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SBI Term Insurance Benefits

51 reviews Rate This
Claim Settlement Ratio93.09%
Customer Care9:00 AM to 9:00 PM
Death Benefit Paid For212,57 Policies
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

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
2 Crore
    Tax Free
    1 Cr
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

Benefits of SBI Term Insurance

SBI Term Insurance plans are trusted by more than 4 million customers. There are many reasons why customers consider SBI Life Insurance as one of the best life insurance companies in India. Read on to find out the benefits of purchasing term insurance plans from SBI Life.

  • Affordable Products:

SBI Life Term Plans are available at affordable premiums. You can secure the future of your loved ones financially without disturbing your existing financial needs and goals. Additionally, SBI Life offers numerous term insurance plans. You can compare different plans and buy the one that provides maximum coverage at an affordable premium.

  • Easy To Purchase:

SBI Life Insurance allows policyholders to purchase term insurance plans online with ease. Anyone who wants to secure the future of their loved ones can either visit the official website of InsuranceDekho or SBI Life to compare different term plans and buy the best one online.

  • Extensive Coverage:

The policyholders of SBI Life Insurance enjoy extensive protection and peace of mind during unfortunate events. This means you can enhance the coverage of your SBI Life Term Insurance Plan by purchasing riders. You may have to pay an additional premium to include riders with your standard term insurance plan.

  • Unique Plans:

SBI Life Term Plans are unique and designed specially to meet the unique needs of individuals. For instance, SBI Life Arogya Shield Plan provide both health and life coverage under a single plan. Therefore, the policyholders can claim their policy in case of medical emergencies.

  • Claim Settlement Ratio:

The claim settlement ratio is the ratio of total claims settled in a particular financial year. SBI Life Insurance has a claim settlement ratio of 97.5%, making it one of the best insurance companies in India.

SBI Term Insurance User Reviews

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What users are saying
  • All
  • I was impressed with the comprehensive coverage options available through InsuranceDekho's SBI Life Term Insur...

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    By Chetna Adhikari
    On: Sep 27, 2023
  • InsuranceDekho’s customer support team is undoubtedly knowledgeable and they are always ready to assist ...

    Read More
    By Lovely Sharma
    On: Sep 14, 2023
  • InsuranceDekho keeps policyholders informed with regular updates on policy performance and account statements....

    Read More
    By Badal Bahadur
    On: Sep 11, 2023
  • I wanted to purchase a good-term insurance plan without exceeding my set budget. While looking for one I lande...

    Read More
    By Nitu Srivastav
    On: Sep 01, 2023
  • It is very easy to compare term insurance plans on InsuranceDekho’s website using the online term insura...

    Read More
    By Poonam Arora
    On: Aug 28, 2023
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Why to Buy Term Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers

Term Insurance News

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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FAQ About SBI 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.

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