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Top Reasons to Buy a Personal Accident Insurance Policy
Accidents are a part of life, but more often than not, you don’t prepare for them as well as you should. Instead of scrambling at the last moment, it is important to consider buying a personal accident insurance policy. This provides monetary cover to ensure you and your family members can take care of medical expenses during such accidents without feeling a strain on your finances. In the event of an unfortunate demise, this insurance cover secures your family's future as well.
Once you have decided to take steps to protect yourself and your family by opting for personal accident insurance cover, consider buying the Personal Accident Insurance provided by Bajaj Finserv. With it you can enjoy reimbursement of up to 40% when you make a valid claim, along with several other benefits such as a hospitalisation allowance or a 10% premium discount if your policy covers two or more members, as well as a child education bonus.
Take a closer look at why investing in a personal accident insurance is a smart move.
Protect yourself from disability
In the unfortunate situation that you meet with an accident and face total permanent disability, you can get up to 125% compensation of the sum insured when you buy personal accident insurance. This is offered to you as a substitute to your income in case your disability renders you incapable of pursuing a job. Similarly, if you’re confined to a hospital owing to an accident and this is affecting your income, you can claim Rs.1,000 per day for up to 30 days when you choose Bajaj Finserv.
Enjoy a low premium and easy claim process
A primary benefit of personal accident insurance is that its premiums are extremely affordable. Typically, you can get an insurance cover of Rs.10 lakh at less than Rs.1,000 per year based on the issuer, plan and number of add-ons that you select. You can claim the amount by providing evidence of your injuries without any hassles. When you buy this policy from Bajaj Finserv, you also get a bonus of 10–50% for every claim-free year, along with easy settlement within 7 days of submitting your claim.
Get accidental death cover
If you sustain injuries that result in your untimely demise, the nominee receives the insured amount as compensation. These funds can help pay utility bills, fund your child’s education, cover unforeseen costs and provide financial security to your family.
Get child education cover
In addition to medical compensation, in the event of death or permanent disability, your children’s education costs are taken care of as well. When you take personal accident insurance from Bajaj Finserv, your family can claim 10% of capital sum insured for this purpose or get Rs.5,000 per child under the age of 19 years, whichever is lesser.
Now that you know how health insurance and personal accident insurance policies protect you, invest in it without any delay. Research the issuer and check the exclusions of the policy to know exactly what’s covered and what isn’t. To simplify and speed up buying insurance, check your pre-approved offer from Bajaj Finserv and use it to apply fast and hassle-free. Apart from this, also consider adding child personal accident insurance to strengthen the protection you offer your family.
Still Need More Funds After Availing A Home Loan?
Though getting a competitive home loan interest rate can reduce your EMI amount, repaying a home loan still takes a chunk out of your income. In such a scenario, you may be looking for additional financing for a variety of personal and professional needs. However, an unsecured loan may prove to be too expensive and a using credit cards may not give you a large window for affordable repayment. One of the best options is to avail a top-up loan on your home loan.
A top-up loan is not only easy to apply for, but also comes at an affordable rate of interest. Lenders will offer you a low interest high value top up on your Home Loan or Home Loan Balance Transfer so that you can meet your fund needs with ease. There is no restriction on how you can use this amount. You could use it to fund a wedding in the family, meet the education costs for your children, or buy a number of assets for your business.
However, when you apply for a top up loan to avail funds, your lender will keep a watch on certain factors to ensure that you can repay the loan along with your other EMI commitments. So, read on to know how you can secure more funds as a top-up loan on your home loan.
Work on your History with Repayment
Lenders look at your history with servicing loan amounts before granting you a top-up loan on your home loan transfer or home loan. Your credit score reflects your history with credit and lenders are willing to give you more money if you exhibit a healthy relationship with credit and do not have any large financial commitments in the present.
In case your existing lender is unwilling to offer you a top-up loan you can transfer your home loan with another lender who offers an array of benefits along with a substantial top-up loan sanction to make the most of your home loan.
Improve your Income
Over a period of time, there is bound to be a rise in your income as your career grows. This increase in your earnings gives you a better opportunity to get a higher top-up loan as lenders can count on you to be able to repay the new EMIs without defaulting.
Have a Valuable Property
It is highly likely that the value of your property appreciates over time owing to which lenders will be willing to offer you a hefty top-up loan. This is because the increased value of your property acts as secure collateral for your lender as all top-up loans are secured loans offered against your home.
Simply remember that you should not be using this additional loan amount for speculative purposes such as investing in the stock market, but rather put it towards any direct expense. Thus, buying a property in a prime location will prove fruitful especially if you intend on securing additional funds.
What are the Criteria to Get a Top Up Loan?
You must be a salaried or self-employed individual with minimum 3 years of work experience. If you are a working professional, in order to apply for a top-up loan, you must be a resident of India and between 23 to 62 years old.
How to Use a Top Up Loan
With a top-up loan in hand you can use fund an array of expenses such as:
Securing large amounts as a top-up loan on your home loan has never been easier. So, check your pre-approved loan offer today and avail a customised top-up loan deal from lenders.
Everything You Need to Know About Real Estate in Hyderabad
The city of the Nizams, Hyderabad, has become a prime destination for home buyers. The affordable real estate prices and the rapid growth of IT hubs have rung in this trend. Today, the city is home to some of the top IT companies in the world. When it comes to investment, most people stick to mutual funds and bank fixed deposits.
But if you know how to use real estate as an investment tool, you can profit from it too. And, if you have the patience, it can even outrun your expectations. If you are looking for residential property in Hyderabad, PBEL City has a wide range of housing options. PBEL City Hyderabad offers luxurious 2 BHK and 3 BHK apartments. It also has an in-house playschool for your child along with the best in class sports arena.
Here are the top four reasons why you should choose Hyderabad to buy your home:
# Low cost of living
The cost of living is a crucial factor when you make any real estate investment. But this is not the case with Hyderabad. Even though it is a metropolitan city, the lifestyle is cost-effective.
In fact, in Hyderabad you can enjoy all the conveniences of a big city without shelling out too much. And if you choose a property like PBEL City, you can live luxuriously without much of a pocket pinch.
# Employment opportunities
Most young people are more inclined to setting up home in locations that have employment opportunities. Like Bangalore, Hyderabad has also become the preferred destination for the IT industry.
This has led to the creation of more jobs and spiked the demand for real estate. Thus an investment in property in Hyderabad is guaranteed to give you good returns.
# Excellent infrastructure and connectivity
Hyderabad’s infrastructure and connectivity have transformed remarkably in the last few years. The city’s promising infrastructural growth rate is increasing every year. The growth of IT and non-IT enterprises can be observed in popular places like Gachibowli, HITEC City, and Nallagandla.
The Outer Ring Road (ORR) is one such development project that has maximised road connectivity around Hyderabad. The inclusion of the Metro Rail across the city has boosted the connectivity options further. Coupled with government’s support the property market is all set to grow. So, whether you buy a home here or keep this as an investment, it will be a lucrative venture.
# Real estate in Hyderabad offers good returns
Real estate prices in Hyderabad are only rising. The need for land and homes is always increasing in this big city. For example, places such as Kukatpally saw a 7% rise in prices while it was over 4% for HITEC City. Those who have already invested here in Hyderabad, needless to say, are reaping handsome returns. Besides this, major corporate players such as Apple, Google, and Amazon are setting up their businesses in the city.
Hence, a real estate investment in Hyderabad promises a great return in future. Look out from gated communities like PBEL City, Hyderabad. These are great for renting out and ensure great resale value too.
So, without further delay, look for a suitable opportunity and invest in the property market. Buying a home is easier than ever before. You can get your home loan approved in no time. Both banks and non-banking financial companies (NBFCs) offer loans at good interest rates. NBFCs like Bajaj Housing Finance offer home loans up to Rs.3.5 crore and top-up loans up to Rs.1.5 crore.
By now that you know that Hyderabad is an ideal investment destination. So, keep the above points in mind and check out some excellent flats for sale in Hyderabad. In case you want an apartment, PBEL City Hyderabad offers some amazing flats at attractive prices. Truly, your new property in Hyderabad will be worth every penny.
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