Education and Career Forum

I have heard that Indian Bank is providing Insurance Policy for Education Loan borrowers. Please tell me what Insurance Policy this Bank is offering? What are the advantages of getting this policy?

Yes, there is insurance policy offered in the education loan scheme. As per this policy you need to pay a minimal amount as insurance amount for your education loan. Then your entire education loan scheme will be insured. This means if anything happens to you during the course like accidents/death, the bank will not come back to your family for loan repayment. Instead it will go to the insurance company who will repay the loan. If there is no such incident then you need to repay the loan and the insurance will be null and void. It is only in the case of unforeseen incidents that this policy will be helpful to your family.