Total amount of individual loan-linked insurances is 20 million!
Did you know that banks offered insurance coverage for the loans extended to their customers and provided assurance both for their legal identity and their customers?
Based on the recent statistics related to insurance policies linked to consumer loans in 2013, the total amount of such loans increased by 10% compared to last year. The total number of insurance policies which was 18 million in 2012, increased to around 20 million in 2013. The distribution of insurance policies linked to consumer loans into different categories is as follows: life insurance 82%, housing insurance 8%, individual accident insurance 6% and comprehensive coverage 4%. Insurance policies linked to consumer loans have the benefit of indemnifying the heirs of the beneficiary losing his or her life and indemnifying the beneficiary him or herself for the loan in case of disability. In this regard looking at the distribution of different categories of insurance policies linked to consumer loans in 2013, it is seen that 4/5 of the total amount of policies come from the life insurance category
Distribution of IPLCL in 2013 based on insurance
*IPLCL: Insurance policies linked to consumer loans
Distribution of IPLCL in 2011 - 2012 - 2013
Distribution of IPLCL in 2011 - 2012 - 2013 Based on
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