SBI Life to consider lowering premium rates for term plans

India Infoline News Service | Mumbai | November 14, 2017 09:50 IST

The insurance provider aims to lower premiums to win market share

SBI Life
SBI Life is considering lowering the premium rates on its term plans by as much as 30%, as the insurance company tries to gain market share against rivals HDFC Life and ICICI Prudential Life. 

SBI Life said that improving health awareness and low costs involved in the issuance of online term policies have helped to reduce premium rates.

An online process provides better disclosure of the applicant’s health status which helps insurance companies in the pricing of insurance policies more effectively.

SBI Life has the lowest expense ratios among private insurers.

SBI Life Insurance Company Ltd is currently trading at Rs 658.8, down by Rs 6.8 or 1.02% from its previous closing of Rs 665.6 on the BSE.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 738 on 03-Oct-2017 and a 52 week low of Rs 628.5 on 08-Nov-2017. Last one week high and low of the scrip stood at Rs 680.85 and Rs 628.5 respectively. The stock is currently trading above its 200 DMA.


***Note: This is a NSE Chart

 

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