10 Mar 2026 | 5 Mins Read
Consider loan protection insurance for financial security
Flipitmoney
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.