SBI General Insurance has reinforced its health insurance portfolio with affordable product, SBI General Group Health Insurance Policy. This product is available to all SBI Bank account holders and is aimed at presenting to the customers an inexpensive health insurance product, which also offers comprehensive coverage. With an objective to offer economical Health Insurance cover to all, especially the tier II & III cities; SBI General seeks to be the Swasthya Mitra of all Indians.
While talking to mediapersons here on Wednesday, Bhaskar Sarma, MD and CEO, SBI General Insurance, said, “Today less than 15 per cent of India’s 1.1 billion people are covered through health insurance. Over 80 per cent 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.”
He further said that in India where less than 15 per cent 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.” He added.
In India, health insurance is unfortunately not a priority investment; 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, he added.