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SBI Life Insurance Company Limited is one of the popular insurers in India. It is a collaboration between the State Bank of India, India’s largest bank, and BNP Paribas Cardif, the leading global insurance company. SBI Term Insurance offers an easy claim intimation and settlement process so that you or your family members receive all entitlements easily and quickly.
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Note: Know more about what is term insurance first before reading this article.
Read on to know more about the SBI Term Insurance Claim Process in detail:
SBI Term Insurance Plans come with a hassle-free and smooth claim settlement process. SBI Life Insurance company offers the option to settle claims both via online and offline mode. The company makes every effort to make sure that you receive the claim payout that you or your loved ones are eligible to, easily and comfortably. It has featured a claim settlement ratio of 93.09% in FY 2020-21, representing the reliability and loyalty of the company towards its customers. The higher the CSR, the fast settlement of death claims, and the better the insurer is.
SBI Term Insurance’s experienced and dedicated claims assistance team aims to deliver you a differentiated customer support service of the transparent, convenient, fair, and fast claims process for claims management and settlement. The company believes in paying valid claims in a timely and fair manner. SBI’s claim service will:
Relieve the claim stress by coordinating repair and replacement of your assets
Assist in emergency conditions
Provide you the option of accessing the company’s local service providers
Keep you informed about the claim progress
SBI Term Insurance Claim process follows 3 quick and easy steps. Let’s discuss each step in detail:
Below are the steps to file a claim for SBI Term Insurance Claim online:
The primary step is to intimate your claim to the insurance company. You can inform about your claim by visiting the ‘claims and maturity’ page of the SBI Life official website. The details required in filing claim intimation online include policy number, date of birth and type of claim. Then, click ’Submit’. You can also intimate your claim via email at claims@sbilife.co.in.
After reporting the death claim, the required documents are to be submitted to the insurance company via mail or by visiting the SBI Life's nearest branch office.
All claims will be examined on the basis of the claim supporting documents that you or your loved ones will submit and the details that the life assured provided in the proposal form. After deciding on approving the claim, the amount of the claim will be transferred as per the T&Cs of the policy documents. In case of any assistance with the SBI Term Insurance Claim Process, you can directly mail at info@sbilife.co.in
SBI Term insurance plan claims can be filed by visiting the nearest branch of SBI Life or by calling on their toll-free helpline number 1800-267-9090.
Mandatory Documents
Claim Application form
Original documents of the policy
Death Certificate (Original and Attested) issued by the local municipal authority
Present address proof of claimant
ID proof of claimant
Bank passbook details and statement
Cancelled cheque with pre-printed account number and name
Additional documents required in case of unnatural/accidental death
Certificate issued by Medical attendant
Hospital certificate
Employer’s certificate for salaried persons
Copy of FIR /Post-Mortem Report/Panchanama
Inquest report/Chemical viscera analysis/Verdict of magistrate
If TDS is applicable and the client is living in a country where DTAA is valid, the below documents can be submitted by the client to avail DTAA benefit for tax exemption.
Tax Residency Certificate
Form 10F
Proof of Residency issued by the Government of the residential country
Always give correct information in the claim application form
Disclosure of existing and past medical conditions, surgeries, operations etc. is necessary
Fill the insurance proposal form by yourself
Always update the information of nominee
By ensuring the above-mentioned steps, you can protect your dependents and make sure that they get the term insurance benefits on time.
†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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