SBI Life Arogya Shield
SBI Life Arogya Shield plan offered by SBI Life offers the benefits of a term insurance plan along with the benefits of health insurance. It provides you dual benefits in the form of health insurance cover and life insurance cover.
You can financially secure your family members for the future in your absence by using term insurance coverage through SBI Life Aarogya Shield Plan. Also, you can provide coverage to your health through this plan.
Features Of SBI Life Arogya Shield Plan
The features of SBI Life Arogya Shield Plan are as follows-
- SBI Life Arogya Shield offers the benefits of both health and pure term life cover under a single plan.
- SBI Life Aarogya Shield is available at an affordable premium.
- 1,00,000 under health insurance coverage in SBI Life Aarogya Shield; Sum Assured options of Rs 2,00,000 and Rs 3,00,000 are available.
- In this plan, cover of sum insured ranging from Rs 5,00,000 to Rs 25,00,000 is provided under life insurance cover.
- In SBI Life Arogya Shield plan, you get the option of cashless claim for health cover.
- Life insurance premium paid under SBI Life Arogya Shield plan offers tax benefits on income under section 80C of the Income Tax Act, 1961 and section 10(10D) of the Income Tax Act, 1961 as per existing tax laws.
- Tax benefits are available under section 80D of the Income Tax Act, 1961 for the payment of health insurance premium under SBI Life Arogya Shield plan.
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Benefits Of SBI Life Arogya Shield Plan
Following are the benefits of SBI Life Arogya Shield Plan:
- Combi Product:
In this plan, you are provided with a dual protection through the benefit of health insurance cover along with life insurance cover.
Under the life insurance cover, in case of death of the policyholder, your family members are provided with a sum assured of Rs 5,00,000 to Rs.25,00,000 as sum insured.
Health insurance cover seeks to provide you financial protection against medical emergencies. In this, you are provided with health insurance benefits ranging from Rs 1,00,000 to Rs.3,00,000.
- Affordability:
The premiums to be paid for this plan is available at a very affordable rate. Under the health insurance cover, you have to pay the premium in single premium mode and also have the option of renewing it annually. You have to pay regular premiums for life insurance cover. In this, you are also provided a discount of 5% on the premium.
- Hospitalization Cover:
The health insurance cover of SBI Life Arogya Shield covers various expenses related to hospitalization. All the expenses involved in this are provided to you through health insurance cover. It covers all expenses incurred before 60 days of hospitalization and up to 90 days after hospitalization.
- Death Benefit under Life Cover:
In SBI Life Arogya Shield, you are provided with death benefit under the life insurance cover. If the policyholder dies during the policy term, the death benefit is provided to the nominee by the policyholder.
- Tax Benefits:
Life insurance premium paid under SBI Life Arogya Shield plan offers tax benefits on income under section 80C of the Income Tax Act, 1961 and section 10(10D) of the Income Tax Act, 1961 as per existing tax laws.
Tax benefits are available under section 80D of the Income Tax Act, 1961 for the payment of health insurance premium under SBI Life Arogya Shield plan.
SBI Life Arogya Shield Eligibility
SBI Life Arogya Shield Eligibility is as follows-
Eligibility for Health Insurance Coverage
- Minimum Age at Entry- 91 Days
- Maxmimum Age at Entry- 65 Years
- Minimum Policy Term- 1/2/3 Years
- Premium Paying Mode- Single
- Min-Max Sum Assured- Rs.100000; Rs.200000; Rs.300000
Eligibility for Pure Term Life Coverage
- Minimum Age at Entry- 18 Years
- Maxmimum Age at Entry- 65 Years
- Minimum Policy Term- 5 Years
- Maximum Policy Term- 40 Years
- Premium Paying Mode- Regular & Annual
- Minimum Age at Maturity- 23 Years
- Maxmimum Age at Maturity- 70 Years
- Minimum Sum Assured- 5 Lkah
- Maximum Sum Assured- 25 Lakh