SBI General & Starfin India Introduce Hospital Daily Cash Plan for Low-Income Families
As per the joint statement, the new plan offers a fixed daily cash benefit for hospitalisation due to illness or accidents.
SBI General Insurance has partnered with Starfin India, a subsidiary of BLS E-Services, to launch a hospital daily cash benefit plan aimed at supporting low-income families during medical emergencies.
As per the joint statement, the new plan offers a fixed daily cash benefit for hospitalisation due to illness or accidents. The plan also provides coverage for accidental death and partial disability, ensuring additional financial protection during unexpected events.
The initiative is designed to reduce financial stress during hospital stays by offering timely monetary support. According to Priya Kumar, Business Head - Emerging Business Lines, SBI General Insurance, "Access to timely financial support during hospitalisation can make a significant difference for vulnerable families."
The plan will be distributed via Starfin India's tech-enabled platform, which aims to streamline the customer experience from policy purchase to claims. The platform facilitates quick policy issuance and provides a seamless, end-to-end claims process, ensuring greater ease for users.
Customers can choose coverage, fill in necessary details, and make payments through the platform. Following completion, a cover note is issued, followed by the final certificate of insurance from SBI General within a defined period.
Claims can be filed through a dedicated claims app or web portal, with document submission simplified and a 30-day turnaround time after verification.
Shikhar Aggarwal, Chairman of BLS E-Services Ltd, said, "By offering a daily cash benefit plan, we aim to alleviate the financial burden of hospitalisation, empowering families during their most vulnerable times."
The plan marks a collaborative step toward providing accessible healthcare financing options for underserved segments, with technology playing a key role in delivery and implementation.
