As we rush head-first into 2019, how are those New Years resolutions holding up? Now that the infamous ‘Janu-worry’ has come to an end, it’s a good time to re-evaluate your financial goals and set yourself up for financial success in 2019. Having a detailed, clear set of goals against which to measure your progress can help you focus on saving and avoid falling back into old habits of unnecessary spending. To help you along the way, here are 10 top tips for managing your money better in 2019: It’s important to re-assess your budget regularly to account for changes in your income and expenses. Use your transaction history to identify where you may be overspending, and try to ‘trim the fat’...
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Solvency II data have been used to compile financial accounts for the UK insurance sector for the period 2016 onwards; these were compiled as experimental flow of funds statistics. The stocks of financial liabilities increased by 2% from £1,843 billion at the end of 2016 to £1,879 billion at the end of 2017; life technical reserves and pension entitlements represented 48% and 27% of total 2017 liabilities, respectively. UK insurers’ largest 2017 investments were investment fund shares/units (£605 billion) and debt securities assets (£519 billion). UK insurers’ exposure to the rest of the world sector accounted for 29% of their investments The investment fund shares/units were largely...
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While you may fear that your own family members will have to resort to the desperate measures taken by the Mtshali family, who lugged a relative’s corpse to an Old Mutual branch in KwaZulu-Natal to get the assurer to pay out the policy benefits, think twice before you cancel your policies. This is the warning from the Financial Sector Conduct Authority (FSCA), the regulator of financial services providers. In light of calls on social media for the cancellation of Old Mutual policies, the FSCA says that while it understands the frustration felt by many, policyholders are urged not to cancel their policies owing to the following risks: • There may be waiting periods attached to new funeral...
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Term Life Insurance Review Term life insurance has one benefit. It pays out a death benefit to named beneficiaries if the benefactor passes away during the term of the policy. The term simply refers to the duration of the policy. Policies range in term anywhere from as few as five years to 30 years. It is a simple definition, and assuredly when you go to get quotes you will still be overwhelmed. The reason is getting a handle on all the packaging of policies makes comparing quotes difficult. If you look carefully, you may have one policy providing added benefits of paying specifics beyond a tax-free death benefit. Are added benefits worth it? For instance, some insurance companies offer...
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American life insurance agents who wish to shop and research the term insurance market for their clients used to have to pay $100 or more per year to subscribe to term insurance comparison software. CompuOffice Software Inc, a leading North American developer and distributor of life insurance and financial software has announced the introduction of the leading edge CompeteUSÂ Professional Software for use by consumer interest oriented insurance agents and brokers. Priced at only $79 per year, all-inclusive and including regular and frequent data updates and software upgrades, the CompeteUSÂ Professional Software provides independent insurance agents with a wide and significant...
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The Money Compare Insurance Health Check is free, fast and simple… and could save you thousands of dollars. Simply complete our short, no obligation request form and our specialist insurance advisors will be in touch. Not sure if an Insurance Health Check is right for you? Well there are a wide range of reasons why you should check your insurance on a regular basis. We’ve outlined some of those reasons below. Many New Zealanders are under insured - are you? In the life sector, premium affordability and risk prioritisation are the key issues impacting take-up rates. You don’t need to be one of these. Our dedicated partners in the insurance sector have created the Insurance Health Check...
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Multi Trip Travel Insurance: A Comparison of SafetyWing and World Nomads If you’re a frequent traveler, you know how important travel insurance is. Nobody wants to get into a difficult situation in a foreign country and not have the money to pay medical expenses or to replace lost or stolen gear. Of course, we all hope that nothing happens during a trip, but it’s better to be safe than sorry! In this article, I’m going to be taking a look at two of the top multi-trip travel insurance companies – SafetyWing and World Nomads. I’ll help you learn the facts about these two companies so you can make the best decision for yourself! To forestall, my personal favorite is SafetyWing. Here’s a...
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The big question of financial planning is whether we should pick a term insurance plan or a whole life insurance plan. While the debate still continues, we will address another popular question today in our journey with money. Which term plan is better? Highly sought after by investors due to the high coverage and low premiums, term plan have been getting popular in the recent years. Let’s recap the advantages and disadvantages of the plan. It is a common school of thought for investors to pay the minimum premium for the maximum coverage for insurance. This is a fair statement assuming only if the investor know what he is investing in (such as value investing or options mastery, etc...
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Term insurance is by far one of the least expensive ways to get yourself a sizable death benefit without having to pay the larger sums of money that usually come with the more extensive forms of this type of insurance. Different companies have their own different versions of this type of insurance. In India alone several insurance firms have their own takes on this type of policy. This is why it is necessary to conduct your own term insurance comparison for you to be able to discern which one suits you, your family, your budget and your needs the most. Many people may not want to address this probability but in case of any sudden and untoward incidents that may potentially leave your family...
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If you’re thinking about buying term life insurance, there’s a few key things you should keep in mind. For example, what period length of term insurance should you buy and why? These are very important issues you need to give some thought about before you buy a term life insurance policy. Determing Type of Term Policy The main question you want to ask yourself is why you want the insurance in the first place. The second question you need to answer is how long you will need it. Term life insurance can be bought in increments of time such as 10, 15, 20, 30 years or it can be bought as being age specific such as when you reach age 65 for example. The first thing to remember is that term...
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