SBI Loan Insurance Policy
  • Loan repayment benefits
  • Plan details
  • Inclusions and exclusions
SBI Loan Insurance Policy
Network hospitals

Network hospitals

6000+

Incurred claim ratio

Incurred claim ratio

73.92%

Sum insured

Sum insured

Up to 2 Cr

No. of Plans

No. of Plans

1

Solvency Ratio

Solvency Ratio

1.8

Pan India Presence

Pan India Presence

141+

Customized Health Insurance Plan for you.

Get upto 15% Online Discount*

Select Members You Want To Insure

Age of Eldest Member

SBI Loan Insurance Policy

SBI Loan Insurance policy offers comprehensive coverage to the policyholder and helps them to repay their loan in case of medical emergencies arising due to critical illnesses or accidents, that lead to loss of job or death.

The plan proves to be useful in meeting the primary cause affecting loan repayment and relieves the policyholder from the stress of debt dealing. Read along to explore more about the plan.

SBI Health Insurance Detailed Review

SBI Loan Insurance Policy

SBI Loan Insurance Policy Specifications

To understand SBI Loan Insurance Policy Insurance in detail, take a look at the below table:

Entry Age

18 years to 65 years

Policy Type

Individual

Sum Insured

1 Crore

Initial Waiting Period*

90 Days

Renewability

NA

Policy Term

1/2/3 Years

*Initial Waiting Period is the time period between the issuance of the policy and the time it starts actively. During this period, a policyholder has to wait to avail of the benefits offered under a health insurance plan.

Read more specifications in the brochure.

SBI Loan Insurance Plan Coverage

Before buying SBI Personal Loan Protection Insurance, you should have an understanding of what you will get under the plan. With comprehensive coverage, you can ensure that your family doesn't have to worry about your outstanding loans in your absence.

Take a look below to explore the coverage offered by the SBI Loan Insurance plan:

Critical Illnesses

The plan covers 13 critical illnesses and pays the Outstanding Loan Amount or Sum Insured based on the option chosen by the policyholder. The critical illnesses covered are

A. The first diagnosis of the below-mentioned Illnesses is more specifically described below:

  • Cancer of Specified Severity
  • Kidney Failure Requiring Regular Dialysis
  • Primary Pulmonary Arterial Hypertension
  • Multiple Sclerosis With Persisting Symptoms

B. Undergoing for the first time the following surgical procedures, more specifically described below:

  • Major Organ/ Bone Marrow Transplant
  • Open Chest CABG
  • Aorta Graft Surgery
  • Open Heart Replacement or Repair of Heart Valves

C. Occurrence for the first time of the following medical events more specifically described below:

  • Stroke Resulting in Permanent Symptoms
  • First Heart Attack of Specified Severity
  • Coma of Specified Severity
  • Total blindness
  • Permanent Paralysis of Limbs

Exclusions:

  • Any pre-existing illness.
  • Any critical illness discovered within 90 days of the policy.
  • Self-medication or unauthorized treatment.
  • Congenital illness or defects and/or treatment administered for them.
  • Hormone Replacement Therapy; contraceptive procedures.
  • Gender change or cosmetic surgery or treatment/procedures associated with the same.

Personal Accident

The plan pays out the outstanding loan amount or sum insured based on the option chosen by the policyholder in case of the death or permanent total disablement that occurred due to an accident.

Exclusions:

  • Payment under more than one category specified i.e death or permanent total displacement.
  • Any infirmity/conditions existing before the inception of the policy.
  • Persons learning to operate an aircraft or operating as a crew or participating in adventure sports including winter sports, hazardous activities, and the like.
  • Death or permanent total disability arising out of illness.
  • Venereal diseases or insanity.

Loss Of Job

The plan pays out a maximum of 3 EMIs in the unfortunate event of temporary unemployment dismissal or retrenchment.

Exclusions:

  • Termination, dismissal, temporary suspension, or retrenchment due to fraud dishonesty, or poor performance.
  • Businessmen; self-employed persons.
  • Employees on a casual, temporary or contractual basis.
  • Unemployment due to resignation, retirement whether voluntary or otherwise.
  • Unemployment at inception or arising within the first 90 days of Inception.

SBI Health Insurance Network Hospital List

SBI Health Insurance Network Hospitals are present in 31 states nationwide. With a wide network of hospitals, SBI Health Insurance ensures that you are medically secured, irrespective of the city you reside in.

SBI Loan Insurance Plan Exclusions

War, invasion; acts of terrorism, riot, malicious damage or such similar perils.

Nuclear perils; ionizing radiations

Drug abuse or alcoholism.

Self-inflicted injury attempted suicide or suicide.

HIV/AIDS

Consequential loss or indirect expenses of animal bite.

Explore other SBI Health Insurance

To cater to the different medical needs of an individual & their family, SBI Health Insurance offers several Health Plans ranging from senior citizen plans to specialized plans for autistic children, to health insurance for cardiac patients, and many more.Take a look below to SBI Health Insurance plans explore more:

Individual

Would you believe if we say that the SBI Divyanga Suraksha health insurance plan provides healthcare for people with disability or any pre-existing HI...

Unique Features

  • Covers in-patient treatment
  • HIV/AIDS cover
  • Power against disability

SBI Divyanga Suraksha Policy (Pros)

SBI Divyanga Suraksha Policy
  • Pre and post-hospitalization
  • Medical treatment
  • Daycare procedures
  • Cataract cover

SBI Divyanga Suraksha Policy (Cons)

SBI Divyanga Suraksha Policy
  • Domiciliary hospitalization
  • Vaccination
  • Health check-ups
  • Global coverage

SBI Divyanga Suraksha Policy (Other Benefits)

SBI Divyanga Suraksha Policy
  • Modern treatment cover
  • In-patient treatment
  • AYUSH care
  • PEDs cover

SBI Divyanga Suraksha Policy (Eligibility Criteria)

SBI Divyanga Suraksha Policy
  • Entry age: 18 o 65 years
  • SI: 4 & 5 Lakhs
  • Initial Waiting Period: 30 days

Individual and Family Health Insurance

SBI Arogya Premier Policy is a comprehensive health insurance plan that is designed to protect you and your family from uncertain medical expenses. Th...

Unique Features

  • Plan Specifications
  • Eligibility
  • Inclusions and Exclusions

Arogya Premier Policy (Pros)

Arogya Premier Policy
  • In-patient hospitalization expenses
  • Pre and post-hospitalization
  • AYUSH treatments
  • Maternity expenses

Arogya Premier Policy (Cons)

Arogya Premier Policy
  • Daily hospital cash cover
  • Newborn baby cover
  • Global coverage
  • Compassionate visit unavailable

Arogya Premier Policy (Other Benefits)

Arogya Premier Policy
  • Mental illness cover
  • HIV/AIDS cover
  • Internal congenital diseases
  • Genetic disorders

Arogya Premier Policy (Eligibility Criteria)

Arogya Premier Policy
  • Entry Age: 3 Months to 65 Year
  • Sum Insured: 10 to 30 Lakhs
  • Initial Waiting Period: 30 days

Individual and Family Health Insurance

SBI Arogya Plus policy is a fixed premium plan that offers financial protection to you and your family during a medical emergency. The plan provides c...

Unique Features

  • What is Arogya Plus?
  • Know the Eligibility Criteria
  • Premiums Sample Illustration

Arogya Plus Policy (Pros)

Arogya Plus Policy
  • OPD cover
  • In-patient hospitalization
  • Pre & post hospitalization

Arogya Plus Policy (Cons)

Arogya Plus Policy
  • Newborn baby cover
  • Vaccination
  • Compassionate travel
  • Organ donor cover unavailable

Arogya Plus Policy (Other Benefits)

Arogya Plus Policy
  • AYUSH treatment
  • Domiciliary hospitalization
  • HIV/AIDS cover
  • Mental illness cover

Arogya Plus Policy (Eligibility Criteria)

Arogya Plus Policy
  • Entry Age: 3 Months to 65 Years
  • Sum Insured: 1/2/3 L
  • Policy term: 1/2/3 years
  • Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Arogya Top-up Policy is a health insurance top-up policy that is designed to provide additional coverage to policyholders when their standard heal...

Unique Features

  • Enhanced coverage
  • Eligibility criteria
  • Key features

SBI Arogya Top-Up Policy (Pros)

SBI Arogya Top-Up Policy
  • In-patient hospitalisation
  • Pre & post hospitalisation
  • Ambulance cover

SBI Arogya Top-Up Policy (Cons)

SBI Arogya Top-Up Policy
  • Global coverage
  • Air ambulance
  • Compassionate visit
  • OPD cover unavailable

SBI Arogya Top-Up Policy (Other Benefits)

SBI Arogya Top-Up Policy
  • Organ donor expenses
  • Domiciliary treatment
  • Modern treatment

SBI Arogya Top-Up Policy (Eligibility Criteria)

SBI Arogya Top-Up Policy
  • Entry age: 3 months to 65 years
  • SI: 1 to 50 Lakhs
  • Policy term: 1/2/3 years
  • Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Arogya Sanjeevani Policy is a standard health insurance policy that comes with an affordable premium and offers a bucket full of benefits to its p...

Unique Features

  • Affordable Health Plan
  • Eligibility Criteria
  • Inclusions and Exclusions

SBI Arogya Sanjeevani Policy (Pros)

SBI Arogya Sanjeevani Policy
  • In-patient hospitalization
  • Pre and post-hospitalization care
  • ICU expenses
  • Daycare treatment
  • Up to 12 advanced treatments

SBI Arogya Sanjeevani Policy (Cons)

SBI Arogya Sanjeevani Policy
  • Modern treatment unavailable
  • OPD not covered
  • Domiciliary hospitalization unavailable

SBI Arogya Sanjeevani Policy (Other Benefits)

SBI Arogya Sanjeevani Policy
  • Deep Brain Stimulation
  • Balloon Sinuplasty
  • Oral Chemotherapy
  • Intra Vitreal Injections

SBI Arogya Sanjeevani Policy (Eligibility Criteria)

SBI Arogya Sanjeevani Policy
  • Entry Age: 18 to 65 Years
  • SI: 50K to 1 Lakhs
  • Initial waiting period: 30 days

Critical Illness Health Insurance

SBI Critical Illness Insurance Policy offers you financial protection from 13 important critical illnesses, this policy offers a fixed sum, irrespect...

Unique Features

  • Coverage for Cancer
  • Eligibility Criteria
  • Inclusions and Exclusions

SBI Critical Illness Policy (Pros)

SBI Critical Illness Policy
  • 13 critical illnesses
  • COVID- 19 covered
  • Air ambulance services

SBI Critical Illness Policy (Cons)

SBI Critical Illness Policy
  • Maternity cover
  • OPD and daycare unavailable
  • Global cover unavailable

SBI Critical Illness Policy (Other Benefits)

SBI Critical Illness Policy
  • Emergency medical cover
  • No Maximum age limit
  • SI up to 10 L

SBI Critical Illness Policy (Eligibility Criteria)

SBI Critical Illness Policy
  • Entry age: 5 years to No limit
  • SI: 3 to 10 Lakhs
  • Initial waiting period: 90 days

Individual

SBI Loan Insurance policy offers comprehensive coverage to the policyholder and helps them to repay their loan in case of medical emergencies arising ...

Unique Features

  • Loan repayment benefits
  • Plan details
  • Inclusions and exclusions

SBI Loan Insurance Policy (Pros)

SBI Loan Insurance Policy
  • Pays out max 3 EMIs
  • Pays outstanding loan
  • PTD benefits

SBI Loan Insurance Policy (Cons)

SBI Loan Insurance Policy
  • Drug abuse or alcoholism
  • HIV/AIDS
  • Self-inflicted injury

SBI Loan Insurance Policy (Other Benefits)

SBI Loan Insurance Policy
  • Accidental cover
  • Critical illnesses cover
  • Loss of job cover

SBI Loan Insurance Policy (Eligibility Criteria)

SBI Loan Insurance Policy
  • Entry Age: 18 to 65 years
  • SI: 1 Crore
  • Initial waiting period: 90 days

Individual and Family Health Insurance

SBI Arogya Supreme health plan is a diverse health insurance plan that provides a solution for all your healthcare needs. It covers 20 basic covers an...

Unique Features

  • Complete protection
  • Choose SI
  • Choose policy tenure

SBI Arogya Supreme Policy (Pros)

SBI Arogya Supreme Policy
  • Domestic Air Ambulance Cover
  • Compassionate Benefit
  • Recovery Benefit

SBI Arogya Supreme Policy (Cons)

SBI Arogya Supreme Policy
  • Automatic restoration
  • Maternity cover unavailable
  • Newborn baby cover
  • 2nd medical opinion not covered

SBI Arogya Supreme Policy (Other Benefits)

SBI Arogya Supreme Policy
  • E-Opinion Cover
  • Preventive Health Check-up
  • Renewal Benefit

SBI Arogya Supreme Policy (Eligibility Criteria)

SBI Arogya Supreme Policy
  • Entry age: 18 to 65 years
  • Sum Insured 3 L | 5 L | 7.5 L | 10 L | 15 L | 30 L | 40 L | 50 L | 1 Cr
  • Policy Term 1/2/3 Years
  • Initial Waiting Period 30 Days

Group Health Insurance

SBI Group Health Insurance is a comprehensive plan, as it provides wider coverage to its customers as well as their family members. Group health insur...

Unique Features

  • High Sum Insured
  • Easy Policy Renewal
  • 10% copayment

SBI Group Health Insurance (Pros)

SBI Group Health Insurance
  • In-patient hospitalization
  • Daycare treatments
  • Co-payment clause

SBI Group Health Insurance (Cons)

SBI Group Health Insurance
  • Room rent unavailable
  • OPD not covered
  • Organ donor expenses
  • Modern treatment unavailable

SBI Group Health Insurance (Other Benefits)

SBI Group Health Insurance
  • Ambulance expenses
  • Pre & post-hospitalisation
  • Policy renewal benefits

SBI Group Health Insurance (Eligibility Criteria)

SBI Group Health Insurance
  • Entry age: 18 to 65 years
  • Sum insured: 1 to 5 Lakhs
  • Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Health Edge is a newly introduced health insurance plan from SBI Health Insurance which is customizable and is available to insurance holders base...

Unique Features

  • Avail Global Treatment
  • Multiple Discounts
  • 18 Optional Covers

SBI Health Edge Policy (Pros)

SBI Health Edge Policy
  • In-patient hospitalization
  • Pre and Post-hospitalization
  • Daycare treatments
  • Emergency ambulance cover

SBI Health Edge Policy (Cons)

SBI Health Edge Policy
  • Organ donor
  • Compassionate visit
  • Domiciliary hospitalization

SBI Health Edge Policy (Other Benefits)

SBI Health Edge Policy
  • Bariatric Surgery Cover
  • Modern Treatments
  • AYUSH Treatments
  • Health Check-ups

SBI Health Edge Policy (Eligibility Criteria)

SBI Health Edge Policy
  • Entry Age: 18 to 65 Years
  • SI: 3 to 25 Lakhs
  • Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Super Health Plan is SBI Health Insurance's new comprehensive health insurance plan. The plan is an umbrella health plan that provides all-inclusi...

Unique Features

  • Unlimited Re-insure Benefit
  • Wellness Benefits
  • Annual Health Check-ups

Super Health Policy (Pros)

Super Health Policy
  • Tax benefit
  • Reinsure benefit
  • Health multiplier
  • Optional covers

Super Health Policy (Cons)

Super Health Policy
  • Cosmetic treatment
  • Injury due to illegal activities
  • Unlawful activities
  • Adventure sports injuries

Super Health Policy (Other Benefits)

Super Health Policy
  • OPD expenses
  • International treatment
  • SI up to 2 Crores
  • Flexible premium payments

Super Health Policy (Eligibility Criteria)

Super Health Policy
  • Min entry age: 18 Years
  • Max entry age: 65 Years
  • Initial Waiting Period: 30 Days
  • Sum Insured: Up to 2 Cr

SBI Loan Insurance Policy: FAQs

1. What is the SBI Loan Insurance policy?

SBI Loan Insurance policy is designed to offer you complete coverage as well as to help you repay your outstanding loan in case of medical emergencies arising due to critical illnesses or accidents, that lead to loss of job or life.

2. How many critical illnesses are covered under SBI Loan insurance policies?

The plan covers up to 13 critical illnesses, namely: Cancer of specified severity Kidney failure requiring regular dialysis Primary pulmonary arterial hypertension Multiple sclerosis with persisting symptoms Major organ/bone marrow transplant 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 Coma of specified severity Total blindness Permanent paralysis of limbs

3. Do I need to undergo a pre-medical checkup before buying an SBI Loan Insurance policy?

No, there is no need to undergo a pre-acceptance health check-up if the insured is less than 55 years old and chosen 1 crore as the sum insured.

4. Does the SBI Loan Insurance Policy offer any grace period in case I forgot to pay my premium?

Yes, the SBI Loan Insurance policy offers a grace period of 30 days in case premium payment is delayed.

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Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.