How to Surrender SBI Life Insurance Policy online?

How to Cancel SBI Life Insurance Policy Online?

The SBI Life Insurance Policy is an excellent product that can help you create a secure future for your family. If you have decided that this insurance policy is not for you, then there are a few things to keep in mind before cancelling the policy.

There are two ways to cancel the policy either by submitting a request online or by visiting the nearest branch of SBI Life Insurance Company. SBI has made it very easy to cancel SBI life insurance policy online. You can do this by logging on to the website and then going to the 'Cancel Policy' section. Or you have to contact the SBI life insurance company and convey your wish to cancel the policy. Make sure that you have given a free look period of 10 to 30 days for cancellation of your policy.

• Usually, they provides alternate options and solutions to the Policyholder regarding policy changes, and premium rates.
• If you are still wishes to cancel the life insurance policy, download the cancellation form from the SBI’s website or obtain it from the branch office and fill up the details
• Once the cancellation form is submitted to the insurance provider, they will get on to the process of cancelling the policy
• No refunds will be made if the policy is cancelled outside of the free looking period/ cooling off period.

How to Pay SBI Life Insurance Premium Online?

Paying your SBI Life Insurance premium online is a simple and secure process. All you need to do is follow the step by step process of paying SBI life insurance premiums online:

With Insurer:

• Visit the official website of SBI Life Insurance
• Click on Pay Premium Link
• Enter details such as policy number, email id, date of birth, etc.
• Click on the “Submit” button
• Make payment using payment options such as Net Banking, Credit card, Debit card, UPI wallets, bill pay, and others as per your convenience.

With PolicyBachat:

• Visit the Policybachat Website and select the ‘Life’ tab.
• Enter your Name, Date of Birth, and Mobile Number.
• Click on the ‘View Plans’ button.
• Select your ‘Gender’.
• Select ‘YES’ or ‘No’ if you have Smoked or Chewed Tobacco in the last 12 months.
• Select your ‘Annual Income’.
• Select your ‘Education Qualification’.
• Choose your ‘Occupation Type’.
• Enter your ‘Email Address’.
• Then click on ‘Start Saving Money’.
• Premium Quotes of top life insurance plans will be displayed as per data entered by you and which suits your requirement. You can add riders; edit your sum insured, policy premium frequency, etc.
• Purchase the best life insurance policy and make the payment using payment options.

What is SBI Life Insurance?

SBI Life Insurance was launched in the year 2000 and has been a leading player in the Indian insurance market since then. It is a joint venture between the State Bank of India, one of the largest commercial banks in India, and BNP Paribas Cardiff, a leading French financial services company. The company offers life insurance products, savings products, pension products, etc.

Is SBI Life Insurance Good?

Yes, SBI Life Insurance is good. The SBI Life Insurance Company provides the best life insurance policy at reasonable premiums. The Company offers life insurance cover and an excellent claim settlement ratio to secure your family and it will help to protect your loved ones even after death. The claim process is extremely hassle-free and quick. It provides a wide range of individual and group life insurance products to their customer and critical illness cover, add-ons, and tax benefits, etc.

Can I Cancel SBI Life Insurance Policy?

Yes, you can cancel SBI Life Insurance. It will depend on the type of policy holding. You can either surrender your policy or stop paying the premiums at any time, and no need to pay a cancellation fee to the insurance company.

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