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Knowledge Base Life Insurance Hospitalization SBI Life Health Plan: Hospital Cash Review
Wednesday, 28 September 2011 15:37

SBI Life Health Plan: Hospital Cash Review

Written by  Yashish Dahiya
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SBI Life Health Plan: Hospital Cash Review


Plan Name: Hospital Cash

Insurer: SBI Life Insurance Company Limited

Category: Health Insurance

Objective: Financial payouts in case of hospitalization


Major USP of SBI Life Hospital Cash


Daily Cash Benefit

Multiple Discounts

Available Online


What benefits does SBI Life Hospital Cash offer?


Daily Hospitalization Cash Benefit: Hospital Cash provides the policyholder with daily cash when he is hospitalized for more than 24 hours due to sickness or accident. The daily cash amount available with Hospital Cash is Rs 2,000, 3,000, 4,000 and 5,000. The maximum numbers of days of hospitalization are 100.


Intensive Care Unit (ICU) Benefit: In case the insured is admitted into an ICU for more than 24 hours, then intensive care benefit would be equivalent to twice the daily hospitalization cash benefit. The maximum numbers of days of hospitalization are 50.


Family Care Benefit: In case two or more insured members are hospitalized simultaneously for more than 5 days, separate INR 10,000 will be payable once in a policy year.


No Claim Benefit: If no claim is made, Sum Assured would be increased by 5% on each policy anniversary. The maximum increase allowed is 40% of the basic Sum Assured. If a claim is made, then Sum Assured will be decreased by 10%. However Sum Assured will not be decreased beyond the basic.


Discount: 2.5% discount will be applicable on renewal of policy.

 

Family Rebate: Depending upon the number of family members covered under the policy, additional discount on premium amount is provided.

 

Tax benefits: You can avail tax benefits under Section 80D to maximum amount of Rs 15,000. For senior citizens, the maximum amount is Rs 20,000.

 

What is not covered in SBI Life Hospital Cash?


- Any illness diagnosed within 30 days of inception of policy is not covered, however accidental injuries will be covered

- There is 2 year waiting period for pre-existing injuries and particular diseases like cataract, hernia, hydrocele etc

- War or related activities

- Any epidemic recognized by World Health Organization (WHO)

- Self inflicted injuries

- Abuse of intoxicant things like alcohol or drugs

- HIV, genetic disorders and related diseases

- Cosmetic treatments or plastic surgery

- Non allopathic treatments

- Dental treatments

- Mental Disorders

There are few more exclusion’s which can be verified from the policy document

 

Who can buy SBI Life Hospital Cash?


Hospital Cash can be bought by anyone aged from 1 year to 65 years. For children from 1 year-17 years, one parent has to be covered under same policy. The maximum age on maturity is 75 years and there is fixed policy term of 3 years. Both individual and family floater plans are available in Hospital Cash.

 

How much premium for SBI Life Hospital Cash?


For person aged 30 years opting for Sum Assured of INR 200,000, Hospital Cash premium would be Rs 2,824including tax.

 

 

 

5 comments
  • Comment Link T Panneerselvam Thursday, 06 October 2011 10:42 posted by T Panneerselvam

    I am holding a health care policy for the past three years with Universal Sampo I wish to switch over kindly let me know the details

  • Comment Link navneet Saturday, 15 December 2012 13:23 posted by navneet

    my mom has eye problem ...and she has to get injection 3 times in a year of 5000. each...can this sbi policy will help me out....if yes how? if no.....wat should i have to do to get......plz kindly suggest me.....

  • Comment Link Administrator Friday, 21 December 2012 18:37 posted by Administrator

    Hi Navneet
    This policy will pay only in case of hospitalization for more than 24 hours. It will not cover expenses for the injection mentioned by you.

  • Comment Link karis Tuesday, 02 April 2013 22:08 posted by karis

    What is meant by pre existing illness? will these include high blood pressure.............

  • Comment Link Yashish Dahiya Wednesday, 29 May 2013 16:52 posted by Yashish Dahiya

    Hi Karis,

    Pre existing illness is a medical condition that is already there when you buy a health insurance policy. Yes, this includes high blood pressure. There's a waiting period of 4 yrs (in most of the plans) for such pre existing illnesses to start getting covered under the policy.

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