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INTERVIEW QUESTIONS
INSURANCE
HOME INSURANCE
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Question: What is difference between Home insurance and home loan insurance?
Answer: Home insurance and home loan insurance are two distinct products. Home loan insurance offers a protective cover for the home loan in case of the demise or permanent disability of the home loan borrower. In case you have taken up a home loan and are unable to repay the loan due to disability or death, home loan insurance pays the loan on behalf of you.
On the other hand, a home insurance policy offers protective coverage for the building structure and home valuables offering protection against damages caused by man made or natural calamities like floods, rains, fire and theft. A basic home insurance protection offers a standard fire cover policy and burglary coverage. You can also take optional protective covers including protection against house break for valuable content.
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Home Insurance Interview Questions & Answers -
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Question:
What is difference between Home insurance and home loan insurance?
Answer:
Home insurance and home loan insurance are two distinct products. Home loan insurance offers a protective cover for the home loan in case of the demise or permanent disability of the home loan borrower. In case you have taken up a home loan and are unable to repay the loan due to disability or death, home loan insurance pays the loan on behalf of you.
On the other hand, a home insurance policy offers protective coverage for the building structure and home valuables offering protection against damages caused by man made or natural calamities like floods, rains, fire and theft. A basic home insurance protection offers a standard fire cover policy and burglary coverage. You can also take optional protective covers including protection against house break for valuable content. Source: CoolInterview.com
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