Article

Credit Guard
June 07 , 2012

If you have taken a home loan, you mortgage the home to the lender till your EMIs are completed. In the event that a misfortune strikes the bread-winner paying for the EMIs, the last thing he would want is for the lender to come and evict the bereaved family from the home.

A credit guard is a life insurance scheme that takes care of this. It insures the life of the person paying back the loan. In case he is not around, the insurance company pays off the remaining EMIs. This form of insurance is extremely important; and we recommend anyone taking a home loan to immediately take a credit guard insurance on his life.

Note that this is very different from fire or home insurance, which takes care of damage or theft in the home itself.

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