Hi, I bought a under construction property recently and got my Lon approved from RHB bank. When I read the terms & conditions from the bank letter offer today, I found out there is a term stated fire insurance is compulsory. The banker didnt mention anything about this during signing the LO. May I know when should I start paying this and for a 400k loan, under construction and will be completed around 2017. how much will be the amount? It is payable to bank or? Do I need to pay on monthly basis or yearly. Thanks you.

Thank for the clear explanation