All You Need To Know About COVID-19 Insurance Policy

All You Need To Know About COVID-19 Insurance

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COVID-19 Insurance

We want our business partners to know that they’re not alone during such a crisis. HomeFirst recognizes their invaluable efforts and we cherish the relationship that we share. They’re the Jai to our Veeru, Dr. Watson to our Sherlock, and Amit to our Narendra. Since we understand how the pandemic might be affecting them and their families, we want to make sure that they don’t undergo a situation where their lives are severely impacted. To enable them to keep working on their priorities, Home First Finance Company has decided to offer a special health benefit to its Key Contributors, covering over 500 valued business partners.

HomeFirst has tied up with ICICI Lombard and is offering a complimentary insurance cover for Covid-19 disease. The total sum insured is Rs.1,00,000 which includes hospitalization and home quarantine. While we’d hate it if our partners have to use this, but we’d hate it even more if they do not have any support from us from when they need it the most. The benefits under this scheme cover pre-hospitalization, emergency ambulance, and post-hospitalization as well. For more details, our Relationship Managers would be glad to answer any queries. To claim these benefits in case of contracting the disease, the individual insured needs to call the toll-free number 18002666. Then state the policy number, member ID, first name, and last name.

The intended business partners have been covered automatically under this policy without a need for prior registration and we have already started rolling out the welcome letters! It’s a small way of thanking our partners and letting them know that we got their back.

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Your home loan will be processed in 2 steps:

  1. You receive the approval of your home loan.
  2. You sign the loan agreement papers and complete other necessary documentation. The loan amount is thereafter paid directly to the builder by Home First Finance Company.

Loan decisions are made in less than a week. You will receive an SMS on your registered mobile number as soon as we make a decision.

HomeFirst does not charge any prepayment fees. This applies to both partial and full repayments. In fact, we have a special Auto-Prepay feature to facilitate this process for you.

HomeFirst offers loan tenures between 1 year to 25 years. If you opt for a longer tenure, you can get the advantage of a lower EMI each month.

HomeFirst can provide finance up to 90% of the property value. The balance has to be arranged by you from other sources. Please note: 90% financing is only available for loans amounting to less than Rs. 30 lakhs.

All co-owners of the property have to be co-applicants to the loan. A person who is not a co-owner can also become a co-applicant to the loan.

During the construction phase, HomeFirst will disburse funds to the builder on your behalf. These will be based on payment requests made by the builder as per the construction schedule.

HomeFirst will charge interest only on the amount disbursed as loan during the construction phase. In this period, interest is charged only on the disbursed loan amount. For example, if you have a sanctioned loan of Rs 10 lakhs, but the property is under construction and we have disbursed only Rs 4 lakhs, you will be charged interest only on 4 lakhs. These interest payments are referred to as pre-EMI interest payments.

EMI payments will start only after completion of the project and registration of the property.

All cheques to HomeFirst should be written out in favor of ‘Home First Finance Company India Limited’.

In the event of an unfortunate incident, home loan insurance will help you or your family pay off the home loan. This ensures that the burden does not suddenly fall upon family members at a bad time.

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