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The Beginner’s Guide to Life Insurance

A life insurance policy is designed to financially protect your family in the event of your death.  It’s a good idea to understand exactly how these policies work before taking one out, however, to ensure that the policy you choose covers everything you need it to. In this article, we’re going to outline the most important questions you should be asking.

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What Do You Need Life Insurance For?

There are a number of reasons why you may be considering taking out a life insurance policy.  It is important to understand which ones of these apply to you before purchase.  The main reasons you may want to be covered include:

  • To ensure your family are supported
  • To allow your partner to pay off your mortgage
  • To leave an inheritance to your loved ones
  • To cover the cost of a funeral

How Much Cover Do You Need?

This is a personal question and will involve looking at your current debts and responsibilities.  You can use a life insurance calculator to help you with this, but the main things you will need to consider are how much your family relies on your income, and whether they would be able to survive without it.  Most people choose to at least cover the cost of their mortgage, but you may also want to add your annual income plus funeral expenses to this total.

How Long Should the Life Insurance Policy Last?

There are two different options here; you can choose to take out a life insurance policy for a set period of time, or one that lasts until you die.  The former is often better if you just need to cover the cost of your mortgage.  If you have a 25-year mortgage, taking out a 25-year life insurance policy is sensible.  The downside to this is that if you live longer than the term, you will have effectively paid into a policy without return.  Whole life insurance is a better option for those who want to provide an inheritance to their loved ones.  If you live in Singapore, check out the life insurance Asia policies here for more information.

Should the Amount of Cover Decrease Over the Years?

If you are purely taking out a life insurance policy to cover the cost of your mortgage, it makes sense to take out a policy that will decrease in amount over the years.  This will make the policy cheaper as the payout amount will decrease along with the loan.

Should Your Partner Take Out Cover Too?

Even if you are the main financial provider for your family, it’s worth asking your partner to take out a policy too, especially if you have children.  While you may financially be able to cover the cost of the mortgage and bills in the event of their death, you will also need to factor in the cost of childcare and any other responsibilities your partner had.  You can take out a joint life insurance policy to save on the costs, although keep in mind these policies usually only pay out upon the first death.

Are you planning on taking out a life insurance policy soon?  Let us know in the comments if this information helped you.

Factors Affecting Approval and Premiums for Life Insurance for Diabetics

Disclaimer: This article does not constitute medical advice. It’s for informational purposes only. Always discuss anything health-related with qualified medical personnel especially if you are diabetic.

When an underwriter decides your premium rate or whether to issue you insurance or not, they’ll look at a number of factors. Then, provided you qualify for coverage, they’ll calculate your rate based on the company’s policy which is usually presented in a table. The table features different categories each one related to a different rate. Here’s what you can and can’t do to get a more affordable life insurance premium.

Factors Under Your Control

These are some factors that underwriters take into account when doing a risk assessment for life insurance and that are under your control.

BMI

Getting a better BMI is about losing weight if you are over the healthy range or gaining if you are under it. The BMI, however, can be entirely inaccurate and is increasingly being replaced by other more useful assessments. For example, a fit pro-NFL Player might get the same BMI as somebody with obesity which doesn’t paint an accurate picture.

Accompanying Illnesses

A diabetic person with accompanying illnesses is a higher-risk than one without. Unfortunately, most people with diabetes develop other problems, mainly cardiovascular related. Fortunately, if they are treated, they can carry less weight at least when it comes to whether you get insured or not. So, working on prevention and treatment can get you a better quote.

Lifestyle Habits

What you eat and drink, how active you are, whether you smoke and drink alcohol, and how much sleep you get are all in your hands. These also happen to be things you need to pay extra care to when you have diabetes. Showing to the insurance company that you are willing to keep a healthy life despite your condition is one of the key ways of getting affordable life insurance.

Insurance Agent

Where you shop for insurance is also an essential element of getting approved. Insurance companies have different company policies relating to life insurance for diabetics, and some have lower entry barriers than others. Shopping for high-risk life insurance through American Term will give you the best options about your specific case; even if you have Type 1 diabetes or have been rejected before.

Life Insurance Exam

It is the life insurance medical exam that’ll show the insurance company whether you are really taking care of yourself or it’s all on paper. During the exam, you’ll give blood and urine samples though you may be asked to undergo additional testing—an EKG, for example. If you’ve been consistently keeping healthy lifestyle habits the tests will show and give you a bonus point in front of the insurance company. If you’ve been slacking—well, the opposite applies.

Factors Beyond Your Control

There are things that underwriters consider that are beyond your control. Nevertheless, it’s better for you to know them because some of them could be offset.

Age

Naturally, the elderly pay higher premiums on life insurance. If you are of senior age and have diabetes, you already carry two high-risk factors that you cannot change. What you can do, though, is show that despite your age you are keeping a healthy and active lifestyle.

Time Since Diagnosis

The longer you’ve lived with diabetes, the riskier you are considered to be from a life insurance point of view. If you’ve been diagnosed after the age of 50 and show that you are taking care of yourself, you’ll have more favorable chances of getting an affordable premium.

Type of Diabetes

Type 1 diabetes is considered more damaging to the body since it usually exists for longer than Type 2. Thus, it also comes with higher premium rates and a lower (but still existing) chance of being approved for life insurance. Type 2 diabetics have a higher chance especially if they show due diligence in managing the condition.

Company Policies

Some companies have stricter policies than others when it comes to providing life insurance to people with diabetes. You can’t change that, but you can pick a company with looser guidelines or turn to an experienced insurance agent for help.

Family Predisposition

Family predisposition to life-threatening diseases is also not something you can change. True, being predisposed to illness doesn’t guarantee that you’ll develop it during your lifetime, but insurance companies err on the cautious side. What you can do in such cases is to take measures to minimize the possibility of developing the illness in question.

As you see, the process of assessing risk for life insurance is multileveled especially when it comes to people with diabetes. Nevertheless, many of the factors are under your control. As for the rest, while you can’t change them, you can maintain a lifestyle that’ll give you more control over your wellbeing.

What is an LLC? Limited Liability Company

What is LLC? Can it suit all types of businesses? What are the procedures to form LLC? If you are interested in LLC, you might prefer to educate your mind with all the required information before taking any decision. In this article, we will cover all the aspects with pros and cons.

What is LLC?

LLC stands for Limited Liability. It offers an easy and simple structure to form your business as well as to protect all your personal assets when your business is issued. You can own it individually to become an LLC member. It can be also owned by multiple people. When it is owned by one person, it is known as the single-member LLC. When there will be more than one owner, it will be known as multi-member LLC. When you ready to start your business same with this Legalzoom LLC promo code.

Can Every Business Form An LLC?

It will depend on the types of business and its goal. As stated earlier, LLC is a business structure. If you want this structure for your business, you can go with it. Otherwise, you can consider other structures such as General Partnership, Sole Proprietorship, and Corporation. You can choose any of these business structures to ensure proper growth and to secure your business information.

Business owners prefer LLC since it is simple and offers the right protection to your personal asset. Unlike other business structures, it will protect your personal assets when your business is sued. Another benefit is that it is easy to form and maintain.

What is the Procedure?

  • Choose and reserve a legal name
  • File Your Articles
  • Decide the owner of your business
  • Decide the numbers of the owners who will be the part of the LLC
  • Get all the required certificates including your business license
  • Get an Employer Identification Number (EIN)
  • Inquire about other ID number required by your start or government agencies

The process will vary depending on the jurisdiction. However, all businesses need to pay disability, unemployment, and payroll taxes. Also, tax ID numbers of all those accounts will be needed along with EIN.

Benefits

Personal Asset Protection: Personal assets will be protected if the business is sued

Pass through Taxation: The profits of LLC are taxed only once. In other business structures, you will find double taxation.

Simplicity: LLC does not demand much paperwork. It is easy to form and easy to maintain as well. Like other structures, LLCs do not need to assign formal office roles or hold annual meetings.

Flexibility: LLC is flexible than other structures. You can be a single member and multimember. Also, it can be managed by managers or members. It can be elected to be taxed as S-crop or C-crop.

Increased Credibility: It offers more formal business structures. With an LLC, you can access business loans.

Cons

Lack of Uniformity: LLC is treated differently in different states

Self-employment Taxes: Owners need to pay tax on their share of LLC income

Conclusion

LLC can be ideal for all those who are looking for a simple business structure. Yes, it will protect their personal assets and can help to create a trustworthy environment.

Where to Hide Your Christmas Gifts

With the Christmas season over many of us are left with Christmas gifts we are not sure what to do with. The truth is that many of the gifts we receive are absolutely not targeted, which makes them a nuisance rather than a pleasant surprise. So if you are not sure what to do with a gift you may or may not want, here are some ideas to help you deal with them until you get a cleared idea what to do with them. Here are some places you can consider storing your Christmas gifts in:

1. Your kids bedrooms. I don’t think your kids are going to mind an extra waffle maker hidden under their bed or wardrobe. There is usually plenty of space in your kids bedrooms simply because your kids don’t have that many belongings. The older they get, the more crowded their rooms might become, so take advantage of it while you can.

2. In your basement or garage. I understand that your basement might be full of various items already, but generally it is up to you to be creative here and make sure that you find some new solutions allowing you to store more and more in those crowded places. Very often, wall mounted baskets and crates are a great solution to ensure that you have even more space.

3. In a storage unit such as self storage riverside. More and more people use them these days, and the more popular they are usually also the cheaper they become. If you have any doubts about how to take advantage of such units, you might want to pop into your local self storage facility and I am sure that they will be happy to show you around without any obligations. They will also answer all the questions you might have regarding their pricing methods, terms of use, etc. After all, you don’t want to have somebody unauthorised to use your storage units, but fortunately there are some steps that can be taken to prevent this from happening.

Being a Motorcycle Driver during Christmas Season

A lot is happening during Christmas season. Not only is the weather usually rainy (or snowy) and cold in many parts of the world, but if it weren’t enough to make driving more challenging Christmas time is also a time of increase alcohol consumption, which makes things a lot worse for many road users. If you are about to hit the road as a motorcycle user, make sure that your mind is clear and that you are aware of what other road users might do during this challenging time of year. Here are some tips that can help you with that:

1. Watch out on any signs of erratic behavior of other road users both car drivers as well as pedestrians. Only because some people decide they are not going to drive under the influence of alcohol does not have to mean that they are not going to cause trouble as drunk pedestrians. Watch out for any possible people who are about to cross the road where you are driving and carefully anticipate their actions. Be especially careful during afternoon and evening hours when people are more likely to have a drink and then behaving irresponsibly outdoors.

2. Anticipate traffic jams and other road obstructions. Every Christmas time is a busy time when traffic jams are more likely to happen. Always give yourself plenty of time to reach your destination and don’t hurry unnecessarily.

3. Don’t text and drive, even as a motorcycle user. There are a lot of distractions facing drivers nowadays, and only because somebody calls you when you drive does not have to mean that you have to respond immediately. Let their call go into voicemail and deal with it later when you don’t drive.

4. If you happen to be in a motorcycle accident make sure to contact a qualified attorney such as this miami personal injury attorney. It will be a lot easier to get proper compensation for your suffering once you have somebody to help you with your case. Usually, the cost of hiring a lawyer are lower than the compensation you might receive, so it is always worth it to give it a shot.

2018 Legal Industry Growth Report

The internet has transformed every industry including the legal services.

Online legal services are growing robustly over the last five years due to many factors; including the sale of legal documents, attorney networking and generic legal services easily accessible for both consumers and small businesses. The most popular legal services purchased online include LLC formations, small business incorporations, wills and trusts and power of attorney.

According to the 2018 report from the Pew Research Center, more than 75% of all consumers want legal help and are using the internet to perform their buying research. The internet is the primary marketing focus online services such as LegalZoom and Inc File. Learn the difference by reading the comparison of Incfile vs Legalzoom.

Budget oriented consumers have used the Internet to find lower-priced alternatives to independent attorneys and traditional law firms fueling the online legal service market growth. This industry trends in the US over the last five years has shown a 9.4% revenue reach to expand the industry to $7 billion in 2018.

Total number of companies has grown by 8.5% and the number of employees in the industry has grown by 6.9%. Number of companies in the online legal industry is 10,720 and total industry employment is 30,905 individuals.

Services sold include the following listed in order of greatest number; transactional services including interactive legal documents, subscription legal plans, estate planning and small business startups.

Industry experts cite the following opportunities and threats after analysis:

The projected decrease in crime for 2018 could pose a threat for lack of demand for online legal services. Less people in trouble with the law will be seeking online legal services less.

The projected increase of consumer purchases of services online will be an opportunity of growth for this industry.

Independent law firms are achieving strong growth by breaking away from traditional marketing strategies and better aligning themselves with their customers needs and investing in both workflow improvement and business development.

2018 industry projections indicate find zero growth for services of law firms, decreasing profit margins and continued loss of market share to alternative and online legal service providers.

This will require attorneys to stop depending on the old-fashioned marketing techniques and stopgap cost-cutting to improve their profit margins. Instead they will need to be proactive and study their market needs and answer them in a bold way that is consumer attractive for future company success.

 

How to Survive the Wrongful Death of Your Loved One

Wrongful death of a loved one might happen to you when you don’t expect it. This might be something that you have experienced before and it left you in disbelief, feeling helpless, often without money to continue to support your family. If this is something that describes your situation, you might want to continue reading this post. Here are some tips that will hopefully help you to survive this very challenging time in your life:

  1. Get emotional help as soon as possible. This can mean connecting with family members, friends, or other specialists who might be able to listen to you. You have every right to feel all kinds of emotions right now: anger, disbelief, sadness. Make sure that you express those emotions properly so that you don’t keep them to yourself only. Getting the right help at the right time can make a lot of difference in terms of how you are going to be able to handle the death of your loved one.
  2. Make sure that you have enough finances to be able to support your family. This is especially true if the deceased was the main caretaker for your family. Very often in case of wrongful death you will be eligible for some compensation, so you might want to make sure that you don’t miss out on any missing payments that you qualify for. In case you are unsure how to proceed, you might want to contact a person specializing in such matters such as a miami accident lawyer to help you shed some light to the important aspects that might be related to your case.
  3. Don’t expect things to get back to normal fast. Such situations usually take time, but it is up to you to speed up the recovery from the situation. Give yourself enough time to grieve as this is absolutely normal to feel various feelings straight after the wrongful death of somebody you loved very much. If possible, take a short vacation to come to terms with your loss and engage in a hobby that will allow you to feel normal again. Don’t think that you should feel sad all the time. Do the things you love and everything will seem a lot easier to handle once you get used to your new situation.

Make Your Company Known around the World

In this day and age, going international for many businesses is a must. Gone are the days where all you had to do was to reach your neighborhood, your city, or your country. Now, many companies turn international due to the huge benefits that await when you broaden your horizons and reach places you have never tried to reach before.

1. One of the benefits of reaching important foreign countries with commercial potential that suddenly your goal market becomes a lot larger than it previously has been. This won’t happen overnight, but with the help of the right Translation Agency will become a lot easier. Going international can ensure that you might finally be able to reach people who better understand your products and who are more receptive to them. If your company has been struggling in the past, this can turns the things around for you suddenly.

2. In order to reach other countries you will need to advertise your products or services to other countries by making them understand what it is that you have to offer. Again, this can be done better by using the help of a translation company to Translate your business documentation who will do a large portion of the job for you. You can try to translate all the documents your self, but not only will it be difficult for you if you are not a professional translator, it might actually do more harm than good. Beware of hiring translation agencies with little or no experience even if their prices are competitive as this might do more harm than good as well.

3. Reach other countries will allow for sharing in native languages the values of your company. In your translation endeavours, don’t forget to translate your website as well with all the target languages. Many company owners make this serious mistake and then suffer the consequences of it. Make sure that your website appears in as many languages as possible and don’t use a rogue translation agency to do the job for you. After all, your website is often your first point of contact with potential customers, so they will be making their decisions whether to trust you or not usually after a few seconds spent on your website. The very first impression matters, and it is very difficult to change it later.

4. Using a translation agency will also allow you to get close to users thoughts, feelings and needs. You need to maintain a dialogue with your customers, keeping then interested and engages. Even if it means that you will have to use a translation agency more than once to complete your objectives, it is alright as long as it brings you the profits you expect. You might want to translate more than just your website with the help of a translation agency. Keeping your social media accounts fresh with new content that is translated into various languages will keep your company afloat making sure that new content is being added on a regular basis and that all your clients stay up to date with the latest developments in your company.

It Is Time for Gold Independence Day 2019

If you are an investor, you need to be able to make all sorts of decisions. One of them is deciding in which type of assets you will want to invest. Two obvious choices here are crypto currencies due to the popularity, as well as gold that has always been popular. Having said that, it turns out that you don’t have to make that decision anymore as thanks to the introduction of a new currency called The Karatgold Coin (KBC) you can easily exchange it into gold if this is what you wish to do.

Exchanging Karatgold Coin into gold is not possible yet, but it will all become reality on so-called the Gold Independence Day 2019, which will take place on 04.07.2019. You might want to mark your calendars now, because this is when for the first time Karatgold Coin will be able to turn it into gold. As Harald Seiz, the CEO of KBC said, “We keep our promises and now make the exchange of coins into physical gold at a sensational conversion rate possible for the very first time”; “we said it – we do it”.

Below you will find some reasons why investing in KBC is a better option than investing in Bitcoin.

1. Every Karatgold Coin is always backed up by gold, a tangible asset. This only proves how safe this new currency is. Up until now, various investors have been vary of cryptocurrencies regarding them as unsafe due to a number pf hacking attacks on Bitcoin. Nothing like this can happen in case of Karatgold Coin and should make all the investors more at ease.

2. The exchange will take place at an amazing rate of 1 gram of gold with 24 carats for 100 coins. You might want to remember the motto that “tokens / coins become gold”. This will happen on the 4th of July 2019.

Is Owning An Electric Car Cheaper Than A Petrol Car

It’s no secret that owning an electric car costs for less to maintain than a converional car. It costs far less to charge than a petrol car costs to fill up and maintenance costs are far lower. This is because an electric car’s ‘engine’ has far fewer parts than a combustion engine does. Combustion engines have several hundred moving parts whereas an electric motor has less than a dozen. And because there are fewer parts in an electric car, car insurance will be considerably cheaper. In this article we break down the costs of ownership for both electric and petrol cars.

Fuel Costs

Electric Cars

The Tesla Model 3, fitted with the 75 kWh battery option, has an estimated range of 500 km on a single charge and its consumption sits at a reported 14,73 kWh/100 km. Taking into account the current electricty rates in South Africa, which sit at R1.54 per kWh, it would cost R115.5 to ‘fill up’ a Tesla Model 3. The average mileage driven per year is roughly 20 000 km, so the average cost per year to drive an electric car would cost roughly R4 620.

Petrol Cars

An Opel Adam has a 38 litre fuel tank and an estimated real-world consumption of 6.2 l/100 km, making the range on a full tank roughly 612 km. With petrol currently costing R 16.85 it would cost R640.3 to fill up an Opel Adam. Combine this with the average yearly mileage of 20 000 km and you’re looking at spending R20 924.83 a year just on petrol. That’s five times more expensive than an electric car.

Maintenance

It’s difficult to put a price on maintenance for electric cars because they’re fairly new to the South African market. We contacted BMW and Nissan to find out about maintenance plans for the BMW i3 and Nissan Leaf respectively, but weren’t able to get a definitive response by time of writing.

Suffice to say that costs will be far lower mostly because of the lack of parts that need replacing in the electric motor as mentioned before. In addition, nearly all of the latest electric cars built these days come with regenerative brakes which slow the car down automatically when lifting your foot off the accelerator. This means you won’t be stomping on the brakes as much and in turn, you won’t need to replace brake pads nearly as often as you would on a petrol car.

The most important part of an electric car is its battery. It dictates the car’s power and travel distance and so when you go out to buy an electric car you’re looking at the battery in the same way you look at a petrol car’s engine specs. It’s importance is equavalent to that of a petrol engine and it’s replacement cost is just as high. If you’ve ever needed to replace your car’s engine you’ll know very well that you’re better off buying another used car or even an entry-level new car.

Thankfully, all electric cars come with a battery warranty that covers you for between 6-8 years or 150 000km/200 000km, whichever comes first. Warranties vary between manufacturers and you need to be sure to read the warranty carefully before signing because most electric cars have specific conditions you have to adhere to in order to get your replacement battery for free.

Conclusion

Electric cars are undoubtedly going to become the first choice when it comes to owning a car. Costs are far lower and your impact on the environment is going to be far less than that of a petrol car. We suspect petrol cars will become an enthusiast’s hobbie at some stage in the same way muscle cars have become.