I have taken the home loan from ABN in 2005 with that i also get the icici lombard home insurance (ABN tie up with ICICI lombard i guess). Year 2009 i have transferred my home loan to other bank, so i have to close my ICICI lomard insurance of previous bank. I have requested to close the same. (i have taken new from current bank). After 2 weeks i came to know i won’t receive any amount as per the policy and terms and conditions which was never written anywhere. Though my policy is going to end on on June. I haven’t claim anything within the policy period.
I guess this how insurance company works to get the money from people. Be carefully while taking any insurance from any bank.
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