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How it Works

The Old Mutual Hospital Cash Plan is designed to pay you a daily benefit in cash for each day you spend in hospital (150% is paid if it’s as a result of an accident), and this money can be used towards the surprise expenses that can be incurred during your stay in hospital.

You can also cover your spouse and children, ensuring your immediate family are covered by the
Old Mutual Hospital Cash Plan!

Get 15% cash back bonus after five years!

After your policy has been running for five years, you will be paid back 15% of the total contributions you have made over the period, no matter whether you’ve claimed or not.

This added bonus is repeated every five years while your policy is still valid - that's a cash-back guarantee!

  • A tailor-made solution

    With the Old Mutual Hospital Cash Plan you can tailor-make your cover when you start by choosing a daily benefit of R200, R400, R600, R800 or R1 000.

    This cover can be extended to include your family (your spouse and five nominated children) and will also pay out 150% of the selected benefit if you land up in hospital due to an accident.

    You can claim provided you have spent at least two executive nights in hospital, with a full day meaning that you are still in hospital when the clock strikes 24h00 (midnight).

  • How much will it cost?

    You can choose a payment plan that suits your pocket, with a fixed or escalating daily benefit. In all instances the monthly fees will differ, but no matter what you pay you never have to give your cash-back bonus up.

    Compulsory Cover Increase Option - If you choose this option, the daily benefit selected will escalate at a fixed rate of 6% per annum, with premiums escalating at a fixed rate of 10% per annum.

    Level & Voluntary Cover Increase options - On the Level Cover option your daily benefit and premiums will remain level over the period of your policy, unless you select to inflation-proof your daily benefit by opting for inflation-linked annual premium and daily benefit adjustments (the Voluntary Cover Increase option). This will help ensure that the cover level you have selected remains relevant over the lifetime.

  • General Rules

    • Anyone between 18 – 60 years of age may apply, with the family option allowing for one spouse and a maximum of 5 biological or legally adopted minor children of the policyholder to be nominated for cover.
    • Cover for the insured family will terminate when the benefit limit for the family has been reached. Cover will cease for children upon reaching the age of 18 (or up to age 24 if proof of full time studying at a recognised tertiary institution is supplied).
    • For children under the age of 4, the benefit payable is 50% of the selected daily benefit.
    • For the R800 and R1 000 daily benefit amounts your monthly income must be at least 15 times the daily benefit.
    • The total maximum allowable benefits over the life of the policy are 365 days per nominated family member, limited to 730 days in total per family.
    • A 6-month general waiting period will apply to each nominated family member from the date of commencement of cover, unless the hospitalisation is due to an accident.
    • A twelve-month condition-specific waiting period will apply for each family member for hospitalisation due to birth or maternity and any pre-existing conditions for which any family member received treatment or advice, or could reasonably have known about, in the twelve months prior to becoming covered by the policy.
    • The hospitalisation must be for treatment by a specialist and must be for a medical condition that can only be treated in hospital.
    • This policy is not designed as an alternative to, or to replace, a medical scheme.

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