How to Select a Good Home Loan Product?
Posted by robbinkendy06 on August 20th
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Take any middle class Indian couple, who have migrated to a city for professional reasons- owning their own home will be their biggest dream. In addition to giving the assured feeling of residing in your own home, buying a house also gives a sense of achievement to the middle class buyer. No wonder
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Selection of a home is a complicated process. You have to take into account your personal preferences, distance from your work location
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Following are some pointers that will help you select a good property loan interest rate product:
1. Compare interest rates judiciously
Banks offer loan products with teaser interest rates wherein the interest rate for initial few years will be lesser
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2. Negotiate for the lowest possible processing fee
Banks generally charge 0.5-1.5% of loan amount as processing fee. As you will have to pay this amount while applying for the loan, try to negotiate the lowest possible processing fee. Banks tend to offer discounts in processing fee to clients working in corporate sectors and to clients who buy during certain offer periods.
3. Check the bank disbursal process
Private Banks generally have an easier disbursal process. If you are purchasing a home under construction
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4. Look out for value additions offered by the bank
Gone are the days when a bank's job was to merely offer you cash for your home purchase. Banks now-a-days offer you assistance in selecting a property, negotiating with builders for bulk deals
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Many life insurance applicants have been turned down by some companies because of failing the requirements. What can they do to these people who seek the services and benefits of a life insurance? The solution is the life insurance no exam. This was exclusively intended for those applicants who did not qualify for a tern life insurance.
A life insurance no exam allows almost every applicant to own this type because there is no need for a medical certificate as proof of insurability; and there is no medical examination to undergo. Just be able to have the necessary resources to pay for its monthly charges and that's it. This type of life insurance offers the same benefits as that of a term life insurance. The premium rates are only much higher.
For any life insurance application, one has to follow certain procedures to get the approval. A very critical life insurance requirement is the medical procedures. Every insurer has to pass the medical requirement to continue with the application. If he passes the medical requirement, he will be verified if he can pay the life insurance's monthly fees using his monthly income. If he has insufficient monthly earnings
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The advantage of having a life insurance is the assurance of every insurer that his family will get the needed support from the cash benefit it offers. This can only be claimed if there is a proof that the insurer is no longer alive to continue with his life insurance contributions. Furthermore, the claim will only take place if the insurer dies within the coverage period.
The situation is different if the insurer finishes the term, there will be no claim of the cash benefit by any beneficiary. But the insurer will be given an opportunity to renew his life insurance without going through any medical examination. If he chooses to renew
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If there are limitations in acquiring a life insurance no exam, what are they?
1. The applicants that were disqualified in a term life insurance application are perfect candidates
2. Vehicle drivers with bad driving records
3. Cigar smokers who do not want to stop smoking
4. Any acts of danger are considered for this type
5. Any individual who does not want to undergo a medical check up
Without the proper information about life insurance, this may seem very complicated to accomplish. But even with a little information
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2019-12-14, 07:29 hat were disqualified in a 
