Month: August 2021

The Impacts of Insurance Premium Financing

Just like every other loan, insurance premium financing has its impacts. The impacts may either be positive or negative and they may be risks or benefits 

Insurance premium financing refers to the short term loan one is allocated in order to get the funds to pay for their insurance premiums PFS.com

How the financing works 

It involves three parties; the insured, the insurer and the premium financing company. The insured is the party that has insurance while the insurer offers the insurance cover. The premium finance company is the third party that provides the credit to fund the premiums 

To get started, the insured signs a premium finance contract with the premium finance company as per the terms and conditions. From henceforth, the premium finance company pays the due insurance premium directly to the insurer as per the loan cost. The insured who now becomes the borrower then makes their payment to the premium financing company as per the amount billed instead of the insurer 

There are many circumstances or conditions that may make one to secure premium financing; 

Circumstances under which an insured seeks insurance premium financing 

When the insured is unwilling to liquidate their other investments in order to finance the regular premiums 

When there is a need for a huge amount of life insurance coverage for the purposes of business 

When one meets the lender’s guidelines on underwriting  

There are numerous benefits and risks for seeking insurance finance premiums, these are; 

The benefits 

Burden  

At times, one might be asked to cover an up-front premium payment which might be so large thereby becoming a burden. This premium financing helps relief the load of up-front premium payments 

Liquidity 

As mentioned above, the need for liquidity might push one to seek insurance premium financing. This premium financing thus allows for one to obtain coverage without necessarily having to liquidate their other assets. As such it helps one to stay afloat and allows for cash flow 

Time  

Since this financing can attract several insurance policies to a single premium finance contract, one can cover the entire insurance cover in the shortest time possible. As such it gives access to annual insurance cover 

Opportunity cost 

The main benefit of premium financing, it helps one save on the opportunity cost. The out of pocket money that could have been used to pay for the insurance premium can instead be used to pay for other investments’ installments that offer higher return rates 

The risks 

Fluctuations in collateral value 

With the changing economic conditions, the collateral value is ever under re-evaluation. In case the collateral value is below the standard rate, the insured is forced to provide more assets in order to stabilize the value of their collateral. This instability creates a disturbance in the liquidity of the assets of the insured 

Volatile interest rates 

Most premium finance contracts come with variable rates of interest. High interest rates are an extra cost to the insured as they exceed the loan balance. These accumulated high interest rates and exceeded loan balances make the premium financing expensive in the long run 

In summation, if the insured has enough assets to counter these risks they will enjoy the benefits of insurance premium financing without feeling the hefty pinch of the risks. 

Expert Advice for Traveling That Makes It Fun

You will see the benefits of taking time to make a great travel plan. By planning things like transportation, you will be able to enjoy your vacation without spending a lot. As with all plans, there are always improvements. These are some helpful tips.

It is important to keep a positive outlook while you are traveling. At airports, things can get very stressful. There are high tensions. Many people working there have a difficult time. Your experience with the company will improve if you keep a positive outlook, at least externally. Negative attitude won’t get you anywhere.

Traveling overseas to try birmingham escorts? Always have local currency in different denominations. If your wallet contains a small amount of currency, it is easier to be ripped by a taxi driver/shopkeeper. It can sometimes be difficult for small change to come by so keep your coins safe.

Knowing the culture and customs of the country you are visiting is crucial when traveling to another country. This knowledge will help avoid situations that could be embarrassing, dangerous, or downright embarrassing. You can avoid potential disasters and have a better relationship with the people of the area you are visiting.

You can travel light and have a great vacation or a difficult experience. You should think about this. You can almost always get it there if it isn’t with you. While there are exceptions to this rule, it is possible to reduce your luggage and make your trip more enjoyable by thinking about what you need.

You should always pay attention to the taximeter when you travel and require a taxi. You should make sure the meter has been turned on when you get out of the taxi. Taxi scams are well-known all over the globe. It’s easy to be scammed in foreign places. This simple tip will help you ensure that you get charged the right rate and not swindled.

You’ve done your research and have a plan. Now, you can put them all together to create a memorable and well-planned trip. Amazing! These tips can be used to enhance your personal travel plans. You might even find something you want to try on your next vacation.

THE THREE VITAL DISABILITY LAWS

Introduction 

The major federal disability laws help to guard the disabled people by protecting their rights. Below is a description of the three vital disability laws Share LTD Law

THE IDEA 

There are some of the education laws that require schools that are public to have the capability to meet needs(unique) of eligible students(K-12) with disabilities. The law ensures the following: 

  • Provides free public education(appropriate) to disabled children(eligible) 
  • Ensures education that Is special and meets the needs of the disabled is provided. 
  • It governs how public agencies and states provide intervention(early) to disabled people  
  • It authorizes formula grants for special education support and discretionary grants for demonstrations, research, technical assistance, technology development etc. 
  • It purposes to ensure full participation, economic sustainability, equality and independent living for disabled individuals. 

THE REHABILITATION ACT (SECTION 504) 

The law (civil rights) prevents schools that receive federal funding from disability discrimination. The schools ensure that there are no barriers to people learning. 

The law is directed to all programs receiving financial assistance coming from federal government. All entities like government agencies, post secondary and K-12 schools must follow this Law. 

The education entities that use internet in teaching are directly affected by this law. 

THE ADA 

This law is for the Americans who are disabled. It is a law of civil rights prohibiting disability discrimination from all offering services and goods to public, employers and schools. 

The law is intended to ensure that people living with disabilities are given  opportunities and right similar  to everyone else. The subdivisions of the law include: 

  1. Employment: It helps disabled people access employment opportunities similar to everyone else. It is directed to employers who have 15 plus employees.  It deals with provision of reasonable accommodation and addresses issues of medical inquiries and examination.  
  1. Public Services governed by the state: It helps ensure that people with disabilities get access to activities, services and programs of public entities. It also deals with discrimination in public entities on  disability basis. It gives guidelines on planning and self evaluation in relation to disability discrimination prohibition guidelines. 
  1. Public Services and accommodation governed by entities that are private: It helps to ensure that public accommodation places like privately owned hotels, centers, schools etc. do not discriminate people living with disabilities. It also sets accessibility standards by removing barriers in buildings and facilitates reasonable modifications while dealing with disabled people. 
  1. Telecommunications: It enables individuals with speech and hearing disabilities communicate via telephone by ensuring that the internet and telephone companies provide  intrastate and interstate telecommunications services. 
  1. Miscellaneous Provisions: It clearly indicates how ADA relates to state community and other laws. It also shows it’s advantage on the insurance providers, prohibits coercion and retaliation, use of illegal drugs as well as attorney’s fees.