There are times when individuals take loans from financial institutions and entities for investing in financial instruments including life insurance to provide a comfortable life insurance policy to their loved ones. Loans can also ease the burden of caregivers in families, enabling them to secure the future of their loved ones, or make their dreams come true. At the same time, it is important for lenders to ensure that their money is secure, while they continue to help individuals and families fulfil their goals and ambitions.
The Tata AIA Life Insurance Group Loan Protect plan gives the peace of mind that comes from knowing that loan is secure. This insurance policy provides coverage against a wide range of uncertainties, such as death, terminal illness, total permanent disability and critical illness. Should any of these eventualities occur, the outstanding amount is taken care of under this policy, thereby protecting business, while the burden of the loan is taken off the shoulders of the family. The Tata AIA Life Insurance Group Loan Protect plan is offered to banks, financial institutions, and non-banking financial institutions (NBFCs), who are authorized, and have the license to disburse loans.