Home loan Vs Home Suraksha plus plan

[rameshavula82@gmail.com]

Hello Team,

As i took my Home Loan 2017 JUNE 

Same time HDFC LTD put compulsory to sign on insurance policy 

(Home Suraksha Plus) paper as well. - I know this is mandatory for all the customers.

So far I have been paying 2 EMI's  monthly ACH-Electronic Clearing (Regular Home loan +Insurace premium) without default since past 5 years .

After 5 yrs struggling, I successfully closed my Home loan last month.

i was trying to close Home Suraksha Plus but insurance company demand NOC foreclosure letter , but HDFC ltd cant give NOC and foreclosure until insurace closed its funny between both of them.

Never accept something like Home Suraksha Plus its useless actually...extra burden for EMI monthly basis

[N.Kumari · Accepted solution]

Hi,

For cancellation of policy we would require Loan closure letter or Noc document, if loan is closed.

You can visit self help option from Website WWW.hdfcergo.com and upload the required document for the cancellation of policy .

[BHAT7412]

Hi,

I believe the insurace (home suraksha plus) covers the loan tenure (lets say 15 or 20 years).

When the insurance premium were paid against the loan tenure (say 15 years) and if the customer has closed it in 5 years, what happens to the premium paid & how is it processed?