Frequently Asked Questions [Hide]


How do I generate a premium receipt for submission at my office to claim Income Tax benefits?

The first premium receipt will be a part of the policy kit dispatched to you once the policy is issued. Also, on successful payment, an online acknowledgement is generated, which can be printed.

While making a payment, the browser froze/ hung, but my credit card has been debited with the premium amount. What should I do?

We apologise for the inconvenience caused. Kindly get in touch with us on our toll free no: 1800 22 5354. Alternatively, you can email us on with your Quotation ID, first name, last name, date of birth, date of transaction and contact number. Our concerned executives will get in touch with you.
SBI Life - eShield is offered Online only. You can only pay through Debit / Credit card or through Internet Banking mode.

If you wish to take the policy through cheque payment (offline mode), there are other plans which can be purchased through our insurance advisors, distributors or the State Bank Group bank branches. We would be glad if you could provide us your details and our representative will be happy to guide you through the purchase of those term plans . You can write to us at

If my age changes before the acceptance of my proposal, will I have to pay premium as per my new age?

The premium we collect depends on the age as on date of acceptance of the proposal. Hence, any time after the first premium amount paid and before the acceptance of the proposal, if your age changes then you may be required to pay the revised premium as per the new age.

How do I pay the revised premium as per my new age, incase my age changes between the time I submit my proposal and its acceptance by SBI Life?

We will inform you through email the amount of shortage to be paid. You can click the link specified in the email, sent to the email id registered with us in your proposal form, and pay the balance amount by selecting any one of the options in the payment mode.

When and how do I pay my future premiums?

The due dates for premium payment are mentioned in your Policy Document.

However, it is recommended that you give us a Direct Debit / ECS Mandate / Standing Instruction for automatic premium debit from your Bank Account / Credit Card.

Complete details of various options towards making future Renewal Premium payments are available on the link:

You are required to pay the Premiums on or before the Premium due dates.

Will there be any change in the premium once my policy is accepted by SBI Life?

No, there will not be any change in basic premium during the entire term of the contract once the proposal is accepted.

Can I pay premiums in any other currency?

No. All quotations are in Indian Rupees (INR) and premiums are accepted only in INR.

Under what circumstances can I be charged additional premium?

Factors such us tobacco consumption in any form, adverse health condition, risky activities like adventurous sports, occupation, etc. might increase your premium.

Will I be given the reason for why an additional premium is charged?

Yes, you will be intimated about the reason, the amount of additional premium charged and the difference of premium that you have to pay prior to commencement of Insurance Cover.

Why should I pay additional premium for tobacco consumption?

The premium pricing is based on smokers and non-smokers. Consumption of tobacco in any form (cigarette / beedis / gutka / pan) in the last 5 years will be considered as smokers and will warrant smoker rates premium. Based on the information in the proposal form and the medical underwriting, incase we find that you consume tobacco; you could be required to pay smoker rates.

Why should I pay the Health Extra Premium?

Certain factors like diabetes, hypertension, poor general health, over weight and some pre-existing health conditions will warrant additional premium known as Health Extra Premium. This increase in standard premium rates is done through loading in the premium if there is any adverse factor as illustrated above. The extent of loading depends on the severity of the condition.

How do I pay the additional premium for Health Extra, Smoker Rate, etc?

In the email sent to you, on your email ID registered with us on your proposal form, about the additional premium for health extra, you have to first select the option to agree for the additional premium. Once you select this option the payment option will get highlighted and you can pay the additional premium by selecting any one of the payment mode.

For additional premium on smoker rates, you will have to give your consent and pay the additional premium by selecting any one of the payment modes.

I agree to the additional premium for smoker rates but can I pay it at a later date?

No. Full premium amount, including any extra premium is payable for acceptance of the insurance proposal.

What should I do to reduce the Sum Assured / Cover in order to compensate for the additional premium due to be paid by me, due to my health condition ?

If you agree for the additional premium charged you can either pay the additional premium or reduce the cover to such an extent that you need not pay the additional premium. For reducing the Sum Assured, you only have to send an email to us, from the email ID registered with us on your proposal form, stating your consent for both the additional premium and reduction in Sum Assured.

Is the additional premium due to my health condition, a onetime payment?

No. The additional premium charged is not a onetime payment. This premium will be added to your basic premium and this will constitute the revised premium which you have to pay for the remaining term of your policy.

What are the premium payment modes available?

The Premiums can be paid in annual mode only.

If premium is not paid on time, how will it affect the policy?

If premiums are not paid within the grace period the policy will lapse. The policy may be reinstated for full benefits within two years from the date of the first unpaid premium. However, the life cover during the lapsed period would not be available.

What are the different premium payment modes under SBI Life - eShield?

Only Annual mode of premium payment is allowed.