SBI Life vs TATA AIA Life Insurance

Smart Shield Plus
Premium starts ₹1,201/month
Max Coverage Upto
79 yrs
Claim Settlement Ratio
99.4%
Average Claim Trend
98.55%
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Sampoorna Raksha Promise
Premium starts ₹982/month
Max Coverage Upto
100 yrs
Claim Settlement Ratio
99.4%
Average Claim Trend
99.18%
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Compare SBI Life and Tata AIA Life Insurance to evaluate how each insurer performs in providing the best term insurance plans in India in 2026. This comparison is made by considering factors such as claim settlement ratios, solvency ratios, premium rates, personal insurance needs, and other requirements. 

Which is Better - SBI Life or Tata AIA Life?

Both insurers are evaluated by the Insurance Regulatory and Development Authority of India (IRDAI) and provide reliable services. The choice of plan is dependent on the financial plans and preferences of the buyer. 

  • Choose SBI Life if you want plans with easy-to-understand protection options, multiple term plan variants, and policy features that can be changed to fit people of different income levels and stages of life.

  • Choose Tata AIA Life due to its financial strength, healthy lifestyle plans (Vitality Program), fast settlement of claims within 4 hours, as well as sound support in settling insurance claims. 

Both insurers cater to different protection priorities. SBI Life is a good fit for people who want reliable coverage from a well-known insurer that is easy to get. And Tata AIA is a good choice for people who want term plans with lots of features and the ability to customise them.

SBI Life vs Tata AIA - Comparison Table

The table below shows the differences between Life and Tata AIA Life Insurance in terms of important policy features and who can get them.

Features SBI Life Insurance Tata AIA Life Insurance
Claim Settlement Ratio (FY 2024–25) 98.83% 99.41%
Solvency Ratio ~2.1 ~1.93
Entry Age (Term Plans) 18 – 65 years 18 – 65 years
Maturity Age Up to 100 years Up to 100 years
Riders Available Accidental Death Benefit (AD Benefit)
Accidental Partial Permanent Disability Benefit
Accidental Death Benefit
Accidental Death & Dismemberment Rider
Critical Illness Rider
Premium Waiver
Terminal Illness Benefit 
Premium Payment Options Yearly / Half Yearly / Monthly / Quarterly  Yearly / Half Yearly / Monthly / Quarterly 
Online Purchase Yes Yes

Note: Information based on publicly available insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

SBI Life Insurance and Tata AIA Life Insurance offer these types of term insurance plans: 

SBI Life Insurance Plans

  • SBI Life Saral Jeevan Bima: Designed for people who are on a tight budget, are buying their first home, or are in a low-income group. 

  • SBI Life Smart Shield Plus: Ideal for married individuals who want spouse cover and for those seeking a pure term plan with high life coverage and flexible payout options to keep the family safe. 

  • SBI Life Smart Shield Premier: An upgraded term plan better suited for those with high net-worth, young professionals, and breadwinners who want full protection with a wide range of benefits and riders.

  • SBI Life eShield Insta: It suits technical professionals or someone who wants a better online interface for their policy. Young professionals or millennials can also buy this to level up their lifestyle.

Tata AIA Life Insurance Plans

Premium Comparison (Illustrative Example)

As per the current online term insurance calculators, the following comparison presents an indicative view of monthly premiums for the following sample customer profile:

  • Age: 23 years

  • Gender: Male

  • Smoker: Yes

  • Education: Graduate

  • Occupation Type: Salaried

  • Sum Assured: ₹1 Crore

  • Annual income: ₹8 lakh to ₹10 lakh

  • Policy Term: 60 years (up to age 85)

Insurer Approx. Monthly Premium
SBI Life ₹671
Tata AIA Life ₹755

*The real premium varies according to age, health status, policy duration, and chosen riders.

Information sourced from Policybazaar’s website 

Claim Settlement Analysis

The claim settlement ratio is an important metric that represents the percentage of insurance claims settled during a given financial year.

  • SBI Life Insurance has a steady growth of settling claims, with a recent CSR of 98.34%. This shows that the insurance company is reliable. 

  • Tata AIA Life Insurance had a higher claim efficiency and a steady CSR of 99.41%. This shows that the company is committed to quickly settling claims.

Who Should Pick Which Insurance Company?

The following are some tips that you can follow to choose the best insurance company according to your needs: 

Choose SBI Life if:

  • You need an insurance plan from a well-known company

  • You want a term life insurance policy that offers life cover for all life stages.

  • You are seeking simple term assurance with return of premium options..

Choose Tata AIA Life If:

  • You want plans that last a long time and give you a lot of options and benefits.

  • You want solutions that are well-organised and come with extra features and long-lasting protection.

  • You want to add more wellness options to your basic coverage so that it covers more.

Final Recommendation

Tata AIA Life and SBI Life are considered to be two of the most popular term life insurance options. SBI Life is already a popular name in the market, and they have a number of varied products to offer. They provide the best features to their customers, like the return of premium. However, Tata AIA Life is quite different from the other life insurance options because its policies provide various options for riders. 

exclusive-benefit

˜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 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

Rs. 400/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. 400/month (Rs.13/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.

+Rs. 230 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. 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. 12/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. 497/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. 487/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. 626/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. 905/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. ₹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

+Rs. 1,267/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.

*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. 447/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.679/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. 910/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. 1,924month 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.

Women

+Rs. 400/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, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

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.

© Copyright 2008-2026 policybazaar.com. All Rights Reserved

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.


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