365Telugu.com online news,Mumbai, June 30th, 2025 : SBI General Insurance, a leading Indian general insurance provider, has partnered with Starfin India, a subsidiary of BLS E-Services, to introduce an innovative Hospital Daily Cash Benefit Plan designed to provide crucial financial support to low-income families during hospitalization.
The new plan aims to mitigate the significant financial strain often caused by hospitalization, which includes not only treatment costs but also income loss and out-of-pocket expenses such as travel, medication, and attendant care.
Policyholders will receive a fixed daily cash benefit for hospital stays due to illness or accidents. The plan also includes coverage for accidental death and partial disability, offering additional protection.
Priya Kumar, Business Head – Emerging Business Lines at SBI General Insurance, emphasized the timely nature of the collaboration, citing IRDAI’s objectives of ensuring timely claim settlements, preventing fraud, and establishing effective grievance redressal mechanisms.
“Access to timely financial support during hospitalisation can make a significant difference for vulnerable families,” Kumar stated, highlighting the initiative’s role in strengthening the financial resilience of underserved communities.
Shikhar Aggarwal, Chairman of BLS E-Services Ltd (parent company of Starfin India), echoed this sentiment, stating, “By offering a daily cash benefit plan, we aim to alleviate the financial burden of hospitalization, empowering families during their most vulnerable times.”
He further noted that the collaboration represents a significant step in providing accessible and affordable financial security to underserved communities.
Starfin India will leverage its tech-enabled platform to streamline the insurance experience for customers. The platform facilitates quick policy issuance and offers a seamless, end-to-end claims process.
Users can easily select coverage options, provide necessary details, and make online payments. A cover note is issued upon successful completion, followed by the final Certificate of Insurance from SBI General within a specified timeframe.
Claims can be registered effortlessly through the Claims app or web portal, with a simple document submission process and a 30-day turnaround time post-verification.
Lokanath Panda, COO, BLS E-Services, underscored the plan’s comprehensive benefits. “This innovative plan provides crucial daily cash support and accidental death/disability coverage, ensuring financial security during critical health challenges,” Panda remarked, affirming the plan’s significance in creating a more secure future for low-income families.
This initiative highlights the shared commitment of Starfin India and SBI General Insurance to empower underserved communities with accessible and affordable health insurance solutions, fostering financial resilience during medical emergencies.