How to Financially Prepare for Unexpected Injuries and Illnesses

English: Ambulance 5 (Photo credit: Wikipedia)

Life is full of unexpected delights and sorrows – it would be very boring otherwise. Though the delights bring high points that really make life worth living, the sorrows can often bring burdens that are difficult to bear. Nobody knows what’s around the corner in terms of potential injuries or illnesses, so the sensible thing to do is plan for adversity before any unfortunate events potentially occur and become overwhelming. 

Talk with family about finances and the future 

It’s easy to put off financial discussions time and again, while it’s never easy to go into detail about what should happen if an unexpected illness or injury occurs. Yet being prepared is the best way to cover all bases and ensure that there is financial security in the event that the worst happens. Ostrich syndrome, burying one’s head in the sand and hoping everything will simply go away, doesn't work.
Talking with a spouse or partner about financial options in the future helps to break down the understandable reluctance to address the issues. Nobody wants to think they are going to have problems, either unexpected ones or in the long term. Yet inevitably, there are certain unavoidable aspects of life, such as growing old, which will likely present future problems, meaning that putting everything off until the last minute is not going to help when difficult situations occur. 

Serious illnesses 

There are always risks of serious illness, such as cancer, heart attacks and strokes, so taking out appropriate insurance will assist with covering the costs of treatment, recovery and loss of income through not being able to work. A good life or trauma insurance policy will help defray the expenses involved, paying for hospital treatment and specialist backup, providing an income to meet mortgage repayments or even paying off a mortgage and other debts completely in the event of the death of a breadwinner.

 
The earlier a policy is taken out to cover these types of issues, the less expensive it is likely to be, and though it may seem like worrying too much, the resulting peace of mind is worth it, as is the potential financial security this can provide. 

Accidental injuries 

One of the most common injuries experienced by car drivers and passengers is whiplash, where the neck is damaged as a result of an accident. For this reason, whiplash compensation normally features in every motor insurance policy; it is widely acknowledged that this can be a very debilitating injury, sometimes causing medical problems for a number of years. However, because bogus whiplash claims simply push up the price of insurance for other motorists, it is important that a whiplash claim is validated and substantiated by a medical professional. 

Automotive insurance will also cover the hospital bills for other injuries experienced in an accident, so it is essential to look at the small print of an insurance policy to check if it will provide the right level of cover. Auto insurance can also cover legal fees – because legal costs can be very expensive, it is worth paying an additional insurance premium in the event that lawyer fees are required. 

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Mis-sold Credit Card PPI: Things you must know

In the past 18 months claims against banks for mis-selling PPI(Payment Protection Insurance) has rocketed, with the Financial Services Authority reporting that 2.2m PPI complaints have been made against the banks between January and June 2012 alone – an increase of 129% on the previous six months. However, whilst the numbers of people claiming back PPI on loans and mortgages rises steadily, fewer PPI claims being made against credit card providers. This is despite the fact that, according to the Competition Commission, credit card PPI accounts for one quarter of the PPI market. 

To make sure you aren’t missing out on reclaiming PPI on your credit card, here is how to check if you have PPI on your credit card, how to tell if you were mis-sold PPI and how to claim back your PPI.

How to check your credit card for PPI

There are several ways to check if you had credit card PPI. Start by finding your Credit Agreement – this shows if you signed up for PPI. If you no longer have it and your account is still active you have a legal right under the Consumer Credit Act to get a copy from the lender for £1.

You can also look at your statements – any PPI you were paying will be itemised under 'payment cover', ‘card insurance’, 'protection plan', 'ASU’ (Accident, sickness and unemployment) or similar.

As PPI claims increases, most lenders now have a PPI customer number. They should give you answer over the phone or within a few days. By law credit card companies have to keep details of accounts for six years after it was active so they will still have this information, even if it’s been bought by another credit card company – such as Egg who are now owned by Barclaycard.

If you no longer have your account details but your card was still active in the past six years, you can find them on your credit report. Equifax and Experian have free 30-day trials.

If your credit card account was close over six years ago and you no longer have the credit agreement, statements or the account number, it’s unlikely you will be able to make a PPI claim as that information probably will no longer be held by the company. 

How to tell if you were mis-sold PPI

If you answer yes to these questions you were probably mis-sold PPI:

• Were you self-employed, working part-time, unemployed, retired, in the civil service or a student? 
• Were you told that you were more likely to have your application approved if you bought PPI? 
• Did you feel pressurised into buying PPI? 
• Have you found PPI on your statement but were never sold the product? 
• Did you have any pre-existing medical conditions such as back problems, diabetes or a heart condition? 

How to make a claim on mis-sold PPI

Once you’ve established that you have had PPI on your credit card you can start a claim either yourself of by using a PPI specialists such as Gladstone Brookes. In 2011 Gladstone Brookes dealt with 44,600 claims for mis-sold PPI and claimed back over £108m. To start your claim call 08000 469 144 or complete their online PPI claim form.
Author Bio :

This post was written and supplied by Gladstone Brookes, a PPI claims company in the UK. They have helped tens of thousands of happy customers reclaim their mis-sold PPI's on their credit cards, loans and mortgages since 2006. Regularly writing and sharing personal finance and money saving advice.

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Saving Money and Getting your Personal Finances in Order

Budget (Photo credit: Tax Credits)

At this time of year with Christmas on the horizon, every penny counts. Kids are demanding all kinds of expensive gifts and you’re trying to save money for next year’s summer holiday, as well as needing a new coat before the weather takes a turn for the (even) worse this winter. 

The main issue that people have when it comes to getting their finances in order is budgeting, especially when you have to factor in how much you’re going to spend on Christmas presents. One of the best methods of budgeting is to sit down at the start of each month, when you’re fully aware of what expenses you’re going to have and roughly when they’ll be, allowing you to establish a rough figure as to how much you can spend each week until the next glorious pay day. 


If you can establish just how much you have available as what is effectively “disposable income”, then you can work out whether or not you can afford to go out and buy that new winter coat you need, or the pair of football boots your son wants or maybe even the One Direction tickets for your daughter, (secretly you – admit it). 
To make this even easier on the wallet there are a number of online discount sites on the Internet that can provide you with some substantial savings. For example, search for specific promotional codes and you’ll be presented with a series of discounts ranging from free delivery to 10% off the final bill. 


These discounts will prove to be extremely beneficial in the long run – especially in the run up to Christmas – allowing you to save up money for presents and the all-important dinner! 


If you can learn to budget, you’ll soon find that you’re much better off financially. It’s amazing how just sitting down and working out how much you NEED to spend each month, and how much “disposable income” you have can help to keep funds in the bank. You’re never too old to learn either, you just need a pad, a pen, all of your bills and a calculator. 


This article was written by UK-based author Matt Rawlings. With more than ten years of freelance writing experience, Matt is an expert in consumer advice content, providing details on how to use KGB promo codes to make significant savings on your online purchases.

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Grow your Business With a Merchant Account

English: A typical credit card terminal that is still popular today. visanet (Photo credit: Wikipedia)

If you're a small business owner, you can’t act like a Mom and Pop store in a worldwide economy. Some of us over 50 business owners, with established businesses or starting second businesses are learning the importance of accepting credit and debit card payments. 

Today the pockets of today’s consumers are filled with more plastic than paper. How many times have you walked into a small business and saw a sign that read “We only accept cash or checks”, Did you walk out without purchasing anything? 

No matter if you’re a small or large business you need some type of credit card processing so that you don’t lose customers to your competitors, who are more prepared to handle all kinds of transactions with credit card machines.

Start a with a merchant account and see your business grow.

If you are looking for ways to grow your business, you need to consider a merchant account from a reputable credit card processing company. The ability to handle various transactions shows your clients that you mean business, that your payment options go beyond “cash or checks,” which can help build a customer base that will keep patronizing your goods and services for years to come. With a merchant account, you can easily accept most major credit cards. 

Portability of credit card processing.

You may be on the traveling a lot, going to conferences, seminars and trade shows to promote your products. Just because you aren't in your store it doesn't mean you should lose out on a sale. With mobile or wireless credit card processing, you can accept plastic at a kiosk or vendor booth. A reputable credit card processing company will provide merchant support 24 hours a day, seven days a week, in addition to electronic billing and account management.

Know who your dealing with.

It makes good financial sense to research a merchant account service provider to ensure that you’re getting the best rates. A credit card company’s fee structure, including how long you've been in business, the percentage of wireless sales you make each month, the type of business you have and your credit score all determines the fees you pay. It makes sense to shop around. Other things to consider when securing a merchant account is whether or not the processing company offers encryption and secure payment gateways. You need to partner with an enterprise that will keep your information safe. 

If you're not accepting credit or debit payments you're losing business. Your clients are leaving you for other businesses that have credit card acceptance. Most of these virtual terminals pay for themselves in the long run. Grow your customer base and make money by setting up your account soon.

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Term Life Insurance Available for the 50 Plus Person

Universal Life Insurance Company (Photo credit: Thomas Hawk)

If you are past the age of 50, you may not know that you can still apply for a term life insurance policy. As time passes, it’s natural to think about the financial future of the people you cherish most. Term life insurance for senior citizens may help address some of these needs.

Why might a senior citizen want a life insurance policy?

Life insurance for seniors can help compensate for future expenses that your retirement savings may not cover.

You can also use term life insurance to help loved ones:

• pay off a mortgage
• cover estate taxes
• afford payment of final expenses
• transfer a business

Do I need to be in good health to be approved?

All life insurance companies may evaluate your physical health when quoting you for a term life insurance policy. Age, gender, height, weight, blood pressure, cholesterol, history of family illnesses and prescription medications can be considered when evaluating life insurance for senior citizens. Physicians may generally administer the same paramedical exam they would perform on a younger life insurance candidate. If you’re concerned that your general health condition will prevent you from being approved, some providers offer an option to insure people ages sixty and over with no medical exam. These policies generally range from $3000 to $15,000 in value and are appropriate for seniors

How young do I have to be to get approved?

It could be a rare event that insurance providers will issue a permanent life insurance policy to senior citizens over sixty. However, you may be issued a term life insurance policy for up to ten years from some of the leading providers as a senior citizen. It is common to be able to receive a 10-year term life insurance policy until the age of 70; in some states, like Arizona, seniors may be issued a policy until age 75.

How much can I expect to pay monthly?

When you’re a senior, it is important to consider the benefits of buying a term life insurance policy as soon as possible. Monthly rates for term life insurance policies may increase significantly on an annual basis. For example, a person at age 60 in great health and no history of family illness might pay $68.76 monthly whereas someone with the same medical standing at age 65 can expect to pay $117.37 for a 10-year $250,000 life insurance policy with MetLife. At 70, the same person might pay $223.56 monthly and at 75 could pay $431.91/month for the same policy.*

What should I look out for?

Too much life insurance is sold rather than bought. The best advice for seniors should be determine what it is they want to insure against and figure out what type of protection makes sense for them.

In other words, you should figure out what your loved ones’ financial needs will be. Then, you should determine how much insurance you’ll need to provide for their financial future. If you do decide that life insurance for seniors can cover your needs best, you should ask around and find a good professional that will not “sell” you on policies.

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6 Do’s and Don’ts of Being Self-Employed

(Photo credit: squareintheteeth)

There are many advantages to being self-employed from tax efficiency and flexibility to career enhancement. As with any job in any sector, there are rules to abide by. When one works in a permanent role, you have a strict work schedule you need to adhere to and you have an employer that you are answerable to. 

Contracting is more flexible but there are still do’s and don’ts that you need to stand by. You are your own boss however there are certain things which you need to know.

Here is a guide to help you comply with all UK law.

Claim for expenses 

There are special rates and allowances which you can claim back as a freelancer. During your work you will incur certain expenses like mileage and accommodation. Although you will have to pay these with your own money, you can submit a claim to your client and get the money back. Find out what rates you can be compensated for because they are tax deductible.

Pay taxes on time 

As a self-employed person, you are in charge of your own tax affairs which means you need to file your own tax return and pay any owed taxes by the deadline set by HM Revenue & Customs. Any late payments will get a fine so make sure you file your return on time whether it is by post or online.

Have the right business structure 

There are various business structures available to choose from such as limited company, umbrella company, sole trader and partnership. You need to choose the right one for you and make sure you operate within the law.

Business structures to choose from include:

1. limited company 
2. umbrella company 
3. offshore benefit employer trust (EBT) 
4. sole trader 
5. partnership 
6. limited liability partnership 

Keep business, business 

When you become self-employed, you need to keep everything about your business separate to your personal life. This can be difficult but by having a dedicated bank account just for your business finances, you ensure no lines get crossed. If you have a profile on social networking sites like Facebook or Twitter, set up separate business accounts.

Get expert help 

One of the main things you must do is get expert help. If numbers has never been your specialty and maths isn't your strong point, it will benefit you to seek professional accounting help. It may seem like a waste of time and money but in the long-run it will save you much more money. The specialist accountants can help you to avoid costly mistakes whilst advising you on legalities like IR35 and the Agency Workers Regulation.

Do your research

Being self-employed isn't a walk in the park. There will be times when work is quiet and therefore you will have dry financial periods. Make sure you do your research to ensure your desired industry is competitive and thriving.

Have a back-up plan in place and remember, if it doesn't go to plan don’t beat yourself up about it. Being self-employed just doesn't work out for some people.

Follow these do’s and don’ts to become a successful freelancer!

This article was provided by Nixon Williams, a leading freelancer accountancy firm in the UK.

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