SBI Life Insurance Policies in 2025
SBI Life Insurance offers trusted, customizable plans for savings, protection, and retirement in 2025. Enjoy financial security, tax benefits, and seamless claim support from one of India’s leading insurers.
SBI Life Insurance offers multiple insurance products to cater to diverse customer needs and offers a host of benefits with insurance coverage. SBI Life Insurance, with a claim settlement ratio of 94.52%, is one of the most reputed life insurance companies in India and is known to offer different types of products which are easily customisable depending on your various financial needs.
Number of Branches | 996 |
Customer Assistance | Always available |
Claims Paid | More than Rs.1,77,765 crore |
Why Should You Buy SBI Life Insurance Plan?
Here are some reasons why it's a good idea to choose the best SBI Life Insurance Plan:
- Offers death benefit to offer financial security to family in case of sudden demise of policyholder.
- Takes care of outstanding loans or debts with the help of payout received from SBI life insurance plans, such as term plans.
- Secures child’s future with the payout received from SBI Life Insurance plans to support financial needs of children, such as higher education, wedding, etc.
- ensures financial stability even after the end of your income-earning years through SBI Life Insurance retirement plans.
- Offers protection and a savings facility with maturity benefits.
- under Sections 80C and 10(10D) of the Income Tax Act, SBI Life Insurance policies offer tax benefits.
Different Types of Life Insurance Policies Offered by SBI Life:
SBI Life has a comprehensive portfolio of insurance products to meet the individual needs of a rather large customer base. Following are the plans offered by the insurance company:
- Savings Plans
- Protection Plans
- Child Plans
- Money Back Plans
- Retirement Plans
- Wealth Creation Plans
SBI Life Insurance Savings Plans
The various plans offered under the SBI Life insurance savings plan are mentioned below:
Plans | Entry Age | Annual Premium | Benefits |
SBI Life – Saral Swadhan Supreme | 18 years | Starting from Rs.7,500 |
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18 years | Rs.6000 onwards |
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6 years | Rs.5,100 onwards |
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18 years | Rs.6000 onwards |
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SBI Life – Smart Future Choices | 18 years | Rs.1 lakh |
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SBI Life – New Smart Samriddhi | 30 days | Starting from Rs.12,000 |
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SBI Life: Smart Platina Assure | 30 days | Rs.50,000 onwards |
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SBI Life – Smart Platina Plus | 30 days | Rs.50,000 onwards |
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SBI Life – Smart Lifetime Saver | 30 days | Rs.3000 onwards |
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SBI Life Insurance Protection Plans
A few plans that are offered under the SBI Life Insurance Protection Plan are mentioned below:
Plans | Entry Age | Annual Premium | Benefits |
18 years | Rs.3,600 onwards |
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SBI Life – eShield Insta | 18 years | Rs.2,259 |
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18 years | Starting from Rs.1,415 |
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SBI Life – Sampoorn Cancer Suraksha | 6 years | Rs.600 |
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Arogya Shield | 18 years | Starting from Rs.1,415 |
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SBI Life - Smart Shield Premier | 18 years | Rs.9,500 onwards |
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18 years | Rs.3000 onwards |
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SBI Life – Grameen Bima | 18 years | Rs.300 onwards |
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SBI Life – Saral Swadhan+ | 18 years | Rs.1,500 onwards |
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SBI Life – Smart Swadhan Plus | 18 years | Rs.2,300 onwards |
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SBI Life – Smart Swadhan Supreme | 18 years | Rs.5,750 onwards |
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SBI Life – Saral Swadhan Supreme | 18 years | Rs.7,750 onwards |
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SBI Life Insurance Retirement Plans
The SBI life insurance retirement plans are given in the table below:
Plans | Entry Age | Annual Premium | Benefits |
SBI Life – Retire Smart Plus | 20 years | Rs.30,000 onwards |
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SBI Life – Retire Smart | 30 years | Rs.24,000 onwards | Provides 'Advantage Plan' to protect against market volatility and also provides minimum assured maturity amount. |
SBI Life - Smart Annuity Plus | Minimum: 0 to 55 yearsMaximum: 75 to 95 years | No limit | Offers higher annuity payouts benefit for large premium and flexibility on choosing from wide range of Annuity Options. |
SBI Life – Saral Pension | 40 to 80 years | No limit | Provides regular income for lifetime along with return of purchase price and surrender option on diagnosed with critical illness. |
SBI Life Insurance Money-Back Income Plans
The SBI life insurance money back income plans are given in the table below:
Plans | Entry Age | Annual Premium | Benefits |
SBI Life – Smart Money Back Gold | 14 years | Rs.9,500 onwards | Provides total survival benefit of 101% of sum assured along with three money-back plan options. |
SBI Life – Smart Money Planner | 18 years | Based on sum assured | Ensures regular income during payment period and life coverage throughout policy term. |
SBI Life – Smart Income Protect | 8 years | Based on sum assured | Provides regular income and simple reversionary bonuses. |
SBI Life Insurance Child Plans
The SBI life insurance child plans are given in the table below:
Plans | Entry Age | Annual Premium | Benefits |
SBI Life - Smart Scholar Plus | Child: 0 years Proposer: 18 years | Rs.50,000 onwards |
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SBI Life – Smart Champ Insurance | Child: 0 yearsProposer: 21 years | Rs.6000 onwards |
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SBI Life Insurance Wealth Creation Plans
The SBI life insurance wealth creation plans are given in the table below
Plans | Entry Age | Annual Premium | Benefits |
SBI Life - eWealth Insurance | 5 years | Rs.24,000 | Provides two plan options and easy buying process through online mode. |
SBI Life - Smart InsureWealth Plus | 0 years | Rs.40,000 | Provides easy monthly insurance benefit along with choice of three investment strategies. |
SBI Life - Smart Fortune Builder | 2 years | Starting from Rs.40,000 | Offers enhanced investment options along with guaranteed additions. |
SBI Life - Saral InsureWealth Plus | 0 years | Rs.8000 | Offers eight diverse fund options along with easy month insurance benefit. |
SBI Life – Smart Wealth Assure | 8 years | Rs.50,000 | Offers market-linked return and single premium option |
SBI Life – Smart Power Insurance | 18 years | Rs.15,000 | Offers two fund and plan options |
SBI Life – Smart Elite Plus | 18 years | Rs.2.50 lakh onwards | Offers two plan options and provides wide range of funds |
SBI Life – Smart Privilege Plus | 8 years | Rs.6 lakh onwards | Designed especially for UHNIs (Ultra High Net-worth Individuals), offering regular loyalty additions |
How to Submit a Claim for SBI Life Insurance Policy
Below is the process on how to submit a claim on SBI Life Insurance -
- Claim Intimation – The policyholder will inform the insurer about the claim by filling in an online form on SBI’s official website. Policyholders can also submit the intimation in person by visiting their nearest branch of SBI.
- Document Submission – The relevant documents should be submitted by the policyholder at the nearby SBI office or on the online portal of SBI.
- Claim Decision and Settlement – The insurer then assesses the documents submitted by the policyholder for claim settlement.
Offline Claim Settlement Procedure
Policyholders can visit the nearby SBI life insurance office to intimate their claim by submitting a duly filled form along with all the necessary documents.
Online Claim Settlement Procedure
Follow the steps mentioned below to fill your claim settlement online -
- Open the official website of SBI Insurance company.
- Select ‘Services - Existing Customers’
- Next, choose ‘Maturity and Claims’
- Submit all the required details and fill in the captcha, then click submit.
Documents Required for Purchase of SBI Life Insurance
The documents that are required to purchase SBI Life Insurance are mentioned below :
- ID Proof – PAN card, driving license, Aadhaar card, voter ID, etc.
- Residential proof
How to Check SBI Life Policy Status?
It is not too difficult to check the status of your insurance with SBI Life Insurance. Simply go to SBI life Login/Registration1.aspx, enter your policy number, Customer ID, and date of birth as they appear on your policy document, and click "Register." Information about the insurance and the policyholder will appear on the screen as soon as you have provided the necessary details.
You must verify or edit your phone number and email address here. Before clicking "Submit," you must also input your login information. Then, you will receive an email with a link that enables you to change your password. You must first enter the password you used to register before selecting a new one.
SBI Life Insurance Online Payment
If you want to pick the option of paying your life insurance policy's premiums online, go to an online payment website, input the necessary information, such as the policy number, your date of birth, your mobile number, and your email address, and then continue to make the payment.
SBI Life Insurance Premium Calculator
Visit the website and select the product you want from the drop-down menu to calculate the premium payment for your particular insurance. When you click on your life insurance plan, a new page will open asking you to enter details such your name, date of birth, policy term, premium payment frequency, plan type (regular, single, or limited premium), and so on. You'll be able to see how your premium is determined once you've done that.
SBI Life Insurance Customer Care
Customer service is a crucial aspect in offering insurance. An efficient customer service team can, in the eyes of policyholders, contribute to improving the reputation of an insurer. This philosophy is upheld by SBI Life, a well-known insurer in India, which has a committed customer care team in place all the time. A customer care helpline for SBI Life is available by phone, email, or SMS. A callback request or online chat are other ways for customers to get in touch with customer support. The insurer has also created a specialised team to take complaints and consumer comments and handle them in a hassle-free manner in order to improve the client experience.
The details of SBI Life Insurance customer care are given below:
- Phone Number: 18002679090
- Email id: info@sbilife.co.in
Grievance Redressal Procedure for SBI Life Insurance Plans
There are 3 levels of grievance redressal:
- Level 1: You can call SBI Life and inform them of your issue. If you don't receive a satisfactory solution.
- Level 2: In case your grievance is not satisfactorily resolved in level 1, you can contact the Head Grievance Redressal Officer - Client Relationship.
- Level 3: In case the Head Grievance Redressal Officer is unable to satisfactorily resolve your grievance, you may directly approach the Insurance Ombudsman.
FAQs about SBI Life Insurance Policy
- What are the other ways to make payments online?
Premium payments can be made online through Visa, Master, and Diners & American Express cards. Net banking customers can also pay online, if the bank is listed on the site.
- Is it possible to pay premiums online?
Yes. Log in to the Mypolicy portal, and pick the "Pay Premium Online" option under the Transaction menu. Pick the policy you're enrolled under and make the payment.
- What is the procedure to change the address as mentioned in the policy?
To initiate the process of changing the address, a written request needs to be sent to the Central Processing Centre, or any SBI Life branch. The request can also be faxed to the insurer.
- Can advance payments be made for premiums?
This depends on the frequency of premium payments.- Under the monthly payment frequency mode, advance payments can be made up to 10 days in advance and non-monthly payment frequency mode, advance payments can be made up to 30 days in advance.
- What is the procedure to change the percentage of allocation or to switch between funds?
To initiate the process of changing the percentage of allocation or to switch between funds, one must furnish and submit the policy servicing form to any SBI Life branch.
- What is the process to change the nominee named to receive benefits in my SBI Life insurance policy?
Nominees can be changed at any time by submitting the Change of Nomination form to SBI Life Central Processing Centre, or the closest SBI Life branch office.
- What kind of benefits will my dependents / nominees receive on my death?
There are different cases to consider, depending on when the unfortunate event of your death occurs.- In case death occurs during the policy term, the nominee/s will be paid Sum Assured, plus bonuses, if any. If the policy incorporates bonuses or participative profits, bonuses will be payable for the number of years premiums were paid. In case death occurs due to accident, the nominee/s will be paid double the Sum Assured, if the accidental benefit rider was purchased.If death occurs after the maturity date of the policy, the nominee/s will not be entitled to any kind of death benefit.
- Will the insurance company pay me anything in case I decide to discontinue my life insurance policy even if I haven't been making premium payments recently?
SBI Life Insurance Company Limited, like most other insurance providers, grants a grace period to customers, usually spanning 30 days from the due date, and customers are expected to clear their outstanding premium payments within this period. In case you purchased your life insurance policy less than three years ago and have failed to make premium payments, the insurance company will not offer you anything. In case you have made premium payments for over three years in succession and then defaulted on the same, a proportion of the premium payments you have made over the years will be paid to you, and this amount you receive will depend on the sum assured and bonuses, if any are accrued within that period, along with the policy term and the number of premium payments you have made.
- How do I claim the maturity amount once my life insurance policy has expired?
Insurance companies usually send details regarding the maturity of a life insurance plan well in advance, in addition to the forms you will be required to fill in as well as the documents you will have to send to the insurer. Once you have adhered to the requirements of the insurance company, you will receive your payment by post or the company could credit the amount directly to your bank account based on your preference.
- Will I receive any benefits in case I survive the policy term?
Individuals who have purchased a life insurance policy from SBI Life Insurance Company Limited may not receive any additional benefits upon maturity, but in most cases, customers can expect to receive the premium payments they have made over the course of the policy term or the sum assured of the policy upon maturity. In case of policies that provide profits or bonuses to customers who survive the policy term, the sum assured will be paid to the individual in addition to the accumulated bonus for the policy term. For instance, in case your policy term is 25 years, the payout upon maturity would be the sum assured as well as the bonuses accumulated over the policy term.
- Is it possible to revive my life insurance policy even if I have defaulted on my premium payments?
In case of regular premium payment policies, you will have to clear your defaults within the grace period. If you have not made premium payments within the grace period, your policy will lapse. Once your policy lapses, you can revive it by making all arrears of premium payments along with the interest rate for that particular period of time.
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