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5a4276b66d19a13e9300da4b567ca699 700x441 - Over 75? Here Are Your Life Insurance Policies

Over 75? Here Are Your Life Insurance Policies

Congratulations, you have crossed a quarter of a century! Wow, all the miracles you have witnessed in your lifetime are amazing! Thinking about how to diversify or broaden your investment portfolio? Then, you may just want to consider taking on the wonders of life insurance at your plucky age. Frankly, it has nothing to do […]

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Over 75? Here Are Your Life Insurance Policies

5a4276b66d19a13e9300da4b567ca699 - Over 75? Here Are Your Life Insurance Policies

Congratulations, you have crossed a quarter of a century! Wow, all the miracles you have witnessed in your lifetime are amazing! Thinking about how to diversify or broaden your investment portfolio? Then, you may just want to consider taking on the wonders of life insurance at your plucky age. Frankly, it has nothing to do with what period of life you are in or how old you are, life insurance is something that all people should contemplate procuring as it helps them obtain fiscal liberty and mental peace.

Yes, we will not deny that there are some discrepancies amid life insurance policies if you’re below the age of 75 or 69. You see, our bodies are fragile, and we must tend to them from a young age. If we don’t, we can have health issues as time passes. These can be both minor or major.

Why do you need life insurance if you’re over the age of 75?

Hey, you’re still a living, breathing, kicking life’s butt in the face individual! Why don’t you deserve life insurance? My friend, you, deserve it the most! These are expensive times that you and I live in. It is better to plan later than never and get that life insurance policy door open, so you can relax and life your remaining years in peace and enjoyment.

Do you really want to be burdened with the worry about what will happen to your family after your passing? We don’t mean to be morbid, but hey, that’s the vicious circle we all know as life. Rest easy and get your life insurance policy to take care of your surviving members. Did you know that an average family lives on USD 7000 a month? That’s an insanely high number! And guess what, it is only rising with time!

Speaking of time- time is the most precious gift we all have. Spend each moment possible with your loved ones and enjoy them. Get this life insurance business out of the way so you’re a free bird! I know you’re a responsible individual who has your family’s best interests at heart.

Again, not to be a downer, but those burial expenses are on the rise! And then you have funeral expenses to arrange and think about too. They don’t let us go in peace nowadays, do they?

Well, that’s where life insurance policies step in to take care of all these costs. Did you know that a burial package is a minimum cost of USD 10,000? We are not joking! We know you want to be retain your economic independence and not have to rely on anyone to provide the expenses on your behalf after you are gone.

Got a mortgage going on?

Did you know that if you do your homework (
or hey, hire someone to do it for you!) you will find life insurance policies that pay for mortgages as well. Your husband or wife or children will not be accountable for it. How do we say it, debt free?

What are your options as a 75 year old person?

Okay, this is awesome! High-five! You’ve decided to invest in life term insurance and that’s why you’re still scrolling through this beautiful article 😉

So, you have the option to purchase both term and whole life insurance policies. Now, are you wondering what they are? Don’t worry, we will tell you!

Term insurance

This kind of life insurance product covers you for a specific period of time or a number of years. if the party insured expires during the policy lifetime, then a sum of money is paid out to the beneficiary. Of course, if you live beyond the life insurance policy, then no money has to be paid out as you’re alive and well.

So the good thing about this kind of insurance category is that it provides a lifetime cover. It is also a lot more affordable.

Whole life insurance

This class of life term insurance has a locked in rate that covers you for as long as you live. That rate will not change with time and will remain the same, regardless of your health status. You simply pay premiums on time and can actually accumulate cash value over time.

What’s good for you?

Well, it really depends on what you want. If you want a lifetime of coverage and not worry about expiring policies, then go for whole term insurance. But remember, the premium can be a bit higher than its counterpart. However, whole life insurance over the age of seventy-five is a viable option. The majority of these classes do not let people above the age of 89 buy such policies, so it will be good for you as you will not have to renew it.

If it is the premium rate that matters, and you want a lower cost, then you should opt for term life insurance policies.

Got health issues?

It is absolutely normal to have health issues at the age of seventy five. Don’t fret! But remember that your health status will make a difference in the life insurance premium that will be allotted to you.

If you feel strongly that you got this and can demonstrate a reasonable health status, your premium will drop by fifty percent approximately! There is a huge difference, isn’t there? So just appraise your health conditions first before you go to buy a health insurance policy!

You can get life insurance above 75 years with a coverage of up to USD 25,000 by no exam life insurance over the age of 75. But if you want more, then you will have to undergo an exam. But if you dislike exams, then think of guaranteed acceptance life insurance as a choice. There is no waiting period, no questions are asked and nobody bugs you- its just that there is a massive cost attached with it.

So, don’t wait any longer. The time has come to take a decision. Like we said, better late than never! Get started and see what’s best for you!

Make Your Small Business Loan Application Shine with These Top Tips

loan money - Make Your Small Business Loan Application Shine with These Top Tips

Having your own business can be difficult. And, as you know, you’ll probably need outside funding for some or other reason. Whether you need cash to cover costs, to finance growth or for some extra working capital, a small business loan is unavoidable and the process can be quite daunting, especially if you are a new small business owner.

Not to worry, we’ve got five of the best tips around to ensure you have what it takes to knock any lender’s socks off.

1. Know the Requirements Beforehand

You’ll need to do some research before approaching any lender or financial service provider. As you will have quite a couple of options on who to approach, you’ll need to know what their criteria is. This can vary from one lender to the next, so it’s best to be prepared. Start by researching the requirements.

Next, you can take a closer look at their procedure and familiarise yourself with it. The more you know, the better you’ll be prepared.

2. Calculate How Much You Need

Next, you need to have a very good idea of the exact amount you will need to borrow. This will almost certainly be part of the application. For this, you’ll need to take a look at your budget, your profit and cost and come up with a feasible amount that will help you reach your business goals.

calculator - Make Your Small Business Loan Application Shine with These Top Tips

Something to keep in mind while calculating the amount you wish to borrow is the reason you need to take out a loan.

3. Specify How You’ll Use It

Which brings us to our third point. Lenders are going to want to know the purpose of the loan, and what exactly you plan on doing with the money. As in our second tip, you’ll need to be able to show them the exact amount you need, and what you need it for.

Having a clearly defined goal and need is important as this is exactly what prospective lenders want to see while reviewing your application.

4. Know the Five Cs

While we mentioned in our first tip that you need to familiarise yourself with the lenders specific requirements, there are five things you can be certain of no matter where you want to take out a loan. These are character, collateral, condition, capital and capacity.

Lenders will need to know that you can repay them, that you have a trustworthy character, that you have the collateral to pay them back, that the business is in a great condition and the amount of capital you need.

5. Get Your Credit Score Checked

Lastly, you should have a good credit score, both personally and for the business. A healthy credit score is estimated to be around 700. Before you kickstart the loan application process, be sure to have your credit score checked.

Lenders will more often than not check both your personal and business credit score, and no less than three credit bureaus should verify these.

There are of course a ton of things to take into consideration before setting a date for your application, but these are by far the most important ones. Good luck!

Follow Our Top Four Tips for Getting a Mortgage and Buy Your Dream Home in No-Time

wallet - Follow Our Top Four Tips for Getting a Mortgage and Buy Your Dream Home in No-Time

So, you’ve managed to save some money and are now serious about applying for your mortgage. Congratulations! While it is a very exciting time, it can still be very stressful, especially for first time home loan applicants. There’s quite a bit to know before handing in your application and crossing your fingers.

In this post we’ll discuss our top four tips to ensure you get that mortgage and your dream home without breaking a sweat. Let’s get started.

statemn - Follow Our Top Four Tips for Getting a Mortgage and Buy Your Dream Home in No-Time

#1 Know Your Credit Score

Even if you think your credit score looks good, it is advisable to grab a copy of it before you go ahead and apply for that mortgage. This will enable you to have a look at what lenders will see once you have handed in your mortgage application.

If it’s not looking great at the moment, don’t fret. There are some ways you can get that credit score in check before applying for a home loan. Firstly, you can make sure that the accounts you are no longer using are closed. Secondly, you can ensure that you are on the electoral roll.

#2 Do Some Calculus

Next up, you need to know your finances very well. If you don’t already have a budget, draw up a comprehensive budget to get an overview of your income and expenses. Not sure how to do this? Read our post on how to successfully implement a budget.

This will allow you to ascertain how much you can afford to put down as deposit and pay off monthly afterwards. Your mortgage payments will depend on the term, interest rate and amount you want to borrow. Having a clear idea of your finances will ensure you know what you are agreeing to.

#3 Proof of Income and Stability Counts

No matter what type of loan you apply for, you will almost certainly always be asked to provide proof of income. This is to ensure that you can in fact afford the mortgage and to see what your income looks like. Another factor that plays a role is stability and employment.

If you’ve just started a new job, it may be more difficult to get your mortgage application approved. Lenders prefer approving loans to people who has a stable history of employment without any sudden changes. If you have started a new job, applying for your mortgage after 3-6 months is advisable.

loan - Follow Our Top Four Tips for Getting a Mortgage and Buy Your Dream Home in No-Time

#4 Self-Employed? Show Your Accounts

Now, a lot of people are self-employed nowadays. Even though lenders would much rather approve a mortgage application from someone with a stable income, you can still apply for a mortgage. It might be a bit more difficult, but it is completely possible.

If this is the case, be sure that you have copies of all your finances over the past three months ready when you apply. The lender can also request a SA302 from HMRC to see whether or not you will be able to pay the monthly instalments. If you can’t provide these, you might want to wait a bit on that application!

Keep in mind that paying a bigger deposit will also count in your favour. This will mean that your monthly repayments will be smaller, while lenders can provide a better deal. And, if all else fails, why not partner up with someone and buy a house together?

6 Easy Ways to Start Saving Money Right Now

fiancial - 6 Easy Ways to Start Saving Money Right Now

Saving money from an early age is important. Not only will it ensure you have healthy spending habits, but you will also reap the rewards of having a handle on your finances. It is however sometimes easier said than done. We all have that one thing we cannot live without in a month, or that one account we want to keep in case we need to buy something on credit.

In this post we’ll look at six of our best tips on how you can start saving money straight away. Are you ready to start saving? Let’s get started!

1. Get Debt-Free

First things first, you need to get a grip on your debt, if you have any. Before you can truly start saving money you need to pay off any debt that you have. Scrub the accounts and move on with your life. You’ll now have x amount of money to save that you previously didn’t have.

2. Create Clear and Realistic Goals

Once you are clean and debt-free, you can start making a list of goals. This should include things that you are saving for. It doesn’t have to be anything major, but definitely something that will keep you motivated and your eyes on the prize.

lunch - 6 Easy Ways to Start Saving Money Right Now

3. Pack a Lunch Bag to Work

This is pretty straight forward, yet the most of us don’t do it. If you have a hard time getting up earlier in the mornings to pack your lunch, make it the night before. Bringing your lunch to work will ensure you aren’t tempted in buying that sugary soda or that pot pie. This will do wonders for your health and your wallet!

4. Skip Costly Overseas Trips

Instead of planning elaborate trips when you go on holiday, why not opt for staying at home and participating in activities closer by? This will save you loads of money, and you will learn more about your town or area while discovering it. Who said staying at home has to be boring?

5. Open a Closed Savings Account

A lot of us are often tempted into spending money that is meant to be savings. Usually this is a sign that we are not living within our means. If you find yourself in this position, open a closed savings account that will enable you to access it after a pre-determined period. Saving has never been this easy!

6. Have a Long-Term Plan

Whatever your personal finance goals, you should always keep it realistic and fresh. Review it from time to time while taking note of all your spending habits and your income. You should have a long-term savings plan that keeps you motivated at all costs. Whether you want to buy a house or a car, you should have a long-term savings plan in place.

Having a healthy relationship with your finances means you know what you can spend and what not. It also means you can put some money away for those times when you need extra cash or for that trip to Mauritius.

We trust that you’ve found our top tips helpful and that you’ll be enjoying financial freedom one of these days.

4 Failsafe Strategies to Implement a Budget Successfully

savings - 4 Failsafe Strategies to Implement a Budget Successfully

Are you struggling to manage your finances? Do you find that you barely make it through every month and don’t know where your money is going? Have you tried drawing up a budget but can’t manage to stick to it?

If you have answered ‘yes’ to any of the questions above, you are in good hands. In this post we’ll provide four easy tips to ensure you get your budget working for you.

finance - 4 Failsafe Strategies to Implement a Budget Successfully

#1 Determine Your Expenses

The first and most important step is to have a very good idea of your expenses. We’re not talking about that extra chocolate bar you just bought a second ago. For a realistic view on what your monthly expenses are, take stock of all your receipts and bank statements and capture all the relevant data. This step is crucial as it will indicate how much money you need to earn to get by.

#2 Add Your Expected Income

Now that you know how much money you’ll need to survive in a month, it’s time to take a look at what your income is. This includes everything, from alimony to rental and your salary. Now you will be able to have a good idea of what you are spending and what you can afford to spend. The key here is to refrain from spending money that you don’t have.

plan - 4 Failsafe Strategies to Implement a Budget Successfully

#3 Identify Your Savings Goals

In the next step, you’ll deduct your total monthly expenses from your total monthly income. As mentioned, the goal with a budget is to ascertain how much you can afford to set aside, if you can. If you don’t have any money left, you’ll need to revise your spending habits and cut on unnecessary costs. If you do have money left, this can be used to save or to pay off loans or debt.

#4 Monitor and Record Spending

The final step is crucial and determines whether or not you will be able to make your budget work for you. You need to monitor and record everything you spend closely. If you get into the habit of capturing all your expenses, you’ll soon see where you are overspending, and where you need to think twice before making a purchase.

It’s not necessarily the easiest thing to do, but well worth it. Sticking with your budget and actively managing it will ensure you cultivate healthy spending habits, and ultimately improves your finances. Good luck, and keep at it!

4 Reasons Why You Should Invest When You’re Young

invet - 4 Reasons Why You Should Invest When You’re Young

Are you in the financial position to invest but you are not sure whether or not it is the right thing to do? To be frank, the sooner, the better. Even though investing at an early age might seem impossible or perhaps even improbable, there are loads of benefits if you do so.

In this post we look at four reasons why you should start investing while you are young.

1. Healthier Spending Habits

While the majority of young adults may feel that they are not in the position to invest, doing so will improve spending habits. By committing a percentage of your income to your investments, you won’t run the risk of overspending. A lesson and healthy habit that will prove to be valuable in the long run.

2. Time is of the Essence

It may seem impossible, but if you can afford to invest even a small amount while you are young, it will count in your favour. Your investments will have a higher return the longer it runs, and by investing at a younger age, you’ll have more time to increase returns and reap the rewards.

money - 4 Reasons Why You Should Invest When You’re Young

3. Improves Quality of Life in the Long Run

By investing while you are young, you will inevitably prepare and save for retirement and future unforeseen circumstances. This means you won’t ever be in a situation where you don’t have money to cover basic costs, and in turn improve your quality of life.

4. Improved Personal Finances

While other people your age might struggle getting a handle on their finances, by investing while you are young you’ll be one step ahead. Not only will you be able to achieve your dream goals without being ruined financially, you’ll also be able to enjoy financial freedom at an early stage.

As you can see there really is only good things that can come from investing while you are young. And, if you are not in the financial position to do so right now, you can still start saving today to ensure that you will be able to live a comfortable care-free life. It’s never too late to get started.

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