I have taken a home loan. I wanted to take mortgage insurance to cover the risk. Please let me know various products available and please also tell me if it better to go for mortgage plan or term plan?
I have taken a home loan. I wanted to take mortgage insurance to cover the risk. Please let me know various products available and please also tell me if it better to go for mortgage plan or term plan?
I would prefer mortgage plan because it keeps decreasing with the loan amount, so you will pay less premium when the loan amount is less.
Mortgage plan, if you already have full term insurance coverage.Quote:
Originally Posted by Anil Patil
A mortgage plan is deliberately more safer and it is eventually more appropriate in your home loan. The mortgage plan has more basis on it's coverage than just of the term plan.