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: Visit our official website On the home page, click/tap on the Insurance section Choose the Insurance type which you want to avail Click/Tap on Buy Now 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.
While we plan something in our life, surprising activities might disrupt its stability. In such conditions, debt can become a burden, mainly if the loans are of huge amounts. This is in which Loan Protection Insurance steps in as a protection tool, providing whole peace of thoughts by safeguarding your budget to some point during such tough instances. Today, in this article, we'll apprehend how this facility works, its top benefits, and why you have to go with Stashfin for such a facility. What is loan protection insurance? What are its top benefits? As the term suggests, it is basically an insurance plan that covers loan repayments during emergencies. For example, if you die, become disabled, or lose your job involuntarily, it ensures that payments are made for a set time period. This protects your credit score ultimately, eases the burden for your own family, and allows you to be cognizant of restoration. Even though it's far obtrusive that there may be a value concerned, the peace of mind and monetary protection LPI gives may be invaluable. Peace of Mind Knowing that your debt obligations will be met even if you encounter financial difficulties offers a sense of relief and peace of mind. This allows you to focus on recovery or job hunting without the added stress of worrying about loan repayment. Family Protection In the unforeseen event of death or critical illness, loan protection ensures that your family is not left with the burden of your debts. This can be particularly important if you have dependents who rely on your monthly income. Credit Score Protection If, by any chance, there is a default on loan repayment, it impacts the credit score of the borrower in a very negative way. This makes it hard for them to secure credit in the future. Therefore, this type of insurance ensures that the borrowers maintain a good credit history even during difficult times. Financial Security One of the significant advantages of a loan protection plan is the financial security it provides. In tough times, when borrowers might be unable to meet their loan obligations due to health issues or job loss, insurance coverage prevents defaults and potential legal complications. Why Stashfin? As one of the leading personal loan and insurance platforms, we offer various types of insurance with a single tap on your smartphone. Visit our official website On the home page, tap on the insurance section in the header Go to loan protection Out of the four options, choose Loan protection Buy now! The premium amount here is only Rs 999/-, which is to be paid for 12 months. It offers coverage of up to Rs 2,60,000/-. What's Covered Complete protection of your outstanding Loan: Up to 1,00,000 mWallet + UPI Fraud Protection: Up to Rs. 50,000 Protection in case of offline, online, and digital fraud Emergency Cash Advance: Hotel bill settlement in India and abroad up to the limit specified (India and Broad) Emergency Services: Return transportation to the base location (India and Broad) Convenience: Hassle-free replacement of PAN 24X7 Assistance: Always there to help you What's Not Covered Charges which are not being reimbursed by Banks or Financial institutions Forgery: loss incurring directly or indirectly from an act of forgery Intoxication: loss incurred while under the influence Please refer product T&C for a complete list of exclusions Final thoughts Securing the best loan protection insurance is a proactive step towards financial stability and peace of mind. Keep in mind that the right insurance policy not only safeguards your financial health but also provides a safety net that allows you to navigate ups and downs with confidence.