SBI Health Alpha: New health insurance plan offers 50 options after GST cut; check key features

SBI General Insurance has launched Health Alpha, a retail health insurance product with more flexibility and over 50 coverage options.

In a statement, SBI General Insurance said, "Health Alpha embodies the ethos of Your Health. Your Cover. Your Way, empowering customers to create personalized health plans that suit their lifestyle and healthcare requirements."

SBI Health Alpha features

SBI Health Alpha offers a wide range of sum insured options ranging from ₹5 lakh to unlimited sum insured. Policyholders can opt for a long-term policy option of up to five years to safeguard themselves from medical inflation while enjoying tenure-based discounts.

The entry age to purchase the plan is 18 years to no restriction for adults and 91 days to 25 years for children.

Health Alpha also offers a range of personalized coverage options. Some other key features of Health Alpha plan are below:

• Up to 10x Cumulative Bonus: This is an add-on cover with up to 10x cumulative bonus annually, if no claim is made under the policy.

• Unlimited Sum Insured: Base Sum Insured of the policy will be unlimited. A claim of any amount will become payable, subject to Policy terms and conditions

• Endless Sum Insured: It covers hospitalisation expenses for a single claim beyond the Base Sum Insured. This benefit can be availed once in the lifetime of the policy.

• Gym & Sports Injury Cover: This is an add-on which provides OPD benefits for injuries sustained during hobby sports or daily fitness activities, covering specialist consultations, diagnostic tests, prescribed medicines, and physical therapy.

• Plan Ahead: This add-on benefit provides Waiting Period continuity earned by the policyholder to newly married spouse (age up to age 35 years) and/or newborn children (maximum 2 children), provided they are enrolled within 120 days of marriage or birth.

• Welcome Discount: The product offers a “Welcome Discount” of 5%, if the new policy is purchased within 5 days of quote generation.

Along with hospitalisation, the product also offers essential health insurance benefits such as Pre and Post hospitalization cover, Day Care Treatments, AYUSH Treatment, Critical Illness, Hospital Daily Cash, Global Cover, Personal Accident Cover to new coverages like Gym and Sports Injury Cover, Endless Sum Insured, Modifiers and many more.

Health Alpha further allows customers to adjust coverage limits within each benefit, select from multiple sub-limits, and modify waiting periods, ensuring complete flexibility to customize their health plan to individual needs.

“With rising medical costs, securing the right health insurance plan with adequate coverage is more critical than ever. Health Alpha is not just another health insurance plan; it redefines the way people experience health coverage, combining customisation, innovation, and customer-first solutions. With our extensive hospital network and robust claims process, we believe this product will set a new benchmark in empowering individuals and families to take control of their health insurance like never before,” said Mohd. Arif Khan, Deputy Chief Executive Officer of SBI General Insurance.