SBI General Insurance Company Limited, a joint venture between the Insurance Australia Group and the State Bank of India, provides a variety of insurance products such as a vehicle, personal accidents, travel, home, fire, marine, and so on. One of their product offers is SBI General Health Insurance.
SBI General Insurance Company Limited began operations in 2010 as a joint venture between the State Bank of India and Insurance Australia Group (IAG). The general insurance firm is presently a joint venture between SBI, Napean Opportunities LLP, Honey Wheat Investment Limited, PI Opportunities Fund-1, and Axis New Opportunities AIF-I following the stake sale of IAG in 2020. In the business market, the insurer provides a comprehensive range of general insurance products such as health, home, travel, vehicle, and personal injury.
SBI offers the following types of health insurance policies:
The following policies are included in the company’s portfolio of health insurance plans:
- Retail Health Insurance Policy from SBI
- Critical Illness Insurance Policy from SBI
- General Group Health Insurance Policy of SBI
- Daily Cash Insurance Policy for SBI Hospital
SBI General Health Insurance Benefits
- Options for Good Coverage: SBI provides a variety of health insurance plans in which the policyholder can select the total covered amount based on his or her needs and budgetary constraints.
- A Wide Range of Plan Add-Ons: SBI Health Insurance provides a variety of add-ons to supplement your basic health insurance. Some of the riders supplied eliminate sub-limits on room rent, ICU costs, consultant fees, operation theatre fees, and so forth.
- Excellent Customer Service: The organization offers 24×7 customer service to address difficulties, answer claim-related questions, and answer other insurance-related questions.
- Simple Plan Purchase and Renewal: By following a few simple steps, it is possible to acquire health insurance and renew policies online without any fuss.
- Free Medical Exam: Following the completion of at least four claim-free years, policyholders are entitled to free health examinations.
Why Purchase SBI General Insurance?
There are several benefits to being protected by a proper health insurance policy provided by SBI General Insurance. The insurance firm is a popular choice for many people for the reasons listed below:
- Over 6,000 Network Hospitals:
SBI Health Insurance is a large network of over 6,000 facilities where you may receive cashless treatment for illnesses, sicknesses, and diseases covered by your health insurance policy. The cashless hospitalization procedure makes it easier for you to deal with the issue in a scheduled or emergency hospitalization.
- Rapid Assistance:
SBI General Insurance provides prompt support for a variety of insurance-related questions, putting clients at rest. On the website, there includes a ‘Quick Assistance’ link where clients may download policies, check claim status, and policy information, and discover network hospitals.
- Numerous Honors and Awards:
SBI General Insurance has received several accolades and recognitions, including the Best E-Magazine Award, ET Best BSFI Brands Award 2018, ISO 27001:2013 certification, and Bancassurance Leader Award.
- “Highest Claim Paying Ability” iAAA Rating:
ICRA has confirmed SBI General Insurance’s iAAA rating, signifying the best claim-paying capabilities. This increases the insurer’s credibility.
- Claim Settlement Process That Is Quick And Transparent:
SBI General Insurance provides a rapid and straightforward claim settlement process. Until far, the business claims to have processed claims totaling more than Rs. 110 billion.
SBI General Insurance’s Key Features
SBI General Insurance distinguishes itself in the market by the following features:
- Renewal of health insurance policies is a simple process.
- The insurer provides coverage for a variety of amount insured choices beginning at Rs. 50,000.
- Cashless therapy is available at over 6,000 network institutions.
- Several health insurance policies provide add-on covers for greater coverage.
- The insurance firm provides a comprehensive range of health insurance products to meet the needs of people, families, older persons, children, and parents.
- Most health insurance policies provided by the insurance provider include free health check-ups.
- SBI General Insurance’s family health insurance policies cover the entire family for a single sum covered.
- Section 80D of the Income Tax Act of 1961 allows for a tax deduction for the premiums paid for various health insurance policies.
Terms and Conditions of SBI Health Insurance Policy
The following terms apply to SBI Health Insurance plans:
|91 days-65 years
|Lifetime renewability offered
|Premiums paid while renewing insurance are liable to change without notice.
|General Waiting Period
|A 30-day waiting period applies beginning on the date the health insurance coverage is issued. Benefits under the policy are only available when the waiting time has passed.
Renewal of SBI Health Insurance
Health insurance renewal is a critical step that needs you to pay the payment once the term of your policy expires. It permits you to keep receiving benefits from your health insurance coverage. When you renew your coverage, you can add extra benefits. SBI Health Insurance allows you to renew your policy online. Follow the procedures below to renew your SBI Health Insurance policy:
- Go to the SBI Health Insurance official website and select the ‘Renew Policy’ link.
- Select the health insurance policy you wish to renew from the drop-down menu in the section for health insurance.
- Enter your Policy Number and press the ‘Get Quote’ button.
- Choose the best quotation from the ones offered on your screen.
- Pay your renewal premium online using any method provided by the insurer.
Process of SBI Health Insurance Claim
You can file claims under your SBI Health Insurance coverage in two ways. These are cashless and reimbursement transactions. Both steps protect you in the event of a scheduled or unplanned hospitalization.
Cashless claim with SBI Health Insurance
Follow the procedures below to lodge a cashless claim under your SBI Health Insurance plans:
- Obtain Hospitalization: Attend a network hospital of your choosing, display your health card at the hospital desk, and notify your insurance. You can notify the insurance by dialing their toll-free number 1800221111. To obtain your claim number, you may also SMS ‘CLAIM’ to 561612 or send an email to firstname.lastname@example.org with your data.
- Fill out the Cashless Claim Request Form: Send the completed cashless claim form to SBI Health Insurance.
- Document Checking: The insurer will verify your paperwork.
- Claim Resolution: If your claim is in conformity with the terms and circumstances of your health insurance policy, the insurer will reimburse the medical expenses at the hospital.
Claim for SBI Health Reimbursement
Follow the procedures below to file a reimbursement claim under your SBI Health Insurance plans:
- Obtain Hospitalization: If it is more convenient for you, get treatment at a non-network hospital. Get the necessary therapy and notify your insurer.
- Pay Bills at the Hospital: Pay the expenses for the hospital care you received.
- Gather Important Documents from the Hospital: Gather any documentation relating to your hospital treatment for the claim processing.
- Claim Resolution: According to the terms and conditions of your health insurance policy, the insurer will compensate you for the expenditures expended on the treatment received.
Documents Required for the Settlement of a Reimbursement Claim
For reimbursement claim settlement under your SBI Health Insurance policy, you must provide the following documents:
- Original medical bills, hospital discharge certificate
- Completed claim form
- Advance and final payments
- Original bills and receipts are required to file a claim for ambulance expenditures.
- Summary of the discharged individual’s medical history