Loan Insurance Policy
  • Loan repayment after an unfortunate scenario
  • Details of the plan
  • Inclusions and exclusions
SBI Health Insurance
premium

Network hospitals

20000+

premium

Claim settlement ratio

95.04%

premium

Sum insured

Up to 5 Lakh

premium

No. of Plans

10

premium

Solvency Ratio

1.98

premium

Pan India Presence

24700+

Customized Health Insurance Plan for you.

Get upto 15% Online Discount*

Select Members You Want To Insure

Age of Eldest Member

premium

Network hospitals

20000+

premium

Claim settlement ratio

95.04%

premium

Sum insured

Up to 5 Lakh

premium

No. of Plans

10

premium

Solvency Ratio

1.98

premium

Pan India Presence

24700+

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 Loan Insurance Plan Specifications

Entry Age

18 years to 65 years

Sum Insured

Up to Rs. 1 Crore

Coverage Against

Critical Illness/Accident/Job Loss

Policy Term

Maximum for 3 years

Initial Waiting Period

90 Days

Critical Illnesses Covered

13 Illnesses

*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 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.

Other Health Insurance Companies

SBI Loan Insurance Plan Exclusions

War, invasion; acts of terrorism, riot, or 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 SBI Loan Insurance Policy

At PolicyX.com, you will get the best services from the inception of the policy till the settlement of the claim if any. Read the below section to explore the buying process of the SBI Loan Insurance Policy to its claim settlement process.

Know more about SBI Loan Insurance, claim process, buying process and contact details of the company by clicking on the sections below:

Claim Process

Click to know SBI Health Claim Process..

Buying Process

Click to know SBI Health Buying Process.

Feel free to contact SBI Health Insurance for more details.

Renewal Process

Click to know SBI Health Insurance Renewal Process.

Explore other SBI Health Plans

Comprehensive Plan

A comprehensive health insurance plan that offers a 15% increase in cumulative bonus for every claim-free year and comes with 8 optional coverage options.

Unique Features

  • Bariatric Surgery cover
  • 573 Day Care procedures covered
  • Domestic Air Ambulance cover

Comprehensive/ Family Floater Plan

A policy designed to provide coverage to you and your family. Providing high SI of 30 lakhs, it covers maternity expenses to childbirth.

Unique Features

  • 12 advanced treatment procedures
  • Auto reinstatement of Sum Insured
  • No pre medical up to 55 years

Standard Plan

A standard health insurance plan that comes with a coverage of 10 Lakhs. Moreover, the plan comes with a 5% Co-pay, applicable on all the admissible claims.

Unique Features

  • Advanced Procedures covered
  • Lifelong renewals
  • Cumulative Bonus of 5%

Affordable Plan

SBI Retail Health Insurance Policy

A affordable health insurance plan that provides coverage of up to 5 Lakhs. The plan offers several add-on riders for enhanced coverage.

Unique Features

  • No pre-medical up to 45 years
  • Flexible plan options
  • Child care available

Top-up policy

The policy comes into action post exhaustion of your current health plan and provides affordable premiums with various benefits.

Unique Benefits

  • Maternity Expenses covered
  • Ambulance coverage up to 5K
  • Coverage up to 50 Lakhs

Critical Illness policy

The plan offers coverage against 13 critical illnesses & financial support irrespective of the actual medical expenses, & comes with two policy tenures enabling customization.

Unique Features

  • Entry Age upto 65 years
  • Free-look period of 15 days
  • Coverage of up to 10 Lakh

Hospital Daily Cash

SBI Hospital Daily Cash Insurance Policy

The policy provides a fixed amount to the claimant for each day of hospitalization and expenses like traveling, food, and much more.

Unique Features

  • 4 daily benefit amount options
  • Hospital confinement expenses
  • Convalescence expenses

Loan Insurance Policy

SBI Loan Insurance policy helps you to repay your outstanding loan in case you are a victim of any of the listed 13 critical illnesses/accidental death/unemployment.

Unique Features

  • No Medical Tests required
  • Sum Insured of Rs.1 Crore
  • Available for a maximum of 3 years

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.

Health Insurance Articles

SBI Loan Insurance Policy: FAQs

1. What is 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 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.

Read Reviews & Ratings

Customer Review Image

priya

Pune

June 7, 2022

Best buy and reliable. I recently got a life insurance for myself from SBI. Also, my purchasing experience was made easy and swift, apart from the best deal given by PolicyX.

Customer Review Image

Saksham

Ahmedabad

June 7, 2022

I got the sbi general term insurance plan last year as I am concerned about my family. Such great plans. Great work.

Customer Review Image

kuljeet singh

Chandigarh

March 14, 2022

very good company with good plans. They always reply to my and my wife queries related to our old diseases and new doctor consultations. they OPD plan is very helpful.

Customer Review Image

Dhiraj Khanna

Mumbai

February 17, 2022

This is a reliable company as they fulfill their promise to help during any medical emergency. I am satisfied with their services.

Customer Review Image

Avantika Nagpal

Kolkata

October 12, 2021

Very amazing and helpful service offered by SBI Health. I am impressed by the way this company works.

Customer Review Image

Rekha Tyagi

Kolkata

October 8, 2021

Well done SBI Health. You are doing a great job. Also, I wanna thank PolicyX.com for your continuous support. Best of luck to both companies.

Customer Review Image

Kuwali Rai

Gandhinagar

September 2, 2021

truly grateful for all the help received at PolicyX. the agents are smart, dont waste time and have good knowlege

Customer Review Image

Vishwanber Sharma

Guwahati

September 1, 2021

Satisfied with the purchased plan. Will recommend others to invest too. Policy X team has guided, so thanks for that too

View All SBI Health Insurance Reviews