SBI Arogya Sanjeevani Policy Health Insurance
About the SBI Arogya Sanjeevani Policy Health Insurance
You must have heard the age-old adage that “Health is Wealth.” Let us think, what will be the use of money if a person is not fit to take advantage of the same. Protecting your health shall always remain the top-most priority. In these changing times, people have switched their choices too. Bad over good, junk over healthy, and luxury over necessities. This change of mind has affected one’s body and lifestyle negatively. The lifestyle maintained by every individual today is considered to be of high standards although the food choices made are not good for one’s health that leads to lower immunity. Most diseases arise if a person does not have a good enough immune system.
The diseases that may arise in the future can be treated as there has been a rapid development in the fields of science and technology. However, it will come at a much heftier price. You need to understand that the cure comes at a price that may not be affordable for everyone. To protect oneself from hefty expenses, a new instrument such as health insurance was introduced in the market. Insurance products help you to pay off the treatment expenses by providing the necessary financial support. Falling prey to diseases is a very delicate time, and one shall not need to worry about money at such an hour.
One of the leading insurance providers having a genuine product for such needs is SBI General Insurance Company.
The SBI General Insurance Company began its operations in the year 2010. The formation of the company was a joint venture between the State Bank of India and Insurance Australia Group (IAG). In the year 2020, IAG sold its stake in SBI General Insurance. The insurance market has been flooded with various policies that can be purchased by individuals, and health insurance is one of the most promising sectors has made SBI launch its policies.
The SBI General Insurance Company offers a variety of policies that begin with motor, health, personal accident, home, travel insurance, and more. The products offered above are available in the retail space as well as commercial areas. The prices offered by SBI General Insurance are affordable and accessible to individuals and business people too.
One of the most comprehensive health insurances provided by SBI General Insurance Company is the SBI Arogya Sanjeevani Policy Health Insurance. Let us understand the details about the said plan.
The SBI Arogya Sanjeevani policy is a comprehensive health insurance plan that is launched by SBI General Insurance Company. The plan provides necessary financial security to individuals as well as a family under its coverage. The different people that can apply for this insurance policy are – individuals, spouses, children, parents as well as an in-law. This shows that the policy is considerate and agrees to cover parties of different identities.
The policy can be applied by adults between the age group 18 to 65 years. Children of the age group between 3 months and 25 years can be included. The range of sum insured provided under the plan varies between Rs.1 lakh up to Rs.5 lakhs. The Arogya Sanjeevani plan also covers various expenses that may arise due to Covid-19 hospitalization. The plan is offered for making health insurance affordable and accessible for people belonging to different backgrounds. You can easily opt for the SBI Arogya Sanjeevani Policy Health Insurance Plan as their office is available in more than 125+ locations all over India. You can enjoy the tax benefits offered on the subscription of this policy under section 80D of the Income Tax Act, 1961.
The SBI Arogya Sanjeevani Policy Health Insurance can be availed by residents of India and Non-resident Indians. The policy is available for individuals as well as family floaters. The maximum number of people covered under this plan is eight.
- Hospitalization expenses: The expenses incurred by an individual for getting themselves treated is covered under hospitalization costs. You can either opt for cashless or reimbursement methods. If you have obtained admission in a hospital that is under the insurance company’s network then you can opt for a cashless method. The method opted for depends on the hospital you have taken admission in.
- Pre- and post-hospitalization costs: The various tests incurred by a doctor before beginning the actual treatment of the said person, the costs of such reports are covered under pre-hospitalization costs. The undergoing of such tests is important as it helps the doctor choose the best treatment method available. Under post-hospitalization expenses, after-treatment check-ups and medicines are covered. Post-hospitalization expenses are covered up to the extent of 60 days whereas, pre-hospitalization costs are covered up to 30 days before admission.
- Ambulance cover: In emergencies, one needs to be taken to the hospital immediately. Due to such reasons, ambulances were bought in the picture. For availing of the ambulance services, a specific cost needs to be incurred. Insurance providers provide financial support for paying off these expenses. Although, a limit has been set up to which ambulance charges will be provided.
- Domiciliary expenses: Domiciliary expenses mean home treatment costs. In some cases, doctors allow patients to avail themselves of home treatment but it comes at a cost. Various machines, doctors, and nurses give time and visit you in a while. Insurance providers guarantee to cover these expenses.
- Alternative treatments: With the development in science and technology apart from receiving tedious medical scientific treatment, various alternative treatments have been enhancing themselves. Insurance providers offer coverage for alternative methods such as AYUSH treatments too. These AYUSH treatments cover Ayurveda, Yoga, Unani, Siddha and Homoeopathy and are subject to an upper ceiling as percentage of the policy amount.
- Day-care procedures: A one-day medical treatment is covered under day care procedures. In general hospitalization, the patient needs to be admitted for a minimum of 24 hours for receiving coverage. Although in daycare treatment, hospitalization is lesser than 24 hours.
- Maternity costs: Once the minimum waiting period is served coverage for various maternity expenses are covered under the SBI Arogya Sanjeevani plan.
- Specific operations: Cataract operations, dental treatment as well as plastic surgery (in case of accident only) are specific operations that are covered under the said insurance plan.
You shall always check the policy’s exclusion carefully. As every individual has a set of their requirements, and if they are excluded from the said policy, one may not subscribe to the same.
- Adventurous or hazardous sports: If the policyholder suffers from a condition that has arisen due to undertaking adventurous sports or participation in hazardous activities then the insurance company is not liable to pay any costs even if the person is admitted to a hospital and has spent on treatment.
- Cosmetic surgeries: Surgeries that are undertaken for treating obesity issues, nose replacement (job), or more are not allowed under the SBI Arogya Sanjeevani Policy. Certain cosmetic or plastic surgeries are covered only in case of suffering an injury.
- Rehabilitation services: To detox a person from drug, cigarette, or drinking issues, they are admitted to rehab. The insurance company is not liable to pay costs for such services.
- Unapproved treatments: Only certain treatments are allowed by the insurance provider, if the policyholder undertakes any unapproved treatment, the insurance is not liable to cover its cost or if any side effects have arisen from the same.
- Policy country: The policy originated in a particular country is valid there only. For example, if the SBI Arogya Sanjeevani Policy is issued in India, it will not be valid outside the country.
- Pre-existing diseases: If the waiting period for receiving coverage for a specific disease is not completed then the insurance company is not valid to cover the expenses of such conditions.
As per the rating given by insurancedekho.com to the SBI Arogya Sanjeevani Insurance Policy is 4.3 stars. On the other hand, policy.com gives the same policy a rating of 4.8 stars. Some of the reviews provided by the clients who have availed of the policy are –
- An ideal health insurance.
- A company that cares about its customers.
- Happy with my plan and customer service.
- Polite customer care executives.
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SBI Arogya Sanjeevani Policy Health Insurance FAQs
What is the free look-up period offered by the SBI Arogya Sanjeevani Policy Health Insurance?
After purchasing the insurance plan, the company will offer you a free look-up period of 15 days. These days, the insured can understand the terms of the contract and decide if they wish to cancel the policy without any penalty. They need a valid reason to cancel the policy.
If I want to cancel my plan, what is the cancellation policy?
Once the free look-up period of 15 days has been completed, and later you wish to cancel your policy then the insurance company has set certain rules. If you cancel your policy within 1 month of its issuance and you have paid a certain sum as a premium then the insurance company will return 75% of your sum paid. If you wish to cancel your policy between 1 to 3 months, the sum payable will be 50% of the sum paid up. After 3 months but before 6 months if the policy is canceled then the amount repayable will only be 25% of the sum paid. If after 6 months the policy is canceled, no refund will be approved by the insurer.
What are the different waiting periods one needs to serve before availing of the coverage offered by the insurance company?
The waiting period every individual has to default serve is the Initial waiting period that is of 30 days. In the case of pre-existing diseases, the waiting period can be around 12 to 48 months. Specified diseases or procedures require a waiting period of 90 days to 12 months. Under these different types of a waiting periods, accident expenses are covered. Read the fine print carefully in such conditions.