SBI General Insurance launches Health Alpha: Check Details

SBI General Insurance has unveiled its latest retail health insurance product, Health Alpha. This plan is positioned as a highly flexible and modular policy for customers looking to tailor coverage around their personal and family health needs. This insurance product would allow people to “build their own plan” rather than settle for one-size-fits-all coverage.

The policy offers a wide range of insured sums, from Rs 5 lakh to unlimited coverage, and permits long-term policy options of up to five years. Customers can also avail of tenure-based discounts to help offset rising medical inflation. The entry age for adults is 18 (with no upper limit), and for children, it is 91 days to 25.

The health plan has some industry-first add-ons; for instance, the Gym and Sports Injury Cover provide outpatient benefits for injuries from routine fitness or recreational sports, covering specialist consultations, diagnostics, prescribed medicines, and physiotherapy.

Another offering, Plan Ahead, allows for a waiting period to be continuous for newly married spouses and newborns enrolled within 120 days of marriage or birth.

Under the Unlimited Sum Insured option, claims of any amount can be settled (subject to policy terms), while the Endless Sum Insured benefit covers a single large hospitalisation claims beyond the base sum insured once during the policy’s lifetime. Additionally, customers can earn up to 10x cumulative bonuses annually under the add-on if no claims are made.

The health plan also provides coverage for conventional benefits like:

• Pre- and post-hospitalisation cover

• AYUSH treatment

• Critical illness protection

• Hospital daily cash and global cover

However, it is important to know that each coverage component is optional, allowing buyers to choose only what they need. Customers can also modify sub-limits or waiting periods.

While SBI General did not disclose fixed premium rates, the company stated that pricing will vary depending on the sum insured, age, and chosen plan variant.

As with most health insurance plans, certain exclusions apply. The key exclusions of this plan are:

• Obesity-related treatments

• Cosmetic surgery

• Gender transition procedures

• Substance abuse.

• Treatments for infertility, unproven therapies, or adventure sports are also not covered unless specific riders are chosen.

With rising healthcare costs and more customers seeking tailored coverage, modular products like these are increasingly being seen as the next step in mainstream health insurance offerings.