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SBI User Reviews

13 reviews Rate This
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
Rating of SBI
4.5
Based on
13 User reviews
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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. 

Nihar Pradhan
On: Jul 06, 2021 | Views

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SBI Life Term Insurance Contact Details

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Claim Process at SBI Life 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.

FAQ About SBI Life Term Insurance

  • 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.