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Q1. What is Hospital Daily Cash Insurance?
Hospital Daily Cash Insurance gives you a daily benefit for every 24 hours of hospitalisation. The coverage commences after the first 24 hours of admission, if the reason for hospitalisation is not falling under exclusion in the Policy. The cash benefit, depending on the plan, ranges from ₹ 500/day to ₹ 2000/day for up to 30 or 60 days.
Other benefits of the policy are
Q2. How is Hospital Daily Cash Insurance different from Health Insurance?
Health Insurance policy reimburses inpatient hospital bills. Hospital Daily Cash offers you fixed daily benefits, per 24 hours spent in hospital. This is aimed in covering the incidental expenses during hospitalisation which are normally not covered under health insurance. Hospital Daily Cash Insurance is NOT a substitute of Health Insurance. Rather it acts as a supplement.
Q3. What is the deductible under the policy?
An excess equivalent to the first 24 hours Hospitalization benefit will be levied on each and every Hospitalisation during the Policy Period.
Q4. Who can buy this policy?
Anyone in the age group of 18- 65 years can buy this policy. Children can be covered after 90 days if either of the parents are concurrently insured with us
Q5. What is the waiting period under this policy?
There is a waiting period of 30 days before you can claim under this policy.
Q6. What are Sum Insured restrictions in the policy?
Minimum Benefit Amount is ₹ 500/day and Maximum Benefit Amount is ₹ 2, 000/day. However, the Maximum Benefit would be restricted to ₹ 500/per day with maximum coverage of 30 days for Insured aged 60 and above and taking a policy with us for the first time.
Q7. What plan options are available under this policy?
You can buy a maximum 30 days or 60 days of hospitalisation plan and choose the daily cash benefit from ₹ 500/day to 2000/day under this policy.
Q8. Do I need to undergo Pre-Acceptance Health Check Up compulsorily?
Pre-acceptance Health check is not mandatory for people who are less than 45 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 SBI General’s requirements:
The cost of Pre-acceptance medical tests has to be borne by the proposer. However, if the proposal is accepted by Us, we will reimburse 50% of the cost incurred towards the medical tests so undertaken at our advice.
Q9. Is a Free- Look option available in this policy?
Yes, free look option is available in this policy.
Q10. What do you mean by Pre-Existing Disease? Are pre- existing diseases covered in this policy?
Any condition, aliment or injury or relation condition(s), for which the insured had signs or symptoms and/or diagnosed and/or received medical advice/treatment prior to the inception of the policy. Pre existing diseases are permanently excluded from coverage in this policy.
Q11. 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.
Q12. 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
However, please note that tax benefits are subject to change in tax laws.
Q13. Will Hospital Daily Cash Insurance cover maternity?
No, Hospital Daily Cash Insurance does not cover hospitalisation due to maternity
Q14. 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.
Q15. 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 circula