SBI Life – Group Criti9 is a traditional non participating Group Health Plan. This plan provides protection against 9 critical illnesses where Sum Assured is paid in lump sum on diagnosis of any one of covered critical illnesses. So provides you money at time when you need it most.
Key Features:
• Simultaneous safety and protection against 9 Critical Illnesses
• Simplified joining process
• Guaranteed renew ability till 65 years of age
• Tax benefit under section 80D of IT Act, 1961
Critical Illnesses covered:
• Cancer
Heart Attack (Myocardial Infarction)
• Stroke
• Coronary Artery Bypass Surgery
• Kidney Failure (End Stage Renal Disease)
• Major Organ Transplant
• Coma
• Multiple Sclerosis
• Heart Valve Surgery
Eligibility:
This plan is offered to different groups like employee-employer relationship, credit life groups, customers of bank / financial institutions, depositors groups etc.
SBI Life will issue a Group Master Policy to the Group Master Policyholder based on details contained in the proposal form. Group Members may be enrolled either on a voluntary or compulsory participation basis as decided by master policyholder.
Group Size:
• Minimum 50 members
Age:
• Entry from minimum age of 18 yrs till the maximum age of 55 yrs.
Sum Assured:
• Sum assured can be selected in the following ways:
• Uniform for all members
• As a multiples of salary
• As grade wise cover
Minimum sum assured is Rs. 25,000/- and maximum sum assured is Rs. 500,000/-.
Benefits:
Sum Assured is payable in one lump sum on diagnosis of any one of covered critical illness provided:
• Survival for a period of 30 days after the date of diagnosis
• Submission of necessary documents
Waiting Period:
The insured member can avail the benefits after 90 days of the date of commencement or date of revival
Other Policy Details:
• Nomination is compulsory
• Level Premiums payable annually in advance for the cover term.
• Cover Term: Minimum of 2 yrs and maximum of 5 yrs
• Cover can be renewed till 65 yrs of age subject to max cover term of 5 yrs and premium rates / age are reviewed at the time of renewal.
• Grace period of 30 days on annual renewal date
• Revival facility is available within 6 months from the first unpaid premium due date
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