SBI General Introduces Health Alpha Health Insurance Product
SBI General Insurance, a leading private general insurer backed by State Bank of India, launched its flagship retail health insurance offering, Health Alpha, aimed at enabling customers to gift personalised health protection during the festive season. The product provides over 40 distinct coverage options and allows sum insured selections ranging from ₹5 lakh to unlimited, with a special “Endless Sum Insured” benefit that covers eligible hospitalisation expenses beyond the base sum insured for a single claim when the chosen sum insured is ₹10 lakh or higher.
Eligibility extends to a wide set of relatives who have an insurable interest, including legally married spouses, children, parents, siblings, parents‑in‑law, nephews, nieces and other qualifying family members, subject to the product’s terms. Policyholders may also add optional riders such as a 10x Cumulative Bonus that accrues for each claim‑free year, a Gym and Sports Injury Cover offering OPD benefits for specified injuries sustained during hobby sports or fitness activities (available up to age 55), and a Plan Ahead benefit that permits extending waiting‑period continuity to a spouse up to 35 years of age and up to two newborn children, provided enrollment timelines are met.
Health Alpha supports a five‑year policy tenure, with tenure‑based discounts, and offers a 5% welcome discount for new customers who purchase the policy within five days of receiving a quote. The product is positioned as a “Your Health. Your Cover. Your Way” solution, encouraging customers to view health insurance as a lasting, meaningful gift rather than a conventional present.
Speaking on the launch, Mr. Mohd. Arif Khan, Deputy Chief Executive Officer of SBI General Insurance, emphasized that “festivals are a celebration of relationships… the most meaningful gesture we can make is to help protect the health and financial well‑being of the people who matter to us.” He highlighted the company’s intent to make health insurance more personalised, accessible, and aligned with individual lifestyle needs.
Company Background
Founded in 2009, SBI General Insurance has expanded from 17 branches in 2011 to a nationwide network of 182 branches and leverages a multi‑distribution model that includes bancassurance, agency, OEM, broking, retail direct channels, and digital collaborations. The insurer operates through 23,000+ SBI branches, agents, financial alliances, OEMs, and digital partners, reaching remote areas across India. It serves retail, corporate, SME, and rural segments with a diversified product portfolio.
In FY 2025‑26, the company reported Gross Direct Premium (GDP) of ₹15,904 crore, reflecting a 14.5% year‑on‑year growth. It employs over 9,900 staff and has earned multiple accolades, such as Domestic General Insurer of the Year – India and Claims Initiative of the Year – India at the Insurance Asia Awards 2025, Smart Insurer 2025 at the ETNOW Insurance Summit, and India’s Leading General Insurance Company (Mid) at the Dun & Bradstreet BFSI & Fintech Summit 2026, among others.
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