Cancellation service N°1 in India
Contract number:
To the attention of:
Cancellation Department – Sbi Life
SBI Life Insurance Co. Ltd., Central Processing Centre, Kapas Bhawan, Sector 10, CBD Belapur
400614 Navi Mumbai
Subject: Contract Cancellation – Certified Email Notification
Dear Sir or Madam,
I hereby notify you of my decision to terminate contract number relating to the Sbi Life service. This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual notice period.
I kindly request that you take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper receipt of this request;
– and, where applicable, send me the final statement or balance confirmation.
This cancellation is sent to you by certified email. The sending, timestamping and integrity of the content are established, making it equivalent proof meeting the requirements of electronic evidence. You therefore have all the necessary elements to process this cancellation properly, in accordance with the applicable principles regarding written notification and contractual freedom.
In accordance with the Consumer Rights Act 2015 and data protection regulations, I also request that you:
– delete all my personal data not necessary for your legal or accounting obligations;
– close any associated personal account;
– and confirm to me the effective deletion of data in accordance with applicable rights regarding privacy protection.
I retain a complete copy of this notification as well as proof of sending.
Yours sincerely,
18/01/2026
Cancellation Sbi Life: Easy Method
What is Sbi Life
SBI Life Insurance Company Limited is an India‑based life insurance provider offering a range of protection, savings, and pension products. It operates primarily in India under regulations of the Insurance Regulatory and Development Authority of India (IRDAI) and services are delivered through branches, agents and digital channels. If you hold an SBI Life policy in Canada (for example, purchased while resident in India or through a cross‑border arrangement), note that product terms and regulatory protections may differ from Canadian insurers.
How to cancel Sbi Life
- Check your policy document immediately for the free‑look period and cancellation procedure (SBI Life’s standard free‑look is typically 15 - 30 days from document receipt; see insurancedekho).
- If within the free‑look window, prepare a written cancellation request quoting the policy number, reason for cancellation, and bank details for refund.
- Send the request and required documents by registered/courier mail (recommended) to SBI Life’s processing centre, or submit via SBI Life’s website/email if accepted. For registered mail from Canada you can use trackable courier or registered post and keep proof of posting.
- If beyond the free‑look window, contact SBI Life customer service to confirm whether your plan has any surrender value; for many pure term plans no refund is available.
- If you prefer, visit an SBI Life branch (if available to you) with originals to complete surrender or cancellation paperwork in person.
What happens when you cancel
If you cancel within the free‑look period the policy terminates and SBI Life typically processes a refund of the premium paid after permitted deductions. Coverage stops from the date of cancellation and the insurer will update policy status in their systems. If you cancel after the free‑look window, many term (pure protection) plans have no surrender value and the policy simply ends without a cash refund; for participating or savings plans there may be a surrender value subject to terms. Data and records are retained by SBI Life per their privacy and record‑keeping policies and may be used to process refunds, audits or regulatory reporting.
Will I get a refund?
Refunds depend on timing and plan type. SBI Life’s standard practice is to refund premiums for policies canceled within the free‑look period (usually 15 - 30 days) after deducting applicable charges such as stamp duty and medical exam costs; typical processing timelines cited are 7 - 15 working days although some sources state refunds may be processed within 15 working days. After the free‑look period, pure term plans generally do not offer refunds because they have no surrender value. Exceptions (for example, clear mis‑selling, fraud, or proven service deficiency) may lead to refunds at SBI Life’s discretion or after a consumer adjudication (a published consumer case ordered a full refund plus interest in a specific dispute). Always keep proof of submission and ask for a written acknowledgement.
Sbi Life plans and pricing
| Plan / Item | Price (CAD) | Period | Notes |
|---|---|---|---|
| SBI Life - Smart Care (iOS app) | C$0.00 | One‑time download | Mobile servicing app for policyholders; free to download |
Your consumer rights in Canada
If you are in Canada, regulatory protection differs from India. Canadian provincial regulators oversee insurance sold inside each province and there are federal bodies with oversight roles for federally regulated firms. You should determine which regulator applies to your policy (provincial regulator where the policy was sold, or the insurer’s home regulator). For life and health insurance disputes in Canada, you can check the OmbudService for Life & Health Insurance (OLHI) if the insurer is a member, and contact your provincial insurance regulator (for example, FSRA in Ontario or the Autorité des marchés financiers in Québec) for guidance. The Financial Consumer Agency of Canada (FCAC) provides general consumer guidance but does not adjudicate all insurer disputes. If your policy was issued in India, IRDAI rules (free‑look 15 - 30 days) apply to the insurer’s contractual obligations but may not substitute for Canadian regulatory remedies. Keep documentation and escalate early if a refund or response is delayed.
Customer experiences
User reports generally show SBI Life follows a 15 - 30 day free‑look refund practice, but some consumers have reported delays or difficulty obtaining refunds after submitting requests - examples include long processing times and instructions to attend a branch for surrender. There are isolated consumer dispute outcomes where courts or tribunals ordered refunds and interest due to service deficiencies. Note that most publicly reported complaints appear India‑centred; Canada‑specific reviews were not found on major Western review sites, so experiences may vary depending on where and how the policy was sold.
Documentation checklist
- Written cancellation request stating policy number, insured name, reason for cancellation, and refund bank details.
- Original policy document (or clear copy if originals are unavailable) and any riders.
- Government photo ID (passport, driver’s licence).
- Cancelled cheque or bank account details (void cheque) for refund transfer.
- Proof of posting/receipt if you send documents by registered/courier mail; retain copies of everything.
Common mistakes
Common errors include missing the free‑look deadline (and assuming a refund is still available), failing to provide complete bank details or the original policy document, and relying solely on verbal confirmations rather than documented proof. Another frequent issue is attempting to use online channels where the insurer requires an in‑branch surrender - this can delay processing. Example: a policyholder who mailed an unsigned cancellation letter or omitted the policy number often experiences avoidable follow‑ups and delays.
Comparative recap
| Method | Refund | Difficulty |
|---|---|---|
| Free‑look cancellation (within 15 - 30 days) | Refund after permitted deductions (stamp duty, medical costs) | Low - Medium (requires correct docs and proof of delivery) |
| Surrender after free‑look (term plans) | Usually no refund for pure term plans; surrender value for savings plans only | Medium - High (often in‑branch procedures and documentation) |
| Online/email cancellation | Possible if insurer accepts; timeframe similar but may require follow‑up | Low - Medium (depends on insurer acceptance and clarity of process) |
After cancelling
After you submit cancellation, keep copies of all documents and track delivery. If you do not receive acknowledgement or refund within the insurer’s stated timeframe, escalate to SBI Life’s Grievance Redressal Officer and keep a written paper trail. If the insurer is unresponsive and you are in Canada, contact the appropriate provincial regulator or OLHI (if applicable) for guidance. Useful links: SBI Life services page (sbilife.co.in - Services), consumer decision reporting (example case) (moneylife.in), and general guidance for Canadian dispute resolution (OLHI, FCAC).
Address
SBI Life Insurance Co. Ltd., Central Processing Centre, Kapas Bhawan, Sector 10, CBD Belapur, Navi Mumbai - 400614