SBI Investment Plans

SBI Investment plans are one of the renowned and trusted choices of customers when it comes to securing their future. Since 2001, the company looks after every insurance and investment need of its customers and offers solutions for the same through its wide variety of Insurance products. SBI Investment plans allow you to get desired protection and opportunities for wealth creation. A part of the premium paid is used to provide you with insurance coverage and the rest of the amount is invested in the financial instrument as per your risk-taking capacity.

Various plans such as SBI Investment plans for 5 years and SBI Investment plans for 7 years help you to build the financial corpus for the future- be it for your child's marriage, education, or retirement savings. SBI investment plans offered by SBI Life allow an individual to gain dual benefits of investment and insurance. You get the advantage of saving your money for the future as well as increasing your wealth corpus by investing in the market.

Moreover, SBI Life's savings and investment plans come with a greater number of options to choose from, whether it is the funds for investment, the sum assured, the premium payment terms, etc.

Key Features of SBI Life Insurance

SBI Life Insurance is amongst the most trusted insurance providers in India. With so many life insurance companies available in India, choosing the right insurance company can be a hectic task. It is important that you choose the right insurer and the right plan that will best suit the potential needs of your family. So, before choosing any life insurance company, you need to check some important factors of the insurance company such as claim settlement ratio, solvency ratio, annual premium, and operating network.

To get more insight into SBI Life Insurance Company's performance, take a look at the below key features that will help you to analyze the company based on its performance:

Benefits of SBI Life Investment Plans

SBI Life's investment products allow people to have the best of both worlds: investing and insurance. Below-mentioned are some of the benefits that one may avail by investing in SBI Investment Plans:

1. Good Returns

   Returns on investment plans are usually better if you compare them to other available investment options. Invest in any SBI Life investment plans that offer maximum coverage at lower premiums.

2. Riders Benefits

   Rider benefits are available under SBI Life investment plans. You can add riders like critical illness rider, accidental death, a total and permanent disability rider to get extra coverage.

3. Tax Benefits

   Investment plans allow the insured to claim tax benefits. One can get a tax exemption benefit for the premiums paid under section 80C of the Income Tax Act, 1961. The amount you receive on the maturity of the policy is also tax-free under section 10 (10) D of the Income Tax Act, 1961.

4. Additional Benefits

   You can get a discount for a higher sum assured and for on-time premium payment. The plans provide a premium waiver in case of the total and permanent disability in case of an accident. The survival benefits, death benefits, and maturity benefits provided under the SBI investment plans are unbeatable.

How To Buy SBI Life Insurance Plans?

SBI Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

How to File SBI Life Term Insurance Claims

Filing a claim for SBI Life Plan is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for SBI Life Term Plan, you need to follow the below-mentioned steps.

Claim Intimation

• The very first thing to do while filling a claim is to intimate the company immediately by filling out an online claim form. To do this, you should visit the claims and maturity section on the company's website.
• Secondly, send the duly filled claim form along with the supporting documents either by post or by visiting the nearest branch of the company.
• You can also mail the documents to claims@sbilife.co.in.

A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Document Submission

Submit the necessary documents requested by the company to process the claim. In the case of natural death-

You will be required to submit a few necessary documents while filing for a claim. Here is a list of some of these documents:

• Claimant Statement/Claim intimation form duly filled and attested by the claimant.
• Policy document.
• Death certificate original as well as photocopies issued by local municipal bodies located in your area.
• Identity proof and address proof of the nominee/claimant.
• Bank passbook canceled cheque or bank statement of the claimant.
• Hospital records.
• Post-mortem and chemical viscera of the dead insured, if performed.
• FIR

Note: Depending upon the TnCs of the plan, you might be required to submit some additional documents as well. We recommend that you should check the specific plan brochure for that.

Claim Settlement

• After receiving the claim application, the company will assess it based on the claim documents submitted and the information provided by the life assured in their proposal form.
• If the application gets approved by the company, the claim amount will be provided to the nominee as per the terms and conditions of the policy.

How to Contact SBI Life Insurance Company?