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SBI Health Insurance

SBI General Insurance Company is a very trusted name in India’s insurance market. The company began its operations in India as a joint venture between the State Bank of India and the Insurance Australia Group. At present, it has built a strong PAN India presence with more than 23000 branches of State Bank Group and 5500 Regional Rural Banks at more than 110 locations across the country.

Incurred claim ratio (2019-20)50.54%
Network Hospitals 6,000+
No. of policies sold (2019-20)564,200

SBI Health Insurance Plans

Out of all the insurance products offered by SBI, its health insurance plans are one of the best selling health insurance products available in the market at present. The company offers a wide variety of plans in the health insurance category. Here’s a list of those plans: 

  1. Arogya Supreme Plan 
  2. Arogya Sanjeevani Policy
  3. Arogya Premier Policy
  4. Arogya Plus Policy
  5. Arogya Top-up Policy
  6. Retail Health Insurance Policy
  7. Critical Illness Insurance Policy
  8. Hospital Daily Cash Insurance Policy
  9. Group Health Insurance
  10. Loan Insurance Policy

1. SBI Arogya Supreme Health Insurance Plan

This is a comprehensive health insurance plan that allows customers to safeguard the health care needs of themselves as well as their family members under one single plan.

Key Features:

  • Wide coverage: This is a comprehensive health insurance policy that consists of 20 basic covers and 8 additional covers that are optional.
  • Sum Insured options: The plan comes with a large number of the sum insured options starting from Rs. 1 lakh.
  • Policy term options: The plan allows policyholders to enjoy policy benefits for long term periods ranging from 1, 2 or 3 years

Eligibility Criteria: 

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 1,00,000Rs. 5,00,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

2. SBI Arogya Sanjeevani Policy

Arogya Sanjeevani policy is a basic health insurance plan designed by IRDA to provide customers with comprehensive coverage at affordable costs.

Key Features:

  • AYUSH Coverage: The plan allows customers to avail comprehensive inpatient treatment benefits at Ayurveda, Unani, Siddha and Homeopathy centres for the sum insured amount as stated in the policy wordings.
  • Entry without medical check up: No medical check-up up to the age of 55 years for people with no medical history.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 50,000Rs. 10,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

3. SBI Arogya Premier Policy

This plan is designed for customers who want to opt for wider coverage to ensure best healthcare treatments and top medical consultations.

Key Features:

  • No pre-policy medical test: The plan allows customers to enjoy pre-policy medical tests up to the age of 55 years for people with no medical history.
  • AYUSH Coverage: Customers have the option to enjoy inpatient treatment expenses at all AYUSH Centres including Ayurveda, Unani, Siddha and Homeopathy.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 10,00,000Rs. 30,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

4. SBI Arogya Plus Policy

Arogya Plus health insurance policy provides financial coverage to the policyholders against the rising treatment costs without burning a hole in their pockets. With this policy, customers can get their treatment at the best hospitals without worrying about the treatment expenses.

Key Features:

  • Multiple coverages: This policy is available in two forms i.e. individual and family floater plans. Both the options provide multiple coverages to the customers.
  • Sum Insured options: There are multiple sum insured options available under this plan and customers can select sum insured options as per their convenience.
  • Daycare and maternity coverage: The plan provides coverage against 141 day care expenses and maternity expenses up to OPD limit.

Eligibility Criteria: 

CriteriaMinimumMaximum
Entry age3 months65 years
Sum InsuredRs. 1,00,00,000Rs. 3,00,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

5. SBI Arogya Top up Policy

This health insurance policy is specifically designed for customers who wish to get enhanced protection at a low premium. The plan helps policyholders to meet rising medical costs when the coverage of their existing policy has exhausted.

Key Features: 

  • Wide Coverage- The plan provides a variety of sum insured options ranging from Rs. 1,00,000 to Rs. 10,00,000 in order to provide wide coverage to the customers.
  • Pre and post hospitalization- An additional coverage in the form of 60 days pre and 90 days post hospitalisation expenses is also provided to the customer.
  • Maternity expenses- The plan covers maternity expenses but the coverage is provided only after completing the first 9 months with the plan.

Eligibility Criteria: 

CriteriaMinimumMaximum
Entry age3 months65 years
Sum InsuredRs. 1,00,000Rs. 50,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

6. SBI Retail Health Insurance Policy

This policy is the perfect fit for customers who want to financially protect themselves and their family in case any one of them falls sick in future. The plan offers enhanced coverage by providing many add on benefits and that too, at reasonable premium rates.

Key Features:

  • Family floater option: The plan allows customers to cover their family members including self, spouse & 2 children under the same plan.
  • No pre-policy medical test: The facility of no pre-policy medical test is provided to the customers below the age of 45 years having no prior medical history.
  • Alternative treatment covered: A variety of alternative treatments such as accidental hospitalisation, HIV/AIDS, mental illness and genetic disorders are also included in this plan.

Eligibility Criteria: 

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 50,00,000Rs. 50,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

7. SBI Critical Illness Insurance Policy

SBI Critical illness policy is one of the best selling critical illness plans in the market currently. This is because the policy provides protection against 13 critical illnesses by offering a fixed amount of sum insured to the policyholder, irrespective of the actual hospital expenses incurred by them on the treatment.

Key Features: 

  • Enhanced protection: The plan offers coverage against 13 types of critical illnesses as listed in the policy document.
  • Wide coverage: To ensure wider coverage, the policy allows customers to opt for higher amount of sum insured upto Rs. 50,00,000.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 2,00,000Rs. 50,00,000
Premium Payment FrequencyAnnually, Half Yearly, Quarterly or Monthly

8. SBI Hospital Daily Cash Insurance Policy

This plan is designed to help policyholders in dealing with the expenses that arise on a daily basis during hospitalisation. These expenses are generally not covered in basic health insurance plans, and that is why this policy provides special coverage for the daily need expenses incurred while taking hospital treatment.

Key Features:

  • Daily cash benefit: The policy provides daily cash benefit in the form of four options ranging from Rs. 500 to Rs. 2000.
  • Convalescence Expenses: This policy provides fixed lump sum payment of the sum insured amount in order to take care of the convalescence expenses.
  • ICU Hospitalization: In case of ICU hospitalisation, the plan provides coverage for the ICU expenses up to twice the daily benefit amount.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years

9. SBI Group Health Insurance Plan

This insurance policy comes with a variety of benefits that are designed to provide protection against the rising medical costs by offering an affordable way to secure the best quality of healthcare.

Key Features: 

  • Multiple coverage options: The plan comes with Individual & Family Floater option which allows customers to cover their family members into the same plan. Members that can be covered include spouse, two legal & dependent children.
  • No medical check up: The policy does not require any pre-policy medical test for the customers who are below the age of 65 years and don’t have any medical history.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years
Sum InsuredRs. 1,00,000Rs. 5,00,000

10. SBI Loan Insurance Policy

This is a special type of health insurance plan that takes care of a customer who has taken a loan and due to some mishappening with his health, faces problems in paying back the loan or installment amount.

Key Features:

  • Critical illness cover: The plan provides coverage against 13 major illnesses/medical procedures, accidental death or permanent disablement and loss of job.
  • No medical check-up: Customers who opt for sum insured amounts of Rs 1 crore and/or are below the age of 45 years can take this policy without any medical check up.
  • Sum insured option: The policy offers the option to select their sum insured amount either on a fixed or reducing basis.

Eligibility Criteria:

CriteriaMinimumMaximum
Entry age18 years65 years

Why go for SBI health insurance?

  • Claim Settlement Ratio 

One of the best parts about SBI Insurance company is that the company holds a good reputation in the market for its strong claim settling power. The company has always settled the claims of its customers through a quick and hassle free claim process. At present, the claim settlement ratio of SBI General Insurance is 97.84%. This reflects that 97% customers of the company have got their claim settled during the last financial year. 

  • Solvency Ratio

Before investing money into an insurance company, it is suggested that the customer should make sure that the company has a strong financial background and can settle future payments of its customers in the long run. And for this, customers can take a look at the solvency ratio of the company. Thankfully, SBI General Insurance has always maintained a good solvency ratio. The current solvency ratio of this company is 2.21. 

  • Country-wide presence

The success of SBI General Insurance company can be measured from its nationwide presence. The company operates more than 24000 branches across 114 locations in India. In addition to this, the company also has a large distribution network which includes more than 10000 agents and 350 brokers. 

  • Lifelong renewability

One thing that is very important in health insurance products is renewability of the insurance policy. With SBI health insurance policies, customers can enjoy lifelong renewability in their insurance plan. This means that they can renew their plan after their policy period has expired and that too, as many times as they want.

How to calculate SBI health insurance premium?

Before buying any insurance plan, it is advisable that users should get an idea about its premium. In the case of SBI Health insurance, a good point is that customers can calculate the premium of their insurance policy beforehand by visiting the official website of the company. Given below are the steps to do the same. 

  1. Visit the website of SBI General Insurance company. 
  2. Open the menu bar from the top right corner of the page. 
  3. Click on the health tab and select your desired plan. 
  4. Click on the ‘Get Quote’ option and enter all the required details. 
  5. Next page will show details of the premium amount for the plan that you’ve selected. 

How To Buy SBI health insurance?

SBI Health insurance plans can be purchased through two simple methods- either online from the official website of the company or by visiting the nearest branch of SBI General Insurance. In order to buy the policy online, follow the points stated below: 

  1. Visit the official website of the company. 
  2. Click on the menu option located at the top right corner of the page. 
  3. Open the health tab and select your desired plan. 
  4. Click on the ‘Get Quote’ option and enter all the required details. 
  5. Select the plan option and click on ‘Buy’. 
  6. Check the sum insured, premium and policy period. You can also make changes if required. 
  7. Click on ‘Continue’ and submit your residential and nominee details.
  8. Make payment of the premium amount. 

In case the customer can’t buy or faces any problem in buying the policy online, he/she can also purchase it by visiting any nearest branch of SBI General Insurance.

SBI Health Insurance Policy Renewal Process

The customers of SBI Health insurance plans can now easily renew their policy within the span of a few minutes. As mentioned above, the company provides a lifelong renewability facility on its health insurance products. Given below is a step by step guide for renewing health insurance policy online- 

Step 1: Visit the official website of SBI general insurance. 

Step 2: Select the ‘health’ tab at the page and click on renew option. 

Step 3: Enter your policy details. 

Step 4: You will be redirected to the next page where you can check your plan’s summary and make the changes if required.

Step 5: Submit your payment fee. 

Once the payment is received by the company, it will send a notification and your policy document on your registered email address and contact number.

Claim Process

SBI Insurance company adopts a fast and transparent approach while settling the claims of its customers. This means that the claim process of the company is simple and very convenient. Given below is a detailed description of the claim process of SBI Health Insurance plans.

  1. To apply for the claim, the customer has to first intimate the company about the same and get their claim number/reference number. For this, they can contact the toll-free number of the company at 1800 102 1111 or SMS “CLAIM” to 561612 or email the details on customer.care@ sbigeneral.in.
  2. After receiving the claim request, the company assigns a customer care representative to provide the customer with the details of the documents required for processing the claim. 
  3. The customer has to submit all the required documents to the Claims Manager / Executive of the company.
  4. After verifying all the documents, the company initiates the claim process and settles all admissible claims within 30 days of placing the request.

Frequently Asked Questions

1. Which critical illnesses are included in the critical illness plan?

There are 13 critical illnesses covered in the SBI Critical illness policy. This includes: 

  • Cancer
  • End-Stage Kidney Failure
  • Primary Pulmonary Arterial Hypertension
  • Multiple Sclerosis
  • Major Organ Transplant
  • Coronary artery bypass grafts (with surgery to divide the breastbone)
  • Aorta Graft Surgery
  • Heart Valve Surgery
  • Stroke
  • Myocardial Infarction (First Heart Attack)
  • Coma
  • Total Blindness
  • Paralysis

2. Are there any exclusions to the health insurance plans?

Yes, SBI health insurance plans come with a certain set of exclusions. Given below is a list of general exclusions. For specific plan related exclusion, refer to the plan brochure. 

  • Obesity / Weight Control treatments
  • Change of Gender Treatments
  • Cosmetic or Plastic Surgery 
  • Participation in hazardous or adventure sports
  • Breach of Law

3. What is the ‘Free look period’?

SBI Insurance company provides its customers with a free look period of 15 days. During this time period the customers can return their policy back to the company if he/she does not feel satisfied with the terms or conditions of the plan.

4. How much time is taken by the company to settle a claim?

SBI General Insurance company initiates the claim process and settles all the admissible claims within 30 days of receipt of claim request by the customer.

5. How can I check the status of my claim?

Customers can now check the status of their claim request online at the official website of the company. Follow the given steps: 

  1. Visit the website and select the menu tab located at the top right corner. 
  2. Click on ‘quick assist’ option. 
  3. Select the ‘claim status’ option and fill in the required details. 
  4. The next page will show the status of your claim request.