What will be the surrender value of LIC policy after 5 years?
What will be the surrender value of LIC policy after 5 years?
A 100% special surrender value is given out if the policyholder has regularly paid the premiums for five years.
Is property insurance mandatory in India?
Contrary to the bank’s claims, there is no compulsion by the Reserve Bank of India (RBI) or the Insurance Regulatory and Development Authority (IRDA) for home loan applicants to buy any kind of insurance from the bank. Officially, the banks cannot insist you to buy homeowners insurance from them. Sep 30, 2021
Is home insurance mandatory for SBI home loan?
Even though it’s important to purchase an insurance plan while taking a loan, you’re not under any obligation to do so, not from any non-banking finance company or any bank including SBI.
How premium is calculated in property insurance?
Rakesh Jain, CEO, Reliance General Insurance, says, “In case of home insurance, the sum insured and the premium are calculated on the basis of property area, rate of construction (per square feet), and the location of the property. The insured sum of two houses of the same size can be different. Dec 15, 2020
How much home loan can I get on 40000 salary?
How much home loan can I get on my salary? Net monthly income Home loan amount Rs. 30,000 Rs. 25,02,394 Rs. 35,000 Rs. 29,19,460 Rs. 40,000 Rs. 33,36,525 Rs. 45,000 Rs. 37,53,591 4 more rows
