Insurance Plans April 27, 2020

ABSLI Hospital Plus Plan

Nowadays the hospitalization expenses are quite high and it becomes difficult for the individual to manage the expenses and take care of the patient together. Therefore it is better to take a health insurance plan and let the company meet the hospitalization expenses. One such plan is ABSLI Hospital Plus Plan that helps you to cover all the hospitalization expenses and enables you to stay with the patient and take care of him. This plan overcomes all types of the financial crisis that occurs during hospitalization and it is better to take a health insurance plan before it is too late. Let’s explore all the key features of this plan and see how it can benefit you during a medical emergency.

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Key Features of Hospital Plus Policy

  1. The insured will receive a fixed amount of cash from the company during hospitalization.
  2. There are other additional benefits as well in case of emergency hospitalization.
  3. 4 options are available in the policy and you can choose any option among them.
  4. You can also take this insurance for your family members.
  5. Get Tax benefits under Section 80D of the Income-tax Act 1961.

Benefits of the Hospital Plus Plan

There are some exclusive benefits of this policy. So you must go through all of them before taking the plan.

Daily Cash benefits During Hospitalisation

You will receive daily hospitalization cash benefits on the hospitalization of more than 48 hours. You have to choose the cash benefits at the time of inception of the policy. There are four options in which you can choose the sum of Daily Hospitalization Cash Benefits. An additional 100% sum of the DHCB will be paid every day if you stay in the intensive care unit.

Accidental Hospitalization Benefit

If you are hospitalized due to an accident then you will receive accidental hospitalization benefits in addition to the daily hospitalization cash benefits. The life insured in this policy is only eligible to take the sum assured.

No Maturity and Death Benefits

In case your policy matures and no hospitalization activity took place then you will not receive a single sum from the company and the same happens in case of a death. It simply means that there are no death and maturity benefits in this plan.

Recuperative Benefits

If the insured is hospitalized for 10 consecutive days then he is eligible to take the recuperative benefit that means the sum assured at the inception of the ABSLI Hospital Plus Plan once the patient is discharged from the hospital. Daily Hospitalisation Cash Benefits will be given after 48 hours of hospitalization and the insured receives a lump sum amount after he gets discharged from the hospital spending 10 days and more.

Benefit Options in the Policy

There are four types of benefit options in this plan. So you must go through these options and decide the best option as per your needs.

Benefit Option A

  1. Sum Assured- INR 75000
  2. Daily Hospitalization Cash Benefit- INR 1000 per day
  3. If the Insured is in ICU- Additional Amount Equal to Daily
  4. Hospitalization Cash Benefits
  5. Accidental Hospitalization Benefit- INR 1000 per day
  6. Recuperative Benefit- INR 1000

Benefit Option B

  1. Sum Assured- INR 225000
  2. Daily Hospitalization Cash Benefit- INR 3000 per day
  3. If the Insured is in ICU- Additional Amount Equal to Daily
  4. Hospitalization Cash Benefits
  5. Accidental Hospitalization Benefit- INR 3000 per day
  6. Recuperative Benefit- INR 3000

Benefit Option C

  1. Sum Assured- INR 375000
  2. Daily Hospitalization Cash Benefit- INR 5000 per day
  3. If the Insured is in ICU- Additional Amount Equal to Daily
  4. Hospitalization Cash Benefits
  5. Accidental Hospitalization Benefit- INR 5000 per day
  6. Recuperative Benefit- INR 5000

Benefit Option D

  1. Sum Assured- INR 562500
  2. Daily Hospitalization Cash Benefit- INR 7500 per day
  3. If the Insured is in ICU- Additional Amount Equal to Daily
  4. Hospitalization Cash Benefits
  5. Accidental Hospitalization Benefit- INR 7500 per day
  6. Recuperative Benefit- INR 7500

In the Option D of the ABSLI Hospital Plus Plan, if the age of the policy taker is 50 years and above then he cannot choose this option. The maximum sum assured for the individual of more than 50 years of age can take a maximum assured of INR 375000 only.

About ABSLI Hospital Plus Plan

ParticularsDetails
Age of Entry as per Last Birthday18 Years to 65 Years for Adults
3 Months to 18 Years for a Child
Maximum Renewable Age95 Years for Adults
17 Years for a Dependent Child
The Term of the Policy5 Year Guaranteed and it is Renewable
Premium Paying TermRegular Pay and Guaranteed Renewal after every 5 years
Sum AssuredOption A- INR 75000 per life
Option B- INR 225000 per life
Option C- INR 375000 per life
Option D- INR 562500 per life
Individuals above the age of 50 Years cannot take the Option D
Minimum PremiumOption A- INR 1225 for 1 Adult between the age of 18 Years to 25 Years
Option B- INR 2874 for 1 Adult between the age of 18 Years to 25 Years
Option C- INR 4523 for 1 Adult between the age of 18 Years to 25 Years
Option D- INR 6585 for 1 Adult between the age of 18 Years to 25 Years
Maximum PremiumOption A- INR 4699 for 1 Adult between the age of 63 Years to 65 Years
Option B- INR 13298 for 1 Adult between the age of 63 Years to 65 Years
Option C- INR 21896 for 1 Adult between the age of 63 Years to 65 Years
Option D- INR 13725 for 1 Adult between the age of 46 Years to 50 Years
Premium Payment IntervalsAnnually and Monthly

Advantages of taking the Policy from Aditya Birla Sun Life Insurance

  1. Aditya Birla gives 15 days free look period in the ABSLI Hospital Plus Plan.
  2. If in case you are unable to pay the premiums on time then the company gives you a 30 days grace period.
  3. In this plan, you have the option to renew the policy after 5 years.
  4. All the details of the policy are available online and you can even take the policy online.

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