SBI General Insurance Unveils New Customisable Health Alpha Plan

SBI General Insurance has introduced Health Alpha, a customisable health plan. The product is aimed at offering policyholders flexibility to adjust benefits, coverage amounts, and waiting periods, rather than relying on standardised packages.

Coverage Range

The plan provides sum insured options starting at ₹5 lakh and going up to unlimited coverage. Policyholders can also choose long-term policies of up to five years, which come with tenure-based premium discounts. The plan is open to adults aged 18 years and above, with provisions for children from 91 days to 25 years.

Features of the Plan

Some of the major features include:

• Unlimited Sum Insured with no upper cap on hospitalisation costs, subject to terms.
• 10x Cumulative Bonus, allowing the base cover to multiply in claim-free years.
• Endless Sum Insured, a one-time lifetime benefit extending cover beyond the limit.
• Gym and Sports Injury Cover for outpatient expenses such as consultations, diagnostics, medicines, and physiotherapy.
• Plan Add-on, which transfers waiting period benefits to a new spouse or newborn within 120 days.
• Welcome Discount of 5% if the policy is purchased within five days of quote generation.

Optional Benefits

In addition to the core features, Health Alpha offers over 50 coverage options. Customers can select add-ons such as pre- and post-hospitalisation care, day care treatments, Ayush coverage, critical illness protection, hospital daily cash, global cover, and personal accident benefits. Policyholders can also adjust sub-limits and customise waiting periods.

Relevance for Policyholders

Medical costs in India are rising at an estimated 12-14% annually, making adaptable health insurance important. By offering flexible coverage levels, long-term tenure options, and add-ons for specific needs, the plan seeks to address the varying requirements of individuals and families.

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Conclusion

Health Alpha introduces a model of health insurance where customers can build coverage according to their circumstances. With multiple options and flexible terms, the product expands the choices available in the health insurance market.

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