SBI Hospital Cash Insurance Policy: Benefits, Premium & Coverage

SBI Hospital Cash Insurance Policy

SBI Hospital Cash policy is a health insurance plan offered by SBI General Insurance Company Limited that provides coverage for day-to-day expenses incurred during hospitalization, such as food, travelling, etc. It provides coverage for those incidental expenses during hospitalization that are mostly not covered by regular health insurance plans.

SBI Hospital Cash Policy

SBI Hospital Daily Cash insurance policy provides a fixed hospital cash benefit to the insured for each day of hospitalization. In case the insured is admitted to the Intensive Care Unit (ICU), it will provide twice the daily hospital cash benefit amount. The daily cash benefit amount will also be doubled in case of accidental hospitalization. It also provides a lump sum amount as a convalescence benefit once during the policy year.

The SBI Hospital Cash policy comes with four plan options - Plan A, Plan B, Plan C, Plan D. The daily hospital cash amount of Rs 500/1000/1500/2000 is offered for each day of hospitalization as per the chosen plan type. It provides the option of choosing the hospital cash days of either 30 days or 60 days per hospitalization.

The SBI Hospital Daily Cash insurance policy also comes with a deductible of the first 24 hours of hospitalization.

SBI Hospital Cash Policy Eligibility Criteria

Criteria	Specifications
Minimum Entry Age	18 years 03 months (children)
Maximum Entry Age	65 years
Plans Offered	Plan A, Plan B, Plan C, Plan D
Hospital Cash Amount	Rs 500/1000/1500/2000 per day
Number of Hospital Cash Days	30/60 days
Policy Term	1 year
Pre-existing diseases	Not covered
Deductible	1 day
Pre-policy Medical Check-up	Not required up to 45 years

Key Features of SBI Hospital Cash Policy

Here are some of the key features of the SBI Hospital Cash policy:

It comes with four plan options.
It covers ICU hospitalization costs up to double the daily hospital cash benefit amount.
It offers accident hospital confinement expenses up to twice the daily cash benefit amount.
It also offers a one-time fixed convalescence benefit.
It offers tax benefits under section 80D of the Income Tax Act

Inclusions of SBI Hospital Cash Policy

The SBI Hospital Cash policy comes with the following coverage:

Sickness Hospitalization Benefit - Offers a daily cash benefit if hospitalized due to an illness.
ICU Hospitalization Benefit - Offers twice the daily hospital cash amount for a maximum of 7 days in a 15 day policy period if admitted to the ICU
Accident Hospitalization Benefit - Offers twice the daily hospital cash amount for a maximum of 5 days in a 10 days policy period if admitted due to an accidental injury
Convalescence Benefit - Offers a lump sum amount of Rs 5000 or thrice the daily hospital cash amount, whichever is lesser, if hospitalized consecutively for 10 days

Exclusions of SBI Hospital Cash Policy

The SBI Hospital Daily Cash insurance policy does not cover the following medical expenses:

Pre-existing diseases
Pregnancy and childbirth
Day care procedures
Organ donation and related complications
Obesity and weight reduction procedures
Injuries due to nuclear or warfare
HIV AIDS or sexually transmitted diseases
Treatment for mental disease or psychological/psychiatric disorder
Alternative treatment
Outpatient treatment
Accidents caused under the influence of drugs or alcohol

The exclusions listed above are not exhaustive. Check the complete list of exclusions by referring to the SBI Hospital Cash policy brochure.

FAQs

Q. Is there a coverage limit for senior citizens under the SBI Hospital Cash policy?

Yes. People aged 60 years and above will be allowed to opt for a maximum daily hospital cash benefit of Rs 500 per day with a maximum coverage period of 30 days if they are buying an SBI health insurance policy for the first time.
Q. Do I need to undergo a pre-policy medical check-up to buy the SBI Hospital Cash policy?

You will have to undergo a health check-up before buying the SBI Hospital Daily Cash insurance policy if you want to opt for Rs 2000 as the daily hospital cash amount. Moreover, if you are above 45 years of age, you will have to go through a pre-policy medical check-up.
Q. Is there any waiting period applicable under the SBI Hospital Cash policy?
Yes. The SBI Hospital Daily Cash insurance policy comes with the following waiting periods:
- Initial waiting period - 30 days
- Specific illness waiting period - 1 year/ 2 years
- Joint replacement due to degenerative condition waiting period - 3 years
Q. Can I cancel my SBI Hospital Cash policy after buying it?

Yes. You can cancel your SBI Hospital Daily Cash insurance policy during the first 15 days of the policy commencement or the free-look period without paying any cancellation fee. But if you cancel your policy after this period, you will be required to pay a cancellation fee.
Q. Which documents need to be submitted to raise a claim under the SBI Hospital Cash policy?
You need to submit the following documents to raise a claim under the SBI Hospital Cash policy:
- SBI health insurance claim form
- Copy of medical reports
- Doctor’s certificate
- Hospital discharge summary
- A valid photo ID card