FAQs 214 views March 6, 2020

SBI Life is considered to be one of the fastest-growing private life insurance companies in India. It offers some fantastic life insurance covers such as term life plans and endowment insurance plans. All the plans can be bought online in a safe, quick and affordable manner. When you buy your life cover online, you also receive the premium payment receipt online. It is important to download this document and keep a copy with yourself. Let us find out why this is vital in the article below.

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The SBI Life Insurance Premium Receipt Download process

Before we talk about the importance and significance of the SBI Life Insurance Premium Receipt Download process, let us see how it is done:

  1. Log on to the portal of SBI Life Insurance, either on your desktop or any mobile device. You can access the insurer’s app or website for this purpose.
  2. Enter your policy number as well as your date of birth.
  3. Go over the digital copy and check for errors.
  4. Get the errors rectified, if any.
  5. Save and print a copy of the SBI Life Insurance Premium Receipt.

The process is actually this simple and barely takes a few seconds to complete.

Benefits of SBI Life Insurance Premium Receipt Download

Now let us look at the benefits of downloading the receipt:

  1. Helps you to file your taxes properly as a tax rebate is available for the life insurance premium paid. You need to show the receipt to prove you have paid the premium and get the tax benefit thereafter.
  2. Helps you to prove that the premium is paid and the life insurance cover is valid. This is another very important benefit of having a copy of the receipt with you.
  3. Helps your family to make a life insurance claim after you die. Unless this document is present, the nominee cannot prove the cover is active and get the claim quickly and easily.

These are the benefits of downloading the SBI Life Insurance Premium Receipt.

Conclusion

The downloading of SBI Life Insurance Premium Receipt is a free and quick process. Get it done if you have not done so already.

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