Introduction- SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.
Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.
SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,011 offices, 23,998 employees, a large and productive individual agent network of about 236,978 agents, 73 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 148 brokers and other insurance marketing firms.
In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.
SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2022-23, the Company touched over 1.1 lakh direct beneficiaries through various CSR interventions.
Listed on the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’), the company has an authorized capital of Rs. 20.0 billion and a paid up capital of Rs.10.0 billion. The AuM is Rs. 3,451.5 billion.
OBJECTIVES =
(A) Investment Objectives: The investment objectives of the Company are to maximize the risk adjusted returns and ensure reasonable liquidity at all times. Management of the investment portfolio is a crucial function as investment risk and returns, inter alia, determine the ability of the Company to competitively price its products, ensure solvency at all times and earn the expected profitability. The investment policy outlined in this document seeks to set the direction and philosophy for the Company’s investment operations. The Policy outlined below conforms to the IRDAI Investment Regulations and the Insurance Act. The Policy covers investment parameters, exposure norms and other relevant factors that will assist in taking prudent investment decisions. The Policy framework also takes into account asset liability management, market risks, portfolio duration, liquidity considerations, and credit risk. To summarize the investment policy aims to achieve the following Investment Objectives:
- a) To acquire and maintain quality assets that will meet the liabilities accepted by the Company;
- b) To be able to meet the reasonable expectations of the policyholders taking into account the safety of their funds with optimum Return;
- c) To adhere to all Regulatory provisions;
- d) To conduct all the related activities in a cost effective and efficient manner; and
- e) To achieve performance in line with benchmarks identified for the different investment portfolios. The Company has also defined the Investment Objectives for each Fund separately, on the basis of aforesaid broader Investment objectives.
(B) Investment Vision: “To invest the funds on the prudent principles of Safety, Liquidity & Returns, with an overall vision of meeting reasonable expectations of policy holders”. Source: SBI Life Investment Polio.
Views and Reviews =
Akshay- I am very much upset with the SBI life insurance, I have paid 1.5 lakhs for ten years and the amount received is 1.1 lakh. I called SBI representatives, and they said your age is above 60 so you will receive only 1 lakh with this policy. What is use of paying 1.5 lakhs for 10 years. SBI is literally cheating people. Fraud company, my sincere suggestion is to no to take any policy with SBI.
Alok Sinha- I purchased SBI life 10 years back at the insistence of bank manager at Prashant Vihar, Delhi branch. I kept paying 1 lake every year. I tried many times to find out the fund value, but they keep it as closely guarded secret. However, I thought SBI’s reputation and continued with it. Now after. Maturity they have paid me 1002300. All other bank life. insurance plans like ICICI prudential, Kotak, Max, all are paying handsome returns.
Srini – From my experience SBI Life is the worst in service providing and customer service. I made a cancellation of my existing policy on June 2021, and they promised that the refund will be done within 7 working days. But as per now, Nov 8, 2021, the refund is not credited. I call them more than a dozen times, and, in every enquiry, they are promising that it will be credited within a week. If you have a option, for god sake, don’t deal with this robbers.
Data Conclusion= Date from 1st November 2022 to 31st October 2023 is downloaded from NSE India Friday closing price have been found out. Weekly return of the Nifty and SBI Life Insurance is calculated. Weekly return of Nifty is X and weekly return of SBI Life Insurance is Y.
Conclusion = Beta is -0.02022 is less than 1 it means SBI Life Insurance is good for long term investment.
Reference = http://www.nseindia.com/
https://www.mouthshut.com/product-reviews/SBI-Life-Insurance-reviews-925062223
https://www.sbilife.co.in/en/about-us
https://www.sbilife.co.in/Market-Review-and-Future-outlook—June-2018