- Written by PolicyBazaar
- Views: 3805
- Published: 23 June 2014
As part of the strategy to increase its product portfolio and increase customer base, India’s largest banking enterprise, State Bank of India, forayed into the life insurance sector in 2001 by entering into a 76%-24% joint venture (JV) with BNP Paribas Assurance.
BNP Paribas Assurance is the insurance arm of Paris-based BNP Paribas. It is the second oldest foreign bank operating in India. BNP-Paribas was ranked as the third largest bank in the world in 2012. Bulk of bank’s business comprises of three business units: Retail banking, Corporate and Investment banking and Investment solutions.
SBI Life Insurance has created a name for itself as a trustworthy insurance company that believes in excellence, innovation and customer satisfaction. According to the IRDA, SBI Life Insurance has a claim Settlement Ratio of 94.41%. It has won numerous awards such as IMC Ramkrishna Bajaj National Quality Award 2012. In a survey conducted by ET-Nielsen, the company was adjudged as the ‘Most Trusted Private Life Insurance Brand’, 2013, for the third consecutive year.
SBI Life Insurance - Product Portfolio
These are low cost life insurance plans which are designed to provide full protection & financial stability to your family in case of any unforeseen events
- SBI Life - Smart Shield
- SBI Life - Saral Shield
- SBI Life - eShield
- SBI Life - Grameen Bima
These are unit linked insurance plans which provide you with a wide array of funds, riders and other options, and give you the complete freedom to fulfill all your investment and insurance needs.
- SBI Life - Smart Wealth Builder
- SBI Life - Smart Wealth Assure
- SBI Life - Saral Maha Anand
- SBI Life - Smart Scholar
- SBI Life - Smart Elite
- SBI Life - Smart Power Insurance
- SBI Life - Smart Performer
Pension plans help you to save for your old age so, that you maintain the same life style even after you retire and live life tension free.
- SBI Life - Saral Pension
- SBI Life - Retire Smart
- SBI Life - Annuity Plus
SBI Life plans helps you accumulate and save for your child’s bright future.
- SBI Life - Smart Champ Insurance
- SBI Life - Smart Scholar
These are low risk SBI Saving and investment plans which provides guaranteed amount on maturity and help you plan systematically for your future.
- SBI Life - Smart Income Protect
- SBI Life - Smart Guaranteed Savings Plan
- SBI Life - Smart Money Back Gold
- SBI Life - Shubh Nivesh
- SBI Life - Saral Swadhan+
- SBI Life - Flexi Smart Plus
Compare all SBI Life insurance plans from other life insurance companies in India to get the best insurance plan that suits your investment, savings or health insurance needs.
SBI Life Distribution Network:
SBI Life has a unique multi-distribution model with Bancassurance, Retail Agency, Institutional Alliance and Corporate Solutions distribution channels. SBI Life leverages the State Bank Group relationship as a platform for cross-selling insurance products which has bank accounts of over 100 million customers. It also has over 85,000 Insurance Advisors who offer door to door insurance solutions to customers.
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