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How to Make Your Money Grow Faster

Only if fairy tales were real and genies could make stones turn into gold, would there be any need for savings? No, right? So in the real world if one is to enhance one's money, he must save. And here the rule goes – the sooner the better! Create a savings account early in life to get the highest benefits. We all know that savings and investments are the building blocks to a person's financial security and fund management.

Now, savings accounts can be of different types and each of these will give you some amount of return, depending on how much you save and the bank you choose. The fastest way to see your money grow in leaps and bounds is to have a money market savings account.

This account is as simple as a regular savings account. The only differences are:

  • The minimum opening balance requirement is more.
  • These allow limited (three to six) monthly withdrawals, unlike ordinary savings accounts.
  • These pay much higher interests.

You begin with more, you withdrawal less and you get high interest – naturally, your money grows faster than in the usual savings accounts.

These accounts center on the money market. The latter is a financial market in which money is borrowed and lent on a short-term basis, thereby giving some liquidity in the global fiscal system. In money market accounts, the bank benefits by putting a limit to your monthly withdrawals and you benefit from the high interest the bank pays.

However, it should be noted that the limited transactions have a fire in this that if the account holder urgently needs to withdraw some money beyond the maximum number of withdrawals allowed, he / she can do that with a charge of approximately $ 5 to $ 10 for each withdrawal.

If you deposit more, your actual fund will multiply manifold for the simple reason that the interest in these accounts is compounded daily. Although the rate of interest varies from bank to bank, all money market accounts generally work on compound interests. For instance, if you start your account with $ 100 and your interest is $ 1, your principal on Day 2 becomes $ 101 and interest is charged on this amount, not on the initial $ 100. So every time you add to the account, you are actually enhancing your interest amount and getting back more. This is one reason why many people consider these to be the best savings accounts .

Once you have this account, you will get a register to maintain your transaction details like the opening balance, withdrawals, deposits, etc. This will help you tally your records with those in the monthly bank account statement.

All money in these accounts is insured by an independent agency of the federal government called Federal Deposit Insurance Corporation (FDIC). So your money is always in safe hands when you bank on the money market.

Remember, it does not always take genies to do magic; you can be …

Renters Property Insurance – Get the Best Rate

You know you need renters property insurance to protect your personal property, but how can you get the best rate with a reputable company? Here's how …

Renters Property Insurance

Renters property insurance pays to replace your personal property – furniture, clothing, electronics, etc. – when it's stolen or damaged by fire, vandalism, or natural disasters.

It also pays claims made against you when someone injures himself or damages his property in your home, and it pays for your living expenses if your home becomes uninhabitable due to a fire or other disaster.

Save on Your Renters Property Insurance

Here are some ways to save money on your renters property insurance:

Comparison Shop

Renters property insurance can vary by hundreds of dollars from one company to another, so you need to go to an insurance comparison website to get rate quotes from different companies (see link below). Compare quotes from at least three companies then choose the cheapest quote that provides the best insurance coverage.

Increase Your Deductible

The deductible is the amount of money you pay towards a claim before your insurance kicks in. Renters insurance deductibles start at $ 250. Increasing your deductible to $ 500 can save you up to 15{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} on your promotions. Increasing it to $ 1,000 will save you up to 25{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}.

Buy Your Renters and Auto Insurance From the Same Company

Most insurance companies will give a 10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} to 15{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} discount if you buy both your renters insurance and your auto insurance from them.

Install Safety and Security Devices

Insurance companies will give you discounts if you have smoke detectors, dead bolt locks, window locks, fire extinguishers, and sprinkler systems in your home. If you do not have these devices, ask your landlord to install them, pointing out that it's to his benefit too.

Get Senior Discounts

If you're 55 years or older, and retired, you can get up to a 10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} discount on your renters property insurance. …

How to Save Money on Your Business Insurance Costs

Want to save money on your insurance costs? Got your attention now, did not I. Two issues that seem to come up on a regular basis that can cost you a great deal of money are current certificates of insurance from the various subcontractors you use to the use of proper classifications for your employees on your workers compensation policy.

Whether you do commercial or residential work your clients are asking that you do more complicated jobs. These projects require the use of many different disciplines to bring a job together. To complete these jobs many of you rely on subcontractors, they perform many and varied jobs. Electrical work, carpentry, irrigation, masonry, tree work and pool work are few that come to mind. As the contracting party you are responsible for all of the various entities that you use to complete a project. In the event that a claim for bodily injury or property damage is the result of the actions of a subcontractor that you hired you / your insurance company will absolutely be responsible for those actions. You purchased insurance for this very reason and hopefully you only hire subcontractors that are insured, thereby making their insurance company responsible. Insurance companies make a nominal charge to your general liability policy for insured subcontractors, they will change you the appropriate rate for uninsured subs. People that use a lot of subcontractors typically have a system in place to see that all subs are insured and keep updated certificates of insurance on file. The easiest way to see that you have current information on file is to make this information a condition of payment. It goes without saying that once payment has been made it is much harder to collect this information. The more organized you are the easier the audit process is and the less likely that you will be charged for uninsured subs or even insured subs that you did not collect certificates of insurance for.

Workers compensation and proper classifications. You've been surprised at how many audits I see where employees end up in a higher classification because people are unprepared for the audit, unaware of the process or just not informed that different classifications exist. There is a process and manual that dictates classification rules. The more accurate your records the more opportunity you have for premium savings. In some cases it is possible to split a single employees payroll between two codes, say landscape gardening and lawn maintenance. The key is accurate records and who ever meets with the insurance company auditor must be educated as to the process. The rate for every job description is different. I have clients that have as many as seven job classifications on their workers compensation policy, each with a different rate. In some cases rate difference between landscape gardening and lawn care is 100{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}; that adds up fast when improperly classified. …

Why It Is Important To Get Health Insurance Quotes Online

Do you know why companies fix different price for their insurance cover? They have different policies and rates. For the past ten years clients were not able to acquire quickly the policies through the Internet, as health insurance quotes can be obtained easily. Nowadays, there are ways to know about the health insurance quotes through websites which helps an individual or a family or business person. They make clients know the cheapest medical insurance policies instead of selling directly. It is easier for the clients to get the representatives for the quotes from the same state. By doing that so, we can make the agents to earn more with the better options and gain the chance to match up to other existing options. Those Online sites will enable the client to get more information to follow but many will be offering a way to buy those policies.

As all information can be obtained through online it is difficult for the one to select the best information and cover with its remuneration.

It is better to choose the policy to be selected during the initial stage itself. It will be easier to search in that category in which we decided to insure. It is also a must to select the best company which will give a better standard of quality and assurance. It is better to have the advice of doctors and get some medical treatments every year twice even if you are feeling well. It is essential to check on a health quote as it may make you to insurance at least in some simple health cover which will be benefitting you later. As the future can not be predicted it is the health that is to be concerned by everyone after a certain age.

Linking the quotes of various plans will be difficult. So there need to be an expert's advice to come handy. The Health insurance quote will be having the information of the policy which summarizes the premium, co-payment, first time deductible, coverage limits and the list of preferred partners and hospitals that the customer can be benefited due to the plan.

Through online the customers can have some more details to make their choice wide open. Numerous types of insurance coverage, like individual, family, group, business, private, short-term, dental, student, travel and international insurance were the options available to them. It will enable to choose the best suited for the customer. It is steadfast through internet to get the best health insurance quote . The mode of communication with the agents is globally grown nowdays. It will make clear for the client to be well aware of the policy to be selected for their benefit. …

How Personal Injury Lawyers Can Help To Receive Right Compensation

Both physical and mental injuries need time to get recovered. Plenty of medicines and remediation are there to treat physical injuries; but it is always difficult to heal someone's mental injuries – the invisible bruises.

Whatever the cause of physical and mental injuries is someone else's recklessness or just a mishap, the burdens of sufferings are left for those who are injured. As if it is the victim's responsibility to get back on the normal track of life again. Family members of car accident victims are also forced to compromise a lot. One can easily imagine how difficult it is to cope with such an unwanted lifestyle.

Blaming luck is not of much help. The victims of personal injury need medical attention, proper care and financial support for their families too. When another person or organization is accountable for your injuries, Tort Laws entitle you for compensation against all your damages. The person or entity at fault should pay the costs needed to recover victim's injuries.

To get out from the mental trauma that most personal injury victims experience, the feeling of getting justice helps a lot. The thought that a bit of carelessness and sense of responsibility of another person could save you from leading a homebound and bedridden life, is likely to add to your sufferings. Identifying the applicant as guilty before the law often gives personal injury victims sort of mental peace.

Consulting personal injury lawyer often proves useful. Local attorneys specialized in handling personal injury cases can help you file compensation claim in court of law. Professional lawyer helps victims pursue the case till the end. Experienced lawyers prepare the action plan and present your case in such a way that increases the chances of win.

While seeking legal advice give highest preference to local lawyers. Dealing with local attorneys saves you time and money. If you meet a car accident in Florida, see Accident Attorney Florida for consultation. Local lawyers have better insight of state laws. Here, they can help you in a more efficient way.

With years of experience, personal injury lawyers in Florida understand the needs of accident victims very well. Alongside moral support and mental peace, most personal injury victims experience a money crunch.

That is why Florida lawyers do not charge you any fees until the case is won. With that said, it becomes easier for you to hire a professional personal injury lawyer in Florida! All you need to do is find a reputed lawyer or law firm within your locality. Then hand over all the details of the case to them and that's it. Your lawyers would make suitable plans, contact you in case more documents are needed and represent you in the court.

The insurance company of opponent party pays the compensation most of the time. Your lawyer sketches the plan in such a way so that all your damages are calculated while compensation amount fixation in court. An expert lawyer would take all the care while presenting …

Important Points to Ponder Before Buying a Health Insurance Plan

A health insurance plan is an essential part of financial planning in this era of skyrocketing medical costs. Medical inflation has been aggravating at its full spree which makes it all the more important to buy a Health Insurance plan which could sponsor the hospitalization and medical treatment bills or expenses.

It is important to evaluate and look for the following parameters to get a best health plan for you and your family.

1. Check for the Waiting Period Clause

You must be feeling care free after taking an insurance, but your health insurance comes with a waiting period clause for specific conditions. There is an initial period clause which says that any hospitalization claim will not be admissible in first 30 days of the policy commencement apart from accidental hospitalization. The pre-existing diseases or conditions are also not covered immediately after you purchase a policy.There is a waiting period ranging from 2 years to 4 years as per the plan conditions in the industry. Also, there are certain surgeries and treatments like hernia, cataract, joint replacement, etc. which can be rented after a specific waiting period of 1 or 2 years.

So, it is important to check the waiting period clause before you finalize the health plan.

2. Check for Sublimits

There are certain capping or sublimits in your health plan which says that the specific kind of expenses are paid by the insurance company upto a specific limit and beyond that the insured or customer has to bear them at his own. For example: Room rent charges are capped on per day basis for different health plans. Some health plans also come with a mandatory co-pay where the portion of the claimed claim is to be born by the insured and the remaining is paid by the insurance company.

Check for the sublimits in your health plan to avoid any last minute surprises at the time of claim.

3. Check for Network Hospitals

The insurance companies offering health plans have certain empaneled network hospitals with whom they have a tie up. Any hospitalization or treatment taken in the stated or specified network hospital list is done on the cashless basis subject to policy conditions.

Check for the list of network hospitals of insurance company and ensure you have network hospitals of the insurer near your place of residence in case of any emergency hospitalization. Also, a treatment in non-network hospital may not offer cashless treatment and some insurers have a co-pay clause if you take a treatment in non-network hospital.

4. Check for the Claim Process

Different insurance companies have different claim procedures. Some settlement or administrator claims through Third Party Administrators (TPA's) and some have their own in house claim settlement unit to foster quick and hassle free claim processing. Also, check the claim settlement ratio of the insurer you intend to buy a health plan from to have a clear picture on the number of claims settled by the insurer.

It is important to have a …

The Difference Between Health Insurance and Life Insurance

Health insurance is designed to protect you against having to pay large medical bills by offering coverage for a range of medical procedures and treatments. By contrast, life insurance is primarily designed to pay out a lump sum in the event of your death.

Life insurance is typically purchased in one of two forms.

The simplest form of life insurance, and also the least expensive, is term life insurance which pays out only on your death. You can usually purchase term life insurance for as little as one year or for up to 30 years and the policy will only pay out if you die before the policy reaches its end date. You may consider purchasing term life insurance later in life or when you feel that your life is likely to be at greater risk over a short period of time for some reason.

The second form of life insurance is whole life insurance which is a combination of both a term life insurance policy and an investment plan. Your monthly (or annual) premiums are divided between the two parts of the policy, with one part of the premium providing you with insurance cover should you die during the period of the policy and the reminder being paid into an investment vehicle, such as a mutual fund or stocks and bonds. Whole life insurance is a popular choice as it provides you with both protection for your family and a savings vehicle, possibly to meet college tuition fees or to add to retirement funds. These policies are however normally heavily loaded with both fees and responsibilities and, if you are looking at a whole life policy principally as an investment vehicle, then there are certainly better options available to you.

The cost of both a life insurance policy and a health insurance policy depend to a large extent upon your age and health and the younger and healthier you are the cheaper they will be.

Perhaps the most important thing to understand is that life insurance and health insurance are designed to cover two very different situations and it is not a case of choosing one or the other, as many people think, but it is a case of deciding as two separate issues whether you need either or both. …

Homeowners Insurance – Do These Often For Your Own Good

We may debate on whether a home is the most precious investment you have. However, we can not argue about the fact that it certainly ranks among the most important. Homeowners insurance has there before becoming widely accepted as a smart move. But you need to check regularly for two reasons ….

Changes in your property or even the fact that your house might be a few years older now are reasons to do a check. It's a good idea to make sure your homeowners insurance policy is still relevant to your current coverage needs. Let's look at this example …

The value of your home when you bought your homeowners insurance might be a lot less than the cost of replacing it should anything happen.
Your homeowners insurance limits determine what you'll get in the event of a claim. Can you replace your present home with your present limits?

You can easily pay too much for homeowners insurance. Other insurance companies may have something better for you. The only way for you to find out is to know what current offers are.

Things may happen within the insurance industry that could cause a change in rates by insurance companies. An insurer is bound by law to inform you about changes in policies that affect you. However, you do not expect your insurance company to tell you competitors that offer better price / value. Do you?

Even where your details remain unchanged you can still save a bundle by visiting at least three insurance quotes sites. All you need to do is obtain and compare quotes from them. That's how you can ensure you always know what the best price is at any time and if you're paying too much.

You run two main risks if you do not check your home insurance policy and insurer from time to time: You could have far more or less than you currently need or you may be paying more or less than you should.

Quotes sites can help you find out if you're paying too much. Furthermore, they're show you the insurance companies that offer the best rates. …

Life Insurance – Tips For Lower Rates

Due to ignorance, some people have bought more insurance cover than they need. What is life insurance and how important is it? Who needs life insurance and how can I get quality life insurance at affordable rates? These are some of the questions that I would seek to answer in this article.

Life insurance is an insurance policy that you take out that would be beneficial to your dependents after you are gone. Although it could be considered as savings, it is not really of benefit to the policy holders but to the beneficies that is stated on the policy and only upon death of the policy holder.

Life insurance is very important because;

a. It gives the policy holder peace of mind in his / her life time.

b. It assures the dependents of the holder that they would be provided for even after the bread winner is no more. And,

c. It can be use to settle final expenses and debts of the holder.

Everyone needs life insurance. But those who need it most are those who have family and dependents who want to ensure that their loved ones do not lose their income after their death.

To lower your life insurance rates, you need to evaluate your line of work and leisure. There are some jobs that have been listed as dangerous jobs. A few of these are lumbermen, pilots, nuclear weapon scientist amongstst others. People who are involved in these are considered high risks individuals and have to pay high life insurance premium

Your body weight can affect your health. You are said to be obese if your Body Mass Index (BMI) is high. If your body weight is too much for your height and sex your BMI is high. So if you have a weight problem, you need to work to reduce your weight and keep it down. This would help you get lower rates.

Look around for the insurance company that offers the best deals in life insurance. Shop around. Do not just get one quote and run with it. Get many quotes and run with the best. …

Stick Out and Stick With Your Most Valuable Business Insurance Leads

OK, as an insurance agent you know the importance of selling to other businesses. A business owner can be a valuable referral source of insurance leads to any agent; so it's a source you definitely should pursue. But the real trick is getting your message to stick in the mind of that other business prospect.

If you are like many agents, you no doubt attend various social functions designed to introduce you to potential prospects in other businesses. Most cities or regions have organizations like the Chamber or Commerce that exist to promote business. These organizations are valuable to join for several reasons. For one, membership in them gives you increased legitimacy in the eyes of your current clients. In addition, almost all these organizations regularly hold events designed to get business people introduced to each other in a semi-formal setting.

Events like "Business After Hours" or "Networking at Noon" can put you in contact with other business people, but it's vital for you to follow-up with the Most Valuable Prospects (MVPs) you meet at these events. Here are some quick tips:

1. Enter the MVP's business card into your database.

This seems basic yet many insurance agents are purely toss the business card in a file somewhere. You need it accessible via your database so you can look them up instantly whenever you need to. Also, make sure you enter at least a ten to twenty word "note" about that person. These little "memory-joggers" are extremely handy.

2. Write a follow-up letter within two days.

This follow-up is not an email, it is a follow-up letter. Old-fashioned, post office mail. Write it on your company letterhead. If you have a formal "thank-you card" you use that's great, too; just make sure it has your company logo and contact info on it. The letter does not need to be long, just polite. And, make sure you enter one relevant fact about that person in the letter (pull it from the note you entered in the database, if need be).

3. Enclose a promotional item to reinforce your agency in the mind of this insurance lead.

The letter makes you "stick out" in the MVP's mind. Not one in ten people they met at the event will send a follow-up through the mail. The promotional item will help you "stick with" this business insurance lead . A fridge magnet is a solid choice because it hangs around for months or even years.

Remember, joining and attending networking functions are great, but you must Stick Out and Stick With your prospects to get them to either refer you or do business with you. …