Metropolitan HealthCare CashBack Cover Review 2023

The Metropolitan Healthcare Cashback Cover is a hospital plan that provides cash that can be used to supplement income due to unexpected hospitalization. This product provides cashback to cover unexpected costs if the policyholder or a family member covered by the plan is hospitalised.

The Healthcare plan is not a replacement for medical aid because it does not cover medical procedures, nor is it a medical gap cover because it does not pay a specific shortfall on what medical aid does not cover. The plan only covers expenses incurred as a result of a hospital stay or inability to work and earn an income.

Metropolitan Healthcare Cashback can accommodate additional family members such as a spouse, children, and extended family members. Individuals covered by the policy will be entitled to a specific daily benefit in the event of an unexpected hospital stay.

When the policyholder or a dependent covered is unexpectedly hospitalised, Healthcare Cashback provides a daily cash amount of up to R3,000.00 for each full day in the hospital. The cash amount is paid for a maximum of 120 days.

The cover has coverage that applies to the immediate family of the main member and the extended family members. We will go through the benefits that come with subscribing to immediate and extended family members below.

Metropolitan HealthCash CashBack Built-in Benefits

The policyholder can choose to cover himself or herself or his/her immediate family members, and the built-in benefit will be determined by who is covered by the policy. The following are two options for built-in benefits:

Built-in Benefits for the Policyholder and Immediate Family

The policy’s main member, children, and spouse are covered by the built-in benefits for the policyholder and immediate family.

The policyholder and immediate family members can be covered for up to R3,000.00 per day in cash. Daily cash payments can be made for up to 120 days.

The policyholder and immediate family members are also provided with double coverage. Metropolitan pays the daily cash benefit in full for every full day an insured life spends in an intensive care unit.

The policyholder and immediate family members also have 24/7 access to a medical doctor and advice. Individuals can use the benefit to chat or join a group call.

A cashback benefit of 10 times the daily benefit amount is available to members of the plan. If the policyholder and the family members remain claim-free for a period of 3 years, the no-claims bonus applies.

Built-in Benefits for Parents

The Healthcare Cashback Cover can cover up to four parents. Parents can include the policyholder’s parents as well as up to two parents-in-law.

Parents can be covered for a daily cash payout of up to R400.00 with the Healthcare Cashback Cover. This benefit covers a full day in the hospital for up to 120 days.

If a parent spends the entire day in an intensive care unit, their daily benefit is doubled. For example, parents will receive R500.00 per day spent in ICU if they are covered for R250.00 per day.

There is also a loyalty bonus available that rewards the insured for paying all premiums in full, even if they have made a claim. If the insured remains claim-free for 3 years, he or she will receive a no-claim bonus. The no-claim bonus is worth 10 times the daily benefit.

The policyholder can apply add-ons to the Healthcare Cashback policy because he or she can cover his or her immediate family members. Below, we look at the policy add-ons that can be purchased.

Metropolitan Healthcare CashBack Add-On Benefits

Additional benefits are benefits that the policyholder can add to the Metropolitan Healthcare Cashback cover. These add-ons can only be added at an additional fee.

The following are the add-on benefits of Metropolitan Healthcare Cashback cover:

Add-ons for the policyholder and immediate family

The policyholder can add a R50,000.00 accident benefit. Accident benefit coverage is available only to the primary member and their living partner. This benefit is paid if the primary member or partner dies or becomes permanently disabled as a result of an accident.

For each person insured under the plan, a funeral benefit of up to R10,000.00 can be added. This coverage is only available to a maximum of six immediate family members.

The policyholder can use the premium waiver benefit to cover the cost of keeping the policy in force. If the policyholder dies before the age of 65, the plan will pay the premiums for the remainder of the term.

Add-ons for the parents

Each parent covered by the plan is eligible for a funeral benefit of up to R50,000.00. Parents can be covered if the policyholder chooses to pay a paid-up premium before the age of 65. The insured parents are then covered for the rest of their lives.

The daily cash benefit can be increased annually to keep the plan in line with inflation. When this option is chosen, the payable premiums will also rise.

Add-ons for extended family

The plan can cover the funeral expenses of extended family members. The funeral cover can cover a maximum of six members and up to R10,000.00 per member.

Metropolitan Automatic Inflation Management benefit can also automatically increase premiums for the daily cover amount. The coverage is automatically increased each year to keep up with rising costs.

Advantages of Metropolitan Healthcare Cashback Cover

  • The main member and their immediate family can be covered for up to R3,000.00 daily cash each.
  • ICU stays are covered for the double daily cash cover amount.
  • The cover amount can be adjusted to keep up with inflation.
  • Comes with a cashback benefit even if the members do not claim as long as the premiums are up to date.
  • Cover for daily cash can be up to 120 days.
  • The money paid can be used by the beneficiary in any way they see fit.

Disadvantages of Metropolitan Healthcare Cashback Cover

  • There is no disability benefit that can render the premiums paid up should the premiums payer suffer a permanent disability.

Conclusion

The Metropolitan Healthcare cashback benefit is an excellent way for individuals to protect themselves against unexpected hospital stays. When they are unable to work due to hospitalisation, the plan is a good way to supplement their income. Cashback for simply paying premiums is another benefit that policyholders can take advantage of without paying an additional premium.

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