Bangalore, Oct 23 (UNI) SBI Life Insurance, the country's second largest private sector life insurance company, today unveiled 'SBI Life -Group Criti9', a traditional non-participating group health plan.
The new product provides protection against nine types of critical illnesses. The key feature of this plan include a simplified joining process, guaranteed renewability till 65 years of age and prompt lump sum payment on submission of necessary documents on diagnosis of any covered critical illness. SBI Life Managing Director and CEO Uday Shankar Roy told newspersons.
Unlike other health insurance plans, Group Criti9 covers expenses made prior and after the hospitalisation of the insured person, he said.
The critical illnesses included in the plan are cancer, heart attack, stroke, coronary artery bypass surgery, kidney failure (end stage renal disease), major organ transplant, coma, multiple sclerosis and heart valve surgery.
The annual premium for a five year term of Rs one lakh sum assured would be as little as Rs 440 for a member aged 40 years at entry level.
Mr Roy also announced that payment of renewal premium of all insurance plans under SBI Life would now be accepted at SBI branches across the country.
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