Tuesday, June 23, 2009

Against Life Insurance Loan



Against Life Insurance Loan
Advance against Life Insurance Policies
If a survey is conducted on the common forms of investments made by salaried people across all the cross- sections of the society, life insurance policies will perhaps top the list. One of the important reasons for the popularity of life insurance policies is the Income Tax exemption available on the premium paid on such policies. Besides being a financial instrument to cover the life risk of policy holders, life insurance policies also play an important role as an investment made during one’s entire working life. It is, therefore, not surprising that bank customers offer life insurance policies as collateral securities, be it a proposal for retail credit or a big ticket finance. Collateralization of loans by way of assignment of life insurance policies have, of late, become more important in view of the surge in home finance, where the financial institution insists on an insurance on the life of the borrower, duly assigned in its favour, Also, in financing ventures where the role of a particular person is important for the very survival of the venture as well as the safety of the bank loan, life insurance policies have emerged as a key security instrument. The importance of loans against the security of life insurance policy has acquired a new dimension.
To APPLY FOR AGAINST LIFE INSURANCE LOAN

1 comment:

  1. Interesting information I haven’t been through such information in a long time.
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