On 01 August 2017, SBI Life Insurance has launched their first ever cancer plan. The main objective behind the launch is to assist individuals financially on diagnosis of cancer. The treatment cost and other medical related expenses are huge and SBI aims to provide financial assistance at the time of need. It is a comprehensive cancer product and non-health insurance linked.

Listed below are the features of this cancer insurance policy:

Easy payout on diagnosis: On diagnosis of minor stage (CIS & Early stage cancer), lump sum benefit of 30% of the sum assured is payable. Whereas if the policy holder is diagnosed with major stage cancer, lump sum benefit which would be equal to the balance of 100% of the sum assured less claims paid earlier.

High sum assured: Maximum 50 lakh and minimum 10 Lakh sum is assured depending on the plan taken.

Very low premium: Minimum monthly premium of Rs. 50 or yearly Rs. 600 based on the sum assured and the entry age.

3 stages of cancer are covered: minor, major and advance.

4 options to pay premium: Not everyone has financial capacity of making payment in one go. And for such individuals, SBI cancer policy has made premium payment comfortable. There are 4 options to make premium payment: monthly, half-yearly, quarterly, yearly. Policy holder can choose any option and change the payment term anytime at no extra cost.

There is a 5% discount on buying SBI Sampoorn Life Cancer policy online.

This policy can be purchased for anyone whose age is minimum 6 years and maximum 65 years. And the policy matures at the age of 75 years.

No medical test: Prior to buying this cancer policy, there is no requirement of undergoing the medical test. There are many life insurance plans out there in the market, requiring the applicant to first go for a medical test at the specified medical center. And based on the result of the test, policy is issued or rejected.

Eligible for income tax benefit: Investing in SBI Sampoorn Cancer Suraksha is eligible for income tax benefit under section 80C.

Second medical opinion: Cancer is a deadly disease. And not many patients will always trust the report. And a second opinion is always used by the sufferer/ However if you go to any doctor for a second opinion, hefty fee would be charged. However SBI Life offers a completely free medical opinion on cancer and Carcinoma In Situ (CIS). Remotely insured person will get opinion from the world’s leading medical centers. Treatment plan will also be suggested to the policy holder by the medical team. Some of the medical partners of SBI life are Harvard Medical School, Cleveland Clinic, and Kings College London.

Free look option: There are many terms and conditions in any insurance policy and the same applies to life insurance. There might be certain conditions which may not be of the benefit to the customer and he/she may realize this later after going through the policy wordings. For such conditions, SBI life also offers a free look period. That is, after the policy starts customer can return the policy within 15 – 30 days of receipt of the policy document. While returning the policy, however, customer has to specify the reason for return.

SBI Life customer care contact details:

Phone: 1800229090

E-mail: info@sbilife.co.in

Chat: http://echat.sbilife.co.in/ChatCustomerLogin/

For more details on SBI Life Sampoorn Cancer Suraksha visit https://www.sbilife.co.in/en/individual-life-insurance/traditional/sampoorn-cancer-suraksha