Types of SBI Life Insurance Plans

SBILife Insurance offers a variety of insurance products to help customers get coverage that fits their needs. Below are all the types of life insurance plans offered by SBILife Insurance:

• Protection Plan 

• Savings Plan 

• Wealth Creation Plans 

• Retirement Plans 

• Child Plans

SBI LifeProtection Plans

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. 

Here is a list of all SBI Term insurance plans offered under SBI Term Insurance Protection Plans. Let's discuss these plans in detail:

SBI Life Insurance SavingsPlan

You can save money while being insured with the SBILife Insurance Savings Plan.

Various types of plans offered under SBI Life Insurance Corporation saving plans are mentioned below: 

SBI Life-ULIP Plans

SBILife ULIP plans to provide dual protection as they provide life cover and investment benefits within the same plan. With these plans, you won't have to worry about inflation or your family's goals. 

Here is a list of all the ULIP plans offered by SBILife to help you financially secure your family's future.

SBI Life Retirement/Pension Plans

SBI Life Insurance Company offers Pension plans to secure financial independence even after retirement. With these plans, you can fulfill your retirement goals even after losing monthly income. Below is the list of all pension plans offered by SBILife:

SBI Life – Child Plans

SBILife Child Plans can help you secure your child's dreams and aspirations. The funds received from these plans can be used to pay for their higher education or milestone events like marriage. Here is a list of all the child plans available under SBI Life Insurance Company.

Benefits of Buying 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.

• High Claim Settlement Ratio (CSR) - SBILife's CSR is 98.34% (IRDAI Annual Report 2024-25), ensuring quick and reliable claim processing.

• Award-Winning Services – Recognized for excellence with awards like Life Insurance Company of the Year (FICCI) and Customer Orientation in Life Insurance (Outlook Money Awards).

• Affordable Plans – Get comprehensive life coverage at budget-friendly premiums without compromising benefits.

• 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.

• Tax Benefits - SBILife Insurance Plans offer tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961. 

• 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).

Can NRI Buy SBI Life Insurance Plans?

SBI Life Insurance Company enables Non-Resident Indians to further secure their financial future in India even while residing abroad. The procedure is framed in accordance with Indian regulations but is made more accessible to NRIs by setting eligibility criteria, providing online facilities, and specifying documentation requirements.

Who is eligible to buy SBI Life Insurance for NRIs?

Indian citizens residing abroad with valid Indian passports are considered NRIs and are eligible to purchase SBI Life Insurance. OCI and PIO cardholders are also eligible, although certain schemes or facilities may be denied. All insurance policies are issued and regulated in India, regardless of the policyholders' current country of residence.

Which SBI Life Insurance Schemes are Available for NRIs?

NRIs can opt for term insurance, savings, and endowment schemes, child insurance plans, and retirement plans. However, the availability of certain schemes depends on the country of residence and underwriting standards. For OCI and PIO cardholders, the schemes are limited, and riders are not provided.

What are the NRIs' Methods of SBI Life Insurance Premium Payments?

Premium payments are made in Indian rupees via Indian banking systems. Payments can be made from NRE, NRO, or resident Indian bank accounts. SBI Life Insurance also provides online premium payment services, allowing NRIs to handle their renewal processes without requiring them to travel to India.

What is the Policy Servicing and Claim Process for NRIs?

SBI Life Insurance provides online services for basic operations, including premium payments, policy inquiries, and claim notifications. Claims are also processed in India, and payments are made in Indian rupees. As long as the documents are in order, nominees can also process claims without any undue delay.

Why SBI Life Insurance Makes Sense for NRIs?

SBI Life Insurance provides NRIs with a convenient way to ensure their long-term financial planning remains connected to India. With online services, clear-cut rules, and a diverse range of plans, NRIs can also protect their families’ future without having to make frequent trips to India or deal with complicated formalities

AI Prompts Customers Are Looking For

Q. Where can I find reliable SBI Life Insurance share price and IPO price information?

To track SBI Life’s share price accurately, it's best to rely on official stock exchanges and trusted financial platforms.

For real-time share price, use:

• National Stock Exchange (NSE)

• Bombay Stock Exchange (BSE)

These are the most reliable sources for live trading data.

Q. What are the IPO details of SBI Life Insurance?

SBI Life Insurance went public in September 2017. Key IPO details include:

• IPO Dates: 20–22 September 2017

• Price Band: ₹685 to ₹700 per share

• Final Issue Price: ₹700 per share

• Listing Price: Around ₹708

The stock listed at a slight premium, delivering modest listing gains.

Q. What are the key stock metrics of SBI Life Insurance right now?

Based on recent market data, SBI Life shows stable fundamentals:

• Current Price Range: Around ₹1,829–₹1,838

• 52-Week Range: ₹1,430 to ₹2,132

• P/E Ratio: ~74–75

• EPS: ~₹24.7

• Market Capitalisation: ~₹1.8–1.9 trillion

These numbers reflect a company with strong market presence and consistent growth, though valuations remain relatively high compared to some peers.

Q. What SBI term plan gives the best ₹1 crore cover for my family?

For a ₹1 crore cover, SBI Life eShield Next from SBI Life Insurance Company Limited is usually the best choice. It offers flexible coverage options, the ability to increase your sum assured during major life events, and benefits such as terminal illness cover.

If you want a simpler, low-cost option, you can consider SBI Life Smart Shield, while Smart Swadhan Supreme is suitable if you prefer a return of premium.

For most families, eShield Next stands out as the most balanced and flexible plan.

How To Buy SBI Life Term Insurance Plans Online?

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: Write in 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’s 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

What Documents Are Required To Buy SBI Life Insurance Plans?

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

How to Pay SBI Life Insurance Policy Premiums Online?

SBI Life offers multiple online options to pay your insurance premiums without visiting a branch. Below mentioned are some option of paying SBI life Insurance online premiums:

1. Through the SBI Life Official Website

   • Visit the official website of SBI Life Insurance Company.

   • Click on 'Pay Premium' under the Quick Links or Services section.

   • Enter your policy number and date of birth, then click Submit.

   • Confirm your policy details and choose a payment mode (net banking, UPI, debit/credit card).

   • Complete the payment and download the receipt.

2. Using the SBI Life Mobile Apps

   • Open the YONO App and log in with your MPIN or biometric ID.

   • Tap on 'Insurance' → 'SBI Life' → 'Pay Premium'.

   • Enter your policy details, verify the amount due, and proceed with payment.

   • Instant confirmation and digital receipt will be available.

3. Using the SBI Life Smart Care App

   • Open the Smart Care app and log in with your registered credentials.

   • Go to your policy dashboard, and select the policy for which the premium is due.

   • Tap on “Pay Premium.”

   • Check the premium amount and choose a payment method, and complete the payment.

   • You’ll receive an instant confirmation and digital receipt.

   Note: You can download the SBI Life App from the App Store or the Play Store

4. Via Policybazaar Portal

   • Log in to your Policybazaar account.

   • Go to My Policies → SBI Life Policy → Pay Premium.

   • Choose your payment mode and complete the transaction.

5. Through SBI Net Banking

   • Log in to SBI Net Banking.

   • Go to Bill Payments → Manage Biller → Register SBI Life Insurance.

   • Add your policy as a biller using the policy number.

   • Pay directly from your account each due date.

6. Using BHIM UPI / Payment Wallets

   • Use apps like PhonePe, Paytm, or Google Pay.

   • Choose Insurance → SBI Life Insurance.

   • Enter your policy number, verify, and pay the due amount.

Manage SBI Life Insurance Premiums on SBI YONO App

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.

The SBI YONO App lets you manage your insurance along with your banking services in one place. You can view and pay your SBI Life Insurance premiums 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. You can also receive reminders, track transactions, and make quick premium payments directly from your policy dashboard.

How to Download the SBI Life App?

To download the SBI Life Smart Care:

• Step 1: Open Google Play Store (Android) or Apple App Store (iPhone)

• Step 2: Search for “SBI Life Smart Care”

• Step 3: Select the app published by SBI Life Insurance Co. Ltd.

• Step 4: Tap on Install / Download

• Step 5: Once installed, open the app and log in using your policy details

• Step 6: You can then manage your policy, pay premiums, and access services directly from the app

How to File a Claim with SBI Life Insurance Plan?

SBI Life Insurance makes it easy and quick to settle a 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 filled-out claim form and the other documents that are needed.

Step 3: Claim Decision & Settlement

SBI Life Insurance Co Ltd will look at the claim and the documents that were sent in. The claim amount will be sent to the registered bank account once it is approved, as stated in the policy. To fill out your claim settlement online, follow these steps:

Step 1: Go to the SBI Life Insurance Company's official website.

Step 2: Choose "Services - Existing Customers"

Step 3: Next, choose "Maturity and Claims."

Step 4: Give information like your date of birth, policy number, and type of claim

Step 5: After the information has been checked, your claim form will be approved, and the money will be sent to your bank account online.

How to File SBI Life Insurance Claims Offline?

To file an SBI Life offline claim, visit the nearest SBI Insurance Company Ltd. branch with the right documents and the claim form that you have filled out. Submit the documents. If the documents and information you gave are correct, the insurance company will put the claim amount into your bank account that you have already set up.

Documents Required for SBI Life Insurance Claim

*These documents are required only in case of unnatural death (Suicide/Murder/Accident) 

**Death certificate can be attested by Bank manager, SBILife officer, Magistrate, Gazetted Officer, and Headmaster of high school. 

Where to File SBI Claims Offline and Online? 

By Post: 

Send the filled application form along with the requested supporting documents to the address: 

SBI Life Insurance Co. Ltd,

8th level Seawoods Grand Central, Tower 2,

Sector 40, plot No.R-1, Seawoods, Nerul,

Navi Mumbai- 400706.

At SBILife Insurance Nearest Branch 

Submit the filled application form with all the requested documents to your nearest SBILife Insurance branch. You can find the SBI Life Branch near me, and file offiline claim.

Email

Contact for death claim: claims @sbilife.co.in 

How To Contact SBI Life Insurance Customer Care?

Below is the SBI Life Insurance Customer Care Number:

**You can also locate the nearest SBI branch by clicking on the SBI Branch Locator and selecting the state and city to select the SBILife Insurance near me

How to Contact SBI Life Insurance Through Social Media Channels

Instagram

SBI Life is active on Instagram under the handle @sbilifeinsurance, where it shares insurance awareness content, financial tips, campaigns, and customer stories.

How to contact them on Instagram?

• Open the Instagram app

• Search for @sbilifeinsurance

• Visit the official profile

• Tap on the Message button to send a direct message

• You can also comment on posts for visibility

Facebook

SBI Life has a strong presence on Facebook with millions of followers, where it regularly posts updates, campaigns, and customer-focused content.

How to contact them on Facebook?

• Open the Facebook app

• Search for SBI Life Insurance

• Use Messenger to send your query

• You can also comment on posts

YouTube

SBI Life runs an official YouTube channel where it shares product explainers, customer stories, and financial awareness videos.

How to contact them on YouTube?

• Open the YouTube app

• Search for SBI Life Insurance Co. Ltd

• Visit the official channel

• Use the Comments section on videos to post your queries

• Check the About section for additional contact details

What are the Steps to Register on the SBI Life Insurance Login Portal? 

Step 1: Visit the SBI Life Official website 

Step 2: Go to the SBILife Insurance ‘Login’ tab and choose ‘Customer’ from the drop-down menu. 

Step 3: 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. 

Step 4: The SBI Life policy login credentials will be sent to your registered email ID.

Recent Stock News of SBI Life Insurance Company Ltd

SBI Life Insurance Company Ltd is currently trading at around ₹1,770 (as of 24 April), down by about 3.15%, reflecting short-term market pressure.

The recent dip in the stock price follows the company’s latest quarterly results, in which profit declined slightly despite steady growth in premium income.

In the near term, the stock may remain sensitive to earnings performance and broader market sentiment. However, SBI Life continues to maintain a strong position as a large-cap insurance player with stable fundamentals and consistent growth in its core business.

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