Term
Role of Term Insurance in Safeguarding Home Loans for the Self-Employed
Amit Gulati, a 36-year-old freelance graphic designer with an irregular income, took a home loan to purchase a flat for his family. With no steady salary and other EMIs running, he knew the risk of default was high. Tragically, a sudden illness took his life two years later.
Thankfully, Amit had bought a term insurance plan. The ₹75 lakh payout helped his wife clear the outstanding loan and ensured their home remained theirs, offering security in the face of loss.