How to pay your SBI Life Insurance premium online

How to pay your SBI Life Insurance premium online

There are myriad options to choose from, both online and offline when it comes to paying SBI Life insurance premiums. However, with everything easily accessible via the internet, it has become all the more convenient to pay your insurance premiums. You no longer have to visit your bank or the insurance office; you can pay your premiums online with a few clicks. We tell you how to pay insurance premium online -

1. Internet banking - Netbanking is one of the best ways to pay insurance premium online. If you have an account in SBI or any of its partner banks, you can pay your insurance premiums via Internet banking with the following steps.
   1. Add SBI Life as your biller
   2. Provide your policy number and personal details
   3. The details will be verified, and this service will be activated on your account
   4. Now you can see your premium bill with the due date. You can choose to pay immediately or schedule the premium payments via internet banking
2. SBI Life website - You can pay insurance premium online easily via the SBI Life website
   1. Visit the website and select the options to pay your premiums online
   2. Enter your policy number and personal details
   3. Once you have submitted your details and they are verified, you can select the mode of payment that is the most convenient for you, and pay
3. VISA Credit cards - This is probably the quickest way of paying your insurance premium online
   1. You will have to register yourself on visabillpay.com
   2. Add SBI Life as your biller
   3. Provide the policy details
   4. After verification, you can view and pay your insurance premiums online via your credit card.

   You can even leave standing instruction on your credit card for automatic bill payment. This will work only for VISA and MasterCard. The procedure is as follows.

   1. Select Billdesk as your payment gateway
   2. Select the 'Pay through credit card' option
   3. Click on 'One Time Payment + Standing Instruction.'
   4. It will take about 3-4 working days for the Standing instructions to be activated. You will be directly billed to your credit card, starting from the next premium date.
4. Mobile app - There is an easy option to pay your SBI Life insurance premiums online via a mobile application as well.
   1. Download the SBI Life Easy Access application for your mobile
   2. After registering, click on the 'Renewal Premium Payment option.'
   3. Enter your policy number and personal details that you are prompted for
   4. Select the mode of payment and pay.
5. Mobile Wallets - You can also pay SBI Life insurance premiums online using some of the most popular wallets like the SBI Buddy, Jio Money Wallet, or Paytm. The process for paying the insurance premiums is almost similar across all these apps.
   1. Download any of the supported mobile wallets
   2. Create a profile if you haven't already
   3. Select the option for paying the insurance premium
   4. Select SBI Life Insurance
   5. Enter your policy number and personal details
   6. After verification, you will be able to pay your insurance premium online through whatever mode of payment that your wallet supports.

Before you pay your insurance premium online, always ensure that you input the correct details. Also, verify all the charges in your premium bill before you make your payment, to avoid any confusion.

FAQs:

How to pay life insurance premium online?

Paying SBI Life premiums online is available using internet banking or SBI Life site, credit cards, SBI Life mobiles or by zero-touch digital wallets. All you do is, key in your policy information, select the mode of payment, and pay.

Can online payment of insurance be safe?

Sure, provided you utilise official payment channels such as the SBI Life site, or reliable banking websites, or reliable mobile payment apps and gateways. Carefully verify the payment details as well as URLs.

Why is online premium payment an advantage?

It is quick, easy and it is open at all times. It allows making payments at any time and even setting up auto-pay to make sure that you do not go past the due date.

What should I check before making the payment?

Be sure the policy number you use matches the one on your policy document; ensure the amount of premium and date of payment to be made is correct. This assists in making sure that your payment is posted properly and that renewal of policy is not delayed.