SBI General Insurance Company was established in the year 2010 by the coming together of State Bank of India, India’s largest and multinational public sector bank and Insurance Australia Group (IAG), Australia based multinational insurance company. SBI General Insurance Company is a combination of global expertise and domestic values. The company offers a wide array of general insurance products such as motor insurance, health insurance, personal accident, travel insurance and home insurance for the retail customer segment.
The company offers various non-life insurance products like fire insurance, marine insurance, aviation insurance and liability insurance etc for the corporate segment along with specialised plans for a rural customer segment. The company has a nationwide presence through its branches and satellite offices in most of the cities along with the wider presence of State Bank of India branches in every corner of the country.
Important Facts about SBI General Insurance Company
SBI General Insurance has been consistently recognised for innovative products and contribution to Indian Insurance sector. Following are some of the important facts to note about the company –
- SBI General Insurance has won the ‘ET Best BFSI Brand Award 2018’
- The company has been awarded ISO 27001:2013 certification
- The company has received ‘Best E-magazine award at the 57th ABCI awards
- The company has received ‘Best ET BFSI Brand award 2016’
- The company has received ‘Bancassurance Leader (Medium and Small Category)’ award by Fintelekt
- SBI insurance products are easily accessible as the company currently has 125 branches and 350 satellite offices across India. SBI general insurance products are easily available through 22,000+ branches of State Bank of India across the country.
- The company has a collaboration with more than 6000 hospitals across the country.
- Insurance products offered by SBI General Insurance Company Limited can be accessed even in the remote areas through 5,500+ Regional Rural Banks (RRBs)
- The Company has a robust multi-distribution channel including bancassurance, broking, digital, agency and retail direct channels etc.
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SBI Health Insurance Plans
As mentioned, SBI General Insurance offers a wide spectrum of non-life insurance products for a various customer segment. Health insurance is one of the main products offered by the company. SBI General Insurance offers a variety of customisable and reasonable health insurance plans to cater to the specific needs of individuals, family and members of the group.
Benefits of SBI Health Insurance Plans
- Wide coverage – SBI medical insurance plans provide comprehensive coverage with a wide variety of health risks covered for an individual and for his/her family.
- Convenience – SBI medical insurance plans can be conveniently bought online. The plans offered by the company are easily accessible with the huge presence of SBI bank branches. Pre-policy medical check-ups are not needed till 45 years of age for almost all SBI health insurance plans which makes it easy to avail.
- Flexible – Most of the SBI medical insurance plans come with an option of flexibility to choose from various coverage options. This helps the buyer to choose the plan variant based on their need.
- Customisation – One of the most important benefits offered by SBI medical insurance plans is the customisation which allows the buyer to customise the plan based on their need and affordability.
- Cashless facility – SBI General Insurance Company is tied up with 6,000+ network hospitals to offer cashless healthcare treatment facilities to customers. Network hospitals can be easily located with the help of their website
- Quick claim settlement – Claim process for SBI health plans is quite easy and simple. With the easy and hassle-free process of claims, the settlement is done quickly.
- Additional coverage benefits – There are various riders or add-ons offered for SBI health plans which allows its buyers to enhance the coverage. Add-ons are optional and can be availed at an additional premium cost.
- Tax benefit – The premiums paid for SBI medical insurance plans qualify for tax deduction under Section 80D of the Income Tax Act, 1961. Premiums paid towards coverage availed for self, spouse, dependent children and parents can be claimed for a tax deduction. Following are the details of tax deductions allowed under Section 80D of the IT act.
Description | The maximum premium for self, spouse and dependent children | Maximum premium for parents (dependent/non-dependent | Total deductions available under Section 80D |
None above 60 years age | INR 25,000 | INR 25,000 | INR 50,000 |
Assessee and family is below 60 years and parents are above 60 years | INR 25,000 | INR 50,000 | INR 75,000 |
Assessee and parents are above 60 years of age | INR 50,000 | INR 50,000 | INR 1,00,000 |
Types of SBI Health Insurance Plans
SBI General Insurance Company offers a variety of health insurance plans suitable for the unique needs of people. Following are the types of health plans offered by the company –
- Individual health insurance plans
- Family floater health insurance plans
- Critical illness health insurance plans
- Senior citizen health insurance plans
- Top-up health insurance plans
- Fixed benefit health insurance plans
- Group health insurance plans and others
Let’s look into each health insurance plan offered by SBI General Insurance Limited in detail.
● SBI Arogya Supreme Health Insurance Policy
The Arogya Supreme Health Insurance policy by SBI is a comprehensive health insurance plan that can help you in all kinds of medical urgencies that can arise anywhere and at any time. Along with wide coverage, the policy allows you to be confident about the future, as you know that in the case of hospitalisation, the sky-high treatment costs will not be out of your reach.
The salient features of the policy are discussed below:
- SBI Arogya Supreme Health Insurance policy offers you a wide range of 20 covers along with 8 optional benefits
- Apart from self and your spouse, you can cover your children, parents as well as in-laws
- In-patient hospitalsaition includes:
- Nursing
- ICU
- Doctors’ fee
- Diagnostic procedures etc
- You can opt for a policy tenure of up to 3 years
- The policy offers coverage for Covid-19
- 100% refil in case of full or partial use of your sum insured
- Alternate treatments, such as Ayurveda, Yoga, Unani, Sidha and Homeopathy are covered
- Benefits such as air ambulance, recovery benefit, compassionate benefit etc. make the plan very practical
- Preventive Health Check-ups are available
- The policy also offers a number of discounts that make it all the more affordable
- There is an HIV/ AIDS cover offered with the plan
- Coverage for mental health is also provided
Eligibility criteria of SBI Arogya Supreme Health Insurance policy
Age Criteria | 18 years – 65 years |
Sum insured | Up to INR 25,00,000 |
Cumulative bonus | 15% up to 100% of the Basic Sum Insured for every claim-free year |
Type of Coverage | Individual and Family Floater, both are available |
Waiting period | Certain Illnesses: 2 years Pre-Existing Illnesses: 4 years |
Policy period | 1 year/ 2 years/ 3 years |
● SBI General’s Arogya Sanjeevani Policy
Accidents are uncertain, and accidental cases skyrocket each day. Sudden accidents, critical illnesses, and routine health issues can cause you to fall into a financial crunch, which may ruin your assets, career, and plans as well. Thus, the SBI Arogya Sanjeevani Policymakes sure that you are financially prepared to be incurred due to hospitalization and medical expenses.
Salient features of the SBI Arogya Sanjeevani Policy:
The features of the policy are discussed below:
● SBI General’s Arogya Premier Policy
SBI General’s Arogya Premier Policy is a comprehensive healthcare plan that is exclusively designed to provide wider medical coverage with many attractive features. The plan aims to provide complete financial security and peace of mind during health emergencies. The coverage under the policy can be availed on both individual and family floater basis.
Features of SBI General’s Arogya Premier Policy
● SBI General’s Arogya Plus Policy
SBI General’s Arogya Plus Policy provides financial protection against rising out-patient (OPD) medical expenses and hospitalisation expenses. This SBI health insurance policy provides amazing benefits to manage your healthcare expenses. The coverage under the plan can be availed on both individual and family floater basis.
Features of SBI General’s Arogya Plus Policy
- The policy mainly covers OPD consultation and treatments expenses along with coverage offered for in-patient care, pre and post hospitalisation expenses, 142 daycare procedures, ambulance expenses, domiciliary hospitalisation, maternity expenses and alternative treatment.
- Flexibility to choose the coverage term – 1 year, 2 years or 3 years
- Discounts on availing long-term cover
Eligibility Criteria for SBI General’s Arogya Plus Policy
Entry age | 18 years to 65 years |
Renewability | Lifelong renewable |
Entry age for dependent children | 3 months |
Pre-entrance medical check-ups | No medical check-up is needed until the age of 55 years |
Relationships covered | Self, spouse, two dependent children, parents and parents-in-law |
Co-payment | Co-payment clause is not applicable |
Pre-existing illnesses waiting period | 48 months |
Sum insured | INR 1 lakh, INR 2 lakhs, INR 3 lakhs |
● SBI General’s Arogya Top Up Policy
SBI General’s Arogya Top-up Policy is a great supplement to avail extra financial protection at a reasonable cost on top of the basic health insurance plan.
Features of SBI General’s Arogya Top Up Policy
● SBI General’s Health Insurance Policy – Retail
SBI General’s Retail Health Insurance Policy is a comprehensive package that offers complete financial protection by addressing the unique healthcare needs of people. The plan comes in three different variants to suit the requirements. This SBI health insurance policy comes with various attractive features and customisable benefits.
Features of SBI General’s Health Insurance Policy – Retail
● SBI General’s Critical Illness Insurance Policy
A sudden diagnosis of critical illnesses leaves one emotionally and financially shattered. To fight back the situation it’s important to have adequate financial protection. SBI General’s Critical Illness Insurance Policy is specifically designed to provide required financial protection against critical illnesses. The policy covers major common critical illnesses. It is a fixed benefit plan that pays out the lump sum benefit on diagnosis of critical illness to help in bearing the heavy treatment cost.
Features of SBI General’s Critical Illness Insurance Policy
- The policy covers 13 major and important critical illnesses
- Flexibility to choose the term – 1 year or 3 years
- The policy offers larger cover at an attractive rate of premium
Eligibility Criteria for SBI General’s Critical Illness Insurance Policy
Entry age | 18 years to 65 years |
Renewability | Renewable for lifetime till the insured makes the first critical illness claim |
Pre-entrance medical check-ups | No medical check-up is needed until the age of 45 years. However, the requirement may depend on medical history, age and sum insured chosen. |
Relationships covered | Self, spouse and dependent parents |
Co-payment | No co-payment clause applicable |
Pre-existing illnesses waiting period | Pre-existing illnesses are permanently excluded from the policy |
Waiting period for critical illness | 90 days |
Sum insured | Age below 60 years -INR 2 lakhs to INR 50 lakhs |
Age 60 years and above – INR 2 lakhs to INR 15 lakhs |
● SBI General’s Hospital Daily Cash Insurance Policy
SBI General’s Hospital Daily Cash Insurance Policy is a type of SBI health insurance plan that provides fixed benefits for each day of hospitalisation irrespective of actual medical costs incurred. The policy provides extra protection by taking care of additional expenses which are not covered under the regular health insurance policy.
Features of SBI General’s Hospital Daily Cash Insurance Policy
- Covers daily hospitalisation expenses for each continuous and completed period of 24-hour hospitalisation
- Additional benefits include ICU charges (twice the daily benefit) and accidental hospital confinement expenses (up to double the daily benefit)
- The policy also covers convalescence expenses for up to INR 5,000
- Flexibility to choose the number of days of coverage – 30 days and 60 days
- Flexibility to choose the daily cash benefit amount from four different options – INR 500, INR 1,000, INR 1,500 and INR 2,000
Eligibility Criteria for SBI General’s Hospital Daily Cash Insurance Policy
Entry age | 18 years to 65 years |
Renewability | Lifelong renewable |
Entry age for dependent children | 3 months |
Pre-entrance medical check-ups | No medical check-up is needed until the age of 45 years |
Relationships covered | Self, spouse, dependent children and dependent parents |
Co-payment | Co-payment clause is not applicable |
Pre-existing illnesses waiting period | Pre-existing illnesses permanently excluded from the policy |
Benefits of SBI General’s Hospital Daily Cash Insurance Policy:
Benefits | Plan A | Plan B | Plan C | Plan D |
Daily hospitalisation cash benefit | INR 500 | INR 1,000 | INR 1,500 | INR 2,000 |
ICU hospitalisation | INR 1,000 | INR 2,000 | INR 3,000 | INR 4,000 |
Accident hospital confinement | INR 1,000 | INR 2,000 | INR 3,000 | INR 4,000 |
Convalescence benefit for hospitalisation exceeding 10 days | Three times the benefit payable up to a maximum of INR 5,000 |
● SBI General’s Group Health Insurance Policy
SBI General’s Group Health Insurance Policy caters to the healthcare needs of you and your family at a reduced cost by covering various health risks. Plans make quality healthcare affordable for you and your family. This SBI health insurance policy is offered to members of the group and their family.
Features of SBI General’s Group Health Insurance Policy
- The policy offers multiple coverage options – individual and family floater options
- The policy provides coverage for in-patient hospitalisation, pre and post hospitalisation, ambulance charges, domiciliary hospitalisation, daycare surgery procedures
- Coverage for selected daycare procedures such as dialysis, chemotherapy, dental surgery, tonsillectomy, eye surgery etc.
Eligibility Criteria for SBI General’s Group Health Insurance Policy
Entry age | 18 years to 65 years |
Renewability | Lifelong renewable |
Entry age for dependent children | 3 months |
Pre-entrance medical check-ups | No medical check-up is needed till the age of 65 years |
Relationships covered | Self, spouse, dependent children, dependent parents and parent-in-laws |
Co-payment | 10% co-payment applicable on all eligible admissible claims |
Pre-existing illnesses waiting period | 48 months |
Sum insured | INR 1 lakh to INR 5 lakhs |
● SBI General’s Loan Insurance Policy
The loan insurance policy offered by SBI General Insurance Company Limited is specifically crafted to meet the financial obligations and liabilities during medical emergencies. This plan helps you with financial stability and relieves you from the stress of loan during health contingencies.
Features of SBI General’s Loan Insurance Policy
Exclusions in SBI Health Insurance Plans
Though sbi medical insurance plans offer a wide range of coverages, there are certain general exclusions apply for the plans. Following are the exclusions under SBI health insurance plans –
- Expenses incurred for the treatment of illnesses or an injury incurred within 30 days of commencement of the policy.
- Expenses incurred for specific illnesses like benign prostatic hypertrophy, diabetes and related complications, cataract, non-infective arthritis, hypertension, heart disease, treatment of spondylosis, hysterectomy, surgery of varicose veins and surgery for prolapsed intervertebral disc etc are not covered for 24 months from commencement of the policy.
- Expenses incurred for the treatment of pre-existing illnesses is not covered for 48 months from the date of commencement of the policy.
- Any illness/injury directly or indirectly caused by war, hostilities, invasion, acts of foreign enemies, commotion, civil war, rebellion, unrest, insurrection, revolution and nuclear weapons/materials
- Treatments outside the geographical limit of the policy
- The cost of external appliances like contact lenses, spectacles, hearing aids, crutches, dentures, wheeling chair, artificial limbs, and artificial teeth etc are not covered
- Cosmetic or aesthetic treatments, surgery for change of gender and plastic surgery etc. are not covered
- Expenses incurred for the treatment of external or internal congenital illnesses are not covered.
- Sexually transmitted diseases, AIDS/HIV are not covered
- Alcohol and drug abuse
- Deliberate and intentional self-injury, suicide or attempt suicide are not covered
Premium Calculator for SBI Health Insurance Plans
Premiums calculation for SBI health insurance plan is quite simple, easy and quick with the online premium calculator. All you need to do is to provide some of your basic information such as name, age, contact details and health-related details and coverage requirement to calculate the premium online instantly. Online premium calculator instantly and effectively calculates the premium based on the information given by you. You can change the details of your requirement for recalculation of premium.
How to Buy SBI Health Insurance Plans?
You can purchase SBI health insurance plans through both online and offline mode. Offline plans are sold by the insurance company directly at the branch offices or can even be purchased through insurance advisors. SBI health insurance plans available on the digital platform are more convenient to buy through their company’s website with some simple buying process.
However, the easiest way to buy a SBI health insurance policy would be buying online through Turtlemint wherein you can compare various similar health insurance plans and then buy the best suitable plan from SBI. Following is the simple process to buy SBI health insurance plans online through Turtlemint –
- Go to Turtlemint and choose the category of insurance plan that you would want to purchase
- To buy a health plan, you need to
- Share your profile details which would include –
- Gender
- Age
- Age of the members whom you want a cover
- Information about pre-existing illnesses
- The annual income level of the family
- Are PIN code
- Based on your details, a list of some of the best health insurance plans available in the market are displayed
- You can select the best suitable plan after comparison
- Once you choose the plan, you need to fill in the online application form
- Once the details are filled, proceed for premium payment online
- Once the application is filled and payment is done, you can buy the plan easily
The Renewal Process for SBI Health Insurance Plans
Renewing a SBI health insurance policy is a simple and quick process. Following are the steps for renewing the policy online through the company’s website –
- Login to SBI General Insurance Company’s website and click on ‘renew online’ option in the home page under health insurance category
- Provide your policy details and pay the premium online. Once the payment is done policy would be renewed.
SBI health insurance plans can also be renewed through Turtlemint online. If you have purchased a policy through Turtlemint, you would be having user credentials. Log in with your user details and access the existing policy details on the portal. Click on the ‘renew’ option and pay the renewal premium online. Your policy would be renewed easily.
Claim Process for SBI Health Insurance Plans
The claim process for SBI health insurance plans is simple and quick. SBI General Insurance provides round the clock call assistance for claims support and convenient digital platform for claim registration. The process varies depending on the type of health claim you are making. Following is the simple process for health claims –
- Cashless health insurance claim process
If you take admission at a network hospital of SBI General Insurance Company, the following is the process to be followed for the cashless claim –
- The cashless request needs to be submitted to TPA (Third party administrator) of SBI General Insurance Company Limited. In case of planned admission, the request needs to be submitted 48 hours in advance to the admission. In case of emergency admission at the hospital, the request needs to be submitted to TPA within 24 hours of admission at the hospital
- TPA of SBI General Insurance Company will review all the initial documents submitted by the hospital authorities along with cashless claim request
- Once the cashless claim request is approved by the insurance company, further documents are to be produced by the hospital to process the claim
- Once all the documents are verified, the claim amount will be directly settled with the network hospital
- Reimbursement health insurance claim process
In the case of the medical treatment availed at a hospital which is not included in-network hospital of SBI General Insurance Company, medical expenses can be claimed via the reimbursement process. Following process needs to be followed for claim reimbursement –
- Take admission at the non-network hospital of the insurance company and settle the bill out of your pocket
- Collect all the original documents from the hospital
- Register the claim with SBI General Insurance Company by submitting original documents received from the hospital along with duly filled and signed claim form and other relevant documents, if any
- TPA of SBI General Insurance Company will scrutinise all the documents and update the insured on status of a claim
- Once the claim is approved, the payment of claim will be made within a specified time period by SBI General Insurance Company Limited
Documents Required for SBI Health Insurance Claims
Following are the documents required for SBI health insurance claims –
- Duly filled and signed claim form
- Treatment papers and medical practitioner’s prescription
- Diagnosis reports (ECG/Scan/X-ray, Lab test reports etc)
- PAN copy of insured
- Discharge certificate with original medical bills and receipts given by hospitals, diagnostic centres, doctors and pharmacies
- Police First Information Report copy for accident cases
- Copy of health card
- For reimbursement cases, provide bank details along with cheque copy containing all the details (account number, IFSC code and name etc)
For any queries, you can contact Turtlemint support team on 1800-266-0101 or SBI General Insurance Company.
Company Address and Contact Information – SBI General Insurance Company
Address: SBI General Insurance Company, ‘’Natraj’’ 301, Junction of Western Express Highway and Andheri Kurla Road, Andheri (East) Mumbai – 400 069
Toll-Free Number: 1800 22 1111