Thermal Mugs: Plastic Vs Stainless Steel

The basic design of thermal mugs, whether they are plastic or stainless steel is the same – double wall insulation with a lid to seal the top. But even though stainless steel versions cost more than plastic versions, in the long run, they are the best deal for travelers. They can also be made of ceramic or glass, but those are generally designed for household use and not for travel due to the possibility of breakage.

The main benefits of a stainless steel mug are durability and better insulation. Steel is tough, and although plastic mugs can take a beating, a steel mug can last much longer. This is especially true when compared to the more brittle, hard plastic mugs that are sometimes used to display stylish designs and finishes. Although messy, dropping a steel mug of coffee will not generally cause any damage.

There are three basic types of insulation used; Air, foam or vacuum between double walls. Plastic versions usually use either air or foam. Both work acceptably, but air or foam is not as effective as vacuum insulation. More often than not, steel mugs use vacuum insulation which can keep beverages hot for a longer period of time. This can be quite important especially on long (and cold!) Morning commutes.

Beyond the two primary benefits, there are a few other benefits that stainless steel thermal mugs have when compared to plastic mugs. Plastic, being slightly softer, is more difficult to clean. You can use tough cleansers (making sure they're non-toxic!) On steel, but the same cleansers will scratch and damage plastic. For the same reason, plastic mugs tend to retain the flavors of the beverages that have been in them. This is not really a problem if you just drink regular generic coffee every day, but if you use the mug for different beverages, it can be.

When you look at all the factors, durability, ease of cleaning, effective insulation and better flavor, the stainless steel thermal mug is by far the best choice, even though it can be a bit more expensive. The only real benefits of plastic mugs are the lower price in the short run (which can be a big benefit if you lose your mug frequently!) And that they are slightly lighter than stainless steel mugs.

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Garage Insurance – Used Car Dealers and Repair Shops Watch Those Symbols

Garage insurance is a much misunderstood policy form. Many professional insurance agents are confused about exactly when to use it and more importantly exactly how. You can use a garage liability policy to protect a used car dealer, often referred to as dealer's insurance, or you can use this same form to protect an automated repair shop or to set up body shop insurance. The trick is to know the symbols. If you own a car dealership or an automotive repair shop and are purchasing insurance for your business, it is advisable that you find an agent who specializes in the garage insurance form to help you with this purchase so you do not end up with the wrong Form and possibly find yourself without coverage after a large loss.

As I mentioned earlier, both types of businesses, auto repair and or body shops and used car dealers both need the garage policy. But exactly what kind of operations are covered in these policies is driven by the symbols shown on the policy. This is very important. If your business is automated repair or body work but your policy is set up with symbols that would apply to a car dealership, you could find yourself without coverage in the event of a liability loss.

So how do you know if you have the correct symbols and then the correct form? Pull out your garage policy and look at the first page. Beside each type of coverage, usually to the left, there will be a least one two digit number between 21 and 31. These symbols will describe what is protected by the coverage shown next to that symbol. Here is a list of the most common symbols and what each one protects:

Symbol 21 Any auto
Symbol 22 All owned autos
Symbol 23 Owned private passenger autos only
Symbol 24 Owned autos other than private passenger
Symbol 25 Owned autos subject to no fault laws
Symbol 26 Owned autos subject to Uninsured Motorists law
Symbol 27 Specifically described autos
Symbol 28 Hired autos only
Symbol 29 Non-Owned autos used in the Garage Business
Symbol 30 Autos Left for Service / Repair / Storage
Symbol 31 Autos on Consignment

As you have probably figured out, if you are an automobile dealer and you have symbol 30 on your policy, you would find yourself without coverage. So why not just put symbol 21 on all coverage? Well, since code 21 is the broadest coverage, you would have to pay for this insurance policy and in some cases you might be purchasing insurance protection that you did not really need.

Take some time to look at your policy carefully and review the symbols for each line of coverage to make sure that they are appropriate for the work you do. If you need help with this process, consult your agent. If you agent does not specialize in businesses needing garage policy, ie dealers insurance and auto repair shop insurance, then find one who does. This protection is just too important to leave up to an agent who is practicing on the job learning on your policies.

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Do You Have Sufficient Auto Insurance Coverage?

Imagine getting ready to leave your house and you open your door and the rain is pouring down. Now you start to frantically look for your umbrella…. ah, there it is! You step outside, open your umbrella, and you are now protected from that pouring rain. If it were a bright sunny day with no rain in sight you probably would not even care about where your umbrella is or if you even had one! The same is true about insurance. Until you need it, do you really care about it? Unfortunately, too many people realize that they have insufficient coverage only when an unexpected incident occurs and they have to place a claim with their insurance company.

So, a logical starting point to determine if you have proper insurance coverage is to understand the basics. To ensure that you do have the proper coverage, you first need to acquire a good understanding of the basics of auto, home, personal umbrella, and life insurance coverage. For this article, we will focus on auto insurance coverage.

Auto Insurance basically covers you for liability and property damage as it relates to your motor vehicle. There are other optional areas of coverage as well, but for our discussion let’s stay focused on the basics, which are the most important anyway. Your auto insurance policy’s first and/or second pages are the declaration pages of your auto insurance policy. The declarations pages describe your auto coverage limits in numeric dollar values.

Here is a sample of what you may see on your auto insurance policy’s declaration pages:

-Bodily Injury/Property (BIPD) 250/500/100

-Limited or Unlimited

-Medical (Med) $5,000

-Personal Injury Protection (PIP) 250 w/250 Ded

-Uninsured/Underinsured (UM/UIM) 250/500/100

-Collision $500 (Coll) Deductible

-Comprehensive (Comp) $500 Deductible

-Rental Insurance (RI) 80%/1500

Let’s take a look at each of these coverage definitions and amounts in more detail.

The BIPD represents Bodily Injury (BI) / Property Damage (PD). Basically, in the example above, this individual policyholder has liability protection for $250,000 per individual or $500,000 maximum per incident, plus $100,000 in property damage to the other party’s vehicle in a collision. Liability coverage is protection for times when you have been deemed and proven negligent in an auto accident and you therefore become legally liable for the resulting compensatory and/or punitive damages to the other party or parties. The BI, of the BIPD, will cover you for negligence on your part that resulted in bodily injury to the other party or parties. BI also covers the cost of attorney fees associated with any litigation brought against you by the other party. In the above example, this person has $250,000 in coverage for all inclusive liability and attorney fees per individual injured or $500,000 for the entire incident.

The PD, of the BIPD, covers the damage to the other party’s vehicle as a result of your negligence; thus, in the above example, up to $100,000 in property damage to the other party’s vehicle or property. Now, being cognizant of the litigious society that we live in, we ask if $250,000 per person or $500,000 per incident is enough BI coverage? This is a personal decision for every individual to make depending upon their current assets and net worth, and their knowledge of recent jury decisions and awards on BI cases. A major factor affecting this decision is an understanding that you are self-insured for any amounts awarded in excess of your BI coverage amount, should the jury award compensatory and punitive damages greater than your BI coverage amount. So, in this example, should the jury award $750,000 to the individual driving the other vehicle who suffered bodily injury because you collided with them as a result of your negligence, then you are self-insured for the amount in excess of $250,000 which in this case would be $500,000. If you do not have the $500,000 to settle the award, then the judge has many other options to ensure restitution to the injured party such as: garnishing your wages, selling off some of your assets, placing a lien on your property, etc. Now, you can get an umbrella policy to cover you up to a certain amount in excess of your underlying auto BI coverage. We will look at how an umbrella policy works in more detail in an upcoming article.

Next, we have “limited right to sue” versus “unlimited right to sue” coverage. Basically, under the “limited” right to sue lawsuit option, you agree not to sue the person who caused the auto accident for your pain and suffering unless you sustain one of the permanent injuries listed below:

-Loss of body part

-Significant disfigurement or scarring

-A displaced fracture

-Loss of a fetus

-Permanent injury

-Death

Please note that choosing this option does not waive your right to sue for economic damages such as medical expenses and lost wages.

Under the “Unlimited” right to sue lawsuit option, you retain the right to sue the person who caused an auto accident for pain and suffering for any injury. Most people will choose the “limited” option because it is far less costly and it provides the ability to sue the negligent party for most major and permanent injuries. However, many attorneys will usually choose the “unlimited option” for their own personal coverage and pay the significant extra cost because they want the right to sue for any injury.

PIP coverage stands for Personal Injury Protection coverage. PIP is paid from your own policy. PIP covers medical expenses, and possibly lost wages and other damages. PIP is sometimes referred to as “no-fault” coverage, because the statutes that enacted it are generally known as no-fault laws. PIP is designed to be paid without regard to “fault,” or more properly, without regard to legal liability. PIP is also called “no-fault” because, by definition, a claimant’s, or insured’s, insurance premium should not increase due to a PIP claim. A PIP claim may be subrogated by your insurance against the other party’s insurance company if the other party was determined to be the neglligent party in the accident. PIP is a mandatory coverage in some states.

Uninsured/Underinsured (UM/UIM) is coverage from your policy that may pay for injuries to you and your passengers, and possibly damage to your property, when as a result of an auto accident the other driver is both legally responsible for the accident and determined to be “uninsured” or “underinsured.”

An uninsured driver is a person who has no auto insurance coverage, or had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it. In most states, a hit-and-run driver is also considered an uninsured driver as it pertains to paying for injuries to you or your passengers.

An underinsured driver is a person who had insurance that met minimum legal requirements, but did not have high enough coverage limits to pay for the damage caused by the accident. In these situations, UIM coverage can pay you for your damages. It is important to note that uninsured and underinsured is separate coverage, although in many states they can or must be purchased together. Some states mandate purchase of UM/UIM, but many do not.

Collision coverage insures you for damage to your vehicle. No matter if it is a collision between your car and another car, or your car and a stone wall. You are covered if your car sustains damage as a result of colliding into something or something colliding into it, whether you are at fault or not. Your deductible will usually apply. If you collide with another vehicle and the other party is at fault, then your insurance company may subrogate the claim against the at fault party’s insurance company to recover the claim amount.

Comprehensive (Comp) basically covers what collision coverage does not. When your car sustains damage that did not result from colliding with another motor vehicle or object, the comprehensive portion of your policy will pay for the damages. If you do not have comprehensive coverage then you would have to pay out of your own pocket for any damage to your vehicle not related to a collision. Here are the perils typically covered by comprehensive auto insurance coverage: fire, theft, vandalism, broken or damaged glass, animal inflicted damage, falling objects, storms (hail, wind, etc.), and water damage. Your deductible will usually apply.

Rental Insurance (RI) is coverage for you to rent a car while your vehicle is being repaired because of a covered incident. In the above example of declaration page values, the 80%/1500 means that you have coverage for $80 per day and $1,500 maximum total cost to rent a car while your vehicle is being repaired. This is an optional coverage that many people take, but some do not.

Well, that is it! That is the basics of understanding your auto insurance coverage. Not so bad, right? Now that you understand the basics of auto insurance coverage you can review and analyze your personal auto insurance policy’s declaration page coverage information while taking into consideration your personal financials to determine whether or not you have sufficient coverage.

Stay tuned for future articles that will explain the basics of understanding homeowner’s, personal umbrella, and life insurance coverage. You never know when it is going to rain!

Joseph Rubino, Agent

NJ Licensed Property & Casualty, Health, and Life

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10 Ways to Get a Shower on the Road

Hello travelers, people living out of a vehicle and other awesome folks, here are 10 Ways to Get a good Shower On The Road.

1) At a campground Campground showers vary from one place to the next. Some are excellent, some use solar power so you are out of luck if it’s after dark, and others are not heated at all. Water pressure is also a variable. Some have consistent water pressure while others will only get a weak stream when someone hops in the shower next to you or runs the sink. Campground showers can vary from deluxe with your own private changing room to just a primitive curtain or in rare instances, nothing at all. Some are well kept and impeccably clean and others you get to share with a few spiders and other mystery guests.

2) A community pool is another option. You may have to pay a few bucks to use the pool, but the showers are generally free. And hey, why not go swimming while you’re at it? They usually only accept cash and hours are limited.

3) Get a 5 gallon solar shower These are pretty cheap, usually less than $20 for a simple one, and can be quite useful when you’re roughing it. If you leave it in the sun for a few hours you’ll have a hot shower. If it’s not hot enough, a cup of near boiling water should do the trick. Just don’t burn yourself! If privacy is still a concern, for around $70 you can get a portable privacy shelter, such as the Texsport Deluxe Camp Shower/Shelter Combo. It works great for car camping.

4) The Solo 465 Stainless Steel Sprayer can be used as a medium pressure camp shower. Several people have commented they place it on a stove top burner and heat it up, then pressurize it and then it’s shower time. My friend tried this by pouring hot water into a 2 gallon plastic sprayer tank that he had and it made a great shower. It uses about 40 ounces per minute so that is a 6 minute shower using only two gallons. Another suggestion is to shower with Dawn Direct Foam soap instead of bar soap, then when it’s empty, you can refill it with your own scented soap and distilled water. The foaming soap lather won’t be affected by hard water. And it works for dishes too.

5) Get a day pass to a local fitness club. They usually run just $5 to $10, have really nice showers, and there is no excuse not to get a great workout while you’re at it!

6) Stop at a road house or large gas station such as Flying J, TA or Pilot, and other road trip stops with amenities for travelers and truckers alike. These tend to be some of the nicest showers you can get on the road as you get your own private bathroom with plenty of hot water and water pressure. Plus you get your own sink and toilet. Towels and soap are usually provided though you’re welcome to bring your own supplies. The cost is usually between $5 and $10 USD. If you’re traveling with your significant other, they’re usually willing to let you pay the one fee for a shared room. If you’re a little hard up for cash and feeling brave, you can also try asking a trucker if he or she has an extra shower coupon. Truckers often get free shower coupons when they buy gas and may have an extra to give away (or sell for a buck or two).

7) Visit a friend, relative or make a new acquaintance and ask to use their shower…sure, you might get a funny look, but what are friends for?

8) Try the “It Makes Sense Shower head.” You still need a water supply, but this device will help you save water. You can take a hot shower using very little water which is helpful when you’re on the road, so long as you don’t mind the chill in between the water spray. It has a chain to pull to adjust the flow of the water from a full spray to a trickle while you lather. It’s similar to a navy shower, and great for conserving water.

9) Zodi Hot Tap Single Burner Travel Shower runs off propane and 4 D batteries, so you can get a hot shower any time of day at the push of a button. It holds 4 gallons of water which is good for a 10 minute shower. Costs about $130

10) Hotels with swimming pools will sometimes let you use their pool for a small fee, and usually have public showers.

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Travel: Different Means of Travel!

Nowadays, there are many different means of travelling which include airplane or ships or trains or buses etc. you can choose your medium by keeping in view your interest, your priorities and of course your budget. Lets have some general over view of different means of travelling.

AIR: Air travel is the most recent means of moving from one place to another. Since its first usage, it has become so popular due to its many advantages that it is now the most used mean of travel by people for long routes. It is taken as an expensive choice although there are many air lines that are offering air flights quite cheaply but over all it is an expensive but most quick mean of moving from one place to another.

SEA: Sea is one of the oldest means of travelling. Ships were used for roaming even by Greeks and Egyptians. It remained the main source of travelling for quite a long time but after the invention of aero planes, it has somehow lost its place. Nowadays moving from one place to another by sea is rarely done and even when done it is mostly through large ships which are built for luxurious cruising for the more privileged people. Middle and lower class people can’t really enjoy in those huge and luxurious vessels.

TRAIN: Moving from one city to another by means of train is considered as the most reliable and affordable mean of travelling. Trains now for long have remained a top priority of people for travelling. Travelling by train has all the ingredients that it takes for a perfect travel as it is quick and reliable and cheap mean of travelling.

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Trusts and Certyty of Intention

This article looks at the requirements and formalities for a valid trust. In UK law, a trust is an arrangement involving three classes of people; A Settlor, Trustees and Beneficiaries. The Settlor is the person who transfers property to the Trust. The Trustees are people who legally own the Trust Property and administrator it for the Beneficiaries. The Trustee 'powers are determined by law and may be defined by a trust agreement. The Beneficiaries are the people for whom benefit the trust property is held, and may receive income or capital from the Trust.

"No particular form of expression is necessary for the creation of a trust, if on the whole it can be gathered that a trust was intended." This statement gives the impression that no formalities are needed, and could be misleading. Although equity generally does look to intent rather than form, mere intention in the mind of the property owner is not enough. For a valid trust to exist, the Settlor must have the capacity to create a trust. He must positively transfer the trust property to a third party trustee or declare himself trustee. Further, he must intend to create a trust, and must define the trust property and beneficies clearly. This is known as the 'three assurances'; Certificate of subject matter, certainty of objects and certainty of intent.

Certificate of intent refers to a specific intention by a person to create a trust arrangement wheree Trustee (which may include himself) hold property, not for their own benefit but for the benefit of another person.

It is clear when trusts are created in writing and on the advice of legal professionals that intention is present [Re Steele's Will Trusts 1948]. However, no particular form of words is needed for the creation of a trust and here the equivalent maxim, "Equity looks to intent rather than form", applies. It is therefore sometimes necessary for the Courts to examine the words used by the owner of the property, and what obligations if any the Owner intended to impose upon those receiving the Property.

It is not necessary that the Owner expresses calls the arrangement a trust, or declares himself a trustee. He must however by his conduct demonstrate this intent, and use words which are to the same effect [Richards v Delbridge 1874]. For example, in Paul v Constance 1977, Mr Constance did not express declare a trust for himself and his wife, but he did insure his wife that the money was "as much yours as mine". Additionally, their joint bingo winnings were paid into the account and withdrawals were considered as their joint money. The Court therefore found from Mr Constance's words and conduct that he intended a trust.

Certiety of intention is also known as certainty of words, although it has been suggested a trust may be infringed just from conduct. Looking at Re Kayford 1975 1All ER 604, Megarry J says of certainty of words, "the question is whether in substance a sufficient intention to create a trust has been identified". In this case, Kayford Ltd deposited customer's money into a separate bank account and this was held to be a "useful" indication of an intention to create a trust, although not definitive. There was held to be a trust on the basis of conversations between the Company's managing director, accountant and manager so words were necessary for the conclusion.

In contrast, where the word 'trust' is expressly used, this is not a comprehensive evidence of the existence of a trust – the arrangement may in fact institute something very different [Stamp Duties Comr (Queensland) v Jolliffe (1920)]. For example, the deed may contain words such as "On trust, with power to appoint my nephews in such shares as my Trustee, Wilfred, shall in his absolute discretion decide, and in default of appointment, to my friend George". Although professing to be a trust, Wilfred is not under an obligation to appoint the nephews and provision is made for the property to pass to George if he does not. This is therefore a power of appointment, not a trust [eg. Re Leek (deceased) Darwen v Leek and Others [1968] 1 All ER 793].

Sometimes in a will, the owner of Property will use 'precatory' words such as expressing a 'wish, hope, belief or desire' that the receiver of property will handle it a certain way. For example, in Re Adams and Kensington Vestry 1884, a husband cave all of his property to his wife, "in full confidence that she will do what is right as to the disposal between between my children …". The Court held that the wife may have been under a moral obligation to treat the Property a definite way but this was not sufficient to create a binding trust. Precatory words can still sometimes create a trust. In Comiskey v Bowring-Hanbury 1905, the words 'in full confidence' were again used, but the will also included further clauses, which were interpreted to create a trust. The Court will look at the whole of the document to ascertained the testator's intention, rather than dismissing the trust because of individual clauses.

There are further formalities required for certain types of trust property, and for a trust to be valid, title to the trust property must vest in the Trustee, or, the trust must be "constituted". This might be done for example, by delivery for chattels or by deed for land. If the trust is not properly constituted, the proposed beneficaries have no right to compel the Settlor to properly transfer the Property, as 'equity will not assist a volunteer'. The exception to this is where the beneficiary has provided consideration (including marriage) for the Settlor's promise, in which case, there would be a valid contract and the Beneficiary could sue for breach.

Where a testamentary trust of land or personalty is purported, the will in which it is contained must be in writing and executed in accordance with Section 9 of the Wills Act 1837, which means the Will must be signed by the Testator in the joint presence of Two witnesses, and then signed by the two witnesses in the presence of the Testator.

Where a Settlor wants to create an inter vivos trust of personalty, the formalities are minimal. Under the usual requirements for a trust (capacity, the three responsibilities etc), the Settlor must observe any formalities required to properly transfer the Property to the trustees – for example, the execution and delivery of a stock transfer form for shares.

To create an inter vivos trust of land or of an equitable interest in land, in addition to the formalities of transferring the land, the declaration of trust must be in writing and must be signed by the person able to create the trust – ie, the Settlor or his attorney [S.53 (1) (b) Law Property Act 1925]. Where this formality is not accepted, the Trustee would hold the land on trust for the Settlor rather than the Beneficiary. The exception is where the rule in Strong v Bird 1874 applies – the Settlor intended to make an immediate unconditional transfer to the Trustee, the intention to do this was unchanged until the Settlor's death, and at least one of the Trustee is the Settlor's administrator or Executor. In this case, as the property is automatically vested in the Settlor's personal representatives and the trust is constituted.

It is sometimes stated that no particular form of expression is necessary to create a trust if intention was present. Clearly this is not the case. There are formalities for creating inter vivos land trusts and testamentary trusts and if these are not followed, the trust will fail without consideration has been provided or the rule in Strong v Bird 1874 applies, even if the Trustee had the best intentions. Further, the form of words used in those formalities must be clear and unambiguous, or they may not amount to a trust. He goes on to say that 'a trust may be created without using the word "trust"' and this is true in that other words and conduct to that effect are sufficient. However, the Court does not just regard the 'substance' of the words. If the word used does not meet the 'three assurances' or, for example, the person making the declaration does not have the capacity to make a trust, the trust will fail. This is clearly not the desired 'effect' and not the owner's intention.

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Different Types of Life Insurance Policies Available in India

Life insurance is one of the fastest growing financial service sector in India. Currently, there are 24 life insurance companies in India offering various kinds of life insurance policies with many benefits and riders. The main purpose of taking life insurance is to provide financial protection for the dependents of a person in case of his death.

There are some life insurance policies which have inbuilt wealth creation or investment plans along with insurance. Also, these products are offered as specific tailor-made products for different life stages like, child plans, retirement plans, pension plans etc. A few products offer loan facility along with the life insurance plan. Also, all life insurance premiums offer tax benefits to the insured, as per the Indian Income Tax Act.

Here under are different types of life insurance policies that are being offered in India.

Term insurance policy:
Term insurance offers financial protection for the family of the insured in case of his sudden demise. It is the cheapest life insurance policy that offers high sum assured at low cost. This policy provides insurance cover for a period of time. In India, almost all life insurance companies offer term insurance with different product names. The term policy will be usually available for 5, 10, 15, 20 or 30 years. The policyholder does not get life cover after the completion of the term policy. Further, in India premium paid on term insurance is eligible for tax exemption under section 80C of Income Tax Act in India.

Money-back policy:
Under this policy, certain portion or percentage of the sum assured is returned back to the insured, in case of survival of policy holder. In the event of death during the period of the policy, the nominee of the policy gets death benefits equal to the sum secured and accumulated cash benefits. The premiums of money-back policy are very high compared to term insurance policy.

The money-back policies are offered for a fixed period of time, usually up to 25 years and the policyholder pays a fixed premium periodically (monthly, quarterly, annually) during the policy period. The premiums paid on money-back insurance policies are eligible for tax exemption under section 80C of Income Tax Act in India.

Whole life insurance policy:
As the name suggests, the policy covers risk for an entire life of the policyholder. This policy continues as long as the policy holder is alive. The policy offers only death benefits to the beneficiary or nominee in case of the death of the insured. This policy does not offer any survival benefits. So, the whole life insurance policy is primarily taken to create wealth for the heirs of the policyholders, as this policy offers payment of the sum assured plus bonus in the event of the death of the policyholder. The premiums of whole life insurance are costlier than term plans.

The policyholder pays premium for whole life or till some age (say 80 years) or for some period of 35-40 years based on the terms and conditions of the policy. The premium paid on whole-life insurance policies is eligible for tax exemption under section 80C of Income Tax Act in India.

Endowment insurance policy:
It is a savings linked insurance policy that provides cover for a specified period of time. The policy holder receives sum assured along with bonus or profits at the end of the policy in case of its survival. This policy is best for those people who do not have a savings or investing habit on a regular basis. In case of the death of the policy holder before the maturity of the policy, the beneficiary of the policy receives only the sum assured amount.

The premiums of the endowment policies in India are costlier than term life and whole life insurance premiums. Also, the premiums paid on endowment insurance policies are eligible for tax exemption under section 80C of Indian Income Tax Act.

Unit linked insurance policy (ULIP):
It is a special kind of investment tool combined with life insurance and serves as investment-linked insurance policy. In this policy, some part of the premiums goes into life cover and some part of the premium goes into investment.

The policy consists of investment mix where some percentage of the premium can go into 100% equity funds or 100% debt funds or a mixture of both. Here, the policyholder has an option of choosing funds or he can select the strategy of investing. The policyholder can also have the choice of switching from one fund to other fund. The returns from ULIPS are based only on the performance of the funds. The main drawback of ULIPs is that, it contains high charges (responsibilities) for managing funds.

In India, ULIPs allow you to claim tax benefits against the premium payment by two ways – deduction and exemption. You can deduct up to Rs.1 lakh of your taxable income by investing in ULIPs under section 80C of Indian Income Tax Act. You can exempt from gross income under section 10 (10) D for any sum received from insurance.

Insurance policies have a great role to play in assuring tax savings. As per the policy in India, all regular-premium life insurance policies (except pension plans) in India issued after April 2012, should offer protection cover of at least 10 times the annual income to be eligible for tax benefits under section 80C and 10 ( 10) D.

Choose and get a best life insurance policy to protect your family's financial condition in your absence.

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Four Unconventional Ways to Land a $5K Loan With Bad Credit

A lot of folks got lifted high during the early part of the 21st Century. Times were good and promised to be so for a long time. Fearless about future debt, many consumers over-extended themselves. The economy fell flat thanks in part to this vast over-extension and the banking and mortgage industry that fed off of it.

As a result, loans came due with no cash flow to pay them. Foreclosures became normal. Credit card companies felt the pinch as members defaulted. Credit ratings suffered greatly. Presently, those folks have no recourse to any venues that could offer them any financial relief. A minimal $5,000 bad credit loan is unreachable.

People in this situation do have some options that they should consider while they try to rebuild their financial lives as well as their financial credibility. These options are perhaps not those that they would normally consider, but the times are not normal.

One: Familiar Loans

In one way this is the best scenario to get a much needed cash injection. In another, it could be the worst. Embarrassment is probably the biggest bar to approaching friends or family members for cash to get you through tough times. On the other hand, the terms for repayment can be quite flexible and interest rates can be low or nonexistent. Certainly, a loan such as this does not require a credit check. It would be wise and friendly to draw up a contract so each party knows what is expected.

Two: Salary Potentialities

Should a person in need of cash be to uncomfortable approaching family or friends, they might look to the workplace. Some progressive companies have opportunities for employees who have hit on hard times. A credit union may serve the company and it may be very happy to extend a loan at low interest rates and easy payback terms. If there is no credit union, sometimes an employer can be approached for a loan that can be deducted directly from future paychecks. Sometimes this sort of loan is available to promote loyalty and productivity.

Three: Non-Traditional Bad Credit Loans

Should the previous venues turn up dry, unsecured personal loans are available, either locally or via online lenders. Traditional lenders such as banks are not going to be forthcoming with any help for borrowers with poor credit. Online lenders do not consider credit scores and are usually eager to grant unsecured loans in the range of $500 to $10,000. The requirements are few; having steady employment and a bank account are often enough. The application process is easy and you can usually have cash in your account within 24 hours.

Four: Neighborhood Pawnshops

Do not cringe. For centuries shops such as this have been able to offer affordable loans to people in the community who find themselves a little shy of cash from time to time. Your loan will require security in the form of personal property offered as collateral that is equal to the worth of the loan. You will sign a document acknowledging your obligation. If you do not return to redeem the collateral, the shop is allowed to sell it to cover the loan.

No matter what sort of credit history you may have, you should be able to put your hands on some cash using the outlets described above. Just be sure you do not allow yourself to become a victim to any sort of fraud. Just be sure any money you do get is used responsibly and paid back according to the terms of any agreements.

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Could the Great Chicago Fire Been Prevented?

  • Nearly 300 deaths
  • More than 2,000 acres
  • 17,500 buildings
  • 73 miles of road
  • 90,000 left homeless
  • $ 222,000 in damage
  • The destruction of between two and three million books from private library collections

What do these have numbers have in common? If you answered the Great Chicago Fire of October 1893, you would be correct. And while as devastatingly as fire is in Chicago history, it is not the only horrific fire-related Chicago history. In fact, just a few years later (December 1903) there were more than 600 deaths when the Iroquois Theater burned and later listed as the deadliest single-building fire in American history.

What is more interesting, is that while the exact cause of the Chicago fire has ever been determined, the Iroquois Theater fire could have been prevented had the proper measures been taken. History shows that a Chicago fire department captain, toured the facility and noted that "there were no extinguishers, sprinklers, alarms, telephones, or water connections; the only firefighting equipment available were six canisters of a dry chemical called" Kilfyre ", which was Normally used to douse residential chimney fires. "

He reported the problems to his superiors, but was told that nothing could be done, as the building had its own fire warden. In addition to the lack of firefighting equipment, the editor of the Fireproof Magazine , toured the facility and reported that there was an "absence of an seize, or stage draft shaft; the exposed reinforcement of the (proscenium) arch; the presence of wood Trim on everything and the obligation provision of exits. "

After each of these events, Chicago rebuilt. But what if there had been something in place to send out an early alarm? How many lives would have been saved had the Iroquois Theater taken the time to make the necessary changes? Yes, it was a century ago, and modern assumptions as we know today were not available, but that does not excuse the loss of life and property destruction.

So, with a proactive focus in mind, what are you doing to protect your home and family from fire, theft, burglary or mayhem of any sort? Whatever you choose to have utilize the services of one of the local Chicago home security systems or opt for a nationally recognized company, taking care of what matters to you is important. After all, as the early residents of Chicago learned, it's not much fun to clean up after a fire! Do not make the mistake of thinking you could be excuse form personal injury, property damage or a break in. Do your part to keep your family safe.

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Five Reasons Why You Should Work For the Travel and Tourism Industry

The travel and tourism industry is a massive global industry that caters for the needs of those who have to travel away from home in terms of providing facilities and services like hotel accommodation, air and road transport. Close to a billion people are involved in international travel in this industry which generates billions of dollars every year. Sometimes making a decision on which industry to work for can be quite hard given the many options available today across the globe. Below are five reasons why you should consider working in the travel and tourism industry.

1. There are lots of work opportunities. The travel and tourism industry has a lot of opportunities employment for those seeking employment. You can work in the aviation sector, road, rail and water transport, accommodation providers like hotels and lodges, leisure and business travel agents and tour guides. It is now also possible to work from home thanks to technology which is convenient for some people like mums who have a child or children and do not want to be far away from home.

2. The perks are good. The travel industry provides rewards that not many other industries do. For example those working in the airline industry can get free tickets for themselves and immediate family members to fly to any destination that the airline they work for flies to. Those who work as travel agents can get reduced travel fares and even pay reduced accommodation rates. Then there are the familiarization trips that those who work in the industry have the opportunity to take. Just think of an all expenses paid trip to places like the Seychelles, France, the Kenyan coast of Mombasa to name just a few.

3. It is a growing industry. In spite of the recent downturn because of the threat of terrorism and the world recession, travel industry players are optimistic about its growth. In good times and bad times people always get the urge to move. And with more and more places becoming accessible because of air travel and with both air travel and hotel rates coming down in order to accommodate peoples pocket there is reason to believe that the travel industry will continue to grow and more markets will be reached which is good news for service providers. Furthermore technology like the internet has made it possible to access markets anywhere in the world, at any time of the day.

4. It is never boring. Working in the industry almost means that you will meet new people from time to time. This is especially true for those who work as frontline staff in travel agencies, airline offices or hotels. Those who work in the airline industry as flight attendants have the opportunity to travel to different parts of the world, visit different towns and cities and see and experience different cultures. That can never be a boring job.

5. You do not need years of studying to work in the industry. You may love a certain profession but because of the years of studying involved in learning it you may be discouraged from joining it. Not so with the travel and tourism industry. Three to six months may be enough depending on what qualification you are studying for to get you started working for this exciting industry. Some people because of their love for the work and experience gained in certain areas of the industry have even started working and studied for the paper qualifications later.

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