SBI General Insurance Company Ltd. started as a joint business enterprise between the State Bank of India (74% of capital share) and Insurance Australia Group (26% of capital share). The company’s geographical coverage extends to 110 cities pan India and has its presence across 350+ locations via satellite resources. SBI health insurance offers an extensive range of sum assured options from Rs. 50,000 to Rs. 50 lakhs.
IRDA data reveals that SBI General’s incurred claim ratio is 85%, which reflects positively. The company earned a total net premium of Rs. 14.76 billion in the financial year 2017, suggesting a growth of 23% from the previous financial year.
|Incurred Claim Ratio||75.01%|
|Waiting Period||4 years|
|Plan Name||Entry Age Criteria||Waiting period for pre-existing diseases||Pre-medical Test||Sum Assured (Rs.)|
|SBI Group Health Insurance Plan||18 years and above||4 years||After 65 years||1 lakh to 5 lakh|
|SBI Critical illness Insurance Plan||18 to 65 yrs.||Not covered||Required||Up to 50 lakhs|
|SBI Hospital Daily Cash Insurance Plan||18 to 65 yrs.||90 days||After 35 years||Rs. 500 to 2000 per day|
|SBI Arogya Plus Health Insurance Plan||3 months to 65 years||4 years||After 55 years||1 to 3 lakhs|
|SBI Arogya Premier Plan||18 to 65 years.||48 months||After 55 years||10 to 30 lakhs|
|SBI Arogya Top-up Plan||3 months to 65 years||After 4 years||After 55 years||1 lakh to 50 lakhs ( subjected to deductibles)|
SBI health insurance offers a variety of medical insurance plans; you can buy the one that meets most of your health concerns –
This plan offers coverage from Rs. 1 lakh to Rs. 5 lakhs. It covers the expenses incurred on chemotherapy, operation theatre, dialysis etc.
SBI Critical Illness Insurance policy provides coverage against thirteen most crucial critical illnesses and the sum assured limit is Rs. 50 lakhs.
Anyone between the age group of 18 and 65 years can buy this plan. Covers accidental and ICU hospitalization up to twice the benefit.
142 daycare procedures are covered and no medical screening is required till 55 years of age.
After 9 months of the waiting period, maternity expenses are covered. Alternative cover for Homeopathy, Ayurveda, Siddha & Unani treatment.
Get a top-up cover from Rs. 1 to 30 lakhs with deductibles of Rs. 1 to 10 lakhs.
Before renewing your insurance policy, you can try reading SBI health insurance reviews to see what the other customers have to say about SBI mediclaim policies. After that, you can renew your mediclaim policy online on the insurer’s site by sharing your policy details such as-
SBI health insurance plan covers the following –
|Medical Expenses Covered||Insurance Limit (Rs.)|
|Hospitalization expenses inclusive of room and service charges, boarding and nursing charges etc.||Up to 1% of the insured amount on daily basis|
|Intensive Care Unit (ICU) charges||Up to 2% of the insured amount on daily basis|
|All permissible claims under 1 & 2 during the policy tenure||Up to 25% of the insured amount per illness or injury per claim|
|Fees charged by consultants & specialists||Up to 40% of the insured amount per illness or injury per claim|
|Charges incurred on anesthesia, surgical appliances, blood, oxygen, operation theatre etc.||Up to 40% of the insured amount per illness or injury per claim|
|Pre-hospitalization expenditure||Up to 10% of the allowable hospitalization expenses incurred 30 days before the hospital admission date|
|Post-hospitalization expenditure||Up to 10% of the allowable hospitalization expenses incurred 60 days post-hospital discharge|
|Ambulance charges||1% of the total sum insured ( maximum limit of Rs. 1500)|
|Free medical check-up ( after every 4 non-claim years)||1% of total sum insured ( maximum limit of Rs. 2500)|
|Parental care above the age of 60 years||Provision of an attendant or nurse after discharge from the hospital (either Rs. 500 or actual cost, whichever turns out to be lesser, up to a max of 10 days per hospitalization). Maximum limit of reimbursement is 15 days during the policy tenure|
|Childcare charges below the age of 10 years||For each completed day of hospitalization, you can avail escort charges of Rs. 500. Maximum limit of reimbursement is 30 days during the policy tenure|
|Cataract treatment limit ( per eye basis)||After completion of 2 policy years, you can get compensated for an amount equal to 15% of sum insured or up to a maximum limit of Rs. 25000|
|Accidental hospitalization expenses||Increment of sum assured by 25% up to a maximum limit of Rs.1 lakhs (for accidental hospitalization) Reimbursable only once during the policy period|
|Coverage for alternative treatment per Policy period (Ayurveda treatment in a government registered hospital which is covered under our panel)||Reimbursement of Ayurveda treatment, maximum of 15% of sum insured or Rs. 20000. Reimbursement of homeopathy and Unani treatment up to a maximum of 10% or Rs. 15000.|
|Domiciliary hospitalization expenses||Regular domiciliary hospitalization charges as per policy documents. Subjected to 20% of the sum assured or Rs.20,000 whichever is less|
|Convalescence benefit from 10 years to 60 years||Up to a maximum of Rs. 5000, in case of hospitalization due to accidental injuries, illnesses for a period of 10 following days or more. Allowed only once during the policy tenure|
|Co-payment facilities in non-network hospitals ( up to the claim limit)||10% on all permissible claims|
|Cashless claim settlement facility||Valid across all the empanelled hospitals that are registered with SBI General Health Insurance|
|Coverage for specified day surgeries, requiring less than 24 hours of hospitalization||Reimbursement of specified day care procedures including dental surgeries due to accidents, dialysis procedure, chemotherapy, radiotherapy, eye surgeries, tonsillectomy and similar|
Listed below are the circumstances where the insurance company is not liable to fulfill your claim requests –
SBI health insurance provides health care services and a sense of security to its customers. Elucidated below are a few prominent reasons why it is a favorite with customers –
Usually, the following factors are taken into consideration to calculate SBI medical insurance premium-
You can also use SBI health insurance premium calculator online to know your premium.
The scenario of health is ever changing and with a sedentary lifestyle and rising medical inflation, it’s getting even worse. And this shouldn’t stop us from wishing for a healthy life. SBI Health insurance plans are designed to assist you financially in the time of need and safeguard you and your family from unexpected health issues, which may otherwise crumble your financial situation.
SBI medical insurance plans help in managing your health treatments without any stress and save you running from pillar to post at the eleventh hour. You can select from SBI senior citizen health insurance plans, individual plans, corporate plans, and corporate group policies, to ensure health and happiness for your loved ones.
Ans: In SBI health insurance floater policy all the family members are included in one plan and single sum insured. For instance it covers 2 Adults, 2 Adults & 1 Child, 2 Adults & 2 Children, 2 Adults, 1 Adult & 2 Children, 1 Adult & 1 Children.
Ans: The policy compensates the expenses incurred on some specified day care surgeries/ treatment where hospitalization is not required for more than 24 hours.
Ans: If no claims are made during the policy period you do not claim in any policy period then you will not get any refund, and you are eligible to get a cumulative bonus of 5 to 25 percent.
Ans: For Ayurvedic, Homeopathy and Unani treatment is taken in a government hospital or a government recognized institute is covered under SBI mediclaim policy.
The sum assured limit for Ayurvedic Treatment is Rs. 20,000 and max. up to 15 percent. The sum assured limit for Ayurvedic Treatment is Rs. 15,000 and max. up to 10 percent.
Ans: Deductions u/s 80 D of Income Tax Act can be availed on the health insurance premium amount-
Ans: Health insurance premium is determined after considering the age of the oldest family member.
Ans. You can avail cashless treatment in any of the network hospitals. The insurer will pay off the hospital bill directly. To check the list of panel hospitals you can visit the insurer’s site.