Insurance Made Simple

If you’re visiting this page, then good on you for trying to understand insurance better! We’ve highlighted common and useful insurance terms here and broke them down in plain English.
Cash Benefit

Cash benefit is a fixed amount of cash you receive when a specified event/situation happens. 

Why it matters:

A cash benefit is usually given to you as a fixed lump sum amount and you are free to spend that cash however you like. For health insurance, common cash benefits include hospital cash benefit, cancer cash benefit, and maternity cash benefit.

OneDegree Pet Insurance - Pawfect Care offers a cancer cash benefit (for Essential and Plus Plans) when your pet unfortunately gets cancer. This lump sum can be spent on non-medical expenses or alternative therapies that normally aren't covered by insurers.