How to download SBI Life Insurance premium receipt?

SBI Life Insurance, a joint venture between the State Bank of India and BNP Paribas Cardif, is among India's leading life insurance providers. It offers a comprehensive suite of insurance products, including term plans, ULIPs, retirement plans, and child plans, catering to diverse financial needs. With a focus on customer-centricity and technological innovation, SBI Life Insurance ensures seamless policy management and premium payments through online platforms. Committed to excellence and trust, it continues to safeguard the financial well-being of millions across India.

The BBPS platform on Bajaj Finserv allows you to securely pay your insurance premium online from the comfort of your home. You can pay premium payments using debit/credit card, UPI, Bajaj Pay Wallet, and net banking.

Learn how SBI Life Insurance customers can conveniently pay their premiums online and access their premium receipts. Discover the simple steps to obtain your SBI Life Insurance premium receipt online.

Steps to view and download SBI Life Insurance premium payment receipt on Bajaj Finserv

If you have made your insurance premium payment on Bajaj Finserv then you can follow these steps to view your payment receipt:

1. Open the Bajaj Finserv app on your phone
2. Login using your credentials
3. Click on ‘PASSBOOK’ option under Bajaj Pay
4. Locate your premium insurance payment transaction under ‘BILLS AND RECHARGES’
5. Click on ‘VIEW’ option to see the payment receipt
6. If you wish to save the receipt, click on the ‘DOWNLOAD’ button.

Steps to view and download SBI Life Insurance premium payment receipt via SBI Smart Care Portal

Here are the steps to download a copy of the SBI Life Insurance premium receipt from the SBI Smart Care portal:

1. Log in to the SBI Smart Care portal
2. Click on the ‘POLICY DOCUMENTS/STATEMENTS’ option
3. Select the ‘PREMIUM PAYMENT ACKNOWLEDGMENT’ option
4. Enter your policy number and date of birth in the provided fields
5. Click on the ‘GET ACKNOWLEDGEMENT’ button
6. Locate the digital copy of your premium payment acknowledgment
7. Click on the ‘DOWNLOAD’ button to download a copy of the SBI Life Insurance premium receipt for your records

Tax advantages of SBI Life Insurance policy

SBI Life Insurance provides a way to secure your family’s financial future while enjoying tax benefits. Here is how the SBI Life Insurance policy helps in tax saving:

Deduction of premiums paid:

The premium you pay for life insurance policies, including unit-linked plans, is deductible from your total income. This deduction helps lower your taxable income.

Exemption on lump sum payouts:

The lump sum amount paid to the beneficiary upon the policyholder’s death is also eligible for tax exemption under section 10 (10D) of the Income Tax Act.

Additionally, the proceeds received by the nominee on the policyholder’s death are exempt from tax.

Conclusion

SBI Life Insurance offer convenient digital platforms for premium payment and receipt retrieval. Through Bajaj Pay, customers can securely pay premiums using various methods. Similarly, SBI Smart Care portal allows easy access to premium payment receipts. Both platforms reflect a commitment to customer satisfaction and technological advancement, ensuring policyholders can manage their insurance needs seamlessly. This dedication to convenience and innovation underscores their role in safeguarding the financial interests of millions across India.