Home › Insurance › Insurers › SBI Life Insurance
Life insurer · figures from IRDAI, FY 2024-25 unless stated
Key figures, FY 2024-25
Claims by number and by amount, FY 2024-25
| Individual death claims | Number | Share | Amount | Share |
|---|---|---|---|---|
| All claims to decide | 44,949 | 100% | Rs 2,622 cr | 100% |
| Paid | 44,205 | 98.34% | Rs 2,498 cr | 95.26% |
| Refused (repudiated or rejected) | 524 | 1.17% | Rs 77 cr | 2.92% |
| Still pending at year end | 165 | 0.37% | Rs 40 cr | 1.54% |
If the share paid by amount is well below the share paid by number, larger claims are being refused or delayed more often than small ones.
Five-year record
| Year | Paid, by number | Paid, by amount | Solvency (March) | Complaints |
|---|---|---|---|---|
| 2024-25 | 98.34% | 95.26% | 1.96 | 3,041 |
| 2023-24 | 98.25% | 96.04% | 1.96 | 2,949 |
| 2022-23 | 97.05% | 94.94% | 2.15 | 4,460 |
| 2021-22 | 97.05% | 94.55% | 2.05 | 3,608 |
| 2020-21 | – | – | 2.15 | 3,237 |
Claims data in this Handbook start from FY 2021-22; a dash means IRDAI shows no figure for that year.
Products and UINs
If your claim or complaint is stuck
Write to the insurer’s grievance officer first; IRDAI and the Ombudsman expect that step.
Similar insurers, FY 2024-25
All life insurers, A to Z, IRDAI figures. Not a ranking.
Listed A to Z. We do not rank insurers or name a winner: a higher claims-paid share is not proof of a better insurer on its own, complaint counts grow with the number of policies, and solvency only needs to stay above IRDAI’s minimum of 1.5. Read the figures together and over several years.
How we made these numbers
Source: IRDAI, Handbook on Indian Insurance Statistics 2024-25 (published February 2026). Table 15 (individual death claims), Table 23 (solvency, quarter to March), Table 37 (complaints). Paid by number = claims paid ÷ all claims to decide in the year (pending at the start plus new). Paid by amount = the same in rupees. We copy IRDAI’s figures and do the division ourselves; nothing is estimated. IRDAI name: SBI Life Insurance Company Limited.
Education only. MyFinanceBandhu is not an insurer, insurance broker or web aggregator, does not sell, quote or recommend insurance, and earns nothing from it. Insurers are listed A to Z, never ranked. Figures are copied or computed from IRDAI’s Handbook on Indian Insurance Statistics 2024-25; check the insurer’s own disclosures before you decide. To complain about an insurer, go to the insurer’s grievance officer first, then IRDAI’s Bima Bharosa portal, then the Insurance Ombudsman.