3 Things to Consider Before Taking Out Life Insurance

One of the most important decisions you can ever make is to take out life insurance. It will protect the people you will eventually leave behind, and it can also help far before then. However, you may not know exactly what you need in a life insurance policy.

There is a plethora of things to consider when taking out life insurance, but we have compiled the three most necessary. These three things to consider before taking out life insurance will be able to help you with your important decision.

How long do you need coverage?

You can decide to take out life insurance for a certain period of time, or a lifetime, depending on your needs. When you’re deciding on how long you need life insurance, there are a few things you need to consider:

  • Why you’re purchasing the policy in the first place
  • If you’ve just had a child
  • If you’ve recently bought a house
  • What you will receive
  • What your family will receive

For example, if you have just had a little one join your family, you would likely go for a policy that covers you until they’re no longer financially dependent on you. That can range anywhere from 20-30 years if you plan to cover their college/graduate tuition. Then, it is much the same if you’ve just purchased a house.

Owners of a new home may want to consider looking at a 30-year policy because that is how long your mortgage usually is. If you only have a 20-year mortgage, it is also a good idea to go for a 30-year coverage just in case of refinancing or circumstances changing.

A beneficiary

Firstly, let’s understand what a beneficiary actually is. A beneficiary is someone who receives the proceeds from your life insurance policy. However, there are a few things to remember when you’re naming your beneficiaries, here are some options:

  • Choose one or multiple people
  • The trustee of a trust that you have set up
  • A charity or not-for-profit organization
  • A minor (be careful as sometimes they cannot receive funds)
  • Your estate (be careful as this may have tax implications

Because you are the one giving your assets away, you are named as the benefactor. This means, that with you in charge, you can decide on the who, what, when, where, and why of the assets you’re giving away. You need to make sure that you remain very specific about who receives it for the sake of your family and your wishes. It is also a great idea to consider no exam life insurance.

Insurance costs

There are plenty of costs associated with life insurance, but the cost you will pay greatly depends on several factors including:

  • Your age when you start your policy
  • Your health when you start your policy
  • Policy features (how long payments must continue)
  • The level of cover that is chosen
  • The type of cover that is chosen

In plenty of cases, a life insurance policy will actually cost less per month than what you pay for all of your streaming subscriptions.

4 Benefits of Leveraging an Alumni Network to Grow Your Business

Corporate alumni networks are one of the top reservoirs with a higher potential for business growth. Unlimited number of people have secured jobs through people they know, with several studies showing that about 60-80% of the job roles are earned through professional connections. Despite such networks being cost-effective and easy to build, they remain largely untapped. Your success in any alumni network depends on your understanding of the network-specific mechanics and the involved law of attraction.

So, can you leverage an alumni network for your business’s growth? Read on to find out the importance of a strong alumni network to your business.

4 Reasons Why an Alumni Network Matters to Your Business

When most people hear of alumni networks, they think about job connections. While this is one of the main benefits, a strong alumni network is beneficial to the businesspeople as well. Let’s look at some of the reasons why an alumni network should matter to you as a business owner.

  1. Guarantees a Robust Talent Pool

Any business can benefit immensely from a strong talent pool, there’s no doubt about that. Take the example of ex-PayPal employees; they make the who’s who of Silicon Valley. The PayPal alumni network comprises senior managers and founders of innovative brands like Tesla, YouTube, and LinkedIn.

Members of an alumni network can offer resources, energy, and time in support of one of their own and this can be beneficial to your business if you are a member of such a network. For instance, in such networks, the members share updates on current roles, business opportunities, as well as projects they are working on. Therefore, you can expand your organization’s talent pipeline by ensuring that your employees are active in their alma mater.

  1. They Represent Your Brand

If you are the likes that do not keep in touch with ex-staff, you need to rethink about it. The fact that an employee left doesn’t make them an enemy. In fact, remaining in touch with such employees can grow your employee value proposition. Sharing the same sentiments, Reid Hoffman, the CEO of LinkedIn pointed out that ex-employees possess a high level of credibility compared to current employees, especially when they recommend your products or support your brand on social media platforms.

  1. Assists in Securing New Clients

One of the significance of being in a strong alumni network platform is the trust it builds. You will find it easier to secure new clients through a member of your alumni than doing it all by yourself. From a marketing angle, your alumni members are a great resource in your business because they build trust between your brand and clients easily. Therefore, keep such networks active and your business will get new referrals more often.

  1. Help You Rehire Quality Ex-employees

Rehiring outstanding ex-employees is considered a great business practice. In such a case, you save a lot in terms of costs and time compared to having to recruit someone fresh who doesn’t know your business processes.

There is a high tendency for companies to rehire an ex-employee because of the benefits that boomerang employees bring to the organization. For instance, such employees have highly diverse work experience, understand your company’s operations, and are probably more productive compared to the brand-new hires.

Nurture a Strong Alumni Network to Grow Your Business

Even with all these benefits, a large number of business owners are yet to take advantage of corporate alumni networks. If you have not encouraged your employees to participate in their alumni networks or if you are not a member of one, start today. It will come in handy for your business’s growth on matters of talent, clients, brand reorientation, and rehiring quality staff among other aspects.

What Is Burial Insurance? A Guide on the Key Things to Know

Funerals can be expensive, and so often we aren’t in a position to plan for them. Funeral costs vary depending on where you live and what arrangements are made. But the average casket cost is about $2,000 today and can run well over $10,000.

This can be a huge burden to your loved ones. To help alleviate this constraint, many people are turning to burial insurance. Continue reading to find out what is burial insurance, how it works, and how it might help you.

What Is Burial Insurance?

Burial insurance is also known as “final expense insurance.” It is essentially a whole life insurance policy that can be used for almost anything.

The insured pays a monthly or annual premium, which is based on their age, general health, and the amount of the policy. Typical payouts range from a few thousand dollars to upwards of $25,000.

Burial insurance policies are available for purchase through most life insurance agents. Some funeral homes offer them as well. Anyone can purchase them, but it is a particularly attractive option for people who want peace of mind following a health scare, such as after a heart attack.

Advantages of Burial Insurance

There are a number of advantages to having burial insurance. These include:

  • Financial peace of mind
  • Planning for the unexpected
  • Flexibility and ease of purchase

Financial Peace of Mind

Funeral prices continue to rise across the board. Even the most basic funeral can be expensive. The cost of embalming, memorial services, headstones, funeral plots, flowers, and wreaths can all start to add up.

Cremation can save on embalming and casket costs. And even mushroom burial suits are becoming popular, for economic and environmental reasons. But these alternatives to traditional burial are not without expenses. The jumping-off point for mushroom suits is $1,500, and urns can be quite costly as well.

Regardless of what arrangements you wish for your funeral, burial insurance makes sure that all of these expenses are taken care of.

Planning for the Unexpected

Covering costs is not the only advantage of burial insurance. Most people don’t like thinking about their funeral. And, for this reason, this can make it difficult to plan for. This is even moreso the case if it is an unexpected death.

The point is that a funeral is not a time conducive to loved ones “shopping around” and finding the best deals on arrangments. The ones we leave behind will be in a sorrowful emotional state. It is a time to grieve, not worry to worry about finances.

Having an influx of funds to cover expenses can help this time go more smoothly for them. It is one less thing they have to worry about.

Ease of Purchase and Flexibility

One of the biggest advantages of burial insurance is that it is easy to get. Unlike many life insurance plans that require in-depth medical examinations, burial insurance usually only requires the insured to answer a few simple health-related questions.

Also, unlike other savings mechanisms that require payouts to be used for specific things, beneficiaries of burial insurance plans can use the money however they like.

Find a Plan Today

Don’t risk waiting to finalize how your funeral expenses will be paid. You can plan for it today by purchasing a burial insurance plan that will cover these costs, whether they are far down the road or tomorrow. It will give you the peace of mind to know that your loved ones will be taken care of in their time of grief.

We hope that this information has been useful. In addition to exploring topics like “What is burial insurance?” our blog covers a wide variety of lifestyle topics, including travel, food, and fashion. Be sure to check them out.

Alternative Ways to Invest in Bitcoin

Bitcoins, like other cryptocurrencies, are digital assets that work as a medium of exchange just like money, except they are all online. Sure, money can be online but bitcoin and other cryptos are far less tangible, and there is no actual underlying material asset. There is no promise to pay the barer x amount of money, and there is nothing physical at all about the asset. This did not stop Bitcoin from absolutely taking the world by storm in 2016, and being hailed by some of the most prominent futurists as one of the biggest technological developments over recent times.

Why Bitcoin?

Some of the key attractions to the asset class come from its elusive nature, but the currency is also almost anonymous, which people like. The asset is also completely unpegged to any national bank, so it is independent of basically any big corporation’s movements. As they are not currently in wide use, any investment is basically made on hype alone, or on the expectation that they will become in wide use. 

This investment will go into an online bitcoin wallet, where your bitcoin is held. As there is a limit to the amount of bitcoin in circulation, when/if it comes to be widely used, the expectation is that the price will increase drastically. It is for these reasons that it is one of the hottest asset classes in the last few years, and has received very substantial investment from all over the world. You may be asking how you can get involved in such an elusive concept, as it is not like buying stocks for example, but in truth, a lot has changed in the past few years, and the market has really opened up to almost anyone.   

Investment Through Apple Pay and Other Modes of Payment

Yes, you saw that right, you can buy bitcoin with ApplePay. Popular companies that are heavily involved in making bitcoin accessible have created one of these easiest ways to invest and will do all of the holding on their end and only charge you a one-off transaction fee for each transaction you make. Paxful allows you to buy bitcoin with ApplePay, and will also give you a medium to securely hold and sell this bitcoin just as easily as it was to purchase it. This is about as easy as it gets when it comes to investing; simply set the amount you would like to invest and pay with your thumbprint. 

Tracking Your Investment

There are many sites to check the price of bitcoin; however, a simple Google search will bring you up to date with the most recent price changes, as well as a comprehensive review of where the prices have been going over the past few weeks, months, or even years. This allows you to make projections, and set yourself targets of where you want your investment to go

Investing in bitcoin is not as stable and secure as doing so on the stock market, but it has seen some incredible growth over recent years. You should be sure to check it out as many people genuinely believe it to be the future global asset.



What Is the Average Cost of Family Health Insurance

Did you know that around 44 million Americans do not have health insurance? The reason that so many people take a chance with their health insurance is for financial reasons. If you are wondering “what is the average cost of family health insurance?” we have the perfect article for you below.

Keep reading to learn more about costs and some tips and tricks to help you find the best rates out there.

What Is the Average Cost of Family Health Insurance?

In 2018 the average cost per month for family health insurance was $1,168.00. The costs can vary based on family size, the states you live in, and how much coverage you opt for. Understanding the cost of the different plans means that you have to know what to expect when it comes to the deductibles and co-payments.

The deductible is how much money you will have to pay before your health insurance provider begins to pay for your coverage. The higher your deductible the lower your monthly premiums will usually be. Keep in mind that with some family plans you will probably have two deductibles (an individual deductible and a family deductible).

Copayments and Coinsurance

Another cost to take into consideration is your copayment. This is a fixed amount that you will pay every time you receive a service at either a hospital or a doctor’s office. The copayment might come into effect before or after you reach your deductible.

A coinsurance is a percentage that you will pay for covered services once you reach your deductible. You will more than likely pay coinsurance until you reach your out of pocket max.

Government Assitance

If your household income is not very high then you might qualify for government assistant to afford health coverage for you and your family. There is a Children’s Health Insurance Program (CHIP) that provides inexpensive or free health insurance to families with children that do not make enough money per month.

For families that make less than $99,000 annually, they might also qualify for some federal assistance or state programs to make health insurance affordable.

With Obamacare or the Affordable Care Act (ACA), there are tax credits for those that make a certain percentage of the federal poverty line and can’t afford to pay for health coverage. The lower your income and the larger your family size, the larger the subsidies you receive.

Ready to Shop Around for Health Insurance?

Now that you are more familiar with the average cost of family health insurance, you can start the research process in your area. This is the time to gather your options and see if you qualify for any government help. Even though the tax penalty for not having insurance was removed in 2019, you still do not want to go without it.

Did our blog post help you out today? Please feel free to browse around the rest of this section for some more helpful reads.

Common Mistakes to Avoid when Buying Business Life Insurance

Life insurance offers a diverse range of benefits, whether you apply when young or aged. Your dependents can use it to clear your debts or mortgage when you’re gone, provide for their daily needs, or even finance other investments to guarantee a better future.

All the above are possible if you apply the policy correctly without making the mistakes we share below. After all, familiarizing yourself with life insurance facts is an essential step in making a decision that you won’t regret along the way.

Here are the common mistakes that policyholders ought to avoid when buying business life insurance.

Choosing the wrong life insurance policy

While it’s crucial to choose a life insurance policy that aligns in pricing with the marketplace, the cost shouldn’t be the only factor to consider. It helps to understand the exact benefits that the plan offers to your personal needs before all else.

For example, this life insurance cover sourced by Caspian is an excellent choice when you’re employed. With it, your employer pays for the protection whilst getting tax relief from the government for being a business expense.

Before spending money on any life plan, find out about the terms and possible restrictions that come with it. While at it also, consider the benefits if the risk occurs vis-à-vis the total amount of premiums that you’ll pay during the entire coverage period.

Waiting too long to purchase

The interesting fact about life insurance policies is that they cost more as you grow older. This stems from the fact that older people are at a higher risk of life-threatening health conditions than younger people. For this, insurance providers tend to charge costlier premiums as you approach old age.

Besides, sometimes you might struggle to find suitable coverage if you wait too long to purchase the life insurance policy. And if you’re lucky to get it, the benefits might not be as lucrative as those available to people who apply when younger.

Forfeiting premium payments

Not all life insurance policies are leniently flexible when it comes to monthly payments. For example, the terms of a universal life policy are strict to late payments. Therefore, if you choose it, ensure you’re up to date with your premium payments. Doing this will guarantee full payout when the covered risk occurs.

Even with the above strictness to forfeiture, insurers offer a grace period before cancellation of a policy. For example, it’s not uncommon for the UK insurance firms to wait up to 90 days whilst reminding you to update your premium payments. An ideal approach when unable to raise premiums is to communicate with your provider to find you practical ways to clear the outstanding balance.

Relying on Group Insurance Policy

Registered companies in the UK often take group insurance policies to cover their employees against life risks. Normally, you benefit from it only if you pass on while still working for the entity. In that case, if you lose your job or get into a situation that puts you out of the workforce, you will lose that coverage.

Moreover, group life policies might not guarantee sufficient coverage for all your personal needs. Although the payout will cover the costs associated with your funeral, it might not be enough for mortgage, children fees, and other costly expenses. If possible, choose a personal term life insurance policy that’s flexible to changes in your status quo, for example, switching workplaces.

Incorrect listing of beneficiaries and policyholder

The life insurance application requires you to be very keen especially on the crucial details you provide. For instance, your insurer will offer the option to place the policy into a Trust to allow you to nominate the beneficiaries. In this case, you’ll want to make sure that you have the rightful people as your trustees who will control the proceeds from the insurance cover.

When choosing a policy, ask yourself these basic questions:

Who will be the primary and contingent beneficiaries?

For example, listing your children as primary beneficiaries has the least problems compared to your spouse. Unfortunate marriage risks such as divorce can present considerable obstacles to your policy.

How many people will depend on the policy, and what are their ages?

Remember minors quickly outgrow the dependent age than the elderly people, such as your parents.

How much does each beneficiary receive as payout?

Finding answers to this question helps you determine a reasonable premium to pay for your chosen policy. For example, underspending on premium payments when you can pay for a better cover can deny your loved one sufficient proceeds.

Which of these mistakes sounds relatable? We’d like to hear your thoughts below.

6 Stocks That Pay Monthly Dividends

If you’re interested in investing and new to the stock market, it’s important to understand dividends and their various distribution frequencies. Dividends refer to profit distributions made by a corporation that are paid to its shareholders via shares in the company. These distributions can be made quarterly, monthly, semi-annually, annually, or without a set schedule.

Monthly dividends, in particular, are distributions made to company investors each month. Though quarterly payments are the most common, monthly dividends provide several advantages to investors. Not only do they come with higher yields, but you also get reinvestment opportunities and the ability to afford your monthly expenses like rent and utility payments more easily, given the payout frequency. Read on to learn more about the various monthly dividend stocks to buy now:

Vermilion Energy

Vermilion Energy is a Canadian oil and gas company that can add internationality to your dividend portfolio. Though it’s headquartered in Calgary, Alberta, Vermilion Energy also trades in the state of New York. Since its inception in 1994, it’s experienced an impressive growth rate. If it continues on this path, it’s a great option for your investment consideration.

Stag Industrial

Known for its home in the industrial sector, Stag Industrial also has ties to the real estate industry. Rather than working with multi-tenant properties, Stag International focuses on single-tenant properties. This, combined with its relationship with established tenants, increases its reliability as a stock option.

Apple Hospitality REIT

Apple Hospitality is a real estate investment trust (REIT) that can provide you with consistent monthly payouts. It rents out hotel rooms in a couple of hundred properties and leases to various upscale hotel brands. With this stock, you get a high yield and income you can count on.

Realty Income Corporation

Realty Income Corporation is a retail real estate investment trust that’s considered one of the best long-term income investments in the U.S. stock market. It’s also known for providing investors with consecutive monthly payouts and has even raised its dividend for consecutive quarters. Realty Income Corporation is an excellent option if you’re looking for a stable stock with reliable, long-term monthly dividend payments.

Main Street Capital Corporation

Main Street Capital Corporation offers debt and equity capital to lower middle-market and middle-market companies. They often work with companies that don’t have access to the stock market via an initial public offering, as well as those that can’t self-manage their finances or can’t go through a bank. Main Street Capital Corporation has a diversified investment portfolio and continues to offer consistently growing distributions to its investors.

Shaw Communications, Inc.

Shaw Communications is a Canada telecommunication company offering Canadian customers and businesses broadcast internet, wireless cellphones, landlines, and other related services. Given the industry it’s in, Shaw Communications is a safe option that won’t be as heavily impacted in the event of a crisis.

Now that you have a solid understanding of monthly dividends, you can determine if this type of investment is worthwhile. Consider the benefits that come with monthly dividends and find a high-quality stock that aligns with your preferences.

These Are the Different Types of Real Estate Investments

When you’d like to grow some equity and build your portfolio, real estate investments are an excellent way to do this. While liquidity is important, having a piece of real estate property diversifies your assets more than anything else.

It’s important that you do your due diligence and understand what comes with the territory.

Here are some of the different types of real estate investments you should know about.

Tap Into Your IRA to Purchase Property

When you want to invest in property, it’s sometimes difficult to get your capital together. Dipping into a retirement account is an excellent way to make this happen.

If you don’t have cash on hand, you can withdraw from your Individual Retirement Account (IRA) to make this a reality. These withdrawals are tax-friendly so that you don’t have to take on the financial burden.

Using your retirement account gives you a foot in the door when you’re ready to make any kind of real estate investment.

You can check out this article to learn more about how an IRA can help you with your property purchases.

Rent Out a Property on a Contract or as an Airbnb

When you own a piece of real estate property, renting it out allows you to build a residual income stream. You can provide homes to families while also growing revenue.

Many investors choose to purchase properties that have multiple residences or bedrooms inside of it. This way, you’ll bring in multiple rent payments with a single property.

Today, there are several other options, including Airbnb. The prospect of renting out an Airbnb can bring in larger profits every month. You can rent out the property by the night like a hotel, which grows your earning potential — especially if you rent an Airbnb in a populated tourist area.

Make sure that you invest in help from a property manager that can regulate the day to day aspect of the property.

Flip a Real Estate Property for Profit

If you’d rather not hold on to a property, flipping it can be a great idea that brings in a larger lump sum. Many investors purchase properties that need work for cheap, perform the renovations, and then sell it for profit.

This requires you to understand the market and to do some research into property values. You can stand to earn a lot of money this way if you have a team of professionals that can do the renovations for you.

Invest in a Real Estate Fund

There are also several funds you can invest cash into to get a return on your investment. These accounts work similar to mutual funds, and the portfolio consists of investments throughout the housing market.

Investing in these funds has a lower barrier to entry and lets you grow your money in real estate without ever having to purchase property.

Consider These Types of Real Estate Investments

There are several different types of real estate investments that you can look into, starting with the examples above.

When you understand the winning strategies for investing in real estate, you’ll be more likely to see a return on your investment.

Lean on us when you want to learn more about real estate, technology, and more.

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