The plan guards the erosion of policyholders’ accumulated savings, in case of medical emergency, by way of providing fixed daily allowance to the insured for every day of hospitalisation irrespective of the hospital bill amount. Expenses incurred before, during and after discharge are covered through this allowance. Hospital Cash is available on online platform in addition to the company’s extensive multi-distribution network.
SBI Life Insurance on recently announced a foray into the health insurance segment with the launch of its `Hospital Cash' plan, which provides a fixed daily allowance to policyholders for each day of hospitalisation.
The Hospital Cash plan guards against the erosion of policyholders' accumulated savings on account of medical bills by providing a fixed daily allowance to the insured person for every day of hospitalisation, irrespective of the hospital bill amount
“Our foray into health insurance is aimed at addressing the issues of rising health care costs and acute under-penetration of health insurance in India,“ SBI Life's MD and CEO MN Rao said.
The plan is available for a fixed policy term of three years and offers the flexibility of premium payment options, with collection on a yearly, half-yearly or quarterly basis. The cover can be renewed till the age of 75 years.
Hospital Cash's Daily Hospitalisation Cash Benefit (DHCB) provides policyholders with a 100 per cent fixed payout from the first day of hospitalisation without any deductions.
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