SBI Life, a subsidiary of the State Bank of India, will soon come out with an insurance policy to cater to the needs of those affected by serious illnesses. The policy would help those who have to undergo by-pass surgeries, kidney and organ transplantation and those who had to undergo treatment for cancer.
Disclosing this R. Krishnamurthy, Managing Director, SBI Life, maintained that the policy would be launched in the coming month, and added that the policyholders would be given the sum assured if they produced a certificate from doctors, who diagnosed the disease enabling them to undertake treatment.
Krishnamurthy added that the sum assured would be disbursed within a week of the submission of the certificate. He further added that there would no need for the policyholders to produce the medical bills and hospital charges.
SBI Life, in the first six months of the current fiscal, had collected Rs.50 crore as first premium and had issued one lakh policies, valued at Rs 900 crore.