Why You Need A Hospital Cash Insurance Plan

by Mar 11, 2021Uncategorized0 comments

Why You Need A Hospital Cash Plan

Let’s talk a bit about Segun, a Product Manager at a SaaS Company in Lagos, Nigeria. His story is the inspiration behind the need to write about why you need a hospital cash insurance plan.

It all started after an intense strategy session in preparation for the launch of a new product. He stood up to speak, but then he blacked out. Opened his eyes later to find himself in a strange yet familiar place – It was a hospital.

“How did I get here?” The last thing he remembered was when he stood up during the session to give clarity to a few questions. “You slumped, your colleagues rushed you here immediately.” A kind nurse explained to him with a gentleness that assured him that he would be alright.

Imagine the dismay on his face. His whole body felt numb as he could only move slightly. Segun has always been a stickler for fitness and wellness. He ate right and exercised regularly. What could have gone wrong? He could not fathom.

After a series of tests, the diagnosis revealed he had a heart condition that needed to be managed properly. Even though he ate right and exercised regularly, Segun was never the type to take it slow. Stress had accumulated for so long, it began to take a toll on his heart.

He was hospitalized for a few more days for treatment, close monitoring of his heart and proper rest.

Segun had not been to a hospital in a long while, so he quickly learnt a few things while he was there.

  1. Life can have unexpected moments – We should, thus, be ready and prepared to deal with it.
  2. Regular medical consultation is very important.
  3. The cost of medical care is expensive. A lot of people are unable to bear the burden alone.
  4. Giving the current cost of healthcare it is advisable to invest in medical insurance. To reduce the burden of incurred expenses.

Now, this is the point: no one has to do it alone. Anyone can easily cover medical expenses with the help of AIICO Hospital Cash Insurance on NowNow.

What is AIICO Hospital Cash Insurance?

AIICO Hospital Cash is an insurance product designed to help cushion the expenses incurred from an unexpected medical emergency.

NowNow has partnered with AIICO Insurance to bring this product closer to you. Accessible through the NowNow app on your mobile phone. 

What are the features of Hospital Cash Insurance?

  • It pays fixed benefits in the form of cash during hospitalization.
  • Benefit commences three days after hospitalization – waiting period.
  • Minimum Age at Entry is 18 years while the Maximum age at entry is 64 years.
  • Minimum annual cover amount is 100,000, while the maximum is 2,000,000.
  • It is renewable annually; allowing you to switch between cover sizes.
  • Users can claim benefits up to a maximum of 5 times per year. Also, the claim amount will be 1/5 of the sum assured per hospitalization.

Here’s what you need to do to access this plan

Download the NowNow app. Login, select the “insurance” feature and proceed. You will find that the hospital cash is divided into four (4) plans – bronze, silver, gold and platinum.

To access the bronze plan, you need to pay an annual premium of N2,150. This is for an annual cash benefit of N100,000. An annual premium of N11,250 for the silver plan to access N500,000 annual cash benefit.

For the gold plan, you need an annual premium of N22,500 to access N1,000,000. While the platinum Plan requires an annual premium of N45,000 for an annual benefit limit of N2,000,000.

A lot of people are sceptical about buying insurance. However, given the current cost of healthcare, it is highly advisable that you invest in AIICO Hospital Cash Insurance.

At NowNow, we are more than happy to help you with all the information on the Hospital Cash Insurance Plan. We advise you to send us an email at customercare@nownow.ng or call 07000669669. We want to help you get started and prepare you for the unexpected.

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