Housefed advanced loan in the state of Punjab for the construction of Houses Property  and life of the loanee member is insured in case of loan schemes. In case     of death of loanee member or damage to house due to natural calamities like flood, riot fire etc. the amount of loan outstanding is waived off as per terms and conditions of the scheme. No extra charges are taken as the premium of the insurance is covered in the interest to be charged 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.