SBI General Insurance Company was founded in 2010 due to the merger of Insurance Australia Group (IAG), a multinational insurance company with its headquarters in Australia, and State Bank of India, the largest and most international public sector bank in India. The company provides various non-life insurance products for the corporate market, including specialised plans for a rural customer segment and fire, marine, aviation, and liability insurance. The company has a national presence through its branches and satellite offices in most cities, along with the more prominent presence of State Bank of India branches in every region of the nation.
Awards & Recognition
SBI General Insurance Company has won many awards due to their sheer willpower to offer the best health insurance products. Let’s take a look at it:
- SBI General Insurance was named the 2018 ET Best BFSI Brand Award winner.
- For its goods, services, and CSR initiatives, SBI General has won numerous awards, including the FICCI Insurance Industry Awards, presented by Outlook Money, Business Today, and others.
- SBI General has partnered with numerous NGOs and programmes to assist the most vulnerable communities as part of its CSR programme. These contributions have been made to health, road safety, sanitation, education, sustainability, and livelihoods.
SBI Health Insurance Overview
A variety of health-related products with many features are available from SBI medical insurance company, which makes it a trustworthy option for buyers. Also, the company’s strength is solid. So, let us take a look at some of the specifications:
| Particular | Specifications |
|---|---|
| Network Hospitals | 7500+ |
| Incurred Claim Ratio (2021-22) | 81.92 |
| Claim Settlement Ratio (less than three months) (2021-22) | 95.04 |
| Solvency Ratio (2021-22) | 1.98 |
| Market Share (2021-22) | 2735.09 Crores |
*Data was obtained from the IRDAI 2021-22 annual report.
Key Features of SBI General Health Insurance
Some of the additional key characteristics of SBI General Health Insurance are listed below:
Claim Settlement Ratio
According to the IRDAI Annual Report 2021–22, SBI has resolved 95.04 per cent of claims, which is a perfect sign. The higher the claim settlement ratio, the more claims were settled during the tenure.
Network Hospitals
opting for an insurance provider with an extensive network of hospitals in your area will greatly assist you in the event of a medical emergency. You can secure policyholders' medical/health conditions with SBI Health Insurance Company's 7500+ network hospitals.
Solvency Ratio
A company's ability to fulfil its financial commitments is demonstrated by its solvency ratio. IRDAI currently requires companies to maintain a solvency ratio of 1.5 per cent. The SBI medical Insurance Company's solvency ratio is 1.98, according to the IRDAI Annual Report for 2021–22.
PAN India Offices
The company is present in more than 110 cities across India, in addition to 350 additional locations through satellite resources, so you won't have to look for health insurance all over the place.
Health Insurance Plans Offered By SBI Health insurance
Several insurance products are offered by SBI Health Insurance. So let's take a look at the classification.
Individual and Family Health Insurance Plan
 |
SBI Arogya Supreme |
Coverage Benefits
- Domiciliary Hospitalization
- HIV/ AIDS Cover
- Mental Healthcare
Eligibility Criteria
Entry Age: 91 Days - 65 Years
Sum Insured: Upto 50 Lakhs
|
SBI Arogya Premier Health Insurance |
Coverage Benefits
- Pre/ Post Hospitalization
- Domiciliary Treatments
- AYUSH Benefits
Eligibility Criteria
Entry Age: 91 Days - 65 Years
Sum Insured: 10 Lakhs - 30 Lakhs
|
SBI Hospital Daily Cash Insurance Policy |
Coverage Benefits
- Convalescence Expenses
- ICU Expenses
- Daily Cash Benefit
Eligibility Criteria
Entry Age: 91 Days - 65 Years
Senior Citizen Health Insurance Plan
|
Arogya Sanjeevani Health Insurance |
Coverage Benefits
- Pre/ Post Hospitalization
- AYUSH Benefits
- Hospitalization Expenses
Eligibility Criteria
Entry Age: 91 Days - 65 Years
Sum Insured: 10 Lakhs - 50 Lakhs
|
SBI Arogya Plus Health Insurance |
Coverage Benefits
- Domiciliary hospitalisation
- Nursing Expenses
- Pre/ Post Hospitalization
Eligibility Criteria
Entry Age: 3 months - 65 Years
Sum Insured: 1 Lakh - 3 Lakhs
|
SBI Arogya Top up Health Insurance |
Coverage Benefits
- Doctor’s Fee
- Pre/ Post Hospitalization
- Day Care Expenses
Eligibility Criteria
Entry Age: 91 Days - 65 Years
Sum Insured: 1 Lakh - 50 Lakhs
Critical Illness Health Insurance Plan
|
SBI Critical Illness Health Insurance |
Coverage Benefits
- Total Blindness
- Coma of Specified Severity
- Open Chest CABG
Eligibility Criteria
Entry Age: 18 Years - 65 Years
Sum Insured: 3 Lakh - 10 Lakhs
|
SBI Hospital Daily Cash Insurance Policy |
Coverage Benefits
- Daily Hospitalization Expenses
- Convalescence Expenses
- ICU Expenses
Eligibility Criteria
Entry Age: 18 Years - 65 Years
SBI Health Insurance Benefits
These days, health insurance is a necessity. Health insurance relieves us from high medical costs as we succumb to more severe health issues and assures us to live stress-free lives.
Benefit of Free Health Check-up
You receive a free medical examination when you buy SBI medical insurance plan. Remember that the benefit is given every four years of uninterrupted insurance with no claims. The insurer either arranges for the insured to receive a free health examination at a partnered diagnostic facility or reimburses them for their expenses.
Cashless Benefit
The benefit of cashless claims is offered by SBI General health insurance plans. Due to this benefit, policyholders can submit claims without using cash and can avoid worrying about mounting medical bills in case of an emergency. The cashless benefit is nothing less than a blessing because it dramatically reduces financial stress. It should be noted that policyholders can receive medical bill reimbursement in addition to cashless payment when receiving treatment at a non-network hospital.
Tax Benefit
Under Section 80D of the Income Tax Act of 1961, premiums paid for SBI General health insurance plans are deductible.
Medical Expenses Coverage
SBI medical insurance plans offer thorough protection for a single person or an entire family. By purchasing an SBI Health Insurance plan, you can be sure that a wide range of medical costs, including inpatient care, pre-hospitalization, post-hospitalization, day care treatments, etc., will be covered.
SBI Health Insurance Exclusions
Here are some of the significant exclusions under SBI health insurance:
- Treatment outside India
- War and war-like situations
- Refractive error
- Breach of Law
- Cosmetic treatment expenses are one of the most common health insurance exclusions.
- Expenses related to surgical treatments
- Change-of-Gender treatments
SBI Health Insurance Buying Process
The buying process for SBI Health Insurance is easy. Let's start by examining the online SBI Health Insurance purchase process.
Buy from "RenewBuy.com"
- Go to the official site of "RenewBuy".
- Choose the "Health Insurance Plan" tab.
- Select the desired health insurance policy.
- Fill in all the required details.
- Tap on "Buy Now".
- Proceed with the payment.
Buy From the Official Website of SBI Health Insurance
- You can browse and compare all of the options based on your premium, coverage type, etc., on the official website.
- After reducing your options, you must pick the best health insurance plan.
- You must submit identification documents and other forms of identification when applying for health insurance online. This is a crucial step that needs to be taken carefully.
- Examine the policy for exclusions and riders. Take down important information such as the premium, total coverage, waiting period, claim settlement process, etc.
- You can pay using one of the numerous online payment methods after you've chosen your plan and the amount covered.
Why Buy SBI Health Policies From RenewBuy?
RenewBuy has the most affordable Birla Insurance plans on the market. The following are the primary reasons why you should think about us:
- IRDAI Certified
- Get Insured by top insurers
- Lower Premiums
- Compare Various Health Policies online
- Simple & Easy Buying Process
- 24x7 Claim Assistance
SBI Health Insurance Renewal Process
SBI Health Insurance makes it simple to renew your health insurance. Insureds can renew their SBI health insurance by following the procedures listed below or by contacting our POSP consultants.
- Visit the official website of "SBI Health Insurance".
- Click on the “Renewal” tab.
- Enter your current health insurance information, such as birthdate and policy number.
- Click on the ‘Renew' tab.
- You can renew your SBI health insurance coverage and pay your premiums online.
SBI Health Insurance Claim Process
The claim procedure is straightforward and painless. To make things easier, we have made the entire process available to you.
Cashless Claim
Under the cashless claim process, the customer calls the SBIG health call center. Once you have placed the call, the customer executive will inform the nearest network hospital. Post that, the approval will be sent to ensure that treatment will be valid and patient pays the non medical expenses. At the end, the hospital will send the documents and bills to SBIG and the company will make the payment.
Reimbursement Claim
The reimbursement claim procedure for SBI health insurance plans is simple and straightforward, as follows:
- Inform the company 48 hours after an unexpected hospitalisation or three days before an emergency hospitalisation.
- Submit all required paperwork.
- File your health insurance claim and receive payment.
Documents Required for the Claim
Unexpected medical emergencies only have medical insurance plans as a cost-effective solution to handle them. However, you can only get help for such emergencies if you submit a reimbursement claim or visit a nearby network hospital.
In health insurance plans, the following paperwork is needed to submit a claim:
- Claim Form
- Medical Investigation Report
- Discharge Card
- Copies of Health Insurance Plans
- Doctor’s bill
- Any other for required by TPA
SBI Health Insurance Contact Details
If you have any questions or concerns about your health insurance polocy, please contact SBI Health Insurance using the information provided below.
Office Address: 9th Floor, Westport, Pan Card Club Road, Baner, Pune, Maharashtra – 411 045.
Email Address: sbig.health@sbigeneral.in
Contact Information: 1800 210 3366 / 1800 210 6366