The importance of insurance in today’s day and age is profound, especially for debt holders. As you know, life is unpredictable. While borrowing money from hard money lenders is typical, it’s better to consider other options.
For a big-ticket loan such as a home loan, the liability risk is usually high and can last for up to 30 years. In case an unfortunate incident occurs during the loan tenure, leading to non-payment of the outstanding amount, then home loan insurance can cover for it.
What Is a Home Loan insurance?
Home loan insurance or Home Loan Protection Plan (HLPP) is similar to term insurance in which an insurer can settle the outstanding home loan amount with the lender, in case of unprecedented situations including the demise of a borrower.…Continue reading