Founded in 2001, SBI Life is one of the most trusted life insurance companies in India. It is a joint venture between the leading global insurance company BNP Paribas Cardif and India's largest bank (State Bank of India). This joint mission has excelled in presenting insurance solutions to cater to multiple needs of its customers. The company deals in a wide range of life insurance products that include traditional life insurance plans, child plans, pension plans and savings plans, among others.
Claim Ratio |
95.03% |
Customer Assistance |
24*7 |
Number Of Branches |
23,000+ |
**Last Updated on 03-02-2021
A saving plan is a form of life insurance plan that comes out with an opportunity to save and accumulate a fund for the future. Below is the list of SBI Life saving plans for better understanding.
It is a non-linked and non-participating life endowment assurance savings product. It offers guaranteed returns with the advantage of paying premiums for a limited tenure.
Key Features:
Eligibility:
Entry age |
18 years to 50 years |
Maturity age |
65 years |
Annualized Premium |
Rs. 50000 to no limit |
Policy tenure |
12 & 15 years |
**Last Updated on 03-02-2021
SBI Life Shubh Nivesh is an individual, non-linked and participating life insurance savings product that offers insurance cover, income & saving under a single insurance plan.
Key Features:
Eligibility:
Entry age |
Minimum: 18 years Maximum: Endowment Option: Regular Premium: 55 Years Single-Premium: 60 Years Endowment with Whole Life Option: 50 Years (for both regular & single premium) |
Maturity age |
65 years |
Minimum sum assured |
Rs.75000 (x 1000/-) |
Policy tenure |
5 years to 30 years |
**Last Updated on 03-02-2021
The values may change as per the chosen plan option
SBI Life Smart Bachat is an individual, non-linked and participating life insurance savings plan with the LPPT option. It provides required financial assistance to your family and loved ones in case of any emergency.
Key Features:
1. Option A: Endowment plan
2. Option B: Endowment with in-built Accidental Death and Total Permanent Disability (AD & TPD benefit)
Eligibility:
Entry age |
Minimum: Endowment Option:6 Years Maximum: 50 years |
Maximum maturity age |
65 years |
Premium Frequency Loading |
Half-Yearly: 51.00% of annualized premium Quarterly: 26.00% of annualized premium Monthly: 8.50% of annualized premium |
Basic sum assured |
Rs. 1,00,000 to no limit |
**Last Updated on 03-02-2021
SBI Life Smart Humsafar is an individual, non-linked and participating life insurance saving plan. It is a joint life insurance plan under which you can insure yourself and your spouse.
Key Features:
Eligibility:
Entry age |
18 years to 46 years |
Policy tenure |
10 years to 30 years |
Maximum maturity age |
65 years |
Sum assured |
Rs. 1,00,000 to 5,00,00,000 |
**Last Updated on 03-02-2021
Protection plans are the safest way to secure your family's future against different uncertainties of life. Below is the list of all SBI protection plans for your convenience.
SBI Life e shield is an online term insurance plan or pure protection plan that provides a wide range of benefits at an affordable premium.
Key Features:
Eligibility:
Entry age |
Minimum: 18 years Maximum: Level Cover: 65 years Increasing Cover: 60 years |
Maturity age |
80 years for Level Cover Benefit 75 years for Increasing Cover Benefit |
Minimum sum assured |
Rs. 35,00,000 |
Premium payment mode |
Yearly, half-yearly, quarterly & monthly |
**Last Updated on 03-02-2021
SBI Life Poorna Suraksha is an individual, non-linked and non-participating life insurance pure risk premium plan that comes out with an inbuilt critical illness cover.
Key Features:
Eligibility:
Entry age |
Minimum: 18 years Maximum: 65 years |
Maturity age |
Minimum:28 years Maximum: 75 years |
Policy tenure |
10, 15, 20, 25, 30 Years |
Premium modes |
Yearly/half-yearly/monthly |
**Last Updated on 03-02-2021
SBI Life Sampoorn Cancer Suraksha is a comprehensive cancer insurance plan that comes with a host of features. The plan provides needful support to you and your family to easily go through the difficult times.
Key Features:
Eligibility:
Entry age |
Adult- 18 years to 65 years & Child- 6 years to 17 years |
Maturity age |
75 years |
Policy tenure |
5 years to 30 years |
Premium payment term |
Same as the policy term |
**Last Updated on 03-02-2021
SBI Life Smart Shield is a pure term insurance plan which provides complete financial security to your family in case of your demise. It secures your family's financial future against an eventuality.
Key Features:
Eligibility:
Entry age |
18 years to 60 years |
Maximum Maturity age |
80 years |
Policy tenure |
5 to 80 years less age at entry |
Minimum sum assured |
Rs. 25,00,000 |
**Last Updated on 03-02-2021
SBI Life Saral Shield is an individual, non-linked and non-participating life insurance pure risk premium product. The plan provides financial protection to your family.
Key Features:
Eligibility:
Entry age |
18 years to 60 years |
Maturity age |
65 years |
Basic sum assured |
Rs. 7,50,000 |
Policy term |
5 years to 30 years |
**Last Updated on 03-02-2021
SBI Life Smart Swadhan Plus is an individual non-linked and non-participating life insurance savings product that offers a guaranteed return of premiums and assurance of financial protection to your family.
Key Features:
Eligibility:
Entry age |
18 years to 65 years |
Maturity age |
75 years |
Basic sum assured |
Rs.5,00,000 to no-limit |
Policy tenure |
10 years to 30 years |
**Last Updated on 03-02-2021
SBI Life Saral Swadhan + is an individual, non-linked and non-participating life insurance saving product with the return of premium. The plan helps to meet your family's needs in case of an eventuality.
Key Features:
Eligibility:
Entry age |
18 years to 55 years |
Maturity age |
70 years |
Policy tenure |
RegularPremium: 10years LimitedPremium: 15years |
Premium frequency |
Annual |
**Last Updated on 03-02-2021
SBI Life Grameen Bima is an individual, non-linked and non-participating microinsurance life insurance pure risk premium plan that provides financial security to your family at reasonable costs.
Key Features:
Eligibility:
Entry age |
18 years to 50 years |
Policy tenure |
5 years |
Minimum sum assured |
Rs. 10,000 |
Single premium amount |
Rs.300 to Rs. 2000 |
**Last Updated on 03-02-2021
Such plans offer the dual benefit of insurance and investment. The list of all wealth creation insurance plans by SBI Life is mentioned below.
SBI Life eWealth Insurance is a ULIP product that helps you to secure your family and grow your wealth. The plan also provides required financial cover to your family in case of any eventuality.
Key Features:
Eligibility:
Entry age |
5 years to 50 years |
Maximum Maturity age |
60 years |
Policy tenure |
10 years to 30 years |
Premium payment mode |
Regular |
**Last Updated on 03-02-2021
SBI Life Smart Insure Wealth Plus is an individual, unit-linked and non-participating life insurance plan. It ensures your family's protection in the case of an eventuality.
Key Features:
Eligibility:
Entry age |
30 days to 55 years |
Maturity age |
18 years to 65 years |
Policy term |
10,15, 20 and 25 years |
Premium payment term |
Same as policy tenure |
**Last Updated on 03-02-2021
SBI Life Saral Insure Wealth Plus is an individual unit-linked and non-participating life insurance product. It is a monthly savings plan, which helps you to build your savings gradually.
Key Features:
Eligibility:
Entry age |
30 days to 55 years |
Maturity age |
18 years to 65 years |
Plan type |
Regular premium product |
Premium payment term |
Same as the policy term |
**Last Updated on 03-02-2021
SBI Life Smart Wealth Builder offers comprehensive life coverage and enhanced investment opportunity. The plan also offers guaranteed additions, which are based on the policy tenure.
Key Features:
Eligibility:
Entry age |
7 years to 55 years |
Maturity age |
18 years to 70 years |
Plan type |
Regular premium/ limited premium/ single premium |
Premium frequency |
Single/annual |
**Last Updated on 03-02-2021
SBI Life Smart Wealth Assure is an individual unit-linked and non-participating life insurance plan. The plan offers market-linked returns along with the life insurance cover.
Key Features:
Eligibility:
Entry age |
8 years to 60 years |
Maturity age |
70 years |
Policy tenure |
10 to 30 years |
Premium payment term |
Single premium |
**Last Updated on 03-02-2021
SBI Life Smart Power Insurance is a unique plan that allows wealth creation with the help of a reasonable premium.
Key Features:
Eligibility:
Entry age |
18 years to 45 years |
Maturity age |
65 years |
Policy tenure |
10 to 30 years |
Premium frequency |
Yearly/half-yearly/quarterly/monthly |
**Last Updated on 03-02-2021
SBI Life Smart Elite is a unit-linked insurance plan that comes out with dual benefits of investment and insurance. It grants useful features that empower great control to manage the investment.
Key Features:
Eligibility:
Entry age |
18 years to 60 years |
Maturity age |
65 years |
Plan type |
Limited premium/ single premium |
Premium frequency |
Single/yearly/half-yearly/quarterly/monthly |
**Last Updated on 03-02-2021
SBI Life Smart Privilege is an individual, unit-linked and non-participating life insurance plan. The plan allows you to grow your wealth with the help of 11 funds and unlimited free switches.
Key Features:
Eligibility:
Entry age |
8 years to 55 years |
Maturity age |
18 to 70 years |
Plan type |
Regular premium/ limited premium/ single premium |
**Last Updated on 03-02-2021
The values may change as per the chosen plan option
A retirement plan is a form of the investment plan, which helps you to build a corpus over a longer tenure to live a secure financial future. Check below to get a list of all SBI Life retirement plans.
SBI Life Saral Pension is an individual and non-linked participating savings retirement plan. The plan is specifically designed for those who want to stay away from market volatility to have a secure future.
Key Features:
Eligibility:
Entry age |
18 years to 65 years |
Vesting age |
40 years to 70 years |
Basic sum assured |
Rs.1,00,000 to no limit |
Plan type |
Regular premium/ single premium |
**Last Updated on 03-02-2021
The values may change as per the chosen plan option
SBI Life Retire Smart is an individual, unit-linked and non-participating pension plan. The plan assists you to secure your future by building a retirement corpus with systematic investments during your earning years.
Key Features:
Eligibility:
Entry Age |
30 years to 70 years |
Maturity Age |
80 years |
Plan Type |
Regular Premium/Limited Premium/ Single Premium |
Premium Frequency |
Single/yearly/half-yearly/quarterly/monthly |
**Last Updated on 03-02-2021
SBI Life Annuity Plus is an individual, non-linked and non-participating general annuity plan. The plan helps you to enjoy your post-retirement period without any financial worries.
Key Features:
Eligibility:
Entry age |
0 year to 80 years |
Annuity payout |
Rs. 1000 to No limit |
Annuity payment mode |
Monthly, quarterly, half-yearly or yearly |
Maximum premium amount |
No limit |
**Last Updated on 03-02-2021
The values may change as per the chosen plan option
Child insurance plans assist you to secure your child's future and fulfil their dreams. These plans provide the required financial support for different needs of your child's life such as education, marriage, etc. Below is a list of such helpful child insurance plans by SBI Life Insurance Company.
SBI Life Smart Champ is a traditional participating child insurance plan that helps you to secure your child's educational needs.
Key Features:
Eligibility:
Entry age |
Life Assured: 21 to 50 years Child: 0 to 13 years |
Maturity age |
Life Assured: 42 years to 70 years Child: 21 years |
Premium frequency |
Single premium/yearly/half-yearly/quarterly/monthly |
Basic sum assured |
Rs. 1 lakh to Rs. 1 crore |
**Last Updated on 03-02-2021
SBI Life Smart Scholar is a unique child insurance plan that comes out with twin benefits of market-linked returns and life insurance cover. The plan will assist your child to achieve his/her dreams.
Key Features:
Eligibility:
Entry age |
Life assured: 18 years to 57 years Child: 0 years to 17 years |
Maturity age |
Life assured: 65 years Child: 18 years to 25 years |
Policy tenure |
8 years to 25 years |
Premium payment term |
SP or 5 years to 25 years |
**Last Updated on 03-02-2021
A money back plan offers a percentage of sum assured at regular intervals (instead of a lump sum amount) at the end of the policy tenure. Below is the list of SBI Life Money Back plans for your better understanding.
SBI Life Smart Money Back Gold is an individual, non-linked and participating life insurance savings product. The plan offers twin benefits of life cover and periodic income to deal with different financial requirements.
Key Features:
Eligibility:
Entry age |
Minimum: 14 years Maximum: Regular Premium: 45 Years Limited Premium & Single Premium: 55 Years |
Maturity age |
70 years |
Basic sum assured |
Rs.2,00,000 to no limits |
Premium payment frequency |
Single/annually/half-yearly/quarterly/monthly |
**Last Updated on 03-02-2021
SBI Life Smart Money Planner is an individual, non-linked and participating life insurance savings plan that offers a life insurance cover and an additional benefit of guaranteed cash flow at regular intervals.
Key Features:
Eligibility:
Entry age |
18 years to 60 years |
Maturity age |
75 years |
Sum assured |
1 Lakh to 5 Crores |
**Last Updated on 03-02-2021
SBI Life Smart Income Plan is an individual, non-linked participating life insurance plan that comes out with the benefit of regular cash inflow and life cover over a tenure of 15 years.
Key Features:
1. SBI Life - Preferred Term Rider.
2. SBI Life - Accidental Death Benefit Rider.
3. SBI Life - Accidental Total and Permanent Disability Benefit Rider.
Eligibility:
Entry age |
8 years to 58 years |
Maturity age |
18 years to 65 years |
Basic sum assured |
Rs. 1 lakh to no limit |
Policy term |
7/12/15 years |
**Last Updated on 03-02-2021
The values may change as per the chosen plan option
The company ensures to provide a hassle-free death (including rider claim) and maturity claim process. For the same, you just have to follow the below-mentioned steps.
For offline process
Visit the nearby branch of SBI Life Insurance Company. Submit the duly filled claim form along with the supporting documents. The company will verify the details and will inform you regarding the approval/rejection of the claim via mail/phone call.
For the online process
Note- If the company requires any other information/document to check the admissibility of the claim, the claimant should provide it at the earliest.
Mandatory Documents
Additional documents (if required)
The required documents are:
You can easily update the address by logging to MyPolicy account >> Transact Online >> Change of Address >> and fill the respective fields. Make sure to submit the address proof is in PDF/ JPE format.
To update your bank a/c details, you have to log in to your My Policy account >> Transact Online>>Update Bank A/c details and follow the procedure. Ensure that the bank account proof is in PDF/ JPE format.
No, this is not allowed.
You can easily revive your plan by paying the outstanding premium (including interest) and submitting a proof of continued good health to the SBI Life Insurance
In case you have not received any SMS regarding the confirmation of dispatch of the policies, please get in touch with us by writing an email on helpdesk@policyx.com or call on our toll-free number (1800-4200-269). Don't forget to mention your Proposal Number or Transaction Number when sending such a request for a timely response.
No, if you are using the same ID, then you can enrol the policy under one login name. Customer ID is the same for all policies belonging to the same policyholder.
You can follow the steps given below:
There can be two situations:
For Registration of nomination, you need to submit-
Last updated on 03-02-2021