The conversation between human and AI assistant.
If I take an education loan from "Union Bank", Is it necessary to enroll into their life insurance scheme, as proposed by them and pay a 1 time fee?
Can you give me more information about the life insurance scheme that Union Bank is offering?
Sure. The life insurance scheme offered by Union Bank is designed to provide financial protection to the borrower's family in case of the borrower's untimely demise during the loan repayment period. The one-time fee paid towards the insurance will provide coverage for the entire loan tenure.