----- Forwarded Message -----
From: rajesh agarwal <rajeshaga@rediffmail.com>
To: "ICAI_CIRC_MEERUT_CA@yahoogroups.com" <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Sent: Monday, 22 October 2012 2:38 AM
Subject: Re: {Amresh's CA's} Help under MRTP Act. against SBI
From: rajesh agarwal <rajeshaga@rediffmail.com>
To: "ICAI_CIRC_MEERUT_CA@yahoogroups.com" <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Sent: Monday, 22 October 2012 2:38 AM
Subject: Re: {Amresh's CA's} Help under MRTP Act. against SBI
THE PREMIUM COLLECTED MAINLY BY SBI AT ONE GO FOR ALL THE YEARS (LOAN REPAYMENT PERIOD) IS VERY HIGH, THEY EVEN PREFER NOT GIVING DETAILS HOW THE PREMIUMS ARE CALCULATED.I ONCE HAD ENCOUNTERED SBI ITSELF,AND ASKED HIM THE LOAN AMOUNT GETS REDUCED YEAR AFTER YEAR,SO YOUR RISK COVERAGE GOES DOWN BUT THE PREMIUM REMAINS THE SAME,HOW? THERE WAS NO RESPONCE BUT SIMPLY SIAD THAT,THE PREMIUM MUST HAVE ALREADY BEEN CALCULATED TAKING THIS FACTOR INTO CONSIDERATION.I HAVE ALSO SEEN IN ONE CASE,WHERE AFTER THE SUDDEN DEMISE THE SBI LIFE DELAYED BY ALMOST ONE YEAR TO SETTLE THE CLAIM AND SBI BANK FORCED THE LEGAL HEIRS TO PAY THE INTEREST FOR THAT ONE YEAR. BEFOR ANY ONE REPLIES,LET ME TELL U THERE WAS NO DISPUTE IN THE CLAIM MADE,IT WAS SIMPLY DELAYED FOR THE REASONES BEST KNOWN TO THEM.
HOWEVER I THINK THOUGH THE BANK INSISTES ON TAKING THE POLICY BUT U HAVE THE OPTION TO GO TO ANY INSURANCE COMPANY AND GET THE COVERAGE.
IN MY OPINION MRTP WILL BE APPLICABLE ONLY IF THE BANK SAYS U HAVE TO INSURE THRU SBI LIFE ONLY,AND THIS IS NOT THE CASE.
From: ashish gupta <ashishbtp@yahoo.co.in>
Sent: Mon, 22 Oct 2012 07:15:14
To: ICAI_CIRC_MEERUT_CA@yahoogroups.com
Subject: Re: {Amresh's CA's} Help under MRTP Act. against SBI
From: ashish gupta <ashishbtp@yahoo.co.in>
Sent: Mon, 22 Oct 2012 07:15:14
To: ICAI_CIRC_MEERUT_CA@yahoogroups.com
Subject: Re: {Amresh's CA's} Help under MRTP Act. against SBI
| Ok, I agree from your view but who much cost bear a borrower, In this case Life Insurance claim pay by the insurance company only in case case of death and bank already provide accidental insurance free of cost, A person age 30 year chance of death most probability accident which was already insured in other way if borrower suffering serious illness their s no coverage in that type of insurance policy and secondly he lost his regular earning their is no insurance coverage also in that policies to repay the house Loan, So as per your concern Bank Take such type of all polices to secure repayment even borrower not in position to suffer that much cost. In this situation Bank is most harmful in compare to private financiers. Second thing bank finance premium that type policy under housing loan and total house loan amount increase and at the year end certificate issued for taken income tax benefit on House Loan Interest and Principal Repayment, not segregate Interest on Loan on Insurance Policy and their repayment. In this situation bank has issued a wrong interest certificate to borrower for taking undue advantage from income tax. Please give your opinion. Regards Ashish Gupta --- On Sun, 21/10/12, Dipak Shah <djshah1944@yahoo.com> wrote:
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