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SBI Life Insurance
Apnepan Ka Ehsaas
About SBI Life Insurance
SBI Life Insurance is a top life insurance company in India, founded in 2001 as a joint venture between State Bank of India and BNP Paribas Cardif. It offers a wide range of life insurance products — from protection and savings plans to ULIPs, retirement solutions, and child plans — to help secure financial goals and manage life’s uncertainties.
SBI Life is known for a strong distribution network, online services including policy purchase and servicing, and a growing market presence.
SBI Life Insurance Plans
The following are some of the most popular SBI Life insurance plans in India in 2026:
Sl no. | Plan Name | Minimum Entry Age | Policy Term | Minimum Sum Assured | Maximum Sum Assured |
|---|---|---|---|---|---|
1 | SBI Life – Smart Shield Plus (Term) | 18 yrs | 5–40 yrs (approx) | ₹25 lakh | No limit (depends on eligibility) |
2 | SBI Life – eShield Insta (Term with ROP) | 18 yrs | Typically 10–80 yrs less age* | ₹25 lakh | No limit (subject to underwriting) |
3 | SBI Life – Arogya Shield (Term + health) | 18 yrs | 5–40 yrs (approx) | ₹20 lakh | ₹2.5 crore (illustrative) |
4 | SBI Life – Smart Bachat Plus (Savings) | 18 yrs | Varies by plan | ₹5 lakh (approx) | No limit |
5 | SBI Life – Smart Platina Assure (Savings) | 18 yrs | 10–30 yrs (approx) | ₹5 lakh | No limit |
6 | SBI Life – Smart Scholar Plus (Child ULIP) | Parent: 18 yrs | Child maturity to 18–25 yrs | Depends on chosen fund | No limit |
7 | SBI Life – Smart Future Star (Child Savings) | Parent: 18 yrs | 15–25 yrs (varies) | ₹40,000 (indicative) | No limit |
8 | SBI Life – Retire Smart Plus (Retirement) | 20 yrs | Up to 70 yrs (accumulation + defer) | Varies by option | No limit |
9 | SBI Life – Smart Privilege Plus (ULIP) | 18 yrs | 10–30 yrs (approx) | ₹2 lakh (approx) | No limit |
10 | SBI Life – Smart Money Back Plus (Money Back/Savings) | 18 yrs | Varies by term | ₹50,000 (indicative) | No limit |
Please note the following important points related to SBI Insurance Plans 2026:
- Policy terms are indicative and depend on entry age and plan structure.
- “No limit” sum assured is subject to underwriting and eligibility.
- Child plans depend on proposer (parent) eligibility.
Benefits of Choosing SBI Life Insurance
Listed below are the benefits of choosing SBI Life Insurance plans:
- Wide product portfolio across protection, savings, ULIPs, retirement and child plans.
- Trusted backing of State Bank of India.
- Easy online services for purchase and policy management.
- High claim settlement record.
- Flexible riders and customization options.
SBI Life Insurance Tax Benefits
SBI Life Insurance offers tax advantages under Indian tax laws:
- Section 80C: Premiums eligible for deduction up to ₹1,50,000 per year.
- Section 10(10D): Death and maturity benefits generally tax-free.
- Additional Deductions: Subject to applicable tax laws.
How to File SBI Life Insurance Claim
The following are the steps that you need to follow to file SBI Life Insurance Claim:
Step 1: Identify the Type of Claim
- Death Claim
- Maturity Claim
- Survival / Money-Back Claim
- Rider Claim
Step 2: Intimate SBI Life
Inform SBI Life via branch visit, agent, or official website at the earliest.
Step 3: Collect Required Documents
- Death Claim: Policy document, claim form, death certificate, nominee ID, bank details, medical/FIR reports if applicable.
- Maturity/Survival Claim: Policy document, discharge form, ID proof, bank details.
Step 4: Submit the Claim
Submit documents at the SBI Life branch and collect acknowledgement receipt.
Step 5: Claim Verification
SBI Life verifies policy details, premiums, and documents.
Step 6: Respond to Queries
Provide additional documents promptly if requested.
Step 7: Claim Settlement
Approved claims are credited within ~30 days after document submission.
Important Tips to Avoid Claim Rejection
- Ensure nominee details are updated
- Keep policy documents safe
- Disclose the correct medical history while buying the policy
- Ensure bank details are accurate
Eligibility Criteria
To buy an SBI life insurance policy, you must generally meet the following:
- Minimum age as per selected plan.
- Sound mind and legal capacity.
- Medical and underwriting requirements, if applicable.
Documents Required
To apply for SBI Life insurance:
- Identity Proof: Aadhaar, PAN, Passport, Voter ID
- Address Proof
- Age Proof
- Income / Bank Proof (if required)
- Medical Reports (if applicable)
More Details About SBI Life Insurance
If you are interested in learning more about SBI Life Insurance, then the following are the details about SBI Life Insurance:
| Fact | Detail |
|---|---|
| Company Name | SBI Life Insurance Company Limited |
| Tagline / Motto | Apnepan Ka Ehsaas |
| Founded | 2001 |
| Headquarters | Mumbai, India |
| Products | Term Insurance, Savings & Endowment Plans, ULIPs, Retirement & Pension Plans, Child Insurance Plans |
| Mission | To protect the financial future of Indian families by offering reliable, customer-centric life insurance solutions |
| Online Services | Buy policies online, pay premiums, check policy status, download receipts, update details |
| Website | www.sbilife.co.in |
Awards & Achievements
SBI Life Insurance has earned recognition for:
- High claim settlement ratios.
- Wide range of insurance products.
- Consistent financial growth.
SBI Life Insurance Contact Details
The following are the SBI Life Insurance contact details:
Official Website: www.sbilife.co.in
Customer Care: Available on the official site and through SBI Life offices
Policy Services: Online portal for tracking and servicing
Frequently Asked Questions (FAQs)
A.
SBI Life is a private insurer with strong digital features, while LIC is government-owned and known for long-term trust. The better choice depends on your needs and preferences.
A.
There is no fixed “₹1 lakh per year” policy. ₹1 lakh usually refers to the annual premium amount, based on the plan, age, and sum assured chosen.
A.
SBI Life offers multiple 15-year term or savings plans, but there is no single official “SBI 15 year scheme.” Benefits depend on the selected policy.
A.
SBI Life Insurance is 100% genuine. It is a registered life insurance company regulated by IRDAI and backed by State Bank of India.
A.
SBI Life Insurance is jointly owned by State Bank of India and BNP Paribas Cardif.
A.
Yes, SBI Life offers term plans like Smart Shield Plus and eShield, providing pure life cover at affordable premiums.
A.
You can check your SBI Life policy status online through the official SBI Life website or by visiting the nearest SBI Life branch.
A.
SBI Life usually settles valid claims within 30 days after receiving all required documents.
A.
Most SBI Life maturity and death benefits are tax-free under Section 10(10D), subject to Income Tax Act conditions.
A.
Yes, many SBI Life insurance plans can be purchased online directly from the official website without visiting a branch.
Best Life Insurance Companies in India
We, at InvestKraft, have strong ties with the best life insurance companies in India, as follows:
