Save And Secure Your Finances With Three Simple Actions

Many of people do not understand how important it is to be financially stable. Financial stability does not necessarily refer to having a well paying job and a lot of money. In order to be secure, one has to know how to handle their monetary resources. You need to be able to determine how you will spend, save and invest your money. This will make sure that you are financially secure.

How to use your money

There are simple tricks you can apply to your life to ensure you are utilizing your money well. The three main elements are to make sure you can;

· Spend

· Save

· Invest

When you get your salary or profits from your business ventures, you must be willing to pay attention to all these three areas. The secrets to maintaining a constant structure that will ensure you are financially stable is by following the pointers below.

1. Budget

Always budget whenever you get your money. Be logical when you do so. Write down all your expenses and needs. When you budget, always indicate payments you have to make to insurance companies or loan payments if they are not part of your net pay. Once you have a clear picture of how much you are spending, you can now know how much to save.

2. Saving

Choose a savings account that will generate more funds for you. You may need to do some research before you settle for one. If you have dependents, you may want to put money aside for their needs as well such as tuition savings. Allocate your savings according to your needs.

3. Invest

Investing ensures that your future is secure. Once you have done your savings and budgeted well, make sure you take a leap of faith and invest your money in other ways. For instance, you can put some money into company shares.

For the sake of your family, you can also apply for insurance. Life insurance is the best since it covers both you and your loved ones. There are many options available for such insurance covers like new policies that offer life insurance without medical.

With these three factors in place, you can begin to take charge of your finances. In the event that you have extra money to spare, hiring a financial manager will ensure you keep track of all your expenditures. Be sure to prioritize in the first stages so that you meet your goals and live within your means. We believe saving budget.

Workers Benefit From Supplemental Insurance Coverage

Healthcare costs continue to rise, employers have started to shift the burden of health care costs onto their employees. Some have even cut back on employer-paid benefits. The health-care law requires most people to obtain and most employers to offer major medical coverage with certain essential benefits. Even so, what workers pay out-of-pocket through these plans keep rising as employers try to control their own costs.

A 2015 report revealed how employers are still looking for ways to reduce expenses by pushing costs onto workers in the form of increased deductibles, premiums and co payments. By offering supplemental or voluntary insurance to employees, this can provide financial protection in the event of a serious accident or illness. Three reasons why supplemental insurance is essential for employees are:

Healthcare cost increases are outpacing raises

According to a report, 31 percent of employers increased employees' share of premium, 30 percent increased employees' co payments, and 21 percent implemented high-deductible health plans. Those are big expenses hitting employees' wallets, but salary increases are not keeping up. A recent Kaiser Family Foundation study found that deductibles have risen six times faster than workers' earnings since 2010.

Out-of-pocket limits are high, even for higher-paid employees

The average out-of-pocket expense is approximately $7,000 for individuals and $14,000 for families, and that is only for covered essential health benefits. Yet, a whopping 52 percent of employees have less than $1,000 to pay for out-of-pocket expenses associated with an unexpected serious illness or accident, and 28 percent have less than $500.

Workers tend to choose price over quality, which may mean less coverage than they realize

With rising costs, it is tempting to choose health insurance based on the monthly price tag. In fact, 30 percent of employees say monthly premium is the most important factor when choosing a major medical insurance plan each year. A lower-cost plan may mean short-term savings, but could eventually add up to significantly higher out-of-pocket costs.

Employees need a financial safety net. Benefits received from supplemental insurance have long served as a way to help protect employees when they are sick or injured, regardless of their major medical insurance coverage. Some of these benefits include vision, dental, pet insurance, short-term disability, accident, critical illness, and hospital indemnity. Supplemental benefit recipients can use money received from these products to help pay for their daily living expenses, such as rent, mortgage payment, groceries, child care, and medical bills during the time the insured is unable to work.

When companies add voluntary products to their companies' benefits package, they can raise employees' level of satisfaction and help them feel more financially prepared to cope with possible life-changing events. On the other hand, employers can experience lower operational costs and save money in the process. The result is a win-win situation for both employer and employee.

Health and Your Insurance Coverage : Lead Poisoning

The water crisis in Flint, Michigan took place and residents worried about the lead content. For years, home and property owners and managers, as well as mortgage companies have known about lead risks.

Recent studies about the metal exposure in many parts of the country have raised significant questions.

What is lead poisoning?

This form of toxic poisoning can happen when a perilous level of lead enters the body. Incidentally, small amounts of lead are not good for you, either, and can cause serious health concerns, particular in kids under six years of age.

Where does lead come from?

Lead problems typically originate from lead-based paint and lead-contaminated dust. Older houses and buildings are problematic in regard to this. Lead can also be found in polluted air and water and soil. Those working with batteries, apartment or office building renovation may also be at risk, as are auto repair people.

How does one this form of poisoning?

All it may take to reduce low levels of lead poisoning is avoiding spots where lead is contained. Patients who suffer from a high level of lead poisoning may need to undergo a treatment called chelation. Family physicians are the best source of guidance in this matter. Of course, avoiding contact with lead sources is the best antidote in the first place.

How does one prevent lead poisoning?

Here are several everyday tips that help residents prevent exposure to lead poisoning.

• After turning on the cold water, let it run for a minute or so before using. 

• Wash hands before eating, bed time, and after playing outside 

• Sanitize toys regularly. 

• Mop all floors on a regular basis. Wipe furnishings and clean surfaces with a damp cloth to maintain a dust-free atmosphere 

• Train family members to remove shoes prior to coming inside 

• Plant grass over soil patches. 

• Plant grass over bare outdoor soil patches, covering sand boxes after playtime 

• Eat wholesome meals three times a day. 

• Avoid toys, remedies, cosmetics and hair dyes that may contain lead.

What about Property Insurance? Does it Cover Lead Poisoning?

This type of metal poisoning is a controversial topic for most insurance companies - especially when it comes to older homes, buildings and property. Generally, home and property owners must hire a special inspector to confirm that lead is not a known problem before a provider will sell related coverage.

More information about lead poisoning as it relates to property insurance can be learned from an independent insurance agency that is experienced in all areas of real estate.

Important Reasons to Buy Life Insurance

The first introduction to life insurance is when a friend or a "friend of a friend" gets an insurance license. For others, a close friend or relative died without having adequate coverage or any life insurance. For me, I was introduced to a life insurance company where I had to set appointments with friends and family as I learned the ends and outs of the industry and hopefully, make some sales.

Unfortunately, however, this is how most people acquire life insurance - they don't buy it, it is sold to them. But is life insurance something that you truly need, or is it merely an inconvenience shoved under your nose by a salesperson? While it may seem like the latter is true, there are actually many reasons why you should purchase life insurance.

As we grow older, get married, start a family, or begin a business, we need to understand that life insurance is absolutely necessary. For example, picture a safety net. You may be the greatest tightrope walker in the world, without a doubt. You could perform without a net, but, "Why?" You cherish your life and the life of those close to you and you wouldn't do anything that showed that you felt differently. Let's face it, we have no control over the unpredictability of life or of unforeseen occurrences. With that in mind, just as a safety net protects the uncertainty life, so does life insurance. It is an indispensable and fundamental foundation to a sound financial plan. Over the years, life insurance has given many caring and responsible people the peace of mind knowing that money would be available to protect the ones most important in their life, family and estate in a number of ways, including:

1. To Pay Final Expenses

The cost of a funeral and burial can easily run into the tens of thousands of dollars, and I don't want my wife, parents, or children to suffer financially in addition to emotionally at my death.

2. To Cover Children's Expenses

Like most caring and responsible parents, it is necessary to be sure that our children are well taken care of and can afford a quality college education. For this reason, additional coverage is absolutely essential while children are still at home.

3. To Replace the Spouse's Income

If one parent passes away while the children are young, the surviving caring parent would need to replace that income, which is essential to their lifestyle. The responsible surviving parent would need to hire help for domestic tasks like cleaning the house, laundry, and cooking. Add to that equation if it is a single parent, helping with schoolwork, and taking your children to doctor's visits.

4. To Pay Off Debts

In addition to providing income to cover everyday living expenses, a family would need insurance to cover debts like the mortgage, so they wouldn't have to sell the house to stay afloat.

5. To Buy a Business Partner's Shares

In a business partnership, the partners need insurance on each other partner's life. The reason is so if one dies, the others will have enough cash to buy his interest from his heirs and pay his share of the company's obligations without having to sell the company itself. They have the same needs (due to the risk that one of the partners might die), and they simultaneously purchased insurance on each other's life.

6. To Pay Off Estate Taxes

Estate taxes can be steep, so having insurance in place to pay them is essential to avoid jeopardizing assets or funds built for retirement. Use of insurance for this purpose is most common in large estates, and uses permanent (rather than term) insurance to ensure that coverage remains until the end of life.

7. To Provide Living Benefits

With the advancements in medicine and rising healthcare costs, people are living longer, but cannot afford to. Living benefits is an option to use death proceeds before the insured dies to help with obligations or necessities to ease the pressure on themselves and others.

How Much Coverage Should I Buy?

The face amount, or "death benefit" of an insurance policy (i.e., the amount of proceeds paid to the beneficiary) should be high enough to replace the after-tax income you would have earned had you lived a full life, presuming you can afford the annual premiums for that amount. In other words, the insurance replaces the income you didn't have the chance to earn by living and working until retirement due to a premature death.

The proper amount of insurance allows your family to continue their lifestyle, even though your income is no longer available. The actual amount that you should purchase depends upon your present and probable future incomes, any special circumstances affecting you or your family, and your existing budget for premiums.

Whole Life or Term?

Some people prefer to drive Cadillac, Lincoln or Rolls Royce, which come with all of the electronic gadgets that make driving safe and as easy as possible. Others prefer less customized makes, equally reliable to their more expensive cousins, but requiring more hands-on attention.

Whole life is the "Cadillac" of insurance; these companies try to do everything for you, specifically investing a portion of your premiums so that the annual cost doesn't increase as you grow older. The investment characteristic of the insurance means that premiums are generally higher than a similar term policy with the same face value. After all, whole life insurance is intended to cover your whole life.

Term insurance, on the other hand, is temporary life insurance. There are no excess premiums to be invested, and no promises or guarantees beyond the end of the term, which can range from 1 to 30 years. The annual premium for term insurance is always less than whole life, lacking the investment component, but your premiums will rise (often substantially) once the term period expires.

Both types of life insurance, term or whole life (or one of their derivatives) have benefits and drawbacks; both have their place depending upon the needs, desires, and financial objectives of the purchaser. A knowledgeable professional insurance agent can help you decide which type of policy is best for you depending upon your circumstances. But whichever you select, be sure that you have enough coverage to meet your objectives in the short term and the long term.

The Last Word

Some people mistakenly believe that life insurance is a scam. This is because the money for premiums is lost if death doesn't occur during the coverage period (in the case of term insurance), or because many people live to a ripe old age and continue to pay their permanent insurance premiums. Such naysayers compare life insurance protection to gambling, and forgo the protection entirely.

There are others, who have the belief that life insurance does not help them. To those individuals, the answer is: You are absolutely correct! The truth of the matter is that life insurance is a way for caring and responsible people to help ensure that their family can continue to move forward in the event of your untimely demise, a truly difficult time of loss. Of course, there is no bet - you will die, but no one knows when. It could be today, tomorrow, or 50 years into the future, but it will happen eventually.

Insurance best way for happy life.

Importance of life and Critical Illness Insurance

I think do you need critical illness insurance ? It can be hard to imagine yourself in a position where you might need to file a critical illness insurance claim; however, it is important to note that the most important thing to prepare for is not the possibility of being affected by a critical illness, but the emotional, physical, and financial costs of surviving that illness. Living with and even beyond a critical illness is challenging and costly. Your recovery may leave you with the cost of healthcare services, prescribed drugs and supplements, home care costs, costs of renovations or modifications to the home for new accessibility needs, childcare, and other expenses that may not be covered by your government health insurance plan. You may have to travel to get the medication or treatment you need, or you may simply need to travel to get into climate conditions that are more suitable to your psychological, emotional, or even physical healing. On top of all this, you have your regular household bills plus the potential disruption to your ability to work. The financial implications of a serious illness add up quickly.

Despite all of these probabilities, many people - Canadians especially - underestimate the financial impact a critical illness can cause. Why is it so common for Canadians to overlook their need for critical illness insurance? Well, we have free healthcare, right? So why should we need to invest more money in the financial securities we already have in place? The truth of the matter is that our healthcare doesn't cover all of the expenses a critical illness can cause us to accumulate and the coverage it does provide may not arrive quickly enough if you are left sitting on the waiting list too long.

Let's take a look at an example: imagine you've just been called into the doctor's office. Your last test revealed that you have cancer and you need chemo therapy right away. In Ontario, your wait time to start retrieving treatment is four weeks or you could go to Buffalo and start treatment there tomorrow, but it will cost you $40,000. Critical illness insurance could help you pay that expense, and perhaps even the travel costs of getting to Buffalo for your treatment.

But that isn't all. As we've already pointed out, your illness comes with other financial implications-like your sudden inability to work. All of a sudden, your day-to-day living expenses have become a lot more stressful, and all of this is compounded by the fact that your partner is also taking time off work to take you to medical appointments. Those bills are going to start to pile up, and even after you've been given a clean bill of health, you still need time to physically recover from your treatments (as well as from the overall psychological and emotional trauma). You aren't going to want to rush right back to work to start tackling those bills.

Cancer isn't the only illness that can have this impact. Critical illnesses like heart disease, diabetes, stroke, epilepsy, etc. have an equally severe physical, psychological, and financial impact.

How realistic is it to rely on alternative options? 

Many people feel they can rely on their spouses, retirement savings, sale of assets, or government assistance in the event that they find themselves in need, but you don't want to be left in a position where you have to hope that these options come through for you in a timely enough manner. In most cases, it just isn't realistic to rely on these options. Plus, critical illness insurance provides you with additional benefits, like:

Providing coverage for expenses that aren't covered by our healthcare system: Critical illness insurance can help offset some of the costs of certain drug prescriptions or other treatments that you would otherwise have to pay for out-of-pocket.

Protecting your retirement: You don't want to eat into your retirement savings to accommodate the costs of your illness-those savings have their own purpose, and you don't want to sacrifice your future lifestyle or your ability to retire when you want. Critical illness insurance offers the financial relief you need to prevent the necessity of dipping into those savings so you can keep your retirement plans on track.

Additionally, critical illness insurance is designed to:

Reduce debt and other financial concerns while you cope with your illness

Replace reduced or lost income for you and your spouse

Cover the costs of bringing additional help into the home

Provide you with the opportunity and ability to consider new medical treatments and medications that are not covered by private or government health insurance plans. You need.

Don't Overlook this Coverage