What is SBI Life Term Plan?
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.
What are its key benefits?
Increasing Cover with Accidental Death Benefit – an option under which the Sum Assured chosen at the time of inception
Why buy insurance on InsureMile online platform?
Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. Because InsureMile will guide you, whenever you need any assistance
What are its features?
Affordable term insurance plan Death benefits come with multiple options to choose from Tax benefits are applicable
What is the claim ratio?
The claim settlement ratio is 96.69%. SBI Life settled 17,027 claims against the total claims 17610 reported for the FY 2016-17 with a total payout of Rs 480.23 Crores.
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission. For every policy you buy, InsureMile on your behalf contributes 25 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.