My Project On Insurance

SBI GENERANCE INSURANCE
1. INTRODUCTION
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for
payment. It is a form of risk management primarily used to hedge against the risk of a contingent,
uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or
policyholder, is the person or entity buying the insurance policy. The amount of money to be
charged for a certain amount of insurance coverage is called the premium. Risk management, the
practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
The transaction involves the insured assuming a guaranteed and known relatively small loss in the
form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify)
the insured in the case of a financial (personal) loss. The insured receives a contract, called the
insurance policy, which details the conditions and circumstances under which the insured will be
financially compensated.
General insurance
Definition
Insurance as a form of contract or agreement under which one party agrees in return for a
consideration to pay an agreed amount of money to another party to make good a loss , damage,
or injury to something of value, as a result of some uncertain even in which the insured has
pecuniary interest.
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History
SBI General Insurance Company started its operation in the year 2010. The general insurance
venture from State Bank of India has the Insurance Australia Group (IAG) as a partner in the
business. SBI has a 74% stake in the company while the remainder is held by IAG.
SBI is Indias largest bank with an unparalleled distribution network with a large number of
clients - both retail and corporate. SBI General can easily leverage this become a very large player
in the general insurance market. With a history dating back to 1920s, the expertise of IAG
group will play a crucial role in the venture.
SBI General Insurance Company Limited is a joint venture between the State Bank of India and
Insurance Australia Group (IAG). SBI has a 74% stake in the company while the remainder is
held by IAG. SBI General Insurance Company is headquartered in Mumbai, the commercial
capital of India.
State Bank is the largest banking franchise in India and. Along with its seven associate banks, it
has the strength of over 18,500 branches across the country and the largest in the world.
Insurance Australia Group Limited (IAG) is an international general insurance group, with
operations in Australia, New Zealand, the United Kingdom and Asia.
SBI General Insurance has a team of highly experienced professionals in place to ensure that the
company functions in sync with its vision and goals. RR Belle is the CEO and Managing Director
of SBI General Insurance.
A variety of insurance products are offered by SBI General to suit the different individual needs
and preferences of the customers. These include insurance products with respect to motor, travel,
health, accident and home insurance. The company also caters to SME and corporate clients with
customized solutions for insurance and risk consultancy, liability, property, liability, marine and
miscellaneous.
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SBI General Distribution Network:
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SBI General's current geographical coverage extends to 20 cities pan India and plans are on to
extend this reach to another 25 cities by mid 2012.
Insurance sector has shown tremendous growth in the recent years. In the future as well, it is
expected to progress at a high scale. Earlier, only two Insurance companies were there in India
Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC).
Now, this sector has 24 Life Insurance and 24 General Insurance companies which offer various
innovative products keeping in mind the different needs of people. Most of these companies have
entered the market in collaboration with International firms.
These companies have come up with a bundle of policies which have their own pros and cons.
Every investor has his/her own needs, risk appetite, future goals and budget. As per these factors,
a plan useless for one can be the best for another.
We are providing you with the list of General & Life Insurance companies based on their policy
fees, overall expert ratings, complaint ratings, financial strength, credit ratings and more such
factors. You can also understand the products of these companies by going through the Product
Reviews, Articles and other details that we have provided.
2. OBJECTIVES OF GENERAL INSURANCE

1. The main objective of the Insurance company is that they provide liability of difficulties
that are faced in business as well as in life.
2. In India most of Indians have the security life policy in Life Insurance Corporation of
India. It provides enough needs according to the customers expectation. The policy varies
depending upon the income of the person and the business.
3. Insurance companies take risks based upon actuaries who uses statics to determine overall
exposure on a policy. Once your company determine its risk they write a policy and
caculate your premium.
4. They also outlines what is not insured. premiums are collected from insured parties.
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5. Insurance refers to the commercial arrangement in which a business establishment accepts the
liability of risks faced by individuals for a small sum of fee called premium. Companies providing
such insurance are called insurance companies.
6. Insurance companies help to spread the risk of loss among a large number of their clients.
For example when a company insure your car for a small sum against accidents, it charges
a yearly insurance which is much less than the losses you may have to bear if the accident
actually happened. In return it will compensate you for the actual losses incurred if an
accident actually happens.
7. In this arrangement the clients of the insurance companies benefit by avoiding a major but
uncertain loss which they may be ill prepared to bear by accepting to pay a small but
certain premium. Not only they avoid the big loss they also buy the Peace of mind by
knowing that if some thin goes wrong, the insurance companies will bear the losses.
8. The insurance companies benefit as the premium is so calculated the even after paying for
all the losses occurring against insured events, they will still be left with some surplus
profit.
9. Insurance and insurance companies are grouped in two broad classes - life insurance and
general insurance. Life insurance is protection against pre-mature death of a person. In
case, of premature death of a person, his nominated survivors are paid a sum substantial
sum of money.
10. This sum of money is agreed in advance and the insured person pays premium to
insurance company in proportion to this.
11. General insurance refers to insurance for any thing other than life. It covers loss of
property due to reasons such as theft, accidents, and natural calamities.
12. It also covers expenses for some specific purposes such as medical treatment and liability
for payment of compensation to victims of road accidents.
3. MOTOR INSURANCE
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Tractor and Other Farm Vehicles Insurance
India is an agriculture based country. Agriculture and farming are the main occupations of the
majority of the population of our country outside big cities. At SBI General, we recognise the
pivotal role farmers like you are playing in contributing to the growth and development of the
country. Unfortunately you are also exposed to the vagaries of the nature that can potentially
cripple you sometimes due to accidental damage to your Tractor or other farming vehicles.
With SBI General's Tractor and Other Farm Vehicles Insurance Policy- Package, you can
safeguard your Tractor and other Farming Vehicles as well as your dream.
A) Scope
1) This Policy is designed to cover the compulsory Third Party Liability as required by Motor
Vehicles Act, together with loss or damage to the Vehicle itself.
2) Third party liability: Protects against any legal liability arising out of the use of the vehicle,
towards third parties arising on bodily injury to / on death of a person and any damage caused to
third party property.
3) Loss or damage to the vehicle:
The policy covers against any loss or damage caused to the vehicle or its accessories due to the
following:
i) Fire, explosion, self-ignition, accidental damage by external means.
ii) Any damage in transit by road, rail, inland waterway, lift, elevator or air.
iii) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone,
hailstorm, frost, landslide, rockslide.
iv) Burglary, theft, riot, strike, malicious act & terrorist activity.
v) Personal accident cover:
vi) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for
individual owners (available only if the owner of the vehicle holds a valid driving license) of the
vehicle while driving. This is not applicable for a Company owned vehicle. Occupants of vehicles
can also be covered for Personal Accident for a maximum Capital Sum
vii) Insured of Rs 2 lakh per person. You may also now opt for higher limits in Personal Accident
cover.
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viii) Additional Legal liabilities :
The following additional legal liabilities may also be opted for at an additional premium.
Paid driver/Cleaner employed in operation of vehicle.
Employees travelling in/driving the vehicle other than paid driver.
B) Bonus
No Claim Bonus(NCB) Protection Cover.
On payment of additional premium, SBI General will maintain the No Claim Bonus (NCB)
subject to the following:
a) The vehicle is renewed with us.
b) There was only one single such claim lodged in the entire Policy period.
c) The insured vehicle is repaired in a Company authorised Garage.
d) The rate of the NCB allowed at the time of renewal will be same that the insured was
enjoying prior to the loss.
Return to Invoice Cover:
On payment of the additional premium, SBI General will pay the financial shortfall, if any,
between the amount Insured receives under section I of the Policy and the Purchase price of the
vehicle as confirmed in the Invoice of Sale or current replacement price of new vehicle,
whichever is less, in the event, the insured vehicle is a Total Loss/CTL following an accident or
stolen during the period of insurance and not recovered. SBI General will also reimburse the first
time registration charges and road tax which the Insured had incurred on the insured vehicle.
Provided that,
insured vehicle is not more than 2 years old from date of invoice/date of registration whichever is
earlier on the commencement date of the Policy.
1) Commercial Motor Insurance

Life is one great balancing act. As you set to get the best out of life, you do encounter life's little
road blocks like accidents & thefts. The best way to handle them is to just move ahead and enjoy
the journey rather than get bogged down. With SBI General's Commercial Vehicle Insurance
Policy, you be in control no matter what the little road blocks that life throws at you.
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A) Scope
3) The policy covers against any loss or damage caused to the vehicle or its accessories due to the
following:
4) Fire, explosion, self-ignition, accidental damage by external means
5) Any damage in transit by road, rail, inland waterway, lift, elevator or air.
6) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone,
7) Burglary, theft, riot, strike, malicious act & terrorist activity
8) Personal accident cover:
9) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for
vehicle while driving. This is not applicable for a Company owned vehicle. Paid driver, cleaner
and conductor employed in operation of vehicles can also be covered for Personal Accident for a
maximum Capital Sum Insured of Rs 2 lakh per person. You may also now opt for higher limits in
Personal Accident cover.
10) Additional Legal liabilities :
11) The following additional legal liabilities may also be opted for at an additional premium
12) Paid driver/Conductor/Cleaner employed in operation of vehicle.
Employees travelling in/driving the vehicle other than paid driver.
13) Non-fare paying passengers
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C) Bonus
1) No Claim Bonus
2) If you do not make a claim during the Policy period, a No Claim Bonus (NCB) is offered on
renewals. This discount can go as high as 50%. (NCB will only be allowed provided the Policy is
renewed within 90 days of the expiry date of the previous policy.) Transfer of NCB: You can
transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another
company.
2) Motor Private Car Insurance

road blocks like accidents and thefts. The best way to handle them is to just move ahead and
enjoy the journey rather than get bogged down. With SBI General's Private Car Package
Policy, you be in control no matter what the little road blocks that life throws at you.
CAR INSURANCE
A) Coverage
1) Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles
Act, together with loss or damage to the Vehicle itself.
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4) The policy covers against any loss or damage caused to the vehicle or its accessories due to the
following.
5) Fire, explosion, self-ignition, accidental damage by external means.
8) Burglary, theft, riot, strike, malicious act and terrorist activity.
9) Personal accident cover.
10) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for
vehicle while driving. This is not applicable for a Company owned vehicle. Occupants of vehicles
can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs 2 lakh per
person. You may also now opt for higher limits in Personal Accident cover.
11) Additional Legal liabilities.
12) The following additional legal liabilities may also be opted for at an additional premium
13) Paid driver employed in operation of vehicle.
14) Employees travelling in/driving the vehicle other than paid driver.
15) Bifuel-Kit:
16) The CNG-LPG bifuel kit can also be covered by paying additional premium.
17) Nil Depreciation:
18) On payment of additional premium Company will indemnify the Insured without deduction
for depreciation on parts in respect of approved partial loss.
19) NCB Protection:
20) On payment of additional premium Company will maintain the No Claim Bonus (NCB)
subject.
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21) Return to Invoice:

22) On payment of the additional premium, Company will pay the financial shortfall, if any,
between the amount Insured receives under section I of the Policy and the purchase price of the
vehicle as confirmed in the Invoice of Sale or current replacement price of new vehicle,
whichever is less, in the event the insured vehicle is a Total Loss/CTL following an accident or
stolen during the period of insurance and not recovered. The Company will also reimburse the
first time registration charges and road tax which the Insured had incurred on the insured vehicle.
Provided that, insured vehicle is not more than 2 years old from date of invoice/date of
registration whichever is earlier on the commencement date of the Policy.
B) Bonus
1) No Claim Bonus
2) If you do not make a claim during the Policy period, a No Claim Bonus (NCB) is offered on
renewals. This discount can go as high as 50%. (NCB will only be allowed provided the Policy is
renewed within 90 days of the expiry date of the previous policy.) Transfer of NCB: You can
transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another
company.
3) Other Discounts
4) Voluntary Excess discount: A further discount on the premium is available if you opt for a
Voluntary Excess in addition to the Compulsory Excess. (All Policies carry Compulsory Excess
amount which is deducted from the claim amount payable)
3) Motor Two Wheeler Insurance

road blocks like accidents andthefts. The best way to handle them is to just move ahead and enjoy
the journey rather than get bogged down.
With SBI General's Two Wheeler Package Policy, you can be in control no matter what the little
road blocks that life throws at you.
A) Coverage
1) This Policy is designed to cover the compulsory Third Party Liability as required by Motor
Vehicles Act, together with loss or damage to the Vehicle itself.
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3) Loss or damage to the vehicle: covers against any loss or damage caused to the vehicle or its
accessories due to the following,
4) Fire, explosion, self-ignition, accidental damage by external means
7) Burglary, theft, riot, strike, malicious act and terrorist activity
8) Following are the additional opt-in covers
9) SBI General's Two Wheeler Package Policy provides compulsory personal accident cover of
Rs. 1 lakh for individual owners (holding a valid driving license) of the vehicle while driving.
This is not applicable for a Company owned vehicle.
10) Pillion Rider of the two wheeler can also be covered for Personal Accident for a maximum
Capital Sum Insured of Rs. 1 lakh. You may also opt for higher limits in Personal Accident cover.
B) Bonus
1) No Claim Bonus: If you do not make a claim during the Policy period, a No Claim Bonus
(NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed
provided the Policy is renewed within 90 days of the expiry date of the previous policy.)
2) Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shift your motor
insurance policy from another company.
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4. HOME INSURANCE
Long Term Home Insurance

Protect it with SBI General's Long Term Home Insurance Policy.
You spend your lifetime in dreaming about a home of your own. You take the help of financial
institutions to fulfil your dream. Along with the pleasure of fulfilling your dream come the
liability and the responsibility of paying for the same over the next few years. At SBI General, we
make things easy for you to protect your dream home. With SBI General's Long Term Home
Insurance Policy, you can truly enjoy the home you have just acquired.
HOME INSURANCE
A) Coverage
1) SBI General's Long term Home Insurance Policy is designed for covering loss or damage
caused to the building used as residential homes due to fire and special perils. Covers destruction
of or loss/ damage to the insured property by any of the following perils :
2) Fire
3) Lightning
4) Explosion / Implosion (excluding boilers , economizers, pressure vessels)
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5) Aircraft Damage
6) Riot, Strike and Malicious Damage
7) Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
8) Impact Damage
9) Subsidence and Landslide including Rockslide
10) Bursting and/ or Overflowing of water tanks, apparatus and pipes
11) Missile Testing Operations
12) Leakage from Automatic Sprinkler Installations
13) Bush Fire
14) Earthquake (Fire and Shock)
15) Further, on payment of additional premium, Terrorism Cover can be opted.
16) Disclaimer: The above information is only indicative in nature. For details of the complete
coverage please contact our nearest office and refer to the policy document.
17) Duration - The recommended Plan option is a minimum of 3 years as it will optimally protect
your dream home against any eventualities. The maximum duration one can take is 30 years.
18) The rate of premium shall depend upon the Location and Period of Insurance Policy.
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5. PERSONAL ACCIDENT INSURANCE
1) Group Personal Accident Insurance for SBI & it's Associated

Banks
Your familys happiness is priceless. Protect it.

Life has the knack of springing unpleasant surprises like accidents and potentially upsetting ones
dream and causing financial hardship for the family. With SBI General, you can be in control and
safe guard your familys happiness. At SBI General we believe in being with you at every step
and help you take control of your life.
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Group Personal Accident Insurance for:

SBI Account holder (Master Policy Wording
Policy No.68100-0000-00)
Claim Form
SBI Account holder (Master Policy Wording

Policy No.137300-0000-00)
Claim Form
SBI Account holder (Master Product Leaflet

Policy No.143820-0000-00)
Policy Wording

Policy No.143990-0000-00)
Policy Wording

Policy No.143821-0000-00)
Policy Wording

Policy No.143822-0000-00)
Policy Wording

Policy No.143823-0000-00)
Policy Wording

Policy No.143824-0000-00)
Policy Wording

Policy No.143825-0000-00)
Policy Wording
Coverage
The Policy covers death due to accident only.
Sum insured
Sum Insured
Premium payable including Service Tax

as applicable
Rs. 2,00,000
Rs. 100
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Rs. 4,00,000
Rs. 200
Rs. 10,00,000
Rs. 500
Rs. 20,00,000
Rs. 1000
2) Individual Personal Accident Insurance Policy

Life has the knack of springing unpleasant surprises like accidents and potentially upsetting ones
life and causing financial hardship. With SBI General you can be in control and safe guard your
family against these uncertainties. At SBI General we believe in being with you at every step and
help you take control of your life.
You can take on the challenges life throws at you and secure your familys future with SBI
Generals Individual Personal Accident Insurance Policy. This Policy is designed to cover Loss of
Life, Disabilities and Income due to an Accident.
Coverage
SBI General's Individual Personal Accident Insurance Policy has 'Accidental Death' as
compulsory cover and 'PTD, PPD and TTD as optional covers. Insured may opt for any of the
following coverage options A) Accidental death
B) Accidental death + Permanent Total Disability (PTD)
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C) Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD)
D) Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD) +
Temporary Total Disability (TTD)
In case of family option, every member of the family has option to choose from the benefits given
above. However the benefits chosen by family members should not be more than the benefit
chosen by primary insured.
3) Permanent Total Disability (PTD) benefit comes with the following

benefits at no additional cost
A) Education benefit:
Death and permanent total disability claim entitle the insureds child and spouse to Education
Benefit of Rs.50,000/- or 1% of CSI (basic SI), whichever is lower for each child/spouse, to
maximum two individuals (children/spouse) on proof of enrolment at a Government approved
education facility.
B) Adaption allowance:
Permanent total disability claims also include payment towards cost of modifying Insured House
or vehicle to combat Disability @ 1 % or Rs 25,000/- whichever is less.
Add on Covers:
Hospital Confinement Allowance:
The per day allowance of Rs.1000 / 2000 / 3000 with a maximum coverage for 15 days for the
entire policy period, if insured is admitted in a Hospital due to Injury or Accident that occurs
within the Republic of India.
Ambulance Charges including air ambulance:

10% of Accidental Death Sum Insured subject to maximum of Rs.1,00,000 per policy period
towards expenses incurred for availing an Ambulance Service. Ambulance cover available only
when Accidental Death Sum Insured is Rs.5,00,000 and more. The expenses are payable if
incurred for availing an Ambulance Service (including air ambulance) to transfer the Insured
Person to a Hospital from the location of Accident or Injury or from one Hospital to other
Hospital or from hospital to place of residence in case of death or PTD.
Age & Sum Insured Eligibility:

The minimum age of entry for SBI Generals Individual Personal Accident Insurance Policy is 18
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years. However Children from the age of 3 months can be covered subject to either of the parents
is concurrently covered with the same Policy. The Maximum age of entry for the policy for adults
is 65 years and for children is 23 years.
Family option is available, where family means the Primary Insured Person, legal spouse,
dependent children, dependent parents and dependent parents in law.
Plan options
The minimum coverage available under this policy is Rs.1,00,000 and the maximum coverage
available is Rs.1,00,00,000. Sum Insured for Accidental Death Benefit / Permanent Total
Disability is limited to 120 times monthly gross income or 10 times the annual gross earnings
from gainful employment/occupation
Sum Insured to dependent children, dependant parents, parents in law and non working spouse is
limited to 20 % of Sum Insured of the Primary Insured or Rs.10,00,000/- whichever Is less .
Weekly Indemnity under the Temporary Total Disablement benefit is 1% of Accidental Death
Sum Insured subject to Max of Rs.10, 000/- per week, up to maximum of 104 weeks.
Note: For Accidental Death Sum Insured of above 25 Lakhs, copy of self attested latest income
proof (latest 3 Salary Slips / Form 16 / IT return) needs to be provided along with the completed
Proposal Form.
Policy Cancellation:
The SBI Generals Individual Personal Accident Insurance Policy is available for a period of one
year, however short period policies may also be considered as per the following table.
Period on Risk
Required % of Annual Premium
Not exceeding 1 month
25%
Exceeding 1 month but not exceeding 350%

months
Exceeding 3 month but not exceeding 675%
months
Exceeding 6 months
100%
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This insurance may also be cancelled by the Company by giving the Insured at least 15 days
written notice to the address stated in the Schedule. Such cancellation will be on grounds of misrepresentation, fraud, non-disclosure of material facts or non-cooperation of the insured. In such
an event the Company will retain premium on a pro-rata basis and refund the balance premium to
the Insured. Ordinarily renewals will not be refused /cancellation will not be invoked by Insurer
except on ground of fraud, moral hazard or misrepresentation.
6. HEALTH INSURANCE
A) Health Insurance
We understand that people are unique and have varying levels of control over their health. Each of
us would like to define a healthy life on our own terms. At SBI General, its our aim to partner
with you and help you achieve better health and a sense of security along the way.
In times of rising health care costs, a sudden illness or injury can leave you financially devastated
and highly stressed. With SBI Generals Health Insurance Policy Retail, you can be in control
by making medical treatment expenses more manageable. Thus ensuring quality health &
happiness of your family.
HEALTH INSURANCE
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Apollo DKV Health Insurance has renamed itself Apollo Munich Health Insurance as a part of its
five-year strategic plan to gain a five per cent market share. Apollo Munich is a joint venture
between Asias largest integrated healthcare provider, The Apollo Hospitals Group, and
Germany-based Munich Res segment, Munich Health.
Coverage
This policy covers the following subject to the terms and conditions:
Sr. no.
Expense Heads
Expense Limit(Rs).
Medical Treatment with Up to 1% of the Sum Insured per day

Room, Board & Nursing
Expenses
&
Service
Charges etc.
Medical Treatment
Intensive Care Unit
in Up to 2% of the Sum Insured per day

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3
All admissible claims Up to 25% of the SI per illness/injury

under 1 & 2 during the per claim
policy period
Consultants & Specialists Up to 40% of the SI per illness/injury

Fees
per claim.
Anaesthesia,
Blood, Up to 40% of the SI per illness/injury
Oxygen, OT Charges, per claim.
Surgical Appliances
Pre-hospitalisation
Up to 10% of the eligible

hospitalisation expenses incurred 30
days prior to date of admission into
the hospital.
Post-hospitalisation
Up to 10% of the eligible

hospitalisation expenses incurred 60
days after the date of discharge from
the hospital.
Ambulance charges
1% of SI up to a max of Rs. 1500.
Free Medical Check up
Free medical check-up - 1% of SI up

to a max of Rs. 2500 for every 4 claim
free years.
10
Parental Care: Attendant

nursing charge to take
care of you parents who
are above 60 years of age.
Available for persons above 60 years

old. Attendant nursing charges after
discharge from the hospital for Rs 500
or actual whichever is less per day up
to a max. 10 days per hospitalisation.
The charges can be reimbursed for a
period not exceeding 15 days during
the entire Policy period.
11
Child Care: Attendant

escort charges to take care
of child below 10 years of
age.
Available for child below 10 years.

Attendant escort charges of Rs 500 for
each completed day of hospitalisation
subject to maximum of 30 days during
the Policy Period.
12
Limit of Cataract
15% of sum insured subject to

maximum of 25000 per eye subject to
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first two years exclusion.
13
Accidental Hospitalisation Sum Insured Limit under the policy

shall increase by 25% of the balance
sum insured available subject to max
of Rs.1 Lac. in case of accidental
hospitalisation. Payable only once
under the Policy per person.
14
Alternative
Treatment
(Subject to Treatment
taken at a Ayurvedic
hospital confirming with
our definition of hospital
and which is registered
with any of the local Govt.
bodies)
Reimbursement
of
Ayurvedic
Treatment up to a maximum of 15% of
Sum Insured per Policy period up to a
maximum
of
Rs.
20000
&
Homeopathy and Unani Treatment
upto a maximum 10% of Sum Insured
per Policy period up to a maximum of
Rs. 15000.
15
Domiciliary
Hospitalisation
Reasonable and Customary Charges

towards Domiciliary Hospitalisation
as defined in Policy definition subject
to 20% of the Sum Insured maximum
up to Rs.20000 whichever less is.
16
Convalescence BenefitBenefit
available
for
Insured above 10 years &
below 60 years.
Covers select Day Surgery where less

than 24 hours hospitalisation for
specified procedures like Dialysis,
Chemotherapy, Radio therapy, Eye
Surgery, Dental Surgery (Due to
accident), Tonsillectomy, etc are
covered.
17
Co-Payment
on
all 10% on all eligible admissible claims.
eligible admissible claims
in non-network hospitals
18
Cashless facility
Across SBI
Hospitals
19
Coverage for select Day

Surgery procedures where
less than 24 hours
hospitalisation is required.
Covers select Day Surgery where less

than 24 hours hospitalisation for
specified procedures like Dialysis,
Chemotherapy, Radio therapy, Eye
Surgery, Dental Surgery (Due to
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General's
Network

accident),
covered.
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Tonsillectomy,
etc
are
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What is the minimum & maximum coverage possible under this

Policy?
The minimum coverage available for you and your family under this policy is for a Sum Insured
of Rs.50,000. The Maximum coverage available under this policy is for a Sum Insured of
Rs.500,000 subject to the Terms and Conditions of the Policy.
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The following Terms & Conditions apply while Sum Insured is finalised:
1) Maximum Sum Insured would be restricted to Rs.200,000/- for insured persons aged 60 and
above and taking a policy with SBI General Insurance for the first time.
2) Minimum Sum Insured for Family Floater Policy would be Rs.200,000/3) By Family we mean- For Individual Policy: You, your legal spouse, legal & dependent children and dependent
parents.
- For Family Floater Policy: You, your legal spouse and legal & dependent children.
1) Based on the medical history, Sum Insured opted and/or age, you/your family members may
be subject to a Medical Examination.
2) Renewal for people beyond 70 years will be allowed subject to Insured accepting to pay the
premium and additional loading as applicable for the age band in which the Insured falls at the
time of renewal and as approved by IRDA.
What are the Add-on Covers available with this Policy?
On payment of additional premium the following Add-on Covers are available with his Policy.
Any one or both Add-on Covers can be opted by the primary insured and which is applicable to
all the members in the family.
- Removal of Room & ICU rent sub-limits
- Removal of sub-limits on Operation and Consultancy charges
Plan Options
SBI General firmly believes in providing you with flexible options in terms of where you would
like to get treated should the need arise.
In case you are living in a Metro or in a Semi Metro, and you would like to get treated there only,
the Policy provides you with an option to choose a Plan. This way it helps you to choose a plan
Page 27

which is more appropriate to your need and hence priced accordingly. The Policy firmly puts you
in control by giving you the flexibility to select an appropriate option that is just right on your
purse.
PLAN
%
%
%
PLAN A (MUMBAI & DELHI)
100
100
100
PLAN B
(CHENNAI,KOLKATA,BANGALORE,AHMEDABAD,HYDRAB
AD)
80
100
100
PLAN C (REST OF INDIA)
70
80
100
1) Plan A - 100% of the admissible claim amount for all Locations subject to the Policy terms and
conditions.
2) Plan B - 100% of the admissible claim amount for Locations B and C, and 80% for Location A
subject to the Policy terms and conditions.
3) Plan C - 100% of the admissible claim amount for Locations C, 80% for Location B and 70%
for Location A subject to the Policy terms and conditions.
4) The percentage of amount shown in the above table is with respect to the admissible claim
amount. The Company will make payments only after being satisfied, with the necessary bills and
documents.
B) Health Insurance - SBI

Your familys happiness is priceless. Protect it.
Page 28

SBI GENERALS GROUP HEALTH INSURANCE POLICY - For Individual
We understand that people are unique and have varying levels of control over their health. Each of
us would like to define a healthy life on our own terms. At SBI General, its our aim to partner
with you and help you achieve better health and a sense of security along the way. In times of
rising health care costs, a sudden illness or injury can leave you financially devastated and highly
stressed. With SBI Generals Group Health Insurance Policy (for individual and family), you can
be in control by making medical treatment expenses more manageable, thus ensuring quality
health and happiness of your family.
FAMILY HEALTH INSURANCE
Your greatest wealth is your health & everybody has differing levels of control over their own
wellbeing. Life follows no fixed pattern and sudden illness or bodily injury can sometimes leave
you financially hurt and highly stressed. SBI General's Group Health Insurance Policy helps you
to be in control by
protecting and making medical treatment expenses more manageable thus ensuring quality health
care for you and your family.
Group Health Insurance Policy for:
Page 29

SBI Account holders (Master Policy No.950000000-00) Product Brochure | FAQ
Product Leaflet
Policy Wording
SBM Account holders (Master Policy No.1437000000-00) Product Brochure | FAQ
Product Leaflet
Policy Wording
SBH Account holders (Master Policy No.1437030000-00) Product Brochure | FAQ
Product Leaflet
Policy Wording
SBP Account holders (Master Policy No.1437060000-00) Product Brochure | FAQ
Product Leaflet
Policy Wording
Product Leaflet
Policy Wording
Product Leaflet
Policy Wording
Key benefits
1) No pre-policy medical test up to the age of 65 years for people with no medical history
2) Just 1 year waiting period for specified diseases (Pre-existing diseases covered after 4 years)
3) Guaranteed renewal
4) Multiple Coverage Options Individual & Family Floater options for Sum Insured
5) The premium paid is exempt from Income Tax under Sec 80 D of Income Tax Act (Tax
benefits are subject to change in tax laws)
6) Coverage of Pre and Post Hospitalisation Expenses - 30 days before and 60 days after the
hospitalisation
7) Cashless treatment at over 3,000 Network hospitals
8) Wide Coverage From Rs.100,000 up to Rs.500,000
Page 30

Coverage
This policy covers the following subject to the terms and conditions:
S.No
.
Expense Heads
Expense Limit (Rs.)
Ambulance charges
1% of SI up to a max of Rs. 1500.
Domiciliary Hospitalisation
Reasonable and Customary Charges

towards Domiciliary Hospitalisation as
defined in Policy subject to 20% of the
Sum Insured maximum up to Rs. 20000
whichever is less.
Co-Payment on claims in non-network

10% on all eligible admissible claims.
hospitals
Cashless facility
Covers select Day Care Surgery where less

than 24 hours hospitalisation for specified
Coverage for select Day Care Surgery procedures like Dialysis, Chemotherapy,
Radio therapy, Eye Surgery, Dental Surgery
procedures
(Due to accident), Tonsillectomy, etc are
covered.
1%/day for Non ICU and 2%/day for ICU.

All incremental Expenses pertaining to
Room boarding and Nursing charges ICU
room rent, medical practitioners /
Charge
specialists fees and other incidental
Expenses to be borne by the insured.
Up to 40% of the SI per illness/injury per

claim.
Pre-hospitalisation Expenses Coverage - 30 days prior to date of admission into the

Page 31

hospital.
Post-hospitalisation Expenses Coverage - 60 days after the date of discharge from the
hospital.
Medical Practitioner and Specialists Fees.
Anesthesia, Blood, Oxygen, Operation Theatre charges, Surgical Appliances, Medicines
and Drugs, Physiotherapy, Diagnostic Materials and X-ray, Dialysis, Chemotherapy,
Radiotherapy, Cost of Pacemaker, Prosthesis/Internal Implants and any medical
expenses incurred which is integral part of the operation.
Sum insured
The minimum Sum Insured (SI) is Rs.100,000.
You can also take the following Sum Insured options:
Rs.100,000; Rs.200,000; Rs.300,000; Rs.400,000 & Rs.500,000.
C) Critical Illness Insurance Policy

Your greatest wealth is your health. Life follows no fixed plan and a sudden illness that is critical
can sometimes leave you financially hurt and highly stressed. SBI Generals Critical Illness
Insurance Policy helps you to be in control by protecting you financially.
SBI Generals Critical Illness Insurance Policy covers you against thirteen most important critical
illnesses. The Policy provides for a fixed sum, irrespective of your actual medical expenses! It
helps you bear the high cost of treatment associated with critical illness & stay financially stable.
Key benefits
1) Coverage against 13 most critical Illnesses
2) Maximum age of entry is 65 years
3) Two Plan Options One year and 3 years
4) Up to Rs.50,00,000 Sum Insured
5) Free Look Period of 15 days
6) The premium paid is exempt from Income Tax under Sec 80 D of Income Tax act
Page 32

Coverage
The Policy provides for Insurance cover against 13 Critical Illnesses. The Insurance benefit is
payable, only if the Insured is alive for a period of more than or equal to 28 days from the date of
the first diagnosis of the illness/medical event or undergoing illness related surgical procedure for
the first time:
Sno. Types of Critical Illness
Survival Period
Min.
Assessment
Period
Cancer
28 days
28 days
Kidney Failure
Renal Failure)
28 days
28 days
Primary Pulmonary
Hypertension
28 days
28 days
Multiple Sclerosis
28 days
28 days
Major Organ Transplant
28 days
180 days
Coronary
artery
by-pass
grafts (with surgery to divide 28 days
the breastbone)
28 days
Aorta Graft Surgery
28 days
28 days
Heart Valve Surgery
28 days
28 days
Stroke
28 days
90 days
10
Myocardial Infarction
Heart Attack)
28 days
28 days
11
Coma
28 days
30 days
12
Total Blindness
28 days
28 days
13
Paralysis
28 days
90 days
(End
Stage
Arterial
(First
Page 33

Only one Critical Illness claim can be allowed by us during the lifetime of the Insured. The
Critical Illness policy terminates immediately on the payment of first Critical Illness benefit under
the policy. The maximum benefit amount under Critical Illness cover to any individual is INR
5,000,000 including all policies that are issued by the Insurer.
The minimum age of entry for SBI Generals Critical Illness Insurance Policy is 18 years, while
the maximum age is 65 years.
Plan Options
The SBI Generals Critical Illness Insurance Policy is available in two Plan Options
1 Year Plan
3 Year Plan
The minimum coverage available under this policy is for Rs.2,00,000 and the maximum is for
Rs.50,00,000 subject to the following terms.
1) The maximum sum insured would be restricted to 60 months gross income for the Insured or
maximum of Rs.50,00,000/- provided, proposer is the earning member of the family and in such
cases, we may insist for income proof, if required.
2) In case of non earning Insured sum insured would be restricted to 50% of Sum Insured up to a
maximum of Rs.10 lacs based on the Income of the proposer.
3) Based on Medical history, Sum Insured & age, the proposer may have to undergo a Medical
Examination. For proposed insured persons who are aged above 45 years, the acceptance of
proposal is subject to a satisfactory medical examination as per our companys requirements,
irrespective of sum insured chosen.
4) Pre-acceptance medical tests will be at the cost of the proposer. However, if the proposal is
accepted the Insurer will reimburse 50% of the cost incurred towards the medical tests so
undertaken at the advice of the insurer.
5) The Maximum Sum Insured would be restricted to Rs.15, 00,000/- for insured persons aged 60
and above and taking a policy with us for the first time.
Page 34
7. TRAVEL INSURANCE
Whether you travel alone, with family or business associates, you would certainly want your trip
abroad to be as per your plan. Despite all that careful planning, there may be unforeseen events
beyond your control. This may take your peace of mind and put you completely out of control.
SBI Generals Travel Insurance (Business and Holiday) provides comprehensive cover for you
and your family when you are globetrotting. It covers you against medical and other financial
emergencies during your trip abroad and help restore your peace and be in control of the situation.
Travel in peace anywhere in the world with SBI Generals Travel Insurance Policy.
TRAVEL INSURANCE
Coverage
Our Travel Insurance is one of the most comprehensive policies in the industry. It covers expenses
incurred for medical treatment of illness, disease contracted or injury sustained during an overseas
travel and which is primarily in the nature of an emergency and necessary to be undertaken
immediately along with other related coverages.
Page 35
Page 36
Sectio
n
Coverages
Medical
Expenses
including
50,000 to 5,00,000
Evacuation & Repatriation
Benefits (in US $)
A-i
A-ii
Deductible
US $ 100
Personal Accident Travel Support
10% of Limit of cover

under Section (A)
Nil
subject to maximum
25,000
1. Loss of Passport
2000 on Floater basis
5% of claim amount
2. Golfers Hole-In-One
5% of claim amount
3. Home Burglary Insurance
5% of claim amount
4. Loss of Checked Baggage
5% of claim amount
5. Trip Cancellation
5% of claim amount
6. Trip Curtailment
5% of claim amount
7. Missed Connection
5% of claim amount
8. Delay of Checked Baggage

(Baggage delay payment at the rate of
US $ 200 per 12 hrs)
First 12 hrs
9. Hijack Cover (Hijack Cover at the

rate of US $ 200 per 24 hrs)
First 24 Hrs
10. Trip Delay (Trip Delay at the rate

of US $ 200 per 12 hrs)
First 12 hrs
11. Hospitalisation Daily Allowance
First one day
Page 37

(cash at the rate of US $ 50 per day)
12. Bail Bond
Not Applicable
13. Emergency Cash Advance
Not Applicable
Personal Liability
50% of the Limit of

cover under Section ( A
US $ 100
)
or
2,00,000,
whichever is lower.
Period of insurance
a) Single Trip:- Policy can be issued for minimum 1 day up to a maximum of 180 days
duration.
b) Multi Trip:- Policy will be issued only for one year and not for any duration shorter or
longer than one year.
How to extend the policy duration?

With prior approval of the Insurer and on payment of extra premium:Extension in Policy duration is only permissible in single trip insurance for a maximum 180 days
subject to the condition that total Policy duration after extension shall not be more than 270 days.
The premium for extension of Policy duration will be difference of full extended period premium
minus premium received till date.
Automatic extension:- This extension is over and above extension of the Policy duration
after prior approval for a period not exceeding 7 days if necessitated by delay of public transport
services beyond the control of the Insured person. This automatic extension will be free of any
charge.
General exclusion
Page 38

The Company shall not be liable to pay under the Policy for the following:
1. No claim will be paid where the Insured person:
is travelling against the advice of a Physician: or
is receiving or on a waiting list for specified medical treatment declared in the Physician's
report or certificate; or
is travelling for the purpose of obtaining treatment; or
has received a terminal prognosis for a medical condition.
2. No claim will be paid if arising from suicide, attempted suicide or wilfully self inflicted injury
or illness, mental disorder, anxiety, stress or depression, venereal disease, alcoholism,
drunkenness or the abuse of the drugs, or any loss arising directly or indirectly from any injury,
illness, death, loss, expenses, or other liability attributable to HIV (Human Immunodeficiency
Virus) and/or any HIV related illness including AIDS (Acquired Immune Deficiency Syndrome)
and/or any mutant derivative or variation thereof however caused.
3. No claim will be paid if arising from the Insured person taking part in Naval, Military or
Airforce operations.
4. No claim will be paid if arising from War, invasion, acts of foreign enemy, hostilities (whether
war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or
confiscation or nationalisation or requisition of or destruction of or damage to property by or
under the order of any government or local authority.
5. The Insurance does not cover any claim arising from the loss or destruction or damage to any
property whatsoever or any loss or expenses whatsoever resulting or arising there from or any
consequential loss directly or indirectly caused by or contributed to by or arising from
ionising radiation or contamination by radioactivity from any nuclear waste from the
combustion of nuclear fuel; or
the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear
assembly or nuclear component thereof.
6. No claim will be paid which arises from the Insured person engaging in Air Travel unless he or
she flies as a passenger on an aircraft properly licensed to carry passengers. For the purpose of
this exclusion, Air Travel means being in or on, or boarding an aircraft for the purpose of flying
therein or alighting therefrom following a flight.
7. No claim will be paid arising from the participation of the Insured person in winter sports,
mountaineering (where ropes or guides are customarily used), riding or driving in races or rallies,
caving or potholing, hunting or equestrian, skew diving or other underwater activity, rafting or
canoeing involving white water rapids, yachting or boating outside coastal waters (2 miles).
Page 39

Further no claim will be paid in case Insured person participates in professional sports or any
other hazardous sports, unless specifically covered as an extension of the Policy.
8. No claim will be paid for losses arising from accidents on two wheeled motorised vehicles
unless at the time of the accident the driver is duly qualified, is in possession of a current full
International driving license and the Insured person is wearing a safety crash helmet.
9. No claim will be paid for losses arising directly or indirectly from manual work or hazardous
occupation, or if engaging in any criminal or illegal act.
10.Pre-existing Disease: The Policy is not designed to provide an indemnity in respect of medical
services, the need for which arises out of a pre-existing disease.
8. FIRE INSURANCE
1) Fire insurance
Standard Fire and Special Perils Insurances
Take Control of your business's destiny with the help of SBI General Insurance:
With product like Standard Fire & special Perils Insurance Policy, you can safeguard your assets
that you value most.
Page 40

Basis for Indemnity - As the Policy can be availed of either on Market Value or on Reinstatement
Value of the property being insured, the basis of indemnity also differs accordingly. In either case,
if the Sum Insured is less than the amount required to be insured, the Company will pay only in
such proportion as the Sum Insured bears to the amount required to be insured. Every item (if
more than one) shall be subject to this condition separately.
FIRE INSURANCE
The fire insurance as the business of effective , otherwise than incidentally, to some other class
of insurance business, contracts of insurance against loss incidental to fire or other occurrences
customarily included among the risks insured against in fire insurance policies.
A) Coverage
1) This Policy covers various assets like Building, Plant and Machinery, Stock, Furniture,
Fixtures and other immovable and movable assets against loss or damage due to,
2) Fire
3) Lightning
4) Explosion / Implosion
5) Aircraft Damage
Page 41

6) Riot, Strike, Malicious Damages and Terrorism
7) Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornodo, flood, inundation,
8) Impact damage
9) Subsidence, Landslide and Rock slide
10) Missile Testing operations
11) Bush Fire
12) Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
13) Leakage from Automatic Sprinkler Installations
14) Further, on payment of additional premium, the following additional coverage can be opted
15) Architects, Surveyors and Consulting Engineers fees (in excess of 3% of claim amount)
16) Debris Removal (in excess of 1% of claim amount)
17) Deterioration of Stock in Cold Storage
18) Forest Fire
19) Impact Damage by insured's own vehicles etc.
20) Spontaneous combustion
21) Omission to insure Additions, Alterations or Extensions
22) Earthquake (Fire and Shock)
23) Spoilage Material Damage Cover

24) Leakage and Contamination Cover
25) Loss of Rent
26) Alternative Accommodation
27) Start Up Expenses
28) Terrorism Cover
C) Sum insured
Page 42

Property can be insured on depreciated cost (Market Value) or replacement cost basis. In order to
get full protection, insurance on reinstatement (replacement) basis is recommended. However
Stock should be covered only on Market Value basis. The Sum Insured can be reinstated after
occurrence of a claim for the balance period of the Policy.
2)
Consequential Loss (Fire) Insurance
Take Control of your business's destiny with the help of SBI General Insurance:
Life is full of surprises. Some are pleasant and some are not. Disasters like Fire and special perils
can put a break in your growth plan.They also put huge financial burden on you. SBI General
Insurance can help successfully overcome these situations and put you firmly in control of your
business.
SBI General Insurance can help successfully overcome these situations and put you firmly in
control of your business. With SBI General Consequential Loss (Fire) Insurance Policy, you can
now safeguard your business profits against possible loss due to business interruption.
Insurance policies generally cover the costs of repairing or replacing damaged property. But, the
financial loss suffered due to an interruption in your business operation is not covered under these
material damage policies - you need a Consequential Loss policy.
SBI General's Consequential Loss (Fire) Insurance Policy offers the solution, by covering profit
lost following an interruption to your business which inevitably results from damage to insured
property. This Policy can be taken only in conjunction with a policy that insures your assets (such
as an SBI General's Standard Fire and Special Perils policy), and triggers only if the loss is
admissible under that policy.
Indemnity period - The indemnity period commences with the date of damage and lasts till such
time as the business is restored to its pre-damage level or the end of the indemnity period is
reached whichever comes first. A consequential loss insurance policy insures earnings end of the
indemnity period is reached, indemnity period. Hence, selection of the indemnity period is of
utmost importance.
Page 43
A) Scope
1) The scope and purpose of consequential loss insurance is therefore:
2) To make good the loss of net profit that results from a stoppage of business following loss or
damage to your insured property.
3) To pay the standing charges which continue to accrue in spite of stoppage of business.
4) To pay the additional expenditure you may incur to maintain normal business activity, during
the period in which the business is affected.
B) Coverage detail
1) Further, on payment of additional premium, the following coverages can be selected:
2) Supplier's extension
3) Customer extension
4) Failure of Public power supply/Gas works/water works
5) Spoilage Risk extension
C) Sum insured
1) The Sum Insured is based on the gross profit of the business. Gross Profit is
defined as the sum of Net Profit and insured standing charges.
2) Damage could occur at the very end of the period of insurance. In order to
provide for an adequate Sum Insured, profit projection must be made one year
Page 44

beyond the Indemnity period. Thus if the indemnity period is 24 months, projections
for the next three years should be considered in arriving at the Gross Profit figures.
3) Additional Items which can be incorporated as part of the Sum Insured,
4) Wages
5) Insurance of lay off and/or retrenchment compensation
6) Auditors fees
9. MARINE INSURANCE
Marine insurance basically cover two risk areas , namely, marine cargo and marine hull. The risks
which these areas are exposed to are collectively known as perils of the sea. These perils
include theft, fire, collision etc.
MARINE INSURANCE
Page 45
An agreement whereby the insurer undertakes to indemnify the assured, in the manner and to the
extent thereby agreed, against losses incidental to marine adventure. It may cover loss or damage
to vessels, cargo or freight.
1) Marine Cargo Insurance

We are living in a world of Boundryless Business. As you continue to expand the business
horizon, you are also increasingly exposed to the risks that are associated with transit of goods.
Your biggest challenge is to put in place a suitable Risk Management, so that you can confidently
move ahead fulfilling your dream of expanding your business horizon.
SBI General Insurance can help you to successfully overcome these situations and put you firmly
in control. With SBI General's Marine Cargo Insurance Policy you can safeguard yourself from
risks associated with transit of goods.
A) Coverage
1) The Policy covers any accidental loss or damage to the cargo described in the Policy schedule
whilst in transit by perils named in institute clauses
2) Type of Coverage under marine cargo insurance is determined by the mode of transport and
requirements of customers as given below:
3) Transit by Sea / Inland Waterways / Coastal Waters.
4) Coverage provided under this type will be as per institute clauses which are uniformly used in
international markets.Three types of coverage are offered for such transit:
Page 46

5) All Risk Institute Cargo Clause A (Cargo)
6) Basic Cover Institute Cargo Clause B (Cargo)
7) Fire and Lightning Institute Cargo Clause C (Cargo)
8) Transit by Air - Coverage provided for transit of goods by air is on All Risk basis as per
Institute Cargo Clause (Air).
9) Transit by Rail / Road - Coverage provided for inland transit of goods is classified in to three
categories:
10) All Risk - Inland Transit (Rail / Road) Clause A
11) Basic Cover - Inland Transit (Rail / Road) Clause B
12) Fire and Lightning - Inland Transit (Rail / Road) Clause C
13) Transit by Registered Post / Courier - Coverage for transit of goods by Registered Post /
Courier etc will not be provided on standalone basis. Such coverage shall be granted in
conjunction with transit by Sea / Rail / Road / Air.
2) Marine hull
Marine hull policy provides protection against damage to ship caused due to the perils of the sea.
Marine hull policy covers three-fourth of the liability of the hull owner (ship owner) against loss
due to collisions to sea. T he remaining 1/4th of the liability is looked after by association formed
by ship owners for the purpose (P and I clubs).
10. PACKAGE INSURANCE

1) Industrial All Risks Insurance.
Every successful business needs complete protection against potential loss. Industrial units are
exposed to host of risks which can put a break in operation, cause financial burden and leave you
hopelessly out of control. SBI General Insurance can help you successfully overcome these
Page 47

situations and put you firmly in control of your business operation and dream. With product like
SBI General Industrial All Risks (IAR) Insurance Policy, you can safeguard your assets that you
value most.
SBI General Industrial All Risks (IAR) Insurance Policy is targeted at corporate across Industries
(large and mid size)..
A) Coverage
i) Sum insured limits applicable to property types
ii) The coverage is on all risk basis subject to specific exclusions

iii) There are two Sections in the Policy : Section I - Material Damage and Section II - Business
Interruption
B) Features
i) All risks cover - broad coverage to the customer
ii) Two-part (sectionalised) policy, removing the need for separate policies to be taken by the
customer
iii) Basis of valuation (other than stock ) is on Reinstatement Value basis
C) Add on coverage
i) Agreed Bank Clause
ii) Architects, Surveyors and consulting engineers fees clause
iii) Designation of Property Clause
iv) Escalation Clause
v) Omission to insure additions, alterations & extensions clause
vi) Temporary removal of stocks clause
2) Business Package Insurance

Your business is the symbol of your achievement and fructification of your dream. In spite of best
efforts, sometimes accidents do occur resulting in huge financial loss and upset your dream. With
SBI General you can be in control and safe guard your dream. At SBI General we believe being
with our customers at every step and help them take control.
Page 48

With SBI General's Business Package Insurance Policy you can take on the challenges life throws
at you with confidence.
PACKAGE INSURANCE
A) Product feature
SBI General fully understands growing businesses like yours need the flexibility. Hence we allow
the customers to select the combination of Sections under which they would like to cover the
risks. We also provide the flexibility for you to choose the basis of indemnity depending on the
sections selected
B) Scope
1) This Policy, being a Package Policy contains seven covers packaged in a single policy form.
2) Section I - Fire and Allied Perils (Compulsory Section) - It covers building/s, plant and
machinery, furniture, fixtures and fittings, electrical installations and stock and stock-in-trade
against fire and allied perils.
3) Section II - Business Interruption (Optional Section) - It covers loss due to interruption or

interference with the business carried on by the insured at the premises specified and covered
under Section I, in consequence of loss, destruction or damage indemnifiable under Section I.
4) Section III - Machinery Breakdown (Optional Section) - It indemnifies the Insured against
unforeseen and sudden physical damage caused by and/or solely due to electrical and/or
Page 49

mechanical breakdown of electrical and mechanical appliances, apparatus or gadgets specified in
the Schedule
5) Section IV- Electronic equipments / appliances (Optional Section) - It covers loss or damage
to:
6) IV (A): All Electronic equipments like Computers, Medical, Biomedical, Micro- processors;
Audio/Visual equipments including the value of Systems Software
7) IV (B): External Data Media
8) IV(C): Increased Cost of Working
9) SECTION V - Burglary and Housebreaking (Optional Section) - It covers any loss or damage
to the insured property by Burglary, Housebreaking or hold up and damage caused to the premises
resulting from Burglary and/or Housebreaking.
10) Section VI - Money Insurance (Optional Section) - indemnifies the amount of loss of Money
belonging to the Insured against theft or loss, destruction or damage caused by any accident, not
otherwise excluded
11) Section VII - Plate Glass Insurance (Optional Section): - indemnifies the Insured in respect of
any accidental loss of or damage caused to Plate Glass at the Insured Premises
11. CONSTRUCTION / ENGINEERING

CONSTRUCTION INSURANCE
Page 50
1)
Contractors All Risk Insurance
Every Project under development need complete protection against potential loss. Projects under
development are exposed to host of risks which can put a break in operation, cause financial
burden and leave you feeling you have no control. SBI General Insurance can help you to
successfully overcome these situations and put you firmly in control of your business operation.
With SBI General's Contractors All Risks (CAR) Insurance Policy, you can safeguard your
projects that you value most.
A) Coverage
1) There are two Sections in the Policy.
2) Section I - It provides coverage for the property lost, damaged or destroyed by any cause,
other than those specifically excluded in the Policy, necessitating replacement or repair. The
Policy will pay or make good all such loss or damage up to an amount not exceeding the sum
specified in respect of each of the items and not exceeding in the whole the Total Sum Insured.
3) Section II - provides coverage towards: a)legal liability for accidental loss or damage caused to
property of other persons b) legal liability for fatal or non-fatal injury to any persons other than
Page 51

the Insured's own employees or workmen or employees of the owner of the works or premises due
to construction of any property.
4) The Policy also provides for payment of - a) All cost and or expenses of litigation recovered by
any claimant from the Insured. b) All cost or expenses incurred by Insured with the written
consent of the company.
CONTRACT INSURANCE
B) Add On coverage
1) On payment of additional premium, the following coverages may be selected
2) Provision for escalation
3) Clearance And Removal Of Debris
4) Additional Rate For Express Freight (Air Freight Excluded) Holiday And Overtime Rates Of
the Wages
5) Additional Rate For Air Freight Only

6) Additional Custom Duty
Page 52

7) Construction Machinery Plants And Equipments
8) Loss Due To Breakage Of Glass
9) Storage Rate At Fabricators Premises/Workshop
10) Maintenance Visits and Extended Maintenance Cover
2) Contractors Plant & Machinery

Every Project need complete protection against potential loss. Especially the contractors Plant and
Machineries used at Project sites are exposed to host of risks which can put a break in your
Project implementation, causing financial burden and stress. SBI General Insurance can help you
to successfully overcome these situations and put you firmly in control of your projects.
With SBI General's Contractors Plant and Machinery Policy, you can safeguard your Plant and
Machinery that you value most.
A) Coverage details
1) The Policy pays for unforeseen and sudden physical damage caused to the Contractors Plant
and Machinery at the Insured location due to any perils other than those which are specifically
excluded under the Policy.
2) On payment of additional premium, the following among other coverage's can be opted
3) Express Freight
4) Air Freight
5) Owner's Surrounding Property
6) Clearance and removal of debris
7) Additional Custom duty
8) Escalation
9) Third Party Liability
10) Equipment Mounted on Floating Vessel / Craft
11) Terrorism
B) Sum insured
Page 53

1) Sum Insured The Sum Insured shall be equal to the cost of replacement of each item by a new
item of the same kind and capacity which shall mean its current new replacement cost including
ordinary freight, customs duty, other charges, if any, and cost of erection
2) The Policy Schedule will include a list of all the items of the Contractors Plant, Machinery and
Equipment with a separate value against each. The same is applicable in case of multiple
locations.
3)
Erection All Risks Insurance
Every Project under erection needs complete protection against potential loss. Projects under
erection are exposed to host of risks which can put a break in implementation, cause financial
burden and leave you feeling you have no control. SBI General Insurance can help you to
successfully overcome these situations and put you firmly in control of your projects.
With SBI General's Erection All Risks (EAR) Insurance Policy, you can safeguard your projects
A) Product feature
1) This Policy offers comprehensive insurance for erection projects and provides cover during
Storage, Erection and Testing of property at the insured site
2) The Policy is provided for the entire period of the project rather than on an annual basis
B) Coverage
1) There are two Sections in the Policy.
2) Section I - provides coverage for the property lost, damaged or destroyed by any cause, other
than those specifically excluded in the Policy, necessitating replacement or repair. The Company
will pay or make good all such loss or damage up to an amount not exceeding the sum specified in
respect of each of the items and not exceeding in the whole the total Sum Insured specified.
3) Section II - provides coverage towards: a) legal liability for accidental loss or damage caused
to property of other persons b) legal liability for fatal or non-fatal injury to any persons other than
the Insured's own employees or workmen or employees of the owner of the works or premises due
to construction of any property.
4) The Policy also provides for payment of: a) All cost and or expenses of litigation recovered by
any claimant from the Insured. b) All cost or expenses incurred by Insured with the written
consent of the Company.
C) Add On coverage
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1) On payment of additional premium, the following coverages may be selected
2) Provision for escalation
3) Clearance And Removal Of Debris
4) Additional Rate For Express Freight (Air Freight Excluded) Holiday And Overtime Rates Of
the Wages
5) Additional Rate For Air Freight Only
7) Construction Machinery Plants And Equipments
8) Loss Due To Breakage Of Glass
9) Storage Rate At Fabricators Premises/Workshop
10) Maintenance Visits and Extended Maintenance Cover
4)
Machinery Breakdown Insurance
Take Control of your business's destiny with the help of SBI General Insurance
Life is full of surprises. Some are pleasant and some are not. As you continue to expand your
business horizon, you are also exposed to the risks that are associated with Machinery
Breakdown that can put a break in your growth plan. SBI General Insurance can help you to
successfully overcome these situations and put you firmly in control of your business.
With SBI General's Machinery Breakdown Insurance Policy, you can safeguard your Machineries.
A) Sum insured
The Sum Insured shall be equal to the cost of replacement of the insured property by new property
of the same kind and same capacity which shall mean its replacement cost including freight and
customs duties, if any, and erection costs. Each Sum Insured shall be separately declared for each
and every item of machinery specifying the location.
B) Scope
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1) The Policy pays for unforeseen and sudden physical damage caused to the machinery
mentioned in the policy schedule at the covered location due to any perils other than those which
are specifically excluded under the policy.
2) On payment of additional premium, the following additional coverage's can be opted for
3) Express Freight
4) Air Freight
6) Clearance and removal of debris
7) Additional Custom duty
8) Escalation
9) Third Party Liability
5)
Boiler & Pressure Plant Insurance
Large Industrial establishments like yours are the lifeline for our economy. They contribute
enormously to the growth and prosperity of our nation. It is critical to protect these lifelines as
they fuel the dream of our nation. With SBI General's Boiler & Pressure Plant Insurance Policy,
you can safe guard your dream as well as that of our nation. At SBI General we believe being with
our customers at every step and help them be in control.
Sum Insured Calculation - The Boiler and/or Pressure Plant is to be covered for their current day
new replacement value in order to avoid under-insurance.
A) Key benefits
1) Protects the Boilers and other Pressure Plants against the risk of any damage to it
2) Protects the surrounding property
3) Covers against the accidental death or injury
4) Specific expenses incurred due to loss or damage to the insured items.
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B) Scope
1) The Policy covers the insured Boiler and other Pressure Plants against the following risks:
2) Damage to the Boiler and/or Pressure Plant described in the Policy Schedule due to accident
(other than by fire)
3) Damage to surrounding property of the Insured described in the schedule or property held in
trust or on commission for which the Insured is responsible due to accident to the insured property
(other than by fire)
4) Liability towards death of or bodily injury to any person or damage to property not belonging
to the Insured in the event of explosion or collapse of the Insured Boiler/Pressure Plant.
5) Further, on payment of additional premium, the following coverages can be extended to cover
expenses relating to:
6) Express Freight, Holiday and Overtime Rates of Wages
7) Air Freight
C) Warranties
1) The cover under the Policy is subject to the following warranties:
2) The Boilers and Pressure Plants are to be annually inspected by Inspectors appointed by the
appropriate Government.
3) The Boilers and Pressure Plants shall only be operated by Attendants holding a valid certificate
of competency issued under the appropriate Boiler Act;
4) The Insured shall be in possession of the unqualified permission in writing of the competent
Inspecting Authority to operate the said Boilers and Pressure Plants. If the maximum pressure or
load upon safety valve immediately prior to any explosion or collapse was in excess of that
stipulated by the said Authority the Insured shall not be entitled to any compensation or
indemnity.
Page 57
6)
Electronic Equipment Insurance
Every successful business be it a large corporation or a SME, needs complete protection against
potential loss. Modern businesses use lot of electronic Equipments like Computers, Servers,
Audio/Video and security equipments and Industry specific Electronic Equipments that are
exposed to various risks. Any damage or breakdown to them can put a break in your growth plan
by putting a financial burden and stress.
SBI General Insurance can help you successfully overcome these situations and put you firmly in
control of your business, equipments and your dream of making it big. With product like SBI
General's Electronic Equipment Insurance Policy, you can safeguard your Electronic Equipments
A) Scope
1) The Policy is divided into three sections - Material Damage (Equipment), External Data Media
and Increased cost of working.
2) Section I - Material Damage: The policy pays for physical loss or damage caused to the
equipments covered under the policy, necessitating repair or replacement, due to any cause, other
than those specifically excluded under the Policy.
3) Section II - External Data Media: If the external data media and the information stored in such
media, which can be directly processed in EDP systems suffers any material damage due to the
peril covered under Section 1 of this Policy, the Company will indemnify the Insured for such loss
or damage. This cover is applicable while the insured data media are kept on the Premises.
Coverage against restoration of data under this Section will be granted only if backup system is
available.
4) Section III - Increased Cost of Working: The Company will indemnify the Insured for all
additional costs which the Insured incurs to ensure continued data processing on substitute
equipment if such costs arise as an unavoidable consequence of an indemnifiable loss or damage
to property insured under the Section I of this Policy.
B) Sum insured
1) Section I - The Sum Insured shall be equal to its replacement cost including freight, dues and
customs duties, if any and erection costs. The Sum Insured of the equipment insured under this
section shall include the value of System Software.
2) Section II - The Sum Insured shall be the amount required for restoring the insured external
data media by replacing lost or damaged data media by new material and reproducing lost
information.
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3) Section III - The 'indemnity limit per hour' and total sum insured stated in the schedule shall be
declared by the Insured. The total Sum Insured shall represent the aggregate limit of indemnity
payable for all events occurring during the period of insurance.
7) Consequential Loss (Machinery Breakdown)

Take Control of your business's destiny with the help of SBI General Insurance
SBI General Insurance can help you to successfully overcome these situations and put you firmly
in control of your business. With SBI General's Consequential Loss (Machinery Breakdown)
Insurance Policy, you can safeguard your business profits against possible loss due to business
interruption.
Indemnity Period - The indemnity period commences on the date of damage and lasts until such
time as the business is restored to its pre-damage level or the end of the indemnity period is
reached, whichever comes first. A consequential loss insurance policy insures earnings of the
business lost during the indemnity period. Hence, selection of the indemnity period is of utmost
importance.
A) Scope
1) The scope and purpose of consequential loss insurance is:
2) To make good the loss of net profit due to stoppage of business as a result of an insured peril.
3) To pay the standing charges which continue to accrue in spite of stoppage of business
4) To pay the additional expenditure incurred by the insured to maintain normal business activity,
during the period in which the business is affected.
5) Further, on payment of additional premium, the following coverage's can be opted:
6) Supplier's extension
7) Customer extension
8) Failure of Public power supply/Gas works/water works
9) Spoilage Risk extension
Page 59

B) Sum insured
1) The Sum Insured is based on the gross profit of the business. Gross Profit is defined as the sum
of Net Profit and insured standing charges. Additional Items which can be incorporated as part of
the Sum Insured :
2) Wages
3) Insurance of lay off and/or retrenchment compensation
4) Auditors fees
Page 60
12. MISCELLANEOUS
1)
Plate Glass Insurance
Modern business premises like yours are the pride of place for you as well as your employees.
You have built it with lot of care and passion using some of the best materials including glass. It is
critical to protect them as they are the dream workplace. With SBI General's Plate Glass Insurance
Policy, you can safe guard your dream business premises.
At SBI General, we believe being with our customers at every step and help them be in control by
so that they can take on the business challenges with confidence.
A) Scope
1) This Policy indemnifies the Insured in respect of:.
2) Any Accidental loss of or damage caused to Plate Glass at the Insured Premises occurring
during the Policy Period, and.
3) The cost of erecting any temporary boarding necessitated by such loss or damage to Plate
Glass.
4) Provided always that the liability of the Company shall in no case exceed the sum insured
stated against each item or total sum insured stated in the Schedule.
5) Additional Benefit (In-built cover): Following additional coverage's are automatically
provided by this policy without any extra premium upto a specified limit:
6) Replacing lettering, sign-writing or ornamentation affixed to the broken Plate Glass.
7) Replacing burglar alarm tape or wiring affixed to the broken Plate Glass.
8) Replacing shatter resistant or reflective film affixed to the broken Plate Glass.
9) Replacing damaged window frames, but with due allowance for wear and tear.
Page 61
B) Coverage details
1) On payment of additional premium, the following coverage's can be opted for
2) Riot, strike & Malicious Damage
C) Product feature
1) Sum insured limits applicable to property types
2) Theft cover following forcible entry to premises
3) Also includes as standard cover - circumstances when there is no forcible entry, but the theft
results from a person who is feloniously concealed on the premises, commits the theft and then
exits the premises, and there is evidence of forcible or violent exit.
4) Also includes as standard cover - theft consequent upon threat of immediate violence or
violent intimidation.
D) Benefits
SBI General Burglary Policy covers theft of property (content and Stock) at business premises
following forcible or violent entry to the premises.
Coverage details
Page 62

1) A series of automatically provided additional benefits will be included within standard policy
coverage
2) Clothing and personal effects damaged / stolen in a burglary
3) Automatic reinstatement of the sum insured to the originally selected level, following a loss
upon payment of the appropriate pro-rate additional premium once during any one period of
insurance
4) Damage to safe and or strong room upto a specific limit
5) Lump sum benefit for death or injury resulting during the theft
2) Burglary Insurance
Every successful business be it a medium enterprise or a retail store, needs complete protection
against potential loss. Incidence like burglary can put a break in your growth plan by putting a
financial burden. SBI General Insurance can help you successfully overcome these situations and
put you firmly in control of your business and dream of making it big without any hitch. With
SBI General Burglary Policy, you can safeguard your assets that you value most.
SBI General's Burglary Policy is targeted at all businesses - small or large and across all segments
and industries. SBI General's Burglary Insurance Policy is a product that may be purchased as a
distinct stand - alone product, or, when purchased within a suite of SBI General policies, can
provide very extensive coverage.
3)
Money Insurance
Every successful business be it a medium enterprise or a SME, needs complete protection against
potential loss. In business, handling money, be it in transit or in cash counters or in your safe often
causes anxiety for everyone. Incidence like burglary or theft make you feel helpless. SBI General
Insurance can help you successfully overcome these situations and put you firmly in control of
your business and dream of making it big. With SBI General Money Policy, you can safeguard
your Money no matter where it is.
SBI General's Money Policy is targeted at all businesses - small or large and across all segments
and industries. The SBI General's Money Insurance Policy is a product that may be purchased as a
distinct stand-alone product, or, when purchased within a suite of SBI General policies, can
provide very extensive coverage.
MONEY INSURANCE
Page 63
A) Coverage detail
SBI General Money Policy covers theft of money (as defined) or loss, destruction or damage
caused by an accident, not otherwise excluded.
B) Product feature
1) A series of automatically provided additional benefits will be included within standard policy
coverage
2) Bank Holiday increase - automatic increase in limits (with no additional premium charge) on
the next business day following bank holiday
3) Automatic reinstatement of the sum insured to the originally selected level, following a loss,
upon payment of the appropriate pro-rata additional premium once during any one period of
insurance
4) Lump sum benefit for death or injury resulting during theft or attempted theft
4)
Claims Philosophy
Page 64

The Fast, Fair & Transparent Claim procedure that will keep you in control
SBI General's dedicated and experienced claims team aim to deliver you a differentiated customer
service of a fast, fair, convenient and transparent claims process for the management and
settlement of your claim.
At SBI General, our philosophy is to always look for ways to pay valid claims in a fair and timely
manner. Our claims service will:
Provide assistance in emergency situations
Relieve the stress of a claim by co-ordinating repair and replacement of your assets
Keep you informed of the progress of your claim
Provide you with the choice of accessing our preferred local service providers
What's more, our skilled staffs are empowered to act and make decisions, so that your claim is
processed as quickly and efficiently as possible. This should help you get back in control as
quickly as possible.
Page 65
13.PRIMARY DATA
Q1. Name of sbi general insurance manager in Bhiwandi Branch?
ANS:- SBI general insurance manager name is suhas dadve.
Q2. When sbi starts general insurance?

ANS:- SBI general insurance started financial year 2010-2011.
Q3. Which types of general insurance provided by sbi?

ANS:- SBI general insurance provided by car insurance, health insurance, marine insurance, fire
insurance, etc.
Q4. How many branches in sbi general insurance?

ANS:- 14000 branches in sbi general insurance.
Q5. How many agents in sbi general insurance?

ANS:- Today sbi general distribution family includes over 11000 IRDA certified sbi and its
associated bank employees and over 4800 agents.
Q6. Agent personally visit the customers?

ANS:- Yes, agent personally visit the customers.
Q7. Which product mostly used in sbi general insurance?

ANS:- Car insurance mostly used in sbi general insurance.
Page 66

Q8. What are the different premium?
ANS:- Rs 100 p.a. for Rs 2 lacks cover, Rs 200 p.a. for Rs 4 lacks cover, Rs 500 p.a. for Rs 10
lacks cover, Rs 1000 p.a. for Rs 20 lacks cover.
Q9.What is current scenario of sbi general insurance?

ANS:- The sbi general insurance current scenario is very good.
Q10. Any new schemes for sbi general insurance customers?

ANS:- 1) Premium starting at Rs 1300 per year.
2) No medical test up to age of 65 years.
3) 142 days care procedures covered.
4) Cashless treatment at over 3000 + network hospitals.
5) Wide coverage from Rs 100000 to 500000.
6) Guaranted renewal.
Page 67
14.ANNEXURE
Q1. Name of sbi general insurance manager in Bhiwandi Branch?
Q2. When sbi starts general insurance?
Q3. Which types of general insurance provided by sbi?
Q4. How many branches in sbi general insurance?
Q5. How many agents in sbi general insurance?
Q6. Agent personally visit the customers?
Q7. Which product mostly used in sbi general insurance?
Q8. What are the different premium?
Q9.What is current scenario of sbi general insurance?
Q10. Any new schemes for sbi general insurance customers?
Page 68
15.CONCLUSION
This course has defined general insurance and described the types of general insurance products.
It has also explained the rules governing provision of general insurance products to customers.
You should now be able to:
Define basic terminology and explain concepts underpinning general insurance
Identify types and objectives of general insurance products
Explain rules governing provision of general insurance products.
Page 69
15. BIBLIOGRAPHY
BOOKS REFFERED
1) Principles and practices in banking and insurance
- Jitendra Aherkar
2) Innovation in banking and insurance
- Romeo s.Mascarenhas
Page 70
16. WIBLIOGRAPHY
WEBSITES
1) www.google.com
2) www.sbigeneral.in
Page 71

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SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

SBI General Distribution Network:

SBI GENERANCE INSURANCE

2. OBJECTIVES OF GENERAL INSURANCE

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

Paid driver/Cleaner employed in operation of vehicle.

Employees travelling in/driving the vehicle other than paid driver.

No Claim Bonus(NCB) Protection Cover.

a) The vehicle is renewed with us.

c) The insured vehicle is repaired in a Company authorised Garage.

Return to Invoice Cover:

1) Commercial Motor Insurance

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

2) Motor Private Car Insurance

SBI GENERANCE INSURANCE

3) Loss or damage to the vehicle:

SBI GENERANCE INSURANCE

21) Return to Invoice:

3) Motor Two Wheeler Insurance

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

Long Term Home Insurance

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

5. PERSONAL ACCIDENT INSURANCE

1) Group Personal Accident Insurance for SBI & it's Associated

Your familys happiness is priceless. Protect it.

SBI GENERANCE INSURANCE

Group Personal Accident Insurance for:

SBI Account holder (Master Policy Wording

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

SBI Account holder (Master Product Leaflet

Premium payable including Service Tax

SBI GENERANCE INSURANCE

2) Individual Personal Accident Insurance Policy

SBI GENERANCE INSURANCE

3) Permanent Total Disability (PTD) benefit comes with the following

Ambulance Charges including air ambulance:

Age & Sum Insured Eligibility:

SBI GENERANCE INSURANCE

Required % of Annual Premium

Not exceeding 1 month

Exceeding 1 month but not exceeding 350%

SBI GENERANCE INSURANCE

SBI GENERANCE INSURANCE

Medical Treatment with Up to 1% of the Sum Insured per day

in Up to 2% of the Sum Insured per day

SBI GENERANCE INSURANCE

All admissible claims Up to 25% of the SI per illness/injury

Consultants & Specialists Up to 40% of the SI per illness/injury

Up to 10% of the eligible

Up to 10% of the eligible

1% of SI up to a max of Rs. 1500.