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Manipal Housing Finance Syndicate Limited

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MHFSL undertakes marketing of insurance products to its housing loan borrowers. The company has tie-up with a couple of reputed insurance companies in this behalf.

In order to avoid/eliminate the risk, the borrowers can go in for life insurance cover with assignment of the relative policy in favour of MHFSL. If insurance cover is available, the liability under the housing loan account can be met from out of the claim amount in the event of death of the principal borrower.

Products useful to borrowers:

  • One time premium policy with sum assured equivalent to loan amount. MHFSL will enhance loan amount to the extent of one time premium payable if required.
  • Normal Policy as an investment covering life of the borrower and with profits where under premium has to be paid periodically.