SBI Critical Illness Health Insurance

Critical Illness Insurance Policy by SBI General Insurance provides an extensive cover against sudden illnesses that deprive you of your physical and mental health. The policy provides insurance benefit, only if the insured is alive or survives for more than or equal to 28 days from the date of diagnosis of any of the critical illnesses defined under the policy. A few prime elements of the Critical Illness Insurance Policy includes

• Supreme coverage
• Affordable premium amount
• Coverage for 13 major critical illnesses
• First diagnosis of specific illnesses
• Undergoing for the first time of particular surgical procedures
• Occurrence for the first time of certain medical events 
• Illnesses covered include Cancer of Specified Severity, Kidney Failure Requiring Regular Dialysis, and two others
• Surgical procedures covered include Open Chest CABG, Aorta Graft Surgery, and two others
• Medical events covered include Coma of Specified Severity, Total Blindness, and three others

Critical Illness Insurance Policy is definitely a supreme choice you should opt for to save yourself from the pressure of handling unexpected medical expenses and keep the critical situation under your control. Apart from the prime features that the policy has to offer, also present are a few key aspects that make Critical Illness Insurance complete. The list comprises of - 

• Lifelong renewability feature 
• Simple and hassle-free claim process
• Grace period of 30 days for policy renewal
• Free look period of 15 days
• Tax benefits under Section 80D of the Income Tax Act, 1961

Be it from the policy coverage or premium to be paid viewpoint, Critical Illness Insurance Policy proves to be the perfect help for those looking for financial support when diagnosed with a critical illness.

If interested in purchasing this critical illness cover, it is advisable to choose the online mode instead of the offline option to allow quick issuance of the policy. You can select InsuranceDekho as the purchase platform to gain not only the benefit of making the process quick but also be part of other benefits such as policy transparency, policy portability, claim settlement support, and others.

After purchasing the SBI General Critical Illness Policy, deduction under 80D of income tax is available from the taxable income for the premium you pay towards the policy. Below are the details about the tax benefits:

• A maximum of Rs. 25,000 amount can be saved for self, spouse and dependent children
• A maximum of Rs. 25,000 can be saved in case of parents
• If parents are senior citizens, a maximum of Rs. 30,000 can be saved

Yes, the portability feature is available. You can port any other policy into your SBI Critical Illness Insurance Policy. But, portability is applicable only within similar products. You’re able to port your existing critical illness policy into your SBI Critical Illness Insurance Policy. 

Any congenital conditions or illness is not covered in this policy. So, if you have an existing heart-related ailment or other related conditions, it will not be covered under the Critical Illness Insurance Policy of SBI General. 

There are some restrictions when it comes to the sum insured in the Critical Illness Insurance Policy.

• If the insured person is the earning member of the family, the sum insured would be a maximum of Rs. 50,00,000 or there would be a restriction to 60 months gross income for the Insured. In such a case, the insurer may insist you on showing proof of income if required.

• If the insured person is the non-earning member of the family, then the sum insured would be restricted to 50% of the Sum Insured based on Proposer Income. The maximum amount would be Rs. 10 Lakh.

• On the other hand, if the insured person is aged 60 years or above, and is taking the policy for the first time, then the maximum sum insured would be restricted to Rs. 15,00,000.