Life Insurance corporation is the oldest and most experienced organization in life insurance. SBI is mainly a banking institution. It is better to choose LIC for insurance policy.
Nowadays most of all insurance companies are same. All company has different insurance plan combinations. As per your insurance needs you can select any insurance company in India.
I am not aware that SBI has any insurance policies like LIC...However both are good in their respective fields , so you can have a LIC policy and a bank account with SBI
Totally your decision. Both are government aided. However LIC has been in the business from years now, whereas SBI has recently came in the insurance sector. LIC has more policies and better claim settlement records than SBI. It is better to go with LIC rather than SBI. However, SBI might try to grab everyone's attention by introducing lucrative policies. If so, you can go with SBI. No doubt both are reliable. Ultimately it's your choice :)
