SBI Life Insurance is one of the top and most trusted life insurance providers in India. It was incorporated in October 2000 & started operations in March 2001.
List of Topic Covered
SBI Life Insurance Company Overview
- SBI life is serving millions of families across India with their diverse range of products.
- They always believe in the Customer-First approach and provide hassle free claim settlement experience to their users.
- They specialize in products like Life Insurance, ULIP, Online Plans, Protection Plans, Retirement Plans, and Savings Plans.
- SBI Life Insurance has 952 offices. 1,46,057 agents, 50 corporate agents, more than 29,000 bank partner branches and 114 brokers.
CEO and Contact Details of SBI Life
| Managing Director and CEO | Mr. Mahesh Kumar Sharma |
| Corporate Office Address | SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069. |
| Contact No. | Customer Service Helpline: 1800 267 9090 |
| Email ID | info@sbilife.co.in |
| Employee count | 10,000+ |
| Assets Under Management (AUM) | ₹ 2 trillion (As on FY 2021-22) |
| Max Life Website | https://www.sbilife.co.in/ |
| Max Life Twitter | https://twitter.com/sbilife |
| Max Life Facebook | https://www.facebook.com/sbilifeinsurance |
| Max Life Linkedin | https://www.linkedin.com/company/sbi-life-insurance-co–ltd-/ |
SBI Life Term Insurance Plans
- Term insurance is the simplest and purest form of life insurance.
- It ensures your family’s financial security and happiness in your absence.
- The premium of a term plan depends on many factors such as age, gender, ppt, policy term, sum assured, etc.
SBI Life has a variety of term plans based on different needs of the customers.
Lets, check the list of term insurance plans from SBI Life. Click on the plans to get the detailed review of it.
| Product Name | UIN No |
| SBI Life Arogya Shield | |
| SBI Life – eShield Next | |
| SBI Life – Saral Jeevan Bima | |
| SBI Life – Poorna Suraksha | |
| SBI Life – Smart Shield | |
| SBI Life – Smart Swadhan Plus | |
| SBI Life – Saral Swadhan+ |
Claims process of SBI Life
Claim process is a procedure through which claim is authenticated and claim amount is disbursed to the policyholder or nominee or beneficiary or appointee or assignee. SBI life makes every effort to ensure that you receive the claim amount that you or your family are entitled to, quickly and easily.
Click here to get the SBI Life claim process in detail
SBI Life Claim Settlement Ratio
Claim settlement ratio is the percentage of claims settled out of the total number of claims filed in a financial year. Higher the percentage, better is the insurer. IRDAI (Insurance regulatory and development authority of India) issues an annual report on claim settlement ratio of life insurance companies every year.
For example : Let’s suppose SBI Life has received 100 claims in a financial year and it settles 99 in the same financial year. So the claim ratio of SBI Life will be (99/100) x 100 = 99% for the same financial year.
Claim settlement ratio of last 5 years of SBI Life
| Year | Claim Ratio |
| 2020-21 | 93.09% |
| 2019-20 | 94.52% |
| 2018-19 | 95.03% |
| 2017-18 | 96.76% |
| 2016-17 | 96.69% |
SBI Life Insurance Claim Settlement Ratio Trend 2006 to 2022 >
Market share of SBI Life
It is the percentage of new business (first year + single) premium received out of the total new business premium received by all life insurance companies.
Market share of last 5 years of SBI Life
| Year | Market Share |
| 2020-21 | 7.40% |
| 2019-20 | 6.40% |
| 2018-19 | 6.41% |
| 2017-18 | 5.65% |
| 2016-17 | 5.79% |
Bonus Rates of SBI Life Plans
Every year SBI Life declares bonuses to their premier products which participate in profits.
Click here to Get Bonus Rates of All SBI Life Policies
SBI Life Branch Locator
We have made a list of SBI Life branches in top 10 cities i.e Mumbai, New Delhi, Bengaluru, Chennai, Gurgaon, Pune, Hyderabad, Ahmedabad, Kolkata and Lucknow. You will find addresses with contact details of every branch mentioned in the above cities. Click below to get the details.
Check SBI Life Branch Near Me
SBI Life Insurance FAQs
SBI Life offers a 30 days grace period for yearly,half-yearly and quarterly mode of premium and 15 days for monthly premium mode. If you pay your premium within the grace period, your policy will continue.
Mr. Mahesh Kumar Sharma is the MD and CEO of SBI Life.
SBI Life was incorporated in 2000 and they started their operations in 2001.
State Bank of India is the owner of SBI Life Insurance Co. Ltd.
SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069.
SBI Life – eShield Next, SBI Life – Saral Jeevan Bima, SBI Life – Poorna Suraksha are the term plans with SBI Life Insurance.
As per IRDAI, insurers should settle the death claim within 30 days.
SBI Life has over 22,300 branches across India.
| List of All Life Insurance Companies in India | Click Here |
| Home | Click Here |
This covers all the topics on SBI Life Insurance. Please comment if you need any further information on this.