Arogya Sanjeevani 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
Coverage

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

Tenure:

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
  • HIV/AIDS
  • 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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