Prices Increasing soon Prices Increasing Soon

SBI Life Insurance Policy Details

SBI life insurance company is an Indian insurance provider offering life insurance plans for people from all walks of life. Their comprehensive life insurance plans can be used to protect the financial future of your loved ones, create wealth over time, and save on taxes. Let us see the SBI life insurance policy details that you need to know before purchasing a life insurance policy from SBI. 

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Benefits of SBI Life Insurance Plans

There are various ways in which you can benefit from an SBI life insurance plan. Let s take a look at some of these benefits:

  • Secure Future

    You can secure your family’s future with a life insurance policy as the plan will provide your family with a death benefit in case of your untimely death within the policy term.

  • Create Wealth

    You can create a corpus in the long run with the investment portion of the life insurance plans offered by the SBI life insurance company.

  • Tax Benefits

    You can save up to Rs. 1.5 Lacs on the premiums you pay for your SBI life insurance plans under section 80C and receive the insurance payout tax-free under section 10(10D).

one crore term plan

Secure Your Family Future Today


Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

What Are The SBI Life Insurance Policy Details?

You can access SBI life insurance policy details online and offline. Here is a list of all the SBI life insurance policy details you need to know before purchasing a life insurance plan from SBI.

  • Free Look Period

    SBI life insurance plans offer a free look period of 15 days in case of offline policies and 30 days in case of online policies, during which you can go through the policy documents and return/cancel the policy if you are unsatisfied with the policy T&Cs.

  • Add-On Riders

    You can include various riders in your base plan to increase the coverage of the plan. The available riders are critical illness benefit rider, accidental death benefit rider, permanent or partial disability benefit rider, income replacement benefit rider, and waiver of premiums rider.

  • Premium Payment Tenure

    Various SBI life insurance plans offer the customers the option to choose a premium payment term that is payable once i.e., single premium, payable throughout the policy term i.e., regular premiums, or payable for a limited amount of time i.e., limited premium.

  • Premium Payment Frequency

    You can also choose to pay your premiums on the frequency best suitable for you. You can pay the premiums on a monthly, quarterly, bi-annual, or annual basis.

  • Grace Period

    The grace period is the additional period offered after the end of the premium due date. Most insurers offer a grace period of 15 days on monthly premiums and 30 days for all the other premium frequencies available.

  • Policy Lapse:

    In case you haven't paid the premium for your policy even within the grace period your life insurance policy will lapse. This is only applicable in cases of limited and regular premium policies.

  • Policy Revival:

    SBI life insurance allows its customers to receive its lapsed policy for a period of two years after the end of the last grace period. If the policyholder does not revive their lapsed policy during the revival period, the policy will be canceled and no benefits will be payable.

  • Reduced Paid-up:

    In the reduced paid-up option of the life insurance plan, your plan’s death benefit will be reduced as per the premiums you have already paid toward keeping the policy active. This way you won't have to pay any additional premiums and still be covered under the policy benefits.

How To Buy SBI Life Insurance Plans?

You can follow the steps below to purchase the SBI life insurance plan most suitable for you:

  • Step 1: Go to the company’s life insurance page

  • Step 2: Fill in the required details like name, gender, phone number, and email ID

  • Step 3: Click on ‘View Plans’ to see the available plans

  • Step 4: Submit the details about your smoking habits, educational background, occupation type, and annual income

  • Step 5: Select the most suitable plan and proceed to pay

Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
24 Apr 2024

Most Common Life Insurance Frauds in India

Life insurance fraud is a financial crime that can be committed

Read more
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High...

The best life insurance policy in India is a type of life

Read more
15 Dec 2021

Life Insurance for Parents in India

With the increase in the average life expectancy rate, the older population in India is on the rise. Most of the

Read more
08 Jun 2022

Life Insurance for NRI

Going beyond geographical boundaries to study or pursue a career abroad is a common aspiration for many

Read more
14 Apr 2014

Life Insurance Quotes

Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you

Read more
26 Dec 2022

Canara Guaranteed Fortune Plan

Canara HSBC life insurance company introduces a guaranteed fortune plan that provides assured benefits to life

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best decision I have ever made. I feel so good knowing that

Read more
Need Help? Request Callback
View Plans
Download the Policybazaar app
to manage all your insurance needs.