A to Z about SBI Life Insurance | Buy Now

SBI Life insurance is India’s one of the leading Life insurance providing listed companies registered with IRDA in march 2001 also facilitates with plans like retirement, child education, wealth creation, and more. 

Features of SBI Life Insurance 

  • Over Rs. 133,888 crore till date.
  • 930+ branches across India
  • More than 3,15,95,523 policy holders
  • Provide plans as per your requirements. 
  • Plans like Insurance Protection Plan, Retiremnet Benefits, Childs Future plans and more.
  • Online and Offline both the options are available 
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Life Insurance plans SBI Provides

SBI has many protection plans  listed below:

1] Arogya Sheild 

This is a combo of health and a life protection plan. This provides health cover with life cover to protect your family in event of your demise. 

SL.No Eligibility CriteriaHealth Insurance CoverPure Term Life Insurance Cover
1Entry Age91days-65years18years-65years
2Policy Term3 yearsup to 40 years
3Minimum sum Insured 1,00,0005,00,000
4Maximum sum Insured3,00,00025,00,000
5Age at MaturityLife long renewals23-70 years
6Who can be coveredSelf+spouse and up to 2 dependent childrenPolicyholder
Who

2] SBI Life – eShield Next

This plan provides you with financial immunity and also takes care of your future as life continues.

SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-65 years
2 Policy Term 5years to 85/100 less entry age
3 Minimum sum Insured 50,00,000
4 Maximum sum Insured No limit
5 Age at Maturity up to 100 years
6 Who can be covered Policyholder

3] SBI Life – Saral Jeevan Bima 

This plan provides term insurance with affordable premium costs.

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SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-65 years
2 Policy Term 5-40 years
3 Minimum sum Insured 5,00,000
4 Maximum sum Insured 25,00,000
5 Age at Maturity up to 70 years
6 Who can be covered Policyholder

4] SBI Life – Poorna Suraksha

This plan provides auto-rebalance life and critical illness cover according to your age.

SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-65 years
2 Policy Term up to 30 years
3 Minimum sum Insured 20,00,000
4 Maximum sum Insured 2.5 crores
5 Age at Maturity 28-75 years
6 Who can be covered Policyholder

5] SBI Life – Sampoorn Cancer Suraksha 

This plan prepares you and your family financially to fight Cancer.

SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 6-65 years
2 Policy Term 5-30 years
3 Minimum sum Insured 10,00,000
4 Maximum sum Insured 50,00,000
5 Age at Maturity up to 75 years
6 Who can be covered Policyholder

6] SBI Life – Smart Shield 

This is a complete term plan to protect your family financially.

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SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-60 years
2 Policy Term 5-80 years
3 Minimum sum Insured 25,00,000
4 Maximum sum Insured No limit
5 Age at Maturity up to 80 years
6 Who can be covered Policyholder

7] SBI Life – Saral Sawdhan Plus

This plan provides the merit of getting your premium back with financial security.

SL.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-65 years
2 Policy Term 10-30 years
3 Minimum sum Insured 5,00,000
4 Maximum sum Insured No limit
5 Age at Maturity up to 75 years
6 Who can be covered Policyholder

8] SBI Life – Grameen Bima 

This is a pure term micro-insurance plan at affordable costs

Sl.No Eligibility Criteria Life Insurance Cover
1 Entry Age 18-50 years
2 Policy Term 5 years
3 Minimum sum Insured 10,000
4 Maximum sum Insured 50,000
5 Age at Maturity up to 50 years
6 Who can be covered Policyholder

How to claim your Insurance with SBI Life Insurance?

You can claim via two ways i.e, Online and Offline :

Online 

  1. Go to official website of SBI Life Insurance.
  2. Click on ‘ Services for existing Customers’ 
  3. Now click on ‘ claims and Maturity’ 
  4. Fill out the details asked.
  5. Click on ‘submit’
  6. Your information will verify and if all info is correct your application will be approved. 
  7. The amount will be transfer to your bank account as early as possible.

Offline

Visit your nearest SBI Life branch with the required documents and information and fill out an application form. If all info is correct your application will be approved. The amount will be transferred to your bank account as early as possible.

Contact Details 

Call – 1800 267 9090

Email – info@sbilife.co.in

Official Website – SBI Life Insurance 

FAQs

1] can I pay a premium online?

Yes, you can pay premium online by login into the SBI life website and selecting the option ‘Pay Premium Online’ option. Choose your plan and pay the premium.

2] I want to change the nominee of my SBI Life policy?

To change nominee you have to fill out the change of nomination form by visiting the nearest SBI Life branch.

3] What are the modes of payment available to pay my SBI Life premium?

Modes available are Netbanking, payment through Debit card, or credit card options are available. 

4] If I cancel my policy will my premium amount be refunded?

Yes, If you are under the free look-back period means the period in which you can cancel your policy you will be refunded. 

5] Did Income Tax Deductions cover life insurance?

Yes, Under Income Tax Act,1961 Section 80(C) and in Section 10(10D), subject to the provision stated therein. 

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