When a hospitalization occurs it's usually sudden and unexpected. An accident or illness that results in hospitalization often comes with unforeseen expenses. This can cause financial hardship and the Hospital Cash benefit helps with some of those unforeseen costs.
 

What is Hospital Cash?

Hospital Cash is a tax free¹ benefit that is paid in the event you are hospitalized and can be used any way you wish.
 

Hospital cash can help with some of the unexpected expenses that come up when you are in the hospital, such as:

• Parking costs for visiting family members
• Child care costs, so your spouse can be by your side
• Medical devices not covered by provincial or employer plans
• Rental of a television in your hospital room
• Accommodations near hospital for visitors travelling to see you
• Pet care for your furry loved ones while you're in hospital

¹Tax free: based on current CRA guidelines

Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.

How does it work?

The insurer of this benefit is Chubb Life Insurance Company of Canada (Chubb Life). Coverage is available for you, your spouse and dependent children. You and your spouse must be at least 18 years old to be eligible for coverage. You do not need to provide any medical information to be eligible for coverage.
 

You decide if you want insurance to cover you for a hospitalization for accidents only, or both accidents and sicknesses. You then select a per day benefit amount of insurance ($50 to $250 per day in units of $50). If you are hospitalized, the insurer pays you the daily benefit for each full day you are confined.
 

The daily benefit amount becomes payable once you have been confined in the hospital for 3 consecutive days, and will continue to be paid up to 365 days of hospitalization.
 

Who is an eligible spouse or dependent child?

Your spouse is a person who is either legally married to you or cohabitates with you and has been publicly represented as your domestic partner for a period of at least one year in the community in which you reside.
 

Eligible children are your natural, adopted or step-kids, who are either; a) under 21, unmarried, and look to you to pay all the bills, because they don’t work more than 25 hours per week; b) under 26, unmarried and in the process of getting a post-secondary education, still dependent on you for support, because they don’t work more than 25 hours per week; or c) by reason of mental or physical illness, they are unable to support themselves and considered a dependent child under the terms of the Income Tax Act (Canada).
 

If you purchase coverage for your kids, all eligible children listed on the policy will be covered. Please note, that if you have a new dependent child, you must contact Chubb Life to add them to your policy. Their coverage will only be effective the date you add them to your policy.
 

What is the coverage termination age?

Coverage for you and your spouse terminates at age 75. When coverage for your dependent children terminates depends on whether they are in a post-secondary education or not:

• Age 21 if unmarried and look to you to pay all the bills, because they don’t work more than 25 hours per week;
• Age 26 if unmarried and in the process of getting a post-secondary education, still dependent on you for support, because they don’t work more than 25 hours per week;
   

However, if your dependent child(ren), by reason of mental or physical illness, are unable to support themselves and considered a dependent child under the terms of the Income Tax Act (Canada), their coverage will continue until your coverage terminates.

Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.

Answers about the plan, including eligibility, options, enrollment, customer service and more.

This summary is an overview for informational purposes only and does not replace the Chubb Life Insurance Company of Canada hospital cash policy. Please refer to the Chubb Life website and insurance policy for full details of the coverage, an explanation of benefits, including but not limited to the definitions, benefit amounts, exclusions and limitations.

Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.