Hospitalisation expenses can be a nightmare for anyone unprepared to tackle them. Having a comprehensive health insurance is one of the best ways to secure oneself from unexpected hospitalisation. No matter how comprehensive a health insurance policy is, it can only protect an insured from actual medical expenses. However, most hospitalisation events are accompanied by a range of additional expenses related to food, comfort, and travel. With regard to these expenses, a daily cash insurance policy will be handy. SBI General Hospital Daily Cash Insurance Policy provides this cover for the insured. Irrespective of the actual medical expenses, this policy provides a fixed cash benefit everyday when the insured is hospitalised for a specific period of time.
This coverage is available for children from the age of 3 months provided that their parents are concurrently enrolled in this policy. Some of the key eligibility criteria for this policy are as follows.
This is a flexible cover that allows the insured to choose the daily benefit amount and the days of coverage. Most importantly, SBI General Hospital Daily Cash Insurance Policy offers a range of benefits for policyholders:
The daily cash benefit available under this policy comes in four different plans - Plan A (Rs.500), Plan B (Rs.1,000), Plan C (Rs.1,500), and Plan D (Rs.2,000). For people with entry age of 60 years and above, the maximum benefit offered under this policy is restricted to Rs.500 for a maximum of 30 days. The following benefits apply to both 30 days coverage and 60 days coverage.
|Benefits||Plans A||Plan B||Plan C||Plan D|
|Daily hospitalisation cash benefit for illnesses||Rs.500||Rs.1,000||Rs.1,500||Rs.2,000|
|Daily hospitalisation benefit for stay in ICU subject to a maximum of 7 days per illness or injury and 15 days per policy period||Rs.1,000||Rs.2,000||Rs.3,000||Rs.4,000|
|Hospitalisation due to accident||Rs.1,000||Rs.2,000||Rs.3,000||Rs.4,000|
|Convalescence benefit for hospital stay exceeding 10 consecutive days||A lump sum of 3 times the daily hospitalisation benefit or Rs.5,000 (whichever is less)|
Based on the benefits provided in this table, an appropriate plan can be chosen by the customer.
SBI General is not liable for providing compensation under the Hospital Daily Cash Insurance Policy for certain conditions. Some of these conditions are as follows:
The claim process for SBI General Hospital Daily Cash Insurance Policy begins with a notification to the insurer. Notification must be provided immediately in writing following the occurrence of an event. In any case, the insurer must be notified within 48 hours of discharge from the hospital. Payment of compensation is subject to the submission of a range of documents related to hospitalisation. Some of the documents required by the insurer include:
Once the documents are submitted, the insurer will assess the validity of the claim. If the claim is not valid, the insurer may reject the application. In case of rejection, the insurer will notify the claimant in writing with the reason for repudiation. If the claim is found to be valid, the insurer will process the claim and compensate the claimant.
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