Thursday, October 23, 2014

Advantages of Health Insurance for Family

Healthcare and hospitalization costs have gone up more than 60% over the past decade. Unexpected sickness or an accident can make a big dent in one's pocket. Hence it is now considered prudent to go for a family health insurance policy, which is used to protect the insured and his family against loss due to illness or injury. There are different types of policies available in the U.K, and people can chose the policy best suited for their needs. Premium rates depend on the limits of coverage provided, the treatment options offered and what the policy covers. In some cases, a co-payment clause is included in the policy, where the insurer pays about 80% of the treatment cost and the rest is borne by the policy holder. Health insurance can be bought by an individual, but is mostly provided by employers as a benefit to their employees. The insurance company provides a health insurance card, which can be used to avail cashless hospitalities subject to the terms and conditions of the policy. 


Benefits of health insurance: Family health insurance usually covers doctors' visits, hospital stays, surgeries, medical tests and related expenses, to mention a few. The costs of medicine, ambulance charges and incidental expenses are also covered. By and large, most of the hospital charges are met by the insurance company, but in some cases, a policy may cover hospitalization and related expenses only. Visits to a doctor may not be covered under some types of health insurance policies. Most family health insurance policies cover maternity expenses, ophthalmology and dentistry as well, but with restrictive clauses depending on the type of policy. 

How it supports the family: A family health insurance policy, once purchased, is usually valid for a period of one year from the date of purchase. The family can be assured of class medical treatment at reputed hospitals. Usually, illness arrives without warning, as do accidents. The policy holder and his family can rest assured that they will not have to bear the high costs of treatment, once they are covered. It provides a sense of security and peace of mind. 

Health insurance costs: The National Health Service normally provides coverage to everyone resident in the UK. This free healthcare facility cannot be termed as insurance, but it does provide medical care and treatment including primary, long term and in patient health care. Private health insurance is used as an adjunct to the NHS facilities and about 8 to 10 percent of the population is covered by some kind of private healthcare insurance. The major operators in this segment are Aviva, ACE Limited, Bupa, AXA and Preheat, though there are other service providers as well. The premium depends on the type of coverage, diseases covered and related conditions. The average premium for a family of 2 adults and two children can vary from 700 to 1600 GBP per annum, depending on the type of policy. Generally the premium increases with the age of the insured. 

Conclusion: If a family has a health insurance policy, their hospitalization and related costs are covered. It protects against unexpected costs arising out of illness or accidents and provides relative peace of mind. The costs notwithstanding, it is a good idea to invest in a family health plan and to keep the health insurance card handy, you never know when you or a family member might just need it.

Sunday, October 19, 2014

About Reverse Mortgages

A reverse mortgage is a kind of loan which is available for the persons who are at the age of 62 years or are older. In this, you can convert the equity part of your home into cash. It helps retirees. Because in their oldage their retirement amount is limited and it is very difficult for them to survive. Due to that they had to live in old ages which are very difficult for them. But now those days had gone. And reverse mortgage is a boon for the persons who have crossed their age of sixty. The persons can live in their residential places without selling them. 

Types of reverse mortgages:

The first one is HECM. HECM stands for home equity conversion method. It is created and regulated by a department. It is handled by the U.S. department of Housing and Urban Development. 

It is a government loan which is issued by a private bank. And it is insured by the Housing Administration named Federal. It is a part of HUD. There are many rules and regulations in this mortgage.

Proprietary reverse mortgage

These mortgages are different from HECMs. There are changes in this mortgage within time. These mortgages are privately insured by the banks and the mortgage companies that offer them. These mortgages are also called jumbo mortgages.

Features of reverse mortgage

  1. You are always owner of your home. You never lose ownership of your property. The lender can’t grab your property until you vacate it permanently or till your last survival. You are the owner of your property and your house till your last breathes.
  2. The amount of funds of reverse mortgage in California depends on his age, the amount of the property he or she possesses. The other factors are interest rates and upfront costs. The area of the property also a major factor to get reverse mortgages.
  3. Citizenship is also a factor which is counted. The person must be a senior citizen of the country.
  4. The best feature of this mortgage is that there is no need to pay any kind of installments to the lender back. In this mortgage, lender gives you amount at the end of each and every month. Because of this feature of these mortgages, these are called reverse mortgages. These are totally opposite to the traditional mortgages.
  5. You are secure even after your retirements.
  6. It is like you are getting salary at the end of every month. You get monthly income without working or without going anywhere.
  7. Your life is easy till your last breathe.
  8. Reverse mortgages helps you to lead a peaceful and simple life which includes no tensions and worries.
  9. There is no tension to pay installments. No bank comes at your house to remind you that you have to pay your installments.
  10. You are a reputed person who can live his life with a standard.
In this way reverse mortgages help you to lead a peaceful and luxurious life.

The new car tax system: Are you complying with the rules?

In case you hadn’t heard, October heralded the biggest change in the way we tax our vehicles for almost 100 years. As of now, the paper tax disc, which we have all become so used to, has been replaced forever as the DVLA opt for a more cost efficient, environmentally friendly and modern database.

car tax system

But as you rip-up your old disc for good (actually don’t do that, some are going for a fortune on ebay!) make sure you are complying with the new changes to the UK car tax system.

Here are a few things to remember...

1. Make sure you’re still paying your tax

Just because we no longer have to display the tax disc, cars, lorries and motorcycles still need to be taxed. It’s just that the information is kept by the DVLA, who can check to see who has paid, and more importantly, who hasn’t.

2. Choose how regularly you want to pay

The DVLA’s new digital database means motorists can now choose to pay by direct debit as well as deciding when they make their payments. Pay annually, every six months or monthly if you wish; all you have to do is visit the DVLA website or go to your local post office.

3. Don’t think the authorities can’t tell if you’ve paid your tax

Just because you no longer have to display a tax disc, it doesn’t mean the DVLA can’t tell if you’ve paid or not. Automatic number plate recognition (ANPR) cameras will be used to catch those who haven’t paid up and the police will also be able to cross reference registration numbers on the Police National Computer system and fine drivers up to £1000 if they haven’t made a payment and are subsequently committing a serious motoring offence.

4. Wait until your tax is not due just yet

If your tax is not due for renewal yet, don’t worry. You don’t need to do anything. You can even take your old tax disc off the windscreen. When it comes time to buy your road tax, you can renew it using the new system.

5. It’s different if you’re buying or selling a car

As of October 1st, if you buy a car, you’ll need to tax it yourself. This is because the system of transferring road tax with a vehicle once it has sold has now ended. If you sell your car, which still has tax remaining on it you must tell the DVLA, they will then give you a refund for any FULL MONTHS of tax you have remaining.

6. Foreign countries are aware of the changes

Though most European countries still require drivers to display some kind of disc or proof of road tax payment, UK cars will not need to show anything when driving abroad. However, the government assured drivers that all European authorities have been told about the new system.

7. Check the status of your tax online

You can look up the tax status of any vehicle by using DVLA’s Vehicle Enquiry System. Don’t worry, you will also still be sent a renewal reminder when your vehicle tax is due to expire. But in the meantime you can look-up the tax status of any vehicle by using DVLA’s Vehicle Enquiry System.

8. Still inform the DVLA if your car is off the road

If your vehicle is registered as off the road (SORN) you’ll already need to inform the DVLA in the same way that you always did. But it’s worth remembering you’ll automatically receive a refund under the new scheme, but only for any FULL months’ worth of tax that is unused.

Author Bio: Written by journalist, blogger, writer and now keen collector of old car tax discs Matthew Crist on behalf of Caddick Davies Solicitors, motoring defence specialists .

Monday, October 13, 2014

How to Make Money While Traveling?

Traveling is hard if you don't plan it well or if you don't have enough money. Luckily for us, we live in the age of technology and modern facilities and if you want to travel, you can easily find opportunities that can help you earn some extra cash while you're away on a vacation. Here are some ways to make money while traveling: 

1. Trading your belongings for money

While on a trip, you can buy and sell the stuff you have online on websites like Amazon and E-bay. This is very profitable if you have novelty items that are not available in the country you are traveling to.

2. Use your skills to perform street art

If you have the skills in performing art, you can always earn money by doing what you're good at. Many countries encourage you to perform your art and it can be a hit with the residents.

3. Arts and crafts

Just like selling the items you owned as explained previously, you can utilize your trip as a chance to show and sell things that you have made by hand. Various arts and craft items can be sold for good prices while traveling abroad.

4. Teach language to the people

For native English speakers this might be the most profitable way to earn some good money while traveling. The language skills of native English speakers are always required in several countries in the world. You can either do it casually or join an academy as a language instructor. It's also beneficial for people who are not native speakers, but have a good command of the English language. You can teach them your own language as well if you happen to travel to a place which has the demand for that.

5. Become a private tutor

Just like your language skills, you can use your ability in a professional area to train people. There is constantly a requirement for work skills in several regions. You can be a software developer and train people in using various software and the techniques. Training and tutoring can be hard, but they pay generously.

6. Develop apps

In this age of smart phones, app development has turned into a profitable business. App developers can be mastered with a little training in coding and software. You can use your free time traveling to develop apps and sell them online. Not only is it profitable, but if you have some talent in this area, you can turn this into a full-time job.

7. Write about your travels

Travel blogging is a popular part of the social media experience. Travel blogs generate a lot of traffic to their pages and are a ripe source for money through advertisement. Just make sure you write in a friendly tone and use lots of pictures.

8. Doing odd jobs

People with good English skills are always needed in restaurants and hotels. While traveling, you can do part-time jobs at these places for some extra money. Besides that, there are other opportunities, like babysitting or housekeeping that are readily available.

9. Working on a cruise ship

Everybody dreams of getting paid to travel. What better way is there than to work on a cruise ship? The working hours are erratic and it can be a nerve wrecking job, but you will get the opportunity to travel all over the world for free and get paid for it too.

10. Seasonal jobs

There are many months throughout the year where countries require some extra pair hands to do the work. It can range from working in fields in engineering jobs. Be on the watch out for opportunities that come with peak working season.

Conclusion

Traveling shouldn't be a burden for your pocket. With these tips, you can cut the impact your vacation can make on your finances and make the best from your time away from work. 

Author bio: Alina from UK, travel enthusiast who loves to share her travel stories on different blogs. Presently she working on behalf of Sri Lanka visa which provides a visa assistance to visit Sri Lanka. She has 4 years of writing experience as a fee lancer.

Tuesday, October 7, 2014

Bad Credit will not Stand in the Way of Getting a Loan!

Almost all the people would like to obtain a loan. It may be for a house mortgage or buying a latest model car, or anything else. There is an assumption that one cannot get a loan if he has a bad credit. Nothing can be far from truth! It is agreed that getting a loan, with bad credit, may pose a few problems; but it cannot be said that possibilities of getting a loan with bad credit are completely ruled out. If you indulge in self-retrospection, you will realize the causes which led to your having bad credit. When you go in for a loan, you should be prepared to explain this, in clear terms, to the lender.


When you contact the prospective realistic loans lender, apart from giving a complete picture of your present financial status and affordability, you should make it a point to mention specifically that your credit was otherwise good. Not all lenders are alike in their approach. There are a few who are practical and lenient towards such borrowers; they may be inclined to favor you with a loan. While accepting the loan, knowing your affordability, you should take a loan only for the amount that is actually needed. You have to keep a note of the interest rate, which will be higher compared to loans with normal credit. Since the loan offers differ from one lender to another, you can gather complete details of loan offers of various lenders, for the purpose of taking a decision in the matter. 

There are some lenders who are known as ‘predatory lenders.’ They charge rather highly prohibitive rates of interest. They have certain provisions, to safeguard their interest, in the event of any default by the borrower. Though these provisions may seem unreasonable, you cannot complain. You have to only at a distance from such lenders. After analyzing the details connected with the loan offers from different lenders, you can come to a conclusion as to which offer is reasonable and acceptable to you. Please ensure that there are no hidden clauses in the offer. All said, it is better you go through every detail mentioned in the offer minutely before signing the application for loan. 

You have bad credit; banks are not favorably disposed towards your loan application. Still, you need not worry. The world is not lost! The world is big and there are other sources from where you may be able to get a loan, even with bad credit. There is one good option, i.e. an online loan. It is quite easy to have access to many of the online lenders. Processing is done quickly and without any hassle. The online lenders would only need complete details relating to you. There will be form available online and if you just fill it up, giving all the details as required, and submit it online, that is enough. The lenders will process your application immediately and approve the loan in no time. 

Though a few lenders ask for collateral, others give loans without collateral. They may charge slightly higher rate of interest and there may also be some fees payable by the borrower. It is for you to distinguish between a reasonable and an unreasonable lender. Since the lenders, in general, make it a point to check the credit score of the borrower, you should take some efforts to keep the credit score at an acceptable level. You could make things easy by spotting lenders who are least bothered to check the credit score of the prospective borrowers and try to have negotiations with such lenders. Such lenders do mention in their offers that they are not interested in having any check of credit scores. After selecting one such lender and after satisfying yourself with all other terms and conditions, you can obtain the loan, without any fear or worry.