SBI Life Insurance

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SBI Life Insurance Company Limited

SBI Life Insurance- A joint venture between State Bank of India and BNP Paribas Cardif. SBI has74% of the total capital and BNP Paribas Cardif holds 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.

They provide secure and helpful solutions that can meet upcoming expenses easily. It prepares you to face unwanted situations that can occur in the future.

Why Life Insurance

Life insurance coverage is the method to ensure that your dependents retain monetary protection even after your retirement, death or in case you could now not provide for them due to accident/ disability. By means of entering into a fixed tenure agreement with a life coverage company and paying the premium, you safeguard the monetary pastimes of your family. In case you die during the tenure of the policy, your beneficiaries acquire tax-free money payout of a predetermined quantity. Historically, life insurance coverage removes the chance of any uncertainity popping up because of the loss of a bread winner for the own family. However, with the changing lifestyle, people need a complete cover. An amazing life coverage can provide any or all of the following:

Natural life cover

Saving plans

Child plan

Financial investment

Retirement planning

In preference to doing away with a life insurance plan after accomplishing their Fifties, human beings today are taking help of their insurance policy for monetary funding making plans for their complete family which includes their unborn youngsters. A variety of coverage products are present in the market to cater to each and every financial requirement of the insurer. A few crucial advantages of purchasing life insurance in India at an early age are:

Meet the fixed price

Nearly every family has a few long term fixed obligation like a domestic loan, education loan or medical loan. You would not like to leave your family harassed with a hefty loan responsibility in case something happens to you. The coverage will help them better to address any incurring costs.

Take benefit of lesser premium

A younger and healthy person will have to pay a smaller premium as compared to an older and unhealthy one. Hence doing away with a long time insurance coverage for say 30 years will assist you to save considerably. Except, the benefit is that in case you do develop some health issues later in life, your coverage will assist you to address the financial ramifications of it.

Safety for dependents

Death is unavoidable, but the pain of the loss may be notably decreased if the surviving memers have a monetary planning to fall back upon. Your demise should not be the reason for your family to scale back your child's education needs, medical aid as they cannot come up with the money for bearing the costs. The peace of mind you get from knowing that your family will always stay in peace is the largest reward of investing in life coverage.

Low priced life insurance

For people who cannot afford to take different varieties of insurance for special desires like medical insurance, home coverage and so forth, taking a low-cost life insurance is a better choice. Your insurance policy will help you meet with any clinical costs because of terminal contamination.

Meet immediate financial wishes

Considering that life insurance benefits can be accessed at once, they could help you pay funeral costs and property agreement expenses.

Stay independent all your life

The wish to live a dignified life and no longer dependednt on others can be fulfilled with a life insurance plan coverage.

Whichever life insurance coverage you choose, make sure to understand all the phrases and conditions of the policy. Additionally, calculate your minimum insurance requirements to ensure that your coverage amount is not insufficient when the actual need arises. Eventually, invest a realistic quantity, do not take out an unreasonable premium policy that can become a massive drain on your monthly earnings.

Claim Assistance

When it comes to claim, you are required to provide complete and detailed information about the same. The claim is something for which you have invested so far. For getting your claim done, you must ensure that the state in which you file your claim is good enough to get assistance. For it, you must read the terms and conditions, inclusions and exclusion as well. The process of filing claim with SBI Life insurance is really very simple. You have to just submit the relevant document along with the claim form. Don’t forget to inform your insurance company asap. SBI Life insurance company have a proven record in settling claim so you can trust on it easily.

Documents Required For filing Claim

As we discussed earlier, the claim settlement process is fast and easy. It carries transparency in the entire procedure You can file your claim whenever the need arises. If you have any query then you can ask the company, it will be happy to serve you with the needful information.

Date and time of accident

Policy Number

Insured Contact Details, etc

Age proof of insured

SBI Life Insurance Plans

SBI Life Smart Shield: It is a traditional Non - Participating Pure Term Insurance Plan.

SBI Life Saral Shield: It is a traditional Non - participating Pure Term Insurance Plan at an affordable price.

SBI Life- e Shield: It is an Individual, Non Linked, Non Participating pure term plan, with choices and advantages specially designed for those who want financial protection at a reasonable price.

SBI Life - Grameen Bima: It is an individual, pure term, micro-insurance plan for the publicly deprived and economically vulnerable section of the population.

SBI Life - eWealth Insurance: A non-participating Online Unit Linked Insurance Plan (ULIP).

SBI Life - Smart Wealth Assure: This plan helps you to get market related returns along with insurance cover at a single premium.

SBI Life - Smart Scholar: This plan secures child’s future by gaining from the financial markets.

SBI Life - Smart Power Insurance: It provides insurance coverage and good investment options.

SBI Life Smart Wealth Builder: It will help you in meeting all the financial and insurance needs at a single premium.

SBI Life Saral Maha Anand: It will help you in managing your investment as per your needs.

SBI Life Smart Elite: It is a Ulip that provides you the flexibility to pay premium for a limited term or a single premium.

SBI Life - Smart Champ Insurance: It is a comprehensive child education plan.

SBI Life - Saral Pension: It is a traditional pension plan that provides you secure future and a joyous post retirement life.

SBI Life - Retire Smart: It provides guaranteed returns.

SBI Life - Annuity Plus: It offers a wide range of annuity choices.

Other Plans that SBI offers

- Retirement solutions

- Group Protection plans

- SBI-eWealth Insurance

Contact Address

SBI Life Insurance
Natraj, M.V.Road & Western Express Highway Junction,
Andheri (East),Mumbai-400069
Tel : 022-61910011 Fax: 022-56621471

SBI Life Insurance News

Life Insurance Penetration Drops

November 26th : The life insurance penetration in India has fallen down to 3.3 percent of the gross domestic product as compared to previous years. The insurance experts said that the high inflation has stifled the savings and unappealing advantages have further disheartened investors to spend funds in insurance plans. The collections have fallen by


Thursday November 26, 2015

Life Insurance Premium Income Rises in April- November 2015

In April- November, the life insurance sector has registered a growth of 9 percent in overall annual premium, chiefly because of volatile market conditions. This growth has been registered by large private sector companies. During the period, overall APE- a way to normalize policy premium into the equivalent of usual annual premium- including personal and


Thursday December 17, 2015

Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA

On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.  “The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance


Monday November 13, 2017

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