Insurance on Home loan

January 10, 2013|By Scott J

I had availed Home loan from HDFC and then I was offered insurance from HDFC ERGO. There I was told that apart from other risks like life risk, during risk of the job i.e. during loss of job, I would not have to give EMI till I get employed again ( at least three EMIs ). I got job loss from my last company (BEMCO) in Bahrain on 06.11.13 and came back to India on 08.11.13. My EMI is due on 15th of every month. Therefore, I deposited the EMI in my bank on 13th Nov’13 and talked to HDFC ERGO for claim. I was asked to contact their customer care and in turn they sent me the Form to be filled, which was to be sent to their head office in Mumbai, along with all supporting documents, they required. I sent the form along with supporting documents, on 28.11.13. I got the rejection from them dtd.09.12.13, on the plea that I was terminated due to poor performance and that was not covered in their contract, which they did not tell during convincing me while doing insurance. Now problem is this that I am the sole earning member of my family with three dependents and it is not easy for me to pay my EMIs. Just because poor performance was written in my Termination letter, I am being barred from facility of payback of EMIs due to loss of job. I would like to request you to kindly intervene and help me in my difficult time till I get new employment.

The Board Agenda for reform: A report on deposit insurance to the Congress from the Federal Home Loan Bank Board
Book (The Board)

What should be required? Homeowner's insurance?

2010-05-11 20:15:54 by robbytheclown

I don't think so, at least not governmentally. Granted, I'm not in favor of deadbeats who owe money to others (quite likely without insurance), but there's already too many laws on the books as is, so I'm not in favor of adding another.
As for the dogs in the shelter dying and people not being able to adopt them, I don't really care. Insurance companies shouldn't be forced to lose money because you like pit bulls, and many people simply don't want them.
As for many people not being able to buy a house with cash, I understand that, but you need to understand that a home loan, much like owning a dog, is not a right, and when you have a home loan, rather than owning one outright, you simply don't have as many rights under the law

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ICICI Bank inaugurates a new branch at Indirapuram, Ghaziabad  — Parda Phash
The branch will offer the entire gamut of ICICI Bank products including a comprehensive range of deposits, loans, NRI Services and locker facilities to cater to different customer profiles and needs. Speaking on the occasion Mr.

Cashing in on captives: the Federal Home Loan Bank Act allows companies to use their captive insurers as portals to cheap bank credit.(Cover story): An article from: Risk & Insurance
Book (Axon Group)
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