Benefits of Getting a Life Insurance Policy

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If you are a primary breadwinner of your family, then your focus would obviously be on safeguarding your family’s future. Investing in a life insurance policy will secure the finances of your family even while you are not around. Choosing a policy smartly will ensure financial cover not just for you but also for your loved ones. 

  • Loans over policies are exempted from tax payments
  • Are flexible in terms of adjustment of policyholders need
  • Cash values grow tax-free during the insured lifetime
  • Some policies have a cash value that accrues over time and can be utilized for paying premiums later
  • Low monthly premiums to be paid over a policy
  • These policies offer major tax benefits in comparison to any other investment options
  • Ensures fund flow while dealing with adverse financial situations
  • It can be bundled with other kinds of insurance covers such as disability ones  

Different kinds of life insurance policies

Life insurance can be categorized into three main types.

  • Term Insurance

This plan offers life cover for offering protection to loved ones at the most affordable rates possible. This is one of the simplest policies available. It promises financial security to your loved ones in your absence.    

  • ULIP

Unit linked insurance plans combine financial investment with life insurance. These offer a wide range of portfolio strategies and fund options. It also permits you to withdraw the money on a periodic basis from your policy.

  • Endowment Plan

These are traditional savings plans and are not linked to any stock market. Hence, these carry a lower risk. These plans offer bonuses such as terminal bonuses and a reversionary bonus.

  • Savings Plan

These plans combine investment with a life insurance cover. You can also create a corpus for meeting the financial goals of your life at different stages. Most of the savings plans offer a fixed amount as maturity once the policy terminates. Moreover, there are specific plans that help you devise a regular stream of income throughout the duration of the policy. 

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Advantages of choosing a Life Insurance cover

Life insurance covers the financial gaps that exist in the lives of individuals. It can take care of your financial needs at various stages of life. You just need to choose a plan as per your requirements to start reaping the benefits offered by a cover. Click to understand how these plans work.  There are numerous benefits of investing in a life insurance cover.

  • Financial security

Insuring yourself offers complete peace of mind to an individual. This cover proffers financial security to the loved ones of the policy owner even after their death. An adequate cover can ensure that your loved ones would be taken care of in case of your death. You can keep policies for up to the age of 120 as long as you are paying the premiums. You don’t lose the coverage under the permanent life insurance term. 

  • Wealth creation

Some insurance plans provide an opportunity for generating wealth. These policies invest your premium into different classes of investment for delivering superior returns. You are promised tax-deferred growth by investing in life insurance. This implies that you don’t have to pay any tax on capital gains, dividends, and interest on the cash value component of your policy until you withdraw the proceeds.     

  • Significant tax savings

These smart plans promise dual tax benefits. The premiums offer tax deductions based on the prevalent laws. Follow this link to learn why entrepreneurs need to invest in a life insurance policy: https://bit.ly/386biLV. Instead of neglecting an insurance plan, individuals can benefit tremendously by not just creating wealth but also in the form of tax savings.

  • Borrowings against the cash value

If you are looking for money to pay for college or to buy a home, you can choose to borrow against the cash value of a permanent life insurance policy. Also, if you put money in a retirement plan, you can take it out for other purposes other than retirement. However, you may have to pay penalties depending upon the policy terms. Some retirement plans are not flexible and do not allow you to take money out. 

  • Accelerated benefits if you fall ill

You will be offered anywhere between 25-100 percent of the benefit of your cover if you develop any conditions such as cancer, stroke, heart attack, or renal failure. The terms are again dependent on the kind of policy that you choose. These benefits will help you pay your medical bills and enjoy a better quality of life.

The only drawback of claiming money for your treatment is that your beneficiaries would not be able to receive sufficient coverage after your death. 

  • Cheap enough to fit into any budget

Based on the coverage you choose, you may be paying a nominal amount per month as a premium towards your policy. If you don’t have any dependents, then you would not have to save a lot of money for your beneficiaries. You can invest in a cheap life insurance plan to secure your family’s future. Doing so also translates into lower premiums.

A term life insurance would cover most of your expenses such as business partnership, expenses of children, and mortgage payments. If you invest in a policy early enough, then you can save a lot of money than you would do by buying this coverage later in life. In short, you simply pay for whatever the need of your family is. 

In summary

A life insurance policy can be immensely beneficial if you know when to invest and what kind of policy you need to invest in. You can go through the different options available to decide which one would be the best fit for your requirements. Various tools are offered by several policy providers so that individuals can make an investment based on what they are looking for. 

Shoebacca Response to Covid Health Crises for Medical Professionals

THE HEALTH CRISIS AROUND THE WORLD AFFECTS US ALL ENTIRELY. AS THE MEDICAL COMMUNITY DEVOTES THEMSELVES TO THE CRISIS, WE WANTED TO HELP IN ANY WAY THAT WE CAN.

Doctors and nurses continue to be selfless, sleeping in hospitals to protect their families while working diligently to help the sick community.

WITH SO MUCH TIME SPENT ON THEIR FEET, WE WANT TO HELP THEM START THEIR DAYS OFF WITH A FRESH PAIR OF SOCKS.

Shoebacca is contributing by sending brand new socks to the hardworking doctors and nurses both locally and across the country.

Beginning on 3/27, with every pair of shoes purchased on Shoebacca.com, a pair of Asics performance socks will be donated under the customer’s name. In turn, Shoebacca will double the donation by matching it with a second pair of socks!

Sock donations will be sent to hospitals every week, and Shoebacca will update their page to show where each donation has been sent. Tag a nurse, doctor, or other healthcare professional on Instagram or Facebook with #shoebaccagivesback so they can send some fresh socks their way!

Click here for updates on your donation: https://www.shoebacca.com/socks-for-first-responders

5 Ways to Exercise During Quarantine

When you are stuck at home during the pandemic, one of your main concerns may be exercise. Not only is exercise important for your physical health it is also important for your mental health. All individuals are encouraged to work out during this tough time for self care. Given that you are not allowed to go to public places and are essentially stuck in your home than you may need to think outside of the box. Below we will explore some ideas to help you get your exercise fix during quarantine!  

Bike

Having to be 6 feet away from others does not allow you to go to a gym, but you are able to go outside to do your exercise. The fresh air environment is safe for all, and outdoor sports and activities can be practiced responsibly. One activity that is popular with my family is bike riding. Riding bikes allows you to venture out and about while still being active. There are many hybrid bikes for sale that can fit the need for any type of person. Hybrids are good for both trail riding and road biking so you get the best of both worlds to be able to choose which method you prefer each time. Biking is great for all ages as well, bikes for older adults can make things fun and get the heart pumping. Now is a great time to teach your child to bike too!

Walking and Hiking

Besides biking there is walking and hiking. You can walk on your street through the neighborhood or find a local trail that is still open to enjoy the wilderness. Some trails are closed to deter people from being around others but the majority of trails and parks can still be used for exercise use.

Outdoor Sports

Kids really enjoy at home sports like backyard baseball, soccer, running and golf. Take the time to do it with your kids or even teach them a new sport! This will allow you to exercise as well as the kids, benefits everyone involved!

Zoom

Many gyms and fitness studios have gone virtual out of necessity. This means that they are offering online classes that are either streaming or posting videos on youtube. Classes that don’t require equipment like yoga, zumba, dance or pilates are more popular than ever. Some do require fitness equipment however, and may require you to purchase new toys. Stationary bikes are an example of this. With zoom calls you can do live conferencing for any of your needs. A fitness instructor can send out a link to their call and have others join them for their workout. 

Youtube

Besides virtual calls or streaming, you may be able to find youtube videos to help you exercise. Instructors may post instructional videos or recordings of their live classes. With youtube you can typically find free videos so this method can be done on any budget.

Even though the pandemic can be daunting and the quarantine life may have you stressed, there are still options available for you to exercise and have a little self care.

Can You Practice Green Investing as a Currency Trader?

As a Forex trader, your goal is to make money off of exchange rates and different types of money-related markets. For many people, not only do they want to be able to make returns off of this particular endeavor, but they want to take a green approach to their work as well. Understanding how to correlate your eco-friendly goals with your Forex transactions is an important part of building your portfolio.

What is Green Investing?

Green investing simply means that you have a focus on companies that either support or provide eco-friendly and sustainable services. For example, the company might base itself in organic farming, or it might be a company that has taken hundreds of measures to reduce their impact on the local environment. Another great example of green investing is choosing to buy stock in a solar panel manufacturer or an electric hybrid car company. It may take a bit of research on your part to figure out which companies and areas are practicing these environmentally-friendly methods so that you can make smarter decisions.

Is It Possible with Forex?

As a Forex exchanger, your goal is to buy and sell currency as it changes in value. This is one of the most popular options available, and it is why so many people have gotten involved in the monetary market to date. Rather than purchasing individual stocks, online Forex trading can be done as a way to avoid severe fluctuations in the market on any given day. If you’d like to become a green investor, this is definitely possible when dealing with monetary markets. It simply takes a bit of research to figure out which currencies to buy and trade that align with your goals.

How Can It Be Done?

There are several ways for you to take your love for the environment and blend it into your Forex trading. First, you’ll want to buy, sell or exchange currencies that are specific to countries that are more environmentally-friendly. These countries may be adopting sustainable practices, so you’ll be supporting their efforts by investing into their currency. Likewise, you can take the funds that you make off of your investments to put back into eco-friendly companies and sustainable manufacturers.

What You Need to Get Started

The first step is to find a Forex platform that works for you. Before choosing the company you’ll be using to do your trading, it’s a smart idea to see what efforts they are taking to lower their impact on the environment. Choosing an eco-friendlier platform will help you to achieve your goals of becoming a green investor. You will then need to create a portfolio for yourself to get started. Your next step is to buy and exchange currencies in order to start seeing a monetary return. While actively working, it’s a smart idea to continue to familiarize yourself with different currencies and countries. This will allow you to avoid investing in countries that are not practicing environmental conservation so that you can focus all of your efforts on ones that do.

The Right Steps towards Financial Stability

The narrative from the start of kindergarten was, “Get good grades and life will be OK.” Life may, however, throw a couple of curveballs that school didn’t quite prepare you for. Sure, you might land that dream job, but there’s stuff like student debt, mortgages, and general everyday expenses to cater to. All of a sudden, your goal of financial stability starts to seem like a pipe dream. 

Fortunately, there’s a silver lining to the situation. Achieving financial stability is, well, achievable. By following the steps below, you can set yourself on the path towards less debt and, ultimately, financial stability.

Clear High-Interest Debt

High-interest debt may be defined as any amount of debt that accrues an annual interest rate of 7.5 percent or higher. Nowadays, the most common type of high-interest debt is credit card debt, which carries on average, a 17 percent interest rate. In the U.S, the average household has $15,956 in credit card debt, making it a considerable burden. 

The only way to get around the issue of credit card debt is to start paying it off. Commit a certain amount of extra cash each month to cater to the highest interest rate cards then continue paying the minimum on the remaining cards. As you do so, remember to cut out using your cards. If you must use a credit card, then request for a lower interest card from your card company.

Invest for When You Retire

As distant as it may seem, there will come a day when you’ll have to bid farewell to the working world. If your employer offers a 401(k), then good for you. If not, then consider opening an Individual Retirement Fund (IRA). Putting some cash aside for when you retire is one of the smartest moves you’ll ever make, and the earlier you start, the better.

Establish a Buffer

The idea behind establishing a buffer is to have enough money in your checking account that amounts to two weeks’ pay. This amount is one average between $500 and $800. When putting aside this amount, picture it as untouchable and never allow your account balance to fall below it. Building this buffer not only saves you from expensive overdraft fees but also gives you a nice cash cushion. 

Put Something Aside for Emergencies 

The best way to stay ready for life’s nasty surprises is to come up with an emergency fund. The ideal place to store such a fund is in a high-yielding savings account insured by the Federal Deposit Insurance Corporation (FDIC). The major pro of these types of accounts is that they pay rates that are 20 times as much as your local bank. Remember to keep your emergency fund separate from your main bank account to avoid the temptation of needless withdrawals.    

Get an Extra Source of Income

Your 9-to-5 might be a sufficient source of income, but since your aim is financial stability, you might want to look to some extra income streams. Consider selling your services on a third-party site, starting a blog, or even selling stuff online. You could also pick up an extra shift if your schedule allows. 

Financial stability might sound like something reserved for the rich, but it is achievable. With the right steps, you’ll manage to get there. If you are looking for a solution-based partner to help you achieve your dream of financial stability, consider Alleviate Financial for advice on how to ease your financial debt stress.

5 Eco-Friendly Camping Tips For A Greener Trip

Camping in the great outdoors is one of life’s great joys. However, if campers aren’t conscientious and considerate about how they use the space available to them, camping can be terrible for the environment. Here are five ways of making your camping trip much greener.

Come Prepared For Litter

No matter how conscientious you are, and any camping trip is going to generate a certain amount of litter. If you are looking to reduce your impact on the local environment, ensuring that you are prepared to take all your rubbish home with you is essential. In fact, if at all possible, you should separate out your recyclable materials from the rest of your rubbish, so you can recycle them at the earliest opportunity.

Bring Your Own Water Filters

Instead of buying single-use disposable plastic bottles of water, it is much better to bring your own filters with you so you can utilize local water sources without having to worry about contaminants. Drinking water that you collect from the wild might not sound very appealing, but with a proper filtration system on your side, you can remove any harmful contaminants from the water.

Without camping water treatments, you are left with no option but to buy water off-the-shelf, or refill a reusable bottle. Neither option is ideal from a health or environmental perspective. Using a water filter will keep you safe and reduce your environmental footprint.

Think About Your Travel Arrangements

If you are serious about minimizing your environmental impact when going on a camping trip, you can begin before you have even set off. The method of transport that you choose to get you to your destination will affect your final footprint. If you are going to be camping as part of a larger group, try to organize some form of shared transport. It might not be possible to load up all your campers and their gear into a single car, but you can always turn to public transport if necessary or rent a vehicle.

Avoid Disposable Items

We all need to be moving away from disposable and single-use products wherever possible. Single-use products are terrible for the environment, they are contributing to an ongoing build-up of materials that are not biodegradable and which are causing serious problems for our planet. Wherever there are reusable and sustainable alternatives to disposable products, you should always lean towards the more sustainable option.

Look For Non-Toxic Sunscreen

This is something that people regularly overlook when they are looking for ways of reducing the carbon footprint of their camping trip. In terms of damage to the environment, you might not think that the sunscreen you choose to put on your skin would make much difference, but any chemicals that you are spraying around the area where you are camping can ultimately make their way into the local ecosystem.

There are now plenty of non-toxic and organic alternatives to common artificial products. You can find plenty of sunscreens that are made from all-natural ingredients and eschew anything harmful or artificial.

Got any more great tips?

Top Kitchen Gadgets and Small Appliances worth Purchasing

The kitchen is easily one of the most used rooms in the entire house. It is where people prepare food, cook, and eat together as well as socialize, and catch up on their day. Kids may do their homework around the table and it’s perfect for entertaining. With that said, it’s a room where splurges on gadgets and small appliances can be well worth it.

If you’re looking to boost the functionality of your kitchen and just create a more inviting and productive space, these items are a must-buy.

Espresso Machine

Coffee is a big part of many peoples’ days, especially in the morning when it can give you that jolt you need to wake up and start your day afresh. But what about being able to create your own coffee bar at home where you can enjoy fresh-brewed espresso on-demand? That’s exactly what an espresso machine can offer. Choose from simple and cost-effective models, or go ahead and splurge and get one with all the bells and whistles.

Under-Sink Water Filtration System

Another gadget well worth the investment, especially for families, is an under-sink water filtration system. With this type of system, you’ll be able to drink water straight from the faucet and know it’s pure and free of any contaminants.

You won’t need to worry about buying plastic water bottles, which as many know are horrible for the environment. There is no such thing as running out of clean, fresh water and everyone in the family can make use of it. You can fill up your environmentally-friendly re-fillable water bottles straight from the faucet. Of course, as the Discount Filter Store stresses to its clients, the key with these systems is to ensure you’re changing the filter on the recommended schedule. This will ensure it’s doing its job effectively.

Wine Fridge

For those who enjoy wine, there is no better way to store it and preserve its integrity than with a wine fridge. Look for one that allows for different temperature zones so that you can store red, white, and rose at its specified optimal temperature. With today’s models, you’ll find everything from small counter-top wine fridges to larger ones that you can install under the counter or another place in the kitchen.

Counter-Top Oven

If you find yourself preparing small meals meant for one or two people, and really hate to turn on the big oven each time you want to cook then it could be worth it to invest in a small counter-top toaster oven. Today, you can even find counter-top convection ovens that offer all the same functionality of a full-sized oven. They use less energy, cook quickly, and are perfect for those times when you aren’t preparing huge meals. Even baking can be done in some of the models.

Deck-Out Your Kitchen

No matter which of these gadgets/appliances you pick up, you’ll be able to amp up the functionality and style of your kitchen. The only question left is how can you pick just one of these items on the list?