Author: Dorota (Page 1 of 2)

Innovative Ways to Locate Life Insurance Companies

Finding life insurance companies can be overwhelming.  There are so many to choose from and each one offers something different.  There are many ways to find companies, but the process can be difficult and long.  Even then, there is still the process of comparison in an effort to decide which company and which policy to go with.  What is there was a better way?  Life insurance does not exactly lend itself to creativity, but here is more than one way to find the best insurance company to fit your needs.  It may be that you follow the old standby, the standard method of searching online or the yellow pages.  A somewhat more creative approach is to use the “word of mouth” method.  There is something even better though.  What if there were a company that could simply provide you a list to choose from that included various companies and policies that fit your needs?  Understanding each method is the only way to determine which one will work best for you.

The Standard

The standard way to find life insurance companies is to search the yellow pages or the internet.  Simply do a search and take a look.  What do they offer?  How does their ad look?  What does their website offer?  Give them a call.   What is your first impression?  How helpful are they?  What kind of information gathering process do they use?  Were they polite?  How quickly can they get you the information you need? Use the answer to all of these questions, make a short list, and narrow it down from there.  There has to be a better way though, right?

A Little More Creative

Ask around to friends and family and see what they have to say.  Which companies do they use?  Why do they use them?  Word of mouth is the most powerful form of advertisement.  The only problem is that what your friends and family need in relation to life insurance may not be the same as what you need in relation to life insurance. You still must go through the process of contacting each company and going through each agent to even get a list of the policies each agency has that will fit your needs.  There should still be a more streamlined, innovative approach. 

Innovative

Med life is the most innovative way to not only find life insurance companies, but to find the specific policies at each company that best fit your needs.  One list, one time comparison, one decision is all that is needed and Med life can make it happen. Using a simple form, pertinent information that relates to your insurance needs is collected and used to pull together a list of the most effective and cost efficient policies to fit your needs. 

Finding life insurance is never easy.  Just wading through all of the possible companies is difficult enough.  That is before you ever get to the process of choosing the exact policy that will work best as far as coverage and cost.  There is no need to spend more time and energy that you have to.  Let Med life handle the hard part, and all you have to do is take your pick.  It may not be as simple as all of that, but it is certainly more simple than it would be otherwise.

Are Crowdfunding Real Estate Deals Safe Investment Options?

A new trend is noticed amongst the people who try to raise capital for all kinds of ventures. This is known as crowdsourcing or crowdfunding. In this, people tend to invest their money for supporting projects of all types ranging movies, book and any other creative endeavor to the internet and software development. This means pooling money for diverse kinds of works.

Now, quite evidently, the entrepreneurs will like to draw this fund raising effort towards real estate private deals. In fact, the entrepreneurs are fortunate because modifications in the federal laws regarding raising capital have opened crowdfunding opportunities for real estate investing to business.

However, now the concern is – whether investing your hard-earned income in crowdfunding real estate deals will be a safe and smart way of putting all the capital? Will this option earn you any money? Well, it is feasible, but the odds are very much against you.

Experience is what matters

Firstly, investing in real estate and especially in development deals involve very high risk factor. The real estate market is never stable, and it can face a downtime situation any time. The market for real estate is very fluctuating. So, there is a high chance of facing considerable financial losses and pain on the part of the owner. Moreover, these types of crowdfunding deals mostly have relation with commercial investments, which are the greatest risky zones.

Here, a very crucial thing that you must always keep in mind is – Good investors and developers having an effective track record can only qualify for quality acquisition or development projects. They are only liable to get finances at a cheap rate from the banks which vigorously compete to have such deals. This will provide investors with immense profit, which is the ultimate goal of any investor.

So, which category of investors or developers will be chasing crowdfunded capital from public in general? These should be the inexperienced investors and developers or the ones who have limited financing choices left with them because of highly risk deals or low quality deals.

Proof lies in the detailing

You might have made the crowdfunded deal with the help of an experienced investor or developer; still there is the chance of striking a bad deal. In certain cases, the developer takes a huge amount of fees from your invested amount, or it might happen that your capital get stuck in some deals for years, if not for a decade or so. There are also scammers in the market who will be thankful to you since you have put your money in their wealthy lifestyle.

The road to private real estate deal is pretty promising. Therefore, in case you are planning to invest on some private real estate agreement, you must take the help of a ‘sponsor’ pitching your deal. He must be able to present you with the following details:

  • A report showing the amount of risky equity he has into the deal.
  • An analysis showing the way the deal can earn income for you and how is the project suitable to a particular area.
  • Detail proof and documentation revealing the past record of the sponsor involved in your deal. You can review his credit reports.

So, be wise and make a deal with professional assistance. It is not an intelligent act to gamble your capital in some real estate deal until you are able to afford any financial losses.

4 Most Common Mistakes To Avoid while Filing Tax Return Online

Making mistake in filing your Tax Return Onlinemay not cost your money but in the long run, it has the potential to delay the receipt of any prospective refund you might be expecting to get.

You may ask what tax return is.

The term tax return refers to the form containing your personal details, and declaration of income you received.

Presented here are 4most common mistakes that show up every tax season. As you consider your tax return for filing by the end of Juneof each year, ensure you have not made any of these mistakes.

Bad Math or Arithmetic Calculations

This is the most common error that occurs yearly on tax return application process. Mistakes in math calculation have the capacity to reduce your tax refund making you to owe more than you thought. Mistakes made while transferring figures from one schedule to another can be corrected immediately.

Therefore, filing your Tax Return Online can help to reduce arithmetic errors drastically. The built-in calculators in the online platform will do the work for you by adding, subtracting and inserting figures on forms as required. On your own part, ensure that the initial figures are correct.

Wrong Bank Account Details

Every qualified citizen of Australia can have a refund directly lodged into different bank accounts. This approach is an incredible option to save your refund cash, yet the more numbers you enter on the tax document, the more likely you will enter them wrongly. So incorrect bank account details such as account numbers and postal address could make you lose your refund money entirely.

Wrong account details may not pose a great threat especially when the refund is divided into many parts. Regardless of the possibility that your refund is going to only one bank account, it will be ideal to ensure you enter your bank details accurately.

Missing Deadline

Majority of taxpayers wait till the last minute rush before they file their tax returns. This scenario is not commendable because the taxpayer may not get everything right at the rush hour. On the otherhand, it is favourable to those whose documents are postmarked before June 30. Missing the deadline could attract late-filing or non-filing penalties.

The documents needed to complete and lodge a tax return with the Australian Tax Office (ATO) are PAYG payment summaries for each job. Also your personal details such as full name date of birth, postal address and tax file number should be handy.

A PAYG payment summary is a document from your employer showing the total amount before tax was withheld and the amount of tax withheld; andit is issued every year by the month of July.

Filing By Yourself or an Unauthorized Person

Anyone who has worked in Australia must complete and enter a tax return with the Australian Taxation Office (ATO) as prescribed in Australian law. It is generally described as employment income for travelers. According to Australian law, a tax return can be prepared by anyone, but only a registered tax agent can prepare and lodge a tax return on behalf of the individual and it is installed on your PC most of the times.

Many people find tax return filing daunting, but it is not actually all that tasking. While filing, ensure you make no mistakes and do it right.

Get Well Soon — Covering Illness in the UAE

When you’re making a long-term move to a country like the UAE, financial affairs are always a factor. You want to be able to make a suitable living and, in general, for everything to runs smoothly on the financial side. The last thing you want is to be stuck at home fighting illness when you have a mortgage to pay and should be at work earning money, which is why you should consider purchasing mortgage insurance.

Mortgage insurance provides a great safety net if you suddenly become unable to work due to illness or an accident, or become unemployed. Should any of these strike you down, having paid a monthly premium you’ll receive a regular amount each month (for a limited period) to cover expenses such as mortgages and bills. Facing the pressure of paying a mortgage in good health is hard enough, but having to cope with it when you’re ill won’t exactly make you feel better. 

The law of the land

UAE labor laws regarding sick pay mean that employers aren’t complete ogres if you fall ill. Pursuant to UAE law, provided you’ve passed the probation period you can claim full pay for the first 15 days of your illness, then half for the next 30 days. The chances are this won’t cover your monthly expenses, which is when the mortgage insurance comes into its own.

The one thing to be aware of, however, is that employers don’t dish out the sick pay willy-nilly. If the illness is self-inflicted, such as an injury while playing pranks on your colleagues during the working day (it happens!), you’ll be on your own as regards sick pay. The employer won’t foot the bill for your antics, and the insurer isn’t likely to pay out any dirhams either.

Playing doctor

Think before you call in sick, for another way you can end up doing yourself out of dirhams is to go online and diagnose yourself what’s wrong with you, rather than pay a visit to the doctor. It may not be fun having the doctor pressing and poking around, but at least they’ll diagnose correctly (and the insurer has less excuse to withhold payment claiming you’ve been irresponsible). There have been cases of people who have wrongly diagnosed their own ailments and convinced themselves they’re terminally ill when in fact they only have a minor ailment.

One of the consequences is that people head out and purchase the wrong medicines or administer them incorrectly. Doctors in the UAE have reported patients going OTT with steroids to tackle pain in the joints, leading to kidney damage. The other problem is that by choosing the wrong medication, they could also be preventing something more serious being uncovered.  

Everyone gets ill from time to time. It’s unavoidable. However, you still have to be careful how you go about it if you want to be sure of income while you’re on the mend. Mortgage insurance takes a lot of the financial pressure off in an age in which people would rather sacrifice their health than their income. And when home is far from home, you want to at least be able to say that if all else fails then at least you have your health.

Hire a Proficient Lawyer for Effective Pre-Nuptial Agreement

If you are about to tie knots with your partner, you might be thinking what might happen if things do not work properly. Indeed, a proper prenuptial contract might save you from a messy divorce and it can offer some vital insights for your financial compatibility in the coming days. There are a few reasons why seeking legal suggestions for preparing pre-nuptial agreement is beneficial for you.

Prepare Legal Contract According to Current Laws

You may conduct your research and find the basic information about the law of your country relating to the prenuptial contract. If you have hectic work schedule and do not wish to devote time to learn about the nitty-gritty of the relevant laws, then you must recruit a lawyer. A good lawyer may allow you to prepare a contract that fits your specifications and conveys what you wish to say.

 Suitable Legal Advice

Since most prenuptial contracts are examined by the court it is vital that you consult a lawyer that is best for this procedure. He listens to you intently and helps you prepare a contract with all your requirements included in it properly.  The best tip is to ask your fiancée hire a separate lawyer for individual consultation and does not leave her feel that you have taken advantage of the situation.

What are the things you must determine before hiring lawyer for pre-nuptial agreement?

You must ask your lawyer to prepare the final agreement only after you and your fiancé have decided on the essential terms. Make sure that you put these terms in written document and then give it to your lawyer. A prenuptial contract prepared by lawyer without taking your consent or suggestion may be biased and irrelevant. On the contrary, if you prepare an outline after thoughtful discussions with your fiancé and then present it your lawyer, the whole process of agreement drafting happens to be more balanced.

Steps To Be Followed For Finding a Reliable Lawyer

Finding an efficient lawyer who can help you solve your problem is not an easy task. You should not expect to get hold of a lawyer just by reading the newspaper advertisement or searching the phone book. You may find out the basic details from newspapers or advertisement but for choosing the lawyer you have to follow few more steps.

1. Go for the personal referral

The best approach is to take help of the people in your locality who have sought help of lawyer in the past for the same purpose. Ask the details of their lawyers and try to find out what exactly these people think of their lawyers. If you interact with at least ten or twelve people who have sought help of the lawyers for the similar purpose, it is expected that you will definitely find one for your legal help.

2. Consider a Specialist

Make sure that you hire someone who is specialized in handling pre nuptial agreement issues. In preparing pre-nuptial agreement or other similar cases on family law Jersey lawyers have gained expertise and experience. The best part is that these specialized lawyers offer quality services and also charge affordable fee from the clients.

3. Interview your prospective lawyers

Once you get the name and contact details of potential lawyers, your next step is to talk to them personal. You can send mails or call them directly to fix up an informal meeting with the lawyer. In this way you can get the scope to know a lawyer closely and also find out his mode of working.

During the interview it is important to check if you are comfortable working with the person. Irrespective of long years of experience, if you do not feel comfortable talking to the person during the interview, you must immediately look for the alternative option. You must always have faith on your instincts and hire someone with whom you are compatible with. Look out for the communication skills, promptness and other personal traits. Only when you are convinced you must recruit him for your job.

Follow these steps and find a suitable lawyer who can help you prepare pre-nuptial contract. 

Things you should know about a CIBIL Score

What is CIBIL?

CIBIL stands for Credit Information Bureau India Limited and it provides a credit report that helps consumers or loan seekers as well as banks or loan providers to make an informed decision regarding rejecting or approving any loan application. CIBIL was established in the August of 2000 and it is basically a credit Information company i.e. CIC or in simple words a credit bureau. Since last ten years it has played a very crucial and an important role in the Indian financial market.

CIBIL also keeps track of commercial and business payments that are relevant for loan approval or reflect their credit history. Banks and credit card companies supply the relevant information on a monthly basis to CIBIL, which helps compile the Credit Information Report (CIR) and generate a credit score. The Revenue bureau of India (RBI) licenses and approves the establishment of any credit bureau. Any credit bureau such as CIBIL is governed by the laws and regulation of The Credit Information Companies Regulation Act, established in 2005.

What is a credit score?

CIBIL has two crucial products namely the CIBIL TransUnion Score and the CIR. The CIR comes with a credit score that reflects the candidate’s credit history and explains their previous loan and credit card summary. Credit or CIBIL score can be any three digit number ranging from 300-900 and reflects upon an individual’s or a loan applicant’s capacity to repay the loan. CIBIL has fostered the concept and vision of Credit information sharing. This numeric summary of the individual’s credit history basically reflects upon the person’s financial stability. Higher score i.e. closer to 900 indicates higher chances of having a loan request approved and sanctioned easily.

The CIBIL TransUnion Score has its own definition of explaining what an ideal and a good score should be like. The concept of good score also differs from one bank to another. For some a score of 670 might be good enough but for others it might mean a bad score. Some loan providers require a score of higher than 750 also.

Role of CIBIL in loan approval process:

The CIBIL score acts like a screening stage in the loan application process. The CIR helps determine the customer’s eligibility in terms of their capacity to undertake more debt and then repay all the debt along with other financial commitments. After this preliminary screening process other relevant documents such as income and tax proof are required in order to complete the loan approval process. Having a credit report has helped getting a loan approved in a shorter duration of time and it also proves to be a cheaper and an economical method for the banks and the loan providers. This has increased the transparency in the loan approval process and helps a loan seeker be clear about what is expected out of them in their loan application process.

How to Use Inventive Problem Solving to Refine Your Business

Business today is full of perplexing problems, especially in early stage companies, just ask anyone with their masters in management. Often, the more traditional ways businesses used to solve problems are outmoded, or simply not fast enough. These are the times when you should employ creative problem solving methodology to fix a problem or come up with an alternative solution to an issue that is challenging your organization.

In the very earliest days of a company, you can use innovative problem solving to test an idea.  This type of solution can be derived from using a four step process:

  • What is the opportunity? The first step is to gain a complete comprehension of solutions already on the market. If you’re designing a consumer product, observe how it is already being used in the marketplace. What do they like? What annoys them? Have users invented their own work arounds for product flaws? 
  • What if? Identify these key points, and discuss them among your colleagues. Make a list of possible solutions and brainstorm different ways to solve the problems. This is a better system that just throwing ideas against the wall without having done the discovery process. You’ve identified possible needs here and are thinking of creative solutions.
  • What wows? Once you have identified the entire spectrum of possible solutions, contemplate and discuss which ones will work.  Look for those that fall into the “wow zone”, those innovations that will motivate the public to buy your product or service. Now you start to employ standard business models to each of the solution, and narrow the list down to some viable ends.
  • What works? You’re at the state where you can create prototypes or beta versions and bring them back to the group you originally observed. After initial feedback, return to the office and reinvent, hone where you need to. Small failures sometimes lead to big successes.

For more general problem solving, group brainstorming involves everybody, and can be a fun as well as productive session.

Why a group?   Better decisions. It can be argued that group brainstorming creates better solutions by affecting one of the three elements of decisions:

  • Criteria – group participation assures that more people that will be affected by the decisions will be involved in the process.
  • Cause/Effect – by including people with specialized expertise, you can be assured that more specific proposals, relevant to the problem, will be put forth.
  • Alternatives – groups tend to offer a higher quantity of solutions, as well as a greater variety.

The role of the leader in group brainstorming can take one of two paths, either as an advocate, or as a moderator. It’s best if one role or the other is taken, and that role not change during the session.

When you set out to resolve sticky situations in your company, answer two questions prior to setting out to find a solution:

1. What kind of problem is this?  A product modification, distribution, marketing?  Identify the core area of the problem prior to setting out to find a solution.

2. Who else has faced this type of problem?  Often it’s best to take a lesson from history rather than ‘reinventing the wheel.’  What companies or products have suffered from this type of situation in the past?  Did they solve it?  How did they solve it? What is the long term result of their solution to the problem?

Creative problem solving can be a great tool for most organizations, large or small, successful and mature, or just starting out. It’s important to identify a time or space specifically for this session, and not have employees or outside advisors coming and going during the session, checking email, answering phone calls.

You might consider having them “off-campus” in a nice setting like a hotel or resort, as many employees will consider that kind of session a “perk” and not “work”.

New loan service could be the refreshment the South African economy needs

One of the biggest challenges to any budding entrepreneur is having enough cash available at the right time. Although the pay-day loan service that Wonga offer is sometimes seen as a “tide-me-over” facility to cover an unexpected bill or an emergency expense, that is not always the case. Sometimes good deals and great offers come along with the chance of picking something up for a great price; but if you don’t have the cash available, you could lose out.

The wherewithal to seal the deal

If you run an online business buying and selling some sort of product, cost price is everything. Spotting a good deal and being able to act on it there and then can mean increased profits when you sell the product on. But you have to be able to get your hands on the cash when you need it. Whether you already have a business, or you are just waiting for the right moment to start one up, Being able to finance that special deal can be crucial.

All entrepreneurs have to start somewhere, and for most it means starting off at rock bottom. But according to a recent report in SME-South-Africa.co.za, South Africa is leading the race when it comes to fostering entrepreneurship in women. For many of these ladies (and their male counterparts too), access to short term high cost loans could make all the difference to getting their business start-ups off the ground, or making an important killing.

Doing your homework properly

The key of course is making sure that you can afford the loan in the first place. Short term is good because it means not having to create long-term debts. But it does come at a price, and that price is the interest that the loan provider will charge. If you take this into account, and you can still show a profit on your sales over and above the amount of interest you have pay back, you’re onto a winner and a pay day loan can be a great asset. Raising finance is never easy at the best of times. A pay-day loan could be ideal.

A new oxygen supply

The fact of the matter is that according to a report a couple of months ago in Global-Process-Servers.com, the “grass roots” of the South African economy may have been stifled by lack of access to short term funds. But with the appearance of the pay-day loan facility, that could be a thing of the past.

From tiny acorns

It has to be said of course that we’re looking at the small end on the market (the SMEs – with the emphasis on the S for small). But seeds have got to be sewn somewhere, and a great many are falling on the fertile ground of the virtual business world – online start-ups. As they say, from tiny acorns; mighty oaks do grow.

In a very real sense, the pay-day loan could be the boost that the South African economy needs to further foster and nurture its wannabe entrepreneurial young people. As well as being used to help some South Africans out of a tight spot, it could be used as an investment in South Africa’s future.

Case Study: Farm Business Consultants Comes to the Aid in the Purchase of a Woodstock Farm

Besides aiding farms and small businesses with their annual tax filings, Farm Business Consultants Inc. is a tax and accounting firm that can also help its Members in business situations that call for more specialized tax and accounting knowledge. Say, for example, when a business decides to expand through the purchase of another business. In a scenario such as this, tax knowledge and expertise is critical to assuring that the purchase is as smooth and as cost-effective as possible. And Farm Business Consultants serves as the opportune tax consulting firm to provide that critical tax knowledge and expertise that’s needed.

Take, as illustration, the example of a Woodstock-based business that was looking to purchase a farm several years ago. The owner of this business was a Member of Farm Business Consultants, and as a Member, he had been very happy with the quality of consulting service FBC had provided him. And indeed, the quality of consulting work that Farm Business Consultants would provide the business owner in his farm purchase would make him an even more satisfied Member.

Unfortunately, there was a problem, and a potentially significant impediment, in the business owner’s purchase of the farm. This small business proprietor was buying the farm with his spouse. However, as a partnership, they were not registered for the Goods and Services Tax, or GST. The fact that they were not registered had the potential of causing a serious problem and a serious expense, as the seller of the farm was a registrant of GST. Because of this, the couple would have to pay an additional $24,500 in order to buy the farm. This was an enormous expense that was being added to the farm purchase, one that the couple was not expecting.

Fortunately, the Woodstock business proprietor was a Member of Farm Business Consultants. If he hadn’t been, there was a strong chance that the couple would have paid the additional fee for the farm.

These were all points that Farm Business Consultants’ tax and accounting expertise were able to effectively and successfully address.

The FBC tax specialist working with the Woodstock couple immediately applied for a GST registrant number with the Canada Revenue Agency on behalf of the couple. The application was processed successfully and that action alone helped save the couple $24,500 when they purchased the farm.

The advice and consultation Farm Business Consultants provided to this Woodstock couple reinforced why FBC is one of the largest and most experienced rural income tax consulting firms in the country.

Compensation: some people just don’t get it

We all know someone who would rather go into hiding than stand their own round at the bar. You may have even been the victim of the thoughtlessness of a motorist, who after denting your vehicle fails to leave their details or an offer to pay for the damage. However, the following examples of stinginess will take some beating, and although some are admittedly quite funny, the majority are just down right insulting.

Racist runaway

This week’s papers feature an article about a rather rude and blatantly racist driver in Sydney, who after ploughing into a stationary vehicle left a note saying, “I’m sorry I reversed into your car. I am Asian and can’t drive. Here’s a hungry jack’s voucher.” Obviously intending to inject some humour into the situation, the driver failed spectacularly and incensed the victim so much that he has taken to the internet in an attempt to find out who the culprit is. To make matters worse there were witnesses to the incident, yet they failed to note the registration of the offending vehicle as they believed the motorist was leaving his contact details.

The Daily Mail newspaper provides further examples of other weird and wonderful offers of compensation, including:

• £2.48 compensation for not having internet for a month

• A year’s supply of fruit cake (I’d be pretty happy with this one to be honest)

• Vouchers that can only be used in the USA … plane tickets with that one please!

• A carton of orange juice that was actually out of date and going mouldy

• A free meal for a customer at the same restaurant they endured food poisoning

If you are seeking compensation for a personal injury, and would quite like something more substantial that anything mentioned above, give us a call on 08000 430 430. We don’t settle for anything less than you deserve, no matter how tempting the fruit cake.

Real compensation

Our solicitors are a seriously dedicated bunch and know how important it is to get satisfactory results as quickly as possible. You can rely on an efficient service from friendly, yet professional individuals. If you are fed up of being fobbed off and require representation from a reputable personal injury legal firm, you’ve come to the right place. We handle dog bite claims, accident at work compensation, medical negligence claims, motorcycle accident claims and many more types of personal injury claims. Your solicitor will help you claim damages that can assist with day to day living expenses, medical bills and household expenses that have built-up due to your inability to work.

What we do

We have many years of experience in this specific area of law and our reputation is known throughout the UK. A North West based company, we travel throughout the UK to meet the needs of our clients. Home appointments and hospital visits are just a couple of the services we provide and we do our utmost to ensure you are comfortable throughout the entire process

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