A home loan protection insurance policy helped an Asansol family significantly reduce its outstanding housing loan liability following the death of the borrower, underscoring the role of credit life insurance in financial planning.
Kesab Mukherjee, a resident of Jamuria in West Bengal’s Asansol region, had availed a home loan from Bank of India’s Asansol branch and opted for Star Union Dai-ichi Life Insurance’s (SUD Life) New Sampoorna Loan Suraksha policy. Following his death due to natural causes on January 25, 2026, the insurer processed and settled an eligible claim of ₹16.14 lakh within 10 days of claim intimation.
According to the insurer, the claim amount was used to reduce the outstanding home loan liability of around ₹20.82 lakh. The cheque was handed over to Sibam Mukherjee, son of the policyholder, on behalf of nominee Sabita Mukherjee at the Bank of India branch in Asansol.
Commenting on the settlement, AbhayTewari, Managing Director and Chief Executive Officer of SUD Life, said home loan protection plans can help families manage financial obligations during unforeseen circumstances and reduce the burden of outstanding debt.
Asansol, one of West Bengal’s key industrial and urban centres, has witnessed growing demand for housing finance and retail banking products in recent years. Industry observers say increasing home ownership aspirations have also heightened awareness about financial protection products such as credit life insurance, which can safeguard families from repayment risks linked to long-term loans.
SUD Life said it achieved an individual claim settlement ratio of 99.01 per cent in FY 2025-26, with 68 per cent of intimated claims being settled within 48 hours. The insurer currently serves over 15.2 million customers and manages assets worth ₹37,575 crore as of March 31, 2026.
