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HOME ASSURE,WORST product IN THE MARKET
Aug 10, 2007 01:02 AM 4634 Views

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I took homeloans from ICICI and one of the executive sold me the Home Assure policy from ICICI prudential . I was very happy about the insurance till I got the policy document. firstly


1) there was a health policy attached to HOME ASSURE, which I was never informed about , and I was shocked the for health assure I have to pay premium every year. the executive never told me about this.


2) I was never told that HOME ASSURE only covers principal outstandings even though it charges premium for the total loan amount ( I took 35 lac loan , my premium is 93 k, but I know for sure I will part pay my loan by 20-25 lac in another 2-2.5 yrs. so its a total loss for me)


3) now the BIGGEST SHOCK of my life was when I went through the loan sanction letter , where in the last paragraph it is clearly written that a accidental insurance policy given free of cost along with ICICI Homeloans. So what I exactly did was I spent 93 k for a cover which I was getting free of cost .


COZ HOME ASSURE only covers accidental death and natural death. but I know I am not the only guy who has done this . so I request all the customer who is planning to buy HOME ASSURE , kindlyread your LOAN SANCTION LETTER CAREFULLY. Buy any insurance on this earth but NOT HOME ASSURE.


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