The SBI General Insurance on Tuesday launched its ‘Health Edge Insurance’, a digital-only health product with a slew of benefits for customers. The entire process, from buying the policy to making claims, is fully digital, thus ensuring minimal paperwork.
Premium & Sum Insured
The policy provides multiple sum insured options, ranging from Rs. three lakh to Rs. 25 lakh, with long-term policy options available for up to 3 years.
The customer can either choose an individual or a family floater policy, which allows addition of family members in the policy such as spouse, children, parents, and parents-in-law, etc.
A family floater policy will allow addition of up to four adults aged between 18 and 65 years, and any number of dependent children aged between 91 days and 30 years.
The policy also allows for discount options, up to 30 per cent if you add more than three members into the policy. After the discount, the total premium of the family floater policy would be Rs. 15,051 with a sum insured of Rs. 5 lakh for the entire family.
Coverage
The Heath Edge plan provides comprehensive coverage of in-patient hospitalisation for up to 24 hours, pre-hospitalisation medical expenses up to 30 days, post-hospitalisation medical expenses up to 60 days and day-care treatment.
Further, it covers expenses for emergency road ambulance services during hospitalisation. In addition, it will cover costs listed in the bariatric surgery section, up to Rs. 50,000, and AYUSH treatment. It also offers a ‘Stay Fit Health Check-up’ benefit for preventive tests up to Rs. 5,000.
Optional Covers
SBI General Insurance’s whole time director Anand Pejawar said customers can design their own plan according to personal requirements with this product.
Customers can select from 18 optional covers, including domestic help/ staff indemnity, hospital daily cash, accidental death cover, unlimited refill, critical illness cover and more. Domestic help/ staff indemnity is “the health insurance coverage for domestic helpers and staff who are part of your family,” he said.
Besides, the policy has optional feature like unlimited refills for both related and unrelated illnesses to eliminate concerns of running out of health insurance.
Under critical illness cover, a lump sum pay-out of Rs. three lakh is made to adult family members if they are diagnosed with any listed critical illness after a waiting period of 90 days. The waiting period is the time you need to wait before claiming the insurance benefits after buying the policy on preexisting conditions.
Maternity expenses coverage is only available as an optional feature. Medical expenses incurred up to Rs. 25,000 for normal delivery and Rs. 50,000 for C-section are covered. Pre- and post-natal medical expenses incurred during hospitalisation for the delivery of the child during the policy period, are also included, subject to a waiting period of 48 months.
Further, the policy has a special “global treatment” cover that takes care of the medical expenses incurred towards inpatient care outside India. This includes coverage for medical treatment worldwide for 16 listed illnesses diagnosed in India. Another noteworthy feature is the outpatient department (OPD) cover, which guarantees the medical expenses incurred for allopathic OPD expenses, including diagnostics and pharmacy, for both floater and individual policies.
