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SBI Term Insurance Claim Settlement

51 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

50L
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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
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.51%
Starting From ₹ 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹97.84%
Starting From ₹ 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.4%
Starting From ₹ 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
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.

SBI Term Insurance User Reviews

4.7
Rating based on
51 User reviews
Write your review
What users are saying
  • All
  • Comprehensive Coverage

    I was impressed with the comprehensive coverage options available through InsuranceDekho's SBI Life Term Insur...

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    C
    SBI
    By Chetna Adhikari
    On: Sep 27, 2023
  • Outstanding Customer Support

    InsuranceDekho’s customer support team is undoubtedly knowledgeable and they are always ready to assist ...

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    L
    SBI
    By Lovely Sharma
    On: Sep 14, 2023
  • Regular Policy Updates

    InsuranceDekho keeps policyholders informed with regular updates on policy performance and account statements....

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    B
    SBI
    By Badal Bahadur
    On: Sep 11, 2023
  • Must-buy plan

    I wanted to purchase a good-term insurance plan without exceeding my set budget. While looking for one I lande...

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    N
    SBI
    By Nitu Srivastav
    On: Sep 01, 2023
  • Smooth comparisons

    It is very easy to compare term insurance plans on InsuranceDekho’s website using the online term insura...

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    P
    SBI
    By Poonam Arora
    On: Aug 28, 2023
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  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers

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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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