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- In most of case, the home loan insurance is given for the younger one. Regarding your queries, I would also be intrested to know the answers. Someone on this forum who have more knowledge on this case please reply.CommentQuote0Flag
- adding to the thread, i've bought under construction property jointly with my wife, however, i'm primary applicant for home loan and my wife is co-applicant.
Now in case there is a death scenario/person's in who's name loan is awarded then insurance company will pay entire balance amount to builder or co-applicant(in my case my wife is co-owner as well) will have to pay balance to builder or insurance company bear entire outstanding.CommentQuote0Flag