Colorado Marine Officer

For some reason I always seem to receive a lot of mail this time of year on the subject of “Life Insurance”. Most want to know the benefits or pitfalls of Term Life Insurance over Permanent Life Insurance.

Term Life Insurance is by far the most cost effective way of securing a life insurance policy available to the general public. Term Life Insurance covers a specific period of time – normally the policy will run for periods of 5, 10, and 20 years. As the age of the insured increases, the cost of the premium will increase. Premiums are calculated on the mortality rate, which is usually dependent on the persons age, sex and whether that person uses tobacco.

This type of policy allows the insured or the owner to pay a set premium for an agreed period. The Insurance company provides monetary benefits to the beneficiary in case of death of the insured during that period. Usually, the benefits received on the death of the insured is income tax free.

There are four parties in term life insurance: (1) the owner is the one who pays the premium; (2) the insured is the one on whose death, a death benefit (face value) will go to the beneficiary; (3) the beneficiary is one who will receive the proceeds of insurance on death of the insured; and (4) the insurer is the company providing the insurance. Depending on the Insurance company you choose, the premiums can be paid monthly, quarterly or annually. For example, Fred pays $50 dollars monthly to XYZ Company for insuring the life of Margaret (his wife) for a period of 10 years. Should Margaret die during the 10 years of the agreement, XYZ company will pay $25,000 to Joe (son of Fred and Margaret). Here the insured is Margaret, the owner of the policy is Fred, the beneficiary is Joe and the insurer is XYZ Company. If Margaret does not die during the 10 years, XYZ Company will not be liable to pay any money to any of the parties involved. Often the owner and the insured are same. That is, a person buys a policy to cover his own death and nominates a beneficiary. Husbands and wives often insure each other in case of death.

What is Term Life Insurance? It is a legal contract with terms and conditions and assumed risks. Sometimes there can be special provisions in the agreement like suicide terms, wherein on suicide of the insured, there is no benefit accrued to the beneficiary. Term Life Insurance is based on two concepts: (1) theory of diminishing responsibility and (2) Buy Term and Invest the Difference (BTID). With Term Life Insurance, the responsibility or liability of the insuring company reduces as the policy reaches its maturity. What makes Term Life Insurance the most cost effective type of insurance available to the public is that there is no cash value at the end of the period. Studies have shown that the mortality rate in Term Life Insurance can be as low as 1%. Hence the concept of BTID.

Rather than going for permanent life insurance (where on the expiry of the agreed period, the owner will accrue some cash benefit and there is a savings component in it) it is considered cheaper to buy term life insurance and take care of the savings components by investing in other areas.

With the present market giving good returns on investments, buying a term life insurance is a more attractive option than permanent life insurance.

Buying life and health insurance products is something that many of us keep putting off for as long as we possibly can. We know that we should buy into these insurance policies but we tend to shelf the idea, preferring to live for today rather than plan for tomorrow. Rather like an ostrich sticking its head in the sand, a lot of us it seems choose to take our chances in the hope that our circumstances will never merit the use of life or health insurance. But it can be an awfully big gamble to take.

Advantages of a life and health insurance policy

As we get older we often become more susceptible to health problems, disability and poor mobility; eventually of course we will all die. Both situations are naturally very distressing for family and dependants. However, the situation can be made worse if the ill / deceased was the main income producer and there are still bills to pay. The last thing anybody wants in this situation is to have the bailiffs knocking at the door, or your home repossessed because you cannot keep up your mortgage repayments.

A life and health insurance policy combines cover for the likely and the inevitable. By opting to take out a life and health insurance policy you and your family will have peace of mind that should you become critically ill or die during the term of the policy, your family and dependants will be financially secure. There will be no worries about bailiffs or repossession orders and through the health insurance side of the policy you’ll be able to select a level of quality health care to suit your needs rather than relying on treatment through the NHS.

Cover provided by a life and health insurance policy

The cover provided by a life and health insurance policy is quite comprehensive. On the life insurance side of the policy you will be able to choose between a term life insurance product and a reducing or decreasing life insurance product.

Term life insurance via the policy pays out a fixed lump sum upon the death of the policyholder, providing the insurance policy is still active. A reducing term life insurance policy is a type of insurance where the amount paid out upon death reduces to zero in line with the policyholder’s mortgage balance, and is suitable only as a financial instrument with which to pay off the mortgage in the event of an early death. If you want to leave your loved ones in complete financial security then a term life option on the policy is recommended.

The health insurance part of the mega insurance policy provides comprehensive health care. It will cover you for all diagnosis, treatment and recovery costs associated with the illnesses, disability and diseases noted on the mega policy. Health insurance also means that you do not have to wait for treatment on the NHS. Instead, you will be able to select when and where you want to receive treatment, so tailoring it to your own convenience.

The price of insurance depends ultimately on the risk the insurer is taking on on behalf of the customer. Simply put, this will depend on the chance of the insured event occurring, and the likely cost of the outcome. The way insurers calculate this risk, and quantify the amount of the premium, is through the use of what is known as actuarial science. Using certain probability and statistical mathematical models, the insurance company can predict with a fair degree of accuracy, the approximate cost of future claims.

For example, supposing a someone wishes to insure their $100,000 home against fire. For argument’s sake, lets assume that 1 in a 1000 homes in this area burn down every year. This would mean that just to break even, on the mathematical model, the insurance company would have to charge $100 a year for the premium. What the insurance company will in fact do is charge something more than $100, say $120. This extra $20 will cover the overhead costs of the insurance company’s operation. It will also cover an amount for profit of the insurance company. The only other way the insurance company generates profits is by investing all the policy premiums it is paid. That way, all the premiums earn interest, or investment returns, while they are in the possession of the insurance company. While this method represents a significant income for the insurance company, the majority of insurance company’s funds do actually come from the payment of premiums.

It has been argued that those who pay premiums and do not have to make a claim lose out by effectively wasting their unused premium. In this sense, the insurance industry can not be held to produce any net gain for society, and therefore, the huge profits they generate are unwarranted. Defenders of insurance companies however claim that the peace of mind they offer to all their customers is a significant societal benefit which they provide. Simply knowing that you will be compensated if disaster strikes you is worth something to people, even if the disaster never strikes.

The funds the insurance company holds, from premiums that have not been claimed for payouts, is called its float. Massive profits can be generated from the float alone. While losses are just as possible as gains with all investments, the profits made from insurance company floats, for the five years ending 2003, was $68.4 billion. In the same period, insurance companies paid out $142.3 billion in insurance claims. Some do not believe that the insurance industry will be able to sustain itself for ever on profits generated by the float and so predict large premium rises for the future.

Insurance provides a way you can protect yourself against unpredictable risks, and therefore it can be very beneficial to you. Accidents, injuries, and old age can deprive you of physical health. Also natural disasters, robberies, or a whole host of different things can cause you to lose your possessions.

Nobody wants to think that unexpected things will happen, but sometimes they do. Insurance is an easy way of protecting yourself against financial losses caused by these problems. With good, comprehensive insurance, you don’t have to worry about the unexpected financial burdens that may be caused by these things.

If you’re just starting to think about insurance coverage, it can all seem a little confusing. There are so many different types of insurance available, and an even bigger variety in the types of policies you can get. The biggest challenge in finding the right insurance policy can be in figuring out what you really need.

A few types of insurance are required by law – if you own a car, for example, the law requires you to have auto insurance. One reason this is important is because if you cause an accident, you are liable for the injury and property damage of other people involved in the accident.

Many other types of insurance, such as life, renters, and travel insurance, are optional. Two common types of insurance are health insurance and home insurance.

Shopping around for insurance is much the same as any other type of shopping. You can compare products and prices, and look at the types of benefits you’re getting for your money. There are a few important things to consider when you’re shopping around for insurance coverage.

First, it’s good to consider whether or not the insurance policy meets your needs. What risks, items, and events does it cover? How much will be paid out if you make a claim – will it be the full cost of the item, or will you get less money as the item depreciates? What isn’t included in the policy? For example, if you insure your home contents, are you covered if you leave the house unlocked?

A second thing to consider is cost – what can you afford, and what will you get for your money? Will you save money with a direct debit payment? Will it cost more to pay monthly than if you pay yearly? Is your premium cost fixed, or is it subject to change?

It’s also very important to look at the flexibility of your policy. What happens if you miss a payment? Does coverage stop immediately, or will you have a “grace” period to give you time to make the payment? Will you receive any money back if you cancel the insurance policy?

Also, if you switch to a new insurer, will you lose coverage for existing problems? This last question is particularly important if you’re considering health insurance, as companies will charge higher premiums if you have an existing health problem.

Finally, remember to review your policy each time you renew it. This can be a very important point since it’s important that your insurance policy continues to meet your needs for as long as you have it.

While most companies seeking venture capital initially think about angel investors and venture capitalists, a large alternative source of financing is federal grants and loans. The two largest federal grant programs are run by the Small Business Administration (SBA), and by Small Business Investment Companies (SBICs).

An SBA loan, regardless of whether it is a direct loan from the SBA, or, as is more common, a bank loan guaranteed by the SBA, is essentially a bank loan. The benefit of it versus a traditional bank loan is the rate. SBA rates are typically much less than traditional business loan rates.

In most cases, in a guaranteed SBA bank loan, the SBA guarantees 90 percent of the loan will be repaid to the bank. As such, banks are at much less risk than in most other loans, and are a bit more flexible with regards to who they offer these loans. However, the SBA usually requires the founders of the company to personally guarantee the loans, which makes them risky should the venture collapse.

Alternatively, Small Business Investment Companies (SBICs) are privately organized corporations that are licensed and regulated by the SBA. Small or emerging businesses which qualify for assistance from the SBIC program can receive equity capital and/or long-term loans from these companies. Essentially, these companies provide their own capital, which is supplemented by federal funds, to the companies they fund.

Interestingly, U.S. taxpayers benefits from the SBIC program as tax revenues generated from successful SBIC investments have more than covered the cost of the program. Likewise the program has created hundreds of thousands of jobs.

In summary, SBA and SBIC financing are viable alternatives to financing from angel investors and venture capitalists and should be considered in the capital raising process. Similarly to angel and VC financing, companies seeking SBA and SBIC financing need a strong management team and value proposition, and a highly professional and compelling business plan in order to raise the capital they need.

Copyright 2006 Stephanie Graham

For many mortgage professionals, frequent travel is a way of life. A big concern of frequent travelers is how to remain productive without access to the normal resources. Sometimes, that first trip leaves you feeling like a fish out of water. Especially if you didn’t anticipate your customer’s needs. But with each new journey, you will learn more ways to function efficiently. With a little planning, you can make your time away transparent to those you communicate with daily. Here are a few tips to make it happen:

1. Make a list of the things that need to be accomplished before your departure. Rate locks, file submissions, or any other critical appointments should be handled before you leave.

2. Contact processors, loan officers, underwriters, and other individuals to let them know you’ll have limited availability from _____ to _______.

3. Sign-up for an e-fax or other electronic fax service that will allow you to view, send, and receive faxes over the Internet. This will allow you to function just as if you were in the office.  4. Make a resource list for the things you will need to do while away. Include phone and fax numbers, website addresses, access codes, and passwords. Store this data on your pc, phone, or both.

5. Make a copy or scan an image of documents you may wish to reference while away. This will allow you to stay on top of the most important issues.

6. Save important letters, forms, and files to a jump drive, a CD, or e-mail them to yourself so that you can access them as needed. Convert documents that you would normally fax to a PDF format so they can be e-mailed but not altered.

7. Check the quality of your cell and laptop batteries. Get new ones if you will be without access to electricity to recharge for long periods of time. Be sure to pack your chargers as well.

8. Add a wireless card to your laptop if it does not have one already. Although your hotel may have their own Internet café, these rooms are sometimes crowded or have limited hours of availability. If the hotel charges for linking to their wireless network, if may be cheaper to purchase a wireless connection card through your cellular service provider.

9. Pack an Ethernet cord and a phone cord. This will allow you to get online no matter what type of connectivity your hotel has. You can log on to AOL or some other network.

10. Take a phone card as a backup. It may come in handy in areas where your cell phone signal drops. Used in conjunction with a cell phone, you can eliminate hotel phone charges altogether.

11. Pack pain reliever, antacid, and cold medicine just in case. If you have to buy these things on the road, they’ll cost double what they normally do.

12. Download audio files to an Ipod, mp3, or CD. Music or motivational audios may be just what you need to balance your day. You can also listen to a replay of a training session.

13. During your trip, incorporate as many of your normal activities as possible. Continue to exercise. Drink plenty of water and eat right. Take your vitamins. Keep in contact with family and friends. Let them know what time to call you.

14. Plan your day before going to your daily meeting, training, or appointment. This will allow you to make the most of breaks, lunches, or other dead time.

15. Make use of the special features on your phone. Text messaging and Internet access can be a lifesaver when you’re on the road.

16. Get the scoop on your hotel’s amenities in advance. The last thing you want is to have trouble connecting with your customers and your team because of limited resources. Go online to the hotel’s corporate website for a virtual tour. You might also check out ratings and feedback on Hotels.com. Ask lots of questions.

17. Take along a healthy snack and a bottle of water or two. If you experience a flight delay or get stuck in rush hour traffic, you won’t be bothered by hunger or thirst.

18. Pack as light as possible. Pulling heavy luggage plus a laptop through the airport is no joke. Choose a jacket that will get you through the week. Bring a pair of dress shoes that go with everything and a pair of sneakers or sandals for down time. Your feet will thank you. Switch up your shirt/blouse with a basic pair of pants/skirt. Take travel size toiletries instead of full size ones to make more room in you luggage. And for the ladies: leave some of your hair artillery, fragrances, and makeup at home. This stuff alone can take up a full piece of luggage. You’ll look just as good with the bare essentials.

19. Initiate contact with your customers and team members early in the day while you’re away. This will allow you to deal with challenges or concerns at a time when it is convenient for you. Otherwise, you may find yourself bombarded with phone calls and emergencies that could have been avoided had you made contact earlier.

20. Be realistic. There is no way that everything is going to be perfect when you’re away. If it were, then no one would need you in the first place. Take care of the biggest priorities. Give training and guidance before you leave and then delegate as many projects as you can. Make a plan to take care of other things within the first few days of your return.

When you plan your business trip well, you will feel far less pressure and frustration. It allows you to focus on the real purpose of your trip. You might even have the opportunity to get the rest and relaxation you find difficult to squeeze in at home. So, don’t fret about your next trip. Think more about how it will enhance your business and rejuvenate your mind and body.  Happy traveling!

What is ‘Credit card debt consolidation’?

‘Credit card debt consolidation’ is a phrase that you must have come across many times. There are hundreds of sites with advice on credit card debt consolidation. Every now and then your favourite newspaper will also contain an article or advise on credit card debt consolidation. TV channels host discussions on credit card debt consolidation. Moreover, there are numerous consultants and companies that provide professional advice on credit card debt consolidation. So what is this “Credit card debt consolidation” that everyone is talking about? Why is it such an important topic?

“Credit card debt consolidation” refers to consolidation of the debt on various credit cards into a single credit card (or a couple of credit cards). Generally, you move from a higher APR credit card to a lower APR one. You might ask ‘why?’ If you look into how the vicious circle of credit card debt works, you will immediately understand the logic behind that. Credit card debt grows in 2 ways. One is due to addition of new debt on account of fresh spends on your credit card and the second is due to addition of interest charges to the existing credit card debt. The first one is due to your use of credit card but the second one is due to interest charges which are calculated on the basis of the interest rate or the APR applicable to your credit card. So a lower APR rate means that your credit card debt will grow at a slower pace and hence switching over to a card with lower APR makes perfect sense.

The process of credit card debt consolidation is also referred to as balance transfer process (you transfer the balance or debt from one credit card to another).The credit card debt consolidation (or balance transfer) offers are made even more attractive by the credit card suppliers by associating various benefits with them. The simple logic behind offering these benefits is the fact that such a customer would be defecting from one of their competitors. The biggest benefit offered by these credit card suppliers is 0% interest on balance transfers (or credit card debt consolidation). This 0% APR is generally applicable for a short period of time i.e. 3-6 months, after which the standard APR is applicable. Other credit card debt consolidation offers include things like interest free purchase for a short period, reward points, etc. These credit card debt consolidation offers make the exercise of credit card debt consolidation even more logical and meaningful.

Credit card debt consolidation seems to be a good way of tackling the problem of credit card debt and that is the reason why there is so much of discussion on the topic of Credit card debt consolidation.

Skiing originated thousands of years ago with Norwegian hunters and  travelers. Since then, skiing has branched into several different styles and techniques. To access the 10th Mountain Division Huts, we use a backcountry ski modeled after traditional cross-country skis. Over the years, the backcountry ski has evolved into a cross between an alpine and nordic ski. These specially designed skis provide added stability, good turning qualities and are capable of responding to a variety of terrain and snow conditions in the backcountry. A cable binding is most often used with a sturdy leather or plastic boot. The boot has been designed to provide stability and warmth while remaining flexible enough for touring. Depending on the terrain, either cross country ski waxes or climbing skins are used to effectively travel through the backcountry.

Backcountry skiing skills begin with trail and downhill skiing technique. This includes being able to perform a strong snowplow to control speed and step turns for changing direction. Mid-winter powder and spring cornsnow offer great skiing possibilities. Although the telemark turn is not a necessary skill, it provides a wonderful addition to winter cross-country touring and is instructed at all levels. Alpine Touring gear is becoming increasingly popular and works well for many backcountry skiers.

Are your organizations or fabric looking for best waste solvent recovery solution? If the answer is yes, you have come to the right place. This article will introduce Nexgenenviro.com. This site has high performance solvent recovery system which is necessary for use in fabrication, manufacturing, and production locations. They have more than 8,000 customers from all branches of contractors, all disciplines of manufacturing and government agencies who trust their solvent distillers and cleaning systems.

Nexgen Solvent Recovery is available in variety of capacities. Solvent Recovery System from NexGen allows you to drastically reduce the cost of purchasing and disposal. You can minimize or eliminates the impact of harmful material on human resources and surrounding community. Their Solvent recovery system using the ideal and latest technology for reuse and recovery of waste solvents from varied industrial applications like part cleaning, printing, paint cleanup, so on.

If you have good and clean environment, your organization or manufacturing will get the good environmental impact later. This system really can save your money, time, and energy. Well, as information, many manufacturing find that the using Waste Recovery System is very good on their investment. If you want to know more you can visit the official site.

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