Insurance policies sold with housing Loans - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Wednesday, November 15, 2017

Insurance policies sold with housing Loans


Insurance policies sold with housing Loans

Often, when a person is sanctioned a home loan, banks or housing finance companies also try to sell him home loan insurance (also known as mortgage redemption insurance) or home loan protection plans (HLPPs). 

These plans are for 3 to 5 years for individuals and up to 5 years for group plans.


Typically, the premium is 0.8% to 1% of the sum insured.

This policy pays the sum assured when the policyholder has been diagnosed with any of the 13 critical illnesses covered, accidental death and permanent disability
Insurance policies sold with housing Loans Reviewed by S. Chitra on November 15, 2017 Rating: 5 Insurance policies sold with housing Loans Often, when a person is sanctioned a home loan, banks or housing finance companies also tr...

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ValarThozhil - November 2017