Insurance of the Property/Borrowers. The Property that is being financed will remain insured for the entire Tenor of the Loan at the Borrower’s expense, and shall be assigned in the favour of the Company, as detailed below:
Insurance of the Property/Borrowers. The Borrower shall, for so long as any portion of his dues is outstanding/payable to the Lender, fully insure and keep the Property that is being financed insured at his/ her/ its/ their own costs with the name of the Lender recorded as ‘the Beneficiary’ and such insurance for the Property shall be standard comprehensive package policies covering all comprehensive risks, including but not limited to fire, earthquake, riot, civil commotion, floods and such additional risks/ liability to which the property is normally exposed. In the event of any failure by the Borrower to obtain such insurance policy and/ or to furnish proof of the same to the Lender, the Lender may (but shall not be bound to) insure the property at the Borrower’s cost. If the Lender pays the insurance premium, or any other monies, for/ towards the insurance of the property, the Borrower shall reimburse all such sums paid by the Lender. The terms & conditions including claims & coverage will be governed by the issuer of such insurance policy. Please note that the role of the Lender under the insurance policy would be that of a facilitator and the decision to cover and settle any future claim under the policy would solely rest with the insurance company. Insurance is the subject matter of solicitation.
Insurance of the Property/Borrowers. The Borrower/s shall at all such times till the entire Loan granted by FIHFC has been repaid in full to the complete satisfaction of FIHFC, keep the property insured with comprehensive and composite Insurance policy for such sum assured equivalent to the loan outstanding at any point of time. In such policy, FIHFC shall be the sole beneficiary, during the continuity of the loan facility. The Borrower/s would also send a copy of the Insurance cover and the policy within 15 days of each renewal/fresh policy.
Insurance of the Property/Borrowers. As per Loan Sanction Letter and Loan Agreement
Insurance of the Property/Borrowers. The Borrower shall, for so long as any portion of his dues is outstanding/payable to the Company, fully insure and keep the Property that is being financed insured at his/ her/ its/ their own costs with the name of the Company recorded as ‘the Beneficiary’ and such insurance for the Property shall be standard comprehensive package policies covering all comprehensive risks, including but not limited to fire, earthquake, riot, civil commotion, floods and such additional risks/ liability to which the property is normally exposed. In the event of any failure by the Borrower to obtain such insurance policy and/ or to furnish proof of the same to the Company, the Company may (but shall not be bound to) insure the property at the Borrower’s cost. If the Company pays the insurance premium, or any other monies, for/ towards the insurance of the property, the Borrower shall reimburse all such sums paid by the Company. Borrower to provide Fire and Earthquake Insurance for the property within 30 Days from the disbursement with sole loss payee name of Fasttrack Housing Finance Limited. Non compliance will attract penalty of Rs.500.00 per month Security should be fully insured for all risks and charge of Company shall be noted on the policy at your cost. Appropriate security acceptable to Company shall be created for disbursement. The terms & conditions including claims & coverage will be governed by the issuer of such insurance policy. Please note that the role of the Company under the insurance policy would be that of a facilitator and the decision to cover and settle any future claim under the policy would solely rest with the insurance company. Insurance is the subject matter of solicitation
Insurance of the Property/Borrowers. The borrower has been advice to take property insurance and submit the receipts and if insurance is not take that will cost risk of the borrower.
Insurance of the Property/Borrowers i. The Borrower shall keep all properties under security insured with comprehensive insurance policy which is at least equivalent to the loan outstanding at any point of time during the pendency of the loan and NHFL will be the sole beneficiary under said policy/ policies till the outstanding under the loan facility is fully repaid/closed.
ii. The borrower will also be covered under Personal Accident Insurance against death due to accident or loss of limbs etc during the Loan tenor period.** **Cost of Insurance premium for both i & ii above will be met by Borrower
Insurance of the Property/Borrowers. The Company may at its own discretion direct the borrower (Applicant) to obtain a comprehensive and composite insurance policy in respect of the property and/or any other insurance policy that may be required by Company in exercise of its sole and absolute discretion at his/her/their own cost and expenses. The insurance value over the property should be offer value higher or equivalent to the loan amount or the value of the structure of the property whichever is higher. The Borrower shall get lien of COMPANY loss payee, noted on the insurance policy confirming that COMPANY has the first claim on the proceeds of the policy amount and the borrower shall furnish such insurance cover or policy to COMPANY.
Insurance of the Property/Borrowers. The Borrower shall insure and keep insured the Property against fire and other customary risks and hazards, for a value as may be required by the Nido, with an insurance company. Nido shall be made the sole beneficiary under the insurance policy. Property insurance : Borrowers Insurance:
Insurance of the Property/Borrowers. Life Insurance b. GIC Property in question will be brought under the GIC Insurance on the current market value. Yearly premium to b e borne by the borrower and to be realized by debit to his/her loan account.
