SBI Critical Illness Insurance Plan
Updated On Jul 30, 2021
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Standard health insurance can protect you and your loved ones against the medical expenses incurred in case of an emergency but in the case of critical disorders, a basic health insurance cover cannot suffice the expenses apart from that of the hospitalization. Therefore, to help and support the people suffering from critical diseases, you can invest in critical illness plans offered by various insurers.
SBI health insurance is a product of SBI general insurance and is one of the most promising products of the company. The plans offered by SBI health insurance are affordable and comprehensive. It provides wide coverage to the customers and is one of the trusted names in the market. With its active responses to the customers’ grievances, sustainable business ideas, and innovative insurance solutions, the company continues to provide its quality services to the policyholders.
About SBI Health Insurance
SBI Health Insurance offers effective and affordable policies to its customers and works to accomplish its mission of providing simple and innovative health insurance solutions to its customers. Some of the essential features of SBI Health Insurance company are:
- The company has a network of 6000+ linked hospitals that provides cashless treatment to the customers.
- It offers lifelong renewability of the policies purchased by the customers.
- The company had a claim settlement ratio of 66.08% in FY 2019-20.
- It also offers COVID-19 covers to meet the demands of the policyholder in times of global pandemic.
SBI Critical Illness Health Insurance Policy
SBI Health Insurance provides exclusive critical illness covers to its customers which includes several critical diseases and provides compensation for expenses incurred apart from hospitalization. It includes the doctors’ charges, medical hospitalization, health check-up, recuperation aid, and a lot more. Such plans save the policyholder from spending money from their pocket and instead save it for later. Some of the basic features of SBI Critical Illness Health Insurance plans are:
- It covers around 13 critical illnesses under the plan.
- The maximum age to enter into this plan is 65 years.
- No pre-medical checkup is conducted for applicants below the age of 45 years.
- It offers 2 options in the tenure of the plan which are for 1 and 3 years.
- Sum assured of up to Rs. 50 Lakh is provided to the policyholders.
- It provides a 15 day free-look period to the customers to ensure that the policyholder thoroughly reads the policy-related documents.
- Under Section 80D of the Income Tax Act, the policyholder gets the benefit of tax deduction.
About SBI General Critical Illness Insurance Plan
This policy has been specifically designed to look after the needs of the customers suffering from any of the listed critical diseases under this plan. Irrespective of the actual medical costs, the plan offers a lump sum amount to the policyholders. It covers around 13 life-threatening diseases like kidney failure, heart attack, major organ transplant, coma, cancer, and a lot more. It includes expenses like ambulance charges, medical costs, doctors’ consultation, medicine costs, and other mentioned expenses apart from hospitalization. You can port the insurance cover bought to any other similar policy, if not satisfied with the current services. The company also offers a grace period of 30 days to the customers for the renewal of the purchased critical illness health cover. Major exclusions under this policy for the policyholders are:
- Any congenital disorder
- Pre-existing diseases and related complications
There are various options to choose from within the section of critical illness plans offered by SBI health insurance. To make a smooth and quick claim of the purchased policy, you must carefully read the fine print of the policy-related documents. You can port your policy if you are not satisfied with the services offered under the current policy. The critical illness plan offered by SBI health insurance will give the policyholder a sense of relief and peace, as it looks after the expensive medical treatments.
Also Read: Everything About SBI Health Insurance Plans
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.