INDIAN OVERSEAS BANK-LIABILITY INSURANCE

IOB OFFERS 'LIABILITY INSURANCE' COVER, AS A VALUE ADDITION ON HOME LOANS AND OTHER RETAIL LOANS AS WELL. THE EFFORT IS AIMED AT INSULATING THE DEPENDENTS FROM ANY UNEXPECTED CONTINGENCY. THE BORROWER HAS THE FLEXIBILITY OF OPTING TO LOAD THE PREMIUM ON TO THE LOAN AMOUNT, WHICH IS RECOVERED BY THE BANK OVER THE LOAN DURATION AS PART OF EMI OR PAY IT SEPARATELY. TAX BENEFIT CAN ALSO BE AVAILED ON PREMIUM PAID.