Getting life insurance from SBI Life Insurance Company Limited in India is not only extremely easy but it is also the best way to secure your family’s safety, financial stability and future. If you are looking to get insurance from SBI Life Insurance Company Limited, then this guide is for you.
Importance of Life Insurance
Every person bears many financial responsibilities in his life. In such a situation, if something untoward happens to the earning member of the family, then life insurance makes the family financially strong. Crores of people in India take life insurance to protect their savings, children’s education, retirement or family from unexpected loss.
Major Life Insurance Plans of SBI Life Insurance
SBI Life offers you many plans, from which you can buy policies according to the needs of different people, age, profession, family responsibilities, investment capacity, etc.
SBI Life – Saral Jeevan Bima
- This is a standard term plan, which provides high coverage at a minimum premium.
- The family gets financial protection in case of accidental death.
- The medical examination is simple and the process is quick.
SBI Life – eShield Next
- Suitable for new investors.
- Lifetime protection according to your changing responsibilities.
- You can buy digitally and the entire control is in your hands.
SBI Life – eWealth Insurance
- This is a ULIP plan.
- Dual benefits of investment and insurance.
- Life insurance with market-linked returns.
SBI Life – Smart Platinum Plus and Annuity Plus
- Regular income for retirement and future.
- For a happy and stress-free old age.
SBI Life – Smart Champ Insurance
- Plan for children’s future.
- Benefits at the time of education and other needs.
Online process to buy life insurance
SBI Life has provided unmatched online facility on its website and digital platforms, allowing customers to buy insurance from the comfort of their homes.
Visit the website:
- Visit www.sbilife.co.in, YONO app or other relevant platforms.
- Choose the ‘View Plans’, ‘Buy Online’ or ‘Get Quotations’ option.
Choose the plan:
- Choose the plan as per your age, understanding, family needs and future goals.
- Read the plan details, premium, benefits and terms carefully.
Fill in personal details:
- Name, date of birth, contact details, address, income – submit all mandatory information.
Upload documents:
- Identity proof (Aadhaar/PAN/Voter ID), address proof, passport size photo – upload digitally.
Calculate the premium:
- Use the calculator provided on the website.
- Choose the required cover assurance amount.
Health Enquiries/Medical:
- Some plans require medical details or physical examination.
- Premium Payment:
- Make convenient payments through Net Banking, Cards, UPI, IMPS or Wallets.
After Policy Issuance:
- You will receive the policy documents by email/post.
- Get information on policy status, claims etc. online.
Process to get insurance from branch (offline)
- Contact the nearest SBI Life branch/agent.
- Get detailed information about the plans.
- Fill the form, submit documents.
- Choose the plan as advised, as per your eligibility and requirement.
- Pay the premium by cash/cheque/digital mode.
- You will receive the policy documents from the branch or by post.
Required Documents
- Identity Proof: Aadhaar, PAN, Voter ID Card.
- Address Proof: Electricity Bill, Ration Card, Passport.
- Income Proof: Salary Slip, Bank Statement, Income Tax Return.
- Passport Photo.
- Bank Statement – For payment of interest or claim.
Benefits of taking insurance
Accident protection:
- On your demise, the family gets a large sum of money, which keeps their financial position strong.
Savings and Investments:
- Dual benefits of savings or market-linked returns in an endowment, ULIP or savings plan.
Child’s education and future planning:
- Child plan provides timely funds for higher education, marriage, etc.
Retirement funds:
- Annuity and guaranteed income plan provide regular income in old age.
Tax exemption benefits:
- Claim will be available under Income Tax section 80C, 10(10D) etc.
Possible Precautions and Advice
- Never provide incorrect information or fake documents.
- Pay premium as per all terms and conditions, exclusions, grace period, pay.
- Check policy status and updates regularly.
- Inform your family about claim process, documents, emergency contact etc.
Additional Benefits of SBI Life
- Hundreds of branches across India.
- Crores of active policyholders.
- High success rate in policy maturity and claims.
- Digital and mobile services, WhatsApp support.
- Centralised documentation and faster claim settlement.
Conclusion
Getting life insurance from SBI Life Insurance is not only easy, but in today’s digital age, you can move towards a secure future, online or offline, at your convenience. Choose the right life insurance for your family’s happiness and security and rest assured.