SBI General Health Insurance vs Universal Sompo Health Insurance

Have you heard about health insurance but never bothered to find out what the buzz was about? Well, get ready to learn about health insurance and its benefits with this comparison guide of SBI General Health Insurance and Universal Sompo Health Insurance

SBI General Health Insurance vs Universal Sompo Health Insurance – Overview 

Parameter SBI General Health InsuranceUniversal Sompo Health Insurance
No. of health insurance policies1120+
E-servicesPolicy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer supportPolicy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer support
Branches22,000+86
Claim settlement ratio 59.42%90%
Network Hospitals 6,000+4000+

*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 Universal Sompo Health Insurance

SBI General Health Insurance, part of the reputed State Bank of India Group, started offering health insurance in 2009. Apart from offering 11 health insurance products, it offers value-added services through vast e-pharmacy networks and lifestyle management platforms like Fitternity. 

Universal Sompo Health Insurance is an alliance between 4 reputed banks in India and Sompo Japan Insurance. The company showcases its quality services through its 20 plus insurance products, its high claim settlement ratio of 90% and 4,000 plus hospital networks.

Loan Insurance Policy: 

SBI General Health Insurance’s Loan Insurance Policy offers: 

  • Sum insured (SI) amounts up to Rs. 1,00,00,000 or up to the outstanding loan amount of the insured
  • The option to choose between a fixed or a reducing SI 
  • Coverage for 13 critical ailments and surgical procedures such as: 
  • Cancer
  • Coma
  • Paralysis 
  • Stroke 
  • Heart valve surgery 
  • Coronary artery bypass grafting 
  • The full payout of the SI on: 
  • The accidental death of the insured
  • Permanent total disablement of the insured 
  • To cover a maximum of 3 equated monthly installments (EMIs) in case the insured faces a loss of job due to: 
  • Temporary total disablement 
  • Dismissal 
  • Retrenchment 

Universal Sompo Health Insurance’s Loan Secure Insurance Policy offers: 

  • SI amounts up to Rs. 3,00,00,000
  • The option to choose between a fixed or a reducing SI 
  • Coverage for up to 18 critical ailments and surgical procedures such as: 
  • Cancer
  • Kidney failure 
  • Multiple sclerosis 
  • Benign brain tumour 
  • Open heart replacement 
  • Major organ transplant 
  • The full payout of the SI on: 
  • The accidental death of the insured
  • Permanent total disablement of the insured 
  • To cover a maximum of 3 equated monthly installments in case the insured faces a loss of job due to: 
  • Dismissal 
  • Temporary suspension 
  • Retrenchment 
  • An optional add-on to cover damage/ loss against household and household contents due to:  
  • Natural disasters such as fire, lightning, storms and more 
  • Riots, strike, terrorism, and malicious acts
  • Leakage, explosions, and more 

Daily Hospital Cash Policy: 

SBI General Health Insurance’s Daily Hospital Cash Policy offers: 

  • Daily cash benefits (DCB) between Rs. 500 and Rs. 2,000 for up to 60 days 
  • Twice the DCB for hospitalization of the insured in the intensive care unit (ICU) 
  • Twice the DCB for hospitalization of the insured due to an accident 
  • Up to Rs. 5,000 towards convalescence benefits 

Universal Sompo Health Insurance’s Daily Hospital Cash Policy offers:

  • DCB between Rs. 500 and Rs. 3,000 for up to 180 days 
  • Twice the DCB on hospitalization of the insured in the ICU 
  • Convalescence benefits up to Rs. 10,000 

Corona Kavach Policy: 

To help the citizens of India through COVID-19, the IRDAI passed a directive in 2020 mandating all insurers, including SBI General Health Insurance and Universal Sompo Health Insurance to offer financial support through the Corona Kavach Policy. This policy shares standard features and benefits across insurers throughout India and offers: 

  • SI amounts between Rs. 50,000 and Rs. 5,00,000
  • Coverage for:
  • Pre and post-hospitalization 
  • In-patient hospitalization  
  • Domiciliary/ home hospitalization
  • AYUSH treatments
  • Comorbidities 
  • Road ambulance costs up to Rs. 2,000 per hospitalization 
  • Daily hospital cash benefits 
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