INTERVIEW QUESTIONS INSURANCE ENDOWMENT PLANS DETAILS

Question: What are the documents i need if seeking a loan on my insurance plan?

Answer: You will need to furnish the original life insurance policy and submit the same with the bank or the life insurance company. You will also need to furnish a deed of assignment which ensures that benefits of the insurance policy will be assigned to the bank or insurance company during the loan tenure. Some banks also seek payment receipts of future premiums and a cancelled cheque to complete the documentation for loan against life insurance policy.

You will need to furnish the original life insurance policy and submit the same with the bank or the life insurance company. You will also need to furnish a deed of assignment which ensures that benefits of the insurance policy will be assigned to the bank or insurance company during the loan tenure. Some banks also seek payment receipts of future premiums and a cancelled cheque to complete the documentation for loan against life insurance policy. Source: CoolInterview.com

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