How to File a Claim for SBI Term Insurance – Step-by-Step Guide 2025

Filing a claim for SBI Term Insurance is a straightforward process designed to provide quick financial support to nominees during challenging times. With SBI Life Insurance’s impressive claim settlement ratio of 99.20% in FY 2023-24, policyholders can trust in reliable payouts. Whether you’re claiming a death benefit for a SBI Term Insurance plan like eShield Next, Smart Shield, or Poorna Suraksha, or seeking benefits from riders like critical illness or accidental death, this step-by-step guide for 2025 will help nominees navigate the process efficiently. Below, we outline the steps, required documents, and key tips to ensure a smooth claim experience.

Understanding SBI Term Insurance Claims

SBI Term Insurance claims typically involve death benefits, where the nominee receives the sum assured (e.g., ₹1 crore) if the policyholder passes away during the policy term. Some plans, like Poorna Suraksha, also cover critical illness claims, while riders may include accidental death or disability benefits. Claims can be paid as a lump sum, monthly installments, or a combination, depending on the plan. SBI Life’s streamlined process, supported by 947 branches and a robust online platform, ensures quick settlements.

Step-by-Step Guide to Filing a SBI Term Insurance Claim

Follow these steps to file a claim for SBI Term Insurance in 2025:

Step 1: Notify SBI Life Insurance

• Action: Inform SBI Life about the policyholder’s demise or claim event (e.g., critical illness diagnosis) within 15 days.
• Methods:
  • Online: Visit www.sbilife.co.in and use the “Claims” section to submit a notification.
  • Helpline: Call 1800-267-9090 (toll-free) to report the claim.
  • Branch: Visit any of SBI Life’s 947 branches across India with policy details.
• Details Required: Policy number, policyholder’s name, date of event, and nominee’s contact information.
• Tip: Prompt notification ensures faster processing and avoids delays.

Step 2: Gather Required Documents

• Essential Documents for Death Claims:
  • Original policy document or indemnity bond (if policy is lost).
  • Death certificate issued by a municipal authority or hospital.
  • Nominee’s identity proof (Aadhaar, PAN, passport, or voter ID).
  • Nominee’s bank details (canceled cheque or passbook copy).
  • Duly filled claim form (download from www.sbilife.co.in).
  • Medical records or post-mortem report (if required by SBI Life).
• Additional Documents for Specific Claims:
  • Critical Illness Claims (e.g., Poorna Suraksha): Medical certificate from a registered practitioner, diagnostic reports, and hospitalization records.
  • Accidental Death/Disability Claims: FIR, police report, or medico-legal certificate.
  • Terminal Illness Claims: Medical certificate confirming terminal illness diagnosis before age 80.
• Tip: Keep digital and physical copies of all documents for quick submission.

Step 3: Submit the Claim

• Online Submission:
  • Log in to the SBI Life customer portal or use the claims section on www.sbilife.co.in.
  • Upload scanned copies of all required documents.
  • Verify details and submit the claim form online.
• Offline Submission:
  • Visit an SBI Life branch and submit physical copies of documents.
  • Obtain an acknowledgment receipt for tracking.
• Tip: Online submission is faster; ensure documents are clear and legible to avoid rejections.

Step 4: Claim Processing and Verification

• Process: SBI Life reviews the submitted documents and may contact the nominee for additional information or clarification.
• Verification: For high-sum assured plans (e.g., ₹1 crore) or specific claims (e.g., accidental death), SBI Life may conduct a verification process, including medical or police record checks.
• Timeline: Most claims are processed within 7–15 working days, provided all documents are complete.
• Tip: Respond promptly to any requests for additional documents to expedite processing.

Step 5: Claim Settlement

• Payout Options:
  • Lump Sum: Full sum assured (e.g., ₹1 crore) paid in one go.
  • Monthly Installments: Fixed income over a specified period (available in plans like eShield Next).
  • Combination: Part lump sum and part monthly income.
• Payment: Funds are transferred to the nominee’s bank account via NEFT or other electronic methods.
• Notification: SBI Life informs the nominee via SMS/email once the claim is approved.
• Tip: Ensure the nominee’s bank details are accurate to avoid payment delays.

Key Features of SBI Term Insurance Claims

• High Claim Settlement Ratio: 99.20% in FY 2023-24, reflecting SBI Life’s reliability.
• Digital Convenience: Online claim submission and tracking via the SBI Life portal or app.
• Support: Dedicated helpline (1800-267-9090) and branch assistance for nominees.
• Flexible Payouts: Options to suit the nominee’s financial needs, especially for plans like eShield Next or Smart Shield.
• Rider Claims: Additional benefits for accidental death, disability, or critical illness (e.g., Poorna Suraksha covers 36 illnesses).

Common Exclusions to Understand

Before filing a claim, be aware of exclusions in SBI Term Insurance plans that may lead to claim rejection:

• Suicide: If the policyholder dies by suicide within one year of policy start or reinstatement, the nominee receives only 80% of premiums paid.
• High-Risk Activities: Claims may be denied for deaths due to adventure sports, aviation, or hazardous activities not disclosed during policy purchase.
• Criminal Acts: Involvement in illegal activities voids the claim.
• Fraud or Non-Disclosure: Misrepresentation of health, occupation, or lifestyle details can lead to rejection.

Tips for a Hassle-Free SBI Term Insurance Claim

• Keep Policy Details Accessible: Share policy numbers and documents with nominees for quick reference.
• Update Nominee Details: Ensure the nominee’s name and contact information are current in the policy.
• Check Rider Coverage: Confirm if the claim involves riders (e.g., critical illness) and prepare relevant documents.
• Use Online Tools: Leverage SBI Life’s portal for faster submission and real-time claim tracking.
• Consult Support: Contact SBI Life’s helpline or visit a branch for guidance if facing issues.

Why SBI Term Insurance Claims Are Reliable in 2025

SBI Life Insurance, backed by the State Bank of India and rated AAA/Stable by CRISIL, ensures a trustworthy claim process. With 947 branches and a digital-first approach, SBI Term Insurance claims are processed efficiently, making it a preferred choice for plans like eShield Next, Smart Shield, or Poorna Suraksha. The high claim settlement ratio and dedicated support team provide confidence to nominees during difficult times.

Conclusion: File Your SBI Term Insurance Claim with Confidence

Filing a claim for SBI Term Insurance in 2025 is simple with SBI Life’s streamlined process and high settlement ratio. By following the steps above—notify, gather documents, submit, and track—you can ensure a smooth experience. For further assistance or to check claim status, visit www.sbilife.co.in or call 1800-267-9090. Secure your family’s future with SBI Term Insurance and rest assured that claims will be handled with care and efficiency. Act now—review your policy and share this guide with your nominee today!