Mypolicy-SBI Life Client Self Solution Portal - SBI Life Insurance
Q. What is my Client ID?
A. Please refer the plan document to know your client ID/No.
Q. Does one need to produce separate MyPolicy represent each of the plan?
A. No, if the client ID is same you can register plan under one login name. Client ID coincides for plans coming from the same life guaranteed.
Q. If obtaining mistake "Void plan number"?
A. Please enter the alphabet in funding letter for plan number having actually alphabet.
Q. What should be provided for the mistake "This Plan is currently registered"?
A. It means your various other plan with the same client ID is registered under MyPolicy. Please try login keeping that particular login information and enroll the plan by following the mentioned course: MyPolicy >> Enroll plan
Q. Forgot Login name?
A. To recoverlogin name : Kindly click "Forgot login name".Enter plan number > Day of Birth> Select tip questions or Client id.You would certainly receive the Login Name on the Registered E-mail ID
Q. Forgot password?
A. To reset password again: Click "Forgot password".Enter Visit name, client ID or Tip question & answerYou would certainly receive the Reset Password link on your registered E-mail I
Q. Is the captcha is confusing?
A. If the captcha is confusing you can click reset captcha to obtain an alternating captcha picture and use the same to login, one can reset the Captcha any variety of times.
Q. How do I enroll all my plans?
A. To enroll the plan under one login, client ID, plan owner name & day of birth must be same. Please confirm the information.
Q. Can one enroll his wife's / children / family members plans?
A. Enrollment of wife's / children / family members plans isn't enabled.
Q. Where can one find more information about a Plan?
A. You can click the Plan no. to view the various information about Plan Information, Client Information, Plan cover information, Payment recap, Money Worth, Maintenance Background, Bonus information.
Q. How can one upgrade the Frying pan Number under the plan?
A. You can upgrade by logging in your My Plan account >> Account Related >> Upgrade PAN Number.Additionally, you can send out the listed below SMS from your registered mobile number.
PAN << space >> (Plan Number)<< space >> << PAN Number >> to 56161 or 9250001848.
Q. How can one upgrade E-mail ID under the plan?
A. You can upgrade by logging in your My Plan account >> Account Related >> Upgrade E-mail ID.Additionally, you can send out the listed below SMS from your registered mobile number.
MYEMAIL << space >> (Plan Number) << space >> << New E-mail id >> to 56161 or 9250001848
Q. How can one upgrade my address?
A. You can upgrade your Address by logging to MyPolicy account >> Transact Online >> Change of Address >> and follow the process.Ensure address evidence remains in PDF/JPE style and not greater than 400 kb.
Q. How can one upgrade Financial institution Account?
A. You can upgrade your financial institution a/c information by logging in your My Plan account >> Transact Online>>Update Financial institution A/c information and follow the processEnsure checking account evidence remains in PDF/JPE style and not greater than 400 kb.
Premium Related
Q. Where can one obtain a comprehensive bifurcation of costs?
A. The detailed Bifurcation of costs can be given up ULIP and variable Plans just. You can produce a Unit orgasm Shift declaration to inspect your Premium bifurcation on My Policy>> Deal orgasm unit declaration.
Q. Where can one obtain the information of all the cash/premium paid?
A. You can click the payment recap to know the complete information of the premium paid till day. You might also download and install the Premium paid certification monetary year smart to know the complete information of all the Costs paid till day.
Q. How can I know about a dual payment done by me?
A. You can contact us at mysupport@sbilife.carbon monoxide.in
Q. What should one do if the payment isn't reflecting after production a repayment?
A. Information of the newest payment in the Payment recap web page can be viewed after 2 days from the day of payment. Revival premium invoice can be viewed after 3 functioning days from the day of premium allotment on the due day.On non-availability you can contact us at mysupport@sbilife.carbon monoxide.in
Q. What is premium due day?
A. Due day describes the first non-payment of plan premium by the policyholder. On payment of the due premium, an invoice is issued and this invoice suggests the day of next premium due.
Q. What is elegance duration?
A. Premium can be paid within the elegance duration of thirty days for Quarterly, Semi-Annual & Yearly setting & 15 days for monthly setting plans which is simply a center provided by an insurance provider so that benefits of the plan proceed.
Q. Where can one obtain the information of all the cash/premium paid?
A. You can click the payment recap to know the complete information of the premium paid till day. You might also download and install the Premium paid certification monetary year smart to know the complete information of all the Costs paid till day.
Q. Is rate of passion billed throughout elegance duration?
A. Rate of passion isn't billed throughout the elegance duration but if the premium is paid after the elegance duration, rate of passion is billed from due day.
Q. Where can one find the next premium due day?
A. First Unsettled Premium (FUP) is your due day, however premium due day are published on your plan document & on last premium paid invoice.
Q. What does it imply if the premium due day isn't showing?
A. Please inspect if the premium paying regard to your plan is complete.
Q. What is the use Premium paid certification?
A. Premium paid certification is required to claim tax obligation benefit.
Q. What is the distinction in between Premium paid certification and revival premium invoice?
A. Premium paid certification reflects the recap of total premium paid throughout the monetary year, whereas premium invoice will reflect the individual information of the premium been paid.
Q. What is the distinction in between Premium paid certification and revival premium invoice?
A. Premium paid certification reflects the recap of total premium paid throughout the monetary year, whereas premium invoice will reflect the individual information of the premium been paid.
Q. Why is my paid premium not reflecting on Premium paid certification?
A. Information of the newest payment in the Payment recap web page can be viewed after 2 days from the day of payment. Revival premium invoice can be viewed after 3 functioning days from the day of premium allotment on the due day.On non-availability you can contact us at mysupport@sbilife.carbon monoxide.in
Q. What is premium due day?
A. Payment information may not reflect in situation premium is paid in advance. However the down payment will be changed towards your premium on the due day and invoice will be produced afterwards.
Q. How can one obtain my previous years Premium Paid Certification?
A. Visit in your My Plan account >> Plan Declarations >> Premium Paid Certification & select the monetary year.
Q. Why is one unable to produce a revival invoice for a paid premium?
A. In situation premium is paid in advance the down payment will be changed towards your premium on the due day and invoice will be produced afterwards.In situation of non invoice of the paid premium past the over mentioned time, you might contact mysupport@sbilife.carbon monoxide.in
Q. Where can one produce Revival premium invoices?
A. Visit in your My Plan account >> Plan Declarations >> Revival Premium Invoice.
Q. What should one do if an on the internet payment deal stops working?
A. If the payment is done online and you obtain a message as "Failing" or in situation recognition isn't produced please verify that the quantity is debited or credited your checking account or Credit card account before retrying for another payment. In situation your account is debited, please don't attempt to pay again and look for verification on invoice of Premium quantity OR reversal for your account after 3 - 4 functioning days.You might contact mysupport@sbilife.carbon monoxide.in for any inquiry over 5 functioning days from the day of payment
Q. Not able to pay premium for this plan?
A. Online premium can be spent for Inforce/Technology lapse Condition just.Further you can write a mail on mysupport@sbilife.carbon monoxide.in with your plan information and a display fired of mistake if any.
Q. Can one pay premium in advance online?
A. Payment can be started 25 days in advance.
Q. Which kind of Credit Cards serves for premium payment?
A. Visa, Grasp, Diners & American Express Cards.
Q. Is a worldwide debit card appropriate for an on the internet payment?
A. Payment can be made through Credit Card / Debit Card (Issued in India) just based upon your credit limit.
Q. Exist any charges on paying the premium through credit card?
A. SBI Life Insurance Company doesn't charge any quantity for providing online premium payment solution.
Q. Can one pay premium for my lapse plan online?
A. No, Payment is approved just for inforce plans within 11 days for monthly plans and 25 days for non-monthly plans from the premium due day. For lapse plans, you need to contact the nearest SBI Life Workplace.
Q. What should one do if a repayment is done two times?
A. Kindly drop us a mail on info@sbilife.carbon monoxide.in with the deal information specifying the day of deal and Recommendation No.
Q. Can one make an on the internet payment for a plan which is currently registered for a car pay?
A. We request you to avoid paying premium by hand since it will lead to double payment.
Q. Can one split the premium payment in 2, one through cash/cheque and various other through credit card.
A. Premium payment through 2 various settings isn't enabled.
Q. Can one not revive a plan by paying online?
A. Online Premium payment option for Lapsed plans isn't enabled, We request you to visit the nearest SBI Life branch and Pay the premium by cheque together with the DGH(Declaration of Health).You can produce the Resurgence Quotation from the deals food selection
Q. Where can one obtain a recognition on the premium paid?
A. Visit in your My Plan account >> Plan Declarations >> Premium Payment Acknowledgment
Further you need any assistance, please contact us on mysupport@sbilife.carbon monoxide.in with the deal information specifying the day of deal and Recommendation No.
Plan Modification
Q. How can one Change the Amount Guaranteed?
A. Amount Guaranteed change can be done based on the terms of the Plan (refer plan document) and the last financing choice.
Q. How can one correct an incorrect Candidate name and connection under a plan?
A. In situation of information entrance mistake, please contact info@sbilife.carbon monoxide.in. You might describe copy of proposition form attached with plan document to confirm the candidate information before sending out the mail. In situation of mistake while filling the proposition form, we request you to send the listed below mentioned documents to nearest SBI life branch.
Ask for change in plan information (appropriately filled in)
Evidence of Candidate:
(a) Birth certification
(b) Institution Certification
(c) Ticket
(d) Driving license
(e) PAN Card
Q. When can one include a biker under a plan?
A. Riders can be included just on creation of a plan.
Q. When can one erase a biker under a plan?
A. Riders can be erased on plan wedding anniversary based on item features.
Q. How can one erase the riders under a plan?
A. You can use for deleting the Riders by giving a composed request or "Sending the Ask for change in Plan Information" form at any one of our SBI Life branch.
Q. How can one correct the name and day of birth?
A. You can send the request to correct the information in nearest SBI life branch.
Q. When can one change the regularity?
A. Regularity can be changed from the next plan wedding anniversary at anytime throughout the regard to the plan other than in the first plan year or the first 3 plan years depending upon the item terms.
Q. Whether a change in regularity from solitary to routine and the other way around enabled?
A. No, this isn't enabled.
Q. What is a costs vacation?
A. Under item 56-SBI Life Flexi wise insurance, after paying the premium for 5 years, policyholder can relax in premium resettlements for a duration from 1 year to 3 years maintaining plan in force.
Q. Can an increase or decrease in premium / amount guaranteed performed in a lapsed plan?
A. For adjustments in premium / amount guaranteed, the plan should remain in force.
Q. Can the plan option be changed i.e from routine to Solitary or Endowment to entire life post issuance?
A. Change in plan option isn't enabled post issuance.
Q. What should be done if the initial plan document is shed / lost?
A. One can use for replicate plan bond.
Top-Up
Q. What is Top-Up premium?
A. Top-up is an Additional quantity beyond the premium that the Policyholder can spend to gain from the carrying out market. This can be done under the Unit connected Plans, provided the feature is available with the plan. Top up quantity is purchased money of Policyholders choice.
Q. How can one perform a leading up?
A. You can pay top up by visiting the nearest SBI Life branch, and sending the Top-up cheque together with the Top up allotment form (Revival Premium /Top Up Premium Challan) which can be obtained at the branch. Approval of Top up would certainly be based on items features and qualification of your plan.
Money Worth Related
Q. Why is my money worth showing not appropriate?
A. The Money worth will be available just for ULIP Items and Variable items i.e market connected items.
Q. Why is the money worth much less compared to the total money paid?
A. The Money worth is calculated on the NAV which is originated from the marketplace problems & after various reductions such as Admin, death and various other Plan related charges. You might describe the Newest deal orgasm Unit declaration to understand the various charges of your Plan.
Bonus Related
Q. When are bonus information not appropriate?
A. Bonus applies for taking part plan only; plans which are not qualified to take part in the profit of the insurance company are Non Taking part plans. Please describe your plan document for further information.
Q. What are taking part items?
A. Most endowment plans have a conserving aspect consisted of in the premium. This quantity is spent by company in behalf of the plan owners and makes profit on it which is again dispersed back to plan owners through rewards. Such plans are known as "Taking part Plans".
Q. Where can one find bonus prices for each year?
A. You might visit our website and click "Public Disclosures>>Bonus Prices"
Q. When is Bonus stated?
A. Bonus prices are stated at completion of the monetary year and kind of bonus may be simple reversionary, building up, interim or incurable. Once a reward is stated it becomes ensured component of the plan benefits and can be viewed on the plan account declarations.
Resurgence Related
Q. What should one do if the plan is lapsed?
A. You can revive your plan by paying the outstanding premium with rate of passion and sending an evidence of continued health to the nearest SBI Life Branch.
Q. What is Resurgence Quotation?
A. When the Plan contract has lapsed because of non payment of Premium in the stipulated time and a Plan owner would certainly prefer to Revive a plan, the Resurgence Quotation helps in obtaining the information to be fulfilled in purchase to revive the Plan The resurgence quotation would certainly provide the breakup of the total up to be paid and the documents to be provided in purchase for the Plan to be restored.
Money Switch & Redirection
Q. What do you imply by Money Switch?
A. Money switch is the center provided to the Plan owner (that is having actually unit connected plan) to "Switch" (change) the current Funds, opted by him, to another Money or greater than one Money, thus enabling him to get the benefits of a vibrant market.
Q. Is "Money switch" enabled under all plans?
A. No. Just unit connected plans are qualified to get money switch center based on item features.
Q. How to do a Money switch?
A. Money Switch can be done through Client Self Solution (CSS) Portal or by visiting the nearest SBI Life Branch.
Q. How can I do Money switch through CSS Portal?
A. To activate the online money switch center, Kindly down load the T-PIN Application by visiting https://MyPolicy.sbilife.carbon monoxide.in/ MyPolicy >> Request Form>>T-PIN Application and sending it to the nearest SBI Life branch. This is a onetime process for confirmation & hence there's no need to enter T-PIN every time for all future Deals.
Q. How can i obtain a verification for a refined Money Switch deal?
A. The verification of the Money switch request is provided just on the Next functioning day of the switch request, in situation you have not received any intimation after the second functioning day, You might inspect your Money switch deal by downloading and install the newest Unit orgasm deal declaration which would certainly indicate you the Newest Switch information or you might write us at info@sbilife.carbon monoxide.in.
Q. What is the distinction in between funds switch and money redirection?
A. Money Switch is the ask for restructuring the current money structure and Redirection restructures' the money structure for the future costs paid without impacting the current funds.
Q. Where can one send the money switch and money redirection request?
A. You can send the appropriately filled Form together with the necessary document at any one of the SBI life branches.
Q. Can one send the money switch request form at any branch of Specify financial institution of India?
A. No, The Request forms are to be sent at the SBI Life Branches just.
Surrender Related
Q. Can a lapsed Plan be surrendered?
A. Yes, after conclusion of 3 plan years, plan can be surrendered also if it's having actually Lapse condition.
Q. Can designated plan be surrendered?
A. Yes, we can.
Q. What are document required to surrender a plan?
A. The required documents are:
- Initial Plan Bond.
- Self attested Identification Evidence & Address Evidence.
- Direct Credit Required with evidence of checking account:
- Initial Terminated Cheque with pre-printed name OR Self attested copy of Financial institution Passbook with deals not older compared to 6 month.
Q. What documents are required, If at the moment of Surrender, one isn't having actually the OPD?
A. If OPD isn't available, the Indemnity Bond is to be appropriately filled and sworn together with surety letter if the money worth is higher than Rs. 5 lacs.
Q. Why constantly the surrender worth is much less compared to the total premium paid?
A. Surrender worth is the present worth of the quantity payable in future by way ofby way of maturation or fatality whichever is previously. The cost of risk cover has been recuperated till the day of surrender had it been, God forbid (regrettable occasion) happened, complete amount guaranteed would certainly have been payable.
Q. Where the surrender request can be sent?
A. The surrender request can be sent to the nearest SBI life branch or may be sent out to Main Processing Centre. Address of the Main Processing Centre is as complies with:
- SBI Life Insurance Carbon monoxide Ltd.
- 8th Degree, Seawoods Grand Main,
- Loom 2, Plot No R-1, Industry 40,
- Seawoods, Nerul Node,
- Navi Mumbai - 400 706.
- Nomination Related
Q. What is meant by nomination?
A. Nomination is a procedure whereby a Life Guaranteed nominates an individual to receive the plan money in situation of early fatality of the Life Guaranteed. Nomination facilitates hassle free negotiation of claim.
Q. What are the requirements for enrollment of nomination?
A. For Enrollment of nomination we require
Change in Nomination form appropriately filled, authorized & witnessed by life guaranteed or Proposer
Initial Plan Document.
Q. Can one change nomination?
A. Yes one can change the nomination.
Q. Can one nominate greater than one candidate?
A. Yes
Project Related
Q. What is meant by project of plan?
A. An Project is the process whereby the policyholder transfers his rights, title and rate of passion in a plan to another individual.
Q. What are kinds of project if any?
Outright Conditional
Q. What do you imply by "Outright Project"?
A. An outright project transfers to the assignee all rights, title and rate of passion which the assignor has in the plan. The plan vest definitely in the assignee and forms the component of his estate on his fatality. Assignor cannot terminate project and cannot deal with the plan unless it's reassigned in his favor.
Q. What do you imply by "Conditional Project "?
A. A conditional project produces immediate vested rate of passion in the assignee. Such rate of passion is reliant be divested on the happening of the backups laid out in the project. The assignor cannot terminate or differ the conditional project also. However, the assignor may raise a lending under conditional project with the concurrence of the assignee.
Q. What are the documents required for Project?
A. Documents required are:
- Notice of Project & Recommendation for Project in the appropriate form, authorized by both Assignee and Assignor appropriately witnessed.
- Initial Plan Document
- KYC Documents of Assignee, if project is for an individual.
- Evidence of resource of money
- PAN of assignee
- Plan Down payment Related
Q. Whether in SI EFT, costs obtain deducted from customer's account after exit?
A. Yes, plan owner should take out the standing instructions offered to his financial institution. It's the duty of the worried workers going to to the client to inspect if the plan is registered for SIEFT therefore plainly notify the client to approach his lender for withdrawal of the standing instructions to avoid hassle because of premium debit after exit.
Auto Pay of Costs
Q. How can I sign up my plan for ECS?
A. Please send appropriately filled out ECS required together with terminated cheque fallen leave.
Q. After how many days ECS obtain triggered?
A. Within thirty days from the invoice of required.
Q. Can ECS be registered for lapse/uneven plan?
A. ECS obtains registered just for in force plan.
Q. How can I deactivate ECS center?
A. You might send written request/mail from registered E-mail ID for deactivation of ECS.
Q. How many days in advance a deactivation request needs to be sent?
A. You can send a request 15-20 days before premium due day. Once deactivated future premium will not be debited through ECS.
Q. How many setting of payment are available to pay the premium?
A. Visit our website www.sbilife.carbon monoxide.in and click solutions to know the premium payment treatment of various setting of payment.
Q. When is the TDS deducted on Life Insurance proceeds for "Residential" Condition?
A. As each Area 194DA of Earnings Tax obligation Act, 1961, anyone in charge of paying to a local any amount under a life insurance coverage consisting of bonus, various other compared to the quantity not includable in the total earnings u/s 10(10D), will at the moment of payment thereof, subtract earnings tax obligation @ 2%. Provided that no reduction under this area will be made where the quantity of such payment or, as the situation may be, the accumulation quantity of such resettlements to the payee throughout the monetary year is much less compared to Rs. 1 lac.
Q. Which payments are considered as non-exempt u/s 10(10D)?
A. No presently it's available for 86 locations
Q. After how many days ECS obtain triggered?
Any amount received, various other compared to fatality, for plans where premium payable for any one of the years throughout the regard to plan exceeds: - 10% (for plans issued after April 01, 2012) or - 20% (for plans issued in between April 1, 2003 till March 31, 2012) or - 15%* (for plans issued after April 01, 2013) of the real funding amount guaranteed. *in situation of individual experiencing from serious impairment/serious illness or condition
Any amount received, consisting of fatality, under a Keyman /Employer-Employee (EE) insurance coverage (where proposer is the company and plan is assigned)
Q. How is the threshold% calculated u/s 10(10D)?
A. Base Yearly Premium+ Call Biker Premium + Unintentional Fatality Benefit Biker Premium +Top up Premium Base Amount assured+ Call Biker Amount assured+ Unintentional Fatality Benefit Biker Premium+ Top up Amount guaranteed.
Q. What is the tax obligation exemption limit appropriate?
A. The tax obligation exemption limit appropriate is Rs. 1 lac. However, in situation of advancing payment of Rs. 1 lac and over to a solitary policyholder throughout a monetary year would certainly draw in TDS.
Q. Whether TDS applies on gross payable quantity or net?
A. TDS applies on gross payable quantity.
Q. Suppose legitimate PAN isn't available?
A. If legitimate PAN isn't provided by the policyholder after that rate of TDS will be 20%. Also the client will not have the ability to get the tax obligation credit while filing his tax return.
Q. Whether Form 60/61 can be approved in lieu of PAN at the moment of payment?
A. No. TDS @20% will be appropriate. Legitimate PAN is mandatory for reduction of TDS @2%. However, tax obligation exemption is available to certain areas of North eastern Indian residents and of Ladhakh area based upon the certification provided by the Specify Govt. Authorities.
Q. Whether Form 15G/H can be approved for non reduction of TDS?
A. Yes. With effect from June 01, 2015 Form 15G/H can be approved based on payee having actually a legitimate PAN. The same needs to gathered Just Local payees can send Form 15G/H. Please keep in mind that Form 15G is for individual that is old of listed below 60 years and Form 15H for individual that is old of sixty years or more declaring certain invoices without reduction of tax obligation. Also, TDS will be deducted if the total earnings (consisting of the insurance proceeds) of the payee exceeds his basic exemption piece as each prevailing Earnings Tax obligation laws.
Q. Typically, what kind of plan resettlements would certainly be based on TDS?
A. Maturation claim, Surrender, Lapse Ended and Partial withdrawal payment made under a Life Insurance Plan would certainly be based on TDS.
Q. Whether TDS applies in situation of payments made under plans without life cover?
A. No.
Q. Whether TDS applies in situation of Health and wellness Biker benefits (i.e. Critical Disease, Total Long-term impairment etc)?
A. No.
Q. Is fatality benefit based on TDS?
A. TDS certifications will be issued on a quarterly basis.
Q. Whether Form 15G/H can be approved for non reduction of TDS?
A. Yes. With effect from June 01, 2015 Form 15G/H can be approved based on payee having actually a legitimate PAN. The same needs to be sent in replicate.
Q. When is the TDS deducted on Life Insurance proceeds for "NRI" Condition?
A. As each Area 195 of the Earnings Tax obligation Act, 1961 any payment made to NRI which is chargeable to tax obligation under the appropriate Earnings Tax obligation laws, will be based on TDS @ 30% plus surcharge and education and learning cess.
However, the TDS will be appropriate based on Double Taxation Evasion Contract (DTAA) benefit.
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