POSTED BY October 25, 2013 10:32 am COMMENTS (4)
ONHello,
I would like to take a term insurance. I am 30 years old. I am planning to take a sum assured of 25L for a period of 30 years. I prefer an insurance with high reliability, transparency and good service. I am confused to chose the suitable term insurance. Here are the options I consider and my comments,
1. SBI smart shield – The Accidental Death Benefit (ADB) and other riders are removed from 1st Oct 2013.
2. SBI e shield – Online term insurance. It has ADB riders and bit cheaper compare to offline.
3. Kotak mahindra preferred term plan – It has ADB riders and bit cheaper than SBI smart shield.
4. Kotak mahindra e-preferred term plan – It is a comprehensive online term plan with a step up option and cheaper.
Which is the best among four? I think online term plan are attractive but I am worried about the reliability as I read many warnings and bad experiences about online term insurance. Also I trust SBI over Kotak just as a common man.
Please give your valubale suggestions and help me to chose a better plan.
Thanks
bishebi
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Dear Bishebi, I have purchased Aviva online term cover. I’m comfortable with my insurer. If you are asking of disadvantages in terms of claim settlement, I want to clear that process is same for offline and online policies.
I w’d prefer a plain vaniall Term cover and ‘ll purchase accident plan from general insurer. Rider has very limited cover by definition.
Thanks
Ashal
Dear Bishebi, please opt SBI E- shield if you are comfortable with online plans.
Thanks
Ashal
Hi Ashal,
Thanks.
May I ask you if you have taken SBI e-shield? If yes, how is your experience?
What are the disadvantages of online term insurance that you may think?
SBI smart shield has no more Accidental Death Benefit riders. Is Acceidental Death Benefit really required? What could be the reason that they removed this option suddenly?
Dear Sir,.
We request you to elaborate your concerns and write to us at clientservicedesk@kotak.com to be able to assist you at the earliest.
Regards,
Kotak Support Team