SBI General Health Insurance vs Cholamandalam Health Insurance

At some point or the other in life, you will need medical attention to get back on your feet from an unforeseen health scare. Instead of leaving the responsibility of finances at that very moment, it would be wise to secure your future with a little investment in the present. The best way to do this is with health insurance as it covers all hospitalization, treatment, and recovery costs at such times. Moreover, you can protect yourself, your family members, and even your employees and get a range of benefits as mentioned in these policies from SBI General Health Insurance and Cholamandalam Health Insurance

SBI General Health Insurance vs Cholamandalam Health Insurance – Overview 

Parameter SBI General Health InsuranceCholamandalam Health Insurance 
No. of health insurance policies1110+
E-servicesPolicy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer supportPolicy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 call assistance
Branches22,000+136
Claim settlement ratio 59.42%50.01%
Network Hospitals 6,000+131

*Source: The Annual Report of the Insurance Regulatory and Development Authority of India (IRDAI) –years 2019-20. 

Health Insurance Policies: SBI General Health Insurance vs Cholamandalam Health Insurance

SBI General Health Insurance offers 11 health insurance policies. They cover the needs of individuals, families, and senior citizens. Apart from offering all-round insurance products, they give their customers value-added services through its pharmacy and diagnostic platform 1mg and wellness platform Fitternity. 

Cholamandalam Health Insurance offers over 10 health insurance policies that cover the needs of individuals, families, and senior citizens. Apart from offering innovative health products in urban cities, they have a proactive presence in rural spaces and serve the community through old age homes, relief assistance and child education.

Cholamandalam Health Insurance 

Critical Illness Policy: 

SBI General Health Insurance’s Critical Illness Policy offers: 

  • Sum insured (SI) amounts between Rs. 2,00,000 to Rs. 50,00,000
  • Coverage for 13 life-threatening diseases  such as: 
  • Cancer
  • Hypertension
  • End-stage kidney failure 
  • Permanent paralysis 
  • Multiple sclerosis 
  • Full payout of the SI upon diagnosis of a critical illness 

Cholamandalam’s Critical Illness Plan offers two sub-plans:

  • A Standard Plan 
  • An advanced Plan 

These plans provide: 

  • SI amounts between Rs. 3,00,000 to Rs. 10,00,000
  • Coverage for 12 life-threatening diseases such as: 
  • Cancer
  • Kidney failure
  • Permanent paralysis 
  • Parkinson’s disease 
  • Motor neuron disease 
  • Full payout of SI upon the diagnosis of a critical illness  
  • Emergency ambulance costs up to Rs. 1,000 

Personal Accident Policy:

 SBI General Health Insurance’s Personal Accident Policy offers:

  • SI amounts up to Rs. 1,00,00,000
  • Full payout of the SI (i.e. 100%) on accidental death 
  • Full payout of the SI for permanent total disability
  • Up to 100% payout of the SI for permanent partial disability
  • Weekly cash benefits of Rs. 10,000 per week for temporary total disability 
  • A child education benefit of Rs. 50,000 
  • Rs. 25,000 towards the modification of the insured’s vehicle/home 
  • Daily hospital cash benefits up to Rs. 3,000
  • Road/air ambulance costs up to Rs. 1,00,000

Cholamandalam’s Personal Accident Policy offers: 

  • SI amounts up to Rs. 1,00,00,000
  • 100% payout of the SI on accidental death
  • 100% payout of the SI for permanent total disability
  • Up to 60% payout of the SI for permanent partial disability 
  • Up to 100% payout of the SI for broken bones/fractures 
  • Weekly benefits of Rs. 5,000 per week for temporary total disability 
  • A child education benefit of Rs. 25,000 
  • Weekly benefits in case of job loss due to a disability caused by an accident 
  • Rs. 50,000 towards the modification of the insured’s vehicle/home 

Hospital Cash Policy: 

SBI General Health Insurance’s Hospital Cash Policy offers: 

  • Daily cash benefits (DCB) from Rs. 500 to Rs. 2,000 for up to 60 days 
  • Twice the DCB for intensive care unit (ICU) hospitalization 
  • Twice the DCB for hospitalization due to an accident 
  • Convalescence benefits up to Rs. 5,000

Cholamandalam’s Hospital Cash Policy provides: 

  • DCB from Rs. 1,000 – Rs. 3,000 for up to 25 days 
  • Twice the DCB for ICU hospitalization 
  • Convalescence benefits up to Rs. 20,000