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Critical illness Insurance Policy
Your greatest wealth is your health. Life follows no fixed plan and a sudden illness that is critical can sometimes leave you financially hurt and highly stressed. SBI General’s Critical Illness Insurance Policy helps you to be in control by protecting you financially.
SBI General’s Critical Illness Insurance Policy covers you against thirteen most important critical illnesses. The Policy provides for a fixed sum, irrespective of your actual medical expenses! It helps you bear the high cost of treatment associated with critical illness & stay financially stable.
- Coverage against 13 most critical Illnesses
- Maximum age of entry is 65 years
- Two Plan Options – One year and 3 years
- Sum Insured available up to Rs. 50,00,000
- Free Look Period of 15 days
- The premium paid is exempt from Income Tax under Sec 80 D of Income Tax act
The Policy provides for Insurance cover against 13 Critical Illnesses. The Insurance benefit is payable, only if the Insured is alive for a period of more than or equal to 28 days from the date of the first diagnosis of the illness/medical event or undergoing illness related surgical procedure for the first time.
|Sr. No.||Critical Illness||Survival Period||Minimum Assessment Period|
|1||Cancer||28 days||28 days|
|2||Kidney Failure (End Stage Renal Failure)||28 days||28 days|
|3||Primary Pulmonary Arterial Hypertension||28 days||28 days|
|4||Multiple Sclerosis||28 days||28 days|
|5||Major Organ Transplant||28 days||180 days|
|6||Coronary artery by-pass grafts (with surgery to divide the breastbone)||28 days||28 days|
|7||Aorta Graft Surgery||28 days||28 days|
|8||Heart Valve Surgery||28 days||28 days|
|9||Stroke||28 days||90 days|
|10||Myocardial Infarction (First Heart Attack)||28 days||28 days|
|11||Coma||28 days||30 days|
|12||Total Blindness||28 days||28 days|
|13||Paralysis||28 days||90 days|
Only one Critical Illness claim can be allowed by us during the lifetime of the Insured. The Critical Illness policy terminates immediately on the payment of first Critical Illness benefit under the policy. The maximum benefit amount under Critical Illness cover to any individual is INR 5,000,000 including all policies that are issued by the Insurer.
The minimum age of entry for SBI General’s Critical Illness Insurance Policy is 18 years, while the maximum age is 65 years.
The following exclusions shall apply to the benefits admissible under this policy and No benefit shall be paid for the following circumstances and for the following conditions/ tests/ treatments.
- Pre- Existing disease, related condition(s) & complications.
- Waiting period of 90 days from the date of issuance of the policy.
- Any congenital Illness / conditions.
- Attempted suicide (whether sane or insane) or intentionally self inflicted Injury or Illness.
- Sexually transmitted conditions, mental or nervous disorder, Acquired Immune Deficiency Syndrome (AIDS), Human Immune deficiency Virus (HIV) infection
- Being under the influence of drugs, alcohol, or other intoxicants or hallucinogens unless properly prescribed by a Medical Practitioner and taken as prescribed
The SBI General’s Critical Illness Insurance Policy is available in two Plan Options.
- 1 year Plan
- 3 year Plan
The minimum coverage available under this policy is for Rs. 2,00,000 and the maximum is for Rs. 50,00,000 subject to the following terms.
- The maximum sum insured would be restricted to 60 months gross income for the Insured or maximum of Rs. 50,00,000 provided, proposer is the earning member of the family and in such cases, we may insist for income proof, if required.
- In case of non earning Insured sum insured would be restricted to 50% of Sum Insured up to a maximum of Rs. 10,00,000 based on the Income of the proposer.
- Based on Medical history, Sum Insured and age, the proposer may have to undergo a Medical Examination. For proposed insured persons who are aged above 45 years, the acceptance of proposal is subject to a satisfactory medical examination as per our company’s requirements, irrespective of sum insured chosen.
- Pre-acceptance medical tests will be at the cost of the proposer. However, if the proposal is accepted the Insurer will reimburse 50% of the cost incurred towards the medical tests so undertaken at the advice of the insurer.
- The Maximum Sum Insured would be restricted to Rs. 15,00,000 for insured persons aged 60 and above and taking a policy with us for the first time.
Is a Free- Look option available in this policy?
Yes, free look option is available in this policy.
Do I need to undergo Pre-Acceptance Health Check Up compulsorily?
Pre-acceptance Health check is not mandatory for people who are less than 45 years old and without any history of illness. Insured’s with following condition, acceptance of proposal is subject to a satisfactory medical examination as per SBI General’s requirements:
- Insured with adverse medical history as declared in Proposal Form or,
- Insured aged above 45 years & irrespective of SI.
The cost of Pre-acceptance medical tests has to be borne by the proposer. However, if the proposal is accepted by Us, we will reimburse 50% of the cost incurred towards the medical tests so undertaken at our advice.
What plan options are available under this policy?
You can buy 1 year or 3 years policy term under this policy.
What are Sum Insured restrictions in the policy?
The maximum sum insured would be restricted to 60 months gross income for the Insured or maximum of INR 5,000,000/- provided, Insured is the earning member of the family and in such cases, Company may insist for income proof, if required. In case of non earning Insured sum insured would be restricted to 50% of Sum Insured based on Proposer Income maximum up to 10 lacs. The Maximum Sum Insured would be restricted to INR 1,500,000/- for insured persons aged 60 and above and taking a policy for the first time.
What is Survival Period?
Survival period means that Insurance benefit is payable, only if the Insured is alive for a period of more than or equal to 28 days from the date of the first diagnosis of the illness/medical event or undergoing illness related surgical procedure for the first time. Below table explains the actual survival period and assessment period for the listed critical illnesses:
Sr no. Types of Critical Illness Survival Period Min. Assessment Period 1 Cancer 28 days 28 days 2 Kidney Failure (End Stage Renal Failure) 28 days 28 days 3 Primary Pulmonary Arterial Hypertension 28 days 28 days 4 Multiple Sclerosis 28 days 28 days 5 Major Organ Transplant 28 days 180 days 6 Coronary artery by-pass grafts (with surgery to divide the breastbone) 28 days 28 days 7 Aorta Graft Surgery 28 days 28 days 8 Heart Valve Surgery 28 days 28 days 9 Stroke 28 days 90 days 10 Myocardial Infarction (First Heart Attack) 28 days 28 days 11 Coma 28 days 30 days 12 Total Blindness 28 days 28 days 13 Paralysis 28 days 90 days
Product code: IRDA/NL-HLT/SBIGI/P-H/V.I/41/13-14.Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the sales brochure carefully before concluding a sale.