LIC HFL - ACCOUNT HOLDER DECEASED

3 years ago

Hai,

I am from Coimbatore (Tamilnadu), my family had purchased a house on loan from LIC HFL for a total loan of 35 Lakhs under my Brother's name - Deepak Jebakumar (Age 29). Unfortunately, days before the house warming ceremony my brother had passed away in an accident in Bangkok as he was working in Bangkok during that time. https://www.nationthailand.com/breakingnews/30311576

It has been 3 years now and LIC HFL is requesting us to pay the full amount of 37 Lakhs (Including Interest) or file a case on us as my Father and Mother are also included in the document as Power of Attorney holders. We don't have any source to pay the amount but will be able to pay installments of a maximum of 15000 each month towards the loan. Request to assist!!

LIC had mentioned that there is no insurance cover and hence cannot reduce or waive the charges...

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Kishan Dutt Kalaskar

Responded 3 years ago

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A.Dear Sir
For every loan insurance is compulsory so you may engage advocate and fight . Please give me RANK FIVE {5} if my answer satisfies you.

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Suneel Moudgil

Responded 3 years ago

A.1. the legal heirs of your brother are liable to pay the outstanding loan amount,
2. non-payment of the loan may results in losing the property,
3. consult a lawyer for a thorough discussion,

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