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Frequently Asked Questions [Hide]

 

When will my life insurance cover begin?

Your coverage will begin only on acceptance of your proposal form. A written confirmation would be sent to you in this regard.

My payment has been successful and I have received a transaction successful receipt. When will the policy be issued to me?

The policy shall be issued after fulfilling all the underwriting and internal requirements. Based on these details, the decision on acceptance or rejection of cover is taken.

What are the tax benefits available?

Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the Sum Assured, the benefit will be limited up to 10% of the Sum Assured. Tax exemption under Section 10(10D) is available, subject to premium not exceeding 10% of the Sum Assured in any of the years during the term of the policy. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.



BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
TELEPHONIC SUPPORT AVAILABLE

*For a healthy non-smoker male 25 years old with a policy term of 20 years, level cover option, paying Rs. 6,360 as annual premium without service tax for a sum assured of Rs. 1 cr. (Premium for one day = Annual Premium / No of days in a year = Rs. 6,360 / 365 = Rs.17.43 - Rs. 18.00 approximately). Premium mentioned above is indicative and might change subject to underwriting. Premiums can be paid only in Annual Mode of Premium Payment. #For the Premium paid on Life Insurance of Rs. 1.5 lakhs, save tax upto Rs. 51, 912/- (Assuming highest tax bracket applicable for an individual and subject to provision of Income Tax Act, 1961.) No medicals required for a cover up to Rs. 75 lakhs for the age upto 40 years. No medical underwriting if no adverse declaration is made in the proposal form by the policyholder.

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details. Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license. SBI Life - eShield, UIN: 111N089V01, a non-participating pure term insurance plan. Registered & Corporate Office: SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. IRDAI Registration no. 111. CIN: U99999MH2000PLC129113. www.sbilife.co.in

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* Applicable only for the NRIs when they will visit India
# For monthly mode, 3 months premium is o be paid in advance and renewal payment is allowed only through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card)
** in multiples of 100
^ Tax benefits are as per income tax & is subject to change from time to time. Please consult your tax advisor for details. You may visit our website for further details: http://www.sbilife.co.in/content/2/3672#5
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number. To read more, please click here - IRDAI Public Notice
TELEPHONIC SUPPORT AVAILABLE

In case of surrender request during the first 5 policy years, the fund value shall be payable on the 1st working day of the 6th policy year. In case of surrender request after 5 policy year, the fund value shall be paid immediately. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to risk factors. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder are responsible for his / her decisions. SBI Life Insurance Company Limited is only the name of the insurance company and SBI Life – eWealth Insurance are only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract, its future prospects or returns.

Please know the associated risks and the applicable charges from your Insurance Agent or the intermediary or policy document of your insurer.

The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospectus or returns.

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. IRDAI Registration no. 111. SBI Life – eWealth Insurance (UIN 111L100V01) is a non-participating Online Unit Linked Insurance Plan.Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license.Registered & Corporate Office: SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. CIN: U99999MH2000PLC129113 Call Toll Free No. 1800-22-5354 from 9.30 AM-7.30 PM on all days or email at online.cell@sbilife.co.in & Visit us at www.sbilife.co.in

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