How can the Hospital Cash insurance benefit me?

This is a very simple way to add an additional layer of protection in case of an unexpected extended hospital stay, either within Canada or while travelling abroad. 

Once you purchase this policy:

• if you are in an accident,
• if as a result of an illness,
• or if due to childbirth you require a hospital stay of 3 days or more (under the care of a licensed medical practitioner), you are eligible to receive the Hospital Cash benefit for each day you are hospitalized - either $50, $75 or $100 per day, up to a maximum of 120 days of hospitalization.

For example, if you chose the $100/day benefit and are later hospitalized for 20 days, you would receive $2,000 within 60 days after being discharged from the hospital and completing our easy claim process. There are no limitations on how you use this money - it can be used to pay for in-room services, parking, childcare - whatever you need!

Who can buy this?

Canadian residents can buy this coverage for themselves and/or their spouse only, and coverage can continue until the insured person turns 70 years of age (at which point all coverages come to an end).

Who underwrites this insurance?

The Underwriter for the Hospital Cash policy is AIG Insurance Company of Canada. AIG Canada has provided insurance solutions for over 50 years and is federally licensed to operate in all provinces and territories in Canada.

AIG Canada enjoys strong ratings from the principal rating agencies: S&P: A+ and A.M. Best: A. With its headquarters in Toronto, AIG Canada has branches in Vancouver and Montreal. Its 369 staff members served approximately 19,000 policyholders in 2020.

What is the process to make a claim?

Once you've been discharged from the hospital (after a stay of 3 days or longer), complete the attached Claim form. Send the completed form, along with the required supporting documents (copy of the Discharge summary and Hospital Invoices), to the address indicated on the Hospital Cash Benefit Claim Form. 

What's the Cancellation policy?

This policy renews monthly and you can cancel at anytime. A full refund of your initial premium is available within the first 30 days after purchase.

Are there territorial restrictions on this coverage? 

Yes, while this policy DOES apply while travelling internationally, it "will not cover any loss or legal liability arising directly or indirectly from planned or actual travel in, to, or through Iran, Syria, Sudan, North Korea or the Crimea region." (page 6 of policy wordings)

Note: Eligible Members must be admitted to the hospital for a minimum of 72 hours to receive the Hospital Cash benefit. Your benefit payment will include the first 3 days, to a maximum of 120 days. Payment of this benefit will be equal to the total number of days as shown on the hospital discharge document. Hospital stays less than 3 days do not qualify for this benefit.

Full policy wordings for this coverage are available here.