Which documents verify the loan insurance premium for my father's loans?
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What documents should I review to determine if an insurance premium was applied to my late father's loans? Should I look at loan agreements, bank statements, or separate insurance papers? Additionally, can bank statements provide this information, or do I need separate insurance documents?
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Check your loan agreement first, as banks in India typically include insurance details there. However, what really matters is finding the individual insurance certificates or policy documents. Although your bank statements may indicate a deduction, it’s the official documents that reveal the complete story, including the insurer's name, the premium amount, and the specific coverage details.
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Thanks for the detailed explanation. But, if the policy documents are missing, doesn't the lack of official insurer details and coverage in the statement make proving the policy's existence virtually impossible?