SBI General Health Insurance vs IFFCO Tokio Health Insurance

Maintaining health without a health insurance policy is not only risky but also more expensive. Health Insurance gives you the dual benefit of being prepared in the face of a health crisis and reducing the cost of healthcare. A good health insurance policy provides comprehensive coverage and is value-for-money. Read this SBI Health Insurance versus IFFCO Tokio Health Insurance comparative guide to understand what to look for in a health insurance policy. 

SBI Health Insurance and IFFCO Tokio Health Insurance – Overview 

Parameter	SBI Health Insurance	IFFCO Tokio Health Insurance
Number of health insurance plans	11	13
E-services	Policy sale Policy renewal Claim settlement Online consultation Branch locator 24×7 customer service	Policy sale Policy renewal Claim settlement Online consultation Branch locator 24×7 customer service
Branches	24,000+	20,000+
Claim settlement ratio	59.42%	98.47%
Claim settlement time	Within 30 days of receipt of documents by the policyholder	Within 24 hours
Hospital network	6,000+	5,000+

*Source: IRDAI Annual Report 2018-19 

Health Insurance Policies: SBI Health Insurance versus IFFCO Tokio Health Insurance

SBI Health Insurance offers 11 health insurance policies. They provide coverage for individuals, family, and group (employer-employee) and coverage against critical illnesses and COVID-19.

IFFCO Tokio Health Insurance offers 13 health insurance policies. These plans cover individual, family, and senior-citizen needs. They provide coverage against critical illnesses, accidents, vector-borne diseases and COVID-19; among others. 

On a comparison of 3 of SBI Health Insurance versus IFFCO Tokio Health Insurance’s most availed of insurance policies, the main offerings of both providers come to light. Depending on your needs and budget, you can pick the one that fits both requirements. 

Arogya Sanjeevani Policy: 

SBI Health Insurance has four Arogya Sanjeevani Policies on offer:

• Coverage for pre, post and in-patient hospitalization expenses
• Coverage for domiciliary hospitalization, AYUSH treatment and 142 day-care procedures 
• Waiver of pre-policy medical test for those without adverse medical history and up to 55 years of age
• Policy on an individual and family-floater basis 

IFFCO Tokio Arogya Sanjeevani Policy offers: 

• Coverage for pre, post and in-patient hospitalization expenses
• Coverage for AYUSH treatment and dental treatment caused by disease / injury
• 25% of the sum insured (SI) for cataract treatment
• Policy on an individual and family-floater basis

Critical Illness Policy: 

SBI Health Insurance’s Critical Illness Policy offers: 

• Coverage against 13 critical ailments like cancer, end-stage kidney failure, stroke, etc.
• A sum insured amount up to Rs.50 lakhs
• Waiver of pre-policy medical test for those up to 45 years of age 
• 15-day free-look period

IFFCO Tokio Critical Illness Policy offers: 

• Coverage against 25 critical ailments and surgical procedures like cancer, kidney failure, permanent paralysis, etc.
• A sum insured amount up to Rs.1 crore
• Waiver of pre-policy medical tests for those up to 50 years of age
• Lifelong renewability of policy

Corona Kavach Policy:

Since the onset of COVID-19, the Insurance Regulatory and Development Authority of India has instructed all insurance companies to offer standard health care policies that provide coverage against the disease. These policies are called Corona Kavach and Corona Rakshak policies. Both SBI Health Insurance and IFFCO Tokio Health Insurance offer these policies for 3.5, 6.5, and 9.5 months. Policyholders can avail of the policies on an individual or family-floater basis. 

 SBI Health Insurance’s Corona Kavach Policy offers: 

• Coverage for in-patient hospitalization expenses including room rent, doctor and nursing fees, ICU charges, medication costs etc. 
• 15-day coverage for pre-hospitalization charges and 30-day coverage for post-hospitalization charges
• 14-day coverage for homecare treatment
• Waiver of pre-policy medical test for all age groups
• Newborn cover from day 1 of birth
• Road ambulance cover

IFFCO Tokio Health Insurance Corona Kavach Policy offers:

• Coverage for in-patient hospitalization expenses (up to SI) 
• 15-day coverage for pre-hospitalization charges and 30-day coverage for post-hospitalization charges
• Provision of AYUSH treatment 
• Coverage for telephonic consultation charges
• Coverage for those aged between 1 day – 65 years

The purpose of this SBI Health Insurance and IFFCO Tokio Health Insurance comparative guide is to help you pick a health policy in sync with your needs. For more clarity, you can reach out to professional experts before buying health insurance.