98.34
1062 Branches
100% Grievances Solved
SBI Life Insurance gives your family financial protection in the event of your death, backed by State Bank of India, a 98.56% claim settlement ratio (IRDAI Annual Report 2024–25) and a wide range of plans. Here is why many buyers choose SBI Life:
Wide range of policies: From pure term protection to child, retirement and savings plan
Financial Strength and Stability of SBI Life- SBI Life reported a net worth of ₹19,090 crore, assets under management of ₹4,87,160 crore and profit after tax of ₹2,470 crore in FY26. It is a zero-debt company, as its FY 2025–26 Annual Report states, and CRISIL rates it "AAA/Stable".
SBI Life Claim Settlement Ratio - SBI Life's claim settlement ratio is 98.56% (IRDAI Annual Report 2024–25).
SBI Life Solvency Ratio - SBI Life's solvency ratio was 190% in FY26, well above IRDAI's 150% minimum, so it holds ample capital to pay claims.
Customisable riders: Add critical illness, accidental death and premium waiver benefits to your base plan.
Our term life insurance calculator in india can help you calculate the following:
SBI Life offers different kinds of individual plans:
Term plans for protection of your family’s future in case of an unfortunate demise
Investment Plans (ULIPs, Child, and Retirement/pension plan) for building wealth
Credit life insurance plan for loans
Each table below gives the plan details, and what makes the plan different.
SBI Life Insurance Company offers protection plans, which are pure-term plans designed to secure your family’s financial stability by providing financial coverage in case of an unforeseen event like illness, accident, or death. Some of these plans also return your premiums if you survive the policy term .
Here is a list of all SBI Term insurance plans offered under SBI Term Insurance Protection Plans. Let's discuss these plans in detail:
| Protection Plans | Minimum Entry Age | Sum Assured (Min.) | Why Buy this plan? |
| SBI Life Smart Shield Plus | 18 years | 25 Lakhs |
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| SBI Life Smart Shield Premier | 18 years | 2 Crore |
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| SBI Life Smart Swadhan Neo | 18 years | 5 Lakhs |
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| SBI Life eShield Insta | 18 years | 10 Lakhs |
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| SBI Life Smart Swadhan Supreme | 18 years | 25 Lakhs |
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| SBI Life Saral Swadhan Supreme | 18 years | 25 Lakhs |
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| SBI Life Saral Jeevan Bima | 18 years | 5 Lakhs |
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These plans combine life cover with saving, investing or retirement income. ULIP returns are market-linked and not guaranteed.
| Type | Plan | Minimum entry age | Sum assured (min.) | Why Buy this plan? |
| Savings | SBI Life Smart Platina Plus | 30 days | Rs 5,50,000 |
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| Savings | SBI Life Smart Platina Assure | 30 days | Rs. 3,15,000 |
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| Savings | SBI Life New Smart Samriddhi | 30 days | Rs. 61,000 |
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| Savings | SBI Life Smart Bachat Plus | 3 years | Rs. 2,00,000 |
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| Savings | SBI Life Smart Lifetime Saver | 30 days | Rs. 30,000 |
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| Savings | SBI Life Smart Platina Supreme | 3 years | Rs. 5,50,000 |
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| ULIP | SBI Life eWealth Plus | 5 years | Annual premium × 10 |
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| ULIP | SBI Life Smart Fortune Builder | 2 years | Annual premium × 10 |
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| ULIP | SBI Life Smart Elite Plus | 18 years | 7 × annual premium |
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| ULIP | SBI Life Smart Privilege Plus | 8 years | 7 × annual premium |
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| Retirement | SBI Life Retire Smart Plus | 20 years | Not specified |
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| Retirement | SBI Life Saral Pension | 40 years | Not specified |
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| Retirement | SBI Life Smart Annuity Plus | 30 days | Not specified |
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| Child | SBI Life Smart Scholar Plus | Parent: 18 years; child: 0 years | 10 × annual premium |
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SBI Credit Life Insurance plan is designed to protect your family from the burden of outstanding loans after your death.
| Plan | Entry age | Maximum maturity age | Sum assured | USP |
| SBI Rinn Raksha | 16-70 years | 75 years | Minimum ₹10,000 per member; no maximum limit |
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Here is a list of benefits of SBI Life Insurance Plans:
Financial Security - SBILife offers death benefits to ensure the family's financial security in case of a policyholder's sudden death. The payout also covers unpaid debts or loans.
Death Benefit- If the life assured dies during the policy term, the nominee receives a lump sum, a regular income, or a combination of both. The payout can also help clear unpaid loans and debts.
Maturity Benefit - Eligible SBI Life savings and endowment plans pay a maturity benefit when you complete the policy term. Pure term plans generally pay nothing at maturity unless you choose a return of premium variant.
Return of Premium Benefit - SBI Life plans, the premiums you paid are returned if you survive the policy term. Pure term plans do not offer this. If you want it, look at return of premium options such as SBI Life Smart Swadhan Supreme.
Bonus Benefits- SBI Life declares bonuses on eligible participating policies, and rates vary and are not guaranteed. A simple reversionary bonus is usually a percentage of the sum assured, and a terminal bonus may be paid on death, maturity or surrender.
Policy Loan Facility- Some SBI Life policies let you borrow against their surrender value without surrendering the policy, but not every plan offers this. The loan amount and interest rate depend on your policy terms. Any unpaid loan and interest may be deducted from the payout, so check the repayment terms.
Tax Benefits - SBI Life Insurance plans offer tax benefits under Sections 80C and 10(10D) of the Income Tax Act, 1961. Individual life insurance premiums have also been exempt from GST since 22 September 2025, so you pay only the base premium and any rider cost.
24/7 Customer Support – Get a well-coordinated customer care team that offers timely assistance to customers round the clock.
SBI Life Smart Care App – Manage your policy effortlessly with a user-friendly digital platform offering self-service options.
Secures child's future - The payouts from SBILife Insurance plans support your child's financial needs, such as higher education and marriage.
Enhanced Coverage with Riders- SBI Life allows customization through riders, such as Accidental Death Benefit (ADB) or Accidental Partial Permanent Disability Benefit (APPD).
There are three places to read about an SBI Life plan before you buy, and it helps to use more than one.
SBI Life's official website: Read the insurer's own description of each plan. You will find plan pages, product brochures, and service information for existing customers.
Policybazaar's website: Compare SBI Life plans with other insurers' plans. You will find premium quotes for your age and cover, plan features side by side, and online purchase.
The plan brochure: Check the full terms before you decide. It lists the benefits, charges, eligibility, riders and exclusions, so read it carefully before buying.
If you have a question the website and brochure do not answer, call SBI Life customer care on 1800 267 9090 (24x7) or visit a branch.
Before you buy a life insurance or savings plan from SBI Life, understand a few things to think about: what you want the plan to do, how much cover you need, what you can pay each month and for how long.
| Features | Term plan | Savings plan | ULIP |
| Main purpose | Protect your family | Protect your family and save | Life cover for your family plus investing in market linked funds |
| If you outlive the term | Maturity benefits is not paid, unless you choose a return of premium variant | Eligible plans pay a maturity benefit | You receive the fund value, which depends on market performance and charges |
| Returns | Return of premium variants refund the premium you paid | Benefits and bonuses depend on the plan; bonuses are not guaranteed | Market-linked and not guaranteed |
| Premium for the same cover | Lowest | Higher | Higher |
| Suits you if | If you want to protect your family with a high cover at a low premium | You want disciplined savings with cover | You can accept market risk for a chance of higher growth |
Your SBI Life cover should be 10 to 15 times your annual income, plus your loans and future needs such as your children's education. For a ₹20 lakh salary, that is ₹2 crore to ₹3 crore. A HLV calculator can help you check the number.
Protection and investment are different needs, so decide each one on its own:
Protection: a term plan. You choose the sum assured: from ₹5 lakh (Saral Jeevan Bima), ₹25 lakh (Smart Shield Plus) or ₹2 crore (Smart Shield Premier).
Investment: a savings plan or ULIP. You choose the yearly premium, and the plan gives life cover of 7 to 10 times it, which is small.
Together: a ₹2 crore term plan plus a ULIP at ₹50,000 a year (10 × cover) gives about ₹2.05 crore of cover, and the ULIP also builds a fund for your goals.
Fix your term cover first, then invest what you can spare.
Before you buy, ask two questions: does my term cover reach 10 to 15 times my income plus loans, and can I keep paying the investment premium for the full term? ULIP returns are market-linked and not guaranteed.
There are many kinds of plans provided by SBI Life Insurance Company that offer sum assured plans in flexible options. The choice of the sum assured depends upon what kind of coverage you need - whether it is a basic life cover or comprehensive insurance cover.
Policybazaar quotes a starting price of ₹1,385 a month for ₹2 crore of cover for a 25-year-old non-smoker male, but ₹2,575 a month for the same cover at 35, so waiting ten years raises the premium by about 86% for the same 35-year term. Same as for ₹1 crore sum assured
| Age | Cover | Cover until age | Starting price (₹ a month) | Policy Term (Years) |
| 25 | ₹1 crore | 60 | 800 | 35 |
| 35 | ₹1 crore | 60 | 1,201 | 25 |
| 45 | ₹1 crore | 60 | 2,167 | 15 |
These are starting prices across the insurers on Policybazaar for a non-smoker male with no pre-existing disease, not SBI Life prices alone. Your own quote depends on your age, health, occupation, term and riders. Your policy premium rate depends on your age, health, occupation, term and riders, and you can check it with Policybazaar’s term insurance calculator.
Policybazaar's SBI Life ULIP shows that a healthy 30-year-old investing ₹10,000 a month for 30 years could see a maturity value of about ₹50.46 lakh at an assumed 4% return, and about ₹1.05 crore at an assumed 8%. Here is how four SBI Life ULIPs compare for ₹22,000 a month over 18 years:
| Plan | Monthly investment | Invested for (years) | Estimated maturity value @ 4% | Estimated maturity value @ 8% |
| SBI Life Smart Privilege Plus | ₹22,000 | 18 | ₹89.2 lakh | ₹1.65 crore |
| SBI Life Smart Elite Plus | ₹22,000 | 18 | ₹87.5 lakh | ₹1.60 crore |
| SBI Life Smart Fortune Builder | ₹22,000 | 18 | ₹84.8 lakh | ₹1.54 crore |
| SBI Life eWealth Plus | ₹22,000 | 18 | ₹82.9 lakh | ₹1.49 crore |
These are estimates at assumed returns of 4% and 8%, which are not guaranteed and are not the upper or lower limits. Actual values depend on fund performance, charges, whether you continue the policy and market conditions. The investment risk is borne by the policyholder.
What the two tables tell you: ₹1 crore of term cover starts at ₹800 a month at age 25, while a ULIP at ₹22,000 a month builds about ₹83 lakh to ₹1.65 crore cover over 18 years, depending on the assumed return. So, term insurance is the low-cost way to protect your family, and a ULIP is a way to build wealth, not cover. Starting early helps both.
You can buy an SBI Life term plan online in a few steps, either on Policybazaar or on SBI Life's own website.
From Policybazaar:
Here is how you can buy SBI online term policy from the comfort of your home in just a few clicks:
Step 1: Go to the term insurance page
Step 2: Enter your name, date of birth, gender, and mobile number in the form
Step 3: Fill in the smoking habits, educational qualifications, occupation types, and annual income
Step 4: Select the most suitable plan and proceed to pay
From SBI Life Insurance Official Website
Step 1: Go to the official website of SBI Life Insurance
Step 2: Choose the type of plan you want to buy from the top menu and enter your name, date of birth, gender, and mobile number
Step 3: Fill in your smoking habits, educational qualifications, occupation type, and annual income
Step 4: Select the sum assured, policy term, and preferred plan option
Step 5: Review the premium and proceed to fill in detailed personal, medical, and nominee details
Step 6: Upload the required documents and complete medical tests if required
Step 7: Make the online payment and receive your policy document after approval
The following documents are required to be submitted while purchasing an SBI Life Insurance policy:
Government-approved identity proofs: Aadhar card, PAN card, passport, voter ID, driving license, etc.
Address proof: PAN card, Adhaar card, driving license, voter ID, passport, etc
Proof of income: Salary income, ITR/Form 16, bank statement, audited company accounts of last 3 years, CA certificate, rent receipts, mandi receipts, indian/foreign bank statements
KYC documents: Insurance policy contracts with companies, insurance contracts with partnership firms, insurance contracts with trusts and foundations, insurance contracts with HUFs.
| Features | Buying from SBI Life | Buying through Policybazaar |
| What you can compare | SBI Life's own plans | SBI Life plans alongside other insurers' plans, side by side |
| Online discounts | As offered by SBI Life on the plan page | Up to 15% online discount shown on Policybazaar's term insurance pages, as per each insurer's IRDAI-approved plan; terms apply |
| Help when a claim arises | SBI Life customer care and claims team | Claims assistance helpline 1800-258-5881 (24x7), with a first response within 30 minutes, subject to Policybazaar's terms |
| Who settles the claim | SBI Life, as per the policy terms | SBI Life, as per the policy terms |
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Under IRDAI's rules, SBI Life can collect premium only after it accepts your proposal, and Bima-ASBA lets you block the amount by UPI so it is debited only when the policy is issued.
Yes, NRIs can buy SBI Life Insurance plans from abroad to secure their financial future in India, subject to underwriting guidelines. The process follows Indian regulations, with eligibility criteria, online facilities and documentation requirements that make it accessible to NRIs.
SBI Life plans available for NRIs. NRIs can choose from term insurance, savings and endowment plans, child insurance plans and retirement plans. Availability may vary based on your country of residence and underwriting norms.
Premium payment options for NRIs
Pay in Indian rupees through Indian banking channels.
Pay from an NRE, NRO or resident Indian account.
Pay online without travelling to India.
Claim and policy servicing for NRIs
Use the online portal for premium payments, policy enquiries and claim notifications.
SBI Life processes claims in India and settles them in Indian rupees.
Nominees can file claims independently with the proper documentation.
SBI Life Insurance offers an easy and quick claim process to settle an SBI claim in just three steps:
Step 1: Claim Intimation
The policyholder needs to fill out an online application form on the official SBILife Insurance website to file a claim. People who have policies can also bring the intimation letter to the nearest SBI branch.
Step 2: Send in your documents
Send in the completed claim form and any other required documents.
Step 3: Claim Decision & Settlement
SBI Life Insurance Co Ltd will review the claim and the documents submitted. Once approved, the claim amount will be sent to the registered bank account.
SBI Life may request the following, depending on the cause of death.
Mandatory for all death claims:
Duly filled death claim form
Original policy document
Death certificate issued by the local municipal authority (original or attested)
Claimant’s ID proof and current address proof
Cancelled cheque with the claimant’s name and account number printed, or bank passbook details, for NEFT payment
Additional for accidental or unnatural death:
Post-mortem report and viscera report, if done
FIR and police investigation report
Medical or hospital treatment records
Additional for natural death:
Medical certificate or hospital treatment certificate
IRDAI sets the maximum time insurers can take, and SBI Life works within these limits. Most third-party guides say straightforward claims with complete documents are settled within about 30 days.
Requirements: If any documents are missing, the insurer should request them within 15 days of receiving the claim.
Standard settlement: Within 30 days of receiving all required documents.
Claims needing investigation: Within 90 days of the claim intimation. This often applies to deaths soon after the policy starts, or where the cause of death needs checking. These timelines are set by IRDAI’s policyholder protection rules.
Delay: If the insurer is late, the claimant is generally entitled to interest on the amount, as set by IRDAI.
Beyond the basic death benefit, SBI Life plans let you adjust your protection in several ways. Which options you get depends on the plan, so confirm each one in the plan's brochure.
Raise your cover over time: Some plans increase cover automatically at life events or at set intervals. SBI Life eShield Next, for example, offers level cover, increasing cover, and level cover with a future-protection benefit.
Choose how your family is paid: The death benefit can be paid as a lump sum, as a regular income, or as a mix of both.
Cover your spouse: Some plans let you protect your spouse under the same policy, such as the better half benefit in SBI Life eShield Next. SBI Life Smart Shield Plus also offers special premium rates for women.
Choose how long you pay: Plans such as SBI Life Smart Shield Plus offer regular, limited or single premium payment.
Get your premiums back: Return of premium options, such as in SBI Life eShield Insta and Smart Swadhan Supreme, refund the premiums you paid if you survive the term.
Borrow against your policy: Some policies let you take a loan against their surrender value without surrendering the policy.
Pause your premiums: On certain plans, such as SBI Life Flexi Smart, you can take a premium holiday of 1 to 3 years after paying premiums for 5 years, and the policy stays in effect during the break.
Revive a lapsed policy: Pay the unpaid premiums plus interest and submit a Declaration of Good Health at the nearest branch.
SBI Life Insurance riders are optional add-ons that raise your base plan's protection for an extra premium. They cover situations beyond basic life cover, such as accident, disability and serious illness. In-built benefits are different: they come with the plan itself, without you choosing or paying for a rider. Rider availability depends on the SBI Life plan you choose, so check the plan's terms before you buy.
Terminal illness cover: SBI Life eShield Next includes terminal illness cover with every plan option. On other plans, check whether it is in-built or has to be added.
Better half benefit: SBI Life eShield Next lets you secure your spouse under the same plan.
SBI Life Insurance riders are optional add-ons that raise your base plan's protection for an extra premium. They cover situations beyond basic life cover, such as accident, disability and serious illness. Rider availability depends on the SBI Life plan you choose, so check the plan's terms before you buy.
Accidental Death Benefit Rider
The Accidental Death Benefit (ADB) rider pays an extra amount, on top of the base death benefit, if the life assured dies in an accident.
Accidental Disability Benefit Rider
This SBI Life rider pays an extra amount if an accident leaves the life assured with a disability, such as an Accidental Partial Permanent Disability (APPD) benefit, as per the plan's terms.
Critical Illness Rider
The critical illness rider adds cover for specified serious illnesses, giving you financial support at the time of diagnosis, subject to the rider's conditions.
Terminal Illness Benefit
This benefit allows an early payout if the life assured is diagnosed with a terminal illness, so the family does not have to wait for the death claim.
Waiver of Premium Rider
The waiver-of-premium rider waives your future premiums during a covered disability or illness while your policy stays in force.
Some SBI Life plans also let you add cover for your spouse. Read each rider's definitions, waiting periods and exclusions before you add it. Before you buy a life insurance or savings plan from SBI Life, first understand a few things to think about.
Some SBI Life plans also let you add cover for your spouse. Read each rider's definitions, waiting periods and exclusions before you add it.
SBI Life Insurance is one of India's best-known private life insurers, combining the reach of State Bank of India with the global experience of BNP Paribas Cardif. It offers protection, savings, investment, retirement, and child plans, as well as service policies, through its website, the SBI Life Smart Care app, and branches.
| Particulars | Details |
| Company name | SBI Life Insurance Company Limited |
| Established | October 2000 |
| Promoter | State Bank of India |
| Product range | Term insurance, savings plans, ULIPs, retirement plans, child plans and group insurance |
| Network | 1,230 offices and 40,500+ partner bank branches in 28 States and 7 Union Territories |
| Agency network | 2,82,001 agents |
| Net worth | ₹19,090 crore |
| New business premium (FY26) | ₹42,551 crore |
| Assets under management (FY26) | ₹4,87,160 crore |
| Solvency ratio (FY26) | 190% |
| Claim settlement ratio (Q1 FY27) | 96.81% |
| Policy servicing | Online through the website and SBI Life Smart Care, plus branch support |
You can check a decision against facts: how long the company has been around, how often it pays claims, how much capital it holds, and how it compares with other insurers.
SBI Life has grown from a bank-promoted joint venture into one of the largest private life insurers in India. Key milestones:
October 2000: SBI Life Insurance is established.
2007: CRISIL assigns SBI Life a financial strength rating of AAA/Stable.
September 2017: SBI Life's IPO opens on 20 September at a final issue price of ₹700 per share. The shares were listed on the NSE (symbol: SBILIFE) and the BSE in October 2017.
2 June 2023: IRDAI orders the transfer of Sahara India Life's business to SBI Life.
To date, SBI Life has served over 8.36 crore policyholders and paid claims worth ₹306,452 crore.
Who Owns SBI Life Insurance?
SBI Life is promoted by State Bank of India (74%), in partnership with BNP Paribas Cardif. Although India's largest public sector bank is its promoter, SBI Life is a private, publicly listed life insurance company, not a government insurer. Its shares trade on the NSE and BSE.
SBI Life's claim settlement ratio is 98.56% (IRDAI Annual Report 2024–25). The table shows its reported trend.
| Financial year | Claim settlement ratio |
| FY 2027 Q1 | 96.81% |
| FY 2025–26 | 99.4%* |
| FY 2024–25 | 98.56% |
| FY 2023–24 | 98.62% |
| FY 2022–23 | 97.26% |
| FY 2021–22 | 97.05% |
| FY 2020–21 | 93.09% |
*FY 2025–26 is the overall death claim settlement ratio and may not be directly comparable with the individual death claim settlement ratios of the other years. FY 2027 Q1 covers one quarter only.
SBI Life's solvency ratio was 190% in FY26, well above IRDAI's 150% minimum, so it holds ample capital to pay claims.
| Year | Award |
| 2025 | Best Life Insurance Company – India |
| 2025 | Best AI-Powered Conversational Analytics Platform |
| 2024 | Best Life Insurance – Large Category |
| 2024 | Top 500 Value Creators |
| 2023 | #35 Most Valuable Indian Brand |
| 2023 | Amiable Insurer – Large Category |
| 2023 | Highest Growth |
| 2023 | Global Performance Excellence Award (World Class) |
| 2023 | Best CSR Initiative/Public Awareness (“The Most Ignored Rider”) |
| 2023 | Gold – Environment Protection Initiative of the Year |
| 2022 | Most Trusted Private Life Insurance Company |
| 2022 | Best Life Insurance Company of the Year |
| 2022 | Gold – CLO (Chief Learning Officer) of the Year |
| 2022 | Gold – L&D Team of the Year |
| 2022 | Silver – Best Induction Training Program |
SBI Life holds a claim settlement ratio of 98.56% and a solvency ratio of 1.90, which puts it above the 1.5 regulatory minimum and in the upper half of the 21 insurers below on solvency. Compare the three metrics that matter most when choosing a life insurer: claim settlement ratio, solvency ratio and features.
| Life insurer | Claim settlement ratio | Solvency ratio | Special features |
| SBI Life Insurance Company Limited | 98.56% | 1.96 | Auto-increase cover at life events, SBI branch network access, cover till age 100, increasing cover every 5 years |
| Aditya Birla Sun Life Insurance Company | 98.86% | 1.88 | Auto-increasing cover, life stage benefit, built-in health management, return of premium option |
| Aviva Life Insurance Company India Limited | 99.07% | 1.93 | 3D protection (death, disability, disease), dedicated claim personal manager, credit protect for loans, special rates for women and non-smokers |
| Axis Max Life Insurance Company | 99.70% | 2.01 | 7 plan variants for every life stage, 64 critical illnesses covered, pregnancy and newborn congenital anomaly cover for women |
| Bajaj Life Insurance Company | 99.29% | 3.59 | 96% of claims settled in 1 working day, 55 critical illnesses covered, first-time buyer discount |
| Bandhan Life Insurance Limited | 99.73% | 2.69 | Special exit value (premiums refunded mid-term), return of premium on survival, 100% claims within 30 days |
| Bharti Axa Life Insurance Company Limited | 99.18% | 1.67 | Coverage up to 50 years, no medical tests for eligible buyers, lump sum or monthly income payout, AXA global backing |
| Canara HSBC Life Insurance Company Limited | 99.52% | 2.06 | Spouse cover under same policy, premium locked at inception, child care benefit built in, coverage till 99 years |
| Edelweiss Life Insurance Company Limited | 99.29% | 1.81 | Better half benefit (auto spouse cover), skip up to 8 premiums, coverage till age 100, 6% discount for fast medicals |
| Generali Central Life Insurance Company Limited | 95.57% | 1.7 | Global Generali Group backing, critical illness rider, accidental death cover, flexible premium payment terms |
| HDFC Life Insurance Company | 99.68% | 1.94 | 24-hour claim processing, LiveWell wellness rewards, women-specific premium waiver, 60 critical illnesses covered |
| Go Digit Life Insurance Ltd. | 99.53% | 3.85 | Built for the self-employed, zero form-filling on claims, term and health combo plan, built-in wellness benefits |
| ICICI Life Insurance Company Limited | 99.6% | 2.12 | Critical illness payout on diagnosis (no bills needed), life stage cover increase, cover for women-specific cancers, home pickup of claim documents |
| IndiaFirst Life Insurance Company | 98.04% | 2 | Bank of Baroda and Union Bank backed, pay 5 years and stay covered till 99, spouse cover under same policy, 10% online discount |
| Kotak Life Insurance Company | 98.61% | 2.45 | Step-up cover at milestones, exit option at age 60, 3 payout structures, coverage till age 85 |
| Life Insurance Corporation of India | 91.32% | 2.11 | Life insurance protection and guaranteed payouts, loan facilities, specialised plans for education, retirement and women |
| PNB MetLife India Insurance Company Limited | 99.81% | 1.72 | PNB and MetLife 140-year global backing, whole life cover till 99, spouse cover under same policy, return of premium option |
| Pramerica Life Insurance Company Limited | 99.18% | 2.33 | Prudential Financial (USA) backing, critical illness lump sum rider, flexible premium payment terms, high solvency stability |
| Shriram Life Insurance Company Limited | 98.31% | 1.79 | Wide range of protection and savings plans, flexible premium payment options, life cover with savings benefits under select plans |
| Star Union Dai-ichi Life Insurance Company Limited | 99.01% | 2.3 | Dai-ichi Japan (top 10 global insurer) backing, 20,000+ bank branch access, PMJJBY empanelled insurer, high sum assured rebates |
| Tata AIA Life Insurance Company Limited | 99.41% | 1.8 | 15% discount for women, FlexiPay option to defer premiums for 12 months, 105% return of premium, life stage cover increase |
SBI Life's claim settlement ratio of 98.56% ranks 17th of the 21 insurers listed. It is above LIC (91.32%), Generali Central (95.57%), IndiaFirst (98.04%) and Shriram Life (98.31%), and below the 14 insurers at 99% or more, led by PNB MetLife (99.81%), Bandhan Life (99.73%) and Axis Max Life (99.70%). A ratio above 98% means SBI Life settled almost all death claims it received, but compare insurers on the same reporting basis and year.
SBI Life’s solvency ratio was 1.96 as of March 2025, according to IRDAI data. That puts it 15th among the 25 life insurers with reported data. It is ahead of HDFC Life (1.94), Aviva (1.93), Aditya Birla Sun Life (1.88) and Tata AIA (1.80). It trails LIC (2.11), ICICI Prudential (2.12), Axis Max Life (2.01) and Kotak (2.45).
Yes, SBI Life Insurance is a good choice for most insurance buyers. It combines the trust of State Bank of India, a broad range of life insurance products and a track record that dates back to 2000. Whether you want pure life cover, long-term savings, retirement planning or child-focused plans, SBI Life has a plan for each goal.
SBI Life has shown financial strength through a 1.90 solvency ratio, zero debt and a 98.56% claim settlement ratio. Its wide distribution network and digital services, including the SBI Life Smart Care app, also make buying, managing and servicing policies convenient.
Before you buy, compare SBI Life with other insurers on claim settlement ratio, solvency and features, and get a personal quote, since your premium depends on your age, health, occupation, term and riders.
Customer experience shows how many policies stay active, how many customers complain and how complaints are handled.
SBI Life's FY26 numbers show strong policy retention and few complaints:
13th-month and 61st-month persistence of 87.9% and 58.1%
97.6% of renewals done digitally
8 grievances per 10,000 policies
"I compared a few term plans on Policybazaar and chose SBI Life because the features and the premium were laid out clearly. The process was quick, I did not have to visit any branch, and my questions were answered promptly. I now have the cover my family needs, and I know where to go if I need help with my policy."
— [Rahul, Delhi
Source: Policybazaar
SBI Life Insurance provides a structured grievance redressal mechanism for policyholders. Complaints can be lodged with the company directly and escalated through successive levels if they remain unresolved.
Online complaint: Register your complaint on SBI Life's online grievance portal.
Regional Director: Escalate to the Regional Director if the issue remains unresolved.
Corporate office: Call 022-6645 6100 or 022-6645 6785.
Insurance Ombudsman: Approach the Ombudsman if the grievance still persists.
You can handle most SBI Life policy tasks online, including checking policy details, paying premiums and downloading statements, through the website or the SBI Life Smart Care app.
24/7 customer support: Get a well-coordinated customer care team that offers timely assistance to customers round the clock.
SBI Life Smart Care app: Manage your policy effortlessly with a user-friendly digital platform offering self-service options.
You can check your SBI Life policy details free of charge through the Smart Care portal or app. After you log in, you can see your SBI Life insurance policy details: policy status, sum assured, premium due date and amount, nominee details, fund value for ULIPs, policy statements and premium paid certificates.
Visit the official SBI Life website.
Click "Login" and choose "Customer". You are redirected to the Smart Care portal.
New users: enter your customer ID, policy number, email ID and date of birth in the New User section and click Submit. Your login credentials are sent to your registered email ID.
Log in and open the policy section to view your SBI Life policy details and download statements.
| Method | How it works |
| SMS | Send POLSTATUS followed by your policy number from your registered mobile number to 56161 or 9250001848 |
| Toll-free number | Call 1800 267 9090 with your policy number ready |
| Write to info@sbilife.co.in from your registered email ID with your policy number | |
| Branch | Visit an SBI Life branch with your policy number and ID proof |
You can download your policy copy, premium receipts and statements from the SBI Life Smart Care portal or app, any time. Keep the policy number and your login details handy.
Log in: Go to the SBI Life website, click "Login" and select "Customer." Sign in with your User ID, MPIN or OTP.
Open your policy: Go to the "My Policy" section and select the policy.
Choose the document: Open "Policy Documents/Statements" and pick what you need, such as the policy bond, premium receipt or payment certificate.
Download: Save the PDF to your device.
If you can't find a document or a policy is missing from your account, contact SBI Life customer care with your policy number.
Your premium receipts and payment certificates are in the same "Policy Documents/Statements" area. For tax filing, log in to your SBI Life account, open the "Policy Statement" section, choose the policy and the year, and download or print the premium paid certificate.
With SBI Life, you can easily make SBI Life online premium payments through its official website, SBI YONO App, SBI Smart Care App, UPI apps like PhonePe/Paytm/GooglePay, net banking, and Policybazaar.
Payment options at a glance
SBI Life website
Policybazaar SBI premium payment
Visa BillPay
Internet banking
e-Wallet
Smart Care mobile app
Online standing instruction on credit card
Direct debit
Post or courier
Direct remittance at an SBI Life branch
Authorised collection centres (cash)
POS terminal at an SBI Life branch
State Bank ATM
Auto debit through NACH
You can easily manage and pay your SBI Life Insurance premiums using SBI's mobile apps. Both SBI YONO and SBI Life Smart Care let you handle your policy directly from your smartphone. SBI Life Smart Care is built specifically for insurance. It gives you a more detailed view of your policy, including premium history, upcoming due dates, fund value (for ULIPs), and policy status. To download the SBI Life Smart Care:
Open Google Play Store (Android) or Apple App Store (iPhone).
Search for "SBI Life Smart Care".
Select the app published by SBI Life Insurance Co. Ltd.
Tap on Install / Download.
Once installed, open the app and log in using your policy details.
Policyholders can access the SBI Life Smart Care portal to check policy details, download statements, track premium due dates, and manage services online. To proceed with the SBI Life login, follow the steps below:
Visit the SBI Life official website.
Go to the SBI Life Insurance "Login" tab and choose "Customer" from the drop-down menu.
You will then be redirected to the Smart Care portal. In the New User section, enter your customer ID, policy number, email ID, and date of birth. Click Submit.
The SBI Life policy login credentials will be sent to your registered email ID.
SBI Life Smart Care is the company's customer portal and app for managing your policy online. Existing policyholders can log in with a User ID, MPIN or OTP, without visiting a branch.
Policy details and status: View your policy dashboard, coverage and premium due dates.
Premium payment: Pay online anytime through UPI, cards, net banking or wallets.
Documents and statements: Download your policy copy, premium receipts and payment certificates.
Application tracking: Check the status of a new proposal using the proposal number and date of birth.
Support: Raise queries or request a call back.
You can reach SBI Life Insurance customer care 24x7 on 1800 267 9090, or by email, SMS, branch visit or social media.
| Category | Contact details |
| Corporate office | Natraj M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069 |
| Corporate office phone | 022-6191 0000 |
| Toll-free number | 1800 267 9090 (24x7) |
| info@sbilife.co.in | |
| SMS | LIBERATE to 56161 |
How to find an SBI Life branch near you. Use the official SBI Life branch locator: visit the locator, select your state (for example Maharashtra), choose your city (for example Mumbai) and browse the list of branches.
| Channel | Handle | What SBI Life shares |
| X (Twitter) | @SBILife and @SBILifeCares (220K+ followers) | Insurance updates, financial awareness content and customer support. Send a DM or tag the handles. |
| @sbilifeinsurance (284K+ followers) | Financial tips, campaigns and customer stories. Connect through DMs and comments. | |
| SBI Life Insurance (3.6M+ followers) | Campaigns, product updates and awareness content. Use Messenger for assistance. | |
| YouTube | SBI Life Insurance Co. Ltd. (145K+ subscribers) | Product explainers, customer stories and aw |
˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
+On the basis of your profile
+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10
+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.
+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.
+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.
+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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