Category Archives: Personal Finance

Health and Life Insurance

Everyone knows how life insurance works, you protect your family in the event of your passing by paying a premium to ensure a determined sum of money be paid out to your family. This amount will ensure that their standard of living and financial status stays in tact after you are gone. This all sounds very morbid but it is important and responsible of you to consider. When researching life insurance you will see there are many types available, from many different companies and there will be many factors that determine your premium amount at each one. Besides your age, your health is probably the next important factor that all insurance companies consider when pricing out your policy. Please read below to read why this is true.

Why is your Health Important?

Life Insurance companies want to make money like any other business. Therefore if someone is healthy, that means that they will make more money from a customer’s premium because they will most likely live longer. Healthy people are attractive to them but it doesn’t mean they will necessarily get a discount. If you are unhealthy than you will most likely see your premium go up because it is a known risk factor for them that they are taking a gamble on. For example, if you have a family history of heart problems or cancer than your premium will probably be higher. Particular medical conditions are a red flag for life insurance companies. Conditions such as type 2 diabetes, high cholesterol, high blood pressure are all examples of these red flags. You may find it hard to find an affordable policy if you currently have these issues or have family history of them. It is also know that your body type, or bmi can be a cause for your rate to go up. Again, if you are in shape than statistics show you will live longer or be less likely to suffer from a health scare.

You need to make sure your are in good health if you want to save money on life insurance. You can even go onto nerdwallet.com and they will give you the difference.

How do Life Insurance Companies determine your Health?

When you decide on a Life Insurance Policy you will have to do a number of things. First you will have to fill out a lot of paperwork and answer a lot of questions about your lifestyle and health history. Not only will you have to supply them with information, they most likely will require a health exam to confirm your current health situation. Typically a physical and a general blood test is done in order to determine this. Now there are some companies that offer No Medical Exam Life Insurance but it may not be the most economical decision as I’m sure you are paying for them to turn a blind eye to your current health.

7 Things You Absolutely Need to Know Before Getting a Reverse Mortgage

When you retire, you want to spend your days thinking about trips you’re going to take, grandkids you’ll be playing with, hobbies you’ll be getting back into, and the time to yourself you’re finally going to have to get caught up with all the things you had to put aside while you were busy working and saving for your future. When the day comes that the future you were saving for is here, the last thing you want to have to think about is where the money is going to come from to pay for all the things you want to be doing. Even in the best scenarios, when you have savings and carefully planned for your retirement, it can be difficult to maintain the level of income you grew accustomed to as a working person. In these circumstances, many people think about applying for a reverse mortgage. A reverse mortgage draws on the equity in your home, giving you immediate access to that money, and only has to be paid off when you sell your home or pass away. You have to be at least 62 years old to qualify for one. There are pros and cons to reverse mortgages, but if you’ve done your homework and talked to a financial counselor, you may decide that a reverse mortgage is the optimal solution for your particular needs. Before you sign on the dotted line and make it official, here’s seven things about reverse mortgages that you definitely want to be aware of.

  1. You can get one even if you still owe on your mortgage. You may have heard that you need to own your home completely free and clear to be eligible for a reverse mortgage, but you can qualify if there’s just a small amount still owed and you use the reverse mortgage funds to pay it off.
  2. You can choose how you get the money from it. Getting monthly checks isn’t the only way to draw your funds from a reverse mortgage, although it is an option. You can also get a lump sum payment or open up a line of credit that grows over time. You may also be able to choose some combination of these options.
  3. Not all reverse mortgage lenders are created equal. The reverse mortgage companies with TV commercials featuring celebrity spokespeople may be the first ones that come to mind, but the most reputable ones aren’t necessarily the ones trying the hardest to grab your attention. Do your research and look for well-reviewed companies like All Reverse Mortgage, Inc. (https://reverse.mortgage/) that have good ratings from objective organizations like the Better Business Bureau.
  4. The upfront fees can be costly. It can be easy to gloss over the fees you get charged for taking out a reverse mortgage, as they tend to get rolled into the loan balance. However, they can be expensive compared to fees for regular home equity loans, so make sure you shop around to find competitive prices.
  5. Reverse mortgages can help protect your other assets. Drawing funds from retirement accounts during downturns in the stock market can put you at a disadvantage. One benefit of having funds available from a reverse mortgage is that you have an alternate source of income, which can allow you to leave your investment portfolio untouched until the market recovers.
  6. You’re still responsible for property taxes and home insurance. Taking out a reverse mortgage can wipe out any remaining mortgage payments you might owe, but it doesn’t cover the property taxes and home insurance that may have been included in those payments. You’ll have to take responsibility for paying those separately, so make sure you budget for that.
  7. The bank doesn’t own your home, and your estate isn’t required to sell it. Many people have the misconception that a reverse mortgage means the bank takes over the title to your property, or that you can’t leave your home to your heirs when you pass away. Neither is true! The lender will put a lien on your property, but you’ll still hold title as the owner. While you are required to pay off the reverse mortgage when the house is sold or you’re no longer living in it, your estate will have twelve months to find alternate means of settling the loan once they take possession, either by refinancing or paying it off outright. Some people will even use part of their reverse mortgage funds to purchase a life insurance policy exactly for this purpose.

Got all that? Reverse mortgages may not be for everybody, but they can be really helpful financial products for some people. Just make sure you take the time to learn as much as you can about them to decide if they’re right for you!

How can the Сhoice of A Broker Influence Your Trading Experience?

Forex brokers are the people playing an important role in the foreign exchange market. Therefore, as soon as you make the first step in the career of a successful trader, you will come across the first task of choosing a broker that will not only suit you, but will be an honest and reliable partner.

Every month a new brokerage company with a wide variety of services, bonuses, services, and traders’ contests enters the financial market. The main task of the trader is to choose a reliable broker, which is trusted by a lot of people. Literally all Forex companies claim that only they are the best, and it’s not an easy task to make the right decision in this situation.

Choosing the best forex broker UK will provide the trader with a high level of trade security, fulfillment of obligations and comprehensive assistance from the client support which is crucial for Forex trading.

Company experience

Make sure how the company of interest provides services in the financial market for quite some time. Reliable exchange intermediaries or Forex banks are companies with a positive history of at least three years. The longer the organization operates in the financial services market, the higher their level of professionalism, as well as the volume of tools and services provided to participants in financial markets.

A Forex company with experience is not always fair and transparent; you can also choose a new company that does its best for traders and earns a positive reputation and has an increasing flow of new customers.

Whether the company will remain at the same level depends on the business strategy it has built, whether it intends to continue working honestly or to instead directs its policy against the trader and starts making money using some shady methods.

Choose a Forex Broker Is Crucial

Licensed Forex brokers are certainly much more reliable and stable. After all, they work under the watchful eye of the regulator. Most of them are registered with the regulators of financial activities (hereinafter referred to as ROFD). However, not all ROFDs work to protect the interest of traders. In the summer of 2011 there was an unpleasant incident with a broker who did not have a license to provide brokerage services, and the company did not have registration in regulatory organizations.

When chatting, the employees said that the company was at the stage of reissuing the license, but as it turned out, FXCompany was deprived of the license of the Financial Services Commission (FSC) on May 25, 2010. This company’s actions inflicted serious damage to the financial reputation of Mauritius.

The handling of the claim in KROUFR also did not provide a positive result. The end of the activities of FXCompany, in addition to its license withdrawal, led to the re-branding in FXVan, the history is not much better due to the bankruptcy of Boston Prime and BT Prime which were regional brands of a major liquidity provider called Boston Technologies. In both of these cases, the re-branding of FXCompany in FXVan and the complete cessation of FXVan’s work, traders lost their deposits irrevocably.

Choosing a Forex Broker may be a pivotal step for any trader willing to try their strength on Forex market. Carefully consider all the options before making your decision!