SBI Life Insurance Company Underwriting Manager Salaries by 5 Employees (Updated 2025)

1 - 14 years exp.

₹8 Lakhs - ₹11 Lakhs

Low Confidence

Salary of majority employees

Fixed (82%)

₹7.9 Lakhs

Variable (18%)

₹1.7 Lakh

7% more than the average Underwriting Manager Salary in Insurance Companies for 1 - 14 years of experience

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Salaries in different departments

BFSI, Investments & Trading Underwriting Manager Salary 4 - 14 years exp. (3 salaries)	₹8.5 L/yr - ₹10.5 L/yr
Human Resources Underwriting Manager Salary 1 year exp. (AmbitionBox Estimate)	₹7.2 L/yr - ₹8.8 L/yr
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Healthcare & Life Sciences Underwriting Manager Salary 2 years exp. (AmbitionBox Estimate)	₹9.9 L/yr - ₹12.1 L/yr

Last Updated: 2 Mar 2025

Companies similar to SBI Life Insurance Company for Underwriting Manager

Company name	Avg Annual Salary	Open Jobs
ICICI Prudential Life Insurance Underwriting Manager Salary 0 - 16 years exp. (14 salaries)	₹6 L/yr - ₹10.5 L/yr 14% less
HDFC Life Underwriting Manager Salary 12 - 17 years exp. (5 salaries)	₹9.7 L/yr - ₹18.5 L/yr 33% more
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Max Life Insurance Underwriting Manager Salary 5 - 14 years exp. (3 salaries)	₹8.5 L/yr - ₹10 L/yr 1% less
Kotak Mahindara Life Insurance Underwriting Manager Salary 1 - 3 years exp. (5 salaries)	₹5.1 L/yr - ₹8.4 L/yr 34% less
Tata AIA Life Insurance Underwriting Manager Salary 12 - 18 years exp. (7 salaries)	₹7.8 L/yr - ₹18 L/yr 29% more
Aditya Birla Sun Life Insurance Underwriting Manager Salary 7 - 10 years exp. (4 salaries)	₹10.1 L/yr - ₹13.4 L/yr 16% more
PNB MetLife Underwriting Manager Salary 2 - 16 years exp. (4 salaries)	₹3.9 L/yr - ₹11.4 L/yr 24% less
SBI General Insurance Underwriting Manager Salary 7 - 15 years exp. (26 salaries)	₹5.8 L/yr - ₹13.5 L/yr 12% more
HDFC Ergo General Insurance Underwriting Manager Salary 1 - 13 years exp. (16 salaries)	₹5.1 L/yr - ₹18.5 L/yr 13% more
ICICI Lombard General Insurance Company Underwriting Manager Salary 1 - 17 years exp. (9 salaries)	₹5.8 L/yr - ₹14.5 L/yr 7% less
Gallagher Underwriting Manager Salary 7 - 10 years exp. (5 salaries)	₹12 L/yr - ₹13 L/yr 31% more
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Aditya Birla Health Insurance Co Underwriting Manager Salary 9 - 11 years exp. (5 salaries)	₹8.2 L/yr - ₹10.5 L/yr 1% more
Bajaj Allianz General Insurance Underwriting Manager Salary 10 - 17 years exp. (5 salaries)	₹17 L/yr - ₹22 L/yr 103% more
Star Health & Allied Insurance Underwriting Manager Salary 3 - 5 years exp. (3 salaries)	₹3 L/yr - ₹5.1 L/yr 52% less
AIG Underwriting Manager Salary 9 - 14 years exp. (3 salaries)	₹14.3 L/yr - ₹21.1 L/yr 70% more

Underwriting Manager salary at SBI Life Insurance Company ranges between ₹8 Lakhs to ₹11 Lakhs per year for employees with experience between 1 year to 14 years. Salary estimates are based on 5 latest salaries received from various employees of SBI Life Insurance Company.

Experience wise SBI Life Insurance Company Underwriting Manager salaries

Last Updated: 2 Mar 2025

Experience	Avg Annual Salary
1 year (AmbitionBox Estimate)	₹8 L/yr - ₹17.7 L/yr
2 years (AmbitionBox Estimate)	₹3.9 L/yr - ₹11 L/yr
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3 years (AmbitionBox Estimate)	₹8.8 L/yr - ₹11.2 L/yr
4 years (AmbitionBox Estimate)	₹3.9 L/yr - ₹10.5 L/yr
5 years (AmbitionBox Estimate)	₹8.7 L/yr - ₹11.2 L/yr
6 years (AmbitionBox Estimate)	₹8.7 L/yr - ₹11.1 L/yr
7 years (AmbitionBox Estimate)	₹8.7 L/yr - ₹11.1 L/yr
8 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹11 L/yr
9 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹11 L/yr
10 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹11 L/yr
11 years (AmbitionBox Estimate)	₹8.6 L/yr - ₹10.9 L/yr
12 years (AmbitionBox Estimate)	₹8.5 L/yr - ₹10.9 L/yr
13 years (AmbitionBox Estimate)	₹3.8 L/yr - ₹10.2 L/yr
14 years (AmbitionBox Estimate)	₹8.5 L/yr - ₹16.9 L/yr

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Salary related reviews for SBI Life Insurance Company

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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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 Underwriting Manager Salary FAQs

What is the salary of Underwriting Manager at SBI Life Insurance Company?

Underwriting Manager salary at SBI Life Insurance Company in India ranges between ₹8.0 Lakhs to ₹11.0 Lakhs for experience between 1 years to 14 years. According to our estimates it is 7% more than the average Underwriting Manager Salary in India. Salary estimates are based on 5 latest salaries received from various employees of SBI Life Insurance Company India.

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

The average salary of a Underwriting Manager at SBI Life Insurance Company is 7% more than the average salary of a Underwriting Manager in India. To know exact salary insights, login to view.

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

Bajaj Allianz General Insurance Underwriting Manager Salary - ₹17.0 Lakhs to ₹22.0 Lakhs per year
AIG Underwriting Manager Salary - ₹14.3 Lakhs to ₹21.1 Lakhs per year
HDFC Life Underwriting Manager Salary - ₹9.7 Lakhs to ₹18.5 Lakhs per year
Gallagher Underwriting Manager Salary - ₹12.0 Lakhs to ₹13.0 Lakhs per year
Tata AIA Life Insurance Underwriting Manager Salary - ₹7.8 Lakhs to ₹18.0 Lakhs per year

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

Aditya Birla Sun Life Insurance Underwriting Manager Salary - ₹10.1 Lakhs to ₹13.4 Lakhs per year
HDFC Ergo General Insurance Underwriting Manager Salary - ₹5.1 Lakhs to ₹18.5 Lakhs per year
SBI General Insurance Underwriting Manager Salary - ₹5.8 Lakhs to ₹13.5 Lakhs per year
Aditya Birla Health Insurance Co Underwriting Manager Salary - ₹8.2 Lakhs to ₹10.5 Lakhs per year
Max Life Insurance Underwriting Manager Salary - ₹8.5 Lakhs to ₹10.0 Lakhs per year

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

The estimated take-home salary of a Underwriting Manager at SBI Life Insurance Company ranges between ₹69,677 per month to ₹71,467 per month in India. The take-home salary calculation is based on the average SBI Life Insurance Company Underwriting Manager salary in India which ranges between ₹8.0 Lakhs to ₹11.0 Lakhs per year for employees with experience between 1 years to 14 years. Check how did we calculate take home salary?

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

According to AmbitionBox, 100% of the SBI Life Insurance Company Underwriting Managers reported a notice period of 3 Months.This is based on 3 responses on AmbitionBox in last 2 years.

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SBI Life Insurance Company Underwriting Manager Salaries

SBI Life Insurance Company Underwriting Manager salary in India ranges between ₹8 Lakhs to ₹11 Lakhs with an average annual salary of ₹. Salary estimates are based on 5 SBI Life Insurance Company latest salaries received from various employees of SBI Life Insurance Company.