SBI Corona Rakshak Policy How to get How to Claim Full Details

SBI Corona Rakshak Policy How to get How to Claim Full Details

Any health problem may disturb the financial planning of an individual. Corona Rakshak Policy, SBI General Company Limited provides lumpsum benefit to the person who is hospitalised and diagnosed with COVID.

Who can buy this SBI Corona Rakshak policy?

Corona Rakshak Policy can be bought by any individual between the age of 18 years to 65 years on Individual and Family individual basis.

What Does The Policy Cover?

Lump sum benefit equal to 100% of the Sum Insured, shall be payable on positive diagnosis of COVID, requiring hospitalization for a minimum continuous period of 72 hours. The positive diagnosis of COVID shall be from a government authorized Diagnostic Centre.

Note:

Payment will be made only on Hospitalisation for a minimum continuous period of 72 hours following positive diagnosis for COVID.

This is a one-time benefit applicable for the entire tenure of the Policy and shall terminate upon payment of this benefit.

Period of Policy and Waiting Period:

The policy can be issued for Three and a half months (3 '/z months), Six and a half months (6 '/z months) A Nine and half months (9 '/z months)

The Company shall not be liable for any claim arising for COVID within 3.5 days from the first policy commencement date.

Exclusions

The Company shall not be liable to make any payment under the policy, in respect of any expenses incurred in connection with or in respect of:

1. Investigation A Evaluation(Code- ExcI04)

a) Expenses related to any admission primarily for diagnostics and evaluation purposes

b) Any diagnostic expenses which are not related or not incidental to the current diagnosis and treatment.

2. Any diagnosis which is not related and not incidental to COVID is not covered in this Policy

3. Testing done at a Diagnostic Centre which is not authorized by the Government, shall not be recognized under this Policy

4. Any claim with respect to COVID manifested prior to commencement date of this policy or during the waiting period

5. Cover under this Policy shall cease if the Insured Person travels to any country placed under travel restriction by the Government of India.

What is the Claims Procedure?

1. The Company shall settle or reject a claim, as the case may be, within 30 days from the date of receipt of last necessary document
2. In the case of delay in the payment ofa claim, the Company shall be liable to pay interest from the date of receipt of last necessary document to the date of payment of claim at a rate 2% above the bank rate
3. However, where the circumstances of a claim warrant an investigation in the opinion of the Company, it shall initiate and complete such investigation at the earliest in any case not later than 30 days from the date of receipt of last necessary document. In such cases, the Company shall settle the claim within 45 days from the date of receipt of last necessary document
4. iv. In case ofdelay beyond stipulated 45 days, the company shall be liable to pay interest at a rate of 2% above the bank rate from the date of receipt of last necessary document to the date of payment of claim.

Premium Chart (Inclusive of GST)

 

		Age Band	Sum Insured In Rupees Premium Chart
			50,000	1,00,000	1,50,000	2,00,000	2,50,000
18-49 yrs.			525	1,050	1,575	2,101	2,626
50-65 yrs.			670	1,341	2,011	2,682	3,352

 

		Age Band	Sum Insured In Rupees
			50,000	1,00,000	1,50,000	2,00,000	2,50,000
18-49 yrs.			963	1,926	2,888	3,851	4,814
50-65 yrs.			1,229	2,458	3,688	4,917	6,146

 

		Age Band	Sum Insured In Rupees
			50,000	1,00,000	1,50,000	2,00,000	2,50,000
18-49 yrs.			1,313	2,626	3,939	5,251	6,564
50-65 yrs.			1,676	3,352	5,028	6,705	8,381

Please Note: Above rates are including 18% GST

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