How to Download SBI Life Insurance Premium Receipt?

By Mayashree Acharya

|

Updated on: Dec 1st, 2023

|

7 min read

SBI Life Insurance (‘SBI Life’) is a life insurance company in India that was incorporated in 2001. SBI Life’s diverse products include pensions, savings, protection, and health, which cater to individual and group customers. It is known for providing savings, protection plans, and good customer service. It also provides various online services, making it easy for its customers. 

Customers with SBI Life Insurance can easily pay premiums online and download the SBI Life Insurance premium receipt. In this article, let’s look at how to get the premium receipt of SBI Life Insurance online.

Process to pay SBI Life Insurance premium

Follow the below steps to pay the premium of your SBI Life Insurance online

Step 1: Log in to the SBI Smart Care portal by entering your policy number and MPIN, or entering your policy number and generating OTP, or entering your User ID and password. 

Step 2: Click on the ‘Pay Premium’ option.

Step 3: Enter your policy number and date of birth, and click ‘Submit’.

Step 4: The details of your policy will be displayed. 

Step 5: Pay the premium using your debit or credit card. 

Purpose of downloading the SBI Life Insurance premium receipt

Once you pay your SBI Life Insurance plan premium, it is recommended that you download the SBI Life Insurance premium payment receipt. The purpose or benefit of downloading the receipt is as follows: 

  • Policyholders get tax deductions on the premiums paid for life insurance plans. Thus, downloading the SBI Life Insurance premium paid receipts will help you while filing your income tax returns, as they act as proof of payment. 
  • The downloaded premium receipt ensures that you have paid a premium and are entitled to life insurance coverage benefits. 
  • The downloaded premium receipts help your nominees to claim the life insurance policy after your demise. It will ensure that the claim settlement process is easy and quick. 
  • You can verify the details of your policy from the premium receipt since it contains details such as the policy number, payment date, premium amount and policy tenure.
  • You can assess the overall insurance expenses and make informed decisions regarding insurance coverage, as the premium receipts help you keep track of your expenses.

How to download the SBI Life Insurance premium receipt?

Follow the below steps to download your SBI Life Insurance premium receipt

Step 1: Log in to the SBI Smart Care portal.

Step 2: Click on the ‘Policy Documents/Statements’ option and click on the ‘Premium Payment Acknowledgment’ option.

Step 3: Enter your policy number and date of birth, and click ‘Get Acknowledgement’.

Step 4: Click on the digital copy. Check if there are any errors and rectify them, if any. 

Step 5: Click ‘Download’ to download a copy of the SBI Life Insurance premium receipt. 

Tax benefits of SBI Life Insurance policy

You can claim tax deductions on the premium paid for your SBI Life Insurance policy under Section 80C of the Income Tax Act, 1961. However, you can only claim deductions under Section 80C up to Rs.1,50,000. When the premium paid on the life insurance policy is not more than 10% of the sum assured, the maturity amount or amount received on the insured’s death is also exempt from tax under Section 10(10D)

SBI Life Insurance provides many individual and group life insurance plans. The policyholders can pay premiums for the life insurance policies easily online from the comfort of their homes. They can also download the SBI Life Insurance premium receipt online, which makes it convenient for the policyholders.

Related SBI Articles:
1. SBI Bank Balance Check Number  
2. How to activate mobile banking in SBI
3. How To Increase UPI Transaction Limit In SBI?
4. How to Apply for SBI ATM Card Online and Offline?
5. SBI Debit Card Charges
6. SBI Net Banking - How to Activate SBI Net Banking?
7. SBI Annuity Deposit Scheme

Frequently Asked Questions

How can I get an SBI Life premium receipt?

You can get the SBI Life Insurance premium receipt by logging into the SBI Smart Care portal. Once you log in, click ‘Policy Documents/Statements’ and then ‘Premium Payment Acknowledgment’ and enter your policy number to get the SBI Life Insurance premium receipt.

How can I download my SBI policy copy?

Below is the process to download your SBI Life Insurance policy copy/document: 

  • Log in to the SBI Smart Care portal.
  • Click on the ‘Policy Documents/Statements’ option and click on the ‘Policy Document’ option.
  • Enter your policy number and date of birth, and click ‘Download’.
How can I know my SBI Life policy amount?

You can get the SBI Life Insurance policy amount from the SBI Life Insurance premium receipt. It is also available on the SBI Life Insurance policy document.

How can I get my SBI Life policy details?

Your policy details, such as policy number, payment date, premium amount, policy term, etc., are available on the premium receipts. Alternatively, you can send an SMS to 56161 or 9250001848 in the format- ‘POLSTATUS (Space) Policy Number’ to obtain the SBI Life Insurance details.

Is SBI Life Insurance premium deduction available under 80C?

Yes, you can claim a deduction for the premium paid on the SBI Life Insurance policy under Section 80C up to Rs.1,50,000.

About the Author

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

Public Discussion

Get involved!

Share your thoughts!

summary-logo

Quick Summary

SBI Life Insurance offers various life insurance products and online services for easy premium payments. The premium receipt is essential for tax deductions and proof of payment. Policyholders can download the premium receipt from the SBI Smart Care portal by following simple steps. Tax benefits include deductions under Section 80C and exemptions under Section 10(10D). SBI Life Insurance provides convenient options for premium payments and receipt downloads online.

Was this summary helpful?
liked-feedbackliked-feedback

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption