INSURANCE IS A SAFETY FOR STUDENTS WHO STUDY OVERSEAS

Every year so many students from India travel overseas for the purpose of higher education. Education is the top most priority for all parents and children these days. However, studying abroad does not come easy. Besides it being a distant affair, it also requires one to shell out a fortune. From taking care of their needs and necessities such as food, accommodation, studies, we also give utmost importance to health through the right medicines and other means of protection.

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On your child’s journey to the specific destination for study or while your child is pursuing his or her education, there are various possibilities of incidents that can occur. Such unpredictable incidents can take place in the form of personal accident, baggage loss, study interruption and others. Being miles away, it is a great reason of worry to handle such situations as it calls for your physical existence. For example- if your child’s studies are interrupted due to a specific reason, how would you be able to solve the matter while you are in another country altogether?

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Student Medical Insurance is therefore a must need for every student who travels abroad for education. A student medical insurance provides medical as well as non-medical coverage throughout the period of a student’s education. It also includes facilities of auto-renewal and extension, in which case the student does not have to struggle. There are various categories of these insurance plans provided by various banks. From basic plans to comprehensive plans, these insurance plans include sponsor protection, compassionate visit, bail bond, personal liability, and various other provisions.

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In most of the educational institutes, a student medical insurance is compulsory. Whether you are a parent or student, you must ensure that you have purchased a student medical insurance that covers your basic needs at least. It is indeed the best security one can receive, whether you study in Australia, Singapore, America, or any other place in the world.

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Why apply for a home loan?

With the rapid shoot in real estate prices, it is becoming increasingly difficult if not impossible for the average Indian to buy a house depending solely on one’s own savings. Buying a home is a huge step of one’s life and involves a lot of anxiety and tedious exploration. This is where home loan comes in as a blessing. A home loan is usually a huge liability considering the amount of money involved and the long tenure. However opting for a home loan offers substantial benefits like tax benefit on the interest paid and low interest rates since the period of repayment is very long.

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Choosing to buy a house through a home loan is very profitable as the real estate prices keep appreciating at a fast pace. Hence by delaying the purchase of a house to accumulate personal funds will not be beneficial in the long run. Applying for a loan is more worthwhile in the long run as one has to pay a low price initially. Moreover, the home loan eligibility criteria has become much more relaxed overtime. These days all banks offer home loans to practically any individual with a regular income. However the eligibility criteria might vary slightly according to the preferences of the banks.

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Home loan eligibility generally depends on the income and the amount of assets owned by an individual. The more the income of a person, he will be eligible for a greater value of loan amount. Home loans are generally available to salaried individuals, professionals (doctors, charted accountants) and also self-employed individuals filing for income tax returns. Many banks also offer online home loan eligibility calculators to determine the amount of loan one can obtain from a bank. One only has to enter certain financial parameters such as income and amount of assets owned and the loan eligibility amount will be calculated automatically. This feature is very helpful as it will suit your financial needs perfectly.

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Tips to Consider When Availing Car Loans

In recent times, owning a car has become a symbol of status as well as a basic necessity for most. A majority of the people, however, cannot afford a car with the amount of salary they earn or due to their desire to purchase a car that is well out of their budget.

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Car loans have made lives relatively easier and comfortable for everyone, making it possible for almost every person earning a stable income to buy a car.Here are a few things to keep in mind when you decide to avail a car loan:

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  1. Compare options: When you come across any car loan option, ensure that you don’t blindly choose the first one you find. Instead, compare the features, rates, and benefits of every option to find the one that would suit you best.
  2. Down payment: While the car loan will help you get the car of your dreams with little to pay every month, it would be best to calculate your Equated Monthly Instalment (EMI) using the car loan EMI calculator beforehand and making a substantial down payment to ensure that the burden of paying EMIs reduces to a great extent.
  3. Rate of Interest: Consider the rate of interest being applied by the bank on the loan. Looking for options that offer loans at the least rate of interest will allow you to save more.
  4. Consider the benefits: Before settling for a loan option, ask about all the facilities and benefits the loan would allow you to enjoy. By considering all the benefits given, you can make the right decision depending on your preference.

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By keeping these tips in mind, you can make sure to find the which car loan would be the most suitable for you.

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