0 Benefits of Insurance Financing

What are the benefits of insurance financing ? ... Employees with tenure of 5 years are able to apply on bank financing to purchase a home or vehicle. Future installments for the purchase of vehicles between 3-5 years and for home purchases between 5-15 years. Remaining Payments on bank  will decrease according installments already paid. If employees do not have insurance financing and died before financing is paid off, the remaining funding be borne heirs left behind, if the heirs can not pay the bank will foreclose and sell the vehicle or home mortgage.

Therefore, it is necessary financing insurance program for employees who filed financing. Financing insurance benefits is to provide a death benefit for the rest of the bank's liability and compensation directly handed over to the bank. So the heirs inherit the house in a state vehicle or paid off.