Life insurance police against home loan
jatin sharma
(Querist) 23 October 2012
This query is : Resolved
hi,
kindly explain me that, pre existing housing loan interest is covered in life insurance policy against home loan?
brief facts are that.
the deceased person took the loan from bank in 2000 and after that in 2004 he got life insurance against housing loan.The benefit of insurance is that in the event of death of insured person the insurance company paid out standing loan amount with interest. now the insurance company paid just interest amount from the date of insurance done with principal home loan amount and making excused to pay the pre existing loan interest amount
thanks in advance.
Devajyoti Barman
(Expert) 23 October 2012
What was the actual terms of the Insurance Policy that needs to be looked into.
If the Insurance Company defaults in its terms then lodge complaint with Insurance Ombudsman.
If no desired result is forthcoming then go to the consumer forum.