibank through Royal Sundaram General Insurance Company Ltd. (Royal Sundaram). This plan provides daily cash benefit for each completed and consecutive period of 24 hours stay in the Hospital, due to sickness or accident. This product comes to you with a choice of Silver, Gold and Platinum variants with easy premium payment options.
With the various benefits available with the product, Smart Cash Plan also provides the option to get you covered for a Personal Accident Benefit.
Smart Cash Plan is a daily cash benefit plan that offers a daily payout for every 24-hours of hospitalisation and is brought to you by Citibank through Royal Sundaram General Insurance Company
Even if you have an existing Health Insurance policy, benefit amount from Smart Cash Plan will be paid over and above the medical reimbursement you receive from your Health Insurance policy.
In case of hospitalisation for a consecutive period of more than 24 hours, a daily benefit is payable for a maximum period of 180 days per policy year.
In case of hospitalisation for a consecutive period of 5 days due to air / rail / road accident then double the daily benefit opted will be paid for maximum of 15 days during entire policy period.
In the event when two or more insured persons covered under the same policy are hospitalized concurrently as inpatients during the policy period due to an accident, then Royal Sundaram shall pay double the daily benefit opted for maximum of 5 days during entire policy period.
In the event of hospitalisation duration exceeding a consecutive period of 15 days, a lump sum benefit of Rs.10,000 is payable in addition to Hospital Confinement Benefit. This benefit is payable only once per illness / accident / policy.
A lump sum payment of Rs. 10000/- (for Silver Plan), Rs. 15000/- (for Gold Plan) and Rs. 20000/- (for Platinum Plan) is payable under this policy in the event of diagnosis of any one specific critical illness as mentioned hereunder.
The following critical illnesses are covered under this policy:
Cancer, Multiple Sclerosis, Kidney failure, Open chest CABG, Open Heart Replacement or Repair of Heart Valves, Stroke, and First Heart Attack.
This benefit is payable once during the lifetime of the Insured irrespective of all the Hospital cash Policy of the insured person.
In the event of hospitalisation resulting in child birth a lumpsum amount will be paid basis the plan variant opted.
Condition for Child Birth Benefit:
- This benefit is applicable only under Gold (Rs.10,000) & Platinum (Rs. 20,000)plans and applicable only for female insured person.
- This benefit is payable maximum twice during the lifetime of the Insured Person.
- A waiting period of 2 years from inception is applicable for this benefit.
Hospitalization due to a pre-existing disease shall be covered upto a maximum of 5 days of hospitalisation per person per policy year, for the chosen daily benefit or Rs.5000/- per day whichever is lower.
- The PED benefit shall be payable only after 4 years of continuous insurance from the commencement date of the first Policy.
- Whenever PED benefit is admissible under the Policy, no other benefit will be payable for the period pre-existing disease benefit is payable.
- This benefit is applicable only under Gold & Platinum plans.
Royal Sundaram will reimburse expenses towards master health check-up for the Insured person/s, after a block of 4 consecutive claim free years with Royal Sundaram, up to a maximum of 50% of the average daily benefit chosen of the respective block, per insured person.
This benefit is applicable only under Gold & Platinum plans
Double the Hospital Confinement Benefit chosen will be paid for each completed and consecutive period of 24 hours that the insured person is admitted in an ICU, subject to a maximum of 5 days per policy year.
- Whenever Intensive care benefit is admissible under the Policy, Royal Sundaram will not pay for Hospital Confinement Benefit or Accident Hospitalization Benefit for the period when the insured person is in Intensive Care unit.
- This benefit is applicable only under Platinum plan
In the event of hospitalization of insured person aged 12 years or less and the hospitalization period exceeds a completed and consecutive period of 72 hours parental accommodation benefit shall be payable.
- This benefit will be payable for upto a maximum of 5 days per policy year in addition to hospital confinement benefit for the insured person hospitalized, provided the claim is admissible under Hospital Confinement Benefit.
- This benefit is applicable only under Platinum plan.
In the event of admissible claim under Critical Illness Benefit for hospitalization of insured parents / spouse / children due to critical illness, flight ticket charges incurred by the insured person for emergency travel to India from abroad within a period of 30 days from the date of diagnosis or surgery as applicable, will be payable.
Reimbursement of two way flight charges in economy class upto a maximum of Rs.1 lac per insured person per policy year shall be payable.
This benefit is applicable only under Platinum plan.
You can opt to be covered under Personal Accident benefit. The sum insured choice is basis the plan variant chosen.
- Death - If such injury shall within twelve calendar months of its occurrence be the sole and direct cause of the death of the Insured, the sum insured stated in the relevant section of the policy schedule shall be payable.
- Permanent Total Disablement - If such injury shall within twelve calendar months of its occurrence be the sole and direct cause of the total and irrecoverable loss of organ / limbs defined in the policy wordings.
- Permanent Partial Disablement - If such injury shall within twelve calendar months of its occurrence be the sole and direct cause of the total and / or partial and irrecoverable loss of use or of the actual loss by physical separation of organ / limbs defined in the policy wording, then the percentage of the sum insured as indicated in the table in policy document shall be payable.
- This benefit will be applicable only if additional premium has been paid at inception and coverage is confirmed in the policy schedule.
- Coverage under this section cannot be opted or cancelled once coverage under Smart Cash Plan section has already commenced.
10% family discount will be provided to you, if 3 or more people are covered under Smart Cash Plan.
You will be given a 10% and 12.5% tenure discount when you opt for a 2 & 3 year policy respectively.
Your Smart Cash Plan policy can be renewed automatically every year through standing instructions for payments to be made with your Citibank credit card / Citibank account.
You can avail of tax exemption up to Rs.55,000 Under Sec 80D on the premium paid by you towards Smart Cash Plan (excluding premium paid for Optional Personal Accident coverage). Premium paid on behalf of yourself, your spouse, your dependent children is exempt up to Rs.25,000. Premium paid on behalf of your dependent parents is exempt up to an additional Rs.25,000 and if dependent parents are senior citizens the benefit is extended up to Rs.30,000. This is as per the current tax laws and is subject to change as per amendments made from time to time.
#The above exemption is as per the Income Tax Act 1961 and is subject to change as per amendments made from time to time.
- Customer has to inform the claim to Royal Sundaram General Insurance Company Ltd.
- Obtain the claim form in person / through letter / email / download from website
- Claim form has to be filled by the insured as well as the attending doctor
- Duly filled in claim form along with copy of discharge summary and other applicable documents as specified in the policy have to be sent to Royal Sundaram General Insurance Company Ltd for processing
- Additional documents might be called for if any required.
- Should you wish to cancel your Smart Cash Plan coverage, you can call 24-hour CitiPhone or write to Citibank.
- You can also contact Royal Sundaram General Insurance Company Ltd, through the contact details mentioned in the attached brochure.
- This plan, at inception, has a free look period of 15 days from the date of receipt of policy. On review of the policy terms and conditions, If you are not satisfied with this plan, then you can cancel your plan within this 15 days free look period. You shall be eligible for a refund premium, after deducting applicable risk premium, less the cost of medical examination incurred by the company and stamp duty charges, where applicable, provided your intimation of cancellation reach us within the free look period. Your policy documents will reach you within 15 days from the date of debit of your card / account.
- In case you cancel your coverage after the free look period, refund of premium shall be as per the short period rates mentioned in the policy.
- Citibank customers and their family members.
- Entry Age
Variant Entry Age (Min & Max) Silver 91 days – & No max age limit Gold 91 days & 70 years Platinum 91 days & 70 years
- Renewal is available for Lifelong. Daily benefit sum Insured shall be restricted to Rs.3000/day for persons above 70 years at entry.
- Pre policy checkup (medical tests) can be triggered based on criteria such as age and plan variant opted.
Good Health Group Mediclaim Policy - IRDA/NL-HLT/NIA/P-H/V.I/342/13-14
Group Health Policy - UIN - IRDAI/NLHLT/RSAI/P-H/V.I/184/13-14
Health Forever - UIN-IRDAI/NL-HLT/RSAI/P-H/V.II/211/13-14
Lifeline - UIN-IRDAI/HLT/RSAI/P-H/V.II/32/15-16
Top-up - UIN-IRDAI/NL-HLT/RSAI/P-H/V.I/209/13-14
Smart Cash - UIN-IRDAI/HLT/RSAI/P-H/V.II/181/14-15
Personal Accident Care Platinum - UIN-IRDAI/NL-HLT/RSAI/P-P/V.I/187/13-14
Individual Personal Accident Insurance - UIN-IRDA/NL-HLT/RSAI/P-H/V.I/215/13-14
Apollo Munich Health Plan UIN: IRDA/NL-HLT /AMHI/P-H/V.1/15/13-14
Group Personal Accident Insurance UIN: IRDA/NL-HLT /AMHI/P-P/V.1/109/13-14
Optima Restore UIN - IRDAI/HLT/AMHI/P-H/V.III/1/2016-17
Insurance products are obligations only of the Insurance company. They are not bank deposits or obligations of or guaranteed by Citibank N.A, Citigroup Inc or any of its affiliates or subsidiaries or any Governmental agency. All claims under the policy will be solely decided upon by the Insurance Company. Citibank, Citigroup or any of their affiliates and group entities hold no warranty and do not make any representation about the insurance, the quality of claims processing and shall not be responsible for claims, recovery of claims, or for processing of or clearing of claims, in any manner whatsoever. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Investment products are not available to US persons and may not be available in all jurisdictions.
Participation by the bank's customers in an insurance product is purely on a voluntary basis.
*IRS Circular 230 Disclosure: Citigroup, Inc., its affiliates, and its employees are not in the business of providing tax or legal advice to any taxpayer outside of Citigroup, Inc. and its affiliates. This document is not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Tax benefits are subject to changes in the tax laws. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Citibank N.A. is a registered Corporate Agent of Tata AIA Life Insurance Company Limited, New India Assurance Company Limited, Royal Sundaram General Insurance Company Limited and Apollo Munich Health Insurance Company Limited under the composite license number CA0086 issued by IRDAI.
Life Insurance Policies: These policies are underwritten by Tata AIA Life Insurance Co. Limited (IRDAI Registration No. 110)
CIN: U66010MH2000PLC128403 with its registered office at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg,
Lower Parel, Mumbai 400013.
All guaranteed benefits are payable only when all premiums are paid when due.
Investment risk in the investment portfolio is borne by the Policy Holder. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associate with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision. Tata AIA Life is only the name of the Insurance Company and the funds offered are only the names of the funds and does not in any way indicate the quality of the contract, its future prospects or returns.
Non-life Insurance Policies:
Policies are underwritten by New India Assurance Company Limited (IRDAI Registration No. 190) CIN: U99999MH1919GOI000526 with its registered office at No.87, Mahatma Gandhi Road, Fort, Mumbai – 400 001 or by Royal Sundaram General Insurance Company Limited (IRDAI Registration No. 102) CIN:U67200TN2000PLC045611 with its registered office at No. 21, Patullos Road,
Chennai 600 002.
Specialist Health Insurance Policies: These policies are underwritten by Apollo Munich Health Insurance Company Limited (IRDAI Registration No. 131) CIN: U66030TG2006PLC051760 with its registered office at Apollo Hospitals Complex, 8-2-293/82/J III/DH/900 Jubilee Hills, Hyderabad, Telangana 500033.
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sale.
For any queries with respect to your Insurance Policies bought through Citibank N.A., kindly contact 24 x 7 CitiPhone, The updated numbers are available on www.citibank.co.in
SECTION 41 OF THE INSURANCE ACT 1938 PROHIBITION OF REBATES
- No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an Insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the Insurer.
Any person making default in complying with the provisions of this section shall be liable for penalty which may extend to
ten lakh rupees.