1 Crore Health Insurance

What Exactly Is A 1 Crore Mediclaim Policy?

6 Amazing Perks of Having a 1 Crore Medical Insurance Policy

• Comprehensive Coverage

In addition to providing a high sum insured value, a 1 crore health insurance plan usually covers various medical expenses, from hospitalisation for accidents to routine checkups. This health insurance plan covers everything, Whether life-changing surgery or diagnostic tests.

• Cashless Hospitalisation

Almost all leading insurance providers, including SBI General, offer cashless hospitalisation to their policyholders in their network hospitals. This reduces the need for extensive paperwork later, and you can focus on getting better without worrying about any claims or reimbursements.

• Family Floater Option

Many 1 crore insurance policies come with the option to cover the policyholder's family to ensure proper coverage for all eligible dependents under one policy.

• Financial Security

A 1 crore health insurance plan can financially protect individuals and families with a high sum insured. If you or your family require advanced treatment in the future, you won’t have to worry about the money necessary for it and can channel your energy toward recovery.

• Health Insurance Tax Benefits

Everyone who invests in a health insurance plan can benefit from Section 126 of the Income Tax Act, 2025, which allows you to avail of tax deductions on the premium paid to the insurer. For example, you can avail a maximum of ₹1 lakh tax deductions for a plan for you, your family, and your parents (aged over 60).

• Sum Insured Refill

Many 1 crore health insurance policies can restore the entire sum insured, i.e., 1 crore, in case you need it. This almost entirely eliminates the need to opt for a top-up on your insurance policy.

Top 4 Reasons to Go for 1 Crore Health Insurance in India

• Increasing Likelihood of Critical Diseases

Several reports show that people in India, including youngsters and children, are developing chronic and critical conditions such as cardiac problems and diabetes. There is a high risk of developing life-threatening illnesses for everyone; thus, choosing health insurance for ₹1 crore can be quite useful as healthcare costs are at an all-time high and continue to grow.

• Reduced Financial Burden

Even if you have a solid accumulation of funds in your bank, it can quickly deplete in the face of a medical emergency. A 1 crore health insurance usually allows you to refill the entire sum insured for a particular year if needed.

• Optional Add-on Covers

With the option to enjoy added benefits at an additional cost, you can further enhance your coverage under a 1 crore health insurance plan. This offers room for customisation to tailor-make a plan that suits you and your family best.

• Peace of Mind

Often overlooked, the sense of relief one gets from having a 1 crore health insurance plan cannot be understated. If you opt for such a plan, you can enjoy quality healthcare without worrying about the costs involved at every small stage and probably recover faster.

How do I apply for the 1 Crore health insurance plan?

• Step 1: Choose Your Plan

Select the 1 Crore Health Insurance Plan from our comprehensive options that best fits your needs.

• Step 2: Fill Out Application Form

Complete the online application form with your personal details, including identity proof, address proof, age proof, and income details (if applicable).

• Step 3: Upload Documents

Upload scanned copies of the required documents, ensuring clarity and accuracy for swift processing.

• Step 4: Review and Submit

Double-check all information provided, review policy terms, and submit your application securely online.

• Step 5: Payment

Make payment for your chosen plan using convenient online payment options.

• Step 6: Policy Issuance

Receive your policy document digitally via email upon successful payment and verification.

Inclusions and Exclusions in a 1 Crore Mediclaim Policy

1. Pre- and post-hospitalisation expenses
2. Generic disorder treatment expenses
3. Doctor’s consultation fees
4. Expenses for diagnostic tests
5. Outpatient procedure expenses
6. Charges for ambulance services (including air ambulance)
7. Organ donor expenses
8. Cover for bariatric surgery
9. Cataract treatment expenses
10. Alternative AYUSH treatment expenses

How much premium do I pay to buy the 1 Cr. health policy?

Common exclusions in 1 crore health insurance plan are listed below:

1. Expenses for non-necessary treatments, including cosmetic surgery
2. Experimental or unproven treatment expenses
3. Disposables
4. Medical expenses incurred outside India
5. Rehabilitation for substance abuse

Who Needs a 1 Crore Health Insurance Plan?

• High Net Worth Individuals

A regular insurance plan may not adequately cover your healthcare costs if you have a high net worth. To get adequate coverage, you should invest in an insurance plan that offers a high sum insured.

• Individuals with a Risky Lifestyle

People involved with substance abuse or those who have hazardous occupations should consider going for a high-sum insured policy since these individuals are at a high risk of developing critical health problems.

• Individuals Who Have to Take Care of Dependents

If you want your insurance plan to care for your spouse, children, and parents, going for a lower sum insured may not be enough, especially in tier 1 cities.

• Individuals Who Have Pre-existing Conditions

If you have pre-existing conditions, they are likely to worsen over the years. Thus, investing in a 1 crore health insurance can safeguard your finances and your family’s future.

• Individuals with a Family History of Critical Illnesses

People who have a strong family history of diabetes or heart problems are highly likely to develop these conditions themselves. In such cases, it is best to take proactive measures and invest in a high-sum insured health plan.

How to Pick the Best 1 Crore Medical Insurance Policy?

1. Your preferred hospital should be part of your insurance provider's network.
2. Look for an add-on cover to eliminate the room rent limit in case your plan limits the type of room you can stay in during hospitalisation.
3. Check for your insurance's co-payment clauses and ensure you understand the concept clearly.
4. The claim settlement process should be relatively easy.
5. Review the policy's list of exclusions and look for add-on coverage for items you want to include.
6. A high claim-settlement ratio means that your claim will likely be cleared without much trouble if it is legitimate.
7. Check the waiting period for pre-existing conditions in the policy documents.

Top 3 Factors that Determine the 1 Crore Health Insurance Premium

• Age

Age is the number one factor insurance providers evaluate to determine a policy's premium. The younger the policyholder(s), the lower the premium.

• Medical History

People with pre-existing conditions are considered high-risk individuals in health insurance as they are highly likely to raise claims. Thus, the higher the number or severity of your pre-existing conditions, the higher your policy premium will be.

• Geographical Location

Healthcare costs are rising but are quite high in urban areas compared to rural areas. Thus, your geographical location matters while purchasing a 1 crore health insurance plan.

How Does the 1 Crore Health Insurance Plan Work?

• Premium Payment

Depending on your preference and the terms and conditions defined by the insurance provider, you pay the policy premium monthly, quarterly, or yearly.

• Claim Settlement

There are two ways in which you can raise a claim:
• Cashless claims can be availed at any network hospital by sharing your policy details.
• Reimbursement claims can be made by submitting a duly filled-out claim form and supporting documents to receive partial or total compensation for your medical expenses.

• Policy Renewal

Many insurance providers offer multiple-year policy tenures, at the end, you can renew the policy by paying the premium within the time limit.

Who can buy a 1 Cr. health insurance policy?

Documents required to buy 1 Cr. medical insurance

1. Identity Proof: Provide a valid ID such as an Aadhaar Card, Passport, Voter ID, or Driving License.
2. Address Proof: Submit documents like an Aadhaar Card, Passport, Voter ID, or recent utility bills.
3. Age Proof: Furnish a Birth Certificate, Passport, Aadhaar Card, or Driving License to verify your age.
4. Income Proof (if applicable): Provide Salary Slips, Income Tax Returns (ITR), or Form 16 for income-based eligibility or tax benefits.
5. Medical Reports (if required): Some insurers may request recent medical reports or health check-up results.

How to Purchase a 1 Crore Health Insurance Plan Via SBI General

How to claim for your one crore health insurance?

1. Notify Us: Contact our dedicated claims team immediately after hospitalisation or treatment initiation to initiate the claims process.
2. Document Submission: Provide necessary documents, including medical reports, bills, discharge summary, and claim form for verification.
3. Assessment: Our team will assess your claim promptly and guide you through any additional requirements.
4. Approval and Payment: We settle your claim swiftly upon approval, ensuring you receive the financial support you need during challenging times.
5. Follow-Up: We’re here to assist you throughout the process and address any queries or concerns you may have.

Benefits of Obtaining a SBI General 1 Crore Mediclaim Policy

• Access to more than 18,000+ network hospitals
• Coverage for pre- and post-hospitalisation
• No claim bonus for every claim-free year with an increment of 15%
• Coverage for about 537-day care procedures on hospitalisation
• Option to refill the sum insured
• Emergency assistance services in India, including air ambulances
• Recovery benefits up to the specified limit
• Opinion from an expert panel of doctors