SBI Life Insurance Premium Payment

SBI Life Insurance Premium Payment

  • Multipal Premium Payment Option
  • Hassle-Free Premium Payment
  • Multiple Offline Premium Payment Modes

SBI Life Insurance is one of India's leading life insurance providers, offering various insurance products to cater to various financial needs. As a policyholder, paying premiums on time ensures your life insurance coverage continuity. SBI Life Insurance understands the importance of convenient payment options and has implemented several user-friendly methods to facilitate premium payment. This article will explore the various premium payment options SBI Life Insurance provides, highlighting their features, benefits, and steps to make premium payments efficiently.

SBI Life Insurance Online Premium Payment Option

SBI Life Insurance offers a seamless online premium payment facility, allowing policyholders to pay their premiums conveniently from the comfort of their homes. Here are the key features and benefits of online premium payment:


SBI Life Insurance Website

Policyholders can visit the official SBI Life Insurance website and log in to their accounts to pay the premium online. The website offers a user-friendly interface that guides users through the payment process step-by-step. Policyholders can choose from various online payment modes, including debit card, credit card, net banking and UPI.


Mobile App

SBI Life Insurance has a dedicated mobile app that enables policyholders to manage their policies on the go. The app offers a secure and intuitive platform for premium payment, with multiple payment options available. Policyholders can download the app from the respective app stores, log in using their credentials, and make premium payments hassle-free.


Auto-Debit Facility

SBI Life Insurance also provides the convenience of setting up auto-debit instructions. Policyholders can authorize SBI Life Insurance to deduct premiums directly from their registered bank accounts on the due date. This option ensures that premiums are paid on time without the need for manual intervention.


One-Time Online Payment

For policyholders who prefer to make one-time payments without logging into their accounts, SBI Life Insurance offers a quick pay option on its website. By entering the policy number and other necessary details, policyholders can make instant premium payments without requiring extensive login procedures.

SBI Life Insurance Premium Payment Through E-Wallet

Policyholders can pay their SBI Life Insurance premium through offers various e-wallets. They can use mobile wallets or visit the SBI Buddy website to pay the premium. Below, we have mentioned some commonly used e-wallets that people use to pay due premium amounts of SBI Life Plans.

Steps to Pay SBI Life Premium via SBI Buddy

  • Visit the “SBI Buddy” website.
  • Go to the Bill Payment and Recharge option.
  • Click on the “Bill Pay” option and select “Insurance”.
  • Then, select “SBI Life Insurance” as your biller.
  • Enter your policy number and date of birth.
  • Make payment and complete the transaction.

Steps to Pay SBI Life Plan Premium via the Paytm App

  • Open the Paytm App and go to the “Insurance” option.
  • Click on the “Pay Existing Life Insurance Premium” option.
  • Then, select the “SBI Life Insurance”.
  • Enter the details of your SBI Life Policy Number and your Date of Birth.
  • Pay your premium and complete the transaction.

Steps to Pay SBI Life Premium via the Jio Money App

  • Open the “Jio Money” app.
  • Select the “Bill Pay” option in the “Recharge and Bill Pay” category.
  • Tap on the “Insurance” and select the “SBI Life Insurance”.
  • Enter your policy number and date of birth.
  • Pay your premium and complete the transaction.

SBI Life Insurance Offline Premium Payment

SBI Life Insurance understands that not all policyholders may have access to online payment facilities or may prefer traditional methods of premium payment. Hence, the company also provides offline premium payment options. Let's explore them:


Payment at Branches

Policyholders can visit any nearby SBI Life Insurance branch to pay their premiums. They just have to go to the customer service desk, provide their policy details, and pay through cash, cheque, or demand draft.


By Courier or Post

Policyholders can also pay their SBI Life Insurance premium payment simply through a demand draft or cheque at their nearest branch office. Once the payment is received, SBI Life Insurance will send a payment receipt to your registered address to acknowledge your payment.


ECS (Electronic Clearing Service)

Policyholders can opt for the ECS facility to authorize SBI Life Insurance to debit premiums directly from their bank accounts. Policyholders can ensure that premiums are automatically deducted from their accounts on the due date by submitting the necessary ECS mandate form and a cancelled cheque.


Premium Payment Through SBI Bank ATM

You can also use SBI bank ATMs to pay your due premiums. Below, we have mentioned the process of paying your premium through SBI bank ATMs:

  1. Locate a nearby SBI Bank ATM.
  2. Policyholders can visit any SBI ATM and insert their debit card.
  3. Select the "Other Services" or "Insurance" option from the main menu.
  4. Select SBI Life Insurance from the available options.
  5. Select the “Services” option, then go to “Bill Pay”, and select 'SBI Life Insurance' from the options.
  6. Enter the required policy details, such as the policy number and premium amount.
  7. Verify the details and proceed to make the payment using the available payment options, such as savings or current accounts.

POSP Advisor of RenewBuy

Policyholders can also connect with RenewBuy’s POSP Advisor to pay their SBI Life Insurance premium.


SBI Life Insurance offers various premium payment options to meet its policyholders' diverse needs and preferences. SBI Life Insurance ensures that policyholders have convenient and hassle-free ways to pay their premiums. These various payment options enable policyholders to stay updated with their premium payments, ensuring their life insurance coverage continuity. SBI Life Insurance aims to provide a seamless and customer-centric experience for premium payments by offering a range of payment methods and continuously enhancing its digital platform. Policyholders can avail of these options to ensure timely and hassle-free premium payments, protect their financial well-being and ensure life insurance protection.