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POSTED BY ON March 27, 2014 9:11 pm COMMENTS (5)
Hello Ashal,
I am having SBI max gain Home loan account. I have taken both SBI Life insurance and properly insurance. But now i want to forclose this Home loan account. But i don’t know what will happened to those insurance.
I want to keep this insurance going. how far they will continue and how to renew them once the expire?
If it is not possible to continue those insurance how to take new properly insurance?
which would be feasible continuing the same insurance or taking new one upone closure of home loan account?
Could you please guide me on this point?
Thanks in advance.
Best regards,
Ganga.
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Dear Ganga, please read the property insurance policy papers. The insurance term is equal to loan term in all probability. Yes you can renew it after expiry of the original term.
Thanks
Ashal
Hello Ashal,
what will be tenure of property insurance? can i renew this property insurance once it expires?
Which is the best property insurance currently?
Thanks
Best reagrds,
Ganga..
Dear Ganga, the life insurance related prem. can be recovered a bit for remaining term of loan. Home insurance, I think you should continue as it’s providing cover for your house in which you are still residing.
Thanks
Ashal
Hello Ashal,
Thanks for quick reply.
The reason is – I want to take new home and for that purpose i want to take new SBI max gain home loan.
Could you please guide me on the question of insurance in detail?
It would be great help and i don’t want to ask SBI staff as almost everybody gives different answers.
Thanks in advance..
Dear Ganga, as it’s Max Gain, why do you want to foreclose it?
Thanks
Ashal