ClaimRatioIndiaCalculate

SBI Life Insurance

Est. 2001Mumbailife insurer
CSR 2023-24
95.74%
Good
Complaints FY 2022-23
1.93
per 10K policies
99.7% disposal rate
Source: IRDAI Annual Report 2022-23
A joint venture between State Bank of India and BNP Paribas Cardiff, SBI Life distributes through SBI's 22,000+ branch network. Strong presence in tier-2 and tier-3 cities.

Claim settlement ratio history

Financial YearCSR %Claims SettledRatingSource
2023-2495.74%31,234GoodIRDAI Annual Report 2023-24
2022-2395.03%29,821GoodIRDAI Annual Report 2022-23

Strengths

  • +Accessible through SBI's massive branch network
  • +95.74% claim settlement ratio (2023-24)
  • +eShield Next term plan is competitively priced

Limitations

  • -Physical-first process can be slower for online buyers
  • -ULIP products are limited compared to private competitors

How to file a claim

Claims accepted at any SBI Life branch or via the customer portal. Typically settled within 30 days.

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