Wealth Building Information


Are You Ready For Undesired Events?


Planning for the undesired, accidents and possible unknowns in life. Recently, a remote friend of mine died during an accident. I don't feel particularly sad, but I was shocked to know because the scenario was quite dramatic.

Whose responsibility is this when accidents happen? A more appropriate question should be: What to do and how to do BEFORE life-threatening accident happens.

To be more practical, have you prepared yourself a will?

I am not an estate planning lawyer/ specialist and thus in no position to advise anyone how to prepare a will. Seek a trustable lawyer (estate lawyer) and get yourself a valid will.

********
Sidebar:
If you are in the States, read this article on estate planning/ will preparation.
http://www.pueblo.gsa.gov/cic_text/money/estate/estate.htm
********

You should inform your closest relative(s), where your important info is, e.g. insurance documents, valid will, asset-related passwords, banking info and etc. It can save a lot of unnecessary work, pressure and worries, for your family members.

Getting yourself an insurance policy.

Or is insurance - a need or a want? It can be both.

For needs:

Maybe you have unpaid mortgage, unsecured debts and etc. Then you may need a life insurance policy to satisfy those needs. Depending where you are, medical costs can be sky-high and a medical insurance can be a god-sent.

********
Sidebar:
You should first identify your needs (life, medical, and disability). Every aspect involves specialization. Check out my other articles for general background info.

Bear in mind that you should always discuss with your spouse or closest relatives, in order to map out the whole picture. It's their "business" when accidents occur.
********

For wants:

You may have un-fulfilled dream, if you were to die before your wish being realized. You have to specify that in your will/ insurance policy. Seek your lawyer/ insurance specialist for more advice on this.

Seeking for an independent advice:

I have served in insurance industry for 5 years. I have not met an insurance agent who knows your need better than yourself. Almost everyone is vested with his/ her own interest, one way or the other. Seeking for an independent insurance advice is the best way to go. No matter how much you are willing to pay for excellent independent advice, it's hard to find one. One way to go is by hiring a fee-based advisor, instead of a commission based advisor.

Insurance broker or insurance agent:

Buying from a broker can be advantageous. If you are buying from a broker, make sure the broker is an established one. As for buying from an agent, you will be bound by his/ her advice limited to one insurance company. Factors to consider when choosing an insurance company:

You should check the insurance company financial strength before considering an insurance plan. This is a job you need to do it yourself. Checking the financial status of each prospective insurance company is vital. To your dismay, a company with too good rating may not be desirable as it may imply that the company is over cautious with claims. It could also mean the premium is over priced. In my opinion, an insurance company with AA rating in Standard and Poor/ AM best is a reliable indicator. Insurance plan: An agent may move from one company to another, but not your insurance company nor your insurance plan. Check the 3 factors before rushing to buy an insurance plan. They are flexibility, functionality and affordability.

Any insurance policy is a business policy for the insurance company. If an insurance plan does not sound for the insurance company, it will not be in existence in the first place. By that I don't mean insurance schemes are ripped-offs. It just means that we have to know the game plan before investing. Understanding different features of insurance plans is beyond the scope of this article.

Resource Box:
------------------------------------------------------------
Want to stay healthy and live wealthy? Grab THOUSANDS worth of health products & start a health related business today, both online and off! http://www.pushbuttonhealthguide.com
------------------------------------------------------------


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


WV News

'Community Wealth Building' opportunities available in new year
WV News
“(There were) some different ideas of how we can use what we have out here — our strengths — to continue to build on them, and to keep wealth building within our communities, rather than the wealth leading our communities,” Bristow said. Mike Battle ...

and more »


My Top SWAN Pick For 2018: Tanger Is A Wealth-Building Machine
Seeking Alpha
Tanger remains an industry leader that strives to provide superior experience to consumers, retail-partners and shareholders. Tanger has honed this skill over many years and has developed a reputation in the retailer community for being a marketing ...



See It Market (blog)

A Real Gauge For Investment Benchmarking & Wealth Building
See It Market (blog)
The New England Patriots are the winningest professional football team of the new millennia. While we could post a long list of reasons for their success, there is one that stands above the rest. In a recent interview, Patriots quarterback Tom Brady ...



HuffPost

Honoring Dr. King by Addressing the Racial Wealth Divide
HuffPost
Minneapolis, Minnesota: African American Financial Capability Initiative (AAFCI) Community of Practice is hosting a community event, The Color of Money: Bad Credit, Wealth and Race, on January 18th to share knowledge about how systematic barriers and ...

and more »


MilTech

7 Steps to Accelerated Wealth. A Fast–track Introduction to Accelerated Wealth Building Through Property Investment ...
MilTech
This is an enlightening book. I only wish it had crossed my literary menu 10 years ago. I would have been much the wiser and wealthier. Ian Leslie Corporate communicator and broadcast journalist. Want to learn how to use property to make $1 million ...

and more »


BizNews

Trump's aggressive corporate tax cuts: The start of a global wealth-building trend?
BizNews
EDINBURGH — Debate is raging in the US over whether Donald Trump's aggressive tax cuts will help or hinder the average American. There are statistics to present the case for and against the long-term benefits, depending on who is analysing the tax ...

and more »


BizNews

Meet Viceroy's Fraser Perring, after exposing Steinhoff, has more SA stocks in his sights
BizNews
EDINBURGH — South African asset managers like Coronation, Sanlam and Foord were so blinded by the hero-like status of retail tycoon Christo Wiese and his right-hand man Markus Jooste that they failed to spot signs of trouble at Steinhoff. Instead of ...

and more »


BizNews

The Ramaphosa Effect: Rand could strengthen to R10/$ as it hits 'golden cross'
BizNews
JOHANNESBURG — Apart from Bitcoin, the rand is probably among the world's most volatile currencies. Last year, analysts threw around predictions that a deteriorating political climate would send the currency hurtling toward the R20/$ rate. But that ...

and more »


Allstate and Allstate Agencies Seek to Bring 800 Jobs to the Southwest region
PR Newswire (press release)
"Allstate is a trusted brand and an excellent wealth-building opportunity for a small business owner. We are unique among all other insurers because the agent owns the economic interest in their business," says Wise. "Allstate agents can sell the ...

and more »


BizNews

Magnus Heystek: How to grow your wealth in 2018 – avoid Top 40 and head offshore
BizNews
EDINBURGH — Magnus Heystek, a financial journalist, businessman and financial advisor, isn't afraid to say it as he sees it. Periodically he comes under attack from individuals with vested interests for his views on where to invest and, perhaps more ...


Google News

home | site map
© 2007