They will say that the home loan insurance is compulsory and will create a topup loan account for the insurance.
The home loan insurance is of 10 years and they will keep the top up loan tenure at 20 years.
Also you will never get the policy document or any free lock up period information. Only after asking via email they will send you the documents.
Once you do balance transfer to other bank as this is NBFC and interest rates are normally high for NBFC, they will not give you surrender value for this home loan insurance(so called Bajaj Sureksha)
On the policy documents its clearly mentioned the surrender value formula.