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SBI Term Insurance Claim Settlement

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

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Final Plan Eligibility will depend on some other factors including tobacco habits, education, occupation and income of the life assured / proposer

Best SBI Term Insurance Plans

1 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.7%
Starting From ₹ 678/Month
Key Features:
  • Right Green Tick Cover Continuance Benefit
  • Right Green Tick Terminal Illness
  • Right Green Tick Insta-Payment on Claim Intimation
  • Right Green Tick 2x Premium Back
  • Right Green Tick Tax Benefits
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.2%
Starting From ₹ 730/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 ₹99.4%
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

Claim Settlement of SBI Term Insurance

SBI Life Term insurance plans come with a simple and quick claim settlement process. SBI Life insurance company allows you to settle a claim both online and offline. SBI Life Insurance makes every effort to ensure that you receive the claim amount that you or your family are entitled to, comfortably and easily. It featured an impressive claim settlement ratio of 94.52% in FY 2019-20.

  • How To Make Claim

    How To Make SBI Term Insurance Claim - Online?

    Following are the steps to make a claim for SBI Life Term Insurance Policy:

    Step 1: Claim Intimation

    The first step is to intimate your claim. You can report your claim by visiting the claims and maturity section of the SBI Life Insurance website, you can also intimate your claim by submitting the filled claim form along with the required documents at your nearest SBI Life branch. You can also intimate your claim via email at claims@sbilife.co.in

    Step 2: Document Submission

    After reporting your claim, the mandated documents are to be submitted via sending the SBI life insurance email at claims@sbilife.co.in. You can submit your documents by visiting your nearest SBI Life branch.

    Step 3: Decision and Settlement

    All claims will be assessed based on the claim documents that you or your family will submit and the information that the policyholder provided in the proposal form. Once a claim decision is taken, the claim amount will be released as per the terms and conditions of the policy document. For any further help with the claim settlement process, you can mail SBI Life at - info@sbilife.co.in

    How To Make SBI Term Insurance Claim - Offline?

    SBI Life Term Insurance plan claims can be lodged by calling their customer care helpline number at 1800 267 9090 or by visiting nearest SBI Life or SBI Bank branch offices. 

  • Documents Required

    Documents Required To Make SBI Term Insurance Claim 

    The documents which are required at the time of settling a term insurance claim with SBI Life Insurance-

    For Death Claim: The following documents are required to intimate SBI Life Term insurance claim:

    • Claim Form
    • Original Policy Document
    • Original or Attested Death Certificate (issued by the local authority)
    • Claimant’s current address proof
    • Claimant’s photo ID proof
    • Claimant’s bank statement or Cancelled Cheque with printed Name and printed Bank account number

    Other Additional Documents: The following documents are required to intimate a claim for a natural death or an accidental/unnatural death:

    • Medical certificate
    • Hospital treatment certificate
    • Employer’s certificate (for salaried individuals)
    • Copy of Panchnama Report/FIR/Post Mortem Report
    • Copy of Inquest Report/Police Final Report.

User Reviews

4.8
Rating based on
55 User reviews
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What users are saying
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  • A Delightful Experience

    I recently had the pleasure of purchasing the SBI Term Insurance plan from InsuranceDekho, and the efficiency of their service truly impressed me. From submitting my application to receiving the policy document, everything was handled with great speed. Highly Recommended!!

    Read More

    A
    SBI
    By Anshul Mishra
    On: Feb 28, 2024
  • Quick Process

    Purchasing a Term insurance plan from InsuranceDekho was very easy and comfortable. My insurance purchasing experience is excellent with the company. I liked the dedication of the customer care team, they resolved all my queries quickly. Thanks to the counselors for suggesting the SBI Term Insurance.

    Read More

    R
    SBI
    By Rekha Mishra
    On: Feb 20, 2024
  • Instant Updates

    During the entire process of buying the SBI term life insurance plan, I got instant updates. As I completed every step, I was notified about that quickly. I even got updates about the successful buying of the SBI term life insurance plan on my email ID.

    Read More

    V
    SBI
    By Vivek Sharma
    On: Dec 20, 2023
  • Flexible Premium Payment Optio...

    InsuranceDekho offered flexible premium payment options for my SBI Life Term Insurance- eShield Policy. The ability to choose a payment plan that aligned with my financial preferences added a layer of convenience.

    Read More

    M
    SBI
    By Monty Sahay
    On: Nov 22, 2023
  • Comprehensive Coverage

    I was impressed with the comprehensive coverage options available through InsuranceDekho's SBI Life Term Insurance Policy. It truly covers all aspects of life.

    Read More

    C
    SBI
    By Chetna Adhikari
    On: Sep 27, 2023
View All SBI Term Insurance Reviews
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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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