Home Loan Protection Plan: Everyone would love to own a home. Most of us if not all, buy or build homes with the help of home loans taken either from nationalized or private banks. It is not possible for salaried people to build houses without taking loans. At the same time taking a loan is a risk in the event of sudden death.
The home loan protection plan is the best solution
This plan shields the family from the burden of having to pay the remaining loan amount or having to give up the house to the bank that has financed it. Under the home loan protection plan of HDFC one can wipe off these fears while obtaining a housing loan.
Your home loan will be taken care of by the HDFC under this home loan protection plan and you can continue to live in your sweet home and the minimum single premium under this plan in Rs.2000 only.
Other payment options under this scheme include single premium in advance or it can be included in the housing loan EMIs as part of the regular installments. One can avail of a maximum benefit of thirty lakhs under this scheme. A person who is 18 years of age and up to an entry limit of 50 years is eligible to take a policy under this scheme.
Apart from the main benefit of undertaking to replay the loan amount, the other benefits include a single premium to be paid by the policy holder in advance. By doing this you automatically become eligible to get your loan paid off with a reducing the sum over the years. In this way one does not pay for protection that is not needed.
However, in the event of suicide within the first year of taking the policy there will be no claims from the insurance company. At the same time death due to non-accidental causes within the first 90 days of taking the policy will not be taken into consideration.
Take the HDFC Home Loan Protection Plan policy and give your family that peace that you always wanted them to have. Give yourself that peace of mind that will allow you to have a healthy and happy life with your family in the comfort of your own home.
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