LIC Home Loan Security / LIC Home Loan Insurance / Home Loan Security / Home Loan Insurance


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LIC Home Loan Security / LIC Home Loan Insurance / Home Loan Security / Home Loan Insurance

Life Insurance Company Provides Following Home Loan   Schemes and Insurance

LIC housing finance ltd is also committed to help non professional loan seekers to take advantage of Griha Shobha LIC home loan project where they can get a minimum LIC home loan of 5,00,000 RS for a maximum time of 10 years. Professionals get an extended advantage of repaying back this LIC housing loan in 15 years.

LIC Home Loan Security / Home Loan Insurance

Even while staying abroad, a true Indian’s heart always belongs to his home land. With the real estate still booming in India it is the best chance for the NRIs to take advantage of LIC NRI home loan plans to buy, construct, renovate, repair or even buy a plot at the place of their choice.

LIC housing finance limited offers LIC NRI home loans in form of Griha Shobha. In order to enjoy LIC NRI home loans an individual should be at least 21 years of age and should have completed his graduation. Also, to become eligible for LIC NRI home loan, a person should have a valid Indian passport. Even PIOs can apply for LIC NRI home loan and have to produce valid foreign passport at the time of submitting the home loan application.


LIC Loan Insurance
The insurance cover provided by LIC on the home loan keeps on plummeting with the payment of the monthly installments. The LIC home loan insurance policy releases a heavy amount of money to the deceased policy holder’s family. However, it does not give any benefits to the applicant if he remains alive.

LIC’s Mortgage Redemption Assurance Policy is aimed at meeting the debt requirements of the policy holder who wants that his family holders don’t have to pay up the home loan once some misfortune befalls him. In order to avail this scheme the applicant has to bear up the cost of the compulsory medical examination. There is no surrender value in this policy and it is generally granted to applicants of 50 years or less. It does not cover any life benefits and the outstanding loans would be paid according to the fixed schedule.
The list below shows how the LIC Mortgage Redemption Assurance Policy works
Entry age - Minimum 20 years and maximum 50 years.
Mode of Payment- Quarterly, monthly, salary saving scheme, half yearly and yearly.
Sum Assured – INR 50000 (minimum) and 1000000 (maximum)
Maximum Maturity Age is 65 years.

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