SBI Health insurance was formed with the motive to serve the emerging medical needs of growing population. In today’s world, every person desires to live a tension free life and which is why they search for various alternative through which they can get financial stability from eventualities. SBI Health insurance took birth with the help of two major contributors namely, State Bank of India (SBI), leading public sector bank and Insurance Australia Group (IAG), an international general insurance company.
On SBI Health insurance Official Website
Updated: 29-05-2024 10:46:09 AM
Start Date of the company | 2010 |
Number of Branches | 110+ cities |
Major Contributors | SBI Banks and IAG (Insurance Australia Group) |
Insurance Products Offered | Health, motor, travel, home, personal accident |
Number of Employees | 21,000 IRDA certified employees |
A policyholder can extract plenty of benefits from SBI Health insurance after investing their money.
Number of Network Hospitals | 5884 |
Claim Settlement Ratio (for health) | 98% |
Portability | Yes |
Renewability of the Policy | Lifetime |
Discounts | Available |
Free Look Period | 15 days |
Grace Period | 30 days |
Pre-Policy Medical Checkup | Not Required |
SBI General’s Guidelines before Renewal
Online Renewal Process
While purchasing the SBI health insurance plan, you have to highlight or mention some personal details at the hour of purchase. By using SBI premium calculator, insured can determine the correct value they have to submit every policy year.
There are 142 processes that are included by the SBI General. Some of the treatments covered are operation of tongue, eye, ear, nose, skin, mouth, face, tonsils, breast, digestive tract, female sexual organs, prostate vesicles, scrotum, urinary system, cancer chemotherapy, radiotherapy, etc.
If the policyholder fails to submit the premium on the due date, then 30 days of grace period is allotted to pay the due premiums.
The company promises to pay the claim amount within 7 days after the claim has been dictated by the insurer and the claim has been accepted by the insurer. If the insurer fails to fulfill the claim settlement within this time limit, then an interest amounting to 2% above the bank rate will be given in addition to the actual amount.
The claims must be informed within 15 days after the hospitalization period is completed and discharge letter is issued to the insured.
The insured is required to submit all the documents in supplementary to the claim intimation form. The insured must genuinely declare each and every detail asked on the form in order to avoid repudiation/ rejection of a claim.
The post-hospitalization claims must get verbalized over a call or in written within 15 days after the post-hospitalization terminates. Also, it is the responsibility of the insured to preserve original as well photocopies of all the medical bills, diagnosis reports, consultation notes, pharmacy bills, etc for reimbursement of claims.
Yes, the company will provide you 15 days starting just after the purchase of SBI health insurance. In this period, the insured person can examine policy benefits, its terms and conditions, and other associated factors.
The premiums will be returned after the deduction of tax and other medical cost arrived during the 15 days period.
Yes, if you are bearing any kind of diseases during the purchase of the policy, the disease will get covered after a waiting period of 48 months. The insured must comply following conditions to get coverage for the same-
The treatment taken at home must be more than 3 days and the insured must be accomplished either of the two conditions-
Yes, SBI health insurance policies do contain this feature of “No Claim Bonus or Cumulative Bonus” where the insured will get a maximum bonus equal to 50% of the sum insured.