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Loan Repayment Protection Insurance
Loan Repayment Protection Insurance
Unfortunate events in life cannot be prevented, but you can still plan to protect your family against such mishaps. Especially when it comes to paying off your Home Loan installments.
Tata AIG Life Insurance Company Ltd.'s Home Loan Protection Plan (HLPP) is designed to safeguard your family from the burden of your loans. So you can rest easy knowing that even if something were to happen to you, the home you buy will remain with your family.
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Features & Benefits
- Low premium rates as it is a special group policy that HSBC has arranged from Tata AIG Life Insurance Company, especially for its loan customers
- In the unfortunate event of death or disability of the primary applicant of a Home loan from HSBC, the proceeds of the policy will be paid to HSBC to cover your loan balance. Surplus amount, if any will be paid to you or in the event of your death, to your nominee
- Option of paying a single lumpsum premium or with your monthly loan Equated Monthly Instalments (EMI)
- Reducing coverage of the insurance as your outstanding loan amount reduces. This is reflected in the insurance premium that you would be paying
Eligibility
Only HSBC Home Loan (mortgage) customers are eligible. HSBC will act as an administrator for collections and remittances of premiums and submission of your application form to Tata AIG Life Insurance Company Ltd.
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Disclaimer:
Insurance is the subject matter of the solicitation. Conditions Apply. Please refer to the policy contract for details. This policy is underwritten by Tata AIG Life Insurance Company Ltd., whose registered office is at Peninsula Towers, 6th Floor, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013. This information is given by The Hongkong and Shanghai Banking Corporation Limited, India, whose registered office is 52/60, M. G. Road, Fort, Mumbai 400001, and does not accept any responsibility for Tata AIG's actions or decisions.
