Dear Jago Investor,

First of all, i am really very thankful for the information and service provided by your website.

My Query:

I have an SBI Maxgain Home Loan for about 37 Lacs.

I am planning to Buy an Online Term Plan which can cover the loan risk in case of unfortunate event.

I have shortlisted 2 Term Insurance Policies.

1) SBI Life Eshield

2) HDFC Life Click 2 Protect

The Premium amount for both the above policies for 50L sum assured is almost the same.

I was concerned about medical test being conducted on buying on online policy. I am of the opinion that medical test should be conducted by insurance company as it will start the relationship with the insurance provider in a good faith. However, HDFC Life conducts medicals only on Sum assured of 75 lacs and above. I am not sure what is the criteria in SBI Life ? On Speaking with SBI Cust care, they said it depends on your annual pay and other factors which will then be decided by the underwriting team if medicals are required or not.

Thus, to have a undisputed claim settlement later, i think that it better to have medicals test done at the time of buying the policy or is it ok to go for an Term plan without medicals and disclosing all the true facts about my cuurent health and health of the family members ???

Please let me know your views on this ???

Also, since my Home loan is from SBI, does it make any good to have the term insurance only from SBI Life. will it simplify things at claim settlement in anyways in case of unfortunate event ???