Shagun – Gift an insurance’ policy is launched by which of the following?

This question was previously asked in
SBI Clerk Mains Memory Based Paper (Held on:31 October 2020)
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  1. General Insurance - Axis Bank
  2. SBI General Insurance
  3. ICICI Lombard General Insurance Company
  4. HDFC Bank
  5. None of the above

Answer (Detailed Solution Below)

Option 2 : SBI General Insurance
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Detailed Solution

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The correct answer is SBI General Insurance.

  • SBI General Insurance, one of the leading general insurance companies in India, announced the launch of first-of-its-kind offering, ‘Shagun – Gift an Insurance”, a unique gift of Personal Accident policy.

Key Points

  • The product was filed by SBI General under the Insurance Regulatory and Development Authority’s (IRDAI) Sandbox regulations.
  • The key differentiating feature of the policy is that it can be gifted to anyone you want, which means it is not necessary for the policy buyer to be related to the insured.

Additional Information

  • State Bank of India is an Indian multinational, public sector banking and financial services statutory body.
    • Chairperson: Dinesh Kumar Khara
    • Headquarters: Mumbai
    • Founded: 1st July 1955 
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