SBI Life Insurance

SBI Life Insurance is a collaboration between the State Bank of India and French Financial Institution BNP Paribas Cardiff. SBI Life Insurance has a 55.50% stake in the company and BNP Paribas Cardiff owns a 0.22% stake including other investors.

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:

SBI Life Insurance Plans

SBI Life Insurance comes with several plans that offer financial security and protection to individuals. SBI Life Insurance Company comes with a range of plans that allow the customers to choose their ideal plan as per their and their family's requirements. The company ensures to offer a plan for everyone.

1. SBI Life Online Plans

   SBI Life online Insurance Plans are hassle-free and can be bought directly through the website with minimal effort.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life eShield Next	Minimum Age:- 18 years Maximum Age:- 65 years	5 years to whole life	Rs. 50,00,000 (for online and web aggregators) Rs. 75,00,000 (for other channels)
   SBI Life eWealth Insurance	Minimum Age:- 5 years Maximum Age:- 50 years	10 to 30 years	Annualized basic premium X 10
   SBI Life- Smart Platina Plus	Minimum Age:- 30 days Maximum Age:- 60 years	23 to 39 years	Rs. 5,50,000
   SBI Life- Smart Annuity Plus	Minimum Age:- 0 years Maximum Age:- 95 years	N/A	Annuity payout: - Rs. 1,000
   SBI Life-Saral Jeevan Bima	Minimum Age:- 18 years Maximum Age:- 65 years	5/10/15 to 40	Rs. 5,00,000
   SBI Life- Sampoorna Cancer Suraksha	Minimum Age:- 6 years (Child) 18 years(Adult) Maximum Age:- 17 years (Child) 65 years	5 to 30 years	Rs. 10,00,000
   SBI Life- Smart Wealth Builder	Minimum Age:- 2 years Maximum Age:- 55 years	12 to 30 years	10 x Annualized premium
   SBI Life- Smart InsureWealth Plus	Minimum Age:- 0 years Maximum Age:- 55 years	10/15/20 and 25 years	10 x Annualized premium
   SBI Life- Smart Champ Insurance	Minimum Age:- 21 years Maximum Age:- 50 years	8 to 21 years	Rs. 1,00,000
   SBI Life- New Smart Samriddhi	Minimum Age:- 3 years Maximum Age:- 50 years	12&15 years	Rs. 63,500

2. SBI Life Savings Plan

   SBI Life Savings Plan helps you achieve your financial goals like buying your dream home, achieving financial freedom, planning your child's future, and more.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life- Smart Platina Assure	Minimum Age:- 3 years Maximum Age:- 60 years	12&15 years	Rs. 2,40,000
   SBI Life- Smart Future Choices	Minimum Age:- 18 years Maximum Age:- 50 years	12/15/20/25 and 30 years	Rs. 6,55,000
   SBI Life- Shubh Nivesh	Minimum Age:- 18 years Maximum Age:- 60 years	5/10/15 and 30 years	Rs. 75,000
   SBI Life- Smart Bachat	Minimum Age:- 6 years Maximum Age:- 50 years	12/15/20 and 25 years	Rs. 1,00,000
   SBI Life- Smart Humsafar	Minimum Age:- 18 years Maximum Age:- 46 years	10 to 30 years	Rs. 1,00,000
   SBI Life- Smart Sawdhan Plus	Minimum Age:- 18 years Maximum Age:- 65 years	10 to 30 years	Rs. 5,00,000
   SBI Life- Saral Sawdhan +	Minimum Age:- 18 years Maximum Age:- 55 years	10 to 15 years	Rs. 30,000

3. SBI Life Term Insurance Plan

   SBI Life Term Insurance Plans are designed to safeguard your family's future requirements and provide them with financial stability in case of an unfortunate event leading to the demise of the policyholder.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life Arogya Shield	Minimum Age:- 91 days Maximum Age:- 18 years	1/2/3/5 to 40 years	Rs. 1,00,000
   SBI Life Smart Shield	Minimum Age:- 18 years Maximum Age:- 60 years	5 to 80 years	Rs. 25,00,000
   SBI Life- Grameen Bima	Minimum Age:- 18 years Maximum Age:- 50 years	5 years	Rs. 10,000

4. SBI Life ULIP Plans

   SBI Life ULIP Plans offer life insurance coverage along with disciplined savings, and wealth creation with the flexibility of Systematic Monthly Withdrawal.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life- Smart InsureWealth Plus	Minimum Age:- 0 years Maximum Age:- 55 years	10/15/20 and 25 years	10 x Annualized premium
   SBI Life- Saral InsureWealth Plus	Minimum Age:- 0 years Maximum Age:- 55 years	10/15/20 and 25 years	10 x Annualized premium
   SBI Life- Smart Wealth Assure	Minimum Age:- 8 years Maximum Age:- 60 years	10 to 30 years	1.25 x Single premium
   SBI Life- Smart Power Insurance	Minimum Age:- 18 years Maximum Age:- 45 years	10 to 30 years	Annualized premium x 10
   SBI Life- Smart Elite	Minimum Age:- 18 years Maximum Age:- 60 years	10/12/15 to 30 years	7 x Single premium
   SBI Life- Smart Privilege	Minimum Age:- 8 years Maximum Age:- 55 years	5/10 to 30 years	7 x Single premium

5. SBI Life Retirement Plans

   SBI Life Retirement Plans offer stable and stress-free second innings of life to the insured individual with guaranteed annuity benefits.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life- Saral Retirement Saver	Minimum Age:- 18 years Maximum Age:- 65 years	5/10 to 40 years	Rs. 1,00,000
   SBI Life- Saral Pension	Minimum Age:- 40 years Maximum Age:- 80 years	N/A	Rs. 1,000 (Annuity)
   SBI Life- Smart Annuity Plus	Minimum Age:- 0 years Maximum Age:- 95 years	1 to 10 years (Deferment period)	Rs. 1,000 (Annuity)
   SBI Life- Retire Smart Plus	Minimum Age:- 20 years Maximum Age:- 60 years	5/15/20 to 35 years	N/A
   SBI Life- Retire Smart	Minimum Age:- 30 years Maximum Age:- 70 years	10 to 35 years	N/A

6. SBI Life Child Plans

   Secure your child's future and fulfill their aspirations with SBI Life Child Plans.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life- Smart Champ Insurance	Child:- Minimum Age:- 0 years Maximum Age:- 13 years Minimum Age:- 21 years Maximum Age:- 50 years	8 to 21 years	Rs. 1,00,000
   SBI Life- Smart Scholar	Child:- Minimum Age:- 0 years Maximum Age:- 17 years Minimum Age:- 18 years Maximum Age:- 57 years	8 to 25 years	1.25 x Single Premium

7. SBI Life Investment Plans

   SBI Life Investment plans offer dual benefits of regular income and security for your family.

   Plan	Entry Age	Tenure	Minimum Sum Assured
   SBI Life- Smart Money Back Gold	Minimum Age:- 14 years Maximum Age:- 55 years	15/20/25 years	Rs. 2,00,000
   SBI Life- Smart Money Planner	Minimum Age:- 18 years Maximum Age:- 60 years	15/20/25 years	Rs. 1,00,000
   SBI Life- Smart Income Protect	Minimum Age:- 11 years Maximum Age:- 58 years	7/12/15 years	Rs. 1,00,000

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 Term 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 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?