SBI Life Insurance is a joint venture between the largest banking group in India, SBI Bank Group, and the leading global insurance company from France, BNP Paribas Cardiff. Where SBI owns 70.1% of the aggregate capital of SBI Life, BNP Paribas has 26% of the rest under its name. The company was established in the year 2001 and is headquartered in Mumbai. The company has come a long way, from focusing majorly on bancassurance to being a key player among the life insurance companies in the country. The company has brought out numerous products and services, to suit a diverse customer base, which has become even more accessible with the availability of SBI life insurance online. People can now compare SBI life insurance plans and purchase the most suitable plan, besides paying premiums and filing claims online.
With nothing in life being guaranteed, it becomes necessary to secure oneself and one’s family, by attaining financial stability. Purchasing a life insurance is a smart way of meeting the challenges that life throws at you in the modern world. SBI Life Insurance strives towards making financial stability more achievable for all. The company has a comprehensive portfolio of insurance plans designed to meet the requirement of a rather large customer base. Mentioned below are some of the most preferred life insurance plans by SBI Life Insurance Co. Ltd. –
Plan Name : SBI Life – e-shield
About the plan
The e-shield life insurance by SBI is an aptly designed plan for those wanting to secure their family at an affordable premium. It is a non-linked and non-participating term plan for individuals in the age group of 18-70 yea₹ The plan has a minimum term of 5 years and a maximum term of 30 years
Plan Name : SBI Life – Retire Smart
About the plan
Life is tricky as it is, and things can take a rough turn with increasing age, and this is why securing one’s old age is of immense importance. The Retire Smart SBI Life Insurance enables you to secure your future and accumulate a retirement collective, while you are still young and earning.
Plan Name : SBI Life – Smart Humsafar
About the plan
The Smart Humsafar SBI Life Insurance policy comes with a unique opportunity for married couples to achieve both savings and insurance. Offering multiple benefits for both the spouses, it is a joint life non-linked participating endowment plan. This plan has a basic sum assured of ₹1,00,000 (which can go up to ₹5,00,00,000) while the minimum term of the policy is ten years.
SBI Life Insurance is recognized for its commitment towards protecting the interests of the policyholders by maintaining timeliness in its claim processing. You must follow the following steps in order to file a claim with SBI Life Insurance –
SBI Life Insurance has shown tremendous development since the time of its initiation and has established itself as one of the largest brands in the life insurance arena. With a claim settlement ratio of 93.39% in the financial year 2015-16, the company proves that it has a long way to go in the future.