Friday, December 14, 2012

Top tips to invest in the equity market

If you are a person who is investing in the equity markets, then there are some tips that you can use to be a successful investor. There are a lot of risks that are involved in the investment in equity markets. This is why many people try to avoid the equity markets altogether. The fact is that if you are careful and have a long term plan, then the equity markets are the best for you to make money.

  1. Invest for the long term: If you are an investor, then you should think long term only. The traders are the people who think in the short term. They want immediate profits. They will put in their money and want immediate returns. A long term investor should be able to wait many years patiently till the stock appreciates in value many times over. An investor will usually be able to make more money than a trader.

  2. Be patient and disciplined: The investor should have a lot of patience. There are many instances when the investor has invested in a company and there has been no movement in the stock price. This gets the investor to become frustrated that the money is not providing any returns. Just when the stock prices of the company increase, the investor will sell thinking that at last the increase in the price has given a small return. This is only to see that the stock price keeps increasing so much that you start buying at the high end of the spectrum. So, if you are patient and have a target in mind, then you should reassess when the price of the stock reaches the target. If the fundamentals of the company are not good, then you should book your profits and come out of the company.
  1. Diversify your investment: If you are investing in the equity markets, then you should ensure that you do not put all your money on the same company. This is because of the fact that there could be instances when there is turmoil in the company and your investment will lose its value. So, the best thing that you can do is to ensure that you try and spread your investments across many companies in different sectors. This will provide you the best possible chance to make an income on your investment.
  1. Add on declines: If you are interested in making more money on your investment, then you can add to your investment when there is a decline. Even if you have invested in good companies, the equity prices will decline when there is negative news in the economy. This is the time for you to add more number of stocks in your portfolio. The stock prices of good companies will soon rise and you would be able to get more money out of your investments.

These are only some of the tips that will help you to make money in the equity markets. There are so many other methods in which you can try to minimize the risk and maximize the returns from your portfolio of stocks.

This article was brought to you by

Wednesday, November 28, 2012

Top Questions for Your Life Insurance Agent

Many people would assume that looking into buying life insurance is something that is done once a person has reached a certain age group, like senior citizens. However, anyone really can buy a life insurance plan at any age as an adult. Some people ask why they would need it if they are in good health. Others have whole hosts of other questions. Life insurance is always good to have, because if all conditions are met, it basically acts as a benefit to surviving family members.

An agent consults with people and often has the answers to most questions that people ask about potential coverage and costs. What follows are some of the top things you should ask your life insurance agent about.

How much coverage is needed?

This is one of the first questions asked and it is a very good one. How much coverage a person gets will determine the premiums. The premiums are what are paid every month to keep the policy in effect until the person's life has come to an end. Normally the amount of coverage needed is based on two sets of calculations and can really be answered by yourself, although the agent can help you with this. The calculations that go into this answer are: The amount it will take to pay off all outstanding debts, and the amount needed by the surviving family members to maintain a standard of living.

What sort of policy should be purchased?

Most companies offer several types of plans, others may specialize in just one. Your agent will help you determine, based on your needs, whether you should have term, whole, or variable. Some plans allow you to borrow from your benefit while still living.

Who is the policy under?

This is very important as you need to know who your policy is under, and that company should be researched with regards to its reputation and its strength, and more importantly, will they have the money to pay up once it comes time for the benefits to be paid?

What are the restrictions/exclusions?

Somewhere in the policy will be restrictions or exclusions. Certain modes of death may not be covered, so it is important to know what the limitations are. If you die in a manner that is excluded under the policy, then it is likely your family will get nothing.

Is there a medical exam?

Another very important question here, because sometimes if certain medical conditions exist, coverage may not be attainable or limited further than you want. It is worthy to note that some policies can be had without a medical exam, but obviously they will cost more than the policies that do require medical exams.

Will premiums rise with age?

Many policies have set premiums, so as one ages and gets closer to death, the cost of maintaining the policy does not rise with it. However, if a policy is not renewed and you are older, getting a policy again will likely cost more.

Is the policy renewable?

This relates directly with the above question. Most are renewable, but you need to make sure that you know the renewal deadline so you don't have to re-purchase a policy and risk having a higher premium since you've aged since the first policy was purchased.

These are not all the questions that should be asked, but they are some of the top things you should ask your life insurance agent about. Make sure to read everything and get all your questions answered before signing on the dotted line.

Wednesday, November 14, 2012

Why You Should Invest In Food Storage

As today's economy grows more uncertain, and the planet continues to change, we have less certainty about our existence. Without considering the 2012 end-of-the-world predictions, just looking at the natural disasters occurring in the world today it becomes evident that storing some food is a good idea. After all investing in food storage now can mean survival tomorrow.

Wednesday, October 24, 2012

Filed Bankruptcy-What's Next?

If you have just filed for bankruptcy, you will have to take steps to get past this dark chapter in your life. The good news is that the worst is finally over. The bad news is that you are not out of the woods just yet. What steps should you take to make sure that you get yourself back on solid financial footing?

Make Sure That You Hire A Good Lawyer

While your can apply for bankruptcy on your own, it is always a good idea to have a good lawyer representing you in court. This is because you want to know what property is protected in the bankruptcy proceedings. For example, most states have a homestead clause that allows you to keep your house while you are going through bankruptcy.

Friday, October 19, 2012

5 Ways Credit Cards Manipulate You Into More Debt

Of all the financial advice anyone with a credit card can give you, maybe the most likely thing you would hear again and again is, “Beware of the special offers.” People are inherently trusting and seeking acceptance. But that’s one of the things you need to be most cautious about when you are dealing with credit cards. They are like vultures. They prey on the behaviors and patterns of the weak, and how many of us won’t use something like credit when it is offered to us? Take this financial advice and be wary of these 5 ways in which credit cards manipulate you into greater chasms of debt:

Monday, October 15, 2012

An Easy to Understand Guide to Quick Cash Loans

In times of financial crisis, having access to instant money can go a very long way for those who live on a salary by salary basis. It is a good thing that nowadays, there are a myriad of lending programs such as quick cash loans that can be beneficial for those who need to obtain a substantially high amount of cash during an emergency situation. But how do they work?

Tuesday, October 9, 2012

Why Get Life Insurance From Prudential Life Insurance?

One of the most important transactions that people can arrange in terms of precautionary measures is getting a life insurance policy in order to secure the financial future of their loved ones. This is because to purchase a service that will hold their family up when they would otherwise suffer is a source of great comfort. As such, it is therefore critical to acquire the policy from a provider that will not only give them a fair price but will also

Saturday, September 22, 2012

Explaining budgeting to kids - how to make sure your kids are wise about money

Even if you don’t want to admit it, money makes the world go round and learning about money from a young age can help to make you money-smart in the future. If you’ve got kids it will be worthwhile sitting them down to discuss the finer points of money to them, especially budgeting, as this is one thing that they’ll be able to use in later life to

Wednesday, September 12, 2012

Tips on How to Get a Credit Card with Bad Credit

Bad credit means you can’t get any financial help from any financial institution like banks as almost each and every financial body considers your credit score to see if you are capable of repayment or not. A bad credit is a black mark on your credit report when you have bankruptcy, late payment, insolvency, missing payments and so on. To rebuild your credit score, credit cards can be a good way if you make monthly payments on time but if you, for whatever reason, lack the funds to make payments it will affect your credit score badly. So to make payments on time opt for short term loans known as a payday loans which don’t have any effect on your credit report.

Wednesday, September 5, 2012

$363M for State Highway Projects

US Transportation Secretary Ray LaHood announced recently that the agency would transfer about $363 million worth of funds towards state highway projects. The funds would be used to support a wide array of highway improvements as it relates to interstate rehabilitation and reconstruction, as well as technologies. These new improvements and innovations are to elevate safety standards and reduce traffic congestion, which appears to be the biggest nuisance of roadway travel.

Tuesday, August 21, 2012

Is It Smarter To Lease Or Buy Your Next Car?

We’ve all heard the terms ‘lease’ versus ‘buy’ in regards to automobiles. So when we start that dreaded car shopping experience we brace ourselves for the onslaught of terms, like financing and payment options, lease or purchase, sinuously spewing from the mouth of that overly-eager car salesman. Don’t get caught under his nebulous spell. If you do your homework before stepping foot into that car showroom, then you can feel confident in your decision making processes. Just in case you don’t know the differences or are unsure about what might work best for you long term, let’s explore the two options and weigh the good versus the bad.

Friday, August 10, 2012

4 Ways to Finance a New Franchise Business

Many entrepreneurs and businessmen invest in franchises as doing so is a proven-effective way to generate profits. If you intend to share a business’ best and lucrative practices and you want to be in that business yourself but not on your own, buying a franchise will be advisable.

Franchisors (businesses that own and sell franchises) welcome franchise buyers into their teams. They are dedicated to franchisers’ success since they can succeed as well when the franchise owners succeed. If you invest in a new franchise, you can expect guidance from the franchisor if you need expertise regarding finances and operations.

Franchise systems use proprietary tools along with effective systems to make use of time-tested business techniques. The goal is to achieve positive and ideal financial results. It is also advantageous that you will not have to invest money and effort anymore to building a brand of business. Through investing in a franchise, you will be authorised to perpetuate or operate a business using an already popular or trusted brand.

Thus, you can never go wrong with franchising. However, it is not cheap. Investing in a franchise can be a costly endeavor. If you think your financial resources will not be enough to cover requirements, there are different ways to finance a new franchise business. Here are four of the most commonly used options.

Thursday, August 2, 2012

Trying to escape the unemployment trap?

Blogger Amy :) 

According to a study by the Recruitment and Employment Confederation (REC) the number of permanent jobs fell for the first time in 6 months in June 2012 so for those who are unemployed or just left university, the prospects don’t look rosy.

Unemployment is set to increase as a new wave of graduates are set to enter the labour market over the summer. If this trend continues there is a danger that unemployment could hit 3 million in the not too far distant future, so what options are available?

Why are Payday Loan Affiliate Programs a good option for the unemployed?

There is the option of tedious days, trailing the Internet for jobs, writing applications, altering your CV only for it all to be fruitless or you could take control. Payday loan affiliate programs are a fantastic way to make money from home and if a pinch of dedication and enthusiasm is thrown into the mix they can be extremely profitable.

You can be up and running in no time meaning you can start making money immediately. All affiliates start out on the same revenue split but if you are successful and drive a lot of converting traffic/leads then this will be increased so that you receive more money for your leads.

Are Payday Loan Affiliate Programs complicated?

If you are worried that it is complicated, lengthy and expensive to set up, worry not! The best payday loan affiliate programs will have several ways in which you can integrate – set you up with a payday loan website that is ready to go; put their form onto your website; or you could just have a banner on your already existing site or blog and earn money through a pay per click campaign.

The best payday loan affiliate programs will have a dedicated support team that will advice you on which is the best integration option for you and how to make the most out of it.

Are Payday Loan Affiliate Programs expensive to set up?

With the best payday loan affiliate programs you shouldn’t expect any set up costs and you can be ready to go instantly. Once you are up and running it is then up to you as to how much you push traffic to your site; the more high quality traffic to your site, the more chance you have of those people applying and the lenders accepting which means more commission for you!

Are Payday Loan Affiliate Programs lengthy and unrewarding?

The emergence of ping tree systems in the payday loan affiliate industry means that as soon as a customer on your site submits their form it is immediately sent to multiple lenders on a tier from high to low until the lead is accepted. Once the lead is accepted you will receive your commission, the amount of which depends where on the tier the lead is accepted.

The best payday loan affiliate programs integrate with the biggest payday loan lenders in the industry as well as micro lenders and private lenders so there is a greater chance of your leads converting. They will also offer you a choice of how often you want to be paid either weekly, monthly or bi-monthly.

Take control of your life and start making money instantly with a payday loan affiliate program!

Amy Wilde is a marketing professional, currently embroiled in the world of Quiddi, a payday loan affiliate program; using her wisdom and inside knowledge to enlighten people on modern day online moneymaking ideas as well as pros and cons of the payday loan industry.

Sunday, July 22, 2012

Making a Financial Decision is Hard – Think About the Potential Cost of Doing Nothing

When it comes to making sound and steady financial decisions, it is all about the right timing and attitude. Making a timely decision in your favor can make you less vulnerable to a loss. Most people hesitate in making a fruitful decision at the right time and this causes them serious consequences in the future.

Being proactive and appropriate planning can save you from any financial downturn in the future and help you a great deal in making the correct decision. Therefore, devise a game plan for yourself and prepare early for any tough decision that comes your way in the future, so that you do not end up doing nothing.

Not Assessing your Finances before Making an Investment
When making a long term investment, it is important to look at all the options and assess your finances thoroughly so that you do not experience a loss. Take help from experts or online resources if required, so that you can make a decision that results in minimal loss and maximum benefits.

Also, instead of investing your entire savings, keep a small portion intact so that you have a little something at hand at all times and you can cope with any sudden loss in your investment. It is always wise to assess your finances and save something for a rainy day.

Not Comparing Savings Accounts Rate before Investing
When opting to save your revenue in a savings account, conduct thorough research on the profit rates offered for different savings plans by different banks. Not choosing the right bank can leave you hanging with a low profit rate for years and you will lose out on the revenue you could have generated if you selected a different savings account plan or bank.

Not Switching Banks When Fees Increase
Banks are used for multiple kinds of investments, including savings accounts and shares, and they also provide loans to the general public. For all these services, various banks charge various nominal fees and charges. The interest rates for the loans that they provide also keep fluctuating.

Therefore, in case you experience a high interest rate or exorbitant fees for your investment or loan, it is a wise decision to switch from one bank to another. The key here is to remain up to date about the rates and fee structures advertised by the different banks in your area.

Not Choosing the Correct Mortgage Plan or Loan
There are a variety of home loans and mortgage plans available in the market, catering to the needs of different types of consumers. However, do not make a decision based just upon low mortgage rates. Look out for other key factors such as term, amortization and payment schedule in order to manage your finances in the most effective way possible in the future.

Not choosing the correct mortgage plan can result in defaulting and forbearance on your account; therefore, think wisely before you take the plunge and make the correct decision at the right time.

Allan loves blogging about personal finance and helping people making sound financial decision. While not a financial advisor, Allan has been involved in personal finance for quite some time and has made successful decisions. Allan holds a BA in Business Administration and has been a regular reviewer at Ubank. Aside from blogging, Allan enjoys spending time with his family.

Wednesday, July 18, 2012

Important things to consider when you go for a payday loan

In times when you are in urgent need of cash, frustrated with a financial crisis looking for a hand who can lend you some money to get out of this situation, Payday loans will be one of the best options for most people. Choosing the best payday loan is sometime confusing and quite tricky, so here are some important things to consider when you go for a payday loan:

Interest quotes: Different lending companies offer different interest rates. As this loan is short term, its interest rates would be high compared to any other loans. These rates differ depending on the loan amount.  Always go with flexible interest rates. Research on the internet and get the best deal so that you can afford to pay back the borrowed amount.

Terms and conditions: Before signing for a payday loan make sure you read all terms and conditions. Understand them; if you feel something needs to be clarified never hesitate to ask. Opt for this loan only when you are satisfied with their policies.

Loan fees: Apart from interest rates some companies charge loan fees or administration fees. Usually these fee rates differ from companies so research online while choosing payday loans, and choose the one who can offer you the best deal.

Prepayment penalties: Some companies charge on early payment. So try to avoid selecting such companies. Make sure you choose the company which has clear information about any penalty’s you may be charged.

Post payment penalties: After completion of the loan period if you are unable to pay the amount back, then you will have to pay extra amount as a penalty charge. Better you choose a company who has a lower charge compared to other companies. Make sure you pay your loan on the agreed date to avoid any charges.

Lending company’s reputation: Seek advice from family or friends who may have already used this type of loan. Choose the right lender who can offer you the best deal. Also be aware of the fact that interest rates differs depending on the amount you borrow, duration of the payment, and the company’s brand. Some companies’ offer the best deals because of their reputation in the market.
As payday loans are associated with high cost and can grow incredibly fast, if you fail to repay your amount back you may face bad credit scores and high charges. Although payday loans offer many advantages certain things as mentioned above are to be considered before going ahead.

By Kevin.  I am a tech writer from UK.  I am into Finance.  Catch me @financeport

Monday, July 16, 2012

How To Handle a Worker's Compensation Claim

Even the best employers utilizing the safest procedures and taking every conceivable precaution might find themselves dealing with a workers compensation claim. Instead of seeing the claim as disgruntled employee's attempt to cash out, think of it as your duty as an employer to compensate a person that is hurt doing the job you are paying them to do. If this is your first time handling a workers compensation claim, you might not even know exactly what it is.

At its most basic, workers compensation is a payment from an employer to one of his/her employees for injuries or illnesses resulting from work. Many businesses have insurance for workers compensation claims, especially if the business they run is dangerous, and so the employer pays due to the insurance company and the insurance company covers the claim. Workers compensation laws, stating what injuries and illnesses are applicable and how much money the employer will owe for them, vary from state to state.

Here are a few tips for avoiding and handling a workers compensation claim:

Have a clear policy statement that requires all employees to report any suspected injuries to superiors or a designated person. Note that false claims will lead to termination of employment and put the notice in your employee manual after you've announced it.

Once an injury is brought to somebody's attention, document everything. After the employee has received care, have him/her write and sign a statement about the origin of the injury, and if there were other people involved or in the room have them do the same.

Make sure the employee gets the care he/she needs. Does he/she need to go to the emergency room? If you can send a supervisor with him/her that may be to your benefit, but make sure that you don't make your employee uncomfortable.

Familiarize yourself with your state's workers compensation laws. What injuries qualify? How much do employers usually pay for the kind of claim you're dealing with? Knowledge is power.

Institute practices that will avoid an injury repeating itself: If someone slipped on a wet floor, buy a sign that will caution future pedestrians. This won't deflect your current claim, but if two employees are injured in the same preventable manner, you might find yourself in a very precarious situation.

Show the claiming employee that you value him/her. Stay in touch while he/she is out of work, and encourage them to keep taking their medication or participating in whatever therapy they are using. It's always easier to deal with a non-hostile claimant.

Report the injury to your insurance company immediately and maintain open communication with them. Even though you are filling out forms, don't treat it as menial labor! Detailed, thorough information can often be the difference between a claim covered by an insurance company and one tossed to the side.

About the Author: When John Stallworth isn’t reviewing the best contractor insurance rates, he is busy providing legal consulting or building his handmade sailboat that he hopes to sale across Lake Michigan one day.

Tuesday, June 12, 2012

Never Let Your Money Sleep: Why Time Is Your Best Friend in Financing

Time and time again, you will be hearing business experts put emphasis on the importance of proper time management for businesses. This is a fact that you will be reading from various self-help and business educational books. In addition to that, you will also be hearing these in various seminars and lecture. You may be wondering why time management is very important.

Most businessmen think that there is more to the business industry than thinking about time and how to manage it. Instead of focusing on their time management skills, most business owners think that it is a lot more important to focus on other business skills like marketing and many more. Although these skills are quite important too, all of these skills and expertise will be put to waste if you do not know how to properly manage your time.

So, is investing your time on enhancing your management skills totally worth it? Well, ask the experts and the owners of the leading companies all over the world, was it worth their time? For sure, they would say yes! If you won't believe them, then here are some great reasons why you should spend your time on bettering time management skills:

  • Improved Quality of Work. Since you have successfully managed your time, you can get the needed tasks done in no time. As a result, you will have extra time to think the decision s through. Also, you can have enough time to think of alternative approaches as well as add additional but necessary information to your task. If you finish your work late, it will be quite impossible for you to do all this. With enough time, you can get to enhance the quality of your work.

  • Reduced Stress and Anxiety. If you have great time management skills, then it would be very easy for you to stick to the schedule that you have done and finish your tasks on time. Because of this, there is no need for you to re-check the work that you are doing or evaluating the importance of your current tasks. This does not only help you save a lot of time but it also reduces anxiety as well. This is also great for people who have too many items on their plate. If you have to multitask, great management skills will ensure that you would not have to take tasks more than you can handle. With great management skills, you do not have to rush or worry if you can beat the deadline.

  • Source of Motivation. It is best to set deadlines than do things without any plans. With established deadlines, you will be more motivated to finish the task on hand. For example, you can focus on your task more clearly if you are aware that you only have an hour to do it. There would be lesser distractions since you have a goal to finish.
  • Increased Work Productivity. One of the things that time management is most famous for is its ability to increase the productivity of a person or an organization. By setting priorities and realistic time goals, people are rest assured that they will be doing every important work needed. Because of this, they will not omit any important task. In addition to that, this also helps people to prevent spending too many time on one task. Also, the person will not have to rush, he will be more calm, making it easier for you to focus more on the task at hand.

So, keep your money awake all the time by learning the proper time management skills you need to grow your business!

About the Author: Sarah is a finance and business blogger based in the Philippines. She is currently working for Australian Grants Gov Portal. An Australian government business grants website made specially for people seeking government grants programs, loans and funding for your business, start-up or community group.

Saturday, June 9, 2012

How to Get the Best Auto Loan Rate

If you're in the market for a different car, whether it will be brand new or slightly used, it's probably very important to you to get the best rates you possibly can on an auto loan. There are a lot of sources you can go to in order to get a loan, but some of them may not offer you very good rates. Here are a few tips on how to get the best auto loan rates.

Do Your Research
No one is going to walk in off the street and offer you a loan, especially if you expect good interest rates. You're going to have to make the effort to try and find a lender that will give you the best rate. Due to the nature of buying a car, which will invariably involve negotiating a good price, you will want to be prepared when you walk into the dealership. That means doing some research to find the best rate you can on a loan.
Ask Your Friends and Neighbors
A good way to find a lender that will provide you with good interest rates is to ask your friends and neighbors who they got their loans from. If the same bank or credit union keeps popping up in their answers, you will know that institution might be a good place to start looking for a loan.
Check Out a Few Banks and Credit Unions
Once you've narrowed down a list of banks and credit unions that will potentially provide good rates, you should schedule an interview with their loan officers. If you have a good credit score, they will more than likely be happy to talk to you about a loan. Having a good credit rating is extremely important if you hope to get good rates.
Manufacturer's Credit Bureaus May be the Place to Go
You may be able to get a loan through a name brand manufacturer, such as Ford Motor Credit or GMAC. These lenders frequently provide extremely good interest rates to their customers.
Compare Rates
After you talk to a few different lenders, and have an idea of how high your interest rates are going to be at each place, it's time to sit down and compare their offers. Pay attention to the details of each offer. Make sure they're comparable and that you're not comparing dissimilar rates. For instance, one lender's rates may seem good because they offer 2.8%, while another is going to charge 3.5%. But if the lower interest rate is for a longer period of time, you could end up paying far more than a shorter term loan would cost.
Arrange Financing in Advance
If you go to a dealership with a preapproved loan, you will probably be able to work out a better price for car. Arranging financing in advance will not only mean you get the car at a cheaper price, but the amount you will pay in interest will be less--because you won't need to borrow as much money.
Let the Dealer Make the First Offer
When shopping for a car, it's a good idea to wait for the dealer to make the first offer. If you go first, you may be offering them more than they would be willing to settle for. Patience is essential when negotiating an auto loan. Find out what they're asking, then respond with an offer of your own--but be realistic. No dealer is going to sell you a $50,000 car for $10,000.
Make a Down Payment
If a dealer offers you a no money down deal, just say no. It would be to your advantage to put down as much money as you can afford to. This has a two-pronged affect; it will not only reduce the amount of money you'll have to borrow, but it will lower the overall amount of interest you'll ultimately have to pay.
Stick With a Short Term Loan
The fewer months you borrow money for, the less you'll be paying in interest. Short term loans may require a more substantial down payment, but you'll end up paying far less for a car if you take out a 36-month loan as opposed to a 72-month loan. The reason is that for the first few years of a long term loan, the majority of your payment will simply be going towards interest.
Guest post from Bailey Harris. Bailey writes for

Friday, May 11, 2012

How to Get Mobile Home Insurance

Buying a mobile home is an affordable way to become a home owner. For many people it is the only way they can buy a home, because of the low initial cost. But like any home, a mobile home needs to be adequately insured before you move in. Following are a few tips on how to get mobile home insurance.

Determine Your Needs

Before you go searching for an insurance policy for your mobile home, you should determine exactly what your home insurance needs are. If you also own the land the mobile home is on, then your insurance policy will have to include coverage on the property. The insurance you carry will be comparable to a homeowner’s policy for a site-built home. You will need to be covered for loss from storm damage, liability against injury, theft, and fire. Your policy will also have to include any other buildings on the property, such as a garage or shed.

Coverage for Contents

You will also have to buy coverage for the contents of your mobile home. There are two basic ways you can do that: actual value coverage and replacement cost coverage. With actual value coverage, if something you own is either damaged or stolen you will receive payment for what that item was worth at the time the claim was filed. That means that whatever the initial value was, your payment will be released to you according to its depreciated value. With replacement cost coverage, you will receive whatever amount of money it will take to buy a comparable item at its retail cost.

Do You Need ‘Natural Disaster’ Insurance?

If you live an area that is prone to hurricanes, you may want to consider adding a rider that covers that type of damage. Another ‘natural disaster’ you may need protection from is floods. If you live in a flood plain, you may be required to carry insurance to protect against it. In some cases you may need to protect yourself against the possibility of a flood, even if you don’t actually reside in a flood area because there is always the potential for heavy rains to cause damage to a basement. Having flood insurance will provide financial protection from that possibility. If your mobile home is in an earthquake zone, you will need to have coverage for that potential problem, as well. If your home is financed, coverage for ‘natural disasters’ may not be an option; you may have to carry flood, hurricane, or earthquake insurance if you live in a place that is a designated threat area.

Personal Property Coverage

Owning a large collection of action figures or stamps is the way many people have of expressing themselves. If you have a valuable collection of this type, or if you have extremely costly jewels or furs, you will need to have adequate home insurance coverage. If there is a fire, damage from a storm, or someone breaks into your mobile home, having sufficient insurance coverage will mean you won’t have to take a total loss. Instead, you’ll be reimbursed for their value. It would be a good idea to have visual proof of your possessions in case you have to file a claim. Take digital photos of each item or use a camcorder to record images of them so you can prove you actually had the collection.

Shop for a Good Price

When you’ve determine exactly what type of coverage you’re going to need, it’s time to start shopping for an insurance carrier. You can go on the Internet and search for companies that sell insurance online. Fill out the forms on the websites and request a quote for the coverage you’ll need. After you’ve received a quote, you can use them for comparison when you begin calling the more traditional brick and mortar companies. Make sure you ask for exactly the same type of coverage when you speak to each agent. In that way, you will be sure that the quotes are for comparable home insurance coverage.

Life Insurance Tips for Seniors

Having a life insurance policy in place is important. Everyone needs to be covered, if for no other reason than to pay your final expenses. Even if you don’t have any loved ones to provide for, you don’t want to leave anyone with the burden of paying for a funeral or any other bills you may have. It used to be extremely hard for older people to buy a life insurance policy. They cost an arm and a leg--if you could find coverage at all. Nowadays it’s a bit easier. Following are a few life insurance tips for seniors.

Reevaluate Your Policy

If you already have a life insurance policy in place, you may want to take another look at it to make sure it still fits your needs. If you took out a term life insurance policy when you were just starting out in the workforce, you more than likely made sure the policy would supply adequate coverage for your growing family. They are probably out on their own now, and no longer need your help, so it would be a good idea to restructure your life insurance policy to meet your needs as they are today.

Things to Consider

Your old insurance policy probably contained adequate financial protection for your family to help them pay off a mortgage or put the kids through college. Now that you’re a bit older, the mortgage is most likely taken care of and your kids are probably through with college. You no longer need the same coverage you used to. You may also have adequate savings built up so your spouse won’t need to have the financial protection afforded by a life insurance policy. You should also be sure to update your beneficiaries. If your spouse or children have predeceased you, their names should be removed as a beneficiary. If you remarried, the policy should be updated to reflect your new circumstances. If you have a whole life policy, and have put away sufficient savings, it may be a good idea to move some of that money to a long-term care policy.

New Policies

If you had a term life insurance policy that has expired, it would be a good idea to either renew the term policy or opt for a whole life policy. For seniors, the choices may be limited, but you can still get adequate coverage.

Deferred Life

You can choose a deferred payment policy, which means the insurance company would only pay your beneficiaries the amount you’ve paid in premiums, or a portion of the policy, if you pass away within a stipulated time period--usually during the first two or three years of the policy. After that period of time has passed, your beneficiaries would be entitled to the full amount of the policy.

Guaranteed Life

Another policy aimed at seniors is called guaranteed life insurance. With a guaranteed life policy, you can get coverage that will pay your beneficiaries the entire amount from the moment you sign the papers. These policies are usually limited to somewhere between 20 to 30 years. That means that if you take out the policy when you turn 55, it will remain in effect until you reach the agreed upon age limit, at which time you’ll have to take out another policy. Once you are issued a policy, it won’t matter if you become ill, but you will have to answer questions about your overall health and possibly have to take a physical before you can receive coverage.

Talk to Your Insurance Agent

Before you make any decisions regarding exchanging your existing life insurance policy for a new one, or taking out any new policy, it would be a good idea to talk to your insurance agent about your options. There are many factors to consider and they will be able to guide you. Life insurance is a good thing to have, but you want to make sure that you’re not going to be either over or under insured.

Shop Around

As with buying any insurance policy, it would be to your advantage to shop around for the best deal before you sign up for coverage. Go on the Internet and get some quotes from online agencies. After that you should call your local insurance companies and get more quotes for comparison. If you have an insurance agent that you trust, then by all means give them the opportunity to meet or beat your best quote.

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