SBI Life Insurance Claim Process

Let’s discuss the SBI Life Insurance claim process and the documents required:

SBI Life Claim Settlement Process 

SBI Life Insurance plans come with a quick and simple claim settlement process. Insurer allows you to settle a claim offline and online. SBI Life Insurance ensures that the claim amount is received by the eligible person/family, comfortably and easily. The company has acheived a claim settlement ratio of 93.09% in the Financial year 2020-21, indicating a fast settlement of death claims. SBI Life claim process follows 3 quick steps for the hassle-free experience of a customer. 

How to File SBI Life Insurance Death Claim 

SBI Life claim process comprises of 3 easy steps which are: 

1. Step 1: Claim Intimation 

   In order to intimate the insurer about the claim, the life assured can file the claim via online on the official website of the SBI Life Insurance, or via offline mode i.e., by submitting the completely filled claim application form along with required documents at the SBI’s nearest office branch or life assured can mail the form along with requested documents at the SBI’s official e-mail ID. 

2. Step2: Documents Submission 

   The life assured is required to submit the requested documents for each type of claim at the online portal or the nearest SBI branch office. Moreover, they may also request for other documents for checking the claim admissibility. In such cases, you will have to submit those documents on time. 

3. Claim Decision and Settlement 

   All the claims will be examined on the basis of claim documents that you or your family will submit and the details that the insured provided to the insurer in the proposal form. Once a claim settlement and a decision is taken, the amount of the claim will be released as per the policy’s T&Cs. The company claim assistance team will guide you throughout the SBI Life Insurance death claim process in making you understand your requirements and also helps in faster completion of documents submission. You can reach out to info[at]sbilife.co.in for any further assistance with the SBI Life claim settlement process. 

List of Documents Required for Completing SBI Life Insurance Claim Process 

1. Compulsory Documents 

   • Claim Application  

   • Original documents of policy 

   • Death certificate (attested/original) issued by a local authority 

   • Present address proof of claimant 

   • Photo ID copy of Claimant 

   • Mandate form 

   • Bank passbook copy 

   • Cancelled cheque having pre-printed bank account number and name

2. Additional Required Documents 

   • Certificate by Medical attendant 

   • Certificate by the hospital where life assured gets treated  

   • FIR/Panchanama/Post-mortem report copy 

   • Copy of Police Final Report/Inquest Report copy/Chemical viscera examination report/Verdict of magistrate 

If TDS is valid and the buyer is living in a republic where DTAA is valid, the following additional documents will be submitted by the buyer to opt for DTAA advantage for tax exemption: 

• Form 10F 

• Certificate of Tax Residency 

• Proof of Residence give out by the Government of the country in which the buyer is residing 

Important Points to Remember While completing SBI Life Insurance Death Claim Process 

• The chances of investigation are less if the insurance policy is more than 3 years old 

• A death claim should be intimated as early as possible after the occurrence of unfortunate even to the life assured 

• Make sure to submit the documents required to file a claim on time for a speedy decision