Thursday 22 February 2024
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Premiums in SBI Health Insurance

Premiums in SBI Health Insurance

The State Bank of India, more popularly abbreviated as SBI, is one of the premium banks in the country. From financial help, to offering one of the best general and life insurance plans to all its customers through its Life and general insurance companies, this bank has been operational for decades. Among all the general insurances products that this bank has under its umbrella, health insurance is the most renewed. The SBI general insurance’s Health Insurance has a several features that are unique:

  • It brings in a wider coverage for the policyholder. The coverage starts from Rs. 50,000 and goes up to Rs. 5,00,000
  • It brings in the benefit of family floater which offers complete protection to the individual policyholder as well as the immediate family members
  • SBI does not ask for any medical tests for up to 45 years unless the policyholder has any medical history
  • You can choose to renew the health insurance as per your need
  • The premiums are eligible for tax deductions, as per the Tax Act, Section 80 (D) of the Income Tax Act, 1961.

The premiums of the SBI Health Insurance are based on the health insurance package/plan that you choose. The State Bank of India has three plans in general:

  • Plan A: This plan has 100% admissibility in locations including Mumbai, Delhi, Ahmedabad, Bangalore, Hyderabad, Chennai, Kolkata and the rest of the country.
  • Plan B: This plan has 100% admissibility in metropolitan cities including Chennai, Kolkata, Hyderabad, Bangalore, Ahmedabad and the rest of the world. It has 80% admissibility in Delhi and Mumbai.
  • Plan C: This plan has admissibility in the rest of India, excluding the top metropolitan cities. It has 80% admissibility in Chennai, Kolkata, Hyderabad, Bangalore and Ahmedabad. The admissibility is only 70% in Mumbai and Delhi.

Note: These percentages are based on the claim amount and the premiums and thus, largely depend on the plan. The claims will be made by the bank only after proper verification of documents and bills submitted by the policyholder.

How to Buy SBI Health Insurance Policies?

If you have decided to purchase an SBI Health insurance policy, then firstly, it is a great choice. These plans have a low rate of premium with high benefits. You can reach out to the insurer at any time during the operating hours and they will be able to help you with the best plan, based on your requirements and financial credibility.

You can choose a health insurance from the wide list of SBI general insurance branches. Also, you have two ways to buy the SBI Health Insurance policy:

Online Mode:

The official website of the State Bank of India is well established in terms of plans, policies and steps of registering online for a health insurance. If your work schedule does not allow you to take time out to go to the bank, then just log on to their website and fill up their application form. Before you can do that, also have a look at their product brochure, select the one that you wish to opt for and then fill out the form accordingly.

In person purchase of SBI Health insurance

If you wish to follow the traditional  way of buying health insurance, then you can go to the branch office meet the in-charge for health insurance and then follow the given process. The executives are experts in this field and will be able to show the right path. As a matter of fact, they will be even able to come down to your house and collect the documents as per your convenience.

Modes of Payment – SBI Health Insurance

Having done research on the health insurance types and the premiums that you need to pay for each of them, what are you waiting for? Select the best health insurance that suits your requirement and get going. Once you sign up and make the first payment, the insurance plan gets activated and you just need to pay the premiums on the stipulated time. What is the mode of payment for the SBI health insurance?

Just as the two modes of purchasing health insurance, you have two modes of payment as well:

In person

You can walk into any State Bank of India general insurance branch and make the payment through cash or cheque. The branch executive will verify the authenticity and accept the payment. Once you make this payment, you will be given a receipt.

Online payment mode

The second type of payment is online. You can just go online and make payments through a secure gateway. You can log on online and make the payment through your debit card, credit card or net banking.

‘Health is wealth’. So get going, and purchase SBI Health insurance for yourself and the family today!