New Delhi, March 18 -- -Name withheld on request

At 34, taking on a long-tenure home loan is a big milestone, and it is encouraging to see borrowers thinking beyond just EMIs and focusing on risk protection as well.

To address your questions one by one, let me start with how home loan insurance actually works. Home loan insurance is structurally similar to a term life insurance policy. In the unfortunate event of the borrower's death during the policy tenure, the sum assured is paid to the nominee or lender and can be used to repay the outstanding home loan. The primary objective is to ensure that the family does not inherit a large liability during a time of emotional and financial stress, and that the home remains secure for them.

On...