Question about term Insurance SBI Life - Shield

Discussion in 'Insurance' started by jesrani, Jan 4, 2010.

  1. jesrani

    jesrani New Member

    Mar 10, 2009
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    Hello, I am having number of LIC money-back policies. I want to increase my cover by another 10 lacs but I don;t want to go for money back policies.
    I checked out SBI - Life shield. It is a term policy with 5% sum assured increase every year. For 10 lacs sum assured, the yearly premium is about Rs.6700 and single premium is about Rs.97000. So I thought if I invest Rs.100000 in fixed deposit (10 years) in SBI @ 8% per annum, I cover the premium as well as my principle is available. Does this seem like a good idea? How is SBI life security wise, since it is govt. owned, should be safe. Please advice.
  2. shanki99

    shanki99 Well-Known Member

    Aug 28, 2008
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    What is Govt owned? Only SBI bank is govt owned and not the insurance venture. As long as they do good, no problem. Indeed they are good and are no1 player in india based on their group insurance business.

    In whichever way u calculate, premium paid towards term insurance policies are always not refunded. Look for term insurance policies with return of premiums paid, in-case of surviving the term of the policy.

    U shud also compare term insrurance policy premiums offered by various top notch companies such as LIC, SBI, Allianzbajaj, ICICI, HDFC.

    I remember to have seen a LIC term policy which was offered for 25 yrs (max among other life ins players) if u are less than 35 yrs old...just have a search.

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