Mumbai: Tata Home Finance, in partnership with Tat AIG Life Insurance, has launched a mortgage reducing term-insurance programme, a group insurance policy.

The programme is a voluntary insurance plan offered to Tata Home Finances home loan customers and insures their homes by settling the mortgage outstanding in the event of a loss of life, according to a company release.

The programme also offers an optional cover for total and permanent disability. The benefits of the plan will be arranged through the policy purchased from Tata AIG, the release said.