General Insurance Company Home Loan
Home loan insurance supports your family in paying for the outstanding home loan amount.
General insurance company home loan. Home loan insurance is similar to a term insurance. Once the outstanding loan amount has been paid the insurance term expires. Gic home loan gic housing finance limited was established as gic grih vitta limited on december 12 1989 with the objective of granting housing loans to individuals and to persons entities engaged in construction of houses flats for residential purposes. Sbi general insurance company limited i corporate registered office.
You don t need to purchase optional mortgage insurance to be approved for a mortgage. Hdfc life home loan protection plan is a protection plan. There are important limits on the coverage that optional mortgage insurance products provide. This plan has been designed to help family repay the outstanding home loan in case of an unfortunate death of the life insured.
We recommend the general for drivers in the high risk category. To get mortgage loan insurance you ll need a minimum down payment. For sbi general insurance company limited irdai reg. For more details on risk factors terms and conditions please refer to the sales brochure and policy wordings carefully before concluding a sale.
This is a traditional decreasing term plan without bonus facility. Home loan insurance can be purchased either from a general insurance company or a life insurance company. How it works in this plan premium can be paid in a lump sum as single premium. The policies offered by life insurance companies are for longer terms.
If the home costs 500 000 or less you ll need a minimum down payment of 5. The general for short is a subsidiary of pgc holdings corporation which is an affiliate of american family insurance. Natraj 301 junction of western express highway andheri kurla road andheri east mumbai 400 069. Credit or loan insurance is usually offered at the time your mortgage line of credit credit card or loan is being approved.
The ones that are offered by the general insurance companies need to be renewed on an annual basis. Optional mortgage insurance is a type of credit and loan insurance that you are usually offered when you take out or renew a mortgage. You are covered under this insurance till the period of your loan repayment. Credit or loan insurance provides coverage that may help you pay off your loan or make your loan or credit card payments in the event of job loss critical illness accident or death.
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