INSURANCE OF THE PROPERTY. BORROWER(S) • It will be the Borrower’s responsibility to ensure that the Property offered as security, if any, is duly insured for an amount equivalent or above the loan value from and against all risks, with BHFL as sole beneficiary during the tenure of the loan. The evidence thereof shall be given to BHFL whenever required for by BHFL. • The claims & coverage will be governed in accordance with the terms & conditions of the insurance policy issued by the insurance company. • BHFL offers enrolment, only to its customers, under various Group insurance policies in the capacity of a Master Policy Holder. The role of BHFL is limited to the effect that it only facilitates at the request of the customer to apply for an insurance policy from the insurance company. However, the decision to issue an insurance policy, provide requisite insurance coverage and settle any future claim under the policy would solely rest with the insurance company only. Insurance is the subject matter of solicitation, and the Borrower has considered availing the same voluntarily. BHFL holds no warranty and does not make any representation about the insurance product, the underlying terms and conditions and/or benefits of the insurance product, the manner of processing the claims by the insurance company. Further, BHFL shall not be responsible for acceptance or rejection of the request for insurance policy and/or claims, the manner of processing of claims etc., in any manner whatsoever. All or any grievances in reference to the insurance policy will have to be directly taken up with the insurance company only.
INSURANCE OF THE PROPERTY. BORROWER(S) • It will be the Borrower’s responsibility to ensure that the Property offered as security is duly insured for an amount equivalent or above the loan value from and against all risks, with BHFL as sole beneficiary during the tenure of the loan or till such time that Completion Certificate/ Occupancy Certificate is received for the entire property mortgaged, whichever is earlier. The evidence thereof shall be given to BHFL whenever required for by BHFL. • The claims & coverage will be governed in accordance with the terms & conditions of the insurance policy issued by the insurance company. • BHFL offers enrolment, only to its customers, under various Group insurance policies in the capacity of a Master Policy Holder. The role of BHFL is limited to the effect that it only facilitates at the request of the customer to apply for an insurance policy from the insurance company. However, the decision to issue an insurance policy, provide requisite insurance coverage and settle any future claim under the policy would solely rest with the insurance company only. Insurance is the subject matter of solicitation, and the Borrower has considered availing the same voluntarily. BHFL holds no warranty and does not make any representation about the insurance product, the underlying terms and conditions and/or benefits of the insurance product, the manner of processing the claims by the insurance company. Further, BHFL shall not be responsible for acceptance or rejection of the request for insurance policy and/or claims, the manner of processing of claims etc., in any manner whatsoever. All or any grievances in reference to the insurance policy will have to be directly taken up with the insurance company only.
INSURANCE OF THE PROPERTY. 6.1 The Lessee is obliged to conclude, with an insurer acceptable to the Lessor and on the terms and conditions specified in the Agreement (including the Special Conditions), a property insurance contract on the Property, as well as a motor third party liability insurance contract, where the Property is subject to registration in the traffic register. The insurance contracts shall be concluded immediately, but not later than on the day of transfer of possession of the Property to the Lessee. It shall be forbidden for the Lessee to use the Property (including to enter into traffic) before the insurance contract(s) and the insurance cover take effect.
INSURANCE OF THE PROPERTY. Borrowers: The Property that is being financed will remain insured for the entire Tenor of the Loan at the Borrower’s expense, and shall be assigned in the favour of the Company, as detailed below: Property Insurance Tenure Name of insurance company Address insured of the property Purpose and features of insurance (For the property being mortgaged) The Borrower shall, for so long as any portion of his dues is outstanding/payable to the Lender, fully insure and keep the Property so insured, at his/ her/ its/ their own costs in the joint names of the Borrowers and the Lender, with the name of the Lender recorded as ‘the Beneficiary’ and such insurance for the Property shall be standard comprehensive package policies covering all comprehensive risks, including but not limited to earthquake, riot, civil commotion, floods and such additional risks/ liability to which the property is normally exposed. In the event of any failure by the Borrower to obtain such insurance policy and/ or to furnish proof of the same to the Lender, the Lender may (but shall not be bound to) insure the property at the Borrower’s cost. If the Lender pays the insurance premium, or any other monies, for/ towards the insurance of the property, the Borrower shall reimburse all such sums paid by the Lender. Sum insured Rs. Credit Shield Critical Illness Name of insurance company ICICI Prudential Life Insurance Company Ltd. Name and address of the persons Insured Purpose and features of insurance (Applies to Life Insurance of the borrower(s) on outstanding loan amount) The Borrower who has opted for policy may have to undergo a medical test to be organized and facilitated by the insurance provider as applicable. Moreover, The decision on Insurance underwriting in all cases rests exclusively with the insurance provider. Any claim thereof will be at the behest of the Borrower and the insurance provider. Sum insured for Credit Shield Rs Tenure for Credit Shield (Yrs) Sum insured for Critical Illness Tenure for Critical Illness (Yrs) Health Insurance Hospi Cash Name of insurance company Name and address of persons Insured the Purpose and features insurance of The Borrower who has opted for policy may have to undergo a medical test to be organized and facilitated by the insurance provider as applicable. Moreover, The decision on Insurance underwriting in all cases rests exclusively with the insurance provider. Any claim thereof will be at the behest of the Borrower and the insurance provider. Sum...
INSURANCE OF THE PROPERTY. (1) The Borrower undertakes that so long as the Loan has not been repaid in full (and in relation to a housing loan, so long more than NIS 30,000 remains payable on account of the Loan), including any Future Credit as defined herein and the performance of all the Borrower's obligations pursuant to the provisions of this Agreement and/or so long as the Ancillary Payments and/or additional amounts, as defined herein, have not been paid, the Borrower and/or the Pledgor shall, at their expense, take out from a reputable Israeli Insurance Company comprehensive insurance for the Property and/or the Pledged Property and/or their rights in the Property and/or the Pledged Property, on terms and conditions acceptable to the Bank, and shall maintain the insurance of the Property and/or the Pledged Property against such reasonable risks as the Bank demands (hereinafter referred to as the "Property Insurance" or the "Property Policy"), all subject to the law and in accordance with Bank of Israel’s directives.
INSURANCE OF THE PROPERTY. The Landlord shall at all times have the sole discretion as to whether to take out and maintain additional insurance in respect of the Property at the Landlord's own cost and expense.
INSURANCE OF THE PROPERTY. BORROWER(S) It will be the Borrower(s) responsibility to ensure that the Property offered as Security is duly and properly insured against fire, flood, earthquake and other hazards for an amount specified by PNBHFL, during the period of this Loan, with PNBHFL as sole beneficiary. The evidence thereof shall be given to PNBHFL every year and/or whenever asked for by PNBHFL. Regardless of the amount being specified by PNBHFL for the said purpose, the Borrower(s) shall remain absolutely obligated to insure the property for an adequate amount. The terms & conditions including claims and coverage will be governed by the issuer of such insurance policy. Please note that the role of PNBHFL under the insurance policy would be that of a facilitator and the decision to cover and settle any future claim under the policy would solely rest with the insurance company. Insurance is the subject matter of solicitation.
INSURANCE OF THE PROPERTY. BORROWER(S)
INSURANCE OF THE PROPERTY. Borrowers MRHFL always recommends borrowers to have the following risk coverage through appropriateInsurance thorough the loan tenure. • Life insurance of the key person • Fire insurance of house property being financed o An amount not less than the cost of the property o For a minimum period equivalent to the tenure of the loan. Borrowers may arrange the Insurance on their own or request MRHFL to arrange for the Insurance at a subsidized rate for the convenience of the Borrower.
INSURANCE OF THE PROPERTY. We do not insure the Property. obliged by this Agreement to maintain the safety or security of the Property, the Unit or the Site in order to keep the Property free
