Hello Manish,

Many thanks for your support, knowledge, guidance etc. Truly appreciate your help!

Firstly I would like to present my gain by following Jagoinvestor/Manish on Facebook & website :

1) Was able to track my CIBIL and correct a couple of incorrect updates from Bajaj Finance. Which help me increase my credit score and finally got a auto loan.

2) helped me realize opening an RD account to achieve short term goals (my 6months old kids education after 3 yrs) is a safe thing to do.

3) helped me stop buying of a 3rd LIC policy (already have 2 policies) and even realize that buying an online term plan is much better option.

The list goes on, I dont want to go out of the topic now. So will stick to my query for now:

I am planning to buy a online policy term (life cover would be me) for about 30lakhs. I already have LIC policy cover for 10lakhs.  Hence, would like to opt for not more than 30 lakhs. If some unfortunate situation occurs my wife would be sufficient with the total of 40 lakhs for kids education etc etc(note – I get an rental income of 30k, my family can manage with that for monthly expenses).

Coming to my query – I am confused if I have to go for SBI or HDFC or Kotak, request gurus to help me.

I have not included ICICI bcoz i had a few bad exp with them earlier and not comfortable. The other 3 have been selected considering the claim settlement ratio:

1-HDFC (96.17%) – 4952 claims settled(Rs5630 anual premium for 30lakh cover)

2-SBI (95.48%) – 11328 claims settled(Rs5188 anual premium for 30lakh cover)

3 – Kotak (92.1) – 2716 claims settled((Rs6207 anual premium for 30lakh cover))

The premium mentioned above is for tobacco user.

Here is a weird thing – I have quit smoking & alcohol  about 2 years ago, am pretty not sure if I fall under non-smokers category or smoker category. Because the online application says “do you use tobacco or have you used tobacco during the last 5 years”. Am confused if I have to mention No or Yes. Here is another weird thing – I have plans to start smoking and drinking after 15 years from now.

Hence, to be on a safer side I have decided to mention that I am a smoker of 2 cig a day(though i dont as of now). please correct me if this is ok?

Now I am more inclined towards SBI bcoz -1) premium(5188rs) for 30lakh is the same even if you are smoker or a non-smoker 2) somewhat trust on SBI 3) claim settlement ratio & no of claims settled is high.

Kindly request the gurus to educate me on this, am I right in choosing SBI, considering my scenario?

Thanks in advance and sorry about the long message.