Secure Your Travels: Insure Against Terror When You Travel

Posted Yesterday, under Travel Insurance
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The Impact Of The Recent Terror Attacks On The Travel Industry And It’s Importance Of Travel Insurance In The Current Scenario

If you want to travel abroad, you also have to bear in mind possibilities such as terror attacks along with travel hazards now, and not just the normal issues that crop up like booking tickets, visas, and so forth. This is becoming more important now as the world has been shaken up with terrifying terror attacks recently – take the terror attacks in Mumbai for example. Thus, when you are planning foreign travel to any country in the world, you should not forget about something which is imperative, and that is travel insurance. We have still not recovered from the impact of the recent terror attacks that shook up Mumbai. Such terror attacks were unprecedented in India. Plenty of globe trotters visit India when they think about foreign travel. They don’t travel abroad to other exotic country but visit India because of its lovely tourism as well as excellent hospitality industry. However, who could have ever thought that travel hazards could appear in the form of terror attacks here?

The travel industry in India has suffered a deep scar because of these terror attacks and the subsequent travel hazards. No one wants to travel abroad and risk his or her life. The impact of the terror attacks in India is already being felt. Business travelers, for whom foreign travel is a regular feature, are canceling their flight tickets. In fact, the world is no longer a safe place to travel abroad as it used to be. Life threatening travel hazards can affect anyone anywhere. However, if we have the assurance of travel insurance, then we won’t need to feel scared about foreign travel. In the current scenario of terror attacks, travel insurance gains primary importance, especially for foreign travel.

Terror attacks are not restricted to countries like India alone. We are all aware of the 9/11 terror attacks in the US. When there is loss of life because of terror attacks, then that loss cannot be replaced, but losses during foreign travel can surely be covered, provided you have the right travel insurance plan. Today, with the rising threat of terror attacks, you can have terrorists right inside your hotel. To combat that, you can opt for terrorism insurance.

Even your best-planned foreign travel tour or travel abroad trip can get disrupted with travel hazards and emergencies. Even if there are no terror attacks, your foreign travel vacation or travel abroad trip may not be a smooth ride. Travel hazards could range from anything like loss of baggage to medical injuries while you travel abroad. You have no idea what kind of travel hazards may attack you. You may fall sick, hurt yourself, injure yourself while driving, or need medical treatment. All these travel hazards can prove to be very costly. You can say goodbye to all these problems and travel hazards during your foreign travel with the right travel insurance policy. If you choose a good travel insurance plan then you can relax all through your foreign travels. Your travel insurance plan takes care of all kinds of travel hazards. If you want to stay safe from the time you leave home, travel abroad and return back, then go for a good travel insurance plan. Many travel insurance companies in India offer travel insurance plans designed to address travel hazards and help in foreign travel. It is a good idea to weigh the pros and cons of different travel insurance plans and find out which travel insurance suits you best for your travel abroad vacation.

Get travel insurance plan that provides the best coverage including baggage loss, medical evacuation, and travel abroad trip cancellation. Now you can travel abroad in peace without any worries!

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Ensure your Pet is Happy and Healthy With a Veterinary Pet Insurance

Posted , under Pet Insurance
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A pet offers us unconditional love and affection and in turn we think that just by providing them with meals on time, grooming and a regular bout of exercise, we are offering them a great life. However, not many pet owners plan a budget for their pet each month. Often we form a rough estimate about the kind of expenses that we bear because of our pets and accordingly keep aside that amount. A medical emergency can; therefore, completely take the pet owner by surprise, especially since pet care and treatment is becoming more and more expensive with progress in the veterinary care field. Pets can now be treated for serious diseases which require treatment like a kidney transplant or perhaps a hip replacement, but such treatment is very expensive. In such circumstances a veterinary pet insurance can take care of all your expenses on the pet and allows you to provide the very best care for the beloved animal.

The best reference for a veterinary pet insurance is through your pet’s vet or through other pet owners who have insured their pet. Also, the yellow pages and the internet are good sources of information through which you could shortlist a pet insurance company providing veterinary pet insurance. The selection of the insurance plan should be done keeping in mind the category, gender, age, breed and health of the pet. The insurance not only provides coverage for regular situations like the disease or illness of a pet but also for accidents. Many unpredictable situations may also be covered under the insurance provided you choose a scheme that has a provision for such unexpected circumstances.

Certain unpredictable situations that may be covered under a veterinary pet insurance are the cost of advertising for a lost pet, damage coverage for loss caused to a third party by your pet and even repayment of any loss that you face, in case your holiday plans are canceled due to the illness of a pet. A pet insurance will also keep you prepared for untoward situation that may arise so that your pet does not have to suffer in any manner due to a lack of funds. It can indeed be a heart breaking experience for any pet owner, if their pet has to suffer or die due to a lack of treatment that could not be afforded by the pet owner.

A veterinary pet insurance can be found for any kind of pet that you own. It may be a dog, cat, fish or rabbit or something exotic like a snake. The only issue is to discover a pet insurance company that is reputed and reliable and offers a variety of plans for every kind of pet. Each category of pet will have a different set of requirement and it is up to the owner to decide what is best for his or her pet, depending on the experience. So whatever may be your requirement, select a pet insurance plan accordingly. The premium that you pay will also be much easier on your pocket rather than if you had to pay for the entire expense on your own.

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Pros And Cons Of Property Investment

Posted , under Personal Property
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Property owners invest in real estate because they want to have a successful business until after they retire. Others rent their property because of how the economy had turned out. What the reason may be, property investment can be a steady source of income. And with property management companies helping, this business has become easier for owners to handle.

One of the advantages of property rental is that it can be a good source of income. Many people are living successful lives because of the profits they get from renting their properties. In addition, owners do not have any person to answer to. They are the boss in this business. Those that have properties far from where they live get the services of property management companies to handle their property. This gives them freedom to do whatever they want. Even if they are not hands on their property, they are assured that their investment is in good hands always.

Rental properties are also a means of getting additional tax breaks. From the investment taxes, interest in mortgage, operating expenses and depreciation, owners can write these off to minimize tax payments. The expenses for maintenance and repairs are regular and even ongoing. So this gives owner more flexibility when it comes to paying for regular taxes.

These are the pros. But there will always be disadvantages. Rental property is a business, after all. So cons should also be expected.

One of the major disadvantages is how to deal with tenants. More often than not, owners encounter tenants that cause them headache and stress. Along with these are issues regarding payment or not following the agreement rules.

Owners that have property managers are less prone to these disadvantages. The property manager is the person that works out problems and provides solution to maintain good landlord-owner relationship. Owners are kept up to date with what is happening from the report that is required to be given to them. Retaining the service of property management is the cushion owners need to be able to enjoy their freedom while earning from their investment.

Another disadvantage is keeping the property well maintained. Maintaining the property is essential to make it livable and profitable. Tenants want the best of everything. Plus, they should be getting their money’s worth. The rental home may be where they want their family to settle for a long time. So it is important that they choose the best house rental to live in.

Maintenance can be scheduled on a regular basis. This is one of the important responsibilities of property managers. To ensure that the property is well kept in the absence of the owner and towards the duration of the stay of those renting it. Property management companies have their own maintenance contractors to get in touch with whenever it is needed. Problems can be fixed almost immediately. And no hassle for owners who still have to get their own repair company to do the work.

Any kind of business has their share of pros and cons. Property rental is no exception. But once the advantages are taken care of, the advantages this investment will surely be worth all the effort.

For more information or for further inquiries, visit: Tampa Property Management , Rental Property Tampa

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Is Your Financial Planner Going To Pay Your Long Term Care Bills?

Posted , under Long Term Care
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I always like to ask my clients, “Will your financial planner be willing to pay your long term care bills, will they have access to good quality Home Health Care Providers?” Many lawyers and advisors are now reluctant to recommend against Long Term Care Insurance for fear of law suits later on, from children, when hundreds of thousands of dollars were required to pay for their parents long term care bills. Planners who fail to recommend coverage are more times than not, unaware of the real RISK of needing care one day.

The senior has now become the GREATEST financial risk that Americans face today. The majority of them are unaware of it because let’s face it: No One wants to think about needing Long Term Care. It is going to happen to someone else!

Long term care bills are the biggest reason for financial failures among seniors today. Yet there are a lot of Financial Planners and Investment Advisors who will say that you don’t need Long Term Care Insurance. If you already have a lot of money, perhaps you don’t! The question is: Would it be a smart decision to have this coverage?

What we are seeing today are many Financial Planners split on the subject of LTC Insurance. You will hear some say that if you have any resources you should not be without it, that it is an integral part of financial planning, while others think if you have enough money you should self-insure. Who is right?

Every financial advisor I talk with would recommend long term care coverage if he knew in advance that his client would need several years of long term care.

Do the math. In a state where long term care bills are averaging $170 per day, and the average premium is $4000 a year for a couple, aged 60, and they live another 20 years, they have paid out $80,000 in premiums for the peace of mind that they will not go broke. Without the insurance, they could end up paying over $80,000 in less than two years for ONE OF THEM on the advice from a Financial Planner telling them that they DON’T NEED IT!

It must be concluded that Financial advisors who recommend against LTC Insurance figure you are not going to need care since they would recommend you obtain coverage if they knew you were going to have to spend several hundred thousand dollars. You should find out from the advisor what is the BASIS for their prediction? Also, be aware that Advisors are sales people. They are in the business of making you money. If you purchase Long Term Care Insurance, you have less money for them to manage!

The decision is yours. At this point in your life, are you more interested in making a few more thousand dollars a year or are you more interested in protecting what you have already earned from the most DEVASTATING financial risk that people face in America today? One of the biggest financial mistakes a person can make today is needing Long Term Care and having no coverage! Is this a mistake you want to take a chance on making? Seek out a LTC Insurance Specialist to help you make the best informed decision for you and your family.

Remember, your Financial Planner or Advisor is not going to pay your long term care bills. You will!

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There Is Beauty In Simplicity: Consider An Insured Annuity

Posted , under Life Annuities
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As a derivatives trader, nobody more than myself enjoys coming up with sophisticated investment strategies.  Yet, sometimes opportunities presents themselves in ways that don’t require a whole lot of complexity nor hours of research.  And while I strongly believe there are no free lunches out there, sometimes you do find a $5 bill or even a $20 bill lying on the street.  An insured annuity is one of those very simple, easy to understand products that complement the fixed income portion of one’s portfolio.     

So, what is an annuity? It is a contract, usually between an insurance company and an “annuitant” who, for a lump sum payment, will receive from the insurance company, a stream of income for life — very similar to the benefits of owning a long term bond or perpetual preferred share.  

So what is an insured annuity?  An insured annuity is simply an annuity in combination with a life insurance policy.  One of the disadvantages with owning an annuity without the insurance policy is that once you hand over the cheque to the insurance company, you don’t get your money back.  An insured annuity solves this problem.  Basically upon death, the annuitant’s estate receives the principal amount back — again very much like a bond that upon maturity pays back the principal amount.

Now, there are various types of annuities, and many factors that need to be considered in determining the appropriate type of annuity.

Single Life Annuity

A single life annuity will provide you with an income for as long as you live, ensuring that you will never outlive your money. It can also be guaranteed for a certain number of years. Should a premature death occur, the estate will continue to receive the funds at least up to the guaranteed period.

Joint and Last Survivor Life Annuity

This life annuity is payable while either you or your spouse (or common-law partner) are living. When one spouse dies, the survivor can continue receiving income payments as agreed upon when the annuity contract was established. As with the single life annuity, a guarantee period can be written into the contract.

Term Certain Annuity

This type of annuity can be useful for planning ahead when you will require a specific or additional income for a pre-defined period. A term certain annuity provides you with an income for a set period, or until a certain age.

How Life Annuity Payment Amounts Are Calculated

The life annuity payment amount is fixed and is based on:

• the amount of money used to purchase the annuity,
• the type of life annuity purchased,
• current interest rates,
• the ages of the annuitant and joint annuitant, if any,
• current long-term bond rates.

Tax Efficiency

Perhaps the greatest benefit for considering an annuity is for the tax efficiency of the prescribed annuity when using “non-registered” funds. The CRA recognizes that payments received as income from an annuity include both interest and principal. Since taxes have already been paid on the principal, the annuitant will not be taxed twice.

For example, if one purchases a life annuity for $1,000,000 and receives an annual income of $80,000, the amount that is taxable might be $18,000 (actual income and taxable amount will be based on conditions when an annuity is purchased).   That leaves the investor with $62,000 on an after tax basis.

However, in order to complete the financial analysis, we have to factor in the cost of the insurance policy.  Again, it will depend on the individual but for this example, let’s assume the cost of the insurance policy was $15,000.  This would reduce the investor’s income from $62,000 to $47,000 on an after tax return basis.

In comparison, an affluent, wealthy investor would have to earn at least 8% from his bond portfolio in order to match the after tax return of an insured annuity.  Given that most investment grade corporate bonds are paying closer to the 5-6% range, the insured annuity outperforms by a landslide.

In summary here is what an Insured Annuity can do for you?

Provide a regular, guaranteed income stream for both you and your spouse for as long as both of you live.
Create a tax advantage
Ensure your principal is returned to your estate upon death
Reduce market risk to investable assets by treating an annuity as part of the asset allocation strategy of the portfolio

Are there any disadvantages to an annuity?  It’s a non-cancellable contract, and technically you lose control of those funds. The contractual payments are fixed and will never increase — hence annuities are subject to inflation risk which is why we at Frontwater believe they are a complement to a portfolio weighted towards fixed income.  

Certainly, as stated above, if for no other reason than continuing market volatility, and your expectations of a long life, a look at including an annuity within your overall investment strategy might be worth a consideration.

Whenever, I speak about insured annuities, I am reminded of the story with Leonardo da Vinci and the Pope.  The story goes that the Pope requested that Leonardo da Vinci submit a piece for a new commission. Leonardo drew, freehand, at arms length, a perfect circle on a sheet of paper and sent it to the Pope, who promptly gave him the commission.  For those who don’t know, to draw a perfect circle, freehand and unsupported is one of the hardest things possible to draw — all the more reason to admire beauty in simplicity.

To find out more about insured annuities, please contact Warren Blatt at 416-319-8172.

Author: Jeff Kaminker
www.fwcapital.ca

http://fwcapital.ca/wordpress/

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