Loan Insurance Policy

Loan Insurance Policy

Arogya Sanjeevani Policy
We Protect You
  • Critical Illness

    Critical Illness

  • Personal Accident

    Personal Accident

  • Loss of Job

    Loss of Job

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Key Feature
  • No medical check-up up to Sum Insured of Rs.1 Crore and/or age up to 55 years
  • Policy can be availed for maximum of three years benefitting the purse strings
  • Coverage for 13 critical illnesses, accidental death or permanent disablement and loss of job
  • Sum Insured available on fixed or reducing basis

SBI General’s Loan Insurance Policy offers the following covers -

• Critical Illness • Personal Accident • Loss of employment

Section I - Critical Illness

Policy provides coverage against 13 critical illnesses listed below. Immediately on diagnosis of any one of them, benefit amount is paid subject to policy terms and conditions.

  • Cancer
  • Kidney Failure (End Stage Renal Failure)
  • Primary Pulmonary Arterial Hypertension
  • Multiple Sclerosis
  • Major Organ Transplant
  • Coronary Artery Bypass Graft
  • Aorta Graft Surgery
  • Heart Valve Surgery
  • Stroke
  • Myocardial Infarction (First Heart Attack)
  • Coma
  • Total blindness
  • Paralysis
Section II - Personal Accident

Policy pays for

  • Accidental Death or
  • Permanent Total Disability
Permanent Total Disablement% of compensation
Loss of sight in both eyes100%
Actual loss by Physical Separation of both hands or both feet or one entire hand and one entire foot100%
Loss of use of both hands or both feet or of one hand and one foot without Physical Separation100%
Section III - Loss of Job

Maximum of 3 EMI will be payable in the unfortunate event of temporary unemployment or dismissal or retrenchment

Age eligibility:

The minimum age of entry for the SBI General’s Loan Insurance Policy is 18 years and maximum age of entry is 60 years


SBI General’s Loan Insurance Policy is available for a maximum period of three years.

Extent of compensation under Loan insurance Policy:

If any of the contingencies occurs during the policy period, compensation will be provided as given below -

Death: Outstanding Loan Amount or Sum Insured respectively for reducing SI basis and Fixed Sum Insured

Accidental Permanent & Total Disability: Outstanding Loan Amount or Sum Insured respectively for reducing SI basis & Fixed Sum Insured

Critical Illness: Outstanding Loan Amount or Sum Insured respectively for reducing Sum Insured basis and Fixed Sum Insured

Loss of Job:Maximum 3 EMIs

General Exclusion
  • War, invasion; acts of terrorism, riot, strike , malicious damage
  • or such similar perils
  • Nuclear perils; ionising radiations
  • Drug abuse or alcoholism
  • Self inflicted injury, attempted suicide or suicide
  • Consequential loss or indirect expenses
Specific Exclusion
Section I- Critical Illness
  • Any pre-existing illness
  • Any critical illness discovered within 90 days of the policy
  • Self medication; treatment not administered by a doctor or which is not medically necessary
  • Congenital illness or defects and/or treatment administered for them
  • Hormone Replacement Therapy; contraceptive procedures
  • Gender change or cosmetic surgery or treatment/procedures associated with the same
  • Self medication; unauthorized treatment
Section II-Personal Accident
  • Payment under more than one category specified i.e Death or Permanent Total Displacement
  • Any infirmity/conditions existing before the inception of the policy
  • Persons learning to operate an aircraft or operating as crew or participating in adventure sports including winter sports, hazardous activities and the like
  • Death or permanent total disability arising out of illness
  • Venereal diseases or insanity
Section III-Loss of Job
  • Termination, dismissal, temporary suspension or retrenchment due to fraud or dishonesty, poor performance
  • Businessmen; persons who are self employed
  • Employees on casual, temporary or contractual basis
  • Unemployment due to resignation, retirement whether voluntary or otherwise
  • Unemployment at inception or arising within first 90 days of Inception
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