SBI Life Insurance Company Limited
SBI Life Insurance needs no introduction. It is one of the most reliable life insurance companies in India. The company was incorporated in October 2000, and since then, it has served millions of families across the country with its varied range of products at a competitive price range. SBI Life Insurance products include Protection plans, Savings plans, Pension plans, amongst others.
The leading insurer follows a Customer-first approach and thus puts great emphasis on providing world-class services like hassle-free claim settlement and excellent digital service. With its numerous branches in India, SBI Life Insurance strives to make its products easily accessible to everyone.
Why opt for SBI Life Insurance Company?
- SBI Life Insurance policies offer comprehensive financial security to your family.
- With a healthy claim settlement ratio of 94.53% (IRDAI Annual Ratio 19-20), the company marks itself as a reliable partner to buy insurance.
- It offers flexible options to pay premiums and select different payout options.
- Its online plans are specially designed to cost lower than others.
- SBI Life Insurance plans are eligible to claim tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
Types of Life Insurance products offered by SBI Life Insurance Company
- Protection Plans – Term Insurance: SBI Life Insurance offers various non-participating, a traditional term insurance plan that provides financial security against uncertainties of life to provide financial protection against life’s uncertainties. SBI offers different non-participating, traditional income protection plans.
- Unit Linked Insurance Plans (ULIP): Unit Linked Insurance Plan offered by SBI Life is a combination of insurance and investment. These plans are linked to the market and provide life cover as well as returns on investment.
- Savings Plans: SBI Life Insurance’s savings plans provide life cover as well as a savings option. It offers protection to your family against any financial loss and helps in building funds to fulfill short and long-term goals.
- Retirement Plans: SBI Life Insurance’s retirement plans help in systematic savings for your retirement. It makes sure that you enjoy the same lifestyle post-retirement as you did in your younger years.
- Child Plans: As the name suggests, this plan helps to save money for your child’s future and gives peace of mind that your child’s dreams are financially secured.
Term Insurance offered by SBI Life Insurance
- SBI Life Smart Shield Term Plan: You can either opt for a single premium payment or regular under this plan. It offers two plans wherein the sum assured payout is made as Level Term Assurance or Increasing Term Assurance @5%.
- SBI Life eShield Term Plan: This plan comes with the inbuilt option of the accidental death benefit, and the premium payment term is regular pay.
- SBI Life Grameen: This plan is a single premium plan for below-economic line people. Its premium ranges from Rs 300 to Rs 2000, and the minimum sum assured is Rs Rs.10,000, and the maximum is Rs.50,000.
If you are looking to buy SBI Life Insurance policies, head to iiflinsurance.com and know more about the insurer.