SBI distributes claim under Loan Security Policy

Source: The Hitavada      Date: 28 Sep 2017 10:21:53


Staff Reporter,


State Bank of India while providing financial cover to its policy holders settled a claim at the tune to Rs 58 lakh under Rinn Raksha Policy. This policy cover is given under SBI Home Loan.

Deputy General Manager SBI, Braham Singh gave claim cheque of Rs 32, 76,452 lakh to Poonam Dang wife of late Ashok Dang after adjusting remaining amount of Rs 25, 27,954 lakh under SBI Home Loan.

It may be mention that late Ashok Kumar Dang in 2016 purchased the policy with loan of Rs 60 lakh as cover under Rinn Raksha Policy and deposited first premium of Rs 47471.
On 14 July 2017, he died but while alive Ashok Dang made use of Rs 25 lakh against the approved loan of Rs 60 lakh.
State Bank of India is providing this facility to its home loan customers under SBI Life ‘Rinn Raksha Policy’.