Loan Insurance in Vadodara
So your family is not burdened.
If something unexpected happens to you, your loan should not fall on your family. Loan insurance can pay the loan in such a case. We help you pick a plan that matches your loan amount and time.
- We do not lend. The bank decides
- We check your papers before the bank does
- We follow up until the bank answers
What is loan insurance?
Loan insurance is a cover that can help pay the loan that is left if something unexpected happens to the borrower, as the policy says. Some plans may also cover other events, such as a serious illness or disability. What is covered depends on the plan.
Some plans are paid once, and some are paid every year. A bank may offer to add the cost to your loan. You can also look at other plans, such as a term plan, to protect your family. We explain your options and you decide.
Insurance is not always compulsory. Before you buy, ask for the full cost, what is covered and what is not, and how a claim is made.
How Jensi Finloan helps
- Explain how loan insurance works in simple words
- Match the cover to your loan amount and time
- Compare plans and their cost
- Check what is covered and what is not
- Help you fill in the form
- Explain how to make a claim
Details and papers we need
This is a general list. Your bank or insurance company will confirm the exact papers.
What we usually need
- PAN card and Aadhaar card
- Your age and health details
- Details of your loan: bank, amount and time
- Nominee details
- Income proof, for some plans
- A medical test, for some plans
How it works
Five simple steps, from your first call to the bank's answer.
Call or message us
Tell us about your loan and your family.
We explain your options
We explain the kinds of cover, in simple words.
We compare plans
We look at the cover, the cost and what is not covered.
You choose and we fill in the form
We help with the form and the papers.
The insurance company issues the policy
We keep you informed until your policy starts.
What to check before you buy
Ask these questions before you say yes to any plan. We go through them with you.
- Cover amount: does it match the loan you have, and does it reduce as you repay?
- Time: does the cover last as long as the loan?
- Cost: is it paid once or every year, and what is the total?
- What is not covered, and any waiting period
- Who is the nominee, and how does a claim work?
- If you move your loan to another bank later, what happens to the cover?
Common questions
Is loan insurance compulsory?
Not always. A bank may offer it with your loan, but you should understand it before you say yes. Ask for the full cost and what is covered.
Who pays if something happens?
The insurance company pays, as the policy says. The papers and the claim steps depend on the plan.
Should I pay once or every year?
Some plans are paid once and some every year. Compare the total cost over the loan time, not only one payment.
Can a term plan be used instead?
A term plan is another way to protect your family. We explain the difference so you can choose what suits you.
What happens if I move my loan to another bank?
It depends on the plan. Ask before you buy, and tell us if you plan a balance transfer later.
Our other services
Jensi Finloan helps with 8 kinds of loans and insurance.
Talk to Mrugesh about your Loan Insurance
Send your details on WhatsApp or the enquiry form. Mrugesh will contact you. Office: 14 Sai Vihar Society, Waghodia Rd, near Sharnam, Char Rasta, Vadodara 390019.