Hospital Daily Cash

At times, even small things make a big difference.

SBI General’s Hospital Daily Cash Insurance Policy

Your greatest wealth is your health & everybody has differing levels of control over their own wellbeing. Life follows no fixed pattern and sudden Illness / Disease or Accidental bodily injury can sometimes leave you financially hurt and highly stressed. With SBI General’s Hospital Daily Cash Insurance Policy you can be in control of situations like this. The Policy provides you with fixed benefit for each day of hospitalization irrespective of the actual medical cost. Thus, provides you with additional protection & takes care of additional expenses which are not covered under your Health Insurance Policy such as like traveling, food etc.

Key Feature

What are the key benefits of the Policy?

  • Daily cash benefit of up to Rs.2,000 per day of hospitalisation
  • Daily cash benefit of up to Rs.4,000 per day of ICU hospitalisation
  • Daily cash benefit of up to Rs.4,000 per day of accidental hospitalisation
  • Fixed sum of up to Rs.5000 to take care of Convalescence expenses
  • Age of entry: 18 to 65 years.  Children from the age of 3 months are covered provided both the parents are also concurrently covered.
  • Flexible Plan options – Max.30 days & 60 days coverage.
  • 4 Options to choose  in terms of daily  benefit amount –Rs 500, Rs 1,000, Rs 1,500 and Rs 2,000
  • The premium paid is exempt from Income Tax under Sec 80 D of Income Tax Act (Tax benefits are subject to change in Tax laws)
  • Free Look Period of 15 days

Coverage

In the event of Accidental Bodily Injury or Sickness first occurring or manifesting itself during the Policy Period and causing the Insured’s Hospitalisation, a hospitalization benefit will be payable as per the conditions below and subject to the Deductible as defined:

Hospitalisation: Hospital Daily Cash benefit for each continuous and completed period of 24 hours of hospitalization.

Hospitalisation in ICU: Twice the Hospital Daily Cash benefit for each continuous and completed period of 24 hours of Hospitalisation within the Intensive Care Unit.  This is applicable for a maximum of 7 days per Hospitalisation subject to maximum of 15 days per Policy Period.

Hospitalisation due to accidental bodily injury: Twice the Hospital Daily Cash benefit for each continuous and completed period of 24 hours of Hospitalisation necessitated solely by reason of the said Accidental Bodily Injury.  This is applicable for a maximum of 5 days per Hospitalisation subject to maximum of 10 days per Policy Period.

Hospitalisation for consecutive days : Thrice Hospital Daily Cash benefit or Rs 5,000 whichever is less is payable upon completion of 10 consecutive days of hospitalization in a single admission for convalescence.  This benefit is payable only once in a Policy Period.

Maximum benefit payable: The maximum benefit payable will be 30/60 days as stated in Insured’s schedule within any Policy Period.

Deductible: Deductible equivalent to the first 24 hours Hospitalization benefit will be levied on each and every Hospitalisation during the Policy Period.

Exclusion

The Company will not be liable under the Policy in respect of hospitalisation due to

.
  • Any condition, ailment or injury or related condition(s) for which you have been diagnosed, received medical treatment, had signs and / or symptoms, prior to inception of your policy Any disease contracted during the first 30 days of commencement of the policy.
  • Certain diseases/surgeries like Hernia, Hydrocele etc shall be covered after a waiting period of 1 year.
  • Certain diseases like cataract, Hysterectomy shall be covered after a waiting period of 2 years.
  • Joint replacement surgery shall be covered after a waiting period of 3 years except done due to an accident.
  • Treatment arising from or traceable to pregnancy (whether uterine or extra uterine) and childbirth including caesarean section, and/or any treatment related to prenatal and postnatal care.
  • Treatment for any mental disease / illness, psychiatric or psychological disorders.
  • All expenses related to AIDS and related diseases.
  • Use or abuse of any substance, drug or alcohol and treatment for de-addiction.
  • "Day care Treatments” as defined under the policy are excluded from the scope of the Policy.
     

Plan Option

SBI General’s Hospital Daily Cash Insurance Policy provides you with the flexibility in terms of coverage days & the Benefit payable per day.

We have 2 coverage options:

  • 30 days coverage
  • 60 days coverage.

We have 4 options for daily benefit amount. The details as in the following table:

Plan: (Max coverage: 30 Days)
Benefits A B C D
Daily Hospitalization benefits due to sickness 500 1000 1500 2000
ICU Hospitalization (max. 7 days) (Max. 15 days per Policy Period) 1000 2000 3000 4000
Accident hospital confinement 1000 2000 3000 4000
Convalescence benefit for hospitalization exceeding consecutive 10 days Fixed lumpsum amount payable - 3 times benefits payable max 5000, if hospitalization exceeds 10 consecutive days
Plan: (Max coverage: 60 Days)
Benefits A B C D
Daily Hospitalization benefits due to sickness 500 1000 1500 2000
ICU Hospitalization (max. 7 days) (Max. 15 days per Policy Period) 1000 2000 3000 4000
Accident hospital confinement 1000 2000 3000 4000
Convalescence benefit for hospitalization exceeding consecutive 10 days Fixed lumpsum amount payable - 3 times benefits payable max 5000, if hospitalization exceeds 10 consecutive days

*Benefit Amount in INR

The Minimum age of entry for SBI General’s Health Insurance Policy is 18 years. However Children from the age of 3 months can be covered subject to both parents concurrently covered with SBI General.

The Maximum age of entry for the policy is 65 years

The Maximum benefit amount payable is Rs 2,000 per day. However, the Maximum Benefit would be restricted to Rs 500 per day with maximum coverage of 30 days for insured persons aged 60 and above and taking a policy with us for the first time.

Pre-acceptance Health check is not mandatory for people who are less than 60 years old and without any history of illness. Insured’s with following condition, acceptance of proposal is subject to a satisfactory medical examination as per our company’s requirements:

  • Insured with adverse medical history as declared in Proposal Form or,
  • Insured aged above 60 years & irrespective of SI.
  • Pre-acceptance medical tests at the cost of the proposer. However, if the proposal is accepted the Insurer will reimburse 50% of the cost incurred towards the medical tests so undertaken at the advice of the insurer. What are the major Exclusions for this policy? The Company will not be liable under the Policy in respect of payment towards treatment taken due to
  • Any condition, ailment or injury or related condition(s) for which you have been diagnosed, received medical treatment, had signs and / or symptoms, prior to inception of your policy Any disease contracted during the first 30 days of commencement of the policy.
  • Certain diseases/surgeries like Hernia, Hydrocele etc shall be covered after a waiting period of 1 year.
  • Certain diseases like cataract, Hysterectomy shall be covered after a waiting period of 2 years.
  • Joint replacement surgery shall be covered after a waiting period of 3 years except done due to an accident.
  • Treatment arising from or traceable to pregnancy (whether uterine or extra uterine) and childbirth including caesarean section, and/or any treatment related to prenatal and postnatal care.
  • Treatment for any mental disease / illness, psychiatric or psychological disorders.
  • All expenses related to AIDS and related diseases.
  • Use or abuse of any substance, drug or alcohol and treatment for de-addiction.
  • “Day care Treatments” as defined under the policy are excluded from the scope of the Policy

FAQ

  • If I already have BP and wish to avail Hospital Daily Cash Insurance, how can I go about it?

    You may go ahead and purchase Hospital Daily Cash Insurance. However, your pre-existing diseases like BP (Hypertension) and any heart, kidney and circulatory disorders will not be covered under this policy.

  • While my Health Policy covers day care treatment, will Hospital Daily Cash covers the same?

    No. Hospital Daily Cash Insurance does not cover expenses due to day care treatment.

  • Will Hospital Daily Cash Insurance cover maternity?

    No, Hospital Daily Cash Insurance does not cover hospitalisation due to maternity

  • What are the tax benefits that can be availed on this plan?

    Deduction u/s 80 D of income tax act is available from taxable income for premium paid towards health insurance

    • For self, spouse and dependent children - Maximum Rs.25000/-
    • For Parent(s)- Maximum Rs.25,000/-
    • In case Parent(s) are resident senior citizen- Maximum Rs.30,000/-

  • Can I port any other policy into this policy?

    Portability is applicable only within similar products. In this case you can port your existing Hospital Daily Cash policy into this policy.

Product Code: IRDA/NL-HLT/SBIGI/P-H/V.I/41/13-14 Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the sales brochure carefully before concluding a sale.