Whether it is a solo trip, family trip or a business trip, an individual would definitely want to ensure their overseas trip turns out as per the plan. Regardless of all that careful planning, there may be some financial and non-financial emergencies that might come your way when you are travelling. SBI Travel Insurance provides a comprehensive travel insurance plan for the insured and his family to travel with peace of mind.
What is SBI Travel Insurance?
SBI Travel Insurance provides cover against various medical and financial emergencies during the trip abroad and helps restore the fun of the trip. It covers the insured and his family against medical and other financial emergencies during the trip abroad.
Types Of SBI Travel Insurance
SBI Travel Insurance offer two options which insured can take either in a worldwide cover or worldwide excluding USA & Canada:
- Single Trip: It can be issued for the period of minimum one day up to a maximum of 180 days
- Multi Trip: It is designed for frequent travellers and can be issued for the period of 1 year. However, Multi Trio cannot be issued for less than and more than one year
Any Indian resident who is undertaking a trip abroad for holiday purpose or business trip can buy this plan. Foreign nationals who are working in India can also buy this plan. However, the age must be from 6 months to 70 years.
SBI Travel Insurance Plans
SBI General Travel Insurance Policy (Business and holiday): It is a comprehensive travel insurance plan providing coverage to an individual against medical and non-medical emergencies during the trip. In this plan, individual can also cover their family.
|Coverage||Benefits (In US $)||Deductibles|
|Medical expenses||50,000-5,00,000||US $100|
|Personal accident||Maximum 25,000||Nil|
|Loss of passport||USD 2000 on floater basis||5% of the claim amount|
|Home Burglary Insurance||USD 2000 on floater basis||5% of the claim amount|
|Emergency Cash advance||USD 2000 on floater basis||5% of the claim amount|
|Trip Delay||USD 2000 on floater basis||5% of the claim amount|
|Personal Liability||50% of the limit of cover||US $100|
How To Apply Online For SBI Travel Insurance?
Buying travel insurance through online is very easy and it can be done in the few steps:
- Click on ‘Travel Insurance’ and it will take you to main page of plan
- On the page, you will see the Get a quote
- Click on it will take you to page where the policy seeker needs to select the travelling country USA/Canada or other country, Single/ Annual Multi trip, Travelling Schedule, Likely Duration per trip and enter other personal details
- Then click on Get quote and if you are satisfied by the premium amount, go ahead and make a payment and policy will be issued
SBI Travel Insurance Claim Process
Travel insurance plan by SBI General Insurance has an easy and quick claim process. The following are the steps to follow to submit a claim under SBI General Travel Insurance (Business and Holiday):
In case of cashless claim
- Insured need to call service provider and request for pre-authorisation by way of the written form prior to taking any treatment.
- Insurance company or service provider upon getting all the required information and upon satisfaction will issue an authorisation letter
- Insured needs to show this authorisation letter to the network provider to get the treatment
- If the above scenario is followed, you will not be required to directly pay for the Medical Expenses in the Network Hospital
- Insured or his representative must inform the insurance company or service provider immediately after the event
- Representative also needs to give information such as nature of illness, accident, or occurrence as is available, including the name of the treating Doctor, name and telephone number of the Hospital, the Policy number and its date of issue
- After the treatment is over, insured needs to submit the policy document, together with invoices, travel documents and any other relevant details for reimbursement
Documents Required For Claim Process
Each loss has its own set of required or relevant documents. Below is the indicative list of documents required for seamless processing of claims:
- Attach claim form as per the type of claim the insured is making
- All invoices, original bills, prescriptions, hospital certificates to determine the total amount of medical expenses incurred by the insured
- Copy of the passport showing the date of entry journey from India
- Post-mortem report
- Death certificate
- Final police inspection report
- Discharge summary
- Relevant original invoices for the expenses incurred
- Original FIR report to be obtained from the relevant police authority in the event of loss or theft
- In case loss of jewellery, insured needs to submit the original or certified copies of valuation
Time Taken To Settle Claims
After getting all the required documents regarding the claim, it will examine the facts will make an offer within 30 days. Upon acceptance of an offer of claim settlement by Insured person, the payment of amount due will be made within 7 days from the acceptance of offer.
Cases Where You Can’t Claim SBI Travel Insurance
There are certain cases in which the insurance company will not be liable to pay any benefit under this travel plan. These general exclusions are:
- If the policyholder is traveling against the advice of their attending physician or travelling for the core purpose of receiving treatment
- Claim due to suicide, intentional self-injuries, mental ailments, depression, stress or anxiety, alcoholism, drunkenness, abuse of intoxicating drugs
- Insurer will not pay any amount if it is arising from the policy owner taking part in Airforce, Military or Naval operations
- Claim due to war, act of foreign enemies, invasion, civil war, hostilities, revolution, rebellion, military
- Pre-existing disease
SBI General has two types of Travel insurance, one is single Trip Insurance and other one is multi trip insurance. Single trip insurance is non-renewable while Multi Trip Insurance may be renewed with the Insurer’s consent by paying the required premium in force at the time of renewal.
- Automatic extension will only be provided after prior approval for a period not exceeding 7 days
- No refund of premium will be given once the journey has commenced
- It is not a general health insurance policy, coverage under medical expense section is intended to use in case of emergency
- Insured needs to make sure S/he submits the required documents for the claim within 30 days
- Premium should be received in advance and will not be accepted in installments
Advantages of SBI Travel Insurance
Following are the benefits of buying SBI Travel Insurance:
- Worldwide protection and round the clock assistance
- No pre-policy medical check up
- Provides comprehensive coverage to the insured
- Fair, transparent and quick cashless settlement
- Covers expenses for medical treatment of illness, disease contracted or injury sustained during an overseas travel
- Medical expenses incurred by the insured for continuation of medical treatment taken in the overseas hospital will be reimbursed up to 90 days
- Provides automatic extension if there is delay of public transport services beyond the control of the Insured person for free of charge
- Provides free look period where the insured can review the terms and conditions of the policy and return the same if not found acceptable
SBI Travel Insurance Customer Support
In case of any query, insured can Email their concern at firstname.lastname@example.org or talk to them on Telephone- 1800221111, 18001021111
Q1. Can this policy be extended?
Yes, extension in policy duration is only allowed in single trip insurance and on payment of extra premium. Single trip travel insurance can be extended for a maximum 180 days provided the total policy duration after extension shall not be more than 270 days.
Q2. What if I am not going to the trip?
In such a scenario, you can cancel the policy. However, the insured needs to submit the passport as a proof that journey has not been taken.
Q3. What is covered under loss of passport?
If the insured losses his passport during the trip, this policy will reimburse the actual expenses incurred for obtaining emergency travel documents in lieu of lost passport outside India.