How much does a home loan insurance cost?
How much does a home loan insurance cost?
The premium for a term plan of 1Cr would be around Rs 8,000 to Rs 15,000. The same cover costs an average of Rs 50,000 in a home loan insurance plan. A term plan is therefore more affordable as compared to a HLPP. Dec 18, 2018
What is the benefit of house loan insurance?
A home loan insurance policy ensures the home loan of a borrower is paid by the insurance company in case the person is unable to make the EMI payments due to unforeseen circumstances. Such situations may arise due to sudden death of the primary borrower, job loss, or major accident. Dec 2, 2021
What is home mortgage protection insurance?
Mortgage protection insurance (MPI) is a type of life insurance designed to pay off your mortgage if you were to pass away — and some policies also cover mortgage payments (usually for a limited period of time) if you become disabled.
