New Delhi, June 14 -- Home loan insurance is seeing rapid adoption, with policy uptake surging nearly sevenfold in the past five months, a Policy Bazaar report says. The sharp rise indicates growing awareness among borrowers about protecting their families from outstanding loan liabilities, especially as home loan amounts and repayment tenures continue to increase. Here's look at the key findings:

Policybazaar data indicates that home loan insurance adoption is being driven primarily by borrowers settled in their careers looking to purchase a house to fulfil their aspirations.

Customers aged 31-45 years account for nearly 70% of purchases, those aged 31-35 contribute ~22%, 36-40 26% and 41-45 around 23%.

The data further shows that nea...