SBI Life Insurance, established in October 2000 and registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001, is one of India's most reputable life insurance providers. With its widespread presence throughout the nation and its 970 offices, 18,401 employees, extensive and effective individual agent network of about 161,923 agents, 56 corporate agents, 14 bancassurance partners with more than 40,000 partner branches, 119 brokers, and other insurance marketing companies, SBI Life aims to make insurance affordable for everyone.

SBI life Insurance has won many awards & accolades from various awarding bodies. Let us glance at some of the significant successes in recent history.

  • The WCRC's Brand of the Year 2016–17 Award for Insurance was won by SBI Life Insurance.
  • The Risk & Insurance Management Society (RIMS), USA, presented the 2018 Enterprise RISK Management (ERM) Award of Distinction to SBI Life Insurance Company.
  • The Golden Peacock Award for Risk Management was given to SBI Life Insurance Company Limited in 2018.
  • At the 2019 ICC Emerging Asia Insurance Conclave & Awards, SBI Life was named "Best Life Insurance Company."
  • At the ET Insurance Summit, held in Mumbai on Friday, November 29, 2019, SBI Life Insurance was named the "SMART Award-Life Insurance in Large Category."

Important Features & Benefits of SBI Life Insurance

One of the best choices you can make is to purchase life insurance policies, especially for your family. Insurance is essential because it will shield your loved ones from harm in the event of an accident or untimely death, allowing you to take care of them. Let us glance at the SBI Life Insurance:

01

Annual Premium

The company meets the needs of people from all walks of life thanks to its extensive selection of life insurance products. SBI Life Insurance reported an annual premium of INR 50,254.17 Crores in the IRDAI report 2020-21.

02

Solvency Ratio

According to experts in insurance, a person can determine a company's ability to fulfil its long-term financial obligations by looking at its solvency ratio. SBI Life Insurance Company's solvency ratio for 2020–21 is 2.33.

03

Claim Settlement Ratio

CSR helps you to understand whether the insurance company will to pay the settlement amount when needed. A company with a good CSR is regarded as the best.

04

Cost-effective Plans

A person looking for insurance coverage is constantly looking for a good plan that meets their most important needs and, most importantly, fits within their budget. SBI Life provides complete life insurance on payment for a reasonable premium rate. Some plans offer a number of options at a very reasonable price.

05

Excellent Customer Service

One of the top insurers, SBI Life Insurance, offers plans with reasonable premium costs. The insurer values its customers and provides excellent support. Their customer service team is accessible around-the-clock on their official website and toll-free number. They make it easier for a client to communicate with the insurer and get their questions answered.

Life Insurance Plans Offered by SBI Life Insurance

SBI Life Insurance provides various life insurance plans online. So let's take a look at the classification.

Protection Plans

Child Plans

 

Investment Plans

Savings Plan

Retirement Plans

Money Back/ Income Plans

What is the SBI Life Insurance Buying Process?

The buying process for Life Insurance Insurance is simple and hassle-free. Let us first look at how to purchase SBI Life Insurance online.

Buy from "RenewBuy.com"

  • Visit the official site of "RenewBuy".
  • Select the "Life Insurance Plan" tab.
  • Choose the Best Life insurance policy.
  • Fill in all the required details.
  • Click on "Buy Now".
  • Proceed with the payment.

Buy From the Official Website of SBI Life Insurance

  • Go to the company's official website.
  • Click on the tab “Life Insurance”
  • The new page will open, and you must select the best SBI life insurance for yourself
  • Fill in the required details.
  • Click on “Buy now”
  • Make the payment, and your life insurance policy will be sent to the registered email address.

Claim Settlement Process Online

The company offers a claim-to-submit option for your convenience. The steps for filing a claim online are listed below. Look at this:

  • Visit SBI Life Insurance's official website.
  • Click the "Services for existing clients" tab.
  • Select "Claims & Maturity" from the menu.
  • You must provide the claim type, insurance number, and date of birth in the claim notification.

After receiving the claim form and any required paperwork, the company will check the information. Post that, you will receive the acceptance or rejection letter by email or text message.

Documents Required for the Claim

In Life insurance policies, the following documents are needed to submit a claim:

  • Claim Form
  • Original Policy Document
  • Death Certificate issued by Local Authority, Original or Attested
  • Proof of the insured’s current residence
  • evidence of insured’s photo ID
  • Form of Direct Credit Mandate (download sign)

SBI Life Insurance Contact Details

If you would like to connect with the company, here are important company information.

Address : M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069

Email : info@sbilife.co.in

Contact : 1800 267 9090

Corporate Office : 022-6191 0000