SBI General Insurance offers affordable Health insurance

Indore, March, 2015: SBI General Insurance, one of the leading general insurance companies in

India have reinforced their health insurance portfolio with their affordable product, SBI General

Group Health Insurance Policy. This product is available to all SBI Bank account holders and is

aimed at presenting to the customers an inexpensive health insurance product which also offers

comprehensive coverage.With the objective to offer economical Health Insurance cover to all,

especially the tier II & III cities; SBI General seeks to be the Swasthya Mitra of all IndiansToday less

than 15% of Indias 1.1 billion people are covered through health insurance. Over 80% of health

financing is private financing, most of which is out of pocket payments and not by any pre-payment

schemes - one of the highest in the world.

In India, health insurance is unfortunately not a priority investment; Customers are yet to accept

health insurance as a financial tool for medical emergencies. They usually procrastinate when it

comes to buying health insurance unless faced with an emergency.

Customers are mainly unaware of the benefits health insurance entails and believe it to be a

wasteful expenditure. SBI General Group Health Insurance Policy is an attempt to overcome this

concern with low premiums, a comprehensive cover and ease of buying.

Mr Bhaskar Sarma, MD &CEO, SBI General Insurance said, In India where less than 15% of the

population has some form of health insurance coverage, there is an urgent need to ramp up the

health insurance coverage in the Country. The need of the hour is affordable health insurance that

can be easily understood and is available to all.

In times of rising health care costs, a sudden illness or injury can leave anyone financially

devastated and highly stressed. With SBI Generals affordableGroup Health Insurance Policy

customers are covered from any financial exigencies rising out of medical emergencies. He

added.SBI General Health Insurance Policy is available with Individual and Family Floater option

and offers a host of benefits. This policy does not require a pre-policy medical test up to the age

of 65years and has a 1year waiting period for specified diseases.While pre-existing diseases are

covered after 4years, there is a lifelong renewal guarantee for the policy with a grace period of

15days.The premium paid is exempt from Income Tax under section 80D, covers pre and post

hospitalization expenses and provides cashless treatment at over 3000 network hospitals. This

policy is available in all 23000 branches of SBI and its Associate Banks.

Region specific

Madhya Pradesh is a significant market for SBI General. We have currently 6 branches catering

to the region. The total number of premiums from Madhya Pradesh alone accounted for INR 107

crores. Our products are also available in over 1400 SBI branches in Madhya Pradesh which cover

a large geographic area. Motor, Health, Fire, Engg., and Personal Accident covers are the major

contributors (in that order). Motor alone contributes 58% of the over all premium from the state.

Health is around 8%.

Plan details:

Plan Option Sum Insured

Individual Family Floater

Minimum Maximum Minimum Maximum

100,000 500,000 100000 500000

Entry Age:

Age at Entry (years) Policy Term Premium frequency

Minimum Maximum

3 months 65 years One year, renewal by

Covers provided under the SBI Generals Group Health Insurance Policy:

Sr No Expense Heads Expense Limit (RS)

1. Ambulance charges 1% of Sum Insured to a max of Rs 1500

2. Domiciliary Hospitalisation Reasonable and customary charges towards

3. Co-payment on claims in non-
network hospitals

4. Cashless facility Across SBI Generals Network Hospitals

5. Coverage for 141 day care

surgery procedures

6. Room boarding and nursing

charges

ICU charges

domiciliary hospitalisation as defined in policy

subject to 20% of the Sum Insured, maximum

upto Rs 20000, whichever is less

10% on all eligible admissible claims

Covers select day care surgery where less than

24 hours hospitalisation for specified procedures

like Dialysis, Chemotherapy Radio therapy ,

Eye surgery , dental surgery (due to accident),

tonsillectomy, etc are covered.

1% per day for non ICU and 2% per day for ICU.

All incremental expenses pertaining to room

rent, medical practitioners/ specialists fees and

other incidental expenses to be borne by the

insured.

Medical Practitioner and specialists fee

Anaesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines & drugs,

physiotherapy, diagnostic materials and X-ray, dialysis, chemotherapy, radiotherapy, cost of

pacemaker, prosthesis/ internal implants and any medical expenses incurred which is integral

part of the operation

About SBI General Insurance

SBI General Insurance Company Limited is a joint venturebetween the State Bank of India and

Insurance Australia Group(IAG). State Bank of India enjoys the largest banking franchise inIndia.

Along with its 5 Associate Banks, SBI Group has theunrivalled strength of over 19,000 branches

across the country,arguably one of the largest in the world.Insurance Australia Group Limited (IAG)

is an internationalgeneral insurance group, with operations in Australia, NewZealand, the United

Kingdom and Asia. IAG's businessesunderwrite around A$9.0 billion of premium per annum.

SBI General's current geographical coverage extends to 52 citiespan India. We are currently serving

3 key customer segments i.e.Retail Segment (catering to Individual & Families), CorporateSegment

(catering mid to large size Companies) and SMESegment. Current Policy offering of SBI General

covers Motor,Health, Personal Accident & Home Insurance for Individuals andAviation,

Fire,Marine, Package, Construction & Engineering,Liability, Group Health, Group Personal Accident

&Miscellaneous Insurance for Businesses.