Overview
SBI General Insurance was founded in 2009 as a joint venture between Insurance Australia Group (IAG) and State Bank of India. IAG exited the joint venture in October 2019, and SBI now holds a 70% majority stake.
Currently, it operates from 145+ branches and distributes policies through 22,000+ SBI banks.
In this article, we will cover SBI General Insurance health insurance's performance metrics, top health plans, premiums, and contact details.
SBI General Insurance Performance Metrics
Source: This information is sourced from the IRDAI annual reports and SBI General’s public disclosures.
For more data on other insurers, explore Ditto Data Lab.
Note: The complaint numbers here aren't exclusive to health insurance. SBI General publishes a single complaint figure across all its products (health, motor, and others) combined.
Key Insights on SBI General Insurance’s Performance Metrics
- CSR: SBI General’s claim settlement ratio of 95.94% is comfortably above the industry average of 92.02%. That is a strong claims track record and indicates that the insurer settles a high proportion of claims it receives.
- ICR: At 81.32%, SBI General’s incurred claims ratio is almost in line with the industry average of 81.88%. This suggests a healthy balance between premiums collected and claims paid, without the ratio appearing unusually high or low.
- Complaints: SBI General receives 14.03 complaints per 10,000 claims, less than half the industry average of 29.35. That is a positive indicator for overall customer and claims servicing. However, this figure covers complaints across SBI General’s entire business, not health insurance alone.
- Annual Business: SBI General handles around ₹4,974.56 crore in annual health insurance business, above the industry average of ₹4,504 crore. Its sizeable health insurance portfolio gives it meaningful scale in the market, although scale alone should not determine whether you choose an insurer.
- Network Hospitals: With 18,000+ network hospitals, SBI General offers a substantially wider cashless network than our 10,000+ benchmark. This improves the chances of finding a cashless hospital nearby, but you should still verify whether your preferred hospitals are empaneled before buying the policy.
Top Plans Offered by SBI General Insurance
1) SBI Super Health Platinum Infinite
The most premium offering in SBI's lineup. The Super Health series comes in five variants: Premier, Prime, Elite, Platinum, and Platinum Infinite, each offering higher coverage and sum insured.
Key Benefits
- High sum insured (SI) options ranging from ₹50 lakh to ₹2 crore.
- No copayment, no room rent restrictions, no disease-wise sub-limits.
- Multiplier Health Benefit provides 3x of the base sum insured once a year if the insured person is diagnosed with any of the 37 listed critical illnesses.
- Unlimited restoration benefit up to 200% of the base sum insured for any illness.
- In-built maternity coverage up to ₹2 lakh.
- Outpatient Department (OPD) coverage up to ₹10,000 per year for a single adult and up to ₹20,000 for a family.
- Global medical treatment for 16 major procedures, including cancer surgery and heart transplants.
- 2-year waiting period for pre-existing diseases and 1 year for specific illnesses.
Key Drawbacks
- The maternity waiting period is long, especially for individual plans (48 months).
- High SI options and feature-heavy plans lead to very high premiums.
2) SBI Health Alpha
Think of Health Alpha as the build-your-own health insurance. Available in two variants: Alpha Select (basic, lower sum insured options) and Alpha Ultimate (broader coverage, higher limits).
Key Benefits
- Ranges from ₹5 lakh up to unlimited sum insured options for hospitalization cover.
- Option to choose from 35+ optional covers, including critical illness, OPD, hospital daily cash, maternity, global cover, and personal accident.
- Covers modern treatments, including robotic surgeries, stem cell therapy, and other advanced procedures.
- 2-year waiting period for PEDs, with the option to reduce it to 1 year.
- Available for policy tenures of 1, 2, 3, 4, and 5 years.
Key Drawbacks
- The final premiums depend heavily on which add-ons you select.
- Without the right add-on combination, the base coverage can feel thin.
- Benefit-based covers like critical illness and personal accident are only available on an individual basis, not a floater.
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3) SBI General Health Super Top-Up
The Super Top-Up kicks in after your base policy's deductible is exhausted, offering a cost-effective way to increase your overall protection without paying high extra premiums.
Key Benefits
- Comprehensive policy with a variety of add-ons like maternity cover and unlimited restoration.
- SI ranges from ₹5 lakh to ₹4 crore (above your chosen deductible).
- No copayment and no room rent restrictions.
- Pre-hospitalization is covered for 60 days, and post-hospitalization for 90 days.
- Covers domiciliary hospitalization.
Key Drawbacks
- Claims only trigger after the deductible threshold is crossed; small or mid-sized claims may not be covered at all.
Premium Comparison for SBI General Insurance
Note: A stands for adults, and C stands for child. These are indicative base premiums for a Delhi resident (PIN code: 110001). Your premium can change based on age, city, medical history, plan variant, and chosen add-ons.
SBI General Insurance: Contact Details and Address
Customer Support Details
- Toll-Free Number: 1800 102 1111 or 1800 22 1111
- Email: customer.care@sbigeneral.in
- Website: www.sbigeneral.in, https://www.sbigeneral.in/contact-us
- Mobile App: Available on Android and iOS
Registered Office
SBI General Insurance Company Limited, 9th Floor, A & B Wing, Fulcrum Building, Sahar Road, Andheri (East), Mumbai – 400099
Top 10 Health Insurance Companies in India
SBI General Health Insurance ranks 6th among the best health insurance companies in India. Our methodology weighs CSR, complaint volume, business size, and more to arrive at a well-rounded view.
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Conclusion
SBI General is a decent health insurer overall. Here’s how to think about it:
What Works in SBI General’s Favor:
- The claim settlement ratio is genuinely strong and consistent.
- The Super Health Platinum Infinite plan is one of the most comprehensive policies in the market right now. It also features in our best health insurance plans.
Where SBI General Still Needs Work:
- The complaint volume, while improving, remains higher than that of top-ranked insurers such as HDFC ERGO and Bajaj General.
- The insurer also relies on Third-Party Administrators (TPAs) for some claims, which can introduce friction compared to insurers with fully in-house claims teams.
The Bottom Line: If the SBI brand gives you comfort, then it can be a solid pick. Make sure you read the fine print carefully, and check whether your preferred hospital is a part of the cashless network.
Frequently Asked Questions
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