The general insurance arm of the State Bank - SBI General Insurance- has ap...
With India having one of the highest out of pocket health care expenses in the world, Mr. Bhaskar J. Sharma – Managing Director and Chief Executive Officer at SBI General Insurance said that there is a need for a health insurance with is evenly priced and affordable for the mass people.
To cater to the above, SBI General Insurance in association with State Bank of Travancore (SBT) launched a low cost affordable health insurance plan for SBT customers. This plan, called SBI General’s Group Health Insurance plan, is exclusively for SBT account holders and their families.
The prominent features of this product are:
- The average cost of the Policy for a coverage of Rs 1 lac for a healthy 35 year old male is approximately Rs 1300 only
- This Plan offers Multiple coverage options
- There is No Pre – medical test upto age of 65 years for people with no medical history
- 142 day care procedures covered under this plan
- Guaranteed renewal upto option
In addition to the above, this policy also offers cover of pre and post hospitalization expenses, has transparent claim process and facilitates cashless treatment over 3,000 hospitals in its network. Hence this plan has been specifically designed for the masses who are under insured keeping the high medical inflation in mind.
Mr. Jeevandas Narayan, Deputy Managing Director – OSD, State Bank of Travancore, said that this low cost and affordable premium policy will provide a much needed cushion to the poor as medical treatment cost rises by 15 – 20% every year, thereby creating a huge hole in the pocket of a Middle Class family. This plan should also address the hugely Out-Of-Pocket medical expenses that happen in the country!