By Tricitynews Reporter
Chandigarh
01st August:- SBI Life Insurance Company Limited (“SBI Life”), a leading private life insurance Company, today announced the launch of “SBI Life-Sampoorn Cancer Suraksha”, an
individual, non- participating, non -
linked health insurance product is a comprehensive insurance plan which
helps one to prepare financially on diagnosis of Cancer With this offering, SBI
Life aims to provide financial stability by covering the treatment cost
and the unforeseen expenses that may arise during or later in the treatment
process.
The comprehensive cancer insurance product comes with three
benefit structures (Standard, Classic and Enhanced) to cover different stages
of cancer starting from minor to major to advanced stage cancer.
Commenting on the launch of the product, Arijit Basu,
Managing Director and Chief Executive Officer of SBI Life said that he believes
that cancer cases have increased significantly in the last decade and the
disease by all means can be stressful for the whole family. A person’s strong
will power, positivity and advancements in technology has made the dreadful
disease curable but the cost of treatment is getting even more expensive
putting it out of reach for many people. With SBI Life- Sampoorn Cancer
Suraksha we aim to provide an insurance product that may keep the financial
worries at bay and prepare the policyholders better to fight against cancer.
The insurance policy is available for
people between the ages of 6 years to 65 years of age. The maximum maturity age
will be 75 years.
This is a regular premium payment product with policy term ranging
from 5 years to 30 years. The minimum sum assured is Rs. 10, 00,000 and maximum
sum assured is Rs. 50, 00,000.
Other benefits of the policy include easy payout on diagnosis of
Cancer, simplified issuance with no medical examination and the option to avail
second medical opinion. The customers also get the flexibility to avail 1.20%
of sum assured as monthly payout for 3 years on diagnosis of Major stage
cancer. Policyholders can also get stage wise lump sum pay out benefit –
30% to 150% 150% of sum assured, based on the stage at which it is diagnosed
and benefit structure chosen. The plan also has an inbuilt premium waiver
benefit. Policyholders can also avail an option of getting 40% of sum assured
chosen at inception as monthly income benefit and rest as lump sum benefit in
case of claim under major stage cancer. The insurance plan gives tax benefits
under the prevailing norms under section 80D.
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