|The ICICI Home loan insurance facility provided by ICICI Home loans provides cover to the home loan acquired by an individual and proves to be beneficial in case of occurrence of any unexpected event in his/her life. It ensures that in wake of any such event the burden of the home loan acquired by the individual doesn't prove to be stressful and doesn't fall as a burden on the concerned person's family. The ICICI home loan insurance supports the family and takes the onus to pay back the remaining home loan installments thus ensuring that your dream of owning a house isn't relinquished.
Insuring the home loan is very significant for any home loan applicant as it comes to the individual's rescue in case something unforeseen happens to him/her. Getting a home loan insurance plan for your home loan is possibly the best way to secure the loan acquired for constructing your home. The home loan insurance plans are basically insurance policies that provide shield to the home loan debt. It doesn't insure your home but the amount of home loan you've taken to construct that house. The ICICI Bank has tied up with ICICI Lombard General Insurance Company and ICICI Prudential Life Insurance Company in order to provide home loan insurance where the amount of loan insured remains fixed. In case of death of the individual who has acquired the home loan the over due amount is cleared off and the balance is paid to the person's family. The ICICI bank home loans offer two unique insurance plans to meet your home loan insurance needs:
Homesafeplus: Under this home loan insurance plan the bank provides certain benefits like - one doesn't have to undergo any medical tests; this plan covers the structure, the articles and contents of the house and also the home loan amount acquired; provides 15% and 25% rebate on a 3 year and 5 year policy respectively; equal EMIs with no extra charges; tax benefits on premium paid for serious illness; amount insured remains consistent throughout the term of the policy and another benefit offered is that more than one loan applicants can be covered under one loan.
Homeassure/Healthassure: ICICI home loans provide some advantages under this home loan insurance plan which are as follows:
For more on ICICI Home loan insurance log on: www.icicibank.com
- Cover for life during the whole tenure of the loan.
- Cover for any serious disease - cancer, bypass, heart attack, kidney failure, organ transplant, heart stroke.
- Non-medical limit specially for the ICICI home loan customers.
- Double tax benefits.
- Simple procedure for insurance claim.