A hospital daily cash plan is the best way to manage extra expenses during hospitalisation. It provides a fixed amount to meet additional expenses like travel and food for each day during hospitalisation. Such a plan can be purchased as an additional cover along with your existing health insurance plan. The amount received as daily cash can be used to cover expenses not covered in the base policy, like the cost of medical equipment, the costs beyond sub-limits, etc.
SBI general insurance company offers SBI hospital daily cash insurance policy that provides extra protection during hospitalisation. Let us find more details about the policy features, coverage and benefits.
The policy offers fixed benefits irrespective of the actual expenses. Some key features of the SBI hospital daily cash health insurance policy are;
The policy is available for anyone with a minimum age of 18 years and a maximum of 65 years.
Children from 3 months' age are covered if any one parent is covered.
For individuals below 45 years of age, no pre-policy medical check-up is required.
The plan has 4 variants offering daily cash benefits from ₹500 upto ₹ 4000.
There are 2 coverage options available offering benefits for 30 days and 60 days
There is a waiting period of 24 hours of hospitalisation, after which daily cash benefit is available.
For ICU and accidental hospitalisation, expenses are covered upto twice the daily benefit amount.
A fixed lump sum amount is provided to cover convalescence expenses.
Premium paid for the policy is tax-free under section 80D of the Income Tax Act.
Following are the plan variants available under the hospital daily cash insurance plan by SBI.
| Daily Cash Benefits | Plan A | Plan B | Plan C | Plan D |
|---|---|---|---|---|
Convalescence benefit for more than 10 continuous days: Fixed amount equal to 3 times of the daily cash benefit or ₹ 5000, whichever is less, is payable.
Following is the main inclusions in the policy.
Hospitalisation for more than 24 hours is covered, and daily cash benefit for each day is provided.
For ICU and accidental hospitalisation, twice the amount of daily cash benefit is provided for a maximum of 7 days and 5 days, respectively. In a policy period, accidental hospitalisation of a maximum of 10 days is covered, and ICU hospitalisation of a maximum of 15 days is covered.
A convalescence benefit is also covered for 10 continuous days of hospitalisation, whichever less than thrice the amount of daily cash benefit or ₹ 5000 is payable.
The maximum hospitalisation days covered in the policy are 30 days or 60 days as per your policy terms.
The expenses covered under the policy include consumables, personal items needed during hospitalisation, travel costs, the cost of a personal attendant, etc.
Under some situations, hospital daily cash benefit is not available. These include hospitalisation due to;
A SBI health insurance hospital cash benefit plan has several benefits as given below;
Some important points to remember with a stand-alone daily hospital cash policy are;
It is not just the medical expenses that one has to deal with during hospitalisation but also the costs of consumables, personal items, and other additional expenses during hospitalisation. These additional expenses cannot be avoided and are not even covered in your standard health insurance policy. A hospital daily cash benefit is the ideal insurance plan which covers these benefits and does not require much documentation or bills to make a claim. It can save you from exorbitant additional expenses not covered in your base policy, during hospitalisation. For more details, visit the company website or contact the Coverfox team.
