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Home loan insurance surrender
1 year ago
Hi Sir/Madam,
I have opted home loan in bajaj housing finance, they have added max life insurance for home loan sum assured.
Now I am pre closing the home loan within the insurance coverage duration. I asked them to surrender home loan insurance.. But they are telling this is not possible ... I could see surrender of insurance is possible in bond given to me.
Bajaj finance is telling me that it was communicated in the mail during loan sanction and I have accepted it over mail.
Now can I ask for surrendering of insurance as it is mentioned in bond certificate.
Please suggest me.
A.Dear Client
Based on the information provided, it may be possible for you to surrender the insurance policy associated with your home loan. You should review your loan agreement and consult with a legal expert for guidance on your specific situation.
Based on the information provided, it may be possible for you to surrender the insurance policy associated with your home loan. You should review your loan agreement and consult with a legal expert for guidance on your specific situation.
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A.Dear Sir,
Yes, the provisions of Insurance bond prevail over mails sent by the Bankers. You may get issue a legal notice and approach Banking Ombudsman and High Court if necessary.
Yes, the provisions of Insurance bond prevail over mails sent by the Bankers. You may get issue a legal notice and approach Banking Ombudsman and High Court if necessary.
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