Checklist of Documents Required for Insurance Policy
Loan Insurance: Securing Your Future and Safeguarding Your Loved Ones
What is Loan Insurance?
Loan insurance is a protective financial cover that ensures your loan obligations are met in the event of unforeseen circumstances such as job loss, disability (temporary or permanent), or untimely death. It prevents loan defaults and shields your family from the burden of repayment during difficult times.
TFL Loan Insurance Offering
TFL offers loans with an optional loan protection insurance. Borrowers have the flexibility to either opt in or decline this coverage based on their individual needs and preferences.
Key Benefits of Loan Protection Insurance
Coverage for Life’s Uncertainties
Protects against job loss, accidental death, and disability by covering EMIs or reducing the outstanding loan amount.
Financial Security for Your Family
Ensures that your family is not held financially liable for repaying the loan in case of unfortunate events.
Tax Advantages
Certain loan insurance policies qualify for tax deductions under Section 80C of the Income Tax Act.
Money-Back Options
Select plans offer a return of premium or lump sum payout at the end of the policy term, combining protection with savings.
NOC from Society/Builder A detailed estimate of the cost of construction of the house Registered Sale Deed, Allotment Letter, or Stamped Agreement of Sale with the Builder (original document) Occupancy Certificate (in case of ready-to-move-in properties) Property Tax Receipts, Maintenance Bills, and Electricity Bills Receipts of the advance payments made towards the purchase of flat (original document) An approved copy of the building plan (key plan/floor plan in case of purchase of flats) Original of the land tax paid receipt and possession certificate as issued by the revenue authority Payment receipt or bank account statements showing payments made to the Builder or Seller For Terms and Conditions, please contact the D.M.A. TFL
Aadhaar Card PAN Card Passport Birth Certificate 10th Class Mark sheet Bank Passbook Driving License
Bank Passbook Voter’s ID Ration Card Passport Utility bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill LIC Policy Receipt
Income Documents For Salaried Individuals: Form 16 Certified letter from Employer Payslip of last 2 months Increment or Promotion letter IT returns of past 3 years Apart from the proof of income of the salaried individual, he would also have to furnish any investment proofs (like fixed deposits, shares, etc) and his passport-size photographs. Self Employed: Income Tax Returns (ITR) of last 3 years Balance Sheet and Profit & Loss Account Statement of the Company/Firm (duly attested by a C.A.) Business License Details (or any other equivalent document) The license of Professional Practice (For Doctors, Consultants, etc.) Registration Certified of Establishment (For Shops, Factories & Other Establishments) Proof of Business Address
