The State Bank of India (SBI) is a multinational, Indian-origin financial services statutory body. It offers Insurance and financial services in multiple domains, including the ever-growing health sector. Regarding health insurance, SBI provides a wide variety of plans that cater to the needs of individuals and groups or families. SBI aims to provide health insurance and financial services to help them pay their medical bills easily and provide maximum cashless benefits at all times. Their vision extends to transforming India into a self-sufficient country in the health care sector. Let's talk about the features of SBI health insurance, its various types, benefits, claim process, etc.
Key Features of SBI Health Insurance
SBI health insurance is your all-in-one insurance provider with sustainable solutions. Some key highlights of SBI health insurance are:
- Health insurance for all
- A complete end-to-end digital online buying process.
- Instant issuance of your health policy
- Claims settled within no waiting period
- Inclusion of a large number of hospitals, both private and government
- Online health insurance service
Know Your Health Insurance Plan
It can get highly confusing when choosing a health insurance policy. The important features you should look out for in any policy are enlisted in each SBI health insurance policy below.
SBI Group Health Insurance
- Get health insurance for a group of people with unique benefits.
- Pre-policy Medical Test: There is no pre-policy medical test conducted up to the age of 65 years with no known medical history of any disease.
- In case of Diseases: If you have specified any conditions you suffer from before buying a policy, a four-year waiting period will apply.
- Expenses Covered: SBI group health insurance covers pre and post-hospitalisation medical expenses ranging from 30 and 60 days, respectively. This may also include investigations, medicines, consultations, or any other available medical facility.
- Cashless Benefits: Your SBI health insurance can be claimed in around a wide network of 3000 hospitals across India. The cashless claim procedure is easy to apply and is completed by our team within a few hours. The coverage offered is between INR 1 lakh and INR 5 lakh.
- Renewal Policy: SBI allows lifelong renewal of your health insurance policy. Once you pay your SBI health insurance renewal premiums annually within the deadlines, your policy covers your medical needs for a lifetime.
- Tax Exemption: Premiums you pay are exempted under Section 80D of the Income Tax Act, up to INR 1 lakh.
SBI Arogya Premier Policy
- Pre-policy Medical Test: No pre-policy medical check-up is done for all individuals up to the age of 55 years and with no pre-existing diseases.
- Policy Details: Arogya premier is for individuals desiring a wider coverage of their health needs. From ambulance costs to alternative treatments and premier services for premier individuals. This policy covers individuals, their families, and dependent relations subject to conditions.
- Tax Exemption: Get tax exemption under section 80D for all the premiums that you pay for your health insurance policy.
- Cumulative Bonus: If you do not claim your health insurance in the ongoing year, you get a cumulative bonus for your policy renewal in the following year. This no-claim bonus ranges from 10% to 50% of your policy coverage.
- Coverage: Arogya Premier Health Insurance Policy covers your hospitalisation expenses as well as 142 daycare hospital needs. Coverage for your policy may fall between INR 10 lakh and INR 30 lakh.
SBI General Critical Illness Insurance
- As the name suggests, under this, you can also get health insurance for critical illnesses.
- Policy Details: SBI offers exclusive health insurance for 13 major critical illnesses with fixed coverage and fixed term. Get your medical expenses covered up to the age of 65 years. There are two plans under SBI health insurance critical illness, a 1-year plan and a 3-year plan.
- Coverage: A huge coverage of INR 50 lakh is available, subject to policy renewals. All major hospitals are covered under our 3000 network hospitals.
- Tax Exemption: Get tax benefits for your premium and annual renewal under Section 80D of your IT returns.
SBI Hospital Daily Cash Insurance
- Policy Details: Other daily expenses like food, transport, and miscellaneous expenses may not get covered under a normal health insurance policy, but SBI offers a hospitalisation expenses policy along with your health insurance policy. Get all your other expenses covered with more benefits. This scheme is available for all individuals between 18 to 65 years of age. The cash benefit is available for up to INR 2000.
- Tax Exemption: Along with your health insurance premiums, daily hospitalisation policy premiums are also exempted from tax under Section 80D of the income tax act.
- Convalescence Expenses: Convalescent funds are provided up to INR 5000.
- Coverage Plans: Daily hospitalisation coverage is categorised into four plans that include INR 500, INR 1000, INR 1500, and INR 2000. You can choose your plan and daily amount limit.
- Health insurance renewal of this policy is subject to individual request and does not have a fixed period.
Benefits of SBI Health Insurance
It's not just about affordable premiums and illness coverage. SBI health insurance provides you with some additional benefits that you should know about. Let's take a look at them:
- Covering any major and minor health needs with maximum cashless benefits.
- Stay away from the hassle of settling health insurance claims while in the hospital. Just inform your hospital insurance department and insurance policy company. Your cashless claims will be handled without long queues and tiring formalities.
How to Apply for SBI Health Insurance?
Applying for health insurance is simple. Just follow these steps and get going.
- Create an account or fill in your details on the SBI health insurance page.
- Complete necessary formalities and choose the best plan.
- You can also calculate the health insurance coverage that you require for yourself and your family.
- The SBI team will get in touch with you within no time.
- Complete the process and begin a journey towards a worry-free life!
How to Claim Health Insurance?
The SBI health insurance claims procedure is hassle-free. The SBI team is available before, during, and after your hospitalisation phase. Three key steps you need to undertake are:
- Inform Your Health Insurance Provider: If you get hospitalised or plan to get a medical procedure done, inform the SBI team by mail or call the hospital insurance department.
- Cashless Claim Settlement: The team, together with hospital officials, takes care of your cashless insurance claim during your stay at the hospital. You will be notified once all the bills are settled, and you are ready to go home.
- Other Expenses: Pre and post-hospitalisation expenses can be claimed as reimbursements by following standard protocols for the same.
Conclusion
A health insurance policy is your saviour in times of medical emergencies. SBI provides one of the best health insurance policies available in the market today. Along with providing a standard health insurance plan, it takes care of your pre and post-hospitalisation needs and allows you a daily cash benefit and an affordable premium. The SBI health insurance team will settle your claim in no time, making your hospital stay the most joyful and hassle-free experience.
You can choose from the wide range of health insurance plans made available by SBI and/or choose to take help from the Paytm Insurance team. Paytm Insurance provides a secure and hassle-free platform for all your insurance requirements. Compare and buy policies from SBI and other reputed insurance providers under a single roof. With the benefits of online transactions and formalities, your health insurance is good to go in no time. Avail of no-claim bonus and tax exemption for all your policy premiums. Choose health! Choose SBI as your health insurance partner.
Read more - A List of Diseases SBI General Health Insurance Plans Covers
