Find your suitable insurance plan
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Over the years, SBI Life insurance has been serving millions of people in India with its diverse insurance products on investments, savings, protection, health, pension and so on. With a claim settlement ratio of 93.09%, SBI Life is one of the most trusted insurers in the country.
The insurer allows a comprehensive range of plans which include ULIPs, term insurances, retirement policies, child plans and money back policies among others which the investor can choose as per their budget and requirement
The plans offered by SBI life insurance are available online and can be purchased by the investor quickly and in a hassle-free manner. Each policy offered by the insurer is unique and is available with wide options so that the insured can buy as per their requirement and budget
With a CSR of 93.09% (FY 2020-21), SBI Life is one of the trustworthy insurers in the country. With a high CSR, SBI Life is categorized among the reliable insurers in the country
SBI Life has been bestowed with the award of ‘Life Insurance Company of the Year 2019’ by FICCI. The company is also the recipient of awards in other categories like ‘Customer Orientation in Life Insurance’ 2021 by Outlook Money and ‘Golden Peacock National Training Award’ 2021 by Golden Peacock Awards etc.
The insurer is known to offer comprehensive life coverage at low premium rates. Some of the available plans are in the easily affordable category
SBI Life insurance company has a wide array of SBI policies to offer for SBI Life customers to choose from. These policies not just allow financial security but also allow protection against the life of the insured. Policyholders can choose from among the varied plans offered by the insurer as per their needs and requirements. In fact, the cost-effectiveness and suitability of the plans is such that it can be afforded by one and all.
The online plans offered by SBI Life are hassle-free and can be bought easily and directly from the official portal of the insurer. These are budget-friendly plans that allow greater coverage at minimal price. Here are some sbi life insurance policy details of online plans.
| Plan name |
Age of entry |
Tenure of policy |
Min. sum insured |
| SBI Life eShield Next |
Minimum age – 18 years Maximum age – 65 years |
5 years – whole life |
INR 50,00,000 |
| SBI Life eWealth Insurance |
Minimum age – 5 years Maximum age – 50 years |
10 – 30 years |
10 times of annual premium |
| SBI Life – Smart Platina Plus |
Minimum age – 30 days Maximum age – 60 years |
23 – 39 years |
INR 5, 50,000 |
| SBI Life – Smart Annuity Plus |
Minimum age – 0 years Maximum age – 95 years |
N/A |
INR 1000 annuity payout |
| SBI Life – Saral Jeevan Bima |
Minimum age – 18 years Maximum age – 65 years |
5/10/15 up to 40 years |
INR 5, 00,000 |
| SBI Life – Sampoorna Cancer Suraksha |
Minimum age – 6 years for children, 18 years for adults Maximum age – 17 years for children, 65 years for adults |
5 – 30 years |
INR 10,00,000 |
| SBI – Life Smart Wealth Builder |
Minimum age – 2 years Maximum age – 55 years |
12 – 30 years |
10 times the annual pay |
| SBI Life – Smart Wealth Plus |
Minimum age – 0 years Maximum age – 55 years |
10/15/20 and 25 years |
10 times the annual pay |
| SBI Life – Smart Champ Insurance |
Minimum age – 21 years Maximum age – 50 years |
8 – 21 years |
INR 1,00,000 |
| SBI Life – New Smart Samriddhi |
Minimum age – 3 years Maximum age – 50 years |
12 – 15 years |
INR 63, 500 |
The saving plans offered by SBI Life Insurance company help in achieving the financial goals of the investor. These plans can be used to buy your dream house, to plan a bright career for your child or to meet any other kind of financial goal etc.
| Plan name | Age of entry | Tenure of policy | Min. sum insured |
| SBI Life Future Choices |
Minimum age – 18 years Maximum age – 50 years |
12/15/20/25/30 years | INR 6, 55,000 |
| SBI Life – Shubh Nivesh |
Minimum age – 18 years Maximum age – 60 years |
5/10/15/30 years | INR 75,000 |
| SBI Life – Smart Platina Assure |
Minimum age – 3 years Maximum age – 60 years |
12 and 15 years | INR 2, 40,000 |
| SBI Life – Smart Bachat |
Minimum age – 6 years Maximum age – 50 years |
12/15/20 and 25 years | INR 1,00,000 |
| SBI Life – Smart Humsafar |
Minimum age – 18 years Maximum age – 46 years |
10 – 30 years | INR 1, 00,000 |
| SBI Life – Smart Sawdhan Plus |
Minimum age – 18 years Maximum age – 65 years |
10 – 30 years | INR 5,00,000 |
| SBI Life – Saral Sawdhan+ |
Minimum age – 18 years Maximum age – 55 years |
10 – 15 years | INR 30, 000 |
The term insurance plans presented by SBI insurance policies are designed to secure the future of your family financially. Here, if due to an unfortunate event, the demise of the insured takes place, the policy covers the family well to help them survive comfortably.
| Plan name | Age of entry | Tenure of policy | Min. sum insured |
| SBI Life Arogya Shield |
Minimum age – 91 days Maximum age – 18 years |
1/2/3/5/ up to 40 years | INR 1,00,000 |
| SBI Life Smart Shield |
Minimum age – 18 years Maximum age – 60 years |
5 to 80 years | INR 25,00,000 |
| SBI Life – Grameen Bima |
Minimum age – 18 years Maximum age – 50 years |
5 years | INR 10,000 |
ULIPs are plans known to offer life coverage along with helping the insured to carry on a disciplined savings. These plans allow wealth accumulation while allowing the flexibility of monthly withdrawal facility in a systematic manner.
| Plan name | Age of entry | Tenure of policy | Min. sum insured |
| SBI Life – Smart InsureWealth Plus |
Minimum age – 0 days Maximum age – 55 years |
10/15/20/25 years | 10 times of annual premium |
| SBI Life – Saral InsureWealth Plus |
Minimum age – 0 years Maximum age – 55 years |
10/15/20/25 years | 10 times of annual premium |
| SBI Life – Smart Wealth Assure |
Minimum age – 8 years Maximum age – 60 years |
10- 30 years | 1.25 times of single premium |
| SBI Life – Smart Power Insurance |
Minimum age – 18 years Maximum age – 45 years |
10- 30 years | 10 times of annual premium |
| SBI Life – Smart Elite |
Minimum age – 18 years Maximum age – 60 years |
10/12/15 to 30 years | 7 times of single premium |
| SBI Life – Smart Privilege |
Minimum age – 8 years Maximum age – 55 years |
5/10 to 30 years | 7 times of single premium |
If you are looking for a stable and stress-free life after your retirement, you must invest in the SBI Life retirement plans. These plans allow guaranteed annuity benefits and the security of a comfortable life after retirement.
| Plan name | Age of entry | Tenure of policy | Min. sum insured |
| SBI Life – Saral Retirement Saver |
Minimum age – 18 days Maximum age – 65 years |
5/10 – 40 years | INR 1,00,000 |
| SBI Life – Saral Pension |
Minimum age – 40 years Maximum age – 80 years |
N/A | INR 1,000 annuity |
| SBI Life – Smart Annuity Plus |
Minimum age – 0 years Maximum age – 95 years |
1- 10 years | INR 1,000 annuity |
| SBI Life – Retire Smart Plus |
Minimum age – 20 years Maximum age – 60 years |
5/15/20 – 35 years | N/A |
| SBI Life – Retire Smart |
Minimum age – 30 years Maximum age – 70 years |
10 – 35 years | N/A |
Buy a SBI Life Child Plan to secure your Child’s future and to fulfil their dreams and aspirations by letting them choose the career they want.
| Plan name | Age of entry (Child) | Tenure of policy | Min. sum insured |
| SBI Life – Smart Champ Insurance |
Minimum age – 0 years Maximum age – 13 years Minimum age – 21 years Maximum age – 50 years |
8 – 21 years | INR 1,00,000 |
| SBI Life – Saral Scholar |
Minimum age – 40 years Maximum age – 80 years |
8 – 25 years | 1.25 times of single premium |
To allow the best security to your family and to enjoy the benefits of regular income, it is advisable to invest in SBI Life investment plans.
| Plan name | Age of entry (Child) | Tenure of policy | Min. sum insured |
| SBI Life – Smart Money Back Gold |
Minimum age – 14 years Maximum age – 55 years |
15/20/25 years | INR 2,00,000 |
| SBI Life – Smart Money Planner |
Minimum age – 18 years Maximum age – 60 years |
15/20/25 years | INR 1, 00,000 |
| SBI Life – Smart Income Protect |
Minimum age – 11 years Maximum age – 58 years |
7/12/15 years | INR 1, 00,000 |
You can buy the SBI Life Insurance policies online from the official website of the insurer. Also, you can buy them from insurance brokers and other third-party agents etc.
Here are the steps to buy insurance from the official website of SBI life insurance co ltd:
It is very easy and hassle-free to file a claim of SBI Life insurance. It can be done in both online and offline ways. Here are the steps to follow:
You will have to submit the required documents while raising the claim as mentioned below:
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You would need:
1. Policy bond original
2. ID and address proof
3. Proof of bank account for direct credit mandate (cancelled cheque original)
Yes, you can easily do that by following the simple procedure. Log on to MyPolicy account and choose transactions online. Now change the address and fill the required fields. Now submit the address proof in the prescribed format of PDF/JPEG.
No, this facility is not there.
Yes, it is possible to revive your plan by paying the outstanding premium along with the interest. You also have to submit proof of your good health to the SBI Life insurance.
Yes, you can easily change the nomination by submitting the required form to the insurer.
Yes, that is possible. But you would need an adult person as the guardian of the minor nominee.
Yes, smokers might have less chances of their proposal getting accepted. This is because the lifestyle of a person is a factor considered for term insurance proposal acceptance and
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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