I have SBI Life – Unit Plus II Plan Policy which has matured on 31/03/2012 itself. When I contacted the Bombay office, I was told due to annual closing activities, it would be paid after 15 days. Why such time stipulation for settling maturity claim. I have invested Rs 50000/ per year for 5year term and it is unit linked policy. I am not benefited by it. While investment, I was cheated by tactical words. I was not aware of full details of the policy. I could have paid tax itself instead of investing in this. Had I deposited in Bank, I would have benefitted to better extent. My doubt is how these people say so that due to annual closing works, we can not settle the money. But will they keep quite without inviting the new policies, for the same reason. And that too, when I asked over phone only this was disclosed. Before that, I sent so many mails. For that there was no proper response from claims dept and info dept and complaint dept. Can I claim overdue interest for the undue delay? Today also I contacted Bombay office, there is no proper response. For courtesy sake, to pacify me, some answer they could have given me. But in vain. Today is 16th day. They didn’t give credit to my account. What is my next action in this regard. Am I a beggar? I have several expenses to meet with. I couldn’t understand. Please give me your valuable guidance. Thanking you

3 replies on this article “SETTLEMENT SBI LIFE INS POLICY”

  1. Dear Bhuvaneswari, this is what written under the FAQs section of SBI Life’s site –

    4. How do I collect the maturity amount from the insurance company?
    Usually, insurance companies send information regarding the maturity of the policy in advance, along with the forms to be filled and the documents to be sent. If the required documents are sent duly completed and signed, the payment is sent by post or in certain cases, even directly credited to your bank account.

    From your query, it seems, SBI people had contacted you several time before the policy maturity date. Please contact the below mentioned person for your policy’s maturity proceeds.

    For more queries on your policy, contact our “Customer Helpdesk” at
    Shri. Rajkumar Raina
    Head – Client Relationship & Call Center
    SBI Life Insurance Co. Ltd.
    Central Processing Centre
    Kapas Bhavan, Plot 3A,
    Sector -10, CBD Belapur,
    Navi Mumbai – 400614

    Tel: 022- 66456210

    I do hope that you ‘ll be able to get your money very soon.



  2. Dear Bhuvaneswari, I request you to first of all please read the policy bond & specially the maturity part. If you are unable to find the required info, please do visit here & all of us ‘ll be happy to help you out.




      I am not able to make out anything from some 15 pages booklet. It is all about critical ill rider, accidental death permanent ill health like that it goes. I were told that on 31 mar2012, my policy comes to an end. I would get only the market value on 31 mar2012. I were asked to submit the claim forms. For that, I received so many phone calls, reminders, mails. I have given all the particulars needed by them. What is the use, If my money is not helping me in need?

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