Hi,
I have taken a Term Insurance for 50L from SBI
Also I have a Home Loan of Rs15L, also from SBI
.
Now the question is, should I go for Home Loan Insurance?
Will my term insurance be enough to cover my home loan too?
Or should I be more cautious?
.
Term Insurance Premium – Rs. 12K/year
Home Loan Insurance Premium – Rs. 35K (or installment Rs. 7K per year for 5 years)
.
Please advise.
-Prasad