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Last updated: 19 Sep 2025, 01:24 PM
SBI Life Insurance: Empowering Lives with Trusted Protection
SBI Life Insurance Company Limited, established in 2001 as a joint venture between State Bank of India (India's largest public sector bank) and BNP Paribas Cardif (a leading global insurer from France), is headquartered in Mumbai. As one of India's foremost private life insurers, it has been a key player in expanding financial security post-liberalization.
In-Depth Details
Key Highlights
- Products Offered: A robust suite of 40+ individual and group plans, including term protection (e.g., Saral Jeevan Bima), savings & investment (e.g., Smart Platina Assure), retirement & annuity (e.g., Smart Lifetime Saver), child education (e.g., Smart Scholar Plus), health riders, and group solutions—customized for protection, wealth accumulation, and long-term goals.
- Reach & Scale: 1,000+ branches and 15,000+ distribution partners across India, safeguarding ~14 crore lives, with Assets Under Management surpassing ₹4.5 lakh crore (FY 2024-25).
- Performance Metrics: Individual Death Claim Settlement Ratio of 98.25% (FY 2023-24); 98.99% of claims settled within 30 days; Sum Assured on new business: ₹28.5 lakh crore (FY 2024-25).
- Achievements: Ranked 5th in sustainability (BRSR FY24); 'Best Life Insurance – Large Category' at Mint BFSI Summit 2024; 'Amiable Insurer – Large Category' at ET Now Insurance Summit 2024; 'Best AI-Powered Conversational Analytics Platform' at Data Analytics and AI Show 2025; Guinness World Record for most pledges in a passion campaign (2023).
Key Highlights
- Products Offered: A robust suite of 40+ individual and group plans, including term protection (e.g., Saral Jeevan Bima), savings & investment (e.g., Smart Platina Assure), retirement & annuity (e.g., Smart Lifetime Saver), child education (e.g., Smart Scholar Plus), health riders, and group solutions—customized for protection, wealth accumulation, and long-term goals.
- Reach & Scale: 1,000+ branches and 15,000+ distribution partners across India, safeguarding ~14 crore lives, with Assets Under Management surpassing ₹4.5 lakh crore (FY 2024-25).
- Performance Metrics: Individual Death Claim Settlement Ratio of 98.25% (FY 2023-24); 98.99% of claims settled within 30 days; Sum Assured on new business: ₹28.5 lakh crore (FY 2024-25).
- Achievements: Ranked 5th in sustainability (BRSR FY24); 'Best Life Insurance – Large Category' at Mint BFSI Summit 2024; 'Amiable Insurer – Large Category' at ET Now Insurance Summit 2024; 'Best AI-Powered Conversational Analytics Platform' at Data Analytics and AI Show 2025; Guinness World Record for most pledges in a passion campaign (2023).
