Cancer is a deadly disease which can affect one’s life on every front. Dealing with such a disease is very tough and exhausting. Cancer hit a person when it is most unexpected. When people are diagnosed with this disease most of the time it is too late as the symptoms of cancer come late. Dealing with the cancer is very hard and need a lot of support from family, friends and all the acquaintances. Once cancer hit a person, he or she may not live the life they were living before. The expense of cancer could be too much for a middle-class man. Moving on with the mantra of prevention is better than cure one needs a protection plan to support his expense of cancer.SBI provides this support financially for the person to deal with cancer. To provide their customer with the support they needed, SBI introduces a protection plan for cancer “SBI Sampoorna Cancer Suraksha.”
Benefit of SBI Sampoorna Cancer Suraksha
This plan is fully cancer protection plan and comes into action when the insurer is diagnosed with cancer it has 3 different structure of benefit-
- Standard
- Classic
- Enhanced
Standard plan
In this plan, the benefit is standardized for the customer. The plan covers two stages of cancer and is as follows-
Minor stage-
In Minor stage 30% of the sum assured is covered, during the policy term, one can claim one CIS and one early stage cancer. The premiums for the next 5 years from the date of diagnosis would be waived off. This premium waiver benefit is available only on the first minor stage claim.
Major stage-
In Major stage, the balance of 100% of the Sum Assured less any benefits paid earlier on Minor stage claim would be payable. You have the option to take 40% of the sum assured chosen at inception as a monthly income benefit over 3 years.
Classic plan
In this plan, the benefit provided is slightly higher this plan covers all the stages of cancer and are as follows-
Minor stage
In Minor stage 30% of the sum assured is covered, during the policy term, one can claim one CIS and one early stage cancer. The premium for the all the policy term period is waived off. The premium for the all the policy term period is waived off so there is no future premium payout needed.
Major stage
In Major stage, the balance of 100% of the Sum Assured less any benefits paid earlier on Minor stage claim would be payable. The premium for the all the policy term period is waived off so there is no future premium payout needed.
Advanced stage
In the Major stage, the balance of 150% of the Sum Assured less benefit claimed earlier would be payable.
Enhanced plan
In this plan, the benefit provided is slightly higher this plan covers all the stages of cancer along with sum assured reset benefit and are as follows-
Minor stage
In Minor stage 30% of the sum assured is covered, during the policy term, one can claim one CIS and one early stage cancer. The premium for the all the policy term period is waived off. The premium for the all the policy term period is waived off so there is no future premium payout needed.
Major stage
In Major stage, the balance of 100% of the Sum Assured less any benefits paid earlier on Minor stage claim would be payable. The premium for the all the policy term period is waived off so there is no future premium payout needed.
Advanced stage
In the Major stage, the balance of 150% of the Sum Assured less benefit claimed earlier would be payable.
Sum Assured Reset Benefit
In this benefit after a period of 3 years from the date of valid Minor or Major Cancer claim within the policy term, and subject to no further diagnosis of Minor, Major or Advanced Stage Cancer during the same period, the full Sum Assured will be restored. The Sum Assured Reset benefit is available only once during the policy term.
Rebate
| Sum Assured | Rebates on premium per thousand Sum Assured (in Rs.) |
|---|---|
| 10 Lakhs to 24 Lakhs | Nil |
| 25 Lakhs to 39 Lakhs | 0.12 |
| 40 Lakhs to 50 Lakhs | 0.20 |
Eligibility for SBI Sampoorna Cancer Suraksha
| Age Limit | Minimum: 6 years for Child, 18 years for Adult
Maximum: 17 years for Child, 65 years for Adult |
|
| Maturity Age | 75 Years | |
| Sum Assured | Minimum: 10,00,000
Maximum: 50,00,000 |
|
| Policy Term | Minimum: 5 Years
Maximum: 30 Years |
|
| Premium Paying Term | Same as policy term | |
| Premium Frequency | Half-Yearly: 51.00% of annual premium Quarterly: 26.00% of annual premium Monthly: 8.50% of annual premium | |
| Policy Premium Term | Minimum | Maximum |
| Yearly-600
Half Yearly-300 Quarterly- 150 Monthly- 50 |
Based on the age and sum assured | |
Taxes Benefit of SBI Sampoorna Cancer Suraksha
There is an income tax a benefit for in this policy. There is Income tax exemptions as per the Income Tax Law under the section 80C.
Waiting period
There will be no claims admitted in the initial waiting period of 180 days from the date of commencement of risk or date of revival.
Revival
A lapsed policy can be revived within 2 years from the date of the first unpaid premium.
Exclusion
There will be no benefit payable with respect of any CIS or Early Stage Cancer or Major Stage Cancer or Advanced Stage Cancer, resulting directly or indirectly from or caused or contributed by:
- Sexually Transmitted Diseases AIDS or HIV.
- Any pre-existing cancer including carcinoma in situ
- Nuclear, biological or chemical contamination (NBC),
- The policy shall terminate and no benefit shall be payable under the policy if the diagnosis or signs or symptoms related to cancer occurred during the waiting period.
Additional benefit
Medical Second Opinion:
This service is provided by the Mediguide India, which enables the insurer to receive the second opinion of their diagnosis and treatment plans by another doctor. This service would be provided on the diagnosis of cancer and CIS only.
