SBI Life Insurance is a joint venture between state bank of India and BNP Paribas insurance. It is the biggest private insurance company in India with a market share of around 6.1%. For those, who want to play safe with their life insurance plans, SBI Life Insurance is the best Life Insurance plan to have.

Based on the claim history, it can be said that, whatever the provider assures as a sum at the time of enrollment, it settles the exact amount. Settling the sum is easier for the provider as the insurance company has a backup of State Bank of India. Therefore, it is secured and safe to have a Life insurance plan with SBI at an affordable pricing structure.

What Is The Role Of SBI Life Insurance?

Like any other insurance providers, any best SBI Life insurance plan provides a financial assistance in the event of your unfortunate demise of the policyholder. An amount assured at the time of enrollment paid out to the dependents or the nominee upon the insurance claim. This payout helps your family to meet their immediate and recurring expenses such as children’s education, marriage, re-payment of debts/loans, and other family expenses.

SBI Life Insurance Company offers a wide variety of plans such as such as unit-linked plans, child plans, protection plans, retirement plans, and savings plans.  It offers several life insurances plans online and offline with a facility to track your policy account, payment of premiums, the revival of lapsed policies, SMS based services, and generation of online premium receipts. The life insurance plans come with three main features.

  • High Claim settlement ratio – High claim settlement ratios indicate that the company is treating well its customers in terms of claim settlement. SBI Life Insurance has a good claim settlement ratio to ensure that your plan and premium paid are safe and secure with the company.
  • Coverages up to crores of rupees –  If any person wants to leave a huge amount of money for its family when he/she will be around, The Life insurance plans offer them a wide variety of options to choose and enroll for the rest of their life to make sure that their family is financially stable after their lives.
  • 3-way grievance redressal process – When there exists a product and customers use it, it is not necessarily true that the customer would like the product. There might be a situation where the customer would like to file a complaint or bring any abnormal situation to the insurance provider’s attention. The SBI Life insurance company offers its customers to lodge the complaints through emails, stopping by any of the offices or by calling the customer care.

Best Deals on SBI Life Insurance

You will get best deals of Life Insurance plans from SBI Life Insurance. Here is the list of some of the best plan.

SBI Life e-Shield This plan is an individual, non-linked, non-participating term plan designed for customers, who are looking for optimum financial protection at affordable premiums. The plan offers an increase in coverage, rewards for maintaining a healthy lifestyle, accidental death benefits. However, there are no coverages for someone who survives the policy term.

SBI Life Smart Money Planner- It is an individual, non-linked, with profit life insurance plan that ensures the policyholders receive enough cash at a regular interval. The policy provides you with financial support to achieve your short-term and long-term goal in life. At the same time, you will receive life cover without having to pay premiums for the entire policy term. The policy offers death benefits, maturity benefits and survival benefits to its customers.

SBI Life CSC Saral Sanchay – It is an individual, non-linked, non-participating insurance plan available to individuals aged between 18 and 60 years of age. The policy is available to purchase from an authorized CSC under the e-government plan.

SBI Life Smart Power Insurance – It is a non-participating unit-linked insurance, which takes care of your investments needs, at the same time acts as a Life Insurance plan. The product is available at an affordable premium and offers a significant amount of flexibility, ensuring a certain level of liquidity available for your investments.

There are a few other plans meeting different requirements and demands from the customers. When you have an option to stay secured with the SBI Life Insurance plans, why go for any other insurance plans. Choose the insurance provider and buy an insurance plan at an affordable price.