SBI General Insurance Company has announced that it will stop offering its Arogya Plus policy starting October 5, 2024. This decision means that the policy will no longer be available to customers after this date.

Important Notice for Policyholders

According to regulations, insurance companies must notify their customers at least 90 days before withdrawing a policy. This rule ensures that policyholders have enough time to make necessary arrangements.

Options for Current Policyholders

If you currently hold an Arogya Plus policy, you will have the option to switch to a different health insurance policy offered by SBI General Insurance. These options include the comprehensive Super Health Insurance policy or any other individual health insurance products available with the company, including the Standard Product.

What Was Arogya Plus?

The Arogya Plus policy provided coverage up to a certain sum insured at a fixed premium rate. This fixed premium did not change based on the age of the insured person or their family composition. The policy was available in three forms:

1. Individual Basis: Coverage for one person.
2. Family NonFloater Basis: Separate coverage for each family member.
3. Family Floater Sum Insured Basis: A combined coverage amount that could be used by any family member.

Additionally, the policy did not have any limits on room rent or charges related to the age of the insured.

Why Is the Policy Being Withdrawn?

SBI General Insurance explained that the decision to withdraw the Arogya Plus policy is part of their effort to constantly review and improve their product offerings. The company aims to better meet the evolving needs of its customers.

About Super Health Insurance

The Super Health Insurance policy offers a wide range of benefits designed to cover various healthcare needs and ease the financial burden associated with hospital stays and medical expenses. Key features of this product include:

 Coverage for All Daycare Procedures or Surgery: This means that even treatments or surgeries that do not require an overnight hospital stay are covered.
 Preventive Health Checkups: The policy includes regular health checkups to catch any potential health issues early.
 Claims Shield: This feature helps protect your claims history.
 Coverage for NonMedical Expenses: Items like gloves and attendant charges, which are not typically covered by standard health insurance, are included.
 Reinsure Benefit: This provides unlimited refills of the sum insured at no extra cost, ensuring you always have coverage when you need it.

The Super Health Insurance policy is designed to offer comprehensive healthcare coverage at affordable rates, making it accessible to a wider range of customers.

About SBI General Insurance

SBI General Insurance was established in 2009 and currently has over 143 branches across India. The company has shown significant growth, with a nearly 16% increase in Gross Direct Premium Income (GDPI) in the fiscal year 2024, reaching Rs 12,553.57 crore. This growth has also led to a slight increase in the company's market share, from 4.22% in the previous fiscal year to 4.33% in FY24.

SBI General Insurance is withdrawing the Arogya Plus policy to better align its product offerings with the needs of its customers. Policyholders will have the opportunity to switch to other comprehensive health insurance policies that provide extensive coverage and benefits. The company continues to grow and expand its market presence, ensuring it can serve its customers effectively.

By making these changes, SBI General Insurance aims to enhance the value and effectiveness of its insurance products, ultimately providing better protection and peace of mind to its policyholders.

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