SBI Life Insurance Overviews

SBI Life Insurance is a product of a joint venture of the largest state-owned banking company in India, i.e., SBI or State Bank Of India and leading global insurance company BNP Paribas Cardif. SBI Life Insurance Company is one of the top life insurance company in India catering to the life insurance needs of a huge number of customers all over India. Out of the total capital, SBI owns 62.1% share and BNP Paribas Cardif holds 22% of the share. Almost 12% of the capital is with the public and other investors like MacRitchie Investments Pte Ltd. and Value Line Pte Ltd. hold 1.95% of the total capital. With the motive to comprehensively invest and insure, SBI Life Insurance Policy provides a wide range of products based on life insurance, child plans, investment plans, pension plans and much more. SBI Life Insurance Plans prepares you financially for the future’s unforeseen incident.

Why should you choose SBI Life Insurance Plans?

SBI Life Insurance Policy provides financial backup to the dependent of the insured person by engaging in a fixed tenure agreement where you need to pay SBI Life Insurance premium and can also go for SBI Life Insurance online premium payment. SBI Life Insurance Plans offer a wide range of SBI Life Insurance products to provide SBI Life Insurance benefits to the customers. You can check your SBI Life Insurance policy status online using SBI Life Insurance login. Moreover, you can also opt for SBI Life Insurance renewal. You can check your SBI Life Insurance policy statement and SBI Life Insurance product details using SBI Life Insurance online.
Here are some of the important points as to why you should choose SBI Life Insurance policies-

• In 2016, SBI Life Insurance Policy won ‘Life Insurance Company of the Year’ award. Also, the award of ‘Bancassurance Leader Life Insurance (Large Category)’ has also been awarded to SBI Life Insurance Policies.
• SBI Life Insurance products have also won many awards in different categories of ‘Fintelekt Insurance Awards of 2017’.
• You can easily go for SBI Life Insurance online method to get SBI Life Insurance details on SBI Life Insurance policy details, SBI Life Insurance schemes, SBI Life Insurance best plans, SBI Life Insurance policy check, SBI Life Insurance online payments, SBI Life Insurance renewal and so on.
• SBI Life Insurance Policies are of two variants- SBI Life Insurance Individual Plan and SBI Life Insurance Group Plan which are further classified.
• To cater to the various needs of the customers, a wide range of SBI Life Insurance products and SBI Life Insurance plans under SBI Life Insurance individual plans are offered namely- SBI Life Insurance Saving Plans, SBI Life Insurance Protection Plans, SBI Life Insurance ULIP plans or Wealth Creation with Insurance, SBI Life Insurance Pension Plan or Retirement Plans, SBI Life Insurance Child Plan, SBI Life Insurance Money Back Policy details or Income Plans and SBI Combo Plans.
• SBI Life Insurance Group Plan is divided into- SBI Life Insurance Corporate Solutions Plans, SBI Life Insurance Group Loan Protection Plans, SBI Life Insurance Group Micro Insurance Plans.
• You can pay SBI Life Insurance one time premium using SBI Life Insurance online payment login by entering SBI Life Insurance policy number details.
• SBI Life Insurance policies not only helps in life coverage but also enhances your wealth via stock market investments using SBI Life Insurance ULIP plans.
• You can avail tax deduction under Section 80C based on your SBI Life Insurance premium payment. Also, you can enjoy tax-free money that is received on maturity under Section 10(10D) of the Income Tax Act, 1961.
• After you claim your SBI Life Insurance, you can check your SBI Life Insurance claim status through SBI Life Insurance online method.
• You can opt for SBI Life Insurance online premium using SBI Life Insurance online payment which eases up the premium payment process.
• With the help of SBI Life Insurance Term Plan for almost 30 years of policy tenure, you will get the advantage of the death benefit.

Following are some of the crucial points on SBI Life Insurance details-

Grievances solved (in %)	100%
Ratio of Claim Settlement	96.76%
Group Death Claims (in %)	99.35%
Solvency Ratio	2.06 (for the quarter ended March 31, 2018)

Types of SBI Life Insurance Policies

SBI Life Insurance Plans financially protects you from future unforeseen incidents. SBI Life Insurance Policies offers different kinds of SBI Life Insurance products based on your needs. You can insure your future using SBI Life Insurance Policy and opt for SBI Life Insurance online premium payment.
SBI Life Insurance Policies are of two types-

• SBI Life Insurance Individual Plans
• SBI Life Insurance Group Plans.

Further they are divided into different categories.
SBI Life Insurance Individual Plan is categorized as follows-

SBI Life Insurance Individual Plans
SBI Life Insurance Savings Plans	SBI Life Insurance Protection Plan	SBI Life Insurance ULIP Plans	SBI Life Insurance Retirement Plans	SBI Life Insurance Child Plans	SBI Life Insurance Money Back Policy/Income Plans
SBI Life Insurance Smart Samriddhi	SBI Life Insurance eShield	SBI Life Insurance Smart InsureWealth Plus	SBI Life Insurance Saral Pension	SBI Life Insurance Smart Champ Insurance	SBI Life Insurance Smart Money Back Gold
SBI Life Insurance Shubh Nivesh	SBI Life Insurance Poorna Suraksha	SBI Life Insurance Saral InsureWealth Plus	SBI Life Insurance Retire Smart	SBI Life Insurance Smart Scholar	SBI Life Insurance Smart Money Planner
SBI Life Insurance Smart Bachat	SBI Life Insurance Sampoorn Cancer Suraksha	SBI Life Insurance Smart Wealth Builder	SBI Life Insurance Annuity Plus		SBI Life Insurance Smart Income Protect
SBI Life Insurance Flexi Smart Plus	SBI Life Insurance eIncome Shield	SBI Life Insurance Smart Wealth Assure
SBI Life Insurance CSC Saral Sanchay	SBI Life Insurance Smart Shield	SBI Life Insurance Smart Power Insurance
SBI Life Insurance Smart Women Advantage	SBI Life Insurance Saral Shield	SBI Life Insurance Smart Elite
SBI Life Insurance Smart Humsafar	SBI Life Insurance Saral Swadhan +	SBI Life Insurance Smart Privilege
	SBI Life Insurance Smart Swadhan Plus	SBI Life Insurance Saral Maha Anand
	SBI Life Insurance Grameen Bima	SBI Life Insurance eWealth Insurance

SBI Life Insurance Group Plan is further divided into levels-

SBI Life Insurance Group Plan
Corporate Solutions Plans	Group Loan Protection Plans	Group Micro Insurance Plans
SBI Life Insurance Kalyan ULIP Plus	SBI Life RiNn Raksha	SBI Life Insurance Shakti
SBI Life Insurance CapAssure Gold		SBI Life Insurance Grameen Super Suraksha
SBI Life Insurance Gaurav Jeevan
SBI Life Insurance Pradhan Mantri Jeevan Jyoti Bima Yojana
SBI Life Insurance Sampoorn Suraksha
SBI Life Insurance Swarna Jeevan

SBI Life Insurance Indiviudual Plans

SBI Life Insurance Individual Plans offers financial security to individuals against any financial stress that might bother you in the future. Based on SBI Life Insurance Policy details, there are different classifications of SBI Life Insurance Products which are individual based plans explained below-

SBI Life Insurance Group Plans

With SBI Life Insurance Group Plan, not only individuals but also a group can be easily protected and insured. A group of individuals is easily benefitted with SBI Life Insurance group plans which are generally purchased for the employees by the employers.
Here is the division of SBI Life Insurance Group Plans-

SBI Life Insurance Group Plans
SBI Life Insurance Corporate Solutions Plans	SBI Life Insurance Group Loan Protection Plans	SBI Life Insurance Group Micro Insurance Plans
SBI Life Insurance Kalyan ULIP Plans	SBI Life RiNn Raksha	SBI Life- Shakti
SBI Life Insurance CapAssure Gold		SBI Life Insurance Grameen Super Suraksha
SBI Life Insurance Gaurav Jeevan
SBI Life- Pradhan Mantri Jeevan Jyoti Bima Yojana
SBI Life Insurance Sampoorn Suraksha
SBI Life- Swarna Jeevan

The categories of SBI Life Insurance Group Plan is explained below-

SBI Life Insurance Group Plan- Corporate Solutions Plans
Policy Name	Entry Age	Maturity Age	Policy Term	Group Size
SBI Life Insurance- Kalyan ULIP	18years	79years	1 year- no max limit	10 members. No max limit
SBI Life Insurance- CapAssure Gold	Based on the scheme rule	Dependent on the scheme	1 year and is renewable	10 members. (No maximum limit)
SBI Life Insurance- Gaurav Jeevan	18 years	85 years	–	–
SBI Life- Pradhan Mantri Jeevan Jyoti Bima Yojana	18-50years	55years	1 year renewable term	Not applicable (n.a)
SBI Life- Sampoorn Suraksha	18-79years	80years	–	10members
SBI Life- Swarna Jeevan	30-85years (for members) 18-85 years (for spouse)	–	–	10 members (no limit on the maximum number)
SBI Life Insurance Group Plan- Group Loan Protection Plans
Policy Name	Entry Age	Maturity Age	Policy Term	Sum Assured
SBI Life RiNn Raksha	16-70 years	75 years	Up to 30 years	Rs. 10,000 each member (no max limit)
SBI Life Insurance Group Plan- Group Micro Insurance Plans
Policy Name	Entry Age	Maturity Age	Policy Term	Sum Assured
SBI Life Insurance- Shakti	18-60 years	–	5years	Rs. 10,000-Rs. 2lakhs
SBI Life Insurance- Grameen Super Suraksha	18-60 years	–	5years	Rs. 5000- Rs. 2lakhs

Documents required for SBI Life Insurance Policy

You can easily go for SBI Life Insurance Policy and claim the insurance by submitting some important documents.

Documents to buy SBI Life Insurance Policy

• PAN Card or Birth Certificate for Age Proof
• Utility Bills for Address Proof
• Voter ID or passport for ID proof
• ITR copy or Employer’s Certificate for Income Proof
• Updated Bank Account Details
• Application Form

Documents to Claim SBI Life Insurance Policy

SBI Life Insurance claim process is easy and transparent. In case of any eventuality, you easily claim your SBI Life Insurance policy by intimating the insurance company by providing your claim type and policy number. SBI Life Insurance policy claims are of varied kinds which require different sets of documents.
Following are the list of documents required for different claim process of SBI Life Insurance policy-

Individual Death Benefits

• Claim Form
• Death Certificate (either attested copy or original issued by local authority)
• Original Policy Document
• Claimant’s Photo ID Proof
• Claimant’s current address proof
• Bank a/c statement/cancelled cheque/passbook
• Certificate of hospital treatment and from the medical attendant
• Employer’s certificate for salaried employee
• Final Police Report/Chemical Analysis Report
• Panchnama/FIR/Post Mortem Report

Survival Benefits

• PAN Card
• Policyholder’s photo ID proof
• Address proof of the policyholder
• Updated bank a/c statement/Crossed Cheque

Living Benefits

• Maturity of an individual & Pension Maturity
• Insured’s photo ID proof
• Original Policy Documents
• Crossed Cheque/Bank Statement of the policyholder
• Discharge Voucher on Maturity
• PAN Card
• Insured’s current address proof
• Few months before the due date- Option Sheet 3

Annuity (For Individual & Group)

• Existence Certificate

NRIs

• Form 10F
• Residential Proof issued by the residing country’s government
• Tax Residency Self Declaration

SBI Life Insurance Claim Process

When you claim SBI Life Insurance policy, then the company follows IRDA norms to settle your SBI Life Insurance policy claim.

• Claim Intimation

  You need to intimate the insurance company about your SBI Life Insurance claim either by submitting the claim form offline or going for SBI Life Insurance online process.

• Required documents

  Then you need to submit the necessary documents as per the claim type of SBI Life Insurance policy. You can either submit it by going to the banks directly or by mailing it.

• Assessment of Claim

  After receiving the documents, the form and the documents will be assessed. And for any additional requirements proposed by SBI Life Insurance, you should meet the necessities.

• Amount Claim

  SBI Life Insurance Company will process the claim amount and its admissibility.

• Claim Settlement

  After the complete assessment of the claim and proper verification, SBI Life Insurance policy will approve the claim amount which will be given to the concerned person.

• Any query

  In case of any query related to the claim, you can check SBI Life Insurance claim status online or can reach to SBI Life Insurance customer care number- 1800 267 9090

When you can’t claim SBI Life Insurance Policy?

Though SBI Life Insurance policy offers a wide range of SBI Life Insurance products to fulfill varied kinds of insurance needs. But there are some cases when you can’t claim for SBI Life Insurance policy such as-

• Due to any terrorist attack, invasion or war.
• Any-pre-existing situation.
• Death due to alcohol consumption or drug intake not prescribed.
• Casualty due to any hazardous activity or sport.
• Attempted suicide or committed suicide

SBI Life Insurance Policy Status Details

SBI Life Insurance policy status check process is very easy and user friendly process. After you opt for SBI Life Insurance premium payment, you can either check your SBI Life Insurance policy status online or go for the offline method.

Online Method

• You have to visit SBI’s official website for SBI Life Insurance policy status online check.
• Then you need to input your policy number, customer ID, password and birth date.
• You then have to enter SBI Life Insurance details of your SBI Life Insurance policy and click on submit.
• After that you need to select the option to view the enrolled policies, you will be able to see the premium amount, vested bonus and the enrollment date.
• So, you can opt for SBI Life Insurance policy check online with using the policy number.

Offline Method

You can check your SBI Life Insurance policy status through SBI Life Insurance customer care number- 1800 267 9090, or SMS at 56161 or can mail at- info@sbilife.co.in

SBI Life Insurance Renewal Process

To ensure complete life coverage, you need to go for SBI Life Insurance renewal. With the help of SBI Life Insurance renewal, you can meet your insurance requirements and be prepared financially for any unforeseen incident. Either you can go directly or can opt for SBI Life Insurance renewal online payment following the below-mentioned process-

• You need to click on ‘Service Tab’ for SBI Life Insurance renewal online payment.
• Then you have to click on SBI Life Insurance Online Premium Payment.
• Then you proceed to input your mobile no., policy number, birth date.
• Lastly, you click on ‘Submit’ for SBI Life Insurance renewal online payment.

Things you should remember before buying SBI Life Insurance Policy

• Based on your insurance requirements, you need to select SBI Life Insurance policy. There is a wide range of SBI Life Insurance plans which will help you to provide life insurance coverage.
• You can opt for SBI Life Insurance premium payment which is of three kinds- Single Premium, Regular Premium, and Limited Premium Payment mode.
• Before you go for SBI Life Insurance Policy, you need to check the terms and conditions of the insurance plan.
• You need to check the maturity & death benefit and also tax benefit of SBI Life Insurance Plans.
• You can opt for SBI Life Insurance premium payment either through offline method or can go for SBI Life Insurance online premium payment.
• If you opt for SBI Life Insurance Policies at an early age, then you need to pay SBI Life Insurance premium at a lower rate. So, you must remember that SBI Life Insurance premium payment is highly affected by the entry age.
• There are some variants of SBI Life Insurance products which offers premium waiver to the non-smoker applicants.
• Using SBI Life Insurance Premium Calculator, you can evaluate the amount of insurance coverage making the calculation easy.
• You can opt for SBI Life Insurance term plans at a lower rate which provides life cover within your budget.
• SBI Life Insurance renewal process helps to continue your life coverage by continuing your SBI Life Insurance plans.
• With the help of SBI Life Insurance policy, insurance coverage is not only for single individuals but also for groups.
• Whether you want to buy or claim for SBI Life Insurance plans, you need to submit the required set of documents.
• SBI Life Insurance plans also offer the facility to add a family member, rider claims, living benefits.
• Going for SBI Life Insurance pension plans, you get to enjoy life coverage along with that build retirement corpus for your post-retirement years.