POSTED BY March 8, 2013 7:43 pm COMMENTS (2)
ONSir,
I had a taken a house loan recently from SBI for Rs.20 L under maxgain. Loan period is 20 years. They have asked me to pay loan insurnce premoum of Rs.80,000 which will be paid in first 5 years. This is for the homaloan insurance.
Plese advise…
Sharma
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Dear Mr.Sharma,
Opt for the home loan insurance only if you feel a need to do so. And what exact advise do you need ?
Regards,
Credexpert
Dear Ganeshwer/Sharma, the insurance you are referring to is Mortgage term cover offered from SBI Life & nothing but a cross selling. If you are already covered adequately more than your loan amount, you need to opt this insurance.
Thanks
Ashal