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What use does life insurance offer for singles? Not just coverage but investment too
Article by Mark Manderson
Humans are as loath to ponder life insurance as to ponder their own mortal frailty; and young, unmarried humans are notorious for scarcely ever contemplating anything, so it’s no wonder that life insurance for singles doesn’t attract much attention. However, an early age is an advantageous time to commence a life insurance financial plan.
Singles’ financial obligations
Singles may not have any dependants for whom to care, but in this day of rampant debt, many yet have financial obligations-commonly credit card debt or outstanding student loans. Life insurance can be purchased to satisfy these obligations in the event that the debtor does not live to amortize them in the old-fashioned way.
Credit life insurance (not the same as credit protection insurance) is a convenient way to handle such an affair: The life insurance policy covers a particular debt, with the creditor as the policy’s beneficiary. As the policy owner works off the debt, the credit life insurance policy automatically decreases its death benefit and premium to suit.
Credit life insurance carries an administration cost, however, which oftentimes makes it more expensive than a simple non-auto-adjusting term life insurance policy. Using ordinary term life insurance, the creditor should still be the beneficiary, but the premium and death benefit do not change, even as the debt goes down.
Another reason for a life insurance death benefit is the possibility (or certainty) of final expenses, which may include funeral costs and final medical expenses. K to K is an ordinary death benefit for final expenses.
Admittedly, the financial needs discussed so far might be considered nothing more than illusory in some minds; when a young, single individual expires, he usually has no estate to speak of, so he is free of his obligations, and his creditors go unpaid. It is not an honourable way to handle one’s finances, but one must recognize that it is how many blackguards operate.
Using life insurance as an investment tool
The two types of life insurance policy mentioned thus far terminate after a certain duration, a period stipulated in the life insurance contract. However, a number of life insurance types fall under the category “permanent life insurance,” that is, insurance which continues so long as the insured lives and the necessary payments are made. Permanent life insurance comprehends an account called “cash value,” which accumulates interest tax-free.
Cash value, therefore, can be a functional investment vehicle. Beginning this investment early in life (i.e. even when single) is beneficial for two reasons: First is that starting early allows a longer timeline for your investment to grow. Second is that starting young is the surest way to lock in your policy under an affordable rate class and therefore have the cheapest life insurance rates possible.
What determines the rate of interest which cash value experiences? It depends on the variety of permanent insurance. The rate may be constant and guaranteed (traditional whole life); it may be declared periodically by the insurer (current assumption); it may be tied to a particular market index (indexed universal); or it may be invested where the policyholder chooses (variable universal).
Of the two chief divisions of permanent life insurance, universal life insurance is the better choice for making an investment because, rather than paying a fixed premium, the policyholder is free to pay the amount he chooses (subject to certain federal restrictions). Not only that, the cost of universal life insurance is lower than that of whole life insurance.
Singles out there, think about starting a life insurance policy now. Use an online life insurance quote engine to see what kind of rates you can expect (here’s one at www.wholesaleinsurance.net).
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Vehicle Insurance Plan: The Safety for Your Life Just Plan It
What little time it takes to make sure we do the “regular” things like purchasing vehicle insurance for our vehicle, makes the time well spent. The pay me now or pay me later cliché, in vehicle insurance plan, is never more true. The following tips will aid you in keeping your vehicle safe and ready to take you wherever you have to go.
Some Essential Things to Remember
Enough can’t be said about taking care of your car by regular oil changes, oil filter replacement and maintenance. Personally, we have oil changes every 2,000 miles. The recommended schedule is every 3, 000 miles. If you are prompt enough to pay attention to regular oil and filter changes and installation of other safety measures in your car, you can save your car from losses as well as from paying high insurance premiums for the coverage you opt. But the premium and sum depends on the model of the car which you possess. It should go without saying but according to the insurer’s point the insurance cannot be performed at a less premium.
And while we’re talking about maintenance, the fuel filter is probably the most overlooked or forgotten item for regular checkups. Auto experts don’t understand why this happens but it does. You should have the fuel pumps and fuel filters checked regularly on your vehicle to avert mechanical problems. Moreover, you can also save on the fuel. It is possible to get approximately two or more miles to the liter of gas if you promptly replace the fuel filter as and when required..
While these aren’t the only “regular maintenance” tips available, you can always research through your web for getting other ideas on vehicle maintenance and vehicle insurance that can help extend the car’s life and save your money and time keep it running in optimal condition.
How Important is Vehicle Insurance?
Insurance companies offer discounts on certain vehicles that are well taken care of. Of that, regular replacement of the brake pads is very important. Many expert mechanics will agree that all parts to the brake system are the most important safety features on an automobile. You must be able to stop your vehicle quickly and safely. But these safety measurements are useless unless you renew your vehicle insurance before expiring.
There are many types of vehicle Insurance available, some of them are
Private Car Insurance is one of the fast growing industries since it is mandatory for all cars. The sum and the premium depend on the model, value, and the purpose of usage of the car.
Two wheeler insurance covers accidental insurance for the person who drives the vehicle. The premium depends on current price and the depreciation
Commercial vehicle insurance provides coverage for all the vehicles which are used commercially like trucks and HMVs. The premium depends on the price, make, and the place of registration of the vehicle.
The vehicles plan usually covers loss or damage due to fire, lightning, external explosion, burglary, housebreaking or theft and other malicious acts. It also covers third party liability like injury or death and damage to the third party property. By paying extra premium you can avail coverage on loss or damage to electrical or electronic accessories.
In case, you have not considered having a vehicle insurance plan for your car, it is high time that you consider one for your car. A vehicle plan from a reputed company will keep you car safe and in perfect condition for a long time.
Article from articlesbase.com