Life Insurance is Cooked Separately.

Universal Life Insurance Company (Photo credit: Thomas Hawk)

Buying and / or selling individual life insurance can be relatively simple or can become very complicated. It depends on the agent that attempts to explain it and this is the result of the type of training received and of the seriousness with which the agent took this training. There is the assumption that training life insurance agents and sales generic training is the same which is why life insurance is cooked separately. Many times it turns out that people say another agent explained it to them or they read about life insurance for 50 plus and they do not care. We identified that this type of response is given by people who have already been vaccinated against life insurance agents.

What life insurance does is pay the Sum Insured to the beneficiaries for the death of the insured. We conclude that any person who has dependents needs life insurance or rather he does not need life insurance. Dependents are those who need him to have a life insurance because if he died they shall receive that money. So the life insurance agent is at this point in the interview. As in most cases the dependents are the spouse and children who remain as beneficiaries.

Due to many rumors we need to clarify some things as it is worth to also check cancer insurance by PINNACLE LIFE NZ. Life insurance is intended to replace the economic value of the person and this is the basis for that, once the prospect accepts the need for life insurance to make money after his death for his beneficiaries. Determining how much assured sum should he hire is the second step. Now we have to make some simple numbers to establish together with the prospectus, the appropriate amount required for the insured sum. Let’s suppose that you’re the prospect and for work purposes have to leave home for a month. How much money would you leave your wife to meet the expenses of your family during that month?

Now, suppose you have sufficient resources to be out for not a month, but for a year. If you have sufficient resources how much money would you have to leave your wife to make the necessary payments during that year? What if you do not come back? How much money will your wife need to bring up the family? We call this prospectus kill slowly. Not done yet. To this must be added the cost of a funeral and any other debts that have not been settled before the death. Well you also have to consider that family expenses are going to be growing every year, not only because of inflation but as your children grow older costs rise such as education, food, clothing, medicine, automobile, services, etc.

Based on the above it is natural that more money will be needed to address this contingency and without life insurance it would be a catastrophic situation for the widow and orphans. It is now necessary to consider the cost of meeting this need and there are two options; Buy temporary insurance or endowment insurance. There are only two types of life insurance. The Temporary only covers death and the endowment covers survival besides death. In both there are different terms or duration of insurance. The Temporary advantage is that it is cheaper. The advantage of the Endowment is that over the years not only will you recover the amount paid but will make even more than what was provided and then it is used as a savings plan.

Finally there is the alternative management type insurance reserves if warranted where everything is fixed, nothing changes and no surprises which is the same as investment funds that are used in the management of reservation but this is more an investment than savings. To conclude the beneficiary designation is where alternatives are considered to leave payment in a single installment or include a trust that is the administration of the sum insured.

Are You Suffering From Daily Deal Fatigue?

Image by paulamarttila via FlickrIf your Internet experience is one notch above e-mail then you certainly are the victim of the daily deal syndrome. When surfing the Internet you have signed up to some of your favorites sites and get their interesting daily or weekly emails. If your a smart shopper you have searched the Internet to find the best deal for your purchases. Not wanting to miss out on those good deals you have signed up to the deal websites so you don't miss that next great deal.

You see the ads saying "We have saved 50 to 80 percent at restaurants, tickets to movies and hotels stays." You can get deals to almost anything, even skydiving. With nearly 500 daily deal sites it's easy to get lost in the emails.

But some bargain hunters are feeling bombarded by e-mails coming from the sites. I have had to unsubscribe from many deal sites, I just don't have the time. Now I just use a deal aggregator. They collect the deals from multiple sites and send them all in one e-mail. Yipit.com, for example, compiles deals from nine sites. It's a lot simpler.

Being overrun with e-mails isn't the only problem. Some buyers say that they find so many deals that are too good to pass up that they overbuy or let the vouchers expire. Unlike traditional coupons, which are free, vouchers let you purchase at a discount, but they cost money. Letting a voucher go can cost a buyer $5, $20, or even $100, depending on the purchase.

But what many voucher buyers might not know -- and what the daily deal sites don't advertise -- is that customers can use a daily deal voucher for the price paid, even after expiration. For example, a customer who paid $40 for a massage worth $80 can still get $40 credit toward a service after the voucher expires.

Groupon-style deals are becoming too much of a good thing for businesses, as well. Some local business owners say they're growing tired of sales calls from daily deal reps.

Daily deal sites typically charge businesses 40 or 50 percent of the cost of the voucher. Businesses keep the rest. But some deal sites are so desperate for deals that they are settling for 30 or 35 percent commission. As more startups join the fray, some run deals at no cost to the business just to build an audience.

Sometimes it feels better to take a break and unplug from the daily deals. It gets to a point where you hope the Internet is down so you just don't have to see another deal.


Reader: How about you, do you suffer from daily deal fatigue?

7 Things We Can't Live Without

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This recession that's turned our lives upside down has changed the way we think about life's necessities. What we thought were necessary things in out lives are now considered luxury's. We have made conscious decisions to cut back lifestyle for for a more frugal life.

Sales of cars, homes and appliances have plunged. We are finding out that we can live on a lot less and still function. It's not a choice we freely make but one forced on us. The question is what things in your life have you found that you can't live without. If you asked 100 people that question you would get a wide range of answers according to their list of creature comforts that they have become used to over the years. These things that make life a little more easy or bearable. 

1. Portable computers.

Whether it's cheap net books, iPads or laptops these bits of technology have become ingrained in our lives. We run our lives out of them. We shop on them, pay our bills, socialize, get our news and communicate on them. They make life easy and convenient. I can't live without my computer.

2. High-Speed Internet Access

If you have been using Internet access for any number of years you have used dial-up and know how painfully slow that was. But the day you started to use cable or DSL service you were not ever going back. Now the Internet was very usable. You could hook up a router and everyone in the house could be online. It was like night and day and the convenience was like"Wow". Could you live with out it. Probably not. I would cut back on everything else before removing my DSL. I would give up the dryer, dishwasher, cable TV, telephone, and the dog rather than lose my Internet. I can't live without my Internet.  

3. Smart Phones

When smart phones first came out they were priced well above the price of regular cell phones. I said I would never buy one of those expensive thing. But as time rolled on the IPhone came out and I was sold. Now I do everything on my phone. From banking to blogging. It's my GPS and my mailbox. My entertainment and my knowledge finder. It so covienent, it does everything for me quickly and efficiently. Sorry can't live without it.

4. Coffee

Here is a special subject close to my heart. Coffee. I have started everyday of my adult life with a nice hot cup of coffee. It's ingrained in our culture. To not start the day with coffee is like not to breathe. It's a pleasant habit and a rewarding experience. It holds a special place in our lives. Sorry can't live without it.

5. Pets.

Our pets are as important to us as members of our own family are. They keep us company and give us love. We send them for grooming and buy them clothes. They are like little hairy children to us. To give them up would be unthinkable. We would give up so many things to not lose them. Sorry, can't live without our pets.

6. TV and Movies.

We have cut back so far already. We are saving money everyplace else, please don't take the TV and Movies. Of course this includes the cable, too. We quit going to the mall and sporting events, shows and vacations. The TV is our only source of entertainment. So I can justify my 42" plasma screen with HD. We don't do anything else so can we keep it? Sorry, can't live without TV.

7. Drinking.

Yes, I mean booze. Also beer and wine.  Obviously people have cut back going out. During hard times you know people drink a lot more to self medicate. To give this item up is going to very hard. Maybe because of addiction problems. But also because we love the stuff. More people are drinking at home to save money. So, sorry can't live without drinking.

Even faced with hard financial decisions, loss of jobs and money there are somethings we can't live without. We will give up other things to have some creature comforts. The meaning of the words want and needs have become blurred. What were once luxuries are now necessities. What things can you not live without?