Introduction 
Good health is the most valuable asset that we have, but nowadays with increasing levels of stress, negligible physical activity and changing lifestyle our vulnerability to diseases is increasing at an alarming pace.
 
The cost of healthcare is rising everyday and more than the cost of your treatment, indirect costs like - hospital room rent, nursing expenses, post discharge expenses, recuperating expenses, ambulatory charges etc account for a major part of the overall cost incurred. Lack of sufficient savings or a suitable health policy may force you to compromise on the quality of medical treatment. We feel you certainly deserve better.
 
SBI Life - Hospital Cash is a comprehensive plan that covers not only hospitalization expenses but also other incidental costs. This plan offers you complete freedom from worries.
 
What is SBI Life - Hospital Cash:  
This plan helps you keep your savings untouched in case of medical emergencies by paying you a fixed Daily Hospitalization Cash Benefit and an ICU benefit that is twice of daily cash benefit, irrespective of your hospital bill. This amount helps to pay for any kind of expenses incurred before, during or post hospitalization.
 
We care for you and your loved ones! To aid your family in crisis we provide you with Family Care Benefit feature and family discount benefit.
    
Key Features:
  • 100% payout from day one of hospitalization without any deductible • Coverage of Pre-existing diseases after 2 years • Guaranteed coverage up to 75 years • Premium guarantee for 3 years • Enhanced sum assured and increased payouts on each policy anniversary in case
of No claim • Tax benefit on premium paid under sec 80 D of IT Act^.    
Eligibility:
 
This policy can be taken for Self /Spouse/Parents/ Parents in-law and dependent children.For children between age of 1 year-17 years to be covered at least one of the parents has to be insured under the same policy.
 

Minimum age at entry for the proposer on last birthday

18 years

Minimum age at entry

For Dependant Child

1 year

For Adult

18 years

Maximum age at entry

For Dependant Child

24 years

For Adult

65 years for a new policy

72 years for a renewed policy

Max age at maturity

For Dependant Child

27 years

For Adult

75 years

Fixed Policy Term

3 years

Note: All ages are as on Last Birthday
       
 
Scale of Benefits: 

BENEFITS

Sum Assured per Annum(Rs)

2 Lakhs

3 Lakhs

4 Lakhs

5 Lakhs

Daily Hospitalization Cash Benefit(Rs/day)

Rs 2000

Rs 3000

Rs 4000

Rs 5000

Daily ICU Benefit(Rs/day)

Rs 4000

Rs 6000

Rs 8000

Rs 10,000

Family Care Benefit(Rs)

Rs 10,000 - Lump sum per policy year

 

Waiting Period:
Hospitalization due to any illness within the first 30 days from the date of commencement of the cover or date of joining for a new member in the family policy is not covered except for those arising out of accident(s) which occur during the policy period.

Note: This product is currently available for sale through telemarketing channel only.
^ Consult your Tax Advisor for details
 
Prohibition of Rebates:
Section 41 of Insurance Act 1938 states:No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer.

Non-Disclosure:
Section 45 of Insurance Act, 1938 states:
No Policy of life insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no policy of life insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose;
Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the proposal.

   
 
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