What is insurance fee charged by banks for personal loan for ?

Name: Qatar Living Classifieds
Rating: 4.1 (228 reviews)
Author: Qatar Living

What is the role of compulsory insurance fee for personal loan charged by bank for? will this insurance allow the rest of the instalments to be waived off in case of firing by the employer and non renewal of contract or some other person (wife for example ) if she is on another visa has to pay the remaining loan before the person is allowed to leave the country. What if the visa of all family is cancelled because of non renewal of husbands contract? please answer ?

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By han19• 14 Jan 2012 12:44

Rating: 4/5

Loans are meant to Be paid back, irrespective of whether you have a job or not. No installments will be waived off, except in the sad event of death.

By anonymous• 14 Jan 2012 12:18

Rating: 4/5

It covers nothing but only incase of death of the insurer. In all other cases, bank will not leave you until your home.

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What is insurance fee charged by banks for personal loan for ?

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