Monday, 29 December 2008

Term Policy

SBI term policy is one of the most successful and economical policy schemes for insuring oneself with a maximum amount of sum-assured with a minimal annual premium.I have seen many of my friends, who with out knowledge have gone for more premiums in other insurance schemes. After a considerable amount of study and advices from financial experts, I have taken a SBI-term policy called SBI-Shield of basic sum-assured to 30 lacs with an annual premium of 9000 odd rupees. This covers me up to 25 years from now.Apart from that,it provides other riders(benefits) like Accident/Permanent disability rider and premium waiver rider.

One has to remember that, this coverage amount lapses after the term is over.This means, you won't get any amount as long as you live.That doesn't mean that you have to count your days and pray to the god to take you away before the term is over.Note that, once the period is over you can extend the policy for another 25 years.This policy is purely to withstand the uncertainties of the future to make sure that your family is safe and secure amidst all financial crunches in your absence.

In my opinion, paying 750/- per month for our life is not a big deal compare to our extravagant expenditure.

For more information you can log onto :

Disclaimer : This is not a publicity stunt for sbi insurance policies.Please note that, I have shared my personal information for the benefit of all the people who may not afford to pay huge amount of premiums every year.It is up to the individuals about what to opt and what not to opt for. There are numerous term policy schemes from many other insurance companies.SBI-life is one of them.

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