Network hospitals
20000+
Claim settlement ratio
95.04%
Sum insured
Up to 5 Lakh
No. of Plans
10
Solvency Ratio
1.98
Pan India Presence
24700+
Network hospitals
20000+
Claim settlement ratio
95.04%
Sum insured
Up to 5 Lakh
No. of Plans
10
Solvency Ratio
1.98
Pan India Presence
24700+
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:
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.
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:
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:
B. Undergoing for the first time the following surgical procedures, more specifically described below:
C. Occurrence for the first time of the following medical events more specifically described below:
Exclusions:
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:
The plan pays out the maximum of 3 EMIs in the unfortunate event of temporary unemployment or dismissal or retrenchment.
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.
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
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
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
Affordable Plan
A family floater plan for metro and non-metro cities offering wide coverage of INR 5 Lakhs. No pre-policy medical check-up is required to avail of this policy.
Unique Features
Top-up policy
The policy comes into action post exhaustion of your current health plan and provides affordable premiums with various benefits.
Unique Benefits
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
Hospital Daily Cash
The policy provides a fixed amount to the claimant for each day of hospitalization and expenses like traveling, food, and much more.
Unique Features
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
Group Insurance Policy
This plan is available for individuals and families, wherein the plan will take care of medical expenses with affordable premium rates.
Unique Features
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.
See More Health Insurance Articles
See More Health Insurance Articles
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.
The plan covers up to 13 critical illnesses, namely:
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.
Yes, the SBI Loan Insurance policy offers a grace period of 30 days in case premium payment is delayed.
Piyush Kumar
Indore
May 1, 2023
PolicyX offers a wide range of insurance options from various insurance providers. Their website allowed me to compare different policies and choose the one that best suits my needs and budget.
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.
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.
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.
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.
Avantika Nagpal
Kolkata
October 12, 2021
Very amazing and helpful service offered by SBI Health. I am impressed by the way this company works.
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.
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
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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