Loan Protection Insurance Plan Including Critical Illness Rider

In the current times, managing financial risk is of utmost importance as we all have witnessed the Covid-19 phase in our lives. This pandemic has guided each and every individual that life is unpredictable. However, two essential insurance products designed to ease down such risks are loan protection policy and critical illness insurance

At Stashfin, you can avail of both of them with just a single tap. Today, in this article, let’s dive deep into these policies and understand their perks. 

Loan protection insurance

It is largely an insurance plan that tends to cover mortgage repayments during emergency conditions. For example, in case you die, emerge as disabled, or lose your task, it guarantees that payments are made for a hard and fast duration. 

This protects your credit score, eases the load to your family, and allows you to be cognizant of restoration. Even though it’s miles evident that there may be a value, the peace of thoughts this insurance offers is quite invaluable. 

  • Peace of Mind

Knowing that your debt obligations will be met even if you encounter financial difficulties offers a sense of relief. This allows you to focus on recovery or job hunting without the added stress of unnecessary worrying about online fast loan repayment. 

  • Family Protection

In the unforeseen event of death or critical illness, loan protection plan ensures that your family is not left with any financial burden. This can be particularly important if you have dependents who rely on your monthly income. 

  • Credit Score Protection

If, by means of any risk, there’s a default on mortgage reimbursement, it affects the credit score of the borrower in a very bad manner. Therefore, this sort of coverage ensures that the debtors preserve very good credit records.

Critical Illness Insurance

It is a type of health insurance that provides a lump-sum payment if the policyholder is diagnosed with a severe illness listed in the purchased policy. This payment can be used to cover medical expenses, supplement lost income, or handle any other financial needs that arise due to the illness.

  • Financial safety

This is one of the top benefits. It is a well-known fact that when suffering due to an illness, medical bills can quickly pile up. Therefore, insurance provides a lump sum payout upon diagnosis, regardless of the actual treatment cost. 

  • Peace of Mind

This is manifestly a disturbing scenario. However, whilst you are conscious that you have monetary protection due to the critical illness insurance policy, it considerably reduces your stress and anxiety. 

  • Tax Benefits

In our country, premiums paid toward crucial infection insurance are tax-deductible. This falls under the Section 80D of the Income Tax Act.

Why Stashfin?

We at Stashfin have one goal in mind: to offer the utmost ease and accessibility to all our potential customers. Our application is available on both the Play Store and the App Store, and we are also one of the leading personal loan providers. However, here is a step-by-step guide on how to avail these insurances from us:

  1. Visit our official website 
  2. On the home page, click/tap on the Insurance section
  3. Choose the Insurance type which you want to avail
  4. Click/Tap on Buy Now
  5. You are good to go!

So, if you want to avail the best critical illness insurance policy or loan protection insurance, then visit our website today! 

Final thoughts

All in all, both these policies offer unmatched valuable protection but cater to different needs for obvious reasons. LPI safeguards your instant loan in case of unforeseen events, while the other policy i.e. the critical illness policy provides a financial buffer during a critical illness. 


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