SBI General Health Insurance vs New India Assurance Health Insurance

Do you want to buy health insurance but are operating on a water-tight schedule? Why go through the hassle of visiting different insurance companies on their portals when you can get a comparison guide highlighting their best features right here. 

Check out this brief study on three of SBI General Health Insurance and New India Assurance Health Insurance’s outstanding health insurance policies to speed up the buying process. 

SBI General Health Insurance vs New India Assurance Health Insurance – Overview 

Parameter  SBI General Health Insurance New India Assurance Health Insurance
No. of health insurance policies 10+ 10+
E-services Policy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer support Policy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 customer help
Branches 22,000+ 1000+
Claim settlement ratio  59.42% 95.92%
Network Hospitals  6,000+ 1,500+

*Source: The Annual Report of the Insurance Regulatory and Development Authority of India (IRDAI) –years 2019-20. 

Health insurance policies: SBI General Health Insurance vs New India Assurance Health Insurance 

SBI General Health Insurance and New India Assurance Health Insurance are both leading insurance companies. While SBI General Health Insurance is a part of the State Bank of India Group with decades of experience, New India Assurance Health Insurance is the only internationally-A-rated insurer of India that offers it a close competition with 100 years of experience. Both insurers offer over 10 health insurance policies that provide extensive coverage. 

Top-up Insurance Policy: 

SBI General Health Insurance offers the Arogya Top-up Policy. Its features include:

  • Sum insured (SI) amount up to Rs. 50,00,000
  • Deductible amount options up to Rs. 10,00,000
  • Coverage for: 
  • Pre- and post-hospital care
  • In-patient hospital care 
  • Home hospital care 
  • 141 daycare procedures
  • In-patient physiotherapy care 
  • HIV/AIDS treatment
  • Maternity expenses after 9 months 
  • Organ donor expenses
  • Inclusion of alternative treatments such as Ayurveda, Unani, Siddha, and Homeopathy (AYUSH)
  • Ambulance costs up to Rs. 5,000 per hospitalization 

New India Assurance offers the Top-up Mediclaim Policy. Its features include: 

  • SI amounts up to Rs. 22,00,000
  • Deductible amount options up to Rs. 8,00,000
  • Coverage for: 
  • Pre- and post-hospital care 
  • In-patient hospital care
  • Organ donor expenses 
  • AYUSH treatments 
  • Advanced technology treatments 
  • Cataract treatment 
  • Daycare procedures 
  • Inclusion of pre-existing diseases after a 2-year waiting period
  • A post-hospitalization recovery benefit up to Rs. 8,000
  • Ambulance costs up to Rs. 8,000

Personal Accident Policy: 

SBI General Health Insurance’s Personal Accident Policy offers:

  • SI amounts up to Rs. 1,00,00,000
  • 100% of the SI for accidental death and permanent total disability
  • Up to 100% of the SI for permanent partial disability
  • Rs. 10,000 per week for temporary total disability 
  • Rs. 50,000 for the education expenses of the insured’s dependent children 
  • Rs. 25,000 towards the modification/repair expenses of the insured’s vehicle/home 
  • Daily hospital cash benefits up to Rs. 3,000
  • Road and air ambulance expense up to Rs. 1,00,000

New India Assurance’s Personal Accident Policy offers: 

  • SI amounts up to 72 times of the annual income of the insured from gainful employment only 
  • 100% of the SI for accidental death and permanent total disability
  • Up to 50% of the SI for permanent partial disability
  • Weekly cash benefits up to 1% of the SI for temporary total disability 
  • Compensation for the education expenses of the insured’s dependent children 
  • Up to Rs 2,500 for transportation expenses 

COVID-19 Policy: 

As per the Insurance Regulatory and Development Authority of India’s (IRDAI) mandate, all insurance companies across India now offer COVID-19 insurance policies. These policies are standard and share similar features across insurers, including SBI General Health Insurance and New India Assurance Health Insurance. They include the Corona Kavach Policy and the Corona Rakshak Policy. 

The Corona Kavach Policy offers: 

  • SI amounts between Rs.50,000 – Rs.5,00,000
  • Coverage for: 
  • Pre- and post-hospital care 
  • In-patient hospital care 
  • Home hospitalization
  • AYUSH treatments 
  • Comorbidities  
  • Ambulance costs up to Rs. 2,000 per hospitalization 

The Corona Rakshak Policy offers: 

  • SI amounts between Rs. 50,000 – Rs. 2,50,000
  • Full payout of the SI on the positive diagnosis of COVID-19 and a minimum hospitalization of 72 hours. 

However, only SBI Health Insurance offers the Corona Rakshak Policy, whereas both SBI Health Insurance and New India Assurance Health Insurance offer the Corona Kavach Policy.

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