SBI Health Insurance

SBI Health Insurance

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SBI Health Insurance Company

SBI General Insurance Company or SBI GIC is a combined collaboration company between Indian public sector banking giant State Bank of India and Australia’s leading insurance group, Insurance Australia Group (IAG). SBI holds 76% in the joint venture general insurance company and IAG holds 24 % stake in the same.

This is a timely partnership between two strong partners. SBI is India’s largest public sector bank with established country wide networks and IAG is a global risk management player having operations in Australia, New Zealand, United Kingdom and Asia .The overseas partner group has made several insurance products available under different brands and its premium collection is over $10.99 billion per year.

Tie up with a global insurance leader enables the SBI GIC group to provide worldwide insurance coverage to its policy holders. And broad and deep market coverage of SBI group in India enables bringing world class insurance products at the doorsteps of consumers.

SBI GIC Achievements

SBI GIC has been in operation for about six years now and in this time span it has established itself as a profitable company with strong customer base spread out all over India. At present the general insurance company has presence in more than 77 cities of India and 17, 273 SBI branches all over India. SBI GIC has also made its insurance products available through associate banks and agents and more than 14175 IRDA certified employees and 6320 agents are serving in the entire distribution network of SBI GIC.

In a span of six years of its establishment SBI GIC has traversed a long journey into the insurance sector and has established itself as a widespread total insurance solutions company which is successfully catering to the individual, family, business and rural insurance needs.

As per the latest IRDA data the company’s incurred claim ratio is a healthy 85%. Incurred claim ratio is the ratio between claim amount paid and premiums collected over a certain time period. A ratio of 85 % shows high commitment towards settling insurance claims as well as high ability to sell insurance products and collect timely premiums.

SBI GIC has been recognized and awarded several times by prestigious groups like Indian Insurance Awards Group for its performance excellence in the insurance sector. The insurance company has received accolades for reaching out to the underserved market segments of the country and for making its products widely available without compromising on quality and services.

In 2015-16 SBI GIC registered maximum growth of 63% in the insurance sector in terms of growth in average premium collection. For the year ending March 31, 2017 its total net premium earned from all its insurance products sales was INR 14.76 billion, a growth of almost 23 % over previous year.

SBI GIC is an ISO 27001 certified insurance group and its services are backed by innovative technology and digital infrastructure.

SBI Health Insurance Policy

SBI GIC offers a complete spectrum of insurance products among which SBI Health Insurance is a total health insurance solution covering a broad and deep range of insurance needs.

At any time in their lives individuals can succumb to health related risks, not being adequately covered during such times hinders with the recuperation process and may become a lifelong cause of suffering. Besides health cover, health insurance also confers tax exemption benefits as premium payments are deducted from the taxable income base as per section 80 D of The IT Act and thereby tax burden of taxpaying individuals is considerably reduced. Money not used for buying health cover is taxed, so it is advisable to purchase adequate health insurance and avail tax exemptions and pay the whole or a large part of health insurance premiums with the saved tax amount.

With SBI health insurance one can avail cashless emergency and planned treatments for conditions covered by the health policy in any of the 3000 networked hospitals of SBI GIC. Treatments undergone in hospitals other than networked hospitals can be claimed by reimbursement process upon submission of all related bills and documents.

SBI offers health insurance for individual and family segments as well as corporate and industrial group segment. Corporate owners often need to opt for group health policies for travelling and rooted staff; with SBI GIC health insurance they can procure reliable umbrella policies.

All SBI policy holders are provided health insurance policy kit which includes the policy member cards with the policy numbers and member identification numbers mentioned upon them. Besides the card the policy kit also contains policy document mentioning the policy terms and conditions, inclusions/exclusions, list of service providers, details of networked hospitals, emergency toll free numbers and other details.

SBI GIC health insurance offers 15 days cooling period during which the policy can be read properly in detail by subscriber and if subscriber is not satisfied then policy document can be returned within the cooling period whereupon the policy is deemed cancelled.

The health policy covers have basic as well as additional cover options. Insured can make their health insurance plans more comprehensive by opting for the additional options or top up cover options available under SBI health insurance product range.

Besides offering cover for basic medical emergency conditions and hospital expenses, SBI health insurance also offers cover against critical illnesses, pre and post hospitalization expenses, ambulance expenses, additional hospitalization expenses, daily cash expenses and several other benefits including no claim year and continuous renewal benefits.

Features & Benefits of SBI General Health Insurance

  1. Good coverage options - SBI is offering attractive options. An intrstng buyer can select a sum insured amount as per his personal requirements and financial limitations without any hassles.
  2. Flexible and comprehensive plans - The best thing about SBI General Health Insurance is that it provides a wide range of plan options that give policyholders the flexibility to make choices according to personal preferences and other factors such as the the city they live in, etc.
  3. Wide range of add-ons - SBI offers a wide range range of cover options. Some of the riders are ICU charges, consultancy charges, ambulance fee, operation theatre fee, etc.
  4. 24/7 customer support - An helpful team for customer service that works on a 24/7 basis to resolve issues, clear doubts, answer claim queries and other issues related to insurance.
  5. Free- medical check-up - Policyholders will be liable to get free health check-up upon the completion of at least 4 claim-free years.
  6. Easy online purchase and renewal - You can make purchases and renewals online without any hassles just by following a few simple steps.

SBI Health Insurance Plans

1. Health Insurance SBI

This is a comprehensive health insurance policy that has a wide scope of coverage.

Features of Health Insurance SBI

  1. Tax exemption applicable
  2. Policyholders can avail cashless network services from the 3,000 odd empanelled network hospitals across the country
  3. Coverage is also provided to certain specified pre-existing diseases after a waiting period of 1 year
  4. The policy also covers ambulance charges, domiciliary hospitalization, day care expenses, ICU charges, specialist fees and other hospitalization expenses as mandated in the policy document

Plan Details

Entry Age 3 months to 65 years
Plan Basis Individual and Family
Sum Insured Range Min:Rs.1 lakh Max:Rs.5 lakh
Medical Screening Only for those above 65 years
Co-Payment 10%
Waiting Period 1 year
2. Arogya Premier

Specifically designed for high net-worth individuals, this policy offers good coverage and comes with a good set of benefits and add-ons.

Features of Arogya Premier Policy

  1. This policy offers the benefit of air ambulance services that can be availed up to a maximum of Rs.1 lakh
  2. Coverage is offered to daycare expenses, organ donor expenses and other treatments such as Homeopathy, Siddha, Unani and Ayurveda
  3. Expenses related to maternity will be taken care of under the policy after completion of a waiting period of 9 months
  4. Pre and post-hospitalization expenses will be provided
  5. Tax benefit applicable
  6. Operation related expenses

Plan Details

Policy Term 1,2 and 3 years
Entry Age From 3 months to 65 years
Plan Basis Individual and Family
Sum Insured Range Min:Rs.10 lakh Max:Rs.30 lakh
Premium Payable in advance
Medical Screening Only for those above 55 years
No Claim Bonus 10%
Discounts Cumulative bonus
3. Arogya Plus plan

The Arogya Plus plan is an enhanced health insurance option that provides multiple coverage options.

Features of Arogya Plus Policy

  1. OPD related expenses will be taken care of as mandated in the policy terms and conditions
  2. Tax benefit can be availed under section 80D
  3. Maternity benefit offered
  4. Daycare, pre and post-hospitalization expenses covered
  5. Other benefits include cover for nursing expenses, ICU, diagnosis, operation and hospitalization related expenses

Plan Details

Policy Term 1,2 and 3 years
Entry Age From 3 months to 65 years
Plan Basis Individual and Family
Sum Insured Range Min:Rs.1 lakh Max:Rs.3 lakh
Premium Rs.8,900 per annum for Rs.1 lakh sum insured, Rs.13,350 per annum for Rs.2 lakh sum insured, Rs.17,800 per annum for Rs.3 lakh sum insured
Medical Screening Only necessary for those above 55 years
4. Arogya Topup

Features of Arogya Topup

  1. AYUSH related expenses will be covered
  2. Tax exemption can be claimed
  3. Organ expenses, pre and post-hospitalization cost and other fees related to surgeons, maternity, ambulance services and day care expenses
  4. Hospitalization expenses such as room rent, blood and oxygen, etc
5. Critical Illness

The SBI Critical Illness plan is specially designed to cover certain specified serious illnesses. This is an individual policy.

Unique Features of Critical Illness plan

  1. This policy provides coverage against 13 serious illnesses such as paralysis, blindness, coma, first heart attack, stroke, heart valve surgery, aorta graft surgery, coronary artery bypass grafts, major organ transplant, multiple, primary pulmonary arterial hypertension, kidney failure, cancer
  2. Tax exemption can be claimed

Plan Details

Policy Term 1 and 3 years
Entry Age Upto 65 years only
Plan Basis Individual
Sum Insured Range Up to Rs.5 lakh
6. Hospital Daily Cash

This policy is specifically designed to take care of the day-to-day expenses at the time of hospitalization.

Features of Hospital Daily Cash

  1. During the time of hospitalization, a daily cash benefit of Rs.2,000 will be provided
  2. ICU allowance of Rs.4,000 will be provided on a daily basis
  3. Accidental hospitalization allowance of Rs.4,000 will be given on a daily basis and convalescence expenses of Rs.5,000 per day will be given

Plan Details

Policy Term Individuals: 1,2 and 3 years Family: 1 year
Entry Age 18 to 65 years
7. SBI Loan Insurance

It puts you in control, relieves you of the stress and helps you truly enjoy the home you have just acquired.

Features of SBI Loan Insurance

  1. Covers risk of loan non payability
  2. Cover for important loans like home loans
  3. Cover against critical illnesses
  4. Fixed or reducing basis sum assured
Medical Checkup No, upto sum Insured of Rs.1 Crore and/or age up to 55 years
Coverage 13 critical illnesses, accidental death or permanent disablement and loss of job

SBI GIC Online Digital Platform

SBI health insurance products are available in all the distribution networks of SBI GIC as well as through online mode. The SBI GIC provides a robust and transparent online platform for people who seek reliable insurance and health insurance products.

For a minimal premium amount it is possible to seek adequate health insurance cover for self and family members. Premiums can be calculated online by specifying the cover amount sought the number of members, age of members, the policy tenure and other basic relevant details. Online SBI GI facilities also include online policy renewal and claims registration process.

Others plans of SBI Insurance Company

Travel Insurance

Personal accident insurance

Home insurance

Motor Insurance

Checklist before Buying SBI General Health Insurance

Before making any purchase, it is important analysis personal and family needs and then choose a plan accordingly

Look for all the important factors such as premium range, sum insured amount, policy tenure and compare all benefits of available plans

Keep all documents ready

Documents Required for Purchasing SBI General Health Insurance

  1. ID proof and residential proof
  2. Medical certificate, if required

Why choose SBI General Health Insurance

Hassle-free claim settlement

Online transaction

Good coverage

Added benefits

Comprehensive plans

Claim Settlement Ratio of SBI Health Insurance

Calim settlement ratio basically refers to percentage of claims which are successfully solved by the insurance company in a given financial year.

Year Incurred Claim Ratio
2016-17 53.43%

Additional Benefits

Portability SBI provides the option to port the policy from any one insurance company to SBI without any hassles
Complaint redressal Any complaints can be lodged online, through their toll-free number or through email with the help of their Grievance Redressal option

SBI General Health Insurance Renewal

Visit SBI General Insurance and select the ‘Renew’ option to complete the renewal process online. You have to follow a few simple steps and make payment online.

Ontime renewal of health insurance policies is very important to protect yourself from any future emergencies. You can also set reminders for your SBI General health insurance renewal dates so that you never forget the renewal date. SBI General health insurance online renewal is very easy, smooth, quick and user-friendly. With the help of a few clicks, you can renew your SBI General medical insurance plan. To complete the SBI General health insurance online renewal, you need to follow the below mentioned steps.

Firslty, you have to log into the online portal of the Company.

  1. Then choose ‘Renew Your Policy’ tab and enter which health insurance policy you want to renew to initiate your SBI General health insurance renewal process.
  2. Select the ‘Renew’ tab for instant SBI health insurance online renewal.
  3. After that, you have to pay the premium digitally for the successful completion of your SBI General health insurance renewal.
  4. At the end, you will receive an authentication mail in your registered mail id. You can download and save your SBI General health insurance online renewal for your future use.

SBI General Health Insurance Network Hospitals for Cashless Treatment

SBI General Health Insurance has a wide network of 3,000 cashless hospitals through which customers can avail cashless facility and quality services as well. To locate the nearest network hospital, log on to the SBI General Insurance website and click on the ‘Hospital Network’ option.

Claim Procedure in SBI General Health Insurance

Cashless claim procedure:

  1. Take the approval from the insurance company and contact the TPA
  2. The health insurance card should be with you at the time of hospitalization
  3. The insurance company will clear the bills with the network hospital

Reimbursement claim procedure:

  1. Fill out the duly signed claim form
  2. Bills, invoices and discharge summary should be submitted along with the claim form
  3. Reimbursements will be made in 7 working days

Terms and Conditions of the Insurer

  1. The insured should make sure that all the details at the time of purchase of the policy is accurate. In case of any misrepresentation of facts, the company will be liable to cancel the policy at any point of time
  2. Reimbursement claims will not be processed by the insurance company unless there is a documentary evidence in terms of bills, invoices or discharge summary

FAQs

1. That's medical health insurance?

The health insurance is a form of coverage that covers your medical emergencies expenses. A medical insurance coverage is a contract among an insurer and an man or woman /organization in which the insurer concurs to provide distinctive medical insurance cover at a specific “premium”.

2. What are the forms of health insurance available?

The most common form of medical insurance in India cover the costs incurred on Hospitalization, though a selection of products are actually there which provide more than a few health covers, relying at the want and desire of the insured. The health insurer commonly offers either direct price to health facility (cashless facility) or reimburses the prices related to ailments and accidents or disburses a hard and fast advantage on occurrence of an infection. The sort and amount of healthcare prices with the intention to be included through the health plan are particular in advance.

3. What's cashless facility?

Insurance businesses have tie-up arrangements with several hospitals all over the usa as part of their community. Beneath a medical insurance coverage supplying cashless facility, a policyholder can take treatment in any of the network hospitals without having to pay the hospital bills because the payment is made to the medical institution without delay via the third birthday party Administrator, on behalf of the insurance enterprise. but, charges past the bounds or sub-limits allowed by the insurance or charges no longer covered under the coverage must be settled by means of you at once with the hospital. Cashless facility, however, isn't available in case you take treatment in a clinic that isn't inside the community.

4. What are the elements that have an effect on health insurance premium?

Age is a chief aspect that determines the premium, the older you are the premium fee could be better due to the fact you're more susceptible to illnesses. preceding scientific records is any other principal issue that determines the premium. If no prior scientific history exists, premium will mechanically decrease. claim free years can also be a factor in figuring out the price of the premium as it'd gain you with positive percent of bargain. This could robotically help you reduce your premium.

5. What's pre-exisiting medical condition in medical health insurance coverage?

It is a medical condition/ailment that existed earlier than you received medical insurance policy, and it's miles massive, because the insurance companies do no longer cover such pre-existing situations, inside forty eight months of previous to the first policy. It means, pre-current conditions can be considered for fee after of completion of 48 months of non-stop insurance cover.

6. If my coverage isn't always renewed in time earlier than expiry date, will I be denied for renewal?

The policy may be renewable furnished you pay the premium in 15 days (called as Grace period) of expiry date. but, insurance might not be to be had for the length for which no premium is obtained by way of the coverage company. The policy will lapse if the premium isn't paid inside the grace period.

SBI Health Insurance News

Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA

November 13, 2017

On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.

 “The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017,” the IRDA said.

In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.

In a discussion with all life and general insurance companies, IRDA said the rules have “statutory force” and they have to implement the rule without waiting for the further instructions.

Right now, there are 24 life insurers and 33 general insurance companies operating in the country.

Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one’s Aadhaar number with the mobile number latest by February 6, 2018.

November 30, -0001

November 30, -0001

Customer Reviews

Write A Review

Pallave, Guntur
- Reviewed On 15-05-2018
"Nice Work and Costomer Support"

The customer support service and the response is good from the SBI.

Anup, Saharanpur
- Reviewed On 14-05-2018
"Good Policy"

I hold a health insurance policy with SBI General Insurance from last 6 years.

Raj, Bhiwandi
- Reviewed On 13-04-2018
"Decent insurer"

I took my SBI Arogya Premier Policy in SBI General Insurance for last 4 years. As of now I don't have any claim experience. The premium was decent and good compared to others

1

Aggregate Rating for SBI General Insurance Insurance   [ 3  ]

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