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. (11 salaries)	₹3 L/yr - ₹6.7 L/yr
BFSI, Investments & Trading Underwriter Salary 3 - 7 years exp. (3 salaries)	₹2.5 L/yr - ₹5.2 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
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 19% less
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Axis Max Life Insurance Underwriter Salary 1 - 5 years exp. (11 salaries)	₹2.1 L/yr - ₹3.1 L/yr 47% less
Bajaj Allianz Life Insurance Underwriter Salary 1 - 11 years exp. (10 salaries)	₹2.4 L/yr - ₹8 L/yr 11% less
Kotak Mahindara Life Insurance Underwriter Salary 0 - 3 years exp. (6 salaries)	₹5.1 L/yr - ₹9.1 L/yr 54% more
Tata AIA Life Insurance Underwriter Salary 0 - 15 years exp. (3 salaries)	₹6 L/yr - ₹10.5 L/yr 92% more	2 job openings
Aditya Birla Sun Life Insurance Underwriter Salary 0 - 4 years exp. (6 salaries)	₹1.7 L/yr - ₹3.5 L/yr 34% less
PNB MetLife Underwriter Salary 2 - 8 years exp. (4 salaries)	₹2 L/yr - ₹7 L/yr 13% more
Life Insurance Corporation of India Underwriter Salary 3 - 31 years exp. (4 salaries)	₹3 L/yr - ₹20 L/yr 139% more
Star Health & Allied Insurance Underwriter Salary 0 - 8 years exp. (65 salaries)	₹1.4 L/yr - ₹4.1 L/yr 42% 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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HDFC Ergo General Insurance Underwriter Salary 0 - 7 years exp. (13 salaries)	₹3 L/yr - ₹7.2 L/yr 50% more
Bajaj Allianz General Insurance Underwriter Salary 2 - 10 years exp. (11 salaries)	₹1 L/yr - ₹5.7 L/yr 21% less	2 job openings
Gallagher Underwriter Salary 3 - 13 years exp. (10 salaries)	₹9 L/yr - ₹21 L/yr 174% more
SBI General Insurance Underwriter Salary 0 - 14 years exp. (9 salaries)	₹5 L/yr - ₹14 L/yr 133% more
The New India Assurance Co. Underwriter Salary 0 - 6 years exp. (8 salaries)	₹1 L/yr - ₹5.1 L/yr 9% more
Shriram Life Insurance Underwriter Salary 1 - 5 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
The Oriental Insurance Co. Underwriter Salary 1 - 7 years exp. (4 salaries)	₹1.2 L/yr - ₹3.8 L/yr 58% less
AIG Underwriter Salary 0 - 6 years exp. (4 salaries)	₹5 L/yr - ₹8 L/yr 30% more

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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 25 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 (3 salaries)	₹3.5 L/yr - ₹6.7 L/yr
7 years (AmbitionBox Estimate)	₹2.9 L/yr - ₹8.5 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

(15 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

(537 salaries)

₹2 L/yr - ₹7 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)

₹5.1 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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1w (edited)

an associate vice president

Offer Accepted

I was getting 15.2 LPA in my previous org and now i am being offered 29.5 LPA but the designation is 1 position lower than what i was in my previous org. Should i go ahead with the offer or still negotiate on designation. Protip : i was laid off in my previous org.

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SBI Life Insurance Company Underwriter Salary FAQs

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

Underwriter salary at SBI Life Insurance Company in India ranges between ₹2.5 Lakhs to ₹7.3 Lakhs for experience between 1 years to 12 years. According to our estimates it is 14% less than the average Underwriter Salary in India. Salary estimates are based on 25 latest salaries received from various employees of SBI Life Insurance Company India.

How does the salary of a Underwriter at SBI Life Insurance Company India compare with the average salary range for this job?

The average salary of a Underwriter at SBI Life Insurance Company is 14% less than the average salary of a Underwriter in India. To know exact salary insights, login to view.

Which similar companies are paying more than SBI Life Insurance Company to a Underwriter in India?

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

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

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

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 ranges between ₹34,406 per month to ₹35,654 per month in India. The take-home salary calculation is based on the average SBI Life Insurance Company Underwriter salary in India which ranges between ₹2.5 Lakhs to ₹7.3 Lakhs per year for employees with experience between 1 years to 12 years. Check how did we calculate take home salary?

What is the notice period for Underwriter at SBI Life Insurance Company?

According to AmbitionBox, 57% of the SBI Life Insurance Company Underwriters reported a notice period of 3 Months, 29% reported a notice period of 1 Month and the remaining reported other notice period durations. This is based on 21 responses on AmbitionBox in last 2 years.

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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 25 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.