Insurance Inbox

SBI Life Insurance

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.


Plans offered by SBI Life Insurance

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


          • With this plan, you get an easy and quick online enrollment option.
          • You get to avail an add-on accidental benefit under this plan.
          • There is an accidental death benefit up to an amount of ₹ 50 lakh or the basic sum insured, whichever is lower.
          • You will be entitled to rewards on maintaining a healthy lifestyle
          • Depending on the level of coverage you want, you can choose many plans.
              Note:To know more about this plan, contact insuranceinbox.

            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.


                  • This plan promises you guaranteed additions of upto 210% of annual premium in order to provide greater fund value.
                  • There will be terminal additions of 1.5% of fund value, on the maturity of your plan, vesting, or death.
                  • You get an assured addition benefit of 10% of annual premium, which will be annually paid in case of successful continuation of policy for more than 15 years till the time of maturity
                  • With this plan comes the flexibility to choose premium payment terms
                  • Apart from the above, you also receive the option to postpone vesting age, as per your requirement
                      Note:To know more about this plan, contact insuranceinbox.

                    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.


                          • The plan promises an assured minimum bonus of 2.5% of basic sum assured for the first three years
                          • With this plan, you get a complete financial shield in the case of death of either or both the insured
                          • You can avail add on benefits at very reasonable prices
                          • This plan is a profit endowment assurance plan and comes with assured returns to help create a regular income
                          • This plan has the features of savings plans with growth periods to help you meet all your financial requirements
                          • You get a life cover available throughout the policy term, which includes premium payment period, growth period, and benefit payment period
                          • Under this policy, you receive the option to enroll as either single or limited premium payment plans
                          • In case of a large sum assured, the plan offers you rebates as well
                          • As per your future needs, you get to choose four different plan variants under this policy
                          • Smart Humsafar comes with multiple benefits, such as maturity benefit, survival benefits, and tax benefits
                              Note:To know more about this plan, contact insuranceinbox.


                          • Something for everybody: In operation for more than a decade, SBI life insurance has plans for everybody, suiting people from all economic strata
                          • A brand name: A renowned company in the nation, it has established itself as one of the largest life insurance companies and has around 750 branches in the nation.
                          • Productive force: The Company has tied up with 80,000 advisors and boasts of the most productive force of insurance agents
                          • Dedication: The Company is credited to have resolved around 99.97% of grievances in the financial year 2015-16

                          Claim process at SBI Life Insurance

                          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 –

                          Review of 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.