What Is SBI Life Insurance Policy? Types

If you are also looking for the perfect health insurance or Life insurance policy for yourself or for your family, but in doubt about which insurance company will be best for you and have questions about the coverage amount and term length? what will the life insurance policy will cover and what policy will not cover? Do I need to take any medical tests? then you should try the SBI life insurance policy plan.

SBI Life Insurance policy is one of the most renowned insurance companies in India. If you belong to India then you might have heard the name of SBI, the full form of SBI is the State Bank of India and this is a government-authorized bank by the government of India.

SBI operates in almost every part and every corner of India. Apart from banking services, SBI also offers a number of insurance policies. If you also want to buy Life insurance or a Health Insurance package for yourself and your family then you can definitely take a look at SBI Life Insurance Online Policies.

What is the Need For Life Insurance Policy?

A life insurance policy is a type of policy that provides financial coverage to the policy holder’s family so that they may continue their daily expenses, their living, and achieving their long term goals without facing any financial difficulties even after the demise of the policy holder.

What Is SBI Life Insurance Policy? Types | How To Buy?

Why SBI Life Insurance Is The Best?

SBI Life Insurance policy is one of the major insurance policy providing companies in India. In fact, this is one of the oldest insurance companies in India. It was started just after Indian independence with a joint venture with a French multinational Bank which was headquartered in Paris. SBI Life Insurance has the largest customer base in India.

SBI Life Insurance Claim Settlement Ration (CSR)

Also, this company only operates in the Indian subcontinent but still, the customer base is the highest in the market.  This is because SBI Life Insurance has the highest claim settlement ratio of 95.03%. Not just this only but SBI Life Insurance Company also provides 24×7 assistance for their customers.

SBI Life Insurance Company is a trusted and reliable Insurance company in India. The main and most important feature of the SBI Life Insurance and Health Insurance Company is the variety of policies offered by the company to the policyholders. Not just the variety of policies but this Company also enabled full transparency between the policyholder and the company.

sbi life insurance policy

As the company also provides an online SBI insurance premium calculator on their official website, which can be used to know about the official Premium of your insurance. If you don’t know anything about this then also don’t worry, we are going to provide you with complete detail about this topic in this article.

If you are new to our website then you can also bookmark our website for future reference, as we regularly keep posting such helpful topics for your help and assistance.

Types of SBI Life Insurance Plans

SBI Life Insurance Policy or State Bank of India Life Insurance Policy is one of the leading insurance policy companies in India. This is actually a company with government holdings. In fact, this is one of the oldest insurance companies in India which offer a number of insurance policies for Indian insurance holders.

Apart from this, the company offers a number of insurance policies for citizens or insurance holders starting from the age of 18 to 60 years old. SBI Life Insurance offers different types of life insurance plans which are as follows:

Type of SBI Life Insurance Plan Description Premium
General Life Insurance Plan Basic plan offering protection up to Rs 1 crore with premiums starting at Rs 500 per month Rs 500 per month
Whole Life Insurance Plan Provides complete protection up to Rs 1 crore with premiums starting at Rs 2,000 per month Rs 2,000 per month
Term Insurance Plan Offers protection for a specific period like 10 years with premiums starting at Rs 1,000 per month Rs 1,000 per month
Universal Life Insurance Plan Offers protection up to a certain amount like Rs 1 crore with a premium of Rs 1,000 per month Rs 1,000 per month
Critical Illness Cover Plan Provides coverage in case of illness preventing work with premiums at Rs 2,500 per month Rs 2,500 per month
Family Death Benefit Plan Covers funeral expenses with premiums at Rs 2,500 per month A basic plan offering protection up to Rs 1 crore with premiums starting at Rs 500 per month
Accidental Death Benefit Plan Coverage for accidental death like car accidents with premiums at Rs 2,500 per month Rs 2,500 per month
Critical Illness Cover Plus Plan Offers additional benefits like pre-existing conditions coverage with a premium of Rs 3,000/month Rs 3,000 per month

Types Of Insurance Policies At SBI

SBI Life Insurance Policy provides a number of insurance policies for their policyholders or customers. SBI Insurance aims to provide basic health and life insurance facilities to the Indians. There are various types of insurance provided by SBI and are as follows:

  • Life insurance
  • Health insurance
  • Travel Insurance
  • Personal accidental

If you are also interested to buy any of the above-stated insurance policies of SBI Life Insurance Company then you can directly buy from the official website of SBI Life Insurance Company.

How To Buy SBI Life Insurance Policy?

If you are also interested in buying any of the mentioned Insurance from the official website or via online method then you can follow the steps below-

  • Firstly, you need to open the official website of SBI Life Insurance Company on your preferred mobile or PC device. Here we are also going to give you the link to the official website below.

Link- https://www.sbilife.co.in/

  • On reaching the official homepage of SBI Life Insurance Company, you will find a number of options displayed on the web page.
  • Now look for the option “Products” on the top of the page and click over it.
  • After that, you will notice or find several options for the types of insurance policies mentioned below that.
  • Now select which type of insurance policy you want to buy from SBI Life Insurance Company and click over it.
  • Now, you need to select a plan from the page, you can select any of the mentioned plans, that you want to buy from the SBI Life Insurance
  • After that depending upon the type of insurance, you want to buy you will be redirected to another page where you will need to enter all your personal details and contact details. You will also be asked to select the insurance value and the premium value.
  • Now you need to upload a photograph of yourself and you will also require some documents such as an Aadhar card, address proof, and other identification proof.
  • Then you will be redirected to the payment gateway where you will be asked to pay for the insurance policy via online method.
  • Once the payment is done, you will be allotted a policy number. Kindly take a screenshot of the page and you will also receive an email on your registered email address and an SMS on your Mobile Number about the policy number.

SBI Life Insurance Company Online Premium and Online Premium Receipt

Now, if you have bought SBI Life Insurance for yourself or your family or you already own SBI Life Insurance and you want to pay your premium online then you are at the right place. We wanted to tell you that now you can pay your insurance premium via an online method instead of running after insurance agents and insurance offices.

What Is SBI Life Insurance Policy? Types | 
 How To Buy?

You can pay your online insurance premium with a few simple steps and download your online premium receipt at the same time. Here, we are mentioning all the necessary steps required for this as follows-

  • First of all, you need to open the official website of SBI Life Insurance Company on your mobile or PC device. You can access the online official website of SBI Life Insurance company from the link given below

Link-  CLICK HERE

  • On reaching the official website of SBI Life Insurance, scroll to for the option “Services” on the webpage and click over it.
  • Now, you will be redirected to another page where you need to find the “Online Premium Payment” option. After that click over it.
  • You will be asked to enter a few more details about your insurance policy and then you need to pay your online premium via online payment options.
  • Once your payment is successfully paid on the official payment gateway then you can download the Online Premium Receipt on the same page.

Frequently Asked Questions

What is the official Premium Payment website of SBI Life Insurance Company?

If you are also going to pay the Premium of your SBI Life Insurance online then you need to go to the official premium payment website

What are all the services provided by SBI Life Insurance Company?

SBI Life Insurance is well known for providing services in the insurance sector like- health insurance, travel insurance, and accidental insurance. Apart from this the company also provides other insurance such as group insurance policies.

What is the official support contact number of SBI Life Insurance?

The official support Contact number of the SBI Life Insurance Company is – 1800 267 9090

Conclusion

Here in this article, we discussed everything related to SBI Life Insurance Company and SBI Life Insurance-related services. If you also want to buy SBI Life Insurance or you also own SBI Life Insurance and you don’t know how you can pay the online Premium for your Insurance then you can consider reading the above article thoroughly.

Not just this only, but we have also provided you with a step-by-step guide to download the official SBI Life Insurance Online Premium Receipt.

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