SBI Life Insurance Surpasses LIC : In a surprising turn of events, SBI Life Insurance has overtaken the Life Insurance Corporation of India (LIC) in several key performance metrics. For decades, LIC held the top position in India’s life insurance sector, trusted by millions. However, changing market dynamics, customer preferences, and innovative offerings have propelled SBI Life into the spotlight. This shift holds massive implications for policyholders and everyday investors. If you’re looking for reliability, returns, and relevance in your insurance choice, now is the time to pay attention.
What Does SBI Life’s Rise Mean for You?
As SBI Life Insurance surpasses LIC in several benchmarks, the common man stands to benefit greatly. This change signifies a shift in trust, service quality, product variety, and long-term value.
Why SBI Life is Gaining Momentum Over LIC
SBI Life Insurance is backed by the strong reputation of the State Bank of India. With a clear customer-first approach, it has revamped how insurance is perceived and delivered in India.
- Customer-Centric Products: Tailored to diverse needs including savings, protection, retirement, and child education.
- Higher Claim Settlement Ratio: Instills greater trust and peace of mind.
- Innovative Digital Services: Easy access to policies and claims through online portals and mobile apps.
- Attractive Returns on Investment-Linked Policies: Appeals to younger policyholders.
- Transparent Process: Clear terms and fewer hidden charges.
Here’s a look at how SBI Life is outshining LIC in several areas:
Comparative Table: SBI Life vs LIC
| Features | SBI Life Insurance | LIC (Life Insurance Corporation) |
|---|---|---|
| Claim Settlement Ratio | 98.76% | 98.52% |
| Premium Collected (FY 2023-24) | ₹62,000 crore+ | ₹59,000 crore+ |
| Product Variants Available | 35+ | 25+ |
| Online Services Availability | High – Full Digital Journey | Moderate – Partial Digitization |
| Return on ULIP Policies | Up to 16% | Up to 12% |
| Policy Issuance Speed | Within 48 hours | 5-7 working days |
| Customer Satisfaction Index | 90%+ | 82% |
| Renewal Rate | 87% | 78% |
See More : SBI Life Insurance Surpasses LIC
Major Benefits for Policyholders Choosing SBI Life
SBI Life is creating real value for its policyholders through multiple channels. Here’s how:
- Affordable Premiums: Competitive pricing across a range of plans.
- Comprehensive Riders: Enhanced coverage with accidental death, critical illness, and waiver of premium options.
- Flexible Premium Payment Terms: Monthly, quarterly, half-yearly, or yearly.
- Loan Facility: Available against selected policies.
- Tax Benefits: Deductions under Section 80C and 10(10D) of the Income Tax Act.
- Wide Network: 1,000+ branches across India and growing digital presence.
- Quick Claim Processing: Ensures families get timely support in their hour of need.
SBI Life’s Product Offerings at a Glance
To help you choose better, here’s a comparison of some key plans offered by SBI Life and their features:
| Plan Name | Type | Key Features | Ideal For | Tax Benefit |
|---|---|---|---|---|
| SBI Life Smart Shield | Term Plan | Low premium, high coverage | Young professionals | Yes |
| SBI Life Smart Wealth | ULIP | Market-linked returns, wealth creation | Investors | Yes |
| SBI Life Smart Champ | Child Plan | Education-focused, future security | Parents | Yes |
| SBI Life Retire Smart | Pension Plan | Guaranteed income post-retirement | Retirees | Yes |
| SBI Life Saral Jeevan | Simplified Term Plan | No medical test, quick processing | First-time buyers | Yes |
| SBI Life Poorna Suraksha | Term + CI Rider | Covers 36 critical illnesses | Middle-aged individuals | Yes |
| SBI Life Smart Future | Endowment Plan | Life cover with savings | Long-term planners | Yes |
How This Shift Will Impact the Life Insurance Market
With SBI Life taking the lead, the life insurance industry is witnessing:
- Healthy Competition: LIC is now compelled to innovate and improve its offerings.
- Better Services for Customers: More focus on user experience, faster service, and personalized policies.
- Increased Financial Literacy: More people are researching and comparing before buying insurance.
- Rise of Private Players: SBI Life’s success opens doors for other private insurers to gain trust.
SBI Life vs LIC: The Performance Snapshot
Another comparison table focused on recent growth metrics:
| Parameter | SBI Life (2023-24) | LIC (2023-24) |
|---|---|---|
| Market Share in Private Sector | 23.3% | Not Applicable |
| Total Policies Issued | 15.6 lakh | 13.2 lakh |
| Solvency Ratio | 2.33 | 1.87 |
| Profit After Tax | ₹1,800 crore+ | ₹1,520 crore+ |
| Asset Under Management | ₹2.5 lakh crore+ | ₹42 lakh crore+ |
| Number of Agents | 2.1 lakh | 13.5 lakh |
| Digital Policy Sales (%) | 38% | 9% |
What Should You Consider Before Making the Switch?
Before choosing SBI Life over LIC or vice versa, evaluate your needs:
- Insurance Goals: Protection, wealth creation, retirement, or child education?
- Budget & Premium: Can you sustain the policy in the long run?
- Policy Flexibility: Does it allow changes in premium frequency or tenure?
- Claim Settlement History: Choose a company with a hassle-free track record.
- Rider Options: Critical illness, disability, waiver of premium – check availability.
How to Buy SBI Life Policies?
Buying a policy from SBI Life is simple:
- Visit the official SBI Life website.
- Use the plan calculator to estimate coverage and premium.
- Compare plans based on your life goals.
- Apply online and submit required KYC documents.
- Pay premium and get policy within 48 hours (subject to approval).
Alternatively, you can visit any SBI branch or authorized agent for personalized support.
The fact that SBI Life Insurance has surpassed LIC in several performance areas signals a new age for India’s insurance landscape. For everyday Indians, this means access to more flexible, affordable, and transparent insurance solutions. Whether you’re looking for pure protection or wealth creation, SBI Life has a variety of offerings to match your goals. However, always analyze your own needs before buying any policy.
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I like service and hospitality.
SBI converts the maturity claims of LIC policy holders into their new policy as LIC policy holders have mostly opted SBI as their bankers and the maturity claims from LIC are settled to SBI savings bank customer accounts. So they compulsory convert them into new policies.
SBI life is a private company in which SBI have shares.
There is no guarantee.
Where as LIC is owned by government of India.
Total funds in LIC is above 50 lakhs crores which is above the GDP of Pakistan.
I like service and hospitality.
SBI converts the maturity claims of LIC policy holders into their new policy as LIC policy holders have mostly opted SBI as their bankers and the maturity claims from LIC are settled to SBI savings bank customer accounts. So they compulsory convert them into new policies.
Sbi life ki policy bank manager karte hai loan Dene ke nam par
Sbi life ki policy bank manager karte hai loan Dene ke nam par
SBI Life me se SBI ka bank ka backing hata lo to ek mah me result dikhega.
Poora Bank aur crores of readymade customer jinke pas hai wah tarakki karne ke lie 25 varsh le to bat samajh me aa jati hai.
SBI life insurance company limited
It is a branded company of State Bank of India.
It is not the branded company of SBI it is the joint venture of SBI and Cardif LIFE and ,BNP Paribhasha .
It is totally a pvt ltd company while LICI is a govt owened company.
SBI life insurance company limited
It is a branded company of State Bank of India.
It is not the branded company of SBI it is the joint venture of SBI and Cardif LIFE and ,BNP Paribhasha .
It is totally a pvt ltd company while LICI is a govt owened company.
Nice Company
Sbi Life insurance
Nice Company
Sbi Life insurance
LIC RANKED 3RD AND SBI LIFE RANKED 76TH IN THE WORLD RANKS. THIS SHOWS WHICH IS DOING BEST. A NUMBER OF COMPLAINTS ARE PENDING AGAINST SBI LIFE WITH IRDAI AND ON MANY OCCASIONS SBI LIFE CHARGED PENALTY BY THE REGULATOR IRDAI AGAINST MIS SELLING OF PRODUCTS. THIS COMMUNICATION IS ALSO A MIS COMMUNICATION BY NOT GIVING THE DETAILS OF COMPLAINTS AND PENALTIES IMPOSED.
LIC RANKED 3RD AND SBI LIFE RANKED 76TH IN THE WORLD RANKS. THIS SHOWS WHICH IS DOING BEST. A NUMBER OF COMPLAINTS ARE PENDING AGAINST SBI LIFE WITH IRDAI AND ON MANY OCCASIONS SBI LIFE CHARGED PENALTY BY THE REGULATOR IRDAI AGAINST MIS SELLING OF PRODUCTS. THIS COMMUNICATION IS ALSO A MIS COMMUNICATION BY NOT GIVING THE DETAILS OF COMPLAINTS AND PENALTIES IMPOSED.
Half information about LIC Strengths are purposely not mentioned or highlighted e.g LiC holds major stake in overall new business every year.Number of claims settled also holds importance.
Half information about LIC Strengths are purposely not mentioned or highlighted e.g LiC holds major stake in overall new business every year.Number of claims settled also holds importance.
Sbi life insurance waste. Don’t trust this website. Most of the information is false. No proper service in SBI life insurance. If we want loan in sbi bank means then they will tell if you take policy in SBI life insurance then only we will give loan like that they will do Blackmail.
Sbi life insurance waste. Don’t trust this website. Most of the information is false. No proper service in SBI life insurance. If we want loan in sbi bank means then they will tell if you take policy in SBI life insurance then only we will give loan like that they will do Blackmail.
Yes u r right, they are blackmailing for sanction loans. They r misselling and this website also misguiding people. Most of the information posted about LIC is false.Just they are promoting SBI for force ful purchase.
It seems to be a paid article.
Kindly do fair evaluation then you will come to know about LIC Vs SBI life.
As per my Knowledge LIC is Far Far better than SBI life.
Yes ..
It seems to be a paid article.
Kindly do fair evaluation then you will come to know about LIC Vs SBI life.
As per my Knowledge LIC is Far Far better than SBI life.
Yes ..
This is purely a nervous syndrome grappling SBI life replete with unethical practices in Newbusiness and claim settlement. If you look at the volume of claims handled by LIC the SBI life stands nowhere nearer to it. It has survived by poaching agents and forced sale of insurance through its branches. The truth prevais.
This is purely a nervous syndrome grappling SBI life replete with unethical practices in Newbusiness and claim settlement. If you look at the volume of claims handled by LIC the SBI life stands nowhere nearer to it. It has survived by poaching agents and forced sale of insurance through its branches. The truth prevais.
LIC POLICIES PURCHASE BY POLICY HOLDER AND S B I POLICY SELL BY BANK WORKER AT THE TIME LOAN AND ALSO THEY GIVE POLICY TO EACH AND EVERY ONE WHO IS THERE ACCOUNT HOLDER.
LIC POLICIES PURCHASE BY POLICY HOLDER AND S B I POLICY SELL BY BANK WORKER AT THE TIME LOAN AND ALSO THEY GIVE POLICY TO EACH AND EVERY ONE WHO IS THERE ACCOUNT HOLDER.
SBI is not playing fair game. Keeping their bank’s brand name, they play the life insurance game. LIC itself is a brand name, grand name. It’s field force work hard to bring business and each n every employee works hard to service the policy holders. LIC not only service it’s customers but shoulders the whole nation ,funding for the nation developing Five year plans. SBI is not an even player for LIC
Very rightly said as above . I do agree with the above statement. SBI is forcing their customers to buy insurance from them .For example every customer of the bank is forced to take accidental insurance and annually premium deducted automatically from the customers account. The bank taking their customers concent for deduction of the premium from their account but do not look in to the matter whether the accident policy documents have been received by the customer or not .
SBI is not playing fair game. Keeping their bank’s brand name, they play the life insurance game. LIC itself is a brand name, grand name. It’s field force work hard to bring business and each n every employee works hard to service the policy holders. LIC not only service it’s customers but shoulders the whole nation ,funding for the nation developing Five year plans. SBI is not an even player for LIC
Very rightly said as above . I do agree with the above statement. SBI is forcing their customers to buy insurance from them .For example every customer of the bank is forced to take accidental insurance and annually premium deducted automatically from the customers account. The bank taking their customers concent for deduction of the premium from their account but do not look in to the matter whether the accident policy documents have been received by the customer or not .
There’s no comparison LIC with any other insurance company. Most trusted brand of insurance cover to a rular policy holder.
There’s no comparison LIC with any other insurance company. Most trusted brand of insurance cover to a rular policy holder.
Sbi staff are major suffering to complete target given by higher officer.
As claims or maturity amount directly credited from lic or any other insurance company to sbi sb account of customer and they by pressure of seniors employs misguide the customer telling insurance is compulsory for the loan and they give simple reason file is hete and there and when sign a proposal form immediately they sanctions the loan.
Even today I am not able to pay two installment of my insurance in SBI because they don’t know where the Insurance company office and in the branch also after one year the person who issued policy is not available. The staff don’t know how proceed it.
So kindly don’t believe what they blackmail you at bank ask them same thing in circular or any notification to take insurance compulsory at SBI.
After generation of policy number in lic, policy is in force and in next any cause happens claims will be settled,but in SBI no option.
Even in parliament finance minister orally announced banking sector should do banking job and don’t pressure customer towards insurance in bank.
Sbi staff are major suffering to complete target given by higher officer.
As claims or maturity amount directly credited from lic or any other insurance company to sbi sb account of customer and they by pressure of seniors employs misguide the customer telling insurance is compulsory for the loan and they give simple reason file is hete and there and when sign a proposal form immediately they sanctions the loan.
Even today I am not able to pay two installment of my insurance in SBI because they don’t know where the Insurance company office and in the branch also after one year the person who issued policy is not available. The staff don’t know how proceed it.
So kindly don’t believe what they blackmail you at bank ask them same thing in circular or any notification to take insurance compulsory at SBI.
After generation of policy number in lic, policy is in force and in next any cause happens claims will be settled,but in SBI no option.
Even in parliament finance minister orally announced banking sector should do banking job and don’t pressure customer towards insurance in bank.
Always compare with comparable. Lic is the best on all aspects.above comparisons made are ruthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Always compare with comparable. Lic is the best on all aspects.above comparisons made are ruthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Always compare with comparable. Lic is the best on all aspects.above comparisons made are ruthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Always compare with comparable. Lic is the best on all aspects.above comparisons made are truthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Always compare with comparable. Lic is the best on all aspects.above comparisons made are truthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Always compare with comparable. Lic is the best on all aspects.above comparisons made are truthless. I am AGENT OF LIC since 50years.so do not fall prey to the above comparison.call ne to know more about LIC
Fraud SBI life…many many claim is return only..Not satisfied with SBI life death claim is worst.
Fraud SBI life…many many claim is return only..Not satisfied with SBI life death claim is worst.
Fraud SBI life…many many claim is return only..Not satisfied with SBI life death claim is worst.
Totally false information by SBI Life. LIC’s figures are compared with all pvt insurance companies together including SBI LIFE. Moreover a lot of complaints are pending against SBI LIFE. One thing I don’t understand is that how SBI LIFE is using the logo of SBI Bank. By it, they are fooling people that they are Govt organisation.
Totally false information by SBI Life. LIC’s figures are compared with all pvt insurance companies together including SBI LIFE. Moreover a lot of complaints are pending against SBI LIFE. One thing I don’t understand is that how SBI LIFE is using the logo of SBI Bank. By it, they are fooling people that they are Govt organisation.
Totally false information by SBI Life. LIC’s figures are compared with all pvt insurance companies together including SBI LIFE. Moreover a lot of complaints are pending against SBI LIFE. One thing I don’t understand is that how SBI LIFE is using the logo of SBI Bank. By it, they are fooling people that they are Govt organisation.
Friends,,
SBI is owner of SBI Life,,
One thing ,,the Maturities of LIC policies are diverted by SBI Life,,Actually SBI will not have control of the Maturity payments of LIC,,
Forced selling to loanees: Then how could SBI Life maintain the Persistency?
and it verifies with every policy holder about what is told…
Conclusion is SBI Life offers need based ULIP, Traditional and Guaranteed policies,,
Superior service by 100% Digital mode,,
Friends,,
SBI is owner of SBI Life,,
One thing ,,the Maturities of LIC policies are diverted by SBI Life,,Actually SBI will not have control of the Maturity payments of LIC,,
Forced selling to loanees: Then how could SBI Life maintain the Persistency?
and it verifies with every policy holder about what is told…
Conclusion is SBI Life offers need based ULIP, Traditional and Guaranteed policies,,
Superior service by 100% Digital mode,,
SBI IS THE OWNER BUT SBI WILL NOT GIVE GUARANTEE OF THE RETURN OF THE PRODUCTS OF SBI LIFE. NUMBER OF COMPLAINTS ARE PENDING AGAINST SBI LIFE ON MISSELLING OF THE PRODUCTS BY SBI/SBI LIFE.
Friends,,
SBI is owner of SBI Life,,
One thing ,,the Maturities of LIC policies are diverted by SBI Life,,Actually SBI will not have control of the Maturity payments of LIC,,
Forced selling to loanees: Then how could SBI Life maintain the Persistency?
and it verifies with every policy holder about what is told…
Conclusion is SBI Life offers need based ULIP, Traditional and Guaranteed policies,,
Superior service by 100% Digital mode,,
SBI IS THE OWNER BUT SBI WILL NOT GIVE GUARANTEE OF THE RETURN OF THE PRODUCTS OF SBI LIFE. NUMBER OF COMPLAINTS ARE PENDING AGAINST SBI LIFE ON MISSELLING OF THE PRODUCTS BY SBI/SBI LIFE.
This report is biased and wrong..LIC completed around 2 crore policies in 2023-24..This news is totally fake….LIC is world 3rd most trusted brand. LIC keeps customer satisfaction on high priority.
This report is biased and wrong..LIC completed around 2 crore policies in 2023-24..This news is totally fake….LIC is world 3rd most trusted brand. LIC keeps customer satisfaction on high priority.
This report is biased and wrong..LIC completed around 2 crore policies in 2023-24..This news is totally fake….LIC is world 3rd most trusted brand. LIC keeps customer satisfaction on high priority.
It is the result of pressure tactics where bm of sbi plays a major role. A company with lot of miselling . I have a personal experience.
It is the result of pressure tactics where bm of sbi plays a major role. A company with lot of miselling . I have a personal experience.
It is the result of pressure tactics where bm of sbi plays a major role. A company with lot of miselling . I have a personal experience.
Totally mis propaganda, sbi life is loan life insurance, you forgot to mention the lapsation ratio of SBI . Once My wife went for PL in SBI, after loan approval they were insisting for Insurance in SBI life. 99% falls into the prey despite of their unwillingness . IRDA should take strong action against such nis-seling . Also the above data is misguided and misinterpreted.
Totally mis propaganda, sbi life is loan life insurance, you forgot to mention the lapsation ratio of SBI . Once My wife went for PL in SBI, after loan approval they were insisting for Insurance in SBI life. 99% falls into the prey despite of their unwillingness . IRDA should take strong action against such nis-seling . Also the above data is misguided and misinterpreted.
Totally mis propaganda, sbi life is loan life insurance, you forgot to mention the lapsation ratio of SBI . Once My wife went for PL in SBI, after loan approval they were insisting for Insurance in SBI life. 99% falls into the prey despite of their unwillingness . IRDA should take strong action against such nis-seling . Also the above data is misguided and misinterpreted.
SBI life insurance has got innovative schemes
Covering children, professionals, Youth, salaried persons, women etc.
Its a shell company fit for nothing I can prove this right on there face
SBI Life is PURELY Fraud and 420 Company.
And LIC is the Most Genuine Company.
I have a Proof with SBi Life.
10Lac and above in sbi life is Not that Much easy and in LIC 1Crore Claim also within 24 Hrs LIC can Claim
Since the results of financial year 2024/25 is yet to be published. This is false information SBI is posting. In fact they are not giving good service in their own domain ie Banking Sector.
So be aware before you buy any Life Policy from the company other than LIC, the best organisation in finance sector.
Sbi life is the worst service provider this article is fake as I have been dragged into this with false projections and worst service by SBI life you can’t speak are communicate through email aswell on any of your policy related issues only renewal call you get around 20 calls per day if your policy is quarterly 30 days on an average 20 call per day, you can’t check the loan statues and closure amount even at there brach it will take minimum 10 days and the employees and the management treat the customer like a fool not as a king to get back your original policy after closure of loan you have to wage a war against them else you will not see your documents again no one is able to take responsibility even the top management, if you have serious issues in your policy they are least bothered even high risk policy it’s not worth it compared to lic overall it’s not worth wasting your money time energy with this bunch of Idiots
Since the results of financial year 2024/25 is yet to be published. This is false information SBI is posting. In fact they are not giving good service in their own domain ie Banking Sector.
So be aware before you buy any Life Policy from the company other than LIC, the best organisation in finance sector.
Since the results of financial year 2024/25 is yet to be published. This is false information SBI is posting. In fact they are not giving good service in their own domain ie Banking Sector.
So be aware before you buy any Life Policy from the company other than LIC, the best organisation in finance sector.
The information provided by you is biased. SBI life has a readymade customer base of SBI. Even in the RRBs sponsored by SBI have targets of doing Insurance, on the other hand RRBs were established for increasing the financial inclusion. Majority of insurance issued by SBI lapses after 1st premium coz they issue policies on the pretext of disbursing Loans. And, never underestimate the Sovereign Guarantee given by GOI to LIC.
Sbi life is the worst service provider this article is fake as I have been dragged into this with false projections and worst service by SBI life you can’t speak are communicate through email aswell on any of your policy related issues only renewal call you get around 20 calls per day if your policy is quarterly 30 days on an average 20 call per day, you can’t check the loan statues and closure amount even at there brach it will take minimum 10 days and the employees and the management treat the customer like a fool not as a king to get back your original policy after closure of loan you have to wage a war against them else you will not see your documents again no one is able to take responsibility even the top management, if you have serious issues in your policy they are least bothered even high risk policy it’s not worth it compared to lic overall it’s not worth wasting your money time energy with this bunch of Idiots
Sbi life is the worst service provider this article is fake as I have been dragged into this with false projections and worst service by SBI life you can’t speak are communicate through email aswell on any of your policy related issues only renewal call you get around 20 calls per day if your policy is quarterly 30 days on an average 20 call per day, you can’t check the loan statues and closure amount even at there brach it will take minimum 10 days and the employees and the management treat the customer like a fool not as a king to get back your original policy after closure of loan you have to wage a war against them else you will not see your documents again no one is able to take responsibility even the top management, if you have serious issues in your policy they are least bothered even high risk policy it’s not worth it compared to lic overall it’s not worth wasting your money time energy with this bunch of Idiots
It is totally a biased story. There is no reply from the author for the comments posted. Instead of answering the comments, this biased article is being spread by the author/amritavidyalayam.in. What are the reasons ?.
It seems it is a paid article by amritavidyalam.in becoz they are circulating this article every day without answering the replies posted by the readers. But those who are in Insurance industry can Definitely tell, it is a paid article. Don’t believe the contents of the article which are totally misguiding.
एलआईसी और एसबीआई का कोई कंपैरिजन ही नहीं है एलआईसी का कार्य उसके महंती एजेंटों द्वारा जरूरतमंद लोगों को Policy देने से आता है एलआईसी का एसबीआई से कहीं कंपैरिजन ही नहीं बनता है। और एसबीआई Life एक लिमिटेड कंपनी है। एसबीआई bank केवल उसमें एक पार्टनर है।
SBI life is worst life insurance, as seen in last 20year, i surender my policy in 24th March 2025 at Balasore Odisha. But I chasing them every day to get the money in my account, there staff, name call Nandi, commited with 5 working day i will get the money, after 5th day completion, he was not responding my call, and visit branch, they told, i will get the amount within 7day. Now 8th day completed, amount not came to my account, again they are not responding my call. I am suffering to get the payout after surrender, can anyone help me get it,