Property and life of the loanee member is insured in case of LIC loan schemes as such in case     of death ofloanee member or damage to house dur to natural calamities like flood, riot fire etc.     the amount of loan outstanding is waived off. No extra charges is taken as the premium of the     insurance coverage is covered in the interest to be charges by the organization. In other     schemes benefit under the loanee welfare account for waving off a loanee member's loan in     case of his death is given as per the scheme formulated in this regard.

Member of both urban and rural coop house building societies are exempted from the payment     of stamp duty and registration fee while mortgaging his property i.e plot oragricultural land in     favour of housefedwhile availing loaning assistance.

Repayment of loan in lumpsum or part payment is permissible without any notice etc. at any     time before the recoverable period of 15 years.