The joint venture between Insurance Australia group and State Bank of India created SBI general insurance Company Ltd. The total capital ratio is 74 %: 26 % by SBI and IAG. We are the best banking franchise in India. We have over 19600 branches which is expected to be the largest in the entire world. We are now moving ahead to come up with new banking models linking to the new era of technology. Our motto is to be having the most fair business practices and be the trust worthy insurer in the policy market.
The growth of 33 percent was registered after the financial year of 2014- 2015 which was the fifth year of operation. The gross written premium of Rs. 1606 crores was registered. The company extended itself to 77 cities and 2246 employees by the end of March 2015 which was a great accomplishment in itself. If we look at the statistics of the SBI family, it has 14178 associated bank employees and 6323 agents. The hard work and trust on us have gained such achievements for our company and has made us the first choice for many clients.
The modern age believes in comfort and luxury. Keeping the changing needs of the clients, our online facilities have been improved to match up your needs and desires. Whether it is the payment you need to do or any renewal of the policy, all of it can be done by sitting at home in one click. All you have to do is log in to our website and put your policy number to check the status or any other thing regarding the policy you have taken. You can also do the payment of the premium via credit/ debit card or Net banking. UPI also is included in our payment section. If you get any discomfort or query, you can always take help of our online agents or website employees who are available 24 x 7 to help you seek the solutions. With making most of the work online and keeping everything transparent, the documentation work has reduced and whatever little necessary is done via the agent coming at your home or office at the suitable time given by you.
Accidents are unavoidable and are unpleasant. These uninvited mishaps can create lot of financial crisis and can lead to stress. There are two types of plan one can opt for insurance. Below are the details of the same.
It can be picked up in group having accounts in same SBI or associated banks. The eligibility age range from 18- 65 years and can be bought by any permanent Indian resident having account in SBI or any of its associated bank. The group insurance plan will be covering the loss of death solely due to accident and the assured sum can be decided by the customer as per his/ her requirement.
The policy can be availed by the age group 18- 65 years of age adults who are salaried, self employed or are the ones in to any business. The coverage of the plan will be including unfortunate death, disability or income loss solely due to accident. In case of death the total hundred percent sum capitol will be given to the family member whose name was given by nominee during the insurance. The total/ partial, temporary or permanent disablement will be given the percentage of the sum mentioned in the terms and conditions of the policy which you will go through before signing or paying the premium for the policy. The hundred percent of the sum capitol is valid only in case of permanent total disablement. In case of temporary the sum as per the policy conditions will be given on weekly basis for 104 weeks after the accident (recovery time).
There are various combinations of plans to choose from. Few of them to mention are accidental death, Accidental death+ permanent disability (total and partial), Accidental death + Permanent total disability and Accidental death + permanent disability (total and partial) + Temporary disablement (total + partial). Additional add- on will be covering the hospital confinement allowance and ambulance charges (air ambulance will be included).
Note: There is an extra adaptation allowance plan also which can be clubbed where the company will be giving a little sum to rectify or make the house or vehicle which in case is affected solely by the accident.
Behind every policy there are some limitations of coverage. We also have few of the exclusions which should be known by you. Any kind of suicidal attempt, addiction of liquor or drugs, disabilities or injuries due to any criminal act/ war/ nuclear weapons/ armed forces etc. The detailed description can be read thoroughly in our terms and conditions page.
1. Will the general accident policy cover the pregnancy or any pre- existing diseases?
No, the pregnancy will not be included for spouse or the self insured. Any kind of disease or injury because of the pregnancy or related to it will not be included in the plan. Even post delivery issues will not be covered. Throwing light on pre- existing diseases, as they were there when you signed the policy documents hence, will not be covered.
2. How should I renew my policy from home?
You can either call on our helpline and we send an agent to you or you can sit at home and finish the formalities online. All you have to do is log in to your Id from our website and see your policy details. After that, read all the policy renewal conditions and then choose any of the online payment options available for you. Once the payment is processed, you will get the receipt online which you can save or print it for your reference. You can cyber print it also to save paper. If you are unsure of online payment methods, you can seek help from our online support system which is available every time you log in.