Understanding hospital cash insurance
MediShield Life covers your bills—but what covers your lost income during hospitalisation? Hospital cash plans pay you daily; here’s what to check before buying one.
Last updated 2 July 2026
Key takeaways
Amount paid to you may be more or less than your actual medical expenses
Ask about the policy waiting period. No benefits will be paid during this time
Key features
Hospital cash insurance pays you a fixed amount of money for each day you're hospitalised. The total amount paid under this policy may be more or less than your actual medical expenses.
Pays a fixed amount for each day you are warded for treatment or surgery
There may be a waiting period before the benefit is paid
Pays for only a maximum number of days each year or the life of the policy
The policy will end once the lifetime limit is reached
Waiting periods and benefit limits are different across policies
Waiting period
A hospital cash insurance policy may have a waiting period, a defined period from the start of the policy during which benefits will not be paid under certain conditions.
If you are hospitalised during this period, no benefits would be paid.
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