FAQ - SBI Life Insurance Company

SBI Life Smart Wealth Builder is a Unit Linked Insurance Plan under the non-participating category. Since the premium is invested in capital market, the returns are higher and hence the plan is called Smart Wealth Builder. The plan comes with the following features:

Follow these simple steps to open Sukanya Samriddhi Account in SBI:

The first ever premium paid receipt for SBI Life Insurance will be received with the policy kit right when the policy is dispatched.

SBI Life Suraksha Plus Plan is a non-linked and non-participating group term plan.

Yes, there is a SBI scheme for girl child that specifically focuses on protecting the future of the girl child in the family. The plan is a part of government backed campaign “Beti Bachao, Beti Padhao” and the name of the plan is Sukanya Samriddhi Yojana.

SBI’s Senior Citizens Savings Scheme is a safe investment option for retired taxpayers looking to deposit their money in government-backed schemes. The interest on deposits made under SBI’s Senior Citizens Savings Scheme stands at 8.60% p.a. To open an account, visit any deposit office and fill up Form A. One needs to provide age proof and deposit the sum in multiple of one thousand rupees.

SBI Life Shubh Nivesh Plan is a non linked profit endowment plan with an option of whole life cover. It is an excellent insurance cum investment solution that allows the insured individual to save regularly, while also getting maturity benefits. SBI Life Shubh Nivesh plan comes with the option of deferred maturity benefit, which can be taken for five, ten, fifteen or twenty years after maturity.

SBI eShield is a pure Term Insurance Plan which can be bought online. It provides financial security to the family of the policyholder in the event of death. Based on the policyholder’s needs, s/he can choose any of the available 4 variants under the plan. The variants are discussed below.

The premium receipts are important and must be procured so that you can claim tax deductions. While the 1^st premium receipt will be received with your policy kit, the subsequent SBI Life Insurance Online Payment receipts can be availed by taking out a print out from the online acknowledgement of the premiums paid.

SBI Life Poorna Suraksha is a non-linked term plan that comes with an inbuilt critical illness cover. It offers coverage against death and critical illnesses.