Features of SBI Life Group RinN Raksha product in brief

SBI Life - RiNn Raksha, a group credit life insurance plan. Coverage is offered against Wide variety of loans including Housing Loans, Car Loans, Agricultural Loans, Educational Loans and Personal loans.

What is the process for payment of Renewal Premium?

The premium has to be remitted to SBI Life through the Master Policy Holder for Bank Paid cases. For Self Paid cases, premium to be remitted by Life Assured either directly to SBI Life offices or through ECS registration with us. A grace period of 15 days from premium due date for monthly premium mode and 30 days from the premium due date for annual, half yearly and quarterly premium modes will be allowed for payment of premiums. If any premium remains unpaid at the end of the grace period, the policy shall lapse.

What is a Certificate of Insurance (COI)?

COI (Certificate of Insurance) is a proof of contract between group member and insurer. It contains details about the Life Assured, life cover and other terms and conditions of contract.

I have not received my COI / lost my COI can I get a duplicate?

You can contact the nearest SBI Life Processing Centre for a duplicate copy of the COI.

What is the procedure for updating the address?

The communication address can be changed by submitting the below mentioned documents at your nearest SBI Life branch:
1.   'Request for Change in Contact details’ duly filled and signed by the policyholder.
2.   Original Photo ID proof for verification eg. PAN card, driving license, voter ID, passport, aadhar card, valid defence ID card.
3.   Self attested address proof (within 6 months of the change request) eg. copy of electricity bill, copy of latest telephone bill, recent bank A/C statement, valid lease agreement with rent receipt (last 3 months), letter from a recognized public authority, employer's certificate or copy of ration card.
4. Original proof of new address to be produced for verification.

What is the procedure to change my contact details?

Contact details in a policy can be updated/changed by sending 'Request for Change in Contact details'(Format available in ”Download” option) duly filled and signed by the policyholder to the nearest SBI Life Branch.

What is process to revive my lapsed policy?

Revival is permitted within 2 years from the first unpaid premium. The policy can be revived within 2 years from the first unpaid premium payment due date subject to receipt of arrears of premium including interest and Health requirements. Please contact your nearest SBI Life Processing Centre for a revival quotation or write to us at info@sbilife.co.in

Can I surrender the policy before the end of the policy term and what will be surrender value?

Surrender of policy will defeat the purpose of a life insurance policy and hence should be avoided except in case of unavoidable circumstances.

What are the documents required for changing my address details?

The request for change in address / other alterations (Format available in “Download” option) needs to be submitted along with address proofs to the nearest SBI Life Office.

How to change/update my email or contact details?

You can change your email or contact details after clicking Update Profile tab >> Update Mobile /Update Email ID tab.

How can I pay the premium?

The premium has to be remitted to SBI Life through the Master Policy Holder. In case Standing Instruction is given, the premium will be directly debited from your account. Premiums should be remitted within the grace period of 30 days from the due date beyond which the life cover will lapse.

How can I get the Premium Paid Certificates?

You can download Premium Paid Certificates under the tab “Premium Paid Certificate” wherein premium receipts can be generated financial year wise.

How would I know if my cheque/draft submitted for renewal premium due is dishonoured?

You would receive your dishonoured instrument at the address mentioned in the membership form, accompanied by a letter informing you the same and also about the charges levied for the dishonour action.

What is the minimum period for surrender?

Please refer Certificate of Insurance document in order to know surrender details under your policy.

What will I receive at the time of maturity?

Please refer the policy schedule in order to know the maturity details under your policy.

What are the documents required to surrender a policy?

Surrender application form duly filled & signed, pre printed cancelled cheque copy /Bank Passbook copy and Certificate of Insurance.

Where can the surrender request be submitted?

The surrender request can be submitted to the nearest SBI life Office.

What is the contact point for any queries?

You may contact us at info@sbilife.co.in or nearest SBI Life Office or send an SMS ‘SOLVE’ to 56161.

What is the process to revive my lapsed policy?

To know the details regarding revival of your policy, kindly contact your nearest SBI Life Processing Centre or write to us at info@sbilife.co.in

Can I extend the Cover under my Swarna Ganga Scheme after retirement?

Extension of cover is applicable under Old Swarna Ganga Scheme for State Bank of India & State Bank of Mysore Employees. The Member can continue his/her cover after retirement for further period of 5 years.