SBI Life forays into health insurance biz with 'Hospital Cash' plan

Hospital Cash plan guards against the erosion of policyholders' accumulated savings on account of medical bills by providing a fixed daily allowance to the insured person for every day of hospitalisation

SBI Life Insurance today announced a foray into the health insurance segment with the launch of its 'Hospital Cash' plan, which provides a fixed daily allowance to policyholders for each day of hospitalisation.

The Hospital Cash plan guards against the erosion of policyholders' accumulated savings on account of medical bills by providing a fixed daily allowance to the insured person for every day of hospitalisation, irrespective of the hospital bill amount, SBI Life said in a statement.

"Our foray into health insurance is aimed at addressing the issues of rising healthcare costs and acute under-penetration of health insurance in India," SBI Life MD & CEO M N Rao said.

The plan is available for a fixed policy term of three years and offers the flexibility of premium payment options, with collection on a yearly, half-yearly or quarterly basis. The cover can be renewed till the age of 75 years.

Hospital Cash's Daily Hospitalisation Cash Benefit (DHCB) provides policyholders with a 100 per cent fixed payout from the first day of hospitalisation without any deductions.

Furthermore, in case the insured person is admitted into an ICU, the amount receivable by the policyholder is twice that of the DHCB.

An additional fixed lumpsum of Rs 10,000 is payable to policyholders covering two or more family members under the plan in case the insured person is admitted to the ICU. The product would also be made available for subscription online.

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Honda to recall over 72,000 City sedans in India

"HSCI is carrying out replacement of defective power window switches as part of a global exercise by Honda Motor Company to ensure stringent quality standards for its products," the company said in a statement

New Delhi: Japanese auto major Honda today said it will recall 72,115 units of its mid-sized sedan City in India to replace defective power window switches as part of a global exercise, reports PTI.

The company, which is present in India through a joint venture with the Siel Group-Honda Siel Cars India-said the recall would cover the second generation City that were manufactured from 2005 to 2007.

"HSCI is carrying out the part replacement as part of a global exercise by Honda Motor Company to ensure stringent quality standards for its products," the company said in a statement.

The replacement would be carried out free-of-cost and the owners will be contacted to carry out the exercise smoothly, it added.

"Although no incident has been reported in India, HSCI is extending the same exercise to the previously sold Honda City manufactured in 2005 to 2007," the company said.

Earlier, HSCI had announced a similar recall in January last year for 8,532 units of the City, manufactured in 2007.

The company, at present, sells the third generation of the City, which is not affected by the recall exercise, HSCI said.

Honda Motor Co is recalling 9.36 lakh cars, including hatchback Jazz, City and sports utility vehicle CR-V, globally due to defective power window switches.

HSCI, however, said the global recall does not impact the Jazz and CR-V sold in India.

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Relief from pesky calls and SMSes from 27th September

Subscribers have the option of choosing to be under the 'Fully Blocked' category, which is akin to the 'Do Not Call Registry'. If a user selects the 'Partially Blocked' category, they will receive SMSes in categories chosen by them

New Delhi: Millions of telecom subscribers (mobile and landline) will finally get relief from unwanted calls and SMSes from 27th September, reports PTI.

All those subscribers who have registered with the National Customer Preference Registry (earlier known as 'Do Not Call Registry'' would get relief from all commercial communications, the Telecom Regulatory Authority of India (TRAI) said.

"...relevant clauses of regulations have been amended and the regulations are being implemented from 27th September," it added in a statement.

India has over 850 million mobile and over 34 million fixed line subscribers.

Last year, the regulator had announced recommendations to curb the menace of such calls and SMSes but the guidelines could not be implemented in the absence of an identified number series, first in case of commercial calls coming from mobile networks and then in landline phones.

"DoT has provided '140' number series to be allocated to telemarketers. Access providers (operators) have to make relevant provisions in their network before allocation of resources to telemarketers using '140' numbering series from both mobile and fixed line networks," TRAI said.

TRAI had last year recommended a maximum fine of Rs2.5 lakh on telemarketing companies for making unsolicited calls or SMSes to a consumer registered under the NCPR-a modified version of TRAI's 'Do Not Call Registry' list.

Subscribers have the option of choosing to be under the 'Fully Blocked' category, which is akin to the 'Do Not Call Registry'. If a user selects the 'Partially Blocked' category, they will receive SMSes in categories chosen by them.

TRAI has identified seven categories-banking and financial products, real estate, education, health, consumer goods, automobiles, communication and entertainment, tourism and leisure.

Further, the regulator has reduced the periodicity for subscriber to change their preference in NCPR to seven days from three months.

"In order to provide flexibility to a customer to change his preference, the existing restriction of three months has been reduced to seven days," TRAI said.

As of now a call from a landline number can be identified based on an STD code-the initial digits and then levels (digits following STD codes), which differs from exchange to exchange within a city.

Adding three-digit series to landline numbers will take total digits to 13 and to transmit such numbers on telecom networks, especially for caller line identification, two telecom PSUs BSNL and MTNL would require to install new equipment.

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