SBI Life Insurance Benefits, SBI Life policy status
Benefits of SBI Life Insurance
SBI Life Insurance Company was founded in March 2001 as a joint venture between the largest state-owned bank in India, State Bank of India (SBI), and a French multinational bank and financial services company, BNP Paribas. SBI Life is one of India's leading private life insurers. SBI offers a wide range of Term, Unit-Linked, Savings, Investment, Retirement, Moneyback, and Child plans. Their mission as a leading company is to emerge as the company that provides a diverse range of life insurance plans at reasonable prices while maintaining high levels of customer satisfaction.
The philosophy of SBI Life Insurance is based on five core values: trustworthiness, ambition, innovation, dynamism, and excellence. SBI Life Insurance provides customers with best-in-class services while adhering to ethical standards, professional integrity, corporate governance, and regulatory compliance.
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Benefits of SBI Life Insurance
SBI Life Insurance offers the following benefits to its customers:
- Wide Range of Products: SBI provides a comprehensive range of Term, Unit-Linked, Savings, Investment, Retirement, Moneyback and Child plans. You can choose the plan that fits your needs and budget. They offer online plans that cater to hassle-free and quick registrations. Every plan differs from each other and comes with many options that can fit your requirements and budget as well.
- High Claim Settlement Ratio: SBI Life Insurance has a claim settlement ratio of 94.52% for the year FY 2019-20. This Claim Settlement Ratio reflects the credibility of the insurance company.The Claim Settlement Ratio depicts the number of claims that were paid successfully by the insurance company among the total claims received during a year. A customer will choose an insurance provider who he/she can rely on and a high claim settlement ratio helps to assess the reliability of the insurance company.
- Award Winning Services: SBI Life has been awarded with the “Life Insurer of the year 2019” by Federation of Indian chambers of commerce (FICCI). It has been awarded “Best Life Insurance Company 2019” by Indian Chambers of Commerce. It has also been awarded with the “Smart Life Insurance Company” by Economic Times for the year 2019.
- Affordable Plans: An insurance buyer will always want a good insurance plan that fits their necessary requirements and most importantly that fits in their budget. SBI Life Insurance provides comprehensive life cover on the payment of an affordable premium rate. Some SBI Life Insurance plans provide many options at a very affordable premium rate.
- Excellent Customer Service: SBI Life Insurance company is one of the leading life insurance providers of affordable policies and plans The company values its customers and provides excellent customer services. Their customer care service is accessible 24x7 on their website and their customer care toll free number that is accessible 24x7. This helps the customer to stay connected with the insurance provider.