Launch Overview

On October 27, 2026, SBI Life Insurance announced from Mumbai the launch of its new Waiver of Premium rider. The rider is designed to waive all future premiums, including any extra premiums, when specified contingencies occur, thereby preserving the continuity of the base policy and any attached riders.

Rider Coverage and Eligibility

The rider provides protection for Accidental Total Permanent Disability (ATPD) and 21 specified critical illnesses when the proposer and the life assured are the same person. When the proposer and the life assured differ, the rider also covers the proposer’s death, ATPD and the same 21 critical illnesses. Policyholders may opt for the rider either at policy inception or at a later policy anniversary, provided they meet eligibility criteria and have a minimum outstanding premium payment term of five years. The rider is available with select individual non‑linked and linked life insurance products.

Executive Commentary

Mr. M. Anand, President & Chief Distribution Officer of SBI Life Insurance, stated that financial security involves building resilience into long‑term commitments and that the Waiver of Premium rider adds an important layer of continuity for customers facing unforeseen setbacks.

Company Background

SBI Life Insurance, incorporated in October 2000 and registered with the IRDAI in March 2001, serves millions of families across India through a diversified portfolio of protection, pension, savings, and health solutions. The company operates through 1,241 offices, employs 29,055 staff, and maintains a distribution network of approximately 293,443 agents, 81 corporate agents, 9 bancassurance partners with over 40,000 partner branches, and 161 brokers and other marketing firms.

Financial and CSR Highlights (as of June 30, 2026)

  • Authorized capital: ₹20.0 billion
  • Paid‑up capital: ₹10.0 billion
  • Assets under Management (AuM): ₹5,248.5 billion
  • CSR impact (2025‑26): Over 20,500 direct beneficiaries reached through various interventions.

Market Presence

SBI Life Insurance is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).