General Insurance 1177 views December 17, 2020

SBI General Insurance Company has a wide range of insurance products for individuals – Health Insurance, Personal Accident Insurance, Travel Insurance, Motor Insurance and Home Insurance. The company offers these insurance products through 23,000+ branches and 5,500+ Regional Rural Banks of State Bank of India. So, wherever you are in India, you can find an SBI General Insurance branch near you. Let’s read this page further and know about the variety of insurance policies that this general insurance company offers.

SBI General Insurance Products

Health Insurance

With the SBI Health Insurance, you and your family will be covered from any financial health risk up to the Sum Insured of the policy. This SBI General Insurance product helps you get a lump sum during hospitalization, pre-hospitalization and post-hospitalization. Check out the list of policies available at SBI General Insurance:

  1. Arogya Sanjeevani Policy: If you buy the SBI Arogya Sanjeevani Health Insurance, you will get benefits such as zero medical check-ups till the age of 55 years (only if you don’t have any medical history), AYUSH treatments, full family coverage, road ambulance cover and a cumulative bonus of 5% for each claim-free year. The Sum Insured for this policy ranges from INR 1,00,000 to INR 5,00,000.
  2. Arogya Premier Policy: An SBI Health Insurance policy with coverage of INR 10-30 lakh. Arogya Premier Policy will cover AYUSH treatment and 141 daycare procedures. And you will be entitled to reimbursement of health check-up worth INR. 5,000 (no claim for 4 years). The cumulative bonus is 10% in this policy and you don’t need to go through a pre-medical check-up if you have no medical history until policy inception.
  3. Arogya Plus Policy: This comes in both individual and family floater plans. You can have multiple sum insured options under Arogya Plus Policy, ranging from INR 1-3 lakh. It will provide coverage for 141 daycare procedures, outpatient treatment, and pre-and post-hospitalization cover.
  4. Arogya Top up Policy: An SBI Health Insurance policy that doesn’t require a medical check-up up to 55 years age if the policyholder doesn’t have a medical history. Arogya Top up Policy provides a comprehensive cover for pre-and-post-hospitalization plus 141 daycare procedures. The Sum Insured limit is from INR 1-50 lakh.
  5. Corona Kavach Policy: You don’t need to go through any medical check-up no matter what age group you belong to. The SBI Corona Kavach policy pays your room rent, ICU charges and home care expenses (up to 14 days). Your policy newborn cover will start from day 1.
  6. Corona Rakshak Policy: If you buy the SBI Corona Rakshak policy and get tested positive during the coverage period, the 100% Sum Insured will be payable.
  7. Retail Health Insurance Policy: This insurance cover comes with a sum insured of INR 50,000 to INR 5 lakh. Retail Health Insurance will pay for your hospital room rent, boarding expenses, doctor fee, Operation Theatre, Intensive Care Unit (ICU), nursing expenses, medicines during the hospitalization period, pre-and post-hospitalization (up to 30/60 days).
  8. Critical Illness Insurance Policy: A policy that covers 13 critical Illnesses such as Cancer End-Stage, Kidney Failure, Primary Pulmonary Arterial Hypertension, Multiple Sclerosis, Major Organ Transplant, Coronary artery bypass grafts (with surgery to divide the breastbone), Aorta Graft Surgery, Heart Valve Surgery, Stroke, Myocardial Infarction (First Heart Attack), Coma, Total Blindness and Paralysis. There are two plans under the policy – one is a 1-year plan, whereas the other is a 3-year plan. The sum insured is up to INR 50 lakh for the SBI Critical Illness Insurance.
  9. Hospital Daily Cash Insurance Policy: With this SBI Health Insurance product, you will get coverage for accidental injury or sickness during the policy period. And this benefit is payable for a maximum of 30-60 days only. Besides that, daily cash benefit (INR 2,000-4,000 per day) and cover for convalescence expenses (up to INR. 5,000) will be there too.
  10. Group Health Insurance – SBI: A wide coverage to the entire family against room and boarding charges, doctor, surgeon and nursing fees, ICU charges, cost of medicines, and pre-and post-hospitalization expenses. The Sum Insured is from INR 1-5 lakh in Group Health Insurance-SBI.
  11. Loan Insurance Policy: No medical check-up is required for the SBI Loan Insurance policy, up to the age of 55 years. The Sum Insured of up to INR 1 crore. This policy can be availed for a maximum of three years and it covers 13 critical illnesses, accidental death/permanent disablement, and loss of a job.

Individual Personal Accident

An SBI General Insurance product that doesn’t require any pre-acceptance medical tests and covers individuals against Accidental Death (AD), AD plus Permanent Total Disability (PTD), AD plus PTD plus Permanent Partial Disability (PPD), AD plus PTD plus PPD plus Temporary Total Disability (TTD). This SBI General Insurance policy won’t pay for the following-

  1. Suicide or attempted suicide, Self-inflicted injury (under the influence of drugs/ hallucinogens/any nonprescribed medication)
  2. Participation in an actual or attempted felony, riot, crime, civil commotion, hazardous activities such as skydiving, parachuting, scuba diving, bungee jumping, etc.

With this plan, you will get minimum coverage of INR. 1,00,000 and maximum coverage of INR. 1,00,00,000. Your Sum Insured for Accidental Death Benefit or PTD is limited to 120X monthly gross income or 10X the annual gross earnings. The policy is for all Self-employed, Salaried and Business Class individuals.

Travel Insurance (Business and Holiday)

SBI travel insurance policy covers all your treatments while you are on holiday. Any injury or illness if sustained during the travel period, its expenses will be borne by the insurer. You will have 24/7 travel support to resolve your queries instantly. If you are in financial trouble during your trip, get an emergency Cash advance from your SBI travel insurance. There are primarily two types of insurance

  1. Single Trip:- A Minimum of 1 day and a maximum of 180 days
  2. Multi-Trip:- 1 year (not shorter or longer than one year)

This policy gives you coverage up to $5 lakh with worldwide protection. SBI travel insurance will not include the following:

  1. Travel for medical treatment
  2. Injury or Death due to suicide, alcoholism, drugs, etc.
  3. Expenses of individuals who are in military, naval or air force operations

Latest Offer- As per the news reports, SBI General Insurance has joined hands with IntrCity RailYatri to provide complimentary travel insurance worth INR 5 lakh to bus commuters. And this travel cover is offered if you buy a ticket from the IntrCity RailYatri portal.

Motor Insurance

To protect your vehicle, you should buy an SBI Motor Insurance. Cover your vehicle with this insurance plan and get a lump sum amount when your insured vehicle is damaged or lost. Under motor insurance, a Third Party Liability cover protects your vehicle against any legal liabilities. The policy also provides you a loss or damage cover that protects you financially in case your vehicle gets damaged due to the following –

  1. Fire, Explosion, Self-ignition, Accident by external means, damage by road, rail, inland waterway, lift, elevator, air, Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide, Burglary, theft, riot, strike, malicious act and terrorist activity.

The following is the list of SBI General Insurance motor vehicle insurance products –

  1. Two Wheeler Insurance – With this policy, you will get a compulsory personal accident cover of INR. 15 lakh with Third Party Liability and Loss and Damage cover.
  2. Private Car Insurance – A personal accident covers up to INR 15 lakh for individual owners and up to INR 2 lakh per person for passengers. This will provide Third Party Liability and Loss and Damage cover.
  3. Motor Act Only– Two Wheeler(5 Years) – With this motor insurance, a Third Party Liability cover, Additional covers such as Personal accident cover at an extra cost, Additional Legal liabilities for Paid driver/conductor/cleaner of the vehicle and Bifuel-Kit will be available.
  4. Long Term Two Wheeler Insurance – If you buy this SBI Motor Insurance for your Bike, you will get a long term policy for 2 or 3 years with a discounted premium. It covers Third party liability and loss or damage to the vehicle. And this policy also provides you a No Claim Bonus of up to 50%.
  5. Motor Act Only- Private Car (3 Years) – A cover up to 3 years against Third-Party Liability with additional benefits like Personal accident cover, Additional Legal liabilities and Legal liabilities if you use CNG/LPG bifuel kit.
  6. Motor – Trailer Insurance – This policy covers the compulsory Third Party Liability as required by the Motor Vehicles Act, along with the loss or damage to the vehicle itself. Other benefits include Personal Accident, Additional Legal Liabilities for Paid Driver and employee, Bi-fuel-Kit, Nil Depreciation, NCB Protection, Return to Invoice, Cover for Key Replacement and Loss of Personal Belongings.
  7. Motor Commercial Vehicle Insurance – Cover your farming vehicles such as tractors harvesters, reapers, threshers, chaff cutters, salvage corps vehicles, Lawnmowers, etc. with this SBI Motor Insurance. Additionally, get a personal accident cover for you and your family. It covers the compulsory Third-Party Liability, Personal Accident for Paid Driver/cleaner, Additional Legal Liabilities towards Paid Driver and employee, Bi-fuel Kit, enhanced PA cover for the owner and paid driver, No Claim Bonus Protection and a return to Invoice.
  8. Act Only Insurance Policy – Legal liability protection due to the use of the vehicle, towards third parties that result in any bodily injury or death of a person. Pay an additional premium to get the following: Personal Accident Cover, Additional Legal Liabilities, and Bi-fuel kit.

Home Insurance

Your family is protected if your home has insurance. That’s why SBI General Insurance brings to you SBI Home Insurance policies. Ans insurance policy that protects you financially in case your home gets damaged due to the following –

  1. Fire, Lightning, Explosion/Implosion (except for boilers, economizers, pressure vessels), Aircraft crashes, riot, strike, malicious damage, storm, cyclone, typhoon, tempest, hurricane, tornado, flood, inundation, subsidence, landslide, bursting and overflowing water tanks/pipes, missile testing operations, leakage from automatic sprinklers, bush fires, earthquake (Fire and Shock) and terrorism, if you pay an extra premium.

There are two types of SBI Home Insurance

  1. Long Term Home Insurance – This policy will cover all the above-mentioned things along with several other stuff for a tenure of up to 30 years.
  2. Simple Home Insurance – It is for an independent house, flats, and apartments. The policy covers several perils like:-

Fire, loss or damage to property due to terrorism and earthquake, burglary/theft, public liability, plate glass, baggage, breakdown of electrical/electronic appliances, personal accident, loss of cash, portable equipment, jewelry, and valuables. This policy term is of 3 years and it also covers the tenant.

Shagun Insurance

Gift an SBI Shagun Insurance to your friends and family. This policy covers the following –

  1. Accidental Death
  2. Permanent Total Disablement
  3. Provides Education Benefit
  4. An Adoption Allowance
  5. Permanent Partial Disability
  6. Ambulance Fees
  7. Hospital confinement allowance

Note – Gift Receiver must be 18-65 years

Types of SBI General Liability Insurances

SBI General also offers the following liability insurances –

  • Directors & Officers Liability Insurance
  • Errors and Omission Liability Insurance
  • Event Cancellation Insurance Policy
  • Broad Form Liability
  • Product Liability Insurance Policy
  • Public Liability Insurance Act Policy
  • Public Liability Insurance Policy
  • Clinical Trial (No Fault) Insurance
  • Clinical Trial (Professional Liability) Insurance
  • Employees Compensation Policy
  • Commercial General Liability Insurance Policy
  • Cyber Defense Insurance

Directors & Officers Liability Insurance: This policy provides compensation to third parties in case of loss due to any wrongful act committed by directors and officers.

Errors and Omission Liability Insurance: The insurer pays compensation to third parties in respect of financial injury arising due to failure of insured’s product to perform the function or to serve the purpose intended or failure by terms and conditions of a contract.

Event Cancellation Insurance Policy: Under this policy, coverage against cancellation and abandonment shall be provided to the insured. Whereas Legal Liability (Third Party Property Damage and Bodily Injury) cover is optional.

Broad Form Liability: Covers legal liability to pay compensation for personal injury, property damage and advertising liability as well as pay for property damage to any property temporarily in the insured’s physical or legal control.

Product Liability Insurance Policy: The insurer pays compensation for injury or damage arising out of any defects in the products covered under this policy. It also covers the legal cost and expenses incurred in defense.

Public Liability Insurance Act Policy: Covers against legal liability arising out of an accident involving a fortuitous, sudden or unintentional occurrence causing death, injury to any third person or damage to any property.

Public Liability Insurance Policy: This cover applies to both industrial or non-industrial risks wherein the insurer provides compensation for bodily injury or property damage suffered by third parties resulting from the insured’s normal business operations.

Clinical Trial (No-Fault) Insurance: The insurer pays for the damage or bodily injury caused after the Retroactive Date within the Policy Territory and arising out of the business.Clinical Trial (Professional Liability) Insurance: This policy is designed for the Sponsor, Clinical Research Organisation (CRO), Institution or investigator(s), wherein the insurer covers –

  • Personal damages
  • Liability arising out of Material damages
  • Liability arising out of Damages due to breaches of data protection

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