Property Insurance tie up
GRUH has tied up with Oriental Insurance Company Ltd. for covering the property financed by GRUH. Under this tie up, customers can make payment of their property insurance premium through GRUH.
For the convenience and benefit of customers, GRUH has negotiated a special rate for its customers for the standard fire policy with earthquake cover.
Under the policy accidental death benefit for the entire tenure of the loan for an amount of 100000/- as well as cover for household equipment upto rs. 50000/- is also covered.
Customer has to make a one time premium payment in case of residential property for a long term cover while for non residential property premium has to be paid annually.
Life Insurance tie up
GRUH has made a tie up with Bharti AXA Life Insurance Company Ltd (BAL) and HDFC Standard Life Insurance Company Ltd to provide for life insurance cover for its customers. GRUH has taken a group life cover from these companies wherein the loan customers who opt for the insurance cover are the beneficiaries. The responsibility of acceptance of proposals and underwriting lie with the Insurance Companies.