Loan guidelines: #4 Take insurance with big-ticket loans
Friday, May 12, 2017, 11:01 AM
If you take a large home or car loan, it is best to take insurance cover as well. Buy a term plan of the same amount to ensure that your family is not saddled with unaffordable debt if something happens to you. The lender will take over the asset (house or car) if your dependents are unable to pay the EMI.