SBI Life Insurance has launched health insurance plan ‘Hospital Cash’. The plan provides fixed daily allowance to the insured for every day of hospitalisation.
Salient Features of Hospital Cash
1- Hospital Cash’s daily hospitalisation cash benefit 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.
2- It provides policyholders with a 100 per cent fixed payout from the first day of hospitalisation without any deductions.
3- The cover can be renewed till the age of 75 years.
4- In case the insured person is admitted into an ICU, the amount receivable by the policyholder is twice that of the Hospital Cash’s regular cash benefit.
5- An additional fixed lumpsum of Rs 10,000 is payable to policyholders covering two or more family members under the plan in case the insured person is admitted to the ICU.
6- The product would also be made available for subscription online.