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Loan Insurance

Checklist of Documents Required for Insurance Policy

Loan Insurance:

Securing Your Future and Safeguarding Your Loved Ones

What is Loan Insurance?

Loan insurance is a protective financial cover that ensures your loan obligations are met in the event of unforeseen circumstances such as job loss, disability (temporary or permanent), or untimely death. It prevents loan defaults and shields your family from the burden of repayment during difficult times.

TSL Loan Insurance Offering

TSL offers loans with an optional loan protection insurance. Borrowers have the flexibility to either opt in or decline this coverage based on their individual needs and preferences.

Key Benefits of Loan Protection Insurance
Coverage for Life’s Uncertainties

Protects against job loss, accidental death, and disability by covering EMIs or reducing the outstanding loan amount.

Financial Security for Your Family

Ensures that your family is not held financially liable for repaying the loan in case of unfortunate events.

Tax Advantages

Certain loan insurance policies qualify for tax deductions under Section 80C of the Income Tax Act.

Money-Back Options

Select plans offer a return of premium or lump sum payout at the end of the policy term, combining protection with savings.

Property Documents Required For Loan Insurance:

NOC from Society/Builder A detailed estimate of the cost of construction of the house Registered Sale Deed, Allotment Letter, or Stamped Agreement of Sale with the Builder (original document) Occupancy Certificate (in case of ready-to-move-in properties) Property Tax Receipts, Maintenance Bills, and Electricity Bills Receipts of the advance payments made towards the purchase of flat (original document) An approved copy of the building plan (key plan/floor plan in case of purchase of flats) Original of the land tax paid receipt and possession certificate as issued by the revenue authority Payment receipt or bank account statements showing payments made to the Builder or Seller For Terms and Conditions, please contact the D.M.A.