Is SBI Life Insurance Reliable? Today as everybody knows life insurance policies and what security benefits it adds to your life. Many insurance companies are offering various policies to people in the Insurance industry. People are confused about which to choose and how the promises made in the policy were working.
SBI Life Insurance Company, established in 2001, is one of the best players among the Insurance sector today. The SBI insurance company is a joint-venture company by two major financial banking giants namely, SBI and BNP Paribas Cardiff. SBI Life Insurance won the ‘Life Insurance Company of the Year’ and ‘Bancassurance Leader Life Insurance (Large Category)’ awards in 2016. With these points, people can believe SBI Life’s term insurance covers are reliable.
What Benefits an SBI Life Insurance Offers?
SBI offers several services to meet the various needs of Indians. SBI is a trustworthy company to choose as their life insurance covers the following benefits list.
Features and Benefits of Buying SBI Life Insurance Plans
- Adverse Financial Protection – Ensures complete financial protection to the entire family.
- Easy Claims Settlement – With a vast network of about 908 branches over all parts of India, it provides the best claim settlement support.
- Flexibility Payment – Users can have flexibility in premium and payout options.
- Lower Online Plans – Taking into cost factor, SBI Life Insurance is specifically designed with online plans that cost lower premiums.
- Tax-Free – People can avail tax benefits under the Income Tax Act, 1961
- Free-Life Time Coverage – Policies ensure lifetime coverage benefits.
- Long-term Savings – Policies help to store lump sum of amount for long-term savings.
SBI offers the core insurance categories for its users:
- Individual Plans – These plans are designed by SBI keeping in mind the individual customers.
- Group Plans – These plans are designed to offer a solution to corporate customers.
- Online Plans – SBI Life Insurance is also promoting the online platform and rewarding the customers who choose their online plans.
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Types of SBI Life Plan:
SBI Life insurance offers a range of life insurance products with variants to provide financial protection against life’s uncertainties. Plans offered:
- SBI Life Unit Linked Insurance Plans (ULIP)
- SBI Life Protection (Term) Insurance
- SBI Life Savings Plans
- SBI Life Investment Plans
- SBI Life Retirement Plans
- SBI Life Child Plans
How to Register?
Important documents required to buy any SBI Life Insurance Policy includes:
Age Proof, Address Proof, Identity Proof, Income Proof certificates.
When to Register?
You need to start early to enjoy the full benefits of the policy. When you are young and healthy the cost of the life insurance policies comes at a reasonable amount. When you are young you can use your age as an advantage in wealth creation and you can have a disciplined saving habit opting by taking a Life Insurance Policy keeping your financial goals and risk appetite in mind. You can enjoy Tax benefits with your policy payments and also secure the life of your dependents if something wrong happens to you.
Hey, this is Johny Sehgal. I am the owner and caretaker at Finance Jungle. I completed my education in BSC and now heading towards the digital marketing industry. I usually have interests in reading, playing games and watching movies. I also love to write content based on quality information. The main motive of mine is to provide the top and best quality information to my readers. Finance Jungle is the blog for the same.