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Renewing yourSBI life insurance policy is a crucial step in ensuring continuous coverage and financial security for you and your loved ones. SBI life insurance offers a straightforward and efficient renewal process, making it easy for policyholders to maintain their coverage. Learn more about renewing your SBI life insurance policy.
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SBI Life Insurance Renewal is a process of extending the tenure of an SBI Life Insurance policy after its expiry date. Once the policy term ends, the policyholder is required to renew the policy to continue availing of the benefits and coverage provided by the policy.
Renewing an SBI Life Insurance is a simple process that can be done online or offline. The policyholder is required to provide the plan details, choose the payment mode, and pay the renewal premium to complete the process. After the payment is processed, the plan will be renewed, and the policyholder will continue to receive coverage and benefits as per the policy’s T&Cs.
It is important to renew an SBI Life Insurance plan on time to avoid policy lapsation, which can lead to a loss of coverage and benefits. Additionally, it is advisable to renew the plan coverage and benefits during the renewal process to make sure that they meet the policyholder’s current needs.
Term Plans
Here is a list of reasons why you should renew your SBI life insurance policy:
Renewing an SBI Life Insurance plans to make sure that the policyholder continues to receive the coverage and benefits provided by the plan, even after the policy term has expired.
If the policyholder does not renew the plan on time, it may lapse, resulting in a loss of coverage and plan benefits. Renewing the plan on time ensures that there is no loss of benefits.
Renewing an SBI Life Insurance policy does not require a medical examination, as long as the renewal is done within the policy’s grace period.
Get tax savings benefits for life insurance premiums paid u/s 80C of the Income Tax Act, 1961. And, when you fail to renew the term insurance plan, you will not be eligible to claim benefits for the year you have not paid the due premium.
There are several benefits of SBI life insurance policy renewal and they are:
Financial Protection: On renewing your SBI life insurance policy online you can continue to stay covered under the same plan at low premiums and ensure that your family is financially protected at all times in the event of your unfortunate absence.
Lower Premiums: Renewing your current life insurance will provide coverage against the eventualities of life at highly affordable premium rates.
Note: You can also use the life insurance premium calculator to see the premiums you would need to pay for the desired life insurance plan.
Customer Support: The SBI life insurance company provides its customers with 24x7 customer support that can help you with your concerns over call, SMS, or email at your convenience.
Free of Cost: The SBI life insurance renewal payment is a free-of-cost feature available for all SBI life insurance customers. You can make use of this feature as there are no hidden charges or penalty amounts applicable.
Easy to Use: You can easily renew your life insurance plan by paying the SBI life insurance renewal payment online from the comfort of your home at any time you want.
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You can make the SBI life insurance policy renewal through any of the following ways:
Through SBI Life Smart Care Portal
Step 1: Go to the smartcare[dot]sbilife[dot]co[dot]in page
Step 2: Select the ‘Pay Premium’ option
Step 3: Enter your policy number and date of birth
Step 4: Make the SBI life insurance renewal premium payment online using any of the preferred methods
Net Banking
The SBI account holders can pay their premiums in the following way
Step 1: Log into your net banking account and go to ‘Bill Payments’
Step 2: Click on the SBI life premiums
Step 3: Enter the required information like policy no. and date of birth
Step 4: Add SBI life as your biller
For other bank account holders
Step 1: Log in to your net banking account and add SBI Life as your biller
Step 2: Pay using InstaPay
Direct Debit
Step 1: Go to the SBI Life Insurance official website
Step 2: Select ‘Premium Payment Procedure’ in the Services section
Step 3: Click on ‘Direct Debit’ for auto debit of all the future payments
Credit Card
Step 1: Visit the official website of SBI life insurance
Step 2: Click on the Easy Renewal Payment options in the Services section
Step 3: Select Setup Standing instructions for Premium payments
Step 4: Choose the Auto Pay option on the Credit card
Mobile Wallets - SBI Buddy
Step 1: Download the SBI Buddy app on your mobile phone
Step 2: Go to the ‘Recharge & Bill Pay’ option and select ‘Bill Pay’
Step 3: Click on ‘Insurance’ under the biller category and choose ‘SBI Life Insurance as the biller
Step 4: Fill in your policy number and date of birth to pay the SBI life insurance renewal premium
SBI Life Easy Access Mobile App
Step 1: Download the SBI Life Easy Access app on your mobile phone
Step 2: Click on the ‘Pay your Premium’ tab in the application
Step 3: Enter your policy number, date of birth, and registered email ID
Step 4: Pay the premiums using your preferred method like net banking or credit/debit cards
Interactive Voice Response
Step 1: Call on the company’s tollfree number 1800-267-9090 (Between 9 AM to 9 PM)
Step 2: Enter your policy number and date of birth
Step 3: The IVR will provide the premium due date, amount, and the option to pay the premiums using a credit card
Step 4: Fill in the Credit card details and the OTP
Step 5: On successful SBI life insurance renewal premium payment the IVR will confirm the payment and generate the transaction ID
Auto Debit Facility
Step 1: Submit duly filled Mandate form and a canceled cheque at the SBI Life Insurance Branch near you
Step 2: All the remaining premiums will be automatically deducted from your bank account on the set due date
POS (Point of Sales)
You can pay the SBI life insurance renewal premium with your credit/debit card using any of the POS (Point of Sales) terminals at selected SBI branches
NACH Facility
Step 1: Register yourself with any core bank tied with the NPCI for NACH
Step 2: Duly fill the Mandate form and submit it at the nearest SBI branch along with your canceled cheque and the future premiums will be debited from your bank account
SBI ATMs and Kiosks
Step 1: Visit the SBI ATM or Kiosk and insert your card
Step 2: Now go to the ‘Bill pay’ under the ‘Services’ option and select SBI Life insurance
Step 3: Fill in the policy number and date of birth
Step 4: Proceed to pay as per the instructions on the screen
Direct Remittance
You can visit the SBI life insurance branches and pay through cheque or demand draft in favor of “SBI Life Insurance Co. Ltd. Policy No XXXXXXX”
Here is the list of information you need to have for SBI life insurance policy renewal:
Policy Number
Date of Birth
Registered Contact Information like mobile number and email address
Premium Cheque with policy number (for branch renewal only)
You can file a claim online, by post, at an SBI Life branch, or via email. Here are the steps you need to follow:
Step 1: To file a claim online, provide the following information:
Policy Number
Date of Birth (dd/mm/yyyy)
Claim Type
Living Benefits
Death Claims
Step 2: Complete a simple numerical evaluation
Step 3: Click on “Submit”
Send the duly filled claim form along with the supporting documents to the following address:
SBI Life Insurance Co. Ltd.,
8th Level, Seawoods Grand Central, Tower 2,
Sector 40, Plot No. R-1, Seawoods, Nerul,
Navi Mumbai- 400706.
Submit the duly filled claim form along with the supporting documents at your nearest SBI Life branch.
For Death Claim: Send documents to claims@sbilife.co.in
Here are the documents required to be submitted for Individual Death Claim:
Mandatory Documents
Claim Form
Original Policy Document
Original or Attested* Death Certificate issued by the local authority
Claimant’s current address proof (Valid Passport, Voter ID Card, Aadhar Card, Driving License)
Claimant’s photo ID proof
Direct Credit Mandate form (download and sign)
Claimant’s valid## bank passbook/statement or cancelled cheque with pre-printed name and bank account number
Additional Documents
Medical attendant’s certificate
Hospital treatment certificate
Employer’s certificate (for salaried individuals)
Copy of FIR/Punchnama Report/Post Mortem#
Copy of Inquest Report/Police Final Report/Chemical Analysis Report/Magistrate’s verdict
*Required only in case of unnatural death (accident, suicide, murder)
*Death certificate must be attested by one of the following officials:
i) Bank Manager
ii) Gazetted Officer
iii) Magistrate
iv) Headmaster of High School
v) Head Postmaster or Sub-Postmaster
vi) Officer of SBI Life
*Updated passbook/statement with the latest entry being within one month of the submission date
SBI Life Smart Care offers a range of features and services to help you manage your policy and stay informed. Here’s a quick guide to the key features:
Pay Premium: Easily pay your policy premium through various online and offline methods, ensuring your policy remains active.
Set Auto Debit: Automate your premium payments by setting up an auto-debit option from your bank account, making it convenient and hassle-free.
Certificate of Existence: Obtain a Certificate of Existence to confirm the ongoing validity of your policy.
Policy Documents/Statements: Access your policy documents and statements online to keep track of your insurance details and coverage.
Track Proposal: Follow the progress of your insurance proposal from application to approval, so you’re always informed.
Claim Tracker: Monitor the status of your claim with Claim Tracker tool, providing real-time updates on the processing of your claim.
Claim Intimation: Initiate the claim process with ease by informing SBI Life about the claim details through Claim Intimation service.
Tools & Calculators: Utilize various tools and calculators to plan your insurance needs and understand the premiums and benefits involved.
Products & Premium Quotes: Explore a wide range of insurance products and get premium quotes tailored to your requirements.
Buy Online: Purchase insurance policies online with ease, offering a secure and convenient way to get insured.
SBI Branch Locator: Find your nearest SBI Life branch with Branch Locator tool, making it easy to access in-person services.
Unclaimed Amount Disclosure: View information about any unclaimed amounts related to your policy, ensuring transparency and accountability.
*Note: You can download any of your policy documents or policy servicing forms by visiting the “Services” section and then clicking on “Download Centre.”
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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