SBI Loan Insurance Policy

SBI Loan Insurance policy offers comprehensive coverage to the policyholder and helps them to repay their loan in case of medical emergencies arising due to critical illnesses or accidents, that lead to loss of job or death.

The plan proves to be useful in meeting the primary cause affecting loan repayment and relieves the policyholder from the stress of debt dealing. Read along to explore more about the plan.

SBI Loan Insurance Policy Specifications

To understand SBI Loan Insurance Policy Insurance in detail, take a look at the below table:

Entry Age

18 years to 65 years

Policy Type

Individual

Sum Insured

1 Crore

Initial Waiting Period*

90 Days

Renewability

Policy Term

1/2/3 Years

*Initial Waiting Period is the time period between the issuance of the policy and the time it starts actively. During this period, a policyholder has to wait to avail of the benefits offered under a health insurance plan.

Read more specifications in the brochure.

SBI Loan Insurance Plan Coverage

Before buying SBI Personal Loan Protection Insurance, you should have an understanding of what you will get under the plan. With comprehensive coverage, you can ensure that your family doesn't have to worry about your outstanding loans in your absence.

Take a look below to explore the coverage offered by the SBI Loan Insurance plan:

Critical Illnesses

The plan covers 13 critical illnesses and pays the Outstanding Loan Amount or Sum Insured based on the option chosen by the policyholder. The critical illnesses covered are

A. The first diagnosis of the below-mentioned Illnesses is more specifically described below:

Cancer of Specified Severity
Kidney Failure Requiring Regular Dialysis
Primary Pulmonary Arterial Hypertension
Multiple Sclerosis With Persisting Symptoms

B. Undergoing for the first time the following surgical procedures, more specifically described below:

Major Organ/ Bone Marrow Transplant
Open Chest CABG
Aorta Graft Surgery
Open Heart Replacement or Repair of Heart Valves

C. Occurrence for the first time of the following medical events more specifically described below:

Stroke Resulting in Permanent Symptoms
First Heart Attack of Specified Severity
Coma of Specified Severity
Total blindness
Permanent Paralysis of Limbs

Exclusions:

Any pre-existing illness.
Any critical illness discovered within 90 days of the policy.
Self-medication or unauthorized treatment.
Congenital illness or defects and/or treatment administered for them.
Hormone Replacement Therapy; contraceptive procedures.
Gender change or cosmetic surgery or treatment/procedures associated with the same.

Personal Accident

The plan pays out the outstanding loan amount or sum insured based on the option chosen by the policyholder in case of the death or permanent total disablement that occurred due to an accident.

Exclusions:

Payment under more than one category specified i.e death or permanent total displacement.
Any infirmity/conditions existing before the inception of the policy.
Persons learning to operate an aircraft or operating as a crew or participating in adventure sports including winter sports, hazardous activities, and the like.
Death or permanent total disability arising out of illness.
Venereal diseases or insanity.

Loss Of Job

The plan pays out a maximum of 3 EMIs in the unfortunate event of temporary unemployment dismissal or retrenchment.

Exclusions:

Termination, dismissal, temporary suspension, or retrenchment due to fraud dishonesty, or poor performance.
Businessmen; self-employed persons.
Employees on a casual, temporary or contractual basis.
Unemployment due to resignation, retirement whether voluntary or otherwise.
Unemployment at inception or arising within the first 90 days of Inception.

SBI Health Insurance Network Hospital List

SBI Health Insurance Network Hospitals are present in 31 states nationwide. With a wide network of hospitals, SBI Health Insurance ensures that you are medically secured, irrespective of the city you reside in.

Delhi

Mumbai

Bengaluru

Chennai

Kolkata

Hyderabad

Pune

Ahmedabad

Jaipur

Lucknow

Know More About Network Hospital

SBI Loan Insurance Plan Exclusions

War, invasion; acts of terrorism, riot, malicious damage or such similar perils.

Nuclear perils; ionizing radiations

Drug abuse or alcoholism.

Self-inflicted injury attempted suicide or suicide.

HIV/AIDS

Consequential loss or indirect expenses of animal bite.

Explore other SBI Health Insurance

To cater to the different medical needs of an individual & their family, SBI Health Insurance offers several Health Plans ranging from senior citizen plans to specialized plans for autistic children, to health insurance for cardiac patients, and many more.Take a look below to SBI Health Insurance plans explore more:

Individual

SBI Divyanga Suraksha Policy

Would you believe if we say that the SBI Divyanga Suraksha health insurance plan provides healthcare for people with disability or any pre-existing HI...

Unique Features

Covers in-patient treatment
HIV/AIDS cover
Power against disability

SBI Divyanga Suraksha Policy (Pros)

Pre and post-hospitalization
Medical treatment
Daycare procedures
Cataract cover

SBI Divyanga Suraksha Policy (Cons)

Domiciliary hospitalization
Vaccination
Health check-ups
Global coverage

SBI Divyanga Suraksha Policy (Other Benefits)

Modern treatment cover
In-patient treatment
AYUSH care
PEDs cover

SBI Divyanga Suraksha Policy (Eligibility Criteria)

Entry age: 18 o 65 years
SI: 4 & 5 Lakhs
Initial Waiting Period: 30 days

Individual and Family Health Insurance

Arogya Premier Policy

SBI Arogya Premier Policy is a comprehensive health insurance plan that is designed to protect you and your family from uncertain medical expense...

Unique Features

Plan Specifications
Eligibility
Inclusions and Exclusions

Arogya Premier Policy (Pros)

In-patient hospitalization expenses
Pre and post-hospitalization
AYUSH treatments
Maternity expenses

Arogya Premier Policy (Cons)

Daily hospital cash cover
Newborn baby cover
Global coverage
Compassionate visit unavailable

Arogya Premier Policy (Other Benefits)

Mental illness cover
HIV/AIDS cover
Internal congenital diseases
Genetic disorders

Arogya Premier Policy (Eligibility Criteria)

Entry Age: 3 Months to 65 Year
Sum Insured: 10 to 30 Lakhs
Initial Waiting Period: 30 days

Individual and Family Health Insurance

Arogya Plus Policy

SBI Arogya Plus policy is a fixed premium plan that offers financial protection to you and your family during a medical emergency. The plan provi...

Unique Features

What is Arogya Plus?
Know the Eligibility Criteria
Premiums Sample Illustration

Arogya Plus Policy (Pros)

OPD cover
In-patient hospitalization
Pre & post hospitalization

Arogya Plus Policy (Cons)

Newborn baby cover
Vaccination
Compassionate travel
Organ donor cover unavailable

Arogya Plus Policy (Other Benefits)

AYUSH treatment
Domiciliary hospitalization
HIV/AIDS cover
Mental illness cover

Arogya Plus Policy (Eligibility Criteria)

Entry Age: 3 Months to 65 Years
Sum Insured: 1/2/3 L
Policy term: 1/2/3 years
Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Arogya Top-Up Policy

SBI Arogya Top-up Policy is a health insurance top-up policy that is designed to provide additional coverage to policyholders when their standard...

Unique Features

Enhanced coverage
Eligibility criteria
Key features

SBI Arogya Top-Up Policy (Pros)

In-patient hospitalisation
Pre & post hospitalisation
Ambulance cover

SBI Arogya Top-Up Policy (Cons)

Global coverage
Air ambulance
Compassionate visit
OPD cover unavailable

SBI Arogya Top-Up Policy (Other Benefits)

Organ donor expenses
Domiciliary treatment
Modern treatment

SBI Arogya Top-Up Policy (Eligibility Criteria)

Entry age: 3 months to 65 years
SI: 1 to 50 Lakhs
Policy term: 1/2/3 years
Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Arogya Sanjeevani Policy

SBI Arogya Sanjeevani Policy is a standard health insurance policy that comes with an affordable premium and offers a bucket full of benefits to ...

Unique Features

Affordable Health Plan
Eligibility Criteria
Inclusions and Exclusions

SBI Arogya Sanjeevani Policy (Pros)

In-patient hospitalization
Pre and post-hospitalization care
ICU expenses
Daycare treatment
Up to 12 advanced treatments

SBI Arogya Sanjeevani Policy (Cons)

Modern treatment unavailable
OPD not covered
Domiciliary hospitalization unavailable

SBI Arogya Sanjeevani Policy (Other Benefits)

Deep Brain Stimulation
Balloon Sinuplasty
Oral Chemotherapy
Intra Vitreal Injections

SBI Arogya Sanjeevani Policy (Eligibility Criteria)

Entry Age: 18 to 65 Years
SI: 50K to 1 Lakhs
Initial waiting period: 30 days

Critical Illness Health Insurance

SBI Critical Illness Policy

SBI Critical Illness Insurance Policy offers you financial protection from 13 important critical illnesses, this policy offers a fixed sum, irrespect...

Unique Features

Coverage for Cancer
Eligibility Criteria
Inclusions and Exclusions

SBI Critical Illness Policy (Pros)

13 critical illnesses
COVID- 19 covered
Air ambulance services

SBI Critical Illness Policy (Cons)

Maternity cover
OPD and daycare unavailable
Global cover unavailable

SBI Critical Illness Policy (Other Benefits)

Emergency medical cover
No Maximum age limit
SI up to 10 L

SBI Critical Illness Policy (Eligibility Criteria)

Entry age: 5 years to No limit
SI: 3 to 10 Lakhs
Initial waiting period: 90 days

Individual

SBI Loan Insurance Policy

SBI Loan Insurance policy offers comprehensive coverage to the policyholder and helps them to repay their loan in case of medical emergencies ari...

Unique Features

Loan repayment benefits
Plan details
Inclusions and exclusions

SBI Loan Insurance Policy (Pros)

Pays out max 3 EMIs
Pays outstanding loan
PTD benefits

SBI Loan Insurance Policy (Cons)

Drug abuse or alcoholism
HIV/AIDS
Self-inflicted injury

SBI Loan Insurance Policy (Other Benefits)

Accidental cover
Critical illnesses cover
Loss of job cover

SBI Loan Insurance Policy (Eligibility Criteria)

Entry Age: 18 to 65 years
SI: 1 Crore
Initial waiting period: 90 days

Individual and Family Health Insurance

SBI Arogya Supreme Policy

SBI Arogya Supreme health plan is a diverse insurance plan that provides a solution for all your healthcare needs. It covers 20 basic covers and 8 opt...

Unique Features

Complete protection
Choose SI
Choose policy tenure

SBI Arogya Supreme Policy (Pros)

Domestic Air Ambulance Cover
Compassionate Benefit
Recovery Benefit

SBI Arogya Supreme Policy (Cons)

Automatic restoration
Maternity cover unavailable
Newborn baby cover
2nd medical opinion not covered

SBI Arogya Supreme Policy (Other Benefits)

E-Opinion Cover
Preventive Health Check-up
Renewal Benefit

SBI Arogya Supreme Policy (Eligibility Criteria)

Entry age: 18 to 65 years
Sum Insured 3 L | 5 L | 7.5 L | 10 L | 15 L | 30 L | 40 L | 50 L | 1 Cr
Policy Term 1/2/3 Years
Initial Waiting Period 30 Days

Group Health Insurance

SBI Group Health Insurance

SBI Group Health Insurance is a comprehensive plan, as it provides wider coverage to its customers as well as their family members. Group health insur...

Unique Features

High Sum Insured
Easy Policy Renewal
10% copayment

SBI Group Health Insurance (Pros)

In-patient hospitalization
Daycare treatments
Co-payment clause

SBI Group Health Insurance (Cons)

Room rent unavailable
OPD not covered
Organ donor expenses
Modern treatment unavailable

SBI Group Health Insurance (Other Benefits)

Ambulance expenses
Pre & post-hospitalisation
Policy renewal benefits

SBI Group Health Insurance (Eligibility Criteria)

Entry age: 18 to 65 years
Sum insured: 1 to 5 Lakhs
Initial waiting period: 30 days

Individual and Family Health Insurance

SBI Health Edge Policy

SBI Health Edge is a newly introduced health insurance plan from SBI Health Insurance which is customizable and is available to insurance holders...

Unique Features

Avail Global Treatment
Multiple Discounts
18 Optional Covers

SBI Health Edge Policy (Pros)

In-patient hospitalization
Pre and Post-hospitalization
Daycare treatments
Emergency ambulance cover

SBI Health Edge Policy (Cons)

Organ donor
Compassionate visit
Domiciliary hospitalization

SBI Health Edge Policy (Other Benefits)

Bariatric Surgery Cover
Modern Treatments
AYUSH Treatments
Health Check-ups

SBI Health Edge Policy (Eligibility Criteria)

Entry Age: 18 to 65 Years
SI: 3 to 25 Lakhs
Initial waiting period: 30 days

Individual and Family Health Insurance

Super Health Policy

SBI Super Health Plan is SBI Health Insurance's new comprehensive health insurance plan. The plan is an umbrella health plan that provides all-in...

Unique Features

Unlimited Re-insure Benefit
Wellness Benefits
Annual Health Check-ups

Super Health Policy (Pros)

Tax benefit
Reinsure benefit
Health multiplier
Optional covers

Super Health Policy (Cons)

Cosmetic treatment
Injury due to illegal activities
Unlawful activities
Adventure sports injuries

Super Health Policy (Other Benefits)

OPD expenses
International treatment
SI up to 2 Crores
Flexible premium payments

Super Health Policy (Eligibility Criteria)

Min entry age: 18 Years
Max entry age: 65 Years
Initial Waiting Period: 30 Days
Sum Insured: Up to 2 Cr

SBI Loan Insurance Policy: FAQs

1. What is the SBI Loan Insurance policy?

SBI Loan Insurance policy is designed to offer you complete coverage as well as to help you repay your outstanding loan in case of medical emergencies arising due to critical illnesses or accidents, that lead to loss of job or life.

2. How many critical illnesses are covered under SBI Loan insurance policies?

The plan covers up to 13 critical illnesses, namely: Cancer of specified severity Kidney failure requiring regular dialysis Primary pulmonary arterial hypertension Multiple sclerosis with persisting symptoms Major organ/bone marrow transplant Open chest CABG Aorta graft surgery Open heart replacement or repair of heart valves Stroke resulting in permanent symptoms First heart attack of specified severity Coma of specified severity Total blindness Permanent paralysis of limbs

3. Do I need to undergo a pre-medical checkup before buying an SBI Loan Insurance policy?

No, there is no need to undergo a pre-acceptance health check-up if the insured is less than 55 years old and chosen 1 crore as the sum insured.

4. Does the SBI Loan Insurance Policy offer any grace period in case I forgot to pay my premium?

Yes, the SBI Loan Insurance policy offers a grace period of 30 days in case premium payment is delayed.

SBI Loan Insurance Policy

SBI Loan Insurance Policy Specifications

Entry Age

Policy Type

Sum Insured

Initial Waiting Period*

Renewability

Policy Term

SBI Loan Insurance Plan Coverage

Critical Illnesses

Personal Accident

Loss Of Job

SBI Health Insurance Network Hospital List

Delhi

Mumbai

Bengaluru

Chennai

Kolkata

Hyderabad

Pune

Ahmedabad

Jaipur

Lucknow

SBI Loan Insurance Plan Exclusions

Explore other SBI Health Insurance

SBI Divyanga Suraksha Policy (Pros)

SBI Divyanga Suraksha Policy (Cons)

SBI Divyanga Suraksha Policy (Other Benefits)

SBI Divyanga Suraksha Policy (Eligibility Criteria)

Arogya Premier Policy (Pros)

Arogya Premier Policy (Cons)

Arogya Premier Policy (Other Benefits)

Arogya Premier Policy (Eligibility Criteria)

Arogya Plus Policy (Pros)

Arogya Plus Policy (Cons)

Arogya Plus Policy (Other Benefits)

Arogya Plus Policy (Eligibility Criteria)

SBI Arogya Top-Up Policy (Pros)

SBI Arogya Top-Up Policy (Cons)

SBI Arogya Top-Up Policy (Other Benefits)

SBI Arogya Top-Up Policy (Eligibility Criteria)

SBI Arogya Sanjeevani Policy (Pros)

SBI Arogya Sanjeevani Policy (Cons)

SBI Arogya Sanjeevani Policy (Other Benefits)

SBI Arogya Sanjeevani Policy (Eligibility Criteria)

SBI Critical Illness Policy (Pros)

SBI Critical Illness Policy (Cons)

SBI Critical Illness Policy (Other Benefits)

SBI Critical Illness Policy (Eligibility Criteria)

SBI Loan Insurance Policy (Pros)

SBI Loan Insurance Policy (Cons)

SBI Loan Insurance Policy (Other Benefits)

SBI Loan Insurance Policy (Eligibility Criteria)

SBI Arogya Supreme Policy (Pros)

SBI Arogya Supreme Policy (Cons)

SBI Arogya Supreme Policy (Other Benefits)

SBI Arogya Supreme Policy (Eligibility Criteria)

SBI Group Health Insurance (Pros)

SBI Group Health Insurance (Cons)

SBI Group Health Insurance (Other Benefits)

SBI Group Health Insurance (Eligibility Criteria)

SBI Health Edge Policy (Pros)

SBI Health Edge Policy (Cons)

SBI Health Edge Policy (Other Benefits)

SBI Health Edge Policy (Eligibility Criteria)

Super Health Policy (Pros)

Super Health Policy (Cons)

Super Health Policy (Other Benefits)

Super Health Policy (Eligibility Criteria)

SBI Loan Insurance Policy: FAQs

1. What is the SBI Loan Insurance policy?

2. How many critical illnesses are covered under SBI Loan insurance policies?

3. Do I need to undergo a pre-medical checkup before buying an SBI Loan Insurance policy?

4. Does the SBI Loan Insurance Policy offer any grace period in case I forgot to pay my premium?

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