So, will bank still look for a guarantor, when one has gone for a insurance? Assuming insurance is expected to cover the entire loan amount incase of unforseen death. And I think, none would like to default and only the circumstances would lead to it. For eg. a person losing a job, in such instances, I think bank is gracious enough to understand such situation and accordingly either reduce the EMI or pause the payment till the person gets job.

Any thoughts?

Thanks
Sunil Kumar