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SBI Life Insurance |
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SBI Life Insurance is a joint venture between the State Bank of India and Cardif SA which is based on France. SBI Life Insurance has been registered with an authorized capital of Rs 1000 crore and a paid up capital of Rs 500 crores. While SBI owns 74% of the total capital, the remaining 26% is with Cardif.
The mission of SBI Life Insurance is to emerge as the leading company offering a wide range of Life Insurance and pension products at competitive prices. This life insurance company in India also tries to ensure high standards of customer service and world class operating efficiency. SBI Life Insurance has a unique multi-distribution model encompassing Bancassurance, Agency and Group Corporates.
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Agency Channels of SBI Life, comprising more than 25,000 Insurance Advisors, offers door to door insurance solutions to the valued customers. The access of SBI to over 100 million accounts across the country provides a solid base for insurance reach to every region in the country.
The collaboration between the two giant companies is quite significant. State Bank of India is the largest banking franchise in India. Along with its 7 Associate Banks, SBI Group has over 14,500 branches all over the country, which is arguably one of the largest in the world. On the other hand, Cardif is a wholly owned subsidiary of BNP Paribas. Cardif is ranked 2nd worldwide in creditor’s insurance offering protection to over 35 million policyholders and net income in excess of Euro1 billion. Cardif has also been a leader in selling insurance products through commercial banks in France and in many more countries.
Top Products of SBI Life Insurance
- Horizon 2 Pension
- Unit Plus 2 Pension
- Unit Plus 2
- Horizon 2
- Lifelong Pension
- Keyman
- Sudarshan
- Swadhan
- Money back
- Scholar 2
- Shield
- Sanjeevan Supreme
- Setu Bandhan
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