SBI Loan Insurance Policy

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 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 the maximum of 3 EMIs in the unfortunate event of temporary unemployment or dismissal or retrenchment.

Exclusions:

• Termination, dismissal, temporary suspension, or retrenchment due to fraud or dishonesty, 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.