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SBI Term Insurance User Reviews

55 reviews Rate This
SBI Term Insurance
Highlights
Claim Settlement Ratio93.09%
Customer Care9:00 AM to 9:00 PM
Death Benefit Paid For212,57 Policies
Inception2001
Presence825 offices
Total Death Benefit Paid810.71 Crore

Term Life Insurance Premium Calculator

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Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best SBI Term Insurance Plans

1 Crore
1.5 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.51%
Starting From ₹ 682/Month
Claim Settlement
Key Features:
  • Right Green Tick Zero Cost Benefit
  • Right Green Tick Terminal Illness
  • Right Green Tick Nominee's Choice payout
  • Right Green Tick Voluntary Top Up
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹95.28%
Starting From ₹ 812/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Waiver of Premium on Disability
  • Right Green Tick Terminal Illness
  • Right Green Tick Life Stage Benefit
  • Right Green Tick Special Exit Benefit
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.39%
Starting From ₹ 771/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Terminal illness
  • Right Green Tick Special Exit - Option to get your premiums back
  • Right Green Tick Renewability Option
See More Plans
Rating of SBI
4.8
Based on
55 User reviews

  • Excellent term plan

    I have recently purchased the Smart Shield Plan by SBI. Must say that this term policy is ideal as per my needs. Also, I am thankful to InsuranceDekho for helping me with the policy issuance. 

    N
    Neeraj Kumar
    On: Jul 13, 2021

  • Policies are within price range

    I wanted a term insurance policy within a tight budget. Being recommended by a friend I came to InsuranceDekho and curated my quotes giving basic information like my age, health and lifestyle. I compared those quotes and found SBI Life Saral Jeevan Bima plan within a reasonable price range. 

    N
    Nihar Pradhan
    On: Jul 06, 2021

  • No hidden costs

    On InsuranceDekho I calculated the premium of SBI Life Saral Swadhan plan and got directed to the payment portal. I chose the mode of payment and the payable amount and realised that the website does not encourage hidden costs. I paid the exact amount shown on the screen.

    A
    Aritra Bose
    On: Jun 29, 2021

  • Policy within budget

    When I was thinking about investing in a term insurance plan, I wanted a budget-friendly policy. I came across InsuranceDekho and found policies within a broad budget range. I compared and bought SBI Life eShield plan. 

    S
    Soumi Bera
    On: Jun 23, 2021

  • Got a suitable rider

    I purchased the SBI Life Term Insurance Plan from InsuranceDekho a year ago and I wanted to modify my term plan to increase the coverage of my term plan so I visited InsuranceDekho to know about the different riders available under this plan. From the information on the website, I chose Accelerated Critical Illness Ride. 

    M
    Mukesh Yadav
    On: Invalid date

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SBI Term Insurance Contact Details

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Claim Process at SBI Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQs

  • What is a Term Insurance Plan?

    A Term Insurance plan is a pure life insurance policy. It provides financial security to your family or loved ones in case of the unfortunate demise of the policyholder. You get higher cover at a lower premium rate.

  • Do SBI Life Term Insurance plans offer Tax Exemptions?

    Yes, SBI Life Term Insurance offers tax exemptions under section 80C, section 80D, and section 10(10D) of the taxation law subject to terms and conditions.

  • What is the right time to buy a SBI Life Term Insurance plan?

    The right time to buy the SBI Life Term Insurance plan is as early as possible. With the increasing age, the higher would be the term plan premium. The minimum age you can purchase a SBI Life Term Insurance plan is 18 years.

  • What are the different factors that will affect my SBI Life Term insurance premiums?

    Your SBI Life term insurance premium amount will be based on your Gender, Age, Occupation, Pre-Existing disease, and Cover-up to which age.

  • How will my Age affect my SBI Life term insurance premium?

    Age is an important factor in deciding the premium. As the age increases, and so is the term insurance premium.

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