10/3/2026, 2:13:02 pm

Consider loan protection insurance for financial security

Loan protection insurance pays off remaining loan amount if the borrower dies during the tenure. It makes sense for large, long-term loans like home loans that run 20-25 years. If you already have life insurance, it's usually not necessary. Consider term insurance for broader protection. Priced as single-premium insurance, loan protection plans may add unnecessary cost.