For many borrowers, the toughest moment in the home loan process comes right at the end. The loan is approved, the documents are ready, and just before disbursal, the bank tells them they must buy an insurance policy. It is often presented as compulsory, usually described as a safety requirement, and sometimes even implied as a condition for loan approval. Most people agree because they are afraid the loan might get delayed or cancelled.
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But the truth is simple. Home loan insurance is not mandatory.
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