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Complete Guide to Home Loan Insurance

The Complete Guide to Home Loan Insurance provided by Hero Housing Finance is a comprehensive resource that offers valuable information and insights into the world of home loan insurance. Home loan insurance, also known as mortgage insurance, is a form of financial protection that safeguards homeowners and their families against unforeseen events that may affect their ability to repay the home loan.

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Complete Guide to Home Loan Insurance

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  1. Complete Guide to Home Loan Insurance Obtaining a home loan is a long-term commitment. In unforeseen circumstances where you can't pay the monthly EMI, your family may become responsible, risking your home and investments. HOW TO GET HOME LOAN INSURANCE? Home loan insurance is often offered alongside the loan, usually from your housing loan lender. It protects your house if you can't repay the loan because of job loss. It is essential to check if the insurance covers the entire or partial or entire repayment period.

  2. WHAT YOU CAN DO STARTING TODAY Term insurance: When the policyholder passes away, the term life insurance pays out the sum assured in the form of a lump sum. The beneficiary can use it to pay off the debt or meet any other financial responsibilities. Home loan insurance: The insurance policy is specifically tailored to provide coverage for home loan EMIs in the event of circumstances such as job loss, disability, or death affecting the repayment. PERKS OF OBTAINING HOME LOAN INSURANCE Tax advantage: Bring down your taxable income with the help of section 80C. Repays the debt: Home loan insurance pays off the loan if the borrower dies prematurely, protecting their family from potential house seizure for debt settlement. Riders: Home loan insurance offers added benefits like coverage for unemployment, critical illnesses, and disabilities, easing financial burdens during such circumstances. Cover multiple borrowers: One loan insurance covers multiple borrowers on the same loan application. Multiple payment options: Premiums for the insurance can be paid either in a single lump sum amount or through regular installments.

  3. Home Insurance vs Home Loan Insurance Home insurance protects the property and belongings against risks, while home loan insurance covers the outstanding loan amount in case of the borrower's demise or certain events. ABOUT COMPANY: HERO HOUSING FINANCE LTD. ADDRESS: 9, COMMUNITY CENTRE, BASANT LOK, VASANT VIHAR, NEW DELHI, DELHI, 110057 CONTACT: 1800-212-8800 EMAIL: CUSTOMER.CARE@HEROHFL.COWEBSITE: WEBSITE: HTTPS://WWW.HEROHOUSINGFINANCE.COM/ VISIT HERE: COMPLETE GUIDE TO HOME LOAN INSURANCE

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