Frequently Asked Questions
- How do I generate a premium receipt for submission at my office to claim Income Tax benefits?
- While making a payment, the browser froze/ hung, but my credit card has been debited with the premium amount. What should I do?
- Can I take a print out of the Online Form and make a cheque payment at any SBI Life branch?
- Will there be any change in the premium once my policy is accepted by SBI Life?
- Can I pay premiums in any other currency?
- I agree to the additional premium for smoker rates but can I pay it at a later date?
- What should I do to reduce the Sum Assured / Cover in order to compensate for the additional premium due to be paid by me, due to my health condition ?
- Is the additional premium due to my health condition, a onetime payment?
How do I generate a premium receipt for submission at my office to claim Income Tax benefits?
The first premium receipt will be a part of the policy kit dispatched to you once
the policy is issued. Also, on successful payment, an online acknowledgement is
generated, which can be printed.
While making a payment, the browser froze/ hung, but my credit card has been debited with the premium amount. What should I do?
We apologise for the inconvenience caused. Kindly get in touch with us on our toll
free no: 1800 22 5354. Alternatively, you can email us on
online.cell@sbilife.co.in
with your Quotation ID, first name, last name, date of birth, date of transaction
and contact number. Our concerned executives will get in touch with you.
Can I take a print out of the Online Form and make a cheque payment at any SBI Life branch?
SBI Life - eShield is offered Online only. You can only pay through Debit / Credit
card or through Internet Banking mode.
If you wish to take the policy through cheque payment (offline mode), there are other plans which can be purchased through our insurance advisors, distributors or the State Bank Group bank branches. We would be glad if you could provide us your details and our representative will be happy to guide you through the purchase of those term plans . You can write to us at online.cell@sbilife.co.in. Will there be any change in the premium once my policy is accepted by SBI Life?
No, there will not be any change in basic premium during the entire term of the
contract once the proposal is accepted.
Can I pay premiums in any other currency?
No. All quotations are in Indian Rupees (INR) and premiums are accepted only in
INR.
I agree to the additional premium for smoker rates but can I pay it at a later date?
No. Full premium amount, including any extra premium is payable for acceptance of
the insurance proposal.
What should I do to reduce the Sum Assured / Cover in order to compensate for the additional premium due to be paid by me, due to my health condition ?
If you agree for the additional premium charged you can either pay the additional
premium or reduce the cover to such an extent that you need not pay the additional
premium. For reducing the Sum Assured, you only have to send an email to us, from
the email ID registered with us on your proposal form, stating your consent for
both the additional premium and reduction in Sum Assured.
Is the additional premium due to my health condition, a onetime payment?
No. The additional premium charged is not a onetime payment. This premium will be
added to your basic premium and this will constitute the revised premium which you
have to pay for the remaining term of your policy.
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