I wanted to get some information regarding SBI Life Rinn Raksha insurance scheme. Currently am in process of taking Home loan from SBI and they are offering to take this insurance to cover my home loan.
Kindly suggest if it is advisable to take this policy.
There is no such obligatory that you must protect your loan with Life Insurance. Your loan is already mortgaged by them. However, you are free to buy such products. Hence, you can buy a simple term life insurance than sticking to their products. It is all SELLING gimmick by these bank officials.