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New health insurance product from SBI Life

SBI Life Insurance Company is coming up with the new Product, under health insurance category called 'Critical illness' (CI) by the end of June 2008.

Apnainsurance.com Research Bureau

15 Sep 2008

SBI Life insurance company is coming up with a new product under the health insurance category called as Critical illness (CI) by June 2008. The policy will cover seven critical illnesses such as  heart attack, cancer, blood pressure, etc.

Under this policy, insurance company will pay claims to the policy holder, not to the hospitals. That will provide insured with the choice to spend that money.

This feature is incorporated keeping the fact in mind that some hospitals charge more fees from the policy-holder. This policy will be available at the very attractive premium rates but their will be no refund of premium.

The insurer had already applied for the required permission from the IRDA.