SBI Life Insurance Company Limited[3] is an Indian life insurance company which was started as a joint venture between State Bank of India (SBI) and French financial institution BNP Paribas Cardif. SBI has a 55.50% stake in the company and BNP Paribas Cardif owns a 0.22% stake. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding a 1.95% stake each while the remaining 12% is free float stake with public investors.It has Assets under management(AuM) worth ₹352,422 crore (US$42 billion) and a Gross Written Premium(GWP) of ₹67,320 crore (US$8.1 billion) as of March 2023.[2] SBI Life has an authorized capital of ₹20 billion (US$240 million) and a paid up capital of ₹10 billion (US$120 million).
SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of Rs. 20.0 billion and a paid-up capital of Rs. 10.0 billion. The AuM is Rs. 4,147.7 billion. For more information, please visit our website-www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn. (Numbers & data mentioned above are for the period ended June 30, 2024)
SBI Life has a comprehensive portfolio of insurance products to meet the individual needs of a rather large customer base. Following are the plans offered by the insurance company: Savings Plans Protection Plans Child Plans Money Back Plans Online Plans Retirement Plans
SBI Life – Saral Swadhan+ Fixed life cover is provided throughout the term of the policy and maturity benefits are guranteed. o Entry Age: 18 years o Annual Premium: Rs.1,500 – Rs.5,000 SBI Life – Saral Swadhan Plus Protection is provided if a nominal fee is paid. Individuals have the option to get the premium back. o Entry Age: 18 years o Annual Premium: Rs.2,300 onwards
A few plans that are offered under the SBI Life Insurance Protection Plan are mentioned below - SBI Life – Grameen Bima Financial security is provided for your family under the plan. o Entry Age: 18 years o Single Premium Range: Rs.300 - Rs.2,000 SBI Life – Smart Shield A term plan that offers financial protection for your family. o Entry Age: 18 years o Single Premium Range: Rs.3,000 onwards SBI Life – Sampoorn Cancer Suraksha Financial protection is provided for cancer treatments. o Entry Age: 6 years o Single Premium Range: Rs.600 onward
SBI Life – Retire Smart Plus Under the plan, corpus can be built. o Entry age is 20 years. o The annual premium starts from Rs.30,000. SBI – Retire Smart Guaranteed corpus is provided under the plan. o Entry age is 20 years. o The annual premium starts from Rs.24,000. SBI Life – Saral Retirement Saver After retirement, financial needs are covered via regular bonuses. o Entry age is 18 years. o The annual premium starts from Rs.7,500.
