About SBI General Insurance
SBI General Health Insurance plans were born out of a collaboration between State Bank of India (SBI) and Insurance Australia Group (IAG). Beginning in 2010, SBI Cashless Health Insurance has become one of India’s top health insurance providers, with the numerous SBI family health insurance plans, covering critical illnesses and accidents. This extensive and comprehensive coverage afforded by every SBI health policy ensures that they remain at the forefront of the insurance industry.
SBI Mediclaim Insurance offers cashless hospitalisation across their 6000+ network hospitals. They maintain a 59.42% claim settlement ratio having sold 7.5 lakh policies since their inception. Having a dedicated claim settlement and a range of Sum Insured options along with quick and easily accessible customer care places SBI’s policies in high demand.
The variety of SBI Health Insurance plans in India include:
- SBI Arogya Plus Policy Health Insurance
- SBI Arogya Premier Policy Health Insurance
- SBI Critical Illness Insurance Policy
- SBI General Group Health Insurance Policy
- SBI Hospital Daily Cash Insurance Policy
- SBI Retail Health Insurance Policy
Let’s take a closer look at every SBI health insurance plan.
SBI ArogyaPlus Policy Health Insurance
- Entry Age: 3 months - 65 years
- Policy Term: 1-3 years
- Sum Assured: Rs.1-3 lakhs
- Pre and Post-Hospitalisation: 60 and 90 days, respectively.
Other benefits:
- Ambulance Coverage: Up to Rs. 1500
- Daycare Coverage: Coverage for 142 daycare procedures
SBI Arogya Premier Policy Health Insurance
- Entry Age: 3 months - 65 years
- Policy Period: 1-3 years
- Sum Assured: Rs.10-50 lakhs
- Pre and Post-Hospitalisation: 60 and 90 days, respectively.
Other benefits:
- Covers health checkup costs up to Rs. 5000 after 4 consecutive claim-free years
- Road/Air Ambulance charges: Up to Rs. 1 lakh.
- Sum insured is 100% reinstated after a claim during the policy term.
SBI Critical Illness Insurance Policy
- Entry Age: 18-65 years
- Policy Term: 1-3 years
- Sum Insured: Rs.2-50 lakhs (maximum: Rs. 15 lakhs for individuals over 60 years of age)
- Coverage: 13 critical illnesses
Other benefits:
- Free-Look Period: 15 days
- Individuals under 45 years old do not need a pre-policy medical checkup.
- Critical Illnesses Covered: Aorta Graft Surgery, Coma, Coronary artery bypass grafts (with surgery to divide the breastbone), Heart Valve Surgery, Kidney Failure (End Stage Renal Failure), Major Organ Transplant, Multiple Sclerosis, Myocardial Infarction (First Heart Attack), Paralysis, Primary Pulmonary Arterial Hypertension, Stroke, Total Blindness.
SBI Hospital Daily Cash Insurance Policy
- Entry Age: 18-65 years (Adult); 3 months onwards(Child)
- Renewability: Lifelong
- Sum Insured: Rs.500-2000/day
- Coverage Period: 30-60 days
Other benefits:
- 10 continuous days of hospitalisation receive thrice the Sum Insured or Rs. 5000, whichever is less.
- ICU benefits are double the normal amount.
- Daily cash benefits: Up to Rs.2000 (hospitalisation); Rs.4000 (ICU and accidental hospitalisation)
SBI Retail Health Insurance Policy
- Entry Age: Maximum age of entry is 65 years
- Policy Term: 1 year
- Sum Insured: Rs.1 lakh - 5 lakhs
- Pre and Post-Hospitalization: 30 and 60 days, respectively
Other benefits:
- Ambulance Coverage: 1% of Sum Insured up to a maximum of Rs.1500
- Free Health Checkup Benefit: Expenses covered up to 1% of Sum Insured (maximum Rs.2500) after 4 consecutive claim-free years.
- Convalescence Benefit: Rs.5000 - provided after 10 days of continuous hospitalization.
The Benefits of SBI Medical Insurance Plans
Whether for individual or family floater health insurance, SBI remains one of the most popular options. This is due to a number of reasons, denoting the clear benefits of purchasing an SBI health insurance policy.
- Every SBI medical insurance policy is different while having fundamentally similar benefits. They also all offer coverage ranging from daycare and OPD charges to critical illness cover. Therefore, you can choose the ideal policy that meets your and your family’s insurance needs.
- You can make cashless claims under your SBI cashless mediclaim policy across 6000+ hospitals in the country. This ensures fuller, better coverage, and less financial hassle.
- SBI’s policies allow you to avail a free health checkup after 4 claim-free years.
- You have floater options allowing you to purchase an SBI mediclaim policy for your family instead of just yourself. Floater policies are a better investment, with lower premiums.
- There is no pre-policy medical examination required for individuals under 40 years. Additionally, the Sum Insured gets reinstated after a claim during the policy term.
- You have options to enhance your cover and better your protection by removing sub-limits on room rent and consultation fees.
- All premiums paid to renew your SBI Mediclaim Policy are deductible under Section 80(D) of the Income Tax Act.
How to Buy an SBI Health Insurance Plan
Now that you know the various plans and benefits offered by SBI plans, actually buying a plan comes into question. You can either buy your SBI Health Insurance online or offline.
Online Process:
- Visit cover360.in and go to the “Health Insurance” tab.
- Enter the cover amount and the necessary details. Then click on Continue.
- You will receive a quote and a list of plans.
- Choose an SBI plan of your choice from the list and buy it.
Offline Process:
- Visit the nearest SBI general insurance branch after choosing a plan.
- You will receive an application form. Fill it with the necessary details.
- The insurer will forward your plan for processing, and you will receive regular updates on its status via email.
- The insurer will then contact you to verify your details.
- Once the verification process is complete, you will receive your policy document to your registered email ID.
If you require any assistance while purchasing your policy, reach out to Cover360, and our expert consultants will be here to help you! Their expertise enables you to choose the plan with the best coverage within your budget, so you and your family remain financially secure at all times!
SBI Mediclaim Policy Claim Process
The SBI claim settlement ratio is 59.42% which shows their diligence when it comes to vetting claims. They have an eye for detail whether you want a cashless or reimbursement claim. What are these claim processes?
Cashless Claims:
- Report the insurer immediately after hospitalisation.
- Apply for a pre-authorisation with the insurer as soon as you are hospitalised.
- After a close analysis of the claim, you and the hospital should receive an authorisation letter, validating the claim.
- The hospital will then settle your medical expenses directly with the hospital.
Reimbursement Claims:
- Intimate the insurer within 48 hours of hospitalisation.
- After treatment, collect all the mandatory documents and submit them to the insurer along with a filled-in reimbursement claim form.
- The insurer will examine the claim and determine its validity.
- You will then receive their decision about claim acceptance in writing.
- If approved, you will receive the amount due to you from the insurer within a stipulated time frame.
You can contact Cover360 at any time to avail our 24/7 customer care services in case you are in doubt about any aspect of the claim procedure.
SBI Health Insurance Renewal Process
- Visit cover360.in and go to our renewal page
- Enter the details asked
- You will be taken to the SBI website to complete the renewal process
- Alternatively, go to the insurer’s website and renew your SBi Health Insurance online.
- Go to the “Renew Cover” tab.
- Click on “Renew Policy” and then “Health Policy”.
- Enter your policy details as required and click on “Renew Now”.
- You will need to reconfirm some details. After this, click on “Let’s Renew”.
- Finish making the premium payment to renew your policy successfully!
Contact us if you have any further questions about your policy, the renewal process or the claim process. Our insurance specialists are available to assist you all day, every day so that you get the financial coverage you deserve and remain financially secure in times of medical crisis!
