Key Features of SBI Life Swarna Ganga

SBI Life Swarna Ganga is a Group Saving Linked Insurance Scheme. The product offers twin benefit of life cover with an advantage of accumulating savings.

How can I pay my premium?

In case of Employer Employee schemes the premium will be debited from your salary / paid by the master policy holder. In case of scheme offered to Defence Staff the premium will be collected from the bank account on the due date. Being a Group Policy the premium has to be routed through the Master Policy Holder.

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 to change my address / contact details?

The request for change in address / other alterations ( Format available in ”Download” option) along with necessary proofs should be sent to the nearest SBI Life Processing Centre.

What is process to revive my lapsed policy?

Revival is permitted within 6 months from the first unpaid premium. Revival is subject to submission of a “Declaration of Good Health” along with arrears of premium and interest. Please contact your nearest SBI Life Processing Centre for a revival quotation or write to us at info@sbilife.co.in

What will I receive at maturity of policy?

The accumulated savings amount along with interest will be paid at the time of maturity.

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.
The customer can withdraw the policy on his exit from the “Group”. The accumulated Surrender value along with interest will be paid to on surrender. Policy once surrendered cannot be reinstated.

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.