SBI Life Insurance Company is a joint venture between the largest state-owned bank, State Bank of India (SBI) and a French multinational bank and financial services company, BNP Paribas. SBI Life Insurance Company was founded in the year 2001 in the month of March. SBI Life is one the leading private life insurers in India. SBI offers a vast array of Term, Unit-Linked, Investment, Savings, Retirement, Child and Moneyback plans. Their mission is to emerge as the leading company that offers a comprehensive range of life insurance plans at affordable prices and ensures high standards of customer satisfaction.
SBI Life Insurance’s philosophy is based on the five core values of trustworthiness, ambition, innovation, dynamism and excellence. SBI Life Insurance provides best-in-class services to customers while ensuring commitment to ethical standards, professional integrity, corporate governance and regulatory compliance.
Types of SBI Life Insurance Plans
SBI Life Insurance offers a comprehensive and a wide range of plans to choose from. Following are the types of life insurance plans offered by the insurance company:
Term Insurance Plans: SBI Life offers 7 term insurance plans namely SBI Life eShield, SBI Life Saral Jeevan Bima, SBI Life Poorna Suraksha, SBI Life Smart Shield, SBI Life Smart Swadhan Plus, SBI Life Saral Swadhan+ and SBI Life Grameen Bima. SBI Life eShield provides life coverage, this plan has inbuilt accelerated terminal illness benefit. SBI Life Saral Jeevan Bima is a pure term plan that ensures your family has financial aid to overcome their financial needs in case of your unfortunate demise.
SBI Life Poorna Suraksha offers auto rebalance of life cover and critical illness benefits at policy anniversary, this plan also comes with in-built critical illness benefit. SBI Life Smart Shield offers life cover at an affordable price, this term plan has two plan options.
SBI Life Smart Swadhan Plus provides life cover along with guaranteed return of premium. SBI Life Saral Swadhan+ provides fixed life cover along with guaranteed return of premiums at the time of plan maturity. SBI Life Grameen Bima is a pure term, micro-insurance plan that helps you provide financial security for your family at reasonable costs while allowing you the option to choose your premium.
Health Insurance Plans:
SBI Life Insurance provides two health insurance plans, namely SBI Life Sampoorn Cancer Suraksha and Corona Rakshak Policy, SBI Life Insurance Company Ltd.Unit-Linked Insurance Plans: SBI Life Insurance offers several wealth creation plans namely SBI Life e Wealth Insurance, SBI Life Smart InsureWealth Plus, SBI Life Saral InsureWealth Plus, SBI Life Smart Wealth Builder, SBI Life Smart Wealth Assure, SBI Life Smart Power Insurance, SBI Life Smart Elite, and SBI Life Smart Privilege. These plans serve the purpose of insurance as well as investment.
SBI Life Insurance offers two child plans namely SBI Life Smart Champ Insurance and SBI Life Smart Scholar. These plans help in securing your child’s education needs and provide life cover for your child as well.
Money back Plans:
SBI Life Insurance offers three moneyback plans, namely SBI Life Smart Money Back Gold, SBI Life Smart Money Planner, and SBI Life Smart Income Protect. These plans help in ensuring a regular income while allowing financial security for loved ones at the same time.Significant Facts About SBI Life Insurance Before investing in SBI Life Insurance plans, it is a must for you to go through some of the key facts about SBI Life Insurance. So, here is a list of major facts about SBI Life Insurance that you should be aware of:
SBI Life Insurance is one of the leading life insurance companies in India.
All across India, SBI Life Insurance has 947 offices with 18,236 employees.SBI Life Insurance has a large and productive individual agent network comprising about 143,232 agents and 60 corporate agents.SBI Life Insurance has a wide bancassurance network of 14 partners.
SBI Life Insurance has more than 27,000 partner branches. It also has 108 brokers and different other insurance marketing firms.In 2021, the gross written premium for SBI crossed Rs. 500 billion mark.SBI Assets under Management achieved the milestone of Rs. 2 trillion in the financial year 2021-22.SBI Life Insurance was awarded the ‘Insurer of the Year – Life Category’ at the FICCI Insurance Industry Awards 2021.Features & Benefits of SBI Life Insurance Plans Here is a list of prime features and benefits that one can enjoy after buying life insurance plans from SBI
Why Choose SBI Life Insurance?
SBI Life is one of the celebrated life insurance providers in India. SBI Life Insurance started as a joint venture between State Bank of India and BNP Paribas Cardif S.A, a renowned life and property & casualty insurance arm of BNP Paribas.
Over the period of time, SBI Life Insurance has introduced a vast array of insurance plans for the benefit of their customers. The insurer follows the ‘Customer-first’ approach and believes in constantly reinventing itself, thereby offering the latest technology and tools to the customers.
Modes of Payment Options in SBI Life Insurance Policy holders of SBI Life Insurance can pay for their policy premium by two prime modes, i.e., online and offline.