sachin_h_gandhi
Junior Member
Hi. I stay in City = Mumbai, State = Maharashtra, Country = India.
My dad had taken a Personel Loan from Citifinancial
In April 2005 of Rs. 50000/-. My dad received Rs. 47000/- Appro. Citifinancial had deducted 3000 as Premium for Credit Life Insurance. My dad paid four EMI (April,May,June,July.) for the above loan.
Unfortunately my dad expired on 1 Aug 2005 due to heart attack. We informed Citifinancial about it. We submitted all necessary documents like death certificate from the hospital,Death Certificate from the government,Discharge Card,Photo Identity,Birth Proof etc.
They accepted the document and told us they your loan a/c is closed. We told them to give us in writing, they told that they don't have the authority to do so, but your Loan A/c is closed and u will not receive any calls from Citifinancial.
After 2 to 3 weeks we received an call from Citifinancial excutive, he had came all the way from Delhi (Main Branch in India). He told us that your father has paid 4 EMI. To close the Loan A/c u need to pay 2 More EMI. Remaining Amount will be collect from Insurance Company (Tata AIG) and Then u will receive N.O.C. from Citifinancial and they will return all the Post Dated Cheques.
I like to know Terms And Conditions of Credit Life Insurance.
1) Is it necessary to pay 6 EMI after that you r covered by Insurance.
2) What worst can happen if i don't pay the 2 More EMI.
Please help me out. I don't no what to do. We r already in big financial Crunch. So Please tell me what should i do.
My dad had taken a Personel Loan from Citifinancial
In April 2005 of Rs. 50000/-. My dad received Rs. 47000/- Appro. Citifinancial had deducted 3000 as Premium for Credit Life Insurance. My dad paid four EMI (April,May,June,July.) for the above loan.
Unfortunately my dad expired on 1 Aug 2005 due to heart attack. We informed Citifinancial about it. We submitted all necessary documents like death certificate from the hospital,Death Certificate from the government,Discharge Card,Photo Identity,Birth Proof etc.
They accepted the document and told us they your loan a/c is closed. We told them to give us in writing, they told that they don't have the authority to do so, but your Loan A/c is closed and u will not receive any calls from Citifinancial.
After 2 to 3 weeks we received an call from Citifinancial excutive, he had came all the way from Delhi (Main Branch in India). He told us that your father has paid 4 EMI. To close the Loan A/c u need to pay 2 More EMI. Remaining Amount will be collect from Insurance Company (Tata AIG) and Then u will receive N.O.C. from Citifinancial and they will return all the Post Dated Cheques.
I like to know Terms And Conditions of Credit Life Insurance.
1) Is it necessary to pay 6 EMI after that you r covered by Insurance.
2) What worst can happen if i don't pay the 2 More EMI.
Please help me out. I don't no what to do. We r already in big financial Crunch. So Please tell me what should i do.