SBI Health Insurance

The SBI General Insurance company is a joint venture between the State Bank of India (SBI) and Insurance Australia Group (IAG), which commenced its operations in the year 2010.

The SBI Health Insurance Company offers a wide array of general insurance products such as motor insurance, health insurance, personal accident, travel insurance, and home insurance.

The company also comes with various non-life insurance products like fire insurance, marine insurance, aviation insurance, and liability insurance, etc for the customers in the commercial space.

Let's find out more about the plan:

Key Features Of SBI Health Insurance Company

Choosing an ideal health insurance company is not an easy task when you have 29 companies to choose from. With so much competition in the insurance sector, a customer often gets confused and is not able to do the required research, and chooses the wrong policy.

To help you out from this dilemma, we at PolicyX.com have listed down the important parameters of the company such as cashless hospitals, market share, claim support. This will not only help you to make the right decision but will also give you an insight into the company's performance.

Let's understand all the above features in detail:

1. Market Share

   Market Share of a company helps you analyze the company's growth. In the financial year of 2019-2020, SBI's market share was 742.26 crores

   The graph below shows the Market share of SBI Health Insurance from the 2016-2020 Financial Year.

   Market Share of SBI Health Insurance

   

   ** Data from IRDAI Annual Reports

2. Network Hospitals

   Choosing an Insurance Company that has a wide range of network hospitals in your vicinity helps you to the great extent at the time of a medical emergency. One may ignore the importance of the network hospitals initially, but when the medical emergency knocks at your door, getting the treatment done in the nearest network hospital without worrying about the cash can be a great relief.

   The company offers 6000+ network hospitals where you can avail cashless treatement. The below graph showcases the Comparison of SBI with other Insurers on the Basis of Network Hospitals.

   Comparison of SBI with other Insurers on the Basis of Network Hospitals

   

   If you want to check the Network Hospitals of SBI Health Insurance as per your state/region, you can visit the network hospital Page of PolicyX.com.

   SBI Health Insurance Network Hospital List

3. Claim Support

   Well, another factor to keep in mind while choosing an Insurance company is the claim support as it gives you the idea of how good your insurance company is with settling claims.

   As per the IRDAI Annual Report 2019-2020, SBI has settled 97.84 % of claims within 3 months.

   Claim Support of SBI Health Insurance from 2016-2020

   

   ** Data from IRDAI Annual Reports

   To understand better, refer to the below graph that shows the claim support of the top 10 Health Insurance company for the financial year of 2019-2020

   Claim Support of Top 10 Health Insurance Companies

   

   ** Data from IRDAI Annual Reports

4. Solvency Ratio

   The solvency ratio of the company showcases the ability of a company to meet its financial obligations. At present, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated the companies to maintain a solvency ratio of 1.5, and from 2016, SBI Health Insurance Company very well matches the same.

   Take a look at the below graph that will give you an idea of how SBI Health Insurance has maintained its Solvency Ratio in the past years:

   Solvency Ratio Of SBI Health Insurance

   

   ** Data from IRDAI Annual Reports

5. Pan India Presence

   SBI has established its presence in more than 23000 branches of State Bank Group and over 5500 Regional Rural Banks (RRBs). The company has its presence in 110+ cities pan India with a presence of another 350+ locations through satellite resources.

**Last Updated on July, 2021

Types Of Health Plans Offered By SBI Health

SBI Health comes with 9 health insurance products with different features and benefits. Here is a list of all the plans offered by SBI Health that will help you narrow down your selection.

**Last Updated on July, 2021

Let's take a look at all the SBI health insurance plans:

1. SBI Arogya Premier Policy

   SBI Arogya Premier policy is a health insurance plan that offers wider medical coverage. The plan offers coverage to self, spouse, dependent children, parents, and parents-in-law. With a wide range of benefits, the plan offers a required amount of coverage and ensures that all your healthcare needs are completely looked after.

   Features:

   • Pre and post-hospitalization costs (60 & 90 days) of the insured are covered, which include diagnostic reports, doctor consultation, medications, etc.
   • The company covers 141 daycare procedures that require less than 24 hours of hospitalization.
   • The plan covers the 12 advanced treatment procedures up to 50% of the sum insured.

   Eligibility:

   Minimum age of entry	3 months
   Maximum age of entry	65 years
   Sum Insured	Rs. 10 lakhs to Rs. 30 lakhs
   Policy Term	1, 2, or 3 years

   **Last Updated on July, 2021

2. SBI Arogya Sanjeevani Policy

   Arogya Sanjeevani policy is a comprehensive health insurance plan that provides financial protection in case of any unfortunate event that results in hospitalization.

   Features:

   • Arogya Sanjeevani offers coverage (up to the sum insured) against Ayurveda, Unani, Siddha, and Homeopathy inpatient treatments.
   • Policyholders are eligible to get coverage (25% of Sum Insured or Rs.40000, whichever is lower) for cataract treatment expenses.
   • Nursing, room rent, and boarding expenses are also covered (2% of SI subject to a max of Rs.5000 per day).

   Eligibility:

   Minimum age of entry	For Children: 3 months For Adults: 18 years
   Maximum age of entry	For Children: 25 years For Adults: 65 years
   Sum Insured	Rs. 1 Lakhs to Rs. 5 Lakhs

   **Last Updated on July, 2021

3. SBI Arogya Plus Policy

   SBI Arogya Plus policy supports the policyholders and their families during medical emergencies. The plan offers financial protection from rising medical expenses to meet any healthcare needs.

   Features:

   • Under this plan, no pre-policy medical test is required up to the age of 55 years.
   • The company provides an ambulance facility for emergency cases, and a maximum of Rs.1500 can be claimed during a policy period.
   • Alternative treatment expenses for practices like Ayurveda, Unani, Siddha, and Homeopathy are covered.

   Eligibility:

   Minimum age of entry	3 months
   Maximum age of entry	65 years
   Sum Insured	Rs. 1 lakhs/ 2 lakhs/ 3 lakhs
   Policy Term	1, 2, or 3 years

   **Last Updated on July, 2021

4. SBI Arogya Top Up Policy

   SBI Arogya Top Up policy helps you to get enhanced protection at a low premium. The plan comes into action when your existing health plan is exhausted due to the claims made. Arogya Top-up comes with a wide range of benefits and allows you to cover your spouse, dependent children, parents, and parents-in-law.

   Features:

   • No pre-policy medical test up to the age of 55 years for people with no medical history
   • The ambulance facility (up to Rs. 5000) will be provided in case of emergency hospitalization due to illness/ injury/ accident/ ailment.
   • The plan also offers the option for reinstatement of the sum insured.

   Eligibility:

   Minimum age of entry	3 months
   Maximum age of entry	65 years
   Sum Insured	Rs. 1 lakhs to 50 lakhs
   Policy Term	1, 2, or 3 years

   **Last Updated on July, 2021

5. SBI Retail Health Insurance Policy

   SBI Retail Health Insurance offers medical coverage along with additional benefits at a reasonable premium rate. Your entire family (spouse, dependent children, and parents) can be covered by this policy.

   Features:

   • The plan offers the add-on covers such as Removal of Room & ICU rent sub-limits, and Removal of sub-limits on Operation and Consultancy charges.
   • Policyholders are eligible to get coverage for alternative treatments.
   • For every claim-free year, a policyholder will get a bonus equaling 5% of SI.

   Eligibility:

   Minimum age of entry	18 years
   Maximum age of entry	65 years
   Sum Insured	Rs. 50,000 to Rs. 5 lakhs
   Policy Term	1 Year

   **Last Updated on July, 2021

6. SBI Critical Illness Insurance Policy

   SBI Critical Illness Insurance offers coverage against 13 critical illnesses. The plan offers financial support irrespective of the actual medical expenses and enables you to fully concentrate on your treatment without worrying about your finances.

   Features:

   Following 13 illnesses are covered under this plan:

   • Cancer of Specified Severity
   • Open Chest CABG
   • Aorta Graft Surgery
   • Open Heart Replacement or Repair of Heart Valves
   • Stroke Resulting in Permanent Symptoms
   • First Heart Attack of Specified Severity
   • Kidney Failure Requiring Regular Dialysis
   • Primary Pulmonary Arterial Hypertension
   • Major Organ/ Bone Marrow Transplant
   • Multiple Sclerosis with Persisting Symptoms
   • Coma of Specified Severity
   • Total Blindness
   • Permanent Paralysis of Limbs
   • Policyholders can also avail of tax benefits under Section 80D of the Income Tax Act, 1961.
   • The policy offers a grace period of 30 days.
     

   Eligibility:

   Minimum age of entry	18 years
   Maximum age of entry	65 years
   Sum Insured	Rs. 2 lakhs to Rs. 50 lakhs
   Policy Term	1 and 3 years

   **Last Updated on July, 2021

7. SBI Hospital Daily Cash Insurance Policy

   SBI Hospital Daily Cash provides a fixed amount to the claimant for each day of hospitalization and takes care of other miscellaneous expenses like traveling, food, etc., and lessens the burden of family members during your hospitalization.

   Features:

   • The insured will receive 3 times the daily cash limit, or Rs. 5,000 (whichever is less) if the hospitalization exceeds a continuous limit of 10 consecutive days.
   • The plan also covers ICU hospitalization expenses up to twice the daily benefit.
   • The plan offers 4 daily cash benefit amounts to choose from- Rs.500, Rs.1000, Rs.1500, and Rs.2000.

   Eligibility:

   Minimum age of entry	18 years
   Maximum age of entry	65 years

   **Last Updated on July, 2021

8. SBI Loan Insurance Policy

   In case you are a victim of any of the listed 13 critical illnesses/accidental death/unemployment and you have a loan to repay, SBI Loan Insurance Policy will offer its support to you and your family.
   

   Features:

   • The insured will receive an outstanding loan amount or sum insured based on the option chosen in the event of accidental death or permanent total disability.
   • If a person becomes temporarily unemployed or retrenchment or dismissal during the policy term, a maximum of 3 EMIs will be paid in favor of the loan amount taken.
   • This plan offers two sum insured options i.e. Fixed and Reducing.

   Eligibility:

   Minimum age of entry	18 years
   Maximum age of entry	65 years
   Maximum Policy Tenure	3 years

   **Last Updated on July, 2021

9. SBI Group Health Insurance

   SBI Group Health Insurance is an ideal insurance policy for both individuals and families. The plan offers financial support against your medical expenses and ensures that you get the best possible healthcare treatments for a speedy recovery. No pre-policy medical test is required for people (with no medical history) up to the age of 65 years.
   

   Features:

   • The plan covers pre and post-hospitalisation expenses for 30 days and 60 days respectively.
   • The plan offers coverage (Rs.20000 or 20% of SI, whichever is lower) for domiciliary hospitalisation.
   • Medical practitioner and specialist fees are also covered by this policy.

   Eligibility:

   Minimum age of entry	18 years
   Maximum age of entry	65 years
   Sum Insured	Rs. 1 Lakhs to Rs. 5 Lakhs

   **Last Updated on July, 2021

How Can You Buy SBI Health Insurance?

• Visit the official website of SBI General Insurance. Click on the 'Buy' option under 'Health Tab'.
• Fill the form with the details and click on 'Go'.
• On the next page, fill in your contact number and email address.
• Once done, you will be redirected to a page with a short questionnaire. Answer all the questions and click on 'Continue'.
• The page will then show you the most-suited plan along with the premium amount.
• Make an online payment. Your policy document will be mailed to you at your registered email address.

Note: You can also purchase health insurance by visiting the nearest SBI General branch.

If for any reason you are unable to buy health insurance from the company, PolicyX.com is there to assist you.

You can also buy SBI Health Insurance online via PolicyX.com by following the below-mentioned steps:

• Fill the form "Calculate SBI Health Insurance Premium Now" available at the top of this page.
• Once done, click on the Continue tab, and on the next page, your premiums will be displayed.
• Choose any additional rider if you want to, and make the payment online.
• Once the payment is received by the company, they will send you your policy details.

What is the Claim Process for SBI Health Insurance Plans?

There is a direct process to file SBI health insurance claims. Let's take a look at it.

• Inform the company about the claim by dialing the toll-free number (1800 22 1111) or SMS 'CLAIM' to 561612.
• The SBI customer representative will reach out to you with details of the required documents and further steps.
• The SBI claims representative will connect with you within 24 hours of filing the claim.
• Submit all the required documents.
• The company will initiate the process and settle all relevant claims within 30 days of the final survey report.

Required documents for SBI health insurance claim

Following documents are needed to file a claim under SBI health insurance:

• Duly signed and filled claim form
• KYC form
• Copy of SBI health insurance policy
• Original Hospital discharge summary
• Prescription and doctor consultation letter
• Bills/receipts/medical reports
• Photo ID documents (PAN Card/Aadhar card)
• Address proof
• Attested death certificate/post-mortem report (in case of accidental death)
• Investigation Report copy (accidental cases)

What Is The Renewal Process of SBI Health Insurance?

You can directly renew your policy by following the below stated steps:-

• Go to the official website of the SBI General and click on 'Renew' under the 'Health' tab.
• Enter the required details and click 'Go'.
• The next page will show the summary details of your policy. Check it and make the payment.
• Your policy will be renewed and its notification will be sent to your registered mobile number and email id.

Contact Details of SBI General Insurance

Contact Number: 1800 102 1111

Email Address: customer[dot]care[at]sbigeneral[dot]in