SBI General Insurance Company Limited

1777

10 min read

Updated on Sep 26, 2022

About SBI General Insurance Company

SBI General Insurance Company was founded in 2009 but after going into a joint venture with State Bank of India started its operation in 2009. SBI is the largest stakeholder of the company owning 70% of its share. Other major stakeholders were Axis Asset Management Company and Premji Invest. As of 31st March 2021, SBI General Insurance holds 12th position in the overall market

Products and services offered by the company covers a wide range in the retail and commercial area. In the commercial area, it covers construction, liability insurance, fire, marine, and aviation while it offers motor, travel, health, home insurance and personal accident in the retail area.

Key Highlights of SBI General Insurance Company

Some key highlights of the companies are as follows: 

No. Of Customers More than 6.8 Crore
Branches Over 22000 across India
Hospitals Network 6000 plus
Claims Approved Over Rs.11,000 crore
No. Of Employees 21000+ employees
Gross Direct Premium Rs.8,312 crore in FY 2020-21

View Health Insurance Plans

SBI General Insurance Awards and Achievements

In its journey of years to become the best insurance provider and in its mission to become a one-step solution for all the insurance needs of individuals and corporate, SBI General Insurance has achieved various awards and accolades. Some of them are highlighted as follows:

  • SBI General Insurance bags ET Best BSFI Brands Award in the year 2016 and 2018.
  • SBI General Insurance also bags Bancassurance Leader in the 7th Edition of Insurance award.
  • In the month of March 2014, SBI General Insurance was certified with ISO 27001:2013 for the best Information Security Practices.
  • Great Place to Work Institute, India certified SBI General Insurance as a Great place to Work in 2017.

Features of SBI General health insurance plans

SBI General health insurance plans offer a range of coverage benefits. Some of the most common coverage benefits include the following –

Benefits  Description 
Inpatient hospitalization If you are admitted to a hospital and your stay exceeds 24 hours, the costs would be covered under the plan. You get coverage for room rent, nursing charges, doctor’s fee, medicine, blood, oxygen, etc.
Pre hospitalization expenses If you incur medical costs before you are hospitalized, such costs would be covered by the policy.
Post hospitalization expenses If you incur medical costs after being discharged from the hospital, such costs would be covered by the policy
Ambulance cover If you hire an ambulance for hospitalization, the cost of the ambulance would be covered up to specified limits
Daycare cover If you are hospitalized for treatments that do not require 24-hour hospitalization, such treatments would be covered under this benefit
Organ donor cover If a donor is being hospitalized for donating his/her organ to you, the cost of the donor’s hospitalization and organ harvesting surgery would be covered
Domiciliary hospitalization If you seek home hospitalization because you cannot be shifted to a hospital or because there are no hospital beds, it would be called domiciliary hospitalization. Such a hospitalization would be covered under the plan
No claim bonus SBI General health insurance plans treat you if you do not claim in a policy year. You are rewarded with a no claim bonus which either enhances your sum insured by a specific percentage or allows a premium discount on renewal
Health check-ups You can also avail of free health check-ups under SBI General health insurance plans. This check-up is allowed at specified intervals that help you to monitor and track your health

 

Exclusions under SBI General health insurance plans

There are some instances wherein your SBI General health insurance policy does not pay the claim. These instances are called policy exclusions. The exact exclusions depend on the policy that you buy. However, some of the common coverage exclusions applicable under most plans are as follows –

  • Pre-existing conditions and their medical complications are not covered during the specified pre-existing waiting period
  • Specific illnesses and treatments are not covered during their specified waiting period
  • Illnesses that occur within the first 30 days of buying the policy are not covered
  • If you undergo cosmetic treatments or medically unnecessary treatments, the cost of such treatments would not be paid
  • Sexually transmitted and other venereal diseases are excluded from coverage
  • Treatments taken through unproven or unscientific processes are not covered
  • Rest, cure and rehabilitation related expenses are not covered
  • Self-inflicted injuries, criminal activities, adventure sports, hazardous activities, etc. are not covered
  • Claims due to alcohol or drug addiction are not paid by the plan

Health insurance plans offered by SBI General Insurance Company 

1. Arogya Plus

A basic health insurance scheme, Arogya Plus offers you attractive coverage benefits at affordable rates. Here are the salient features of the policy –

  • Hassle-free purchases

Buy the policy without undergoing any health check-ups if you are aged up to 55 years. This ensures a hassle-free purchase and an instant cover.

  • Coverage for OPD expenses, including maternity

The policy allows coverage for expenses incurred on an outpatient basis, i.e. when you are not hospitalized. Maternity related expenses incurred on an OPD basis are also included.

  • Coverage for HIV and AIDS

HIV and AIDS are covered and that too the coverage is up to the sum insured. 

  • Advanced treatments cover

Get the benefit of advanced medical treatments without worrying about the costs. Get covered for 12 such treatments for up to 50% of the sum insured.

  • Cover for genetic and congenital disorders

The plan offers unique coverage for genetic disorders and internal congenital illnesses. Coverage for genetic disorders is available for up to Rs.50,000 while congenital illnesses are covered up to 10% of the sum insured.

Eligibility conditions

Entry age  3 months to 65 years
Sum insured  Rs.1 lakh to Rs.3 lakhs
Policy term 1 year to 3 years
Pre-existing waiting period 48 months

 

2. Arogya Supreme

Arogya Supreme provides a comprehensive scope of coverage so that most of your medical costs get covered under the policy. Some of the plan’s highlights are as follows –

  • Get covered for bariatric surgeries

If you are an adult and are prescribed bariatric surgery for morbidly obese conditions, the cost of the surgery would be covered by the policy.

  • Emergency ambulance assist

Medical emergencies can require additional assistance. That is why the policy allows coverage for domestic ambulances, including air ambulances, for transporting you to a suitable hospital.

  • Recovery benefit for long-term hospitalization

If you are hospitalized and your hospitalization exceeds 10 days, you get a lump sum recovery benefit over and above the claim paid under the policy.

  • Sum insured refill benefit

The plan understands that you might suffer multiple claims during the policy tenure. That is why, to provide adequate coverage, the sum insured refill benefit is allowed. Your sum insured is refilled by 100% if the existing coverage has been exhausted on a previous claim.

  • Free e-opinion

You can avail of a free online consultation with the company’s panel of medical experts in the case of severe medical conditions. 

  • Coverage for compassionate visits

If you are hospitalized away from home and your hospitalization exceeds 5 days, the return airfare of an immediate family member would be covered by the policy.

  • Range of optional coverage benefits

SBI Arogya Supreme offers you a range of optional coverage benefits that you can choose to enhance the scope of the policy.

Eligibility conditions

Sum insured  Rs.3 lakhs to Rs.25 lakhs
Policy term 1 year to 3 years
Pre-existing waiting period 48 months

 

How to buy SBI General Insurance Plan?

PayBima is an online platform where you can get a lot of insurance-related services. Anyone can visit www.PayBima.com and buy the desired SBI General insurance plan in a hassle-free and easy manner. The process to be followed is discussed below:

  • Select your plan online 

Go to PayBima.com and find suitable insurance plans from the options available. 

  • Calculate premium by providing relevant details

Provide the relevant details asked in the form. These details include personal, medical and coverage related details like name, medical history, age, gender, eligibility conditions, lifestyle habits, locations, number of dependents and the desired sum assured in the plan etc. Also, provide your contact details to enable PayBima for personalized consultations to guide you to buy the most suitable health plan in a hassle-free manner.  

  • Compare the plans

You can find a range of policies on PayBima. Compare the policies based on their coverage benefits and premium. Choose a suitable plan based on your coverage needs. 

  • Fill proposal form

As you decided the plan and policy as per your requirements, the proposal form should be filled correctly and completely with all the complete details as per the requirement of the policy. Fill the form correctly for ease in the settlement of the claim. After filling the form sign and submit it.

  • Premium payment and policy issuance

After completing the entire formalities, pay the premium. You can pay the premium online through different modes. The policy would be issued instantly once the premium is paid. In some cases, there might be a pre-entrance health check-up depending on the policy and your medical history. 

  • Pre-entrance health check-ups

Depending on your age, sum insured and medical history, the insurer might ask you to undergo a pre-entrance health check-up. Undertake the check-up at the insurer’s networked hospital. Based on the results, the policy would be issued.

SBI General Insurance plan renewal

Buying, as well as renewal of the selected policy, can be done online through PayBima. At PayBima the renewal facility is very easy. Any policyholder can smoothly renew their policy online without any hassle. It is always recommended to renew your SBI General health plan within the due date. You can enjoy uninterrupted benefits and non-stop coverage. 

By providing the policy number online renewal can be done easily. Any changes if required in the policy or policy details can also be done while renewing the policy. Various types of riders are available which can be chosen to enhance the coverage of your plan. As soon you pay the premium online for the renewal of the policy, your policy will be renewed and renewed policy bond will be generated instantly. For any assistance to renew SBI General insurance policy, you can contact PayBima through call at 1800 267 67 67 or drop an email at paybima.care@mahindra.com

SBI General Insurance plan claim process

The claim process of the SBI General insurance policy is simple. You can also get the claim settled through PayBima. The process is discussed as follows: 

  • Network Hospitals

With more than 6000 Network hospitals, you can opt for cashless claims. Locate a networked hospital either through the company website or by contacting PayBima. Get admitted to the hospital for cashless claims.

  • Informing the company

Inform the insurer of the claim to get your claim registered. This would also help you avail of approval for the cashless claim at the earliest.

  • Submit pre-authorization claim form

To avail of the cashless benefit, you have to submit a pre-authorisation claim form. The form is available both at the insurer’s website and at the hospital desk. Fill the form and submit it either 3-4 days before a planned hospitalisation or 24 hours within an emergency admission.

  • Get approval from the company for a cashless claim

After proper verification and certification of the pre-authorization form, the insurer would approve the cashless claim. If the cashless approval is not received, you can also file for a reimbursement claim.

  • Getting the treatment

After getting approval for the claim, cashless treatments would be provided by the hospital. The hospital bills would be directly settled by the insurer.

  • Reimbursement claims

In non-network hospitals, you would not get cashless approvals. Moreover, in some cases, cashless approvals might also not be available in all cases. In such cases, you can file for a reimbursement claim. Pay your hospital bills and get discharged. After discharge submits the claim form and the medical bills to the insurer. The company would verify the documents and reimburse the amount incurred.

You can contact PayBima for easy claim settlement. You can either dial 1800 267 67 67 or mail us at paybima.care@mahindra.comand we would gladly help you with your claim settlement. 

They are certain documents that are required to be submitted along with the claim form for the successful settlement of your claim. The documents include the following: 

  • ID proof of the insured individual
  • Pre-authorisation claim form
  • Bank details of the insured to make the payment of reimbursement claim
  • Original bills and receipts
  • Original Company bills and reports
  • Policy Papers of the insurance.
  • Consultation notes

SBI General Insurance Company Review

SBI General Insurance plans cover a wide range of products in various fields and at competitive prices. Other highlights are as follows: 

  • SBI General Insurance helps customers get everything under one umbrella.
  • By providing services in connection with 1MG and FITTERNITY, it helps its customers with proper medication, nutrition and fitness support. They also started counselling for mental wellness
  • SBI General Insurance company offers different types of premium discounts which helps the customer to save a good amount of money

Popular Health Insurance Companies in India

Health Insurers in India
Universal Sompo General Insurance Company Limited Future Generali India Insurance Company Limited
Bajaj Allianz General Insurance Company Limited HDFC Ergo General Insurance Company Limited
Care Health Insurance Company Limited ICICI Lombard General Insurance Company Limited
Chola MS General Insurance Company Limited Manipal Cigna Health Insurance Company Limited
Niva Bupa Health Insurance Company Limited Royal Sundaram General Insurance Company Limited
Aditya Birla Health Insurance Company Limited Tata AIG General Insurance Company Limited

Frequently Asked Questions

Q: Is there a grace period under SBI General health insurance plans?

Yes, a grace period of 30 days is allowed under SBI General health insurance plans. You can pay the premium within the grace period to continue the renewal benefits.

Q: How many members can be covered under a floater plan?

The family floater policy under Arogya Plus and Arogya Supreme covers a maximum of 2 adults and 2 children.

Q: Are free health check-ups allowed?

Yes, Arogya Supreme allows free annual health check-ups.

Q: Is there a waiting period for the coverage of internal congenital disorders?

Yes, there is a waiting period of 24 months for the coverage of internal congenital disorders. 

Q: Do I get any discounts?

The discounts depend on the policy that you have selected. For instance, Arogya Supreme offers multiple discounts like family discounts, loyalty discounts and long-term policy discounts. So, check the discounts when you buy the plan. 

Jan 17, 2022
SHARE THIS ON
Author Bio
Author Image

PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

Related Blogs

Would love to hear from you

Share your candid feedback. Your email address won’t be published, we promise!

All fields are required

Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.

Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).

Insurance is the subject matter of solicitation.

For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.

Copyright © 2022 Mahindra Insurance Brokers. All Right Reserved.

Get A Call Back
Get A Call Back