SBI Arogya Sanjeevani Group Product: An Overview

SBI Arogya Sanjeevani Group Product is designed for individual and family members. The insured can choose the premium amount, premium mode and other policy benefits as applicable. The policy covers various medical expenses, including critical illnesses. Where the policy covers the medical expenses, it will not offer any income payout. As the policy tenure completes, the policyholder can enhance the amount of sum insured by availing annual bonuses, provided zero claims have been made during the period as applicable.

Eligibility Criteria

In order to buy this policy, the minimum eligibility conditions have to be fulfilled:

Type

Individual and Family Floater

Minimum Entry Age

18 years (3 months for dependent children)

Maximum Entry Age

65 years (25 years for dependent children)

Number of people covered

 Individual, Spouse, Dependent Children, Parents, Parents-in-law.

 Maximum 4 adults,

 Maximum 3 children

Residential Status

Indian as applicable by the Laws of Republic of India

Coverage Offered

SBI Arogya Sanjeevani Group Product Insurance Policy applies to both individuals and family members. It allows insuring a sum of a minimum of Rs 1 lakhs and a maximum of Rs 5 lakhs. If interested individuals want to buy the policy, they will get the following coverage.

  • In-Patient Treatment: SBI Arogya Sanjeevani Group ProductHealth Insurance covers in-patient expenses of insured individuals like, ICU expenses, Staff cost, medical equipment cost, facility rent and other costs.
  • Pre Hospitalization Cover: The policyholders get coverage for 30 days of the pre-hospitalization period if the patient is hospitalized as per the policy norms.
  • Post Hospitalization Cover: The policyholders get 60 days post-hospitalization cover starting from the day of discharging from the hospital in case of hospitalizing for more than 24 hours.
  • AYUSH Treatment: SBI Arogya Sanjeevani Group ProductInsurance Policy covers expenses related to alternative treatments such as Ayurveda, Homeopathy, Unani, Siddha and others.
  • Modern Medical Treatment: The policyholders will get expense coverage if they undergo some listed current medications such as Oral Chemotherapy, INOM, Stem cell therapy etc., as per listed conditions and copayments.
  • Domiciliary Hospitalization Cover: The policy covers expenses related to domiciliary hospitalization and OPD treatment.

Inclusions of the Policy

Apart from the aforementioned coverage, the policy also covers the following:

  • Ambulance Charges: The policyholders will get coverage for ambulance expenses up to Rs 2,000 per hospitalization during the policy period.
  • Hospitalization Expenses: The insured individuals will get coverage for up to Rs 5,000 per day or 2% of the sum insured for room rent, boarding or nursing expenses as applicable.
  • Cataract Treatment: SBI Arogya Sanjeevani Group ProductHealth Insurance will cover expenses up to the amount 25% of the sum insured or Rs. 40,000 per eye as applicable.
  • ICU Expenses: The policy will cover up to 5% of the sum insured or a maximum of Rs 10,000 per day as applicable.

Exclusions of the Policy

SBI Arogya Sanjeevani Group Product Insurance Policy will exclude coverage in the following cases.

  • The expenses related to diagnostic investigations
  • The injury occurred due to war, nuclear weapons, adventure sports, self-injury etc.
  • The illness due to drug addiction, unproven treatments, un-prescribed medication etc.
  • OPD treatment
  • Treatment taken outside of India.
  • Treatment for Obesity, genetic disorders, or cosmetic surgery etc.

*Refer to the policy document for a complete list of exclusions.

Features & Benefits of the SBI Arogya Sanjeevani Group Health Insurance

  • SBI Arogya Sanjeevani Group Health Insuranceallows insuring a maximum of Rs 1 lakh and a minimum of Rs 5 lakhs.
  • It allows paying premiums through monthly, quarterly, half-yearly or annual mode.
  • No health check-ups for insured up to 45 years of age or for pre-existent diseases.
  • SBI Arogya Sanjeevani Group ProductHealth Insurance has a lifelong renewal facility.
  • The policy offers tax benefits as per Section 80D of the Income Tax Act 1961.

Information on Cancellation of the Policy

The insured individuals can cancel the policy any time after giving 15-days' notice. In that case, they can expect a refund of up to 75% if no claim is made during the applicable policy years.

The insurer can cancel the policy by putting 15-days' notice in any fraud, representation or unlawful act. In such cases, the policyholders will get any refunds.

FAQs

Written By: PolicyBazaar - Updated: 26 February 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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