SBI Investment Plans
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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:

  • Solvency Ratio
    SBI Life Insurance has a Solvency Ratio of 2.33 as per the IRDAI annual report 2020-21. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.
  • Claim Support
    Claim support of an insurer is a metric that helps you analyze its claims settling ability. As per the IRDAI annual report of 2020-21, the claim support of Bajaj Allianz Life Insurance is 93.09%.
  • Annual Premium
    As per the annual report of IRDAI 2020-21, the Annual premium of Bajaj Allianz Life Insurance is 50,254.17 Cr.
  • PAN India Presence
    SBI Life Insurance has a wide presence with over 40,000 partner branches and 970 offices PAN India. SBI Life ensures that the policyholder can directly visit their nearest branch office for any of their policy-related or claim-related queries.
bharti axa life Insurance Key Features

SBI Life Investment Plans

SBI Life Income Protect

It is a participating insurance cum savings plan where the policyholder pays regular premiums for a term of 7, 12, or 15 years and gets annual payouts for the next 15 years.

Unique Features

  • Flexible Policy Term
  • Regular Income benefit
  • Lump sum available

SBI Life- Smart Money Planner

This policy allows for lower premium payment terms while maintaining coverage throughout the policy term.

Unique Features

  • Regular income benefit
  • Maturity benefit
  • Flexible premium payment

SBI Life- Smart Money Back Gold

A savings product with the added advantage of life cover and cash inflow at regular intervals.

Unique Features

  • Three Money Back Options
  • Flexible policy term
  • Premium discounts available

SBI Life Products

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.

Investment Plans Companies

Look after your investment needs with the below-mentioned IRDAI approved Investment Plan companies.

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.


  • Fill out the form given at the top of this page with the necessary details.
  • Select your income and city. Click on 'Proceed'.
  • Update your education and occupation details.
  • Choose your preferred plan and click on 'Buy this plan'.
  • Select policy term, premium period, and riders (if required) and then proceed to do the payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Steps to buy from SBI Life Insurance company:

  • Visit the official website of SBI Life Insurance Company.
  • Click on 'Money Back Plans' on the navigation bar and select the category of plans you want to purchase.
  • Click on the 'Buy Now' button and fill in the required details.
  • Tap on 'Next' and select a plan as per your requirements.
  • Select the cover option you want and make your payment.

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

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?

SBI Life Insurance Co. Ltd,8th level Seawoods Grand Central, Tower 2,Sector 40, plot No.R-1, Seawoods, Nerul,Navi Mumbai- 400706.

Toll-Free Number: 1800 267 9090 (Available from 9:00 am to 9:00 pm IST)

SBI Investment Plans: FAQs

1. Is there a lock-in period for SBI Life investment plans?

Yes, you may need to serve a lock-in period for the liquidity of the amount. The lock-in period may vary with the plan and it is specified in the policy document.

2. What are the documents required to claim in the case of the death of the policyholder?

The documents required to claim in the case of death of the assured life are:

  • A duly filled claim form.
  • Original copy of the policy received at the time of the issuance of the policy.
  • KYC of identity proof of the beneficiary mentioned in the policy document.
  • Original death certificate of the assured.

3. What is the process for the liquidity of the maturity benefits after completion of the policy

You can request the liquidity of maturity amount (both online and offline). Either, you can visit the official site of SBI Life Insurance and request for the claim after login into your account or you can also call the customer care representative and get proper guidelines about the procedure.

4. How can I check the policy details of my SBI Investment Plans?

The company offers several ways through which one can check their SBI Investment policy status.

  • Online through the Customer Portal: Log in to your "MyPolicy" account through Customer Self Service. Enter customer ID, date of Birth and policy number. The details of the policy along with the status will be displayed on the screen.
  • Via SMS: Get your policy details by sending the following SMS to 56161 OR 9250001848

5. I want to change my nominee of SBI Short term Investment plans. Can I do that?

Yes, you have the option to modify your nomination. You can submit the change in nomination form at any SBI Life branch or the Central Processing Centre (address given below).

SBI Life Insurance Co. Ltd.
Central Processing Center
8th Level, F2 Wing, Seawoods Grand Central,Tower 2,
Sector-40, Seawoods, Nerul Node,Navi Mumbai-400 706

6. I want to cancel my SBI investment plans. Can I do that?

Yes, as per the IRDAI, you can cancel your policy within a free-look period, which means that you have the ability to evaluate the terms and conditions of the policy and if you are not happy with it, you can easily cancel your policy within the period of 15 days of receipt of policy.

However, once your free-look period is over, you need to personally visit the bank office and submit a written application stating your concern in order to cancel an SBI Life investment plan.

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Naval Goel

Reviewed By : Naval Goel

Naval Goel is the CEO & founder of Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of Insurance Web Aggregator.