Month : July 2017

Money Management

Estimating the Worth of Your Personal Injury Lawsuit

If you have been involved in a slip and fall, a workplace or an automobile accident or any other kind of injury, and considering filing a personal injury lawsuit, you may well be thinking if it would really be worth the trouble and the expense. You will only be able to answer that question by figuring out the cost of the injury, not only in monetary terms but also in terms of physical and mental damage, besides any need to punish the conduct of the defendant.

Monetary damages in a personal injury case are paid to the person who is injured by those who have been established legally as having been responsible, the defendant. If the defendant is insured, then the insurer will need to pay. If the compensation cannot be mutually settled between the plaintiff, the defendant, and their lawyers, it will have to be decided by a court of law after a trial. Some of the common types of personal injury damages:

Compensatory Damages

Most often, damages arising from personal injury are termed as compensatory, which means that a sum of money is decided upon to compensate the plaintiff for the loss incurred due to the accident or injury sustained. While reimbursements for damage to property or for medical bills are straightforward, it can be quite difficult to put a dollar value to the suffering or pain or inability to perform certain things due to lingering physical limitations. Some common compensatory damage types:

Medical treatment: You can expect the damages awarded by personal injury litigation for personal injuries to include the cost of medical treatment, whenever the accident has resulted in a physical injury. The bill can be settled directly by the defendant or the insurer to the hospital or the plaintiff can be reimbursed the amount of actual medical treatment received. In case, there is any medical care that is expected in the future, then the amount is estimated and paid to the plaintiff.

Income: If due to the accident you have not been able to attend to your work and this has resulted in the loss of salary or wages, the amount that you have lost will be included in the award. In case, the injury is estimated to affect your future earnings, then the award will also include the amount of future income expected to be lost. Typically, Atlanta lawyers term this as the plaintiff’s loss of earning capacity.

Loss of property: In case, any assets belonging to the plaintiff have suffered damage due to the accident, the award is likely to include a reimbursement of the amount required to repair or replace the asset as per the fair market value of the damaged or lost property.

Pain and suffering: If you had experienced pain and discomfort of a serious nature during and after the accident, then you can ask for a suitable compensation. Emotional distress leading to anxiety, fear, or even loss of sleep is also eligible for compensation.

Loss of enjoyment: If due to the sustained injury, you are not able to enjoy recreational activities, hobbies, and fitness workouts, you can ask for the award to include compensation for loss of enjoyment.

Loss of consortium: When the injury suffered due to the accident prevents you from enjoying a normal relationship with your spouse, including sexual relationship or companionship, then you may be eligible for appropriate compensation. Some states may also include the loss of relationship with a child in the damages.

Also learn: What is Long Term Disability.

Punitive Damages

In addition to the compensatory damages, if the circumstances of the accident point to a complete lack of care and caution on the part of the defendant, you may be eligible to be awarded punitive damages. The real objective of the award of punitive damages is to punish the defendant monetarily so that it acts as a deterrent to not only the defendant but also sets a precedent for others to keep in mind. In the past, there have been a number of cases, where punitive damage awards have been in millions of dollars due to the nature of the accident and the extent of its fallouts.

Conclusion

Since the fallouts of accidents leading to personal injuries are many, you need to carefully assess the damage that has been caused and file a lawsuit that includes the necessary compensation. Consulting a competent personal injury lawyer like Ted Spaulding is the best course of action.

Author bio; Nick Wayne is among the most reputed Atlanta lawyers in the domain of personal injury cases. He has successfully led the fight against large corporations that cause damage to individuals with their careless behavior.

Insurance

4 tips to picking the right insurance plan for you

Navigating the health insurance industry can feel like you’re entering a mind field. Do you choose the most affordable health fund or premium cover with all the added extras? Is one insurance provider better than the other? Is it even necessary to take out private health insurance?

These are just some of the common questions people ask themselves when considering health insurance. If you’re looking to find the right insurance plan for you, we’ve taken out all the confusion and made it easier with these 4 tips.

  1. Establish which cover is right for you

First things first, establish which type of health cover you need. There are three types of insurance cover in Australia. Determining which cover you need will help you choose between funds and policies. Here’s a run-down of your options:

  • Hospital cover:

Hospital cover allows you to be treated as a private patient in either a public or private hospital. This can cover the costs of your stay including theatre costs, intensive care, tests, doctor’s fees and pharmaceuticals.

There are four levels of hospital cover ranging from the most basic and affordable to most expensive:

  1. Public hospital – entry level with minimum benefits in a public hospital
  2. Basic hospital – private hospital treatment excluding high-cost services
  3. Medium hospital – covers a wide range of procedures excluding services such as pregnancy and hip replacements
  4. Top hospital – premium cover offer all in-hospital treatments
  • Extras cover:

Extras cover provides you with cover for a variety of general health services that aren’t covered under Medicare. Depending on the level of extras cover you take out, you could be covered for treatments such as chiro, physio, general dental, podiatry and speech therapy.

As with hospital cover, there are three levels of extra cover:

  1. Basic – designed for young and healthy people
  2. Medium – provides a broad range of cover with affordable premiums
  3. Comprehensive – top extras cover available
  • Ambulance cover:

Ambulance cover provides emergency transportation and treatment. It can be taken out on its own or included as part of your extras policy. With some funds, you’ll also have a choice of basic or comprehensive ambulance cover.

 

  • Combined cover:

Choose combined cover and you can merge your hospital, extras and ambulance cover together under the one package.

 

  1. Compare the private health insurers

Be diligent when it comes to comparing health insurance providers as your choice is likely to impact your annual premiums. Here’s a few points you should consider:

  • Check the insurer operates in your state
  • Search all the policies to find one that suits your current situation and lifestyle
  • Compare the premiums of non-for-profit and for-profit insurers
  • Know the rules about dependents
  • Find out how your pre-existing medical conditions affects the cover

 

  1. Learn the ling and check the details

Don’t let private health insurance talk leave you confused. Learn the lingo and check the details of the policy. Understand the terms used, the conditions of the policy including your limits and exclusions.

For example, some common acronyms used are:

  • Medicare Levy Surcharge (MLS) – the government surcharge taxing ‘high income earners’ living without private hospital insurance.
  • Lifetime Health Cover (LHC) – the government levy for those who don’t take out private health insurance before they turn 31.

It’s also worth understanding the difference between treatment covers such as General Dental verses Major Dental. General Detail covers treatments that maintain teeth health and prevent problems. Major Dental on the other hand, cover for major work such as root canals, extractions or crowns.

  1. Focus on value, not price

With so many insurance policies and insurers it’s easy to get swayed by the price. However, just like anything, if a policy is incredibly cheap, you need to ask yourself why.

Be diligent checking the exclusions, restrictions and the benefits of the policy. Focus on policies that offer you value for money, rather than a dirt cheap annual premium with high excess or limited benefits.

Insurance

7 Myths About Life Insurance Shattered

life insuranceMyth #1 – Single And Young People Don’t Need Life Insurance 

One mistake that a lot of single and young people make is “throwing caution to the wind”. A young or single person is much more likely to not have life insurance than someone who’s married, older, or has kids. 

Life insurance is important for a young and single person to cover things like student loans, credit card debt, funeral expenses, auto loans, and more. You’d be surprised at the amount of debt a young person can rack up during their younger years. 

Myth #2 – Only People With Kids Need Life Insurance 

Whether or not you want to accept it or not, your spouse is dependent on your income whether you have children or not. If you were to die tomorrow, a life insurance policy can ensure that your spouse will have the money they need to pay off debts and maintain their standard of living. 

It’s not just people with kids that need life insurance, it’s pretty much everyone. 

Myth #3 – Employee Life Insurance Coverage Is All You Need 

This is a misconception that a lot of people wind up believing. Many people think that just because they’re covered by their work life insurance policy, that they don’t need any additional policies to protect them. 

While the amount of coverage your work offers may be great, if you ever have to leave the company or get laid off, then finding a new policy at an older age may be next to impossible to afford. Think ahead and “lock in” an additional policy while you’re still young.

Term life insurance rates have gone down in recent years! Be sure to check out the link for more details! 

Myth #4 – Life Insurance Is An Expense You Can’t Afford 

Life insurance costs a lot less than you might think. For example, a healthy, non-smoker 30 year old man can secure $250,000 in coverage for only $18.92 per month. That’s a pretty low rate, and the payoff if you die is big enough to cover everything. 

Think about it for a second. Wouldn’t you want your family and loved ones to be taken care of in the event of your death? With an insurance policy like this, all your past debts and bills would be paid off and wouldn’t ever be a burden on your family. 

It makes the most sense to get covered under a life insurance policy that doesn’t cost a lot, but offers a substantial benefit amount.

Myth #5 – All Insurance Policies Are Created The Same 

When shopping for life insurance, it really pays off to read the fine print. Life insurance policies can differ greatly when it comes to coverage amounts and what they actually offer. Be sure to go over any policy you’re considering with a professional to ensure that you get the right coverage for you. 

Myth #6 – A Stay-At-Home Spouse Doesn’t Need Life Insurance 

Although a Stay-At-Home spouse doesn’t actually earn an income, they do provide a valuable set of services such as meal preparation, house cleaning, and child care that can’t easily be replaced. Having life insurance in place will mean that you can weather the burden of taking care of things at home with a nanny or house sitter. 

Myth #7 – Buying Life Insurance Is A Huge Hassle 

Buying life insurance both online and in person is a lot easier than it used to be. The policy plans are more streamlined and easier to understand, there’s not a lot of paperwork, and the cost to be a policy owner is a lot cheaper than you might expect.

In today’s turbulent world, it really pays off to have a great life insurance policy. You can protect your family from financial hardship and get the peace of mind of knowing that you’re doing the right thing in life. 

Author Bio:  My name is Lance Peterson; I am a graduate in Finance from UPenn. I am a banker, whose expertise stretches to areas like loans, investments, hedge funds, insurance and other related fields. I like keeping myself updated about the global financial scene.

Extra Income

How to Make a T-Shirt and Sell It

tshirtYou’ve probably heard those fateful words, “You could put that on a t-shirt!” It sounds like a great idea, or so you tell yourself. You have great ideas, great designs. The world would beat a path to your door – or at least your brilliantly designed website – and soon everyone would be wearing your designs, and you would be rolling in lovely green money.

It’s Not That Easy

Yes, you have brilliant designs and witty ideas, but getting from the Ah-ha Moment to putting a t-shirt on a client’s back is a ride on a learning curve. Don’t let that learning curve scare you off, though, because being able to wake up every day and do something you love is satisfying and fulfilling, even if getting that something off the ground is some heavy lifting.

Printing Your Shirts

You have your idea, you have your design – now what? Finding a printer to put the design on a shirt takes you from the idea to the actuality. Ideally, you want someone a) local, b) good, and c) cheap. Realistically, you might get a and b, or a and c, or b and a, or b and c. It’s going to be a tough haul to find all three. It also means evaluating what you mean by cheap. Most people have paid a good deal for a cool t-shirt that feel like you’re wearing a bulletproof vest from all of the plastisol glopped on. Instead it might be less of a hassle to reevaluate your ideal printer and look for a) local, b) experienced, and c) reasonable. Why?

  • Going with a local printer means that you can keep an eye on your print run. Being able to check your order in progress means catching problems before you’re stuck with 1,000 shirts that look like bad and feel like the previously mentioned bulletproof vest.
  • While there are t-shirt machines out there, unless you have the time to really learn how to use them and the design software, experience is going to trump DIY. An experienced printer stands a better chance of delivering a crisp, clear shirt in a timely fashion and at a better price than a print on demand provider.
  • Reasonable over cheap is a matter of opinion, but a cheap cotton shirt with design that looks like one of those old 1970’s iron-on decals is not going to make a customer happy or inclined to buy your next cool idea.

Some printers will accept a test order – a smaller run of shirts – against the possibility of future business. You will have to pay a higher rate, but being able to evaluate the quality of the production can have you angry customer service hassles later.

Pricing Pitfalls

Yes, you have cool shirts. Now, that you know how to make a shirt, how are you going to price it? According to Statistic Brain Research, one of the primary reasons that 63 percent of retail businesses fail in the first four years is because of “emotional pricing.” Emotional pricing is essentially thinking the product is worth more than it is simply because it’s your product, your design and your work. As much as you value everything you’ve put into your brand, a casual shopper is going to look at the price keep going. On the other end of the spectrum, racing to the bottom and marking your price to a super-low retail price gives you no room for sales and promotions, and maybe not even enough to clear your overhead. A clear idea of your operational expenses is a must before you post that price to the web.

Building Your Site from Storefront to Doorstep

A clean, professional-looking website puts your shirts in the spotlight. You want your customers to remember the shirts of course, but also to look back and think what an easy checkout there was, and maybe there was that free shipping thing, too. UPS, in a survey of online shoppers, found that the number one customer-pleaser for 81 percent of respondents was ease of checkout.

Right behind that was the variety of payment and shipping options, and the ease of making returns. Plotting your shop’s path from the point of view of a customer is a good idea, because the things that please or aggravate you are likely to do the same to your site’s visitors.

Go Forth and Sell a Shirt

Now that you know how to make a shirt, and have a rough idea of how to sell that shirt, start assembling your ideas for your store. Most of the popular eCommerce platforms can hook you up with customizable, brandable templates so that your site can be just as cool and unique as your t-shirts, connect you with payment methods, and shipping solutions. With worldwide eCommerce sales about to hit $15 trillion worldwide, you have a lot of backs looking for shirts. Start turning your ideas into moneymakers today.

Business

Businesses you need to consider buying

As a large investment and often complex purchase, buying a business is a major life decision. There are many factors to consider from industry, location to staffing and capital and it can be difficult to know where to start when you begin your search. If you’re considering purchasing an established enterprise rather than wrangling a start-up venture, read below for tips on businesses that you should consider buying.

Buying a business with a strong or steady financial position may seem a given, but what you consider strong will vary across different business types, as mentioned at www.form205.com. If you were considering purchasing a newsagency for sale versus a car sales yard, the foot traffic and per customer spend would vary dramatically, so sales volume and total sales amount alone may not be a meaningful comparison. So after you obtain these figures for the business that you are interested in pursuing, be sure to consider the context in which it operates. An analysis should also include a review of potential competitors, whether it be geographical and/or within the online space and you should also try to understand why the business is being sold in the first place.

Ideally you’ll also want to purchase a business that has decent brand power or one with scope to be improved or overhauled. A good way to get a preliminary sense of where a business for sale is currently at, is to mystery shop or deploy associates on your behalf to do so. This task will help you to gauge how busy an enterprise is and whether it’s a known entity in its current industry. Don’t forget that a lot of this information can be gleaned online through reviews, social media and even the calibre of the business’s website itself. If you or your associates get an opportunity to candidly speak to existing staff, this can also be a great fact finding exercise. Purely online businesses may seem a little tricker, but a SEO audit may also give indications of the business’s wider reputation.

You should also pursue a business within an industry that you have pre-existing contacts in or an in depth understanding of its current operation. Already knowing the product or service that you will be responsible for can be a great head start and will most likely make the first few months of business ownership a little less hectic, although it’s not essential. If you’re looking to move into an industry that is new to you, think about the networks you do have and whether there is potential for synergy of infrastructure or opportunities in areas such as office space, logistics, marketing collaborations or cross promotional advertising.

Don’t forget to engage the services of an accountant and business valuer if you’re not confident in conducting the research and due diligence that should occur when investing in a business. Even if you are familiar with the industry, it can be valuable to have a set of objective eyes look into a potential business sale on your behalf.