On 03-Nov-2023 By BANKROLL
Home loans have proven to be a significant advantage for numerous Indians aspiring to purchase a house. Moreover, there are certain tax benefits associated with home loans, making them an attractive option for consumers when acquiring residential properties.
However, its important to realize that taking out a home loan is a long-term commitment that spans several decades. In the unfortunate event of unforeseen circumstances, the responsibility of repaying the loan can fall upon your family. This is where home loan insurance plays a crucial role. Surprisingly, many borrowers are not well-informed about what home loan insurance entails. Lets delve into a detailed understanding of this concept.