Daily allowance is a per day compensation paid to the insured in the event of an incidence such as hospitalization, hijack, etc.
Let us understand the different incidence in which the insured will get daily compensation:
Hospital daily allowance:
In the event the insured is hospitalised due to illness / sickness / diseases or injury, the company shall pay a compensation for each continuous and completed period of 24hrs of hospitalization. However, the liability to make the payment will commence after the insured person is hospitalised beyond a specified number of days as mentioned in the policy schedule.
Exclusion:
The company shall not make any payment for any claims under the below circumstances:
Hijack daily allowance / hijack distress allowance:
In the event if the aircraft in which the insured is travelling as a fare-paying passenger to or from a foreign country during the risk period is hijacked then the insurance company shall pay a compensation as specified in the schedule. However, the company is liable to pay if the journey is interrupted for a continuous and completed period of more than 12hrs.
Exclusion:
The company shall not make any payment for any claims under the below circumstances:
The allowance amount could vary from company to company. Please refer the company brochure & policy wordings for further information.