Hi,
I have taken home loan from SBI and also to cover this SBI Smart Shield plan. But 2 months after getting disbursal of the home loan still I have not received any document which states about the policy as well as any document which says that I am insurred for so and so amount for so and so years and these are the terms and condition.
Now I do not want to get into this policy and will look for another private insurance company, but before that just want to know whether I can get my premium amount returned. Which is a one time payment and also have been part of my loan amount, which means in my loan amount the premium amount already added for the policy.
I enquired in SBI but no one gives satisfactory answer. I think there is a rule that within 15 days you can surrender the policy, because in my case the policy even has not started. I do not know whether this is apply to SBI Smart Shield plan?