SBI General Insurance Car, bike, Health Plans and comparison benefits general.in.
SBI General Overview
The SBI General Insurance Co. Ltd. is a joint venture between State Bank of India and Insurance Australia Group (IAG), wherein, SBI owns 74% of the total capital. With SBI’s wide reach of branches across the nation, SBI General Insurance is gifted with the robust distribution along the SBI channel. The other channels through which SBI General operates are Agency Broking and Retail Direct channels. In total, the SBI General Insurance distribution network includes over 11,000 IRDA certified SBI and its Associate Bank employees and over 4,800 Agents.
Products offered by SBI General Insurance
Insurance for Individuals
1. SBI General Motor Insurance
i. Private Cars – The SBI General Insurance Motor Car Policy is devised to include Third Party Liability in addition to damage to vehicle insured. The policy covers Personal Accident for the owner. Several add-on features like additional legal liability towards paid driver and employee, zero depreciation, bi-fuel kit, loss of personal belongings etc are available at additional premium payment.
ii. Two-wheeler- The SBI General Insurance Motor Two-wheeler Policy is devised to cover risk against third party liability and damage to the vehicle insured. Personal accident cover for registered driver and pillion riders are available for add-ons.
2. SBI General Home Insurance-
Provides Long-Term Home Insurance that covers the risk of damage to the structure of house due to man-made and natural calamities for a period up to 30 years, with inbuilt cover for earthquake damage.
3. SBI General Personal Accident Insurance – Provides cover against loss of life due to accident (death or disability), further classified as
i. Individual Personal Accident Cover- The policy covers the risk of loss due to an accident for self-employed, salaried or business class individuals, includes loss of life due to the accident, disability and income loss due to the accident.
ii. Group Personal Accident Cover- The policy covers death due to the accident. The Group Personal Accident Insurance Policy can be bought by a permanent Indian resident if he/she is the account holder in SBI and its associate banks.
4. SBI General Health Insurance
i. Health Insurance– Provides risk cover against medical expenses, pre-hospitalization and post hospitalization expenses, medical care, child care, nursing attendants for individuals and family ranging from INR 50,000 to 500, 000. The cashless facility in network hospitals.
ii. Critical illness- Covers risk against critical illness, e.g., Cancer, kidney failure, major organ transplant, coma, heart valve surgery, paralysis etc. For details check here http://www.sbigeneral.in
iii. Hospital Daily Cash- The policy covers additional hospital expenses that are not part of the medical cost, such as, food, travel etc.
iv. Health Insurance SBI- Provides individual and family floater options. The minimum sum insured is INR 100, 000. The cashless facility in network hospitals.
v. Loan Insurance- The Loan Insurance Policy is uniquely designed to cover losses against a) Critical Illness b) Personal Accident c) Loss of Employment
5. SBI Travel Insurance
SBI General Travel Insurance provides most comprehensive cover for expenses incurred for medical treatment of illness, a disease contracted or injury sustained during overseas travel. Salient features of the policy include
i. Medical expenses including evacuation and repatriation covered up to INR 500, 000
ii. Personal Accident
iii. Travel support for loss of passport, checked baggage, missed connection, home burglary insurance etc.
iv. Hospitalization daily allowance
v. Hijack cover, trip curtailment etc.
Insurance for Business
SBI General Insurance caters to insurance needs of business and industry with its wide range of policies, as listed below
1. Fire Insurance
2. Health Insurance
3. Motor Insurance
4. Marine Insurance
5. Package Insurance
6. Construction/ Engineering
For policy details, click http://www.sbigeneral.in
SBI General Insurance web portal facilitates online purchase and renewal of various policies.
In its fourth year of operation, Financial Year ending 2013-14, SBI General Insurance registered a growth of 54% with Gross Written Premium of INR 1188 Crores. During the year 2013-14, SBI General went into collaboration with State Bank of India, wherein about 1.5 crores Saving Bank Account holders were covered for Personal Accident Insurance which justifies the above-achieved mark.