SBI Life Insurance Company Underwriter Salaries by 20+ Employees (Updated 2025)

1 - 12 years exp.

₹2.5 Lakhs - ₹7.3 Lakhs

Salary of majority employees

Fixed (79%)

₹3.6 Lakhs

Variable (21%)

₹1.0 Lakh

14% less than the average Underwriter Salary in Insurance Companies for 1 - 12 years of experience

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Salaries in different departments

Customer Success, Service & Operations Underwriter Salary 1 - 10 years exp. (10 salaries)	₹3 L/yr - ₹6.5 L/yr
BFSI, Investments & Trading Underwriter Salary 3 - 7 years exp. (3 salaries)	₹2.5 L/yr - ₹5.4 L/yr
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Finance & Accounting Underwriter Salary 5 - 6 years exp. (3 salaries)	₹3.5 L/yr - ₹6.2 L/yr

Last Updated: 12 Feb 2025

Companies similar to SBI Life Insurance Company for Underwriter

Company name	Avg Annual Salary	Open Jobs
Star Health & Allied Insurance Underwriter Salary 0 - 8 years exp. (64 salaries)	₹1.4 L/yr - ₹4.1 L/yr 43% less
ICICI Lombard General Insurance Company Underwriter Salary 0 - 3 years exp. (43 salaries)	₹5 L/yr - ₹10 L/yr 59% more
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ICICI Prudential Life Insurance Underwriter Salary 0 - 5 years exp. (25 salaries)	₹2.1 L/yr - ₹6 L/yr 8% less
HDFC Life Underwriter Salary 0 - 5 years exp. (17 salaries)	₹1.8 L/yr - ₹4.7 L/yr 18% less
HDFC Ergo General Insurance Underwriter Salary 0 - 7 years exp. (13 salaries)	₹3 L/yr - ₹7.2 L/yr 50% more
Axis Max Life Insurance Underwriter Salary 1 - 5 years exp. (11 salaries)	₹2.1 L/yr - ₹3.1 L/yr 47% less	1 job opening
Bajaj Allianz General Insurance Underwriter Salary 2 - 10 years exp. (11 salaries)	₹1 L/yr - ₹5.7 L/yr 20% less	2 job openings
Gallagher Underwriter Salary 3 - 13 years exp. (10 salaries)	₹9 L/yr - ₹21 L/yr 174% more
Bajaj Allianz Life Insurance Underwriter Salary 1 - 11 years exp. (10 salaries)	₹2.4 L/yr - ₹8 L/yr 11% less
SBI General Insurance Underwriter Salary 0 - 14 years exp. (9 salaries)	₹5 L/yr - ₹14 L/yr 134% more
The New India Assurance Co. Underwriter Salary 0 - 6 years exp. (8 salaries)	₹1 L/yr - ₹5.1 L/yr 8% more
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Aditya Birla Sun Life Insurance Underwriter Salary 0 - 4 years exp. (6 salaries)	₹1.7 L/yr - ₹3.5 L/yr 34% less
Kotak Mahindara Life Insurance Underwriter Salary 0 - 3 years exp. (6 salaries)	₹5.1 L/yr - ₹9.1 L/yr 54% more
Shriram Life Insurance Underwriter Salary 1 - 6 years exp. (5 salaries)	₹1.6 L/yr - ₹3.9 L/yr 47% less
United India Insurance Company Underwriter Salary 1 - 4 years exp. (5 salaries)	₹2 L/yr - ₹3.3 L/yr 31% less
Life Insurance Corporation of India Underwriter Salary 3 - 31 years exp. (4 salaries)	₹3 L/yr - ₹20 L/yr 139% more
The Oriental Insurance Co. Underwriter Salary 1 - 7 years exp. (4 salaries)	₹1.2 L/yr - ₹3.8 L/yr 58% less
PNB MetLife Underwriter Salary 2 - 8 years exp. (4 salaries)	₹2 L/yr - ₹7 L/yr 13% more
AIG Underwriter Salary 0 - 6 years exp. (4 salaries)	₹5 L/yr - ₹8 L/yr 30% more
MetLife Underwriter Salary 1 - 4 years exp. (3 salaries)	₹3.4 L/yr - ₹4.2 L/yr 17% less

View all

Underwriter salary at SBI Life Insurance Company ranges between ₹2.5 Lakhs to ₹7.3 Lakhs per year for employees with experience between 1 year to 12 years. Salary estimates are based on 24 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Underwriter salaries

Last Updated: 12 Feb 2025

Experience	Avg Annual Salary
1 year (3 salaries)	₹3.5 L/yr - ₹4 L/yr
2 years (AmbitionBox Estimate)	₹2.5 L/yr - ₹4 L/yr
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3 years (5 salaries)	₹2.5 L/yr - ₹4.2 L/yr
4 years (AmbitionBox Estimate)	₹3 L/yr - ₹7.5 L/yr
5 years (AmbitionBox Estimate)	₹1.7 L/yr - ₹6.2 L/yr
6 years (AmbitionBox Estimate)	₹3.5 L/yr - ₹6.2 L/yr
7 years (AmbitionBox Estimate)	₹2.9 L/yr - ₹8.4 L/yr
8 years (AmbitionBox Estimate)	₹2 L/yr - ₹5.2 L/yr
9 years (AmbitionBox Estimate)	₹3.4 L/yr - ₹5.5 L/yr
10 years (AmbitionBox Estimate)	₹5 L/yr - ₹6.5 L/yr
11 years (AmbitionBox Estimate)	₹4.9 L/yr - ₹6.2 L/yr
12 years (AmbitionBox Estimate)	₹2.2 L/yr - ₹7.3 L/yr

View all

Similar Designation salaries in SBI Life Insurance Company

Senior Underwriter Salary

(4 salaries)

₹3 L/yr - ₹8.5 L/yr

Analyst Salary

(4 salaries)

₹4.2 L/yr - ₹7.95 L/yr

Underwriting Manager Salary

(5 salaries)

₹8 L/yr - ₹11 L/yr

Team Lead Salary

(14 salaries)

₹2.3 L/yr - ₹6 L/yr

Chief Manager Salary

(4 salaries)

₹17 L/yr - ₹40 L/yr

Credit Manager Salary

(AmbitionBox Estimate)

₹15.8 L/yr - ₹20.2 L/yr

Senior Associate Salary

(536 salaries)

₹2.3 L/yr - ₹6.75 L/yr

Senior Analyst Salary

(AmbitionBox Estimate)

₹9 L/yr - ₹11.5 L/yr

Deputy Manager Salary

(38 salaries)

₹2.5 L/yr - ₹10 L/yr

Management Trainee Salary

(37 salaries)

₹3.54 L/yr - ₹10.5 L/yr

Salary related reviews for SBI Life Insurance Company

3.1

Rated by 4 employees for salary & benefits

Management Trainee in Kolkata

Full Time

Sales & Business Development Department

3.0

• posted on 02 Nov 2023

4.0

for Salary and Benefits

Likes

Salary and benefits are supportive.

Salary - Good

+1 more

Dislikes

No work life balance. The sales team pushes things like hell specially in the eastern region of the country. Third Saturday is a leave according to the company's leave policies but we don't get that leave.

Skill development - Poor

+4 more

Senior Associate in New Delhi

Full Time

Customer Success, Service & Operations Department

4.0

• posted on 30 May 2022

3.0

for Salary and Benefits

Likes

Average work environment and culture . Teammates are supportive and the management is selfish. Company policies are bad . Appraisals not fair in this company.

Job security - Good

Dislikes

There is a lot of politics and the management doesn't address our issues. Salary is decent but career growth is very slow

Work satisfaction - Poor

+2 more

Senior Associate in Jaipur

Full Time

BFSI, Investments & Trading Department

4.0

• posted on 29 Apr 2018

3.0

for Salary and Benefits

Likes

Company is

Job security - Good

+1 more

Dislikes

Company is good but as per process of career growth, it is very slow. Company's salary structure is also not good. My salary is less than a person who is coming on my position which I had before 2 years

Senior Associate in Sultanpur

BFSI, Investments & Trading Department

5.0

• posted on 29 Oct 2020

5.0

for Salary and Benefits

Likes

...gement is transparent. There is a huge cafeteria and gaming arcade for chilling. Company policies are good, appraisals are fair and they give salary hike and bonus every year.

Salary - Excellent

+6 more

Business Development Manager in Deoghar

Full Time

Marketing & Communication Department

5.0

• posted on 30 Jan 2025

2.0

for Salary and Benefits

Likes

Very good policy, good Behaviour from all senior Management.

Skill development - Good

+3 more

Dislikes

I am working from last 8 year but my salary is very low. If someone working is in other companies and they switched from there to here they are getting good CTC. If you are working in good location and if your assign branch and branch manager is good so you can get promotion but if you not working in good location or your assign branch is not good it's very deficit to get promotion.

Salary - Poor

see more salary related reviews

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SBI Life Insurance Company Underwriter Salary FAQs

What is the salary of Underwriter at SBI Life Insurance Company ?

The average salary of a Underwriter at SBI Life Insurance Company in India typically ranges from ₹2.5 Lakhs to ₹7.3 Lakhs per year, depending on experience (from 1 year to 12 years).

The top 10% of Underwriter at SBI Life Insurance Company earn more than ₹6.2 Lakhs per year, and the top 1% earn over ₹7.3 Lakhs per year. Underwriter Salaries at SBI Life Insurance Company can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 20+ SBI Life Insurance Company employees in India.

What is the estimated take home salary of a Underwriter at SBI Life Insurance Company in India?

The estimated take-home salary of a Underwriter at SBI Life Insurance Company in India typically ranges from ₹34,373 to ₹35,622 per month. This is based on the average salary range of ₹2.5 Lakhs to ₹7.3 Lakhs per year for employees with experience ranging from 1 year to 12 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 20+ salaries received from various employees of SBI Life Insurance Company. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than SBI Life Insurance Company for Underwriter in India?

Gallagher	₹9.0 Lakhs to ₹21.0 Lakhs per year
Life Insurance Corporation of India	₹3.0 Lakhs to ₹20.0 Lakhs per year
SBI General Insurance	₹5.0 Lakhs to ₹14.0 Lakhs per year
Tata AIA Life Insurance	₹6.0 Lakhs to ₹10.5 Lakhs per year
ICICI Lombard General Insurance Company	₹5.0 Lakhs to ₹10.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by SBI Life Insurance Company, depending on the role and experience level.

What is the salary of a Underwriter in companies similar to SBI Life Insurance Company in India?

The salary of a Underwriter at companies similar to SBI Life Insurance Company in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Kotak Mahindara Life Insurance	₹5.1 Lakhs to ₹9.1 Lakhs per year
HDFC Ergo General Insurance	₹3.0 Lakhs to ₹7.2 Lakhs per year
AIG	₹5.0 Lakhs to ₹8.0 Lakhs per year
PNB MetLife	₹2.0 Lakhs to ₹7.0 Lakhs per year
The New India Assurance Co.	₹1.0 Lakhs to ₹5.1 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Underwriter at SBI Life Insurance Company in India?

The salary growth for a Underwriter at SBI Life Insurance Company depends on factors such as experience, performance, and promotions. On average, a Underwriter can expect the following growth trajectory at SBI Life Insurance Company:

Experience	Average Salary Range
1 year	₹3.5 Lakhs to ₹4.0 Lakhs per year
2 years	₹2.5 Lakhs to ₹4.0 Lakhs per year
3 years	₹2.5 Lakhs to ₹4.2 Lakhs per year
4 years	₹3.0 Lakhs to ₹7.5 Lakhs per year

and so on.

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SBI Life Insurance Company Underwriter Salaries

SBI Life Insurance Company Underwriter salary in India ranges between ₹2.5 Lakhs to ₹7.3 Lakhs with an average annual salary of ₹. Salary estimates are based on 24 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.