Education and Career Forum

I came to know that Indian Bank provide life insurance coverage for students desired to study with its Education Loan. Is it true? If yes then please provide me the details.

Yes, the Indian Bank offer Life Insurance coverage under its Education loan scheme. The life insurance coverage is available only to the student borrowers who take the education loan under New IB Jeevan Vidya Insurance Scheme. To be eligible for an Education loan in Indian Bank, you should have secured admission in higher studies in a recognised institution.

Yes, the Indian Bank offer Life Insurance coverage under Education loan scheme. To be eligible to apply for an Education loan, you should have secured admission for pursuing higher studies in a Government recognised Institution.

The Life Insurance coverage is available to the student borrowers who apply under New IB Jeevan Vidya Insurance Scheme.

Yes, life insurance coverage provision is present in the education loan scheme of Indian Bank. However, the premiums of life insurance will be included in the loan amount. The life insurance can be opted for the student as well as for the co-borrower. If you want you can also pay the premiums separately and not include in the education loan. The bank will give you this option when the loan is sanctioned and you will need to choose one option among the two. If the loan amount is less and for short duration, then you can also opt to not take any life insurance coverage.