Established in 2009, SBI General Insurance Company Limited is a joint venture between the State Bank of India, one of the largest Indian banking franchises, and Insurance Australia Group (IAG), the Australia-based international general insurance group. It has a presence in around 114 locations and its 10,000+ agents provide a range of services spanning 3 important segments: retail, corporate, and SME. Its umbrella of products ranges from motor, health, fire, marine to construction, engineering, etc.
Like all its general insurance products, travel insurance has become a crucial product of the times in which we live. Travel has become a necessity, and it is important to protect ourselves from the unexpected events that can come while traveling. These events can quickly shatter our lives financially and physically, and hence SBI has designed its Travel Insurance (Business and Holiday) product to meet this demand and cover you against the financial and medical emergencies that occur while traveling abroad.
SBI General Travel Insurance (Business and Holiday) is a comprehensive insurance policy that provides a wide range of benefits to individuals and families who decide to travel abroad for personal or business reasons.
Who can buy it?
1. Indian Nationals traveling for business or holiday purposes
2. Foreign Nationals working in India (Age Limit: 6 months – 70 years)
Period of Insurance
Single Trip: 1 day – 180 days
Multi-trip: For one year
**Last Updated on 19-11-2020
Medical Expenses including Evacuation & Repatriation
50,000 to 5,00,000
10% cover under Section (A) subject to a maximum of 25,000
2000 on floater basis
50% cover under Section (A) or 2,00,000, whichever is lower.
**Last Updated on 19-11-2020
SBI General Insurance has designed a user-friendly website that allows you to easily access the policy details and purchase a plan according to your needs. The following steps will help you purchase the policy:
SBI General Insurance has instituted a simple claims procedure to ensure that all claims are settled in a quick and clear manner. The following steps are a part of the procedure:
The policy under single trip insurance can be extended for a maximum of 180 days only on the condition that the total policy duration after extension doesn't exceed 270 days. The premium will be calculated by deducting the premium received from the total premium of the duration.
The following reasons become a basis for exclusions under the SBI Travel policy:
If you have selected the multi-trip insurance policy, you can extend the policy by paying the premium during renewal. However, single trip policies are non-renewable.
Yes, all policyholders have a free-look period of 15 days during which they can cancel the policy and get a refund of their premium after deduction of necessary charges.
Yes. If you have purchased a single trip policy, then you can cancel it after 14 days of purchase of the policy and after producing the proof that the journey has been canceled. Multi-trip insurance can be canceled anytime. In both cases, the cancellation will be for all persons under the policy and the premium amount will be refunded after deduction of necessary charges.
Last updated on 19-11-2020