Home Loan Insurance Plan

A home loan insurance plan is a scheme under which the insurer will settle the outstanding home loan amount with the lender or the bank in case of an unforeseen situation.

Home loan insurance plan. A term plan is therefore more affordable as compared to a hlpp. Group mortgage reducing term assurance provides insurance coverage for your home loan. Ooba s buildings protector is a comprehensive plan that protects the structure of your home and it s permanent fixtures and fittings. The best home insurance plan evaluates the value of your home structure and content to derive a pocket friendly premium for securing your home.

The death benefit of a term insurance helps to repay the loans that are still due or simply act as a. Insurance for your home loan. Hdfc life home loan protection plan is a protection plan. Icici bank home loans presents home insurance and secure mind loan protect two exclusive and innovative insurance plans to insure your home loan.

Several home loan insurance providers also offer home loans insurance schemes with optional rider plans to enhance their cover benefits. Life cover a term plan offers a specified protection cover that is payable if the insured dies. It provides financial protection to your family at affordable and cost effective rates. The same cover costs an average of rs 50 000 in a home loan insurance plan.

Death total and permanent disability benefit included. This is a traditional decreasing term plan without bonus facility. Riders like terminal or critical illness accidental death unemployment and disability can be clubbed with home loan protection plans. Home loan insurance is not compulsory while availing home loan.

Home loan insurance supports your family in paying for the outstanding home loan amount. This plan has been designed to help family repay the outstanding home loan in case of an unfortunate death of the life insured. What is home loan insurance. Get household contents and vehicle insurance.

They are also known as home loan protection plan hlpp it is an insurance plan under which the insurer covers the outstanding home loan amount with the lender in case of the untimely demise of the borrower. At hdfc ergo we offer home shield insurance a suitable home insurance plan designed for all types of home and comes at a convincing premium. Term insurance plan or term life insurance plan is a a simple and pure risk cover form of life insurance.