Claims & Maturity in Life Insurance | Claim Settlement Ratio Explained
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Claim Intimation and Settlement Process

At SBI Life, our commitment to you is a worry-free future so that you can enjoy your present. Through our claim Intimation and Settlement Process, we strive to honour this commitment.We make every effort to ensure that you recieve the claim amount that you or your family are entitled to, quickly and easily.

File Claim Online

Living Benefits
Death Claims
+ 91

By Post

Send the dully filled claim form along with the supporting documents to the following address:

SBI Life Insurance Co. Ltd,

8th level Seawoods Grand Central, Tower 2,

Sector 40, plot No.R-1, Seawoods, Nerul,

Navi Mumbai- 400706.

At the SBI Life Branch

Submit the dully filled claim form along with the supporting documents at your nearest SBI Life branch.

Via Email :

For Death Claim : claims@sbilife.co.in

File Claim Online*

Details of Life Assured(LA)
Details of Claimant
Claimant Bank Details
Main Documents
Declarations

Details of Life Assured(LA)

Family Doctor Details:
Last treated/attended Doctor Details:
Nature of Illness and Habit of the insured:
Other Insurance Details: (Life/Mediclaim/Health):

Claimant NEFT Mandate/Bank Account Details

Claim Benefit Payout Option * :

Mandatory Documents

Important:

1. Please upload the self attested documents only.

2. Kindly upload clear image of all documents for faster processing.

3. Submitting all documents at one go would lead to quicker processing of the claim.

4. Only originals of Death certificate and policy document (containing the policy details page) to be uploaded.

5. For the remaining documents copy of the images can be uploaded.

Document type allowed for upload are JPEG, TIF, PNG, PDF. Maximum file size is 500 KB.
(Min 4 Pages, Max 6 Pages)
(Max 2 Pages)
(Max 30 Pages, Max size 1 MB)

DECLARATION AND AUTHORISATION

  • I hereby authorize SBI Life to consider details furnished in the claim form specified above and in this declaration for the purpose of Central KYC Registry and to provide my details to CERSAI in the prescribed format. I hereby consent to receiving information from Central KYC Registry through sms/ email on the above registered number/email address.
  • I hereby declare all the details filled/furnished above are true correct to the best of my knowledge & belief.
  • I hereby warrant the truth and correctness of the foregoing particulars in every respect and I agree that if I have made or shall make any false or untrue statement,suppress or conceal any material fact, my right to claim reimbursement of the said expenses shall be absolutely forfeited.
  • I understand and agree that the submission of this form does not mean that the request will be processed.
  • I understand that any payout under the policy shall be strictly in accordance with the policy terms and conditions.
  • Any payment shall be subject to realization of the last renewal premium payment.
  • I authorise all the medical establishments (medical labs included), government institutions (police, revenue, etc.) to reveal the treatment information including HIV / AIDS and others, related to the LA, to SBI LIFE Insurance Company Limited, from both the past and present.
  • A photo copy of this declaration shall be considered as valid and effective.
  • I authorise SBI LIFE Insurance Company Limited to share and obtain information on behalf of me with any reinsurer, insurance association, medical authorities, other insurers, statutory authorities, employer, court, governmental body, regulator using an investigation agency or other service hereby provide my consent for the same.
  • The payout mode selected in this form would be used by the company to make all payout(s) to the claimant. Payouts would be in accordance and subject to the terms and conditions of the policy. Further the Company reserves the right to use any alternative payout option including demand draft/payable at par cheque inspite of opting for electronic payout method. Responsibility of providing IFSC code lies with the customer. Please note that IFSC code for RTGS & IFSC code for NEFT may be different. I will not hold SBI Life Insurance Company Ltd. responsible in cases of non-credit to my bank account or if the transaction is delayed or not effected at all for reasons of incomplete / incorrect information
  • Insurance Policy Number (s):
    I, , of , do hereby declare that the above statements are true in each & every respect. I hereby give my consent to SBI Life Insurance Co. Ltd. and its representatives to obtain information / documents (including photocopies) from past and the present employer(s) / Business Associates / Medical Practitioners / Hospitals (Government / Private) / Birth and Death Registrar / Any life and non-life insurance company and Life Insurance Association's Medical Register. I hereby request the relevant authorities to release to SBI Life Insurance Co. Ltd, and its representatives any details regarding state of health, habits and occupation of the life assured within his/ her knowledge before or after the policy was issued and SBI Life insurance Co. Ltd. to release to any Life and non-life insurance company / or Life Insurance Association's Medical Register, such details and provide the record of employment / business or other details as may be considered relevant.
  • In case where Sum Assured is zero / Investment plan / Paid-up policies, where the Policy document is not submitted to the Company and where the total payment is not more than Rs 5 lakhs, I hereby agree to indemnify the Company against all liabilities that the Company may incur on account of any claim being made by any other person on the basis of possession of the Policy document or otherwise.
  • I hereby voluntarily give my consent to collect, process, receive, possess, store, deal or handle my/our sensitive personal data or information [as defined in the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules 2011 as amended from time to time], and share Data with third parties/ vendors associated with the Company for various purposes and outsourced activities exclusively related to issuance/servicing/settlement of claim as required under the Policy
  • I agree that by submitting this form, I will be bound by all the statements/disclosures of material facts made through the electronic process in the same manner and to the same extent, as if I have signed and submitted the written claim form to the Company.
I accept the above mentioned conditions and the information provided in the above form is true to the best of my knowledge.
*

Note:  

1. Kindly Mask your AADHAR Number in case of AADHAR documents are uploaded in KYC Documents.

2. For TDS related query please visit to nearest SBI Life Branch.

At the SBI Life Branch

The documents to be submitted for each type of claim are clearly listed in the section below. In addition to these, we may request for other documents for checking the admissibility of the claim. Kindly submit the same by email or mail them to us at the address mentioned in the Claim Intimation section or visit your nearest SBI Life branch

For Death Claim : claims@sbilife.co.in

FAQs for Claims and Maturity
TAT : Your claim will be decided upon and settled within 30 working days of receiving the valid documents.

At the SBI Life Branch

All claims will be assessed based on the claim documents that you/your family will submit  and the information that the life Assured provided to us in the proposal form.
 
Once a claim decision is taken , the claim amount will be released as per the terms and conditions of the policy.
 
Throughout the Claim Settlement Process , we will always be there to assist you/your family in better understanding of the requirements and faster completion of documents submission.
 
For any further assistance with claim settlement , please feel free to mail us at - info@sbilife.co.in

For Death Claim : claims@sbilife.co.in

FAQs for Claims and Maturity
TAT : Your claim will be decided upon and settled within 30 working days of receiving the valid documents.

documents to be submitted

Mandatory Documents

    • Claim Form
    • Original Policy Document
    • Original or Attested* Death Certificate issued by local authority
    • Claimant’s current address proof (Acceptable documents - Valid Passport, Voter ID Card, Aadhar Card, Driving License)
    • Claimant’s photo ID proof
    • Direct Credit Mandate form (download sign) Claimant’s Valid## bank passbook/statement or Cancelled Cheque with pre-printed Name and pre-printed Bank account number

Additional Documents

    • Medical attendant’s certificate
    • Hospital treatment certificate
    • Employer’s certificate (for salaried individuals)
    • Copy of FIR/Punchnama Report/Post Mortem#
    • Copy of Inquest Report/Police Final Report/Chemical Analysis Report/Magistrate’s verdict#
#Required only in case of Unnatural Death (Accident / Suicide / Murder)
*Death certificate to be attested from any of the following officials: i) Bank Manager ii) Gazetted Officer iii) Magistrate iv) Headmaster of High School v) Head Postmaster or Sub-Postmaster vi) Officer of SBI Life
##Updated passbook / Statement with latest entry being within one month of submission date

Mandatory Documents

    • For Credit Life Claims- RiNnraksha, Dhanaraksha, Super Suraksha:
      • Credit Life Claim Form
      • Original Death Certificate issued by Local Authority OR Attested* copy of Death Certificate.
      • Claimant's current address proof
      • Claimant's photo ID proof
      • Claimant's Valid## Bank pass book / Bank statement / Cancelled cheque
      • Recent Loan Account Statement, Recent Suraksha Account Statement
      • Loan Sanction Letter
    • For Swarna Ganga Claims:
      • Claim Form
      • Original Death Certificate issued by Local Authority OR Attested* copy of Death Certificate.
      • Claimant's current address proof
      • Claimant's photo ID proof
      • Claimant's Valid## Bank pass book / Bank statement / Cancelled cheque
      • Provident Fund Statement stating the Nominee details
    • For Group Swadhan Claims:
      • Claim Form
      • Original Death Certificate issued by Local Authority OR Attested* copy of Death Certificate.
      • Claimant's current address proof
      • Claimant's photo ID proof
      • Claimant's Valid## Bank pass book / Bank statement / Cancelled cheque
      • LET papers if Nominee not registered during issuance.

Additional Documents

    • Medical attendant’s certificate
    • Hospital treatment certificate
    • Employer’s certificate (for salaried individuals)
    • Copy of FIR/Punchnama Report/Post Mortem#
    • Copy of Inquest Report/Police Final Report/Chemical Analysis Report/Magistrate’s verdict#
    • Death Certificate/ Death Summary if death occurs in Hospital
#Required only in case of Unnatural Death (Accident / Suicide / Murder)
*Death certificate to be attested from any of the following officials: i) Bank Manager ii) Gazetted Officer iii) Magistrate iv) Headmaster of High School v) Head Postmaster or Sub-Postmaster vi) Officer of SBI Life
##Updated passbook / Statement with latest entry being within one month of submission date

Individual Maturity

    • Original Policy Document
    • Maturity Discharge Voucher
    • Life Assured’s current address proof
    • Life Assured’s ID proof
    • Direct Credit Mandate form
    • Life Assured’s Valid## Bank pass book/bank statement/crossed cheque
    • Pan Card (if TDS is applicable as per Section 194DA of the Income Tax Act, 1961)*

Pension Maturity

    • Original Policy Document
    • Maturity Discharge Voucher
    • Option Sheet (available in SBI Life Branch 3 months before the due date)
    • Life Assured’s current address proof
    • Life Assured’s ID proof
    • Direct Credit Mandate form (download sign)Life Assured’s Valid## Bank pass book/bank statement/crossed cheque
    • Pan Card (if TDS is applicable as per Section 194DA of the Income Tax Act, 1961)*

Annuity (Individual and Group)

    • Certificate of Existence

Survival Benefits

    • Life Assured’s current address proof#
    • Life Assured’s ID proof#
    • Direct Credit Mandate form
    • Life Assured’s Valid## Bank pass book/bank statement/crossedcheque
    • Pan Card (if TDS is applicable as per Section 194DA of the Income Tax Act, 1961)*

    *Applicability of Section 194DA of the Income Tax Act, 1961
    • For Policies with Date of Commencement between 01/01/2003 to 31/03/2012 and Annual Premium exceeds 20% of Base Cover or
    • For Policies with Date of Commencement 01/04/2012 and onwards and Annual Premium exceeds 10% of Base Cover or
    • If the total payouts (SB / Maturity / Surrender / Partial Withdrawal) under all policies taken together, in one financial year is 1 Lakh< Above

Additional Documents from NRIs

    • Self Declaration for Tax Residency
    • Form 10F
    • Proof of residency issued by the government of that country
##Updated passbook / Statement with latest entry being within one month of submission date
#Only when the date of commencement of the policy is prior to 01/08/2006 and the annualized premium is more than 10,000/-

Turn Around Times

    Sr. No. Type of Pay-out or Service Request Maximum Processing TAT
    Claim Payouts
    1 Survival Benefit On due date
    2 Maturity of Non Linked Products Other than Pension On due date
    3 Maturity of Pension products and Unit Linked Insurance Products *+ On due date
    4 Annuity payouts On due date
    5 Death Claim Non investigated 15 days from the date of intimation of claim
    6 Death Claim – Investigated claims Within 45 days from the date of intimation of claim
    7 Health Claims 15 days from the date of intimation of claim
    8 Death claims under Group Fund Policies 15 days from the date of intimation of claim