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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.

Insurance

How does insurance public liability help the musicians and music teachers?

How does insurance public liability help the musicians and music teachersMusic is an art that needs time to learn and master. The ones who are proficient at it perform it and teach the ones who are interested to learn it. They are musicians and music teachers who perform either by singing or with their musical instruments. We feel relaxed and refreshed when we get to listen to music. Most of the music these days is recorded and passed on to others and there are live performances staged as well.

Musicians and insurance public liability:

When a student has learnt the music well he performs it with experts at first. As time goes by and he is an expert himself, he gets to have the whole stage for himself. Musician earns his living by performing. They get to meet a lot of people all the time, especially when they are performing a stage show. The people who come to the show, the show can either be on the premises of the musician himself or outside are the responsibility of the musician. If the public meets with any loss/damage due to the carelessness of the musician, the musician has to compensate for the loss. Compare cheap public liability insurance-liabilitycoverage.co.uk.

A lot of sponsors for stage performance, people who lend their stage for performance would require the musician himself to have public liability insurance policy. This will take care of public claims. Public liability insurance quotes can be got from the top insurers to ensure that you would be getting claims when you are sued.

Music teachers and public liability insurance UK:

Teacher in a person evolves after a lot of practice and experience. Not just this, but only after an art is mastered completely, it can be taught to another person. It is human nature that only when we experience it ourselves we will be able to understand and empathise it with another person who is experiencing it. We will know the difficulties that they face and will be able to guide them perfectly. We would know the pitfalls and can avoid them with the students.

Those interested in learning music would first visit the teacher’s premises, inquire and then join if they are fine with the terms and fee that is to be payed. But if it is a renowned teacher, public waits to get admission in the music school. So there are chances of injury for the public. To keep away from court and liabilities, get cheap online public liability insurance quotes from liabilitycoverage.co.uk.

Insurance

A Few Reasons to Take Out Life Insurance after Turning 50

You might think that life insurance is for younger people but there are a few good reasons for taking out life insurance after turning 50. Each case is obviously different but many people benefit from a greater peace of mind after taking out a policy for one of the following reasons.

To Cover Loans

No matter what age you are you won’t want to leave the burden of an outstanding loan behind you. This is why a life insurance policy can give you great peace of mind. The amount you need to cover will determine the premium you need to pay and you might very well find out this type of insurance cover is a lot less expensive than you thought.

To Pay Inheritance Tax

If you are going to be leaving behind a substantial amount of property then inheritance tax could be a big concern for your heirs. One way of helping them out with this amount is with a life insurance policy. You may need to ask an expert in the field to help you work out the amount you need to be covered for but you will feel a lot better once you have the policy in place.   

To Pay Funeral Expenses

A worry for many of us is how our family are going to be able to pay for our funeral expenses once we pass away. As the figure involved in arranging in most funerals is relatively modest the policy in this case shouldn’t cost a fortune. Often you can start getting quotes beginning with the minimum sum insured on offer and take it from there. If you find that even the minimum amount on offer is pretty high then you will be in the pleasant position of being able to think about leaving being a bit extra for your family.

To Help Out Relatives

In other cases the person looking to get insured on an over 50 life insurance policy will simply want to leave some cash behind for their family. This is a fantastic thing to do and it is especially rewarding if you know that your family will find that the money comes in really handy. Organising your own life insurance policy isn’t always the most exciting or pleasing thing in the world to do but if you can at least think about the good things which the eventual payout could do then it will be something well worth doing.  

Insurance

Short Term Car Insurance Deals

Oftentimes, we find ourselves committing to financial obligations that we actually do not need and this is severely compromising our personal finance. Take for example the dilemma of getting a car insurance. For a typical family car, one that you use everyday, getting a 12-month comprehensive car insurance policy is a no-brainer since you need to make sure that your car is well covered for any and all eventualities that may happen on the road or elsewhere. 

However, there are plenty of scenarios where this long-term car insurance plan may not sound as rosy. For example, if you are planning to lease a car for a day or two because your personal car is stuck in the garage for repairs, what do you do? You can always include the insurance in the lease but then again, doesn’t that significantly drive the price up causing you to spend more than what you need to? The same can be said of weekly car rentals for travels and holidays. Are you driving fromLondontoParis, for example? You certainly need a car insurance to cover all the risks that you are incurring while on the road and a monthly-long car insurance policy will certainly not cut it. 

If only there is such a thing as a one-day or one-week car insurance offer… 

As it turns out, this is the very logic behind short term car insurance deals. These are policies designed to do away with the unnecessary, long-term insurance coverage that can straddle you with spending you do not need. It’s time to do away with car insurance that eats up your budget but does not serve you that well anyway since it won’t be put to any good use. If you have more than one car, for example, and you’re not using the second on a daily basis, do you really need to pay for a full year comprehensive policy when you can only get one for that period when you take it out for a long drive toItaly and back? 

If you want to be prudent, practical, and financially responsible with your car insurance spending, check out short car insurance deals as this give you the best chance for great coverage at reasonable cost. Rid yourself o the long-term deals and get only those that you need. With short term car insurance deals, you have full control of your insurance spending, just the way it has to be for people who are financially prudent. Nothing else can be more ideal. 

Insurance

How To Obtain Car Finance With Bad Credit

Getting loan for car can be a bit tough if your credit score doesn’t present a positive picture. There are both traditional and modern-day institutes which are eager to lend money to potential car buyers. However, they weigh in all your risks and credit-worthiness before handing you the money and deciding the rate of interest. It can be really difficult to convince a traditional institute like bank to grant you car finance if you are running in bad credit. Even if they do grant you finance, they will charge you very high rates which can cost you a lot more money than you had prepared yourself for.

However, there are some modern day companies and dealers who provide low-interest car finance with bad credit. Nevertheless, your existing credit position will indeed play some role in deciding the rates and terms. So, here are some basic tips and advices which you should keep in mind:

  1. Scan through your credit reports: You must try to figure out the exact condition of your credit. It is always a good thing if you know exactly where you stand. Prudent thing to do will be to ask the major credit bureaus to submit you their reports. You can also go through them to find out the veracity of the statement. At times, errors may be committed by the clericals which can have a further negative impact on your credit rating. In case you find some anomalies, you can lodge an official complaint to get them rectified.
  2. Wait for some time: If you find that your credit rating will improve after the bureaus rectify their mistakes, then you should wait for the time being. In case, there is no error on the part of the bureau and your score is genuinely very bad, you can wait for a few weeks and try to undo some of the damages. You can clear some of your debts to get slight improvements in your score. Improvement in rating casts a positive impression on the mind of the lenders who will, thereafter, be willing to grant you finance at lower rates.
  3. Stock some money for higher down payment: While obtaining car finance with bad credit, you must be ready to part with a higher sum of money for a higher down payment. When your credit score is poor, lenders will not be ready to grant you higher loan unless you pay a very high rate of interest. But if you are willing to increase your down-payment contribution, then your bargaining power improves and rates also decrease.
  4. Make timely payments of accumulated debts: Your poor credit score reflects your inability to clear your debts, which must have accumulated over the months. It’s time that you start clearing some of those debts. It will be wiser to pay 5 smaller debtors instead of paying 1 big debtor.
  5. Hire a cosigner: Another wise move will be to take car finance with the help of a cosigner whose credit rating is positive. That cuts down the risk factor and helps you secure low-cost loans.