Know Your Rights and Responsibilities ???en.user.selcrs???
SBI Life Insurance India's First and Only Multi-lingual Life Insurance website:  English | हिन्दी | বংলা | தமிழ் | తెలుగు | मराठी | ગુજરાતી | ಕನ್ನಡ | ਪੰਜਾਬੀ | മലയാളം
Call Toll Free 1800 22 9090 SMS 'CELEBRATE' to 56161
Find us on :  Twitter  Facebook
   
CUSTOMER EDUCATION
Home > Customer Education > Know Your Rights and Responsibilities

Customer Education

 
YOUR RIGHTS
SBI Life is committed to safeguard your rights when you buy insurance and when you submit a claim. It is essential to know what your rights are.
 
YOUR RIGHTS

Right to Information about:
 
How the product meets your needs?
How the claims settlement process works?
How does insurance policy works?
How your premium is invested?
How your savings will grow?
How to know about the policy details at any point of time?
Right to Privacy:
All information provided by you to the company in order to provide you the insurance, the responsibility of keeping your information confidential lies with us.

Right to Guidance:
You have the right to be guided to choose a product which suits your needs.

Grace Period:
The company offers a ‘grace period’ as per policy terms and conditions in case you are unable to pay your premium on time.

Free-look Period:
If you are not satisfied with the policy terms and conditions, you can cancel your policy during the ‘Free-look period’ as defined under policy terms and conditions

Right to Timely Claims Settlement:
Ideally, the Company settles a claim within 30 days of submission of all the necessary documents.

Right to Complaint Resolution:
If you have a complaint about the services you have received, you have the right to approach us.
 
 
YOUR RESPONSIBILITIES

Understand the product features:
 
Plan Type: Market Linked or Traditional
Premium Mode: Single Premium or Regular Premium
Premium Amount, Premium Paying Term  and Tenure of the plan
Plan Benefits - Before and at Maturity
Lock-in period and Surrender Charges
Check and understand the Benefit Illustration
 
Fill the Proposal Form carefully:
Fill in the proposal form yourself and provide true information about your health, financial status, occupation etc..

Read the Policy Document and Benefit Illustration carefully:
Read the policy document carefully and understand the terms and conditions.

Understand Benefit Illustration (BI) given by Insurance Agent prior to signing the Proposal Form.

Payment Option & Paying Premium in time:
Pay your premiums regularly to keep your policy in-force to continue to avail its benefits.

It is advisable to opt for any of the automatic debit modes for renewal premium payment as they reduce chances of missing payment by due date.

Are you adequately Insured:
Review your insurance needs regularly for adequate cover.

Right to Timely Claims Settlement:
Ideally, the Company settles a claim within 30 days of submission of all the necessary documents.

Update Contact Details:
Intimate change in address, contact number, e-mail id and nominee to the Company .

Assignment & Reassignment:
If your policy is assigned for a loan, ensure that the reassignment notice is sent to the Company and is noted after the loan is repaid. T he reassigned policy should be taken back from the lender.
 
 
Buy Policy Online
  Login Area
  Go
   NAVs
  Click here to view the latest Unit Values & Newsletters >>
  Services
  Premium Calculator
  Retirement Planner
  Child Education Planner
  Tax Calculator
SBI | SBI Online Banking | SBI General Insurance | SBI Card | SBI AMC | SBI Capital | SBI Global Factors | SBI DFHI Ltd
State Bank of Bikaner and Jaipur | State Bank of Hyderabad | State Bank of Mysore | State Bank of Patiala | State Bank of Travancore
IRDAI | Consumer Education Website by IRDAI | Life Insurance Council | SFIN Codes | Privacy Policy | Disclaimer | Do Not Call
IRDAI Registration no. 111 issued on 29th March 2001.
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
2016 SBI Life Insurance Company Limited. All rights reserved.