SBI General Insurance has launched a health insurance product exclusively for the customers of State Bank of India (SBI) and its associate banks.
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Bhaskar Sarma, MD &CEO, SBI General Insurance said, "In India where less than 15% of the population has some form of health insurance coverage, there is an urgent need to ramp up the health insurance coverage in the Country. The need of the hour is affordable health insurance that can be easily understood and is available to all. In times of rising health care costs, a sudden illness or injury can leave anyone financially devastated and highly stressed. With SBI General’s affordable Group Health Insurance Policy customers are covered from any financial exigencies rising out of medical emergencies."
Less than 15% of India’s 1.1 billion people are covered with health insurance. Over 80% of health financing is private financing, most of which is out of pocket payments and not by any pre-payment schemes - one of the highest in the world.
Health insurance is not a priority investment in India; Customers are yet to accept health insurance as a financial tool for medical emergencies. They usually procrastinate when it comes to buying health insurance unless faced with an emergency. Customers are fully aware of the benefits health insurance entails and believe it to be a wasteful expenditure. SBI General Group Health Insurance Policy is an attempt to overcome this concern with low premiums, a comprehensive cover and ease of buying.
Source: Economic Times
Source-Medindia