SBI or HDFC are offering insurance of 1 crore for a tenure period of 10 years at a premium of 15k per annum.  1. Is it advisible to go for it ?  2. How these banks get benefits as they get 7.5k * 10 = 75k over 10 years and give back 1 crore as final amount 3. How they are able to return high amount ?
I don’t know about cover note insurance. What is this? Can I get it for 1 year?