If you’re looking for an affordable, dependable health insurance policy, SBI is worth your consideration. It offers a wide variety of options and you don’t have to worry about being rejected due to pre-existing conditions. That’s because it covers all phases of care, including mental illnesses and maternity. Its support services are available 24/7 and it helps you find the right plan for your family.
What is SBI Health Insurance?
SBI Health Insurance is available for employees of private organisations, including companies. It offers a wide range of benefits to help employees manage the risks associated with their disease and disability – from lifestyle benefits such as gym membership and physiotherapy to healthcare costs. You can also choose an optional cover which will provide you with a lump sum payment should illness or injury render you unfit for work.
Where is it available?
SBI health insurance is offered through the SBI Group of private companies. You will find SBI health insurance cover provided by a number of organisations, including banks and telecom companies. The cover offered by these organisations will often be similar to that provided by the Group’s insurers.
How does it work?
SBI health insurance works in three stages. The first stage is the assessment of your individual needs and risk profile. If you have pre-existing conditions, SBI health insurance won’t reject you, but it will charge a higher premium. That’s why it’s important to be honest about your health before you sign up with an insurer.
The second stage is the provision of preventative care, including vaccinations and vaccinations. Once your health profile is established, you will receive regular screening for any possible risks.
The third and final stage is the payment of claims. Reimbursement of healthcare costs is dependent upon your policy’s tier; however, all tiers provide a minimum amount that will be paid out in the event of a claim.
The following are some of the benefits that you can expect to receive under SBI health insurance:
- Lump sum payment in case of a disease or injury making you unfit for work. The amount of this payout is determined by the policy which you choose. This can be another benefit offered under the optional cover section.
- Medical care including hospitalisation, treatment, and diagnostic tests. This medical care includes all types of medical treatment, from basic check-ups to complex surgical and dermatological procedures.
- Medical expenses for you, your spouse and children for the duration of the policy that you choose. This cover is only available if you opt for an optional cover option.
- Accidents and illnesses. Accidents include any incident outside the workplace that causes injury or which may result in death. Illnesses are also covered as they can lead to a disease or injury in the future.
- Minor illnesses and accidents. These are illnesses that do not have a high probability of leading to complications. For example, the common cold and flu.
- Rehabilitation treatment. This covers treatment for diseases such as alcoholism and drug addiction, as well as physical disabilities or disabilities caused by injury (disability cover).
Benefits offered under an optional cover option include:
- Death in the family. This can be another benefit offered under the optional cover option. It will provide a lump sum payment to your beneficiaries in case of a death occurring within the policy period.
- Accidental death benefit. This benefit is for your spouse and children if you die as a result of an accident, either at work or outside the workplace.
- Disability cover. This is for your spouse and children if you are rendered unfit for work as a result of an injury or illness. It provides a lump sum payment in order to protect their livelihood.
SBI health insurance has various optional cover options which you may choose from based on your needs and lifestyle. Each cover option contains a different set of benefits, which offer you a selection of financial protection and medical assistance.
What are the categories?
SBI health insurance has two main categories:
- Basic category: This covers the medical and hospitalisation expenses, as well as medication costs. It also covers diagnosis and tests that are not paid by other insurance packages, including acupuncture. The medical treatment will be provided by SBI health insurance’s contracted clinics, and the hospitalisation expenses will be paid directly to the hospitals which you choose.
- Optional category: The purpose of this provision is to help those who are eligible for the basic category. It provides financial assistance in case a major illness or accident renders you unfit for work. You can choose between three types – routine cover, life cover, and accidental death cover. After having opted for this option, you will be given a priority list that will allow you to receive treatments in hospitals you have chosen.
The basic and optional categories can be combined into one package to suit your needs and budget.
Which is the best category?
The best option will depend on your requirements. If you have a family, then you need to consider the family coverage category. it will provide financial and medical assistance should something happen to you or your spouse or any member of your family.
Qualities and levels of cover
There are five levels of cover available:
- Basic – Provides basic medical care for illnesses or injuries. You can choose between the basic and low cost options.
- Low cost – Provides additional medical treatment when prescribed by a doctor based on your serious illness. You can choose between the basic and low cost options.
- High cost – Provides top-tier medical treatment based on your serious illness. You can choose between the basic and high cost options.
- Lifetime cover – The highest level of cover available. This provides total payment even if you are diagnosed with an incurable disease. You can choose between the basic, low cost and high cost options.
- SBI Premier – The only cover which is available for members of the Group’s Group Provident Fund (GPF) scheme. This provides basic medical care for illnesses or injuries. It also includes treatment from the GPF doctors and transport to top-tier hospitals. You can choose between the basic, low cost and high cost options.
Depending on your needs and lifestyle, you may decide to opt for more than one cover option.
SBI health insurance is the best option for you if you are in the middle of your career and are looking forward to a comfortable future. If you’re already involved in the healthcare sector, then an SBI health insurance policy would be a good choice for you as well. The basic and optional categories can be combined into one package, which will help accommodate all your needs and requirements. It offers financial protection and medical assistance for life, which includes burial expenses should something happen to you.