To get a better picture of SBI Health insurance, first evaluate How SBI general insurance company was constituted? All of you must be aware of State Bank of India which is an indigenous financial powerhouse offering banking services throughout the country. SBI in joint collaboration with Insurance Australia Group (IAG) has given birth to SBI General Insurance Company.
Now we come to “What is SBI Health Insurance” and “What are the major benefits policyholders receive after purchasing SBI plans”.
SBI Health insurance company is rich in number of health plans that offer medical expenses related to minor illness to severe diseases at affordable rates of premium. In simple common man term, SBI Health insurance is like an umbrella that financially protects you from unknown medical events like accidents, injuries, illnesses, or diseases through complete coverage.
Whether it is hospitalization cost for the treatment of illness, or medical expert consultation on a specific illness or ambulance charges for transportation to the nearest hospital, or simply a medical examination of health, all the expenses are covered in the health insurance plans of SBI General insurance. Let’s at some of the advantages that a policyholder can carve out of the plans.
- Cashless treatment for any illness at any nearby hospitals listed in the policy wording. Here, Insured is free from paying any hospitalization bills.
- Expense arising preceding the admission of insured to the hospital, also known as pre-hospitalization expenses.
- Post-hospitalization cost for
- 142 Daycare procedures that includes surgeries related middle ear, eye operations, tonsils, angiography, etc that are completed under a period of 24 hours.
- Tax exemptions under Section 80 D of the Income Tax Act for the premium submitted every year.
- Inpatient hospitalization such as Intensive care unit, anesthesia, blood, oxygen, operation theatre expenses, Drugs, medicines, diagnostic expenses and x-ray, dialysis, chemotherapy, radiotherapy, etc.
- Free Health Checkups from a recognized medical professional or doctor.
- Treatments involving practices of Ayurvedic, Homeopathy or Unani are also covered. The organization must be under the regulation of government or recognized by Quality Council of India.
- Emergency ambulance services for the immediate transfer of the diseased person to the hospital.
- Reload of Sum Insured when all the amount has been used up.
- Maternity expenses and newborn baby expenses.
- Chain of 3000+ hospitals where cashless treatment can be availed
SBI Health Insurance plans possess an abundance of advantages that cannot be told in some words. After gaining information about some common benefits, it is important to know “For whom SBI Health Insurance is suitable”.
Anyone who wants to take coverage for himself alone or want to include his family members in the health plans has the option to choose Individual policy or Family Floater Policy. A policyholder can include spouse, dependent children, parents and parents in law under Family Floater policy. Also, there will be single sum insured for all the family members under one premium.
In individual policies, the policyholders can include their family members which can be spouse, mother, father, father-in-law, and mother-in-law.
Do we need to undergo a medical check-up before purchasing SBI health Insurance? This is the most common question that definitely clicks into the mind of a person.
SBI Health Insurance does not require any evidence of pre-policy medical checkup for the insured below the age of 45 years or 55 years based on the plan chosen. For SBI group health insurance the age must be below 65 years.
What are the other significant benefits encompassed by SBI Health insurance?
Other benefits that include claim settlement ratio, customer satisfaction rate and value of SBI Life health insurance in the market.
Claim Settlement ratio acts as a guide to get a clear picture of the company responsiveness towards each and every claim. SBI maintains a claim settlement ratio of 85% is enough to earn the trust of customers and which higher than IRDA established minimum ratio for claim settlement. Additionally, the claim services of SBI health insurance is quite fasts that quickly processes the claim request and settles the claim payment within a maximum time period of 30 days.
The customer support team of SBI health insurance follow a transparent process to address the grievances of policyholders and handles each case with complete responsibility as reviewed by maximum number policyholders who are holding their policies.