SBI General Critical Illness Plan

Imagine a situation, where anyone of your family members is diagnosed with a life-threatening disease, the world might shatter for you for a while when you will realize that your health insurance policy will cover only the hospitalization expenses.  Mentally broke and financially distressed you will be in a fix.  Why repent later, and risk the health of your loved ones when you can safeguard them with a critical illness policy. Your insurer will provide you a lump sum amount as per the amount specified in the insurance policy.  

SBI critical illness insurance policy offers protection against thirteen most crucial critical illnesses. Wishing health and happiness to your family with the following benefits-

Key Features of SBI Critical Illness Insurance Plan

• Reimburses for 13 most critical illnesses
• Maximum age limit is 65 years and the minimum is 18 years
• 1 year and 3-year plan options
• Up to 50 lakhs sum assured limit
• 15 days of free look period available
• Tax saving under Sec 80 D of Income Tax Act

Inclusions of SBI Critical Illness Insurance Plan

All the inclusions are subjected to a survival period of 28 days.

• Cancer
• Paralysis
• Kidney failure
• Coma
• Total Blindness
• Stroke
• Primary Pulmonary Arterial Hypertension
• Coronary artery bypass grafts
• Multiple Sclerosis
• Myocardial Infarction (First Heart Attack)
• Heart Valve Surgery
• Aorta Graft Surgery
• Organ Transplant

The above inclusions are subjected to a minimum assessment period of 28 days to 180 days.

You can only file a single critical illness claim during your lifetime. The policy shall terminate immediately on the payment is made for one critical illness during the policy term. The maximum sum insured amount under Critical Illness is 50 lakhs for an individual (subjected to policy terms and conditions).

Exclusions of SBI Critical Illness Insurance Plan

• Any disease that is diagnosed during the first 30 days from the date of policy purchase
• A waiting period of 90 days from the date of commencement of the policy
• Any alternative treatment like naturopathy, aromatherapy, acupuncture, homeopathic, Ayurveda, reflexology, and osteopath.
• Pregnancy treatment or complications like abortion, miscarriage, childbirth, or any prenatal and postnatal treatment
• Any type of congenital diseases that are diagnosed during or before the policy period
• AIDS/HIV and other sexually transmitted diseases.
• Self-inflicted injuries and conditions of depression and mental disorders
• Health treatment for drug intoxication and an overdose of alcohol consumption

Sum Assured (Rs.)

• Minimum is 2 lakhs
• Maximum is 50 lakhs

SBI Critical Illness Insurance Plan Options

SBI critical illness plan comes in two variants. You can opt for:

• 1 year Plan
• 3 year Plan

Note - The policy terminates immediately on the payment of first Critical Illness benefit.

The minimum coverage available under this plan is for Rs. 2 lakhs and the maximum is for Rs. 50 lakhs and it is subjected to the following terms and conditions:

• If the proposer is the earning member of the family then the maximum sum insured shall be limited to 60 months gross income for the policyholder or a maximum of Rs. 50 lakhs. You would need to showcase your income proof, as the case may be.
• In the insured is non-earning then the sum insured shall be restricted to 50 percent of the sum insured up to a maximum of 10 lakh rupees ( based on the proposer’s income).
• Depending on your medical history, age, and sum insured chosen, you may have to undergo a pre-medical screening. For applicants who are above 45 years of age, the policy issuance is subjected to a satisfactory medical examination as per the insurer’s requirements, and this is irrespective of sum insured chosen.
• The cost of pre-medical check-ups shall be borne by the proposer. But, if the proposal is accepted the insurance company will recompense 50 percent of the cost incurred on the medical tests (as required by the insurer).
• The maximum amount of sum insured is kept at Rs. 15 lakhs for insured members above 60 years of age and above (who are purchasing the policy for the first time).