SBI Life Insurance company is a joint venture between one of the largest banks in the country, State Bank of India and BNP Paribas Cardif. While SBI holds 70.1% stake, BNP Paribas Cardif’s share is 26%. The remaining share is divided between Value Line Pte. Ltd. And MacRitchie Investments Pte. Ltd. equally at 1.95% each. This joint venture has excelled in providing insurance and investment solutions all across the country and presents multiple products in categories such as life insurance, pension, child plans, investments and savings. The sheer variety at disposal combined with extensive reach of SBI makes the company a formidable force in the insurance market.
There are four different term plans being offered by the company that cater to different needs and requirements. From being economical to offering additional riders for wholesome insurance coverage, SBI Life Insurance has different plans for different people and to fit into their financial strategies.
Minimum Entry Age | 18-60 years |
Max Maturity Age | 65 years |
Min-Max Policy Term | 5 years-30 years |
Sum Assured | Min: Rs. 25 lakhs | Max: No limit |
Premium Amount | Min: Regular Pay- Rs. 5000; Limited Pay- Rs. 15,000 | Max: Based on coverage |
Premium Paying Term | : Equal to Policy Term or Single Pay |
Premium Paying Frequency | Single, or Yearly, half-yearly, quarterly or monthly |
Min-Max Entry Age | 18-60 years |
Max Maturity Age | 65 years |
Min-Max Policy Term | Min-Max Policy Term |
Sum Assured | Min: Rs. 7.5 lakhs | Max: Rs. 25 lakhs |
Premium Amount | Min: Regular Pay- Rs. 2000; Limited Pay- Rs. 10,000 | Max: Based on coverage |
Premium Paying Term | Equal to Policy Term or Single Pay |
Premium Paying Frequency | : Single, or Yearly, half-yearly, quarterly or monthly |
Min-Max Entry Age | 18-65 years |
Max Maturity Age | 70 years |
Min-Max Policy Term | 5 years-30 years |
Sum Assured | Min: Rs. 20 lakhs | Max: No limit |
Premium Amount | Min: Rs. 3500 | Max: Based on coverage |
Premium Paying Term | Equal to Policy Term |
Premium Paying Frequency | : Yearly |
Min-Max Entry Age | 18-50 years |
Policy Term | 5 years |
Sum Assured | Min: Rs. 10,000 | Max: Rs. 50,000 |
Premium Amount | Min: Rs. 3500 | Max: Based on coverage |
Premium Paying Term | Single Pay |
Premium Paying Frequency | Single Pay |