insurance

Single Premium Whole Life Insurance (SPLI) Explained

Most of the time, when we purchase life insurance, we agree to make monthly, quarterly, or yearly payments. There are some whole life policies which can be paid off, usually over a period of 7 years or more. But another way of purchasing coverage has begun to get more attention slowly. This simply involves making one large payment in the beginning. The single premium is set to fund the coverage for the rest of an insured person's life.

One obvious advantage might be the guarantee that life insurance is taken care of without having to worry about paying any more bills. One obvious disadvantage, as you may have already guessed, is the fact that this first premium must be pretty large.

Who Considers SPLI?

The type of person who may consider this unusual way of paying for a life insurance policy would have a lump sum of cash that they are sure they will not need to spend for the next few years. They will also want to leave money to their estate, and they want to turn the cash they have into a larger life insurance death benefit. This way they can be assured they will be able to leave money to their kids, grand kids, or a favorite charity ..

Advantages of Single Premium Life

  • Set it and Forget it – You can make on premium payment, and be assured you have funded a lifetime policy.
  • Estate Building – Most of the time, the cash will buy a death benefit of several times the original premium amount. For example, let us say that that a healthy 65 year old could turn $ 12,000 into a $ 100,000 death benefit to leave behind. That was just an example. Premiums will vary.
  • Cash Value – Since the one large lump sum fund coverage, the actual cash value of the policy should grow very quickly. The policy may have enough cash value to be borrowed against or cashed in at some future point. The cash value may grow by a set interest rate, or it may grow my some market index, like the S & P 500. This will be specified in the particular policy you buy.
  • Policy Provisions – Policies may have an accelerated death benefit, or provisions for early surrender or using some of the face value while the insured person is still alive in special cases. These cases could include terminal illness or nursing home confinement. These functions can give you a policy which performances "double duty."

Disadvantages of SPLI

This product is not for everyone. Look at some of the disadvantages to consider.

  • You Need The Money – You must have the lump sum payment. Of course, the premium will vary by the age and health of the insured person, the insurer, and the amount of coverage you buy. The premium is usually several thousand dollars. This must be money that is not needed for the next few years, or

Many healthcare and insurance related companies have experienced high ASA times (Average Speed of Answer) and problematic Call Handling Times (CHT). Others have experienced challenges with ABN (Average Time to Abandonment) and ATB (All Trunks Busy). A company’s call center is the often the first contact, the critical initial claims intake responsible for customers when problems or losses occur. As with most call centers, there are times when in-house occupancy rates are at 90% – and no one is available to answer the phone.

A company call center could certainly return the call an hour later or the next day, but that may be too late, as the customer may have already contacted an attorney or progressed down a more problematic or costly path than necessary. For claims related issues, industry experts agree that a cycle time delays can increase the cost of your claims dramatically and will simultaneously reduce the effectiveness and level of customer service provided by your organization. This is why many of today’s contact centers employ outsourced call centers for overflow, nights and weekends. The around the clock claims professional staffing with overflow capacity offers improved call center responsiveness and enhances the overall customer experience.

By leveraging a contact center for overflow, nights, weekends and holidays, companies can improve organizational by as much as 40% while enhancing the customer experience. All of these things can positively impact the bottom line of many if not most organizations. Today, many high quality call centers outsource FNOL (First Notice of Loss) for overflow and non-peak times, while some outsource their entire operation. JD Power and Associates has stated that insurers with longer than average cycle times of 14.8 days are rated in the bottom 50% in terms of customer satisfaction.

At 80% or greater call center occupancy in-house staff is extremely busy, turnover often increases due to burnout, customer service is adversely impacted and many calls go unanswered. At 50% occupancy staff has flexibility with down time, customer service levels are often very good, and most calls are answered. At 20% occupancy, essentially every call is answered, ASA times are short, customer service is superb; however efficiency is low and the cost per claim is astronomical. Finding the right balance with outsourced first notice of loss (FNOL) solutions can allow call centers to improve efficiency and reach optimum effectiveness.…

The Heart Saver CT screening for heart disease (also known as the UltraFast CT or Calcium Scoring CT) has been available for about 10 years now. This study looks for calcified plaque in the arteries of the heart. Plaque, put simply, is the fatty, waxy type of substance produced by the liver that proceeds throughout the bloodstream. You may also hear or read this referred to as cholesterol. Frequently, plaque will adhere itself to the walls of arteries and over time solidify. Then, it becomes known as calcified plaque. The Heart Saver CT looks specifically at the arteries of the heart searching for calcified plaque.

It is a reasonable test for those with the desire to satisfy their curiosity regarding the probability of future heart disease. The test takes about a half an hour and there are no needles or preparation involved. This study is NOT for someone with known heart disease. Since its purpose is to be a predictor of future disease, it would be a waste of money to do the test if you already know you have heart disease. The Heart Saver CT is an excellent tool when used properly.

In many instances, this study is done when a person is over the age of 35 and more likely over the age of 40. The cost can range from $100 to $300 and some insurance companies will cover this test. However, be prepared to pay out of pocket even if your insurance company will cover and then seek reimbursement. Many facilities that offer this study will not file your insurance for this particular test. The reason for lack of coverage is some insurance companies still consider this test experimental. If you have a family history of heart disease and / or high cholesterol then you should consider this test.

There is potential good and bad news about your results. If your calcium scoring result is zero, then congratulations. Zero is the perfect score meaning there is no indication of calcified plaque in the arteries of your heart. You do not have heart disease from atherosclerosis. However, any score higher than zero means that you do have heart disease. Many people do not understand this fact. Even though you have not had a heart attack, yet, an elevated calcium score means that someday you just might. Calcium score can range into the thousands of an unsuspecting victim. This person would be the epitome of a ticking time bomb. The type of person you hear someone telling about, “He was out mowing the yard and just dropped dead.” A score like that in itself makes this test a must do for anyone over the age of 45 with no known history of heart disease. Lives are saved because of it, but that is part of the good news.

Now for the bad news: Another thing many do not realize is while some insurance companies will not cover this test, they will consider it for future coverage and premiums. Again, …

Owing to the reasons that paintless dent repair is fast and efficient it is quickly becoming popular. But there is a dearth of trained professional technicians who are skilled in the techniques that are required for this trade. If after training you want to start your own business then here are some tips to keep in mind when starting your Paintless Dent Repair (PDR) Business.

1. Survey the Market:

It is very important that you consider your potential market. Decide who you will work with? Do you have any connections at a body repair shop, wholesalers, car dealer, detail shop, service centre, etc who will hire you once you complete your paintless dent removal course?

2. Survey your Competition:

Collect information about how many paintless dent removal technicians there are in your area and how are they operating in your potential market. What are the charges for their services and what kind of a relation does your competition have with your potential market as well. Note all these things down for reference.

3. Register your Business:

Check out your state government’s website and get information about how to register your business. Make sure that you choose a business name that connects you to the paintless dent repair industry and you could even use the words like dents, dings, dent repair, etc. Complete the entire registration process or even get some professional help.

4. What are your State’s Requirements?

The rules and regulations vary from state to state and so it is important that you are completely aware of all the requirements for setting up a PDR Business. You may need business insurance, sales license, shop space, etc. You could ask a local dealer or the office manager of a PDR company what their dealers require from their vendors that is you.

5. Get Trained and buy the Tools:

You need to get trained at a very good academy so that you are well versed in the techniques and skills required in this business. You could consider the name Dents R Us for your paintless dent removing training. For more info check them out at http://www.dentsrus.com.au. You will also need to buy your tools for the job and you need to practice as much as possible.

6. Get Business Material:

You will need office stationery, business cards, invoices, etc and even some accounting material.

7. Don’t quit your Current Job!

It is important that you keep your current job as you will need some income to support the business and the family till you are really on your way.

8. Practice on your Acquaintances:

As you begin your business you will need as much practice as you can get and one of the best ways is to practice with the cars belonging to your connections and acquaintances. Of course not many people will hand over the keys to their BMWs, until you are sure of your skills but till then you can even ask your local body shop to give you …

While most people prefer other businesses, some people get into laminate flooring business. Like any other business in the world, if done right, it’s a quite profitable business. Laminate flooring has been successful since it was introduced on the market, first in Europe and then in the United States in 1996.

Here are some basic steps to follow before you start your laminate flooring business:

1. You should make specific short and long-term plans with clear goals and ways to evaluate them. Determine the resources needed such as the place from which you will work, people, money etc.

2. You should have a pretty good idea of what products and services you will sell and the benefits people who buy them will get.

3. Find important information about your competitors like their strengths and weaknesses because it helps you in setting a competitive bid. Always try to be unique.

4. Focus your promotions effectively by knowing who will buy your products/services. Think about the different promotion strategies and find out the best that suits your business. Focus your promotions in reaching the greatest number of customers.

5. Set up your laminate flooring business. Find out the start-up costs (gear, furniture, licenses etc.). Also find out how much you will have to pay to stay in business. These costs usually include rent, taxes, utilities, promotional expenses, etc.

6. Insurance is a must. There are several types of insurance that you must have like health and property insurance, for example. You may have to talk to an insurance agent to determine what suits your particular situation.

7. Take care of all the legal matters. You should contact your state’s department of commerce and industry and find out all the things you need to do in order to start your own laminate flooring business. In most cases you need to get a business license from your local municipality.

8. Start a business checking account and use it to perform any money related operation like depositing your income or pay your business related expenses. Setup a fairly simple bookkeeping system to record all your income and expenses in a way that makes tax preparation and monitoring your situation easier. Ask your tax advisor or accountant to make sure you do this right.

This list is far from a complete one so use it just to learn the basic steps to be taken when starting your own laminate flooring business. You should consult a business professional and do additional research to make sure your business will be successful.…

One of the most essential aspects of having a successful final expense lead generation campaign is creating a script which works. While many companies that provide telemarketing will have scripts on file its recommended that you create your own script, at least as a reference so you get the sales opportunities you want. The reasons for this are:

  • You will always know your business and clients better than the telemarketing organization you hire.
  • A script crafted for your particular offering will sound better than a generic script that prospects may have listened to from your competition.
  • You can make the script give you only the information you need and match your offering exactly.

While its vital that you have a script that works for you there are a variety strategies which you can use to enhance sales.

  • Keep it uncomplicated, let the customer know why you are calling as well as why they should care.
  • Do not waste their time, if it requires 6 words to get to a point don’t write 10.
  • Keep the aim of the call in mind when creating the script. If you are producing a lead or setting an appointment that should be the goal of the call. Nothing else should be included.

This is the basic format you can follow:

Hello, may I speak with XXX. My Name is NAME.

I’m calling from XXX Financial Company. I’m calling regarding a free quote on final expense insurance that we are providing people in the area.

Our plans can save you up to $xxxxxx dollars on your funeral expenses and any outstanding debts you may leave your family.

If the prospect asks: “what is final expense?”

Final Expense is mini life insurance that takes care of any outstanding expenses and burial costs that you leave behind. It keeps your family from getting stuck with the bills.

Rebuttals to common questions:

  • The plans are extremely affordable and we have the most competitive prices. We can even work with individuals on fixed incomes.
  • This will only take a couple minutes and can save you and your loved ones thousands of dollars!

I just need to get some basic information…

  • Verify name
  • Husband age, wife age
  • Do you smoke, does your wife/husband smoke?
  • Do you have any serious medical conditions?
  • Verify the address

Thanks so much for your time. I’ll have one of our specialists follow up with you and get you a quote on a final expense policy. Have a great day!

After you have your script completed it isn’t set in stone. It can call for some changes based on the telemarketer’s feedback to get things running smoothly after the calls start to be made. You will also want to come up with answers to questions that prospects may ask during the call.…

According to a recent survey by an independent insurance company, 66 percent of motorists, as a result of unwelcome attention from back seat drivers, have been involved in traffic collisions. This type of distraction is quite common and has led to car accidents for nearly 25 percent of drivers – which ultimately drives up auto insurance costs.

The survey indicated that more than two-thirds of women and 70 percent of drivers over the age of 55 have been involved in a collision due to distractions attributed to passengers within their vehicles.

Teachers ranked high among preferred passengers

Teachers have been named among the most patient of passengers. Most drivers surveyed said that they prefer to drive with work colleagues rather than parents or domestic partners who tend to be the more disruptive among back seat passengers.

The research highlights that having passengers in the car can distract drivers from the road and lead to road traffic accidents, which in turn have an effect on car insurance policies and can result in personal injury compensation claims being made. This generally results in a rise in premium costs as well.

The findings suggests that as many as one million accidents and near misses have occurred when a passenger makes unsolicited suggestions or gives unwanted advice. In not keeping their opinions to themselves, passengers are also instigating a large number of drivers (nearly 1.7 million) to engage in reckless behavior, including:

1. Speeding

2. Switching lanes suddenly and

3. Braking unnecessarily

Research also found that 60 percent of backseat drivers genuinely believe they are being helpful when they offer instructions, while almost a fifth claim they only speak up because they fear for their own safety.

The most common backseat driver behaviors include: volunteering unwanted directions, inopportune panicked gasping, and constantly checking the speedometer.

Aside from a lack of concentration that drivers suffer from when provoked, almost a third of motorists get stressed and annoyed by their passengers who generally are attempting to be helpful. Women, generally more easily irritated, will often actually stop the vehicle after becoming upset from backseat criticisms.

Domestic partners top list of driving irritants

Domestic partners take the blame for being the worst culprits, criticizing from the backseat or passenger seat, with over half of those questioned describing their other halves as ‘backseat drivers.’ Unsurprisingly, more than half of all motorists think they are a better driver when they are alone in the car as they are able to give driving their full attention.…

Many good quality, single tenant, net leased properties qualify for both credit tenant lease (CTL) financing and conventional commercial mortgage lending. Net lease property investors should consider the pros and cons of each before deciding which type of loan to commit to.

CTL lending is generally best for the long term income investor who wants permanent, high leverage, fixed rate, fully amortized financing and desires speed and certainty of execution. Bank lending has a lower initial (but not overall) cost and can offer a larger variety of terms and conditions. Banks are best for investors who need options, don’t need maximum leverage (have large down-payment available), and who are not sure if they will hold a property for the long run.

The Difference

CTL lending combines aspects of commercial mortgage lending with specialized investment banking in-order-to close deals. A CTL banker issues and sells private placement corporate bonds that are secured by the lease on the real estate. The proceeds of the bond sales are used to fund a commercial mortgage loan for the borrower. The loan is administered by a third party Trustee throughout the life of the deal.

Traditional commercial mortgages are standard loans secured by mortgage liens against the real estate, the income the property produces and the credit of the borrower. Banking institutions originate a loan and fund the deal either by selling the loan to an investor (private or Government) or by lending its own funds and holding the loan in its portfolio.

Leverage

The ongoing credit crunch has forced banks to tighten up their lending criteria. It is highly unlikely that a commercial bank will offer any more than 75% loan-to-value (LTV) on any deal today. Banks have no incentive to take unnecessary risk; they can borrow money from the Fed (Federal Reserve Bank) at 0% percent and buy 10 year Treasury Bonds at 2% earning 2 points risk free. They will pass on high leverage loans and only lend where they have large amounts of protective equity.

CTL lenders will lend up to 100% LTV (lease fee valuation) on a non-recourse basis. They are in the business of loaning the full, current cash value of a lease (against the guaranteed future income). CTL bankers, without question, make the highest loan offers in the commercial real estate finance industry.

Speed and Certainty of Execution

CTL loans can close in about 1/3rd of the time it takes to close a conventional commercial mortgage. CTL deals have been known to be completed, from-start-to-finish, in as-little-as 45 days (unheard of in the world of commercial banking) but generally take 60.

Bank loans take at least 60 days, sometimes 180 or more. Also, because CTL deals either qualify or doesn’t, a banker can give a borrower a solid yes or no very quickly. There are a thousand ways a bank loan can fall through but, once a CTL banker commits to a deal and a borrower signs off, there is a near 100% certainty of execution.

Recourse

CTL …

A tubal reversal or tubal ligation is a procedure that surgically corrects and reconstructs the fallopian tubes of the female reproductive system for purpose of conceiving. The procedure is performed by a credentialed surgeon who is considered an accomplished specialist in his or her field with proficiency to restore functional capacity of fertility. There are basically three standard operations utilized in the medical community to accomplish this reconstruction which are displayed prominently in media including implantation, anastomosis, and a salpingostomy. All variations of correcting the problem are operationally invasive, inherent in risk, relatively expensive, and elective thus not usually covered under normal circumstance by health insurance, or is it?

Why Is Tubal Reversal Usually Or Normally Not Covered By Insurance?

A medically underwritten plan for an individual would require an exclusionary benefit period for a prolonged duration of time while reinvesting the monthly premium at regular intervals to earn sufficient return on invested capital hence funding the operation. The median average claim expenditure for Tubal Reversal Ligation surgery can run anywhere from $4,500.00 to $10,000.00 depending on several factors such as history of female complications, age, height, or weight and with just one person to pool this risk the cost of covering exceeds the insurers return on investment by a wide margin. The second reason is the fact that very speculative complications can occur during the course of operating such as excessive bleeding, infection, anesthetic casualty, damage to nearby organs, and risk of ectopic pregnancy all which would only exacerbate the claim cost expenditures and cause negative asymmetries in the medical loss ratio costing a fortune for the insurance company.

Exceptions To The Rule.

Group insurance benefits are unsurpassed in the arena of coverage and most often commercial insurance carriers write experienced rated policies instead of medically underwritten benefits to cover these procedures which are offset by factoring the premiums of the business enterprise as a whole. Simply put, with many employees paying monthly premiums there is financial leverage to provide this as a covered expense. Some states are required by federal mandated law to honor payment for Tubal Reversal Ligation if they do in fact cover maternity regardless of the provisions stipulated within its contractual arrangements with the insured. As a matter of fact, The National Infertility Association has addressed them by state including Arkansas, California, Connecticut, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, Montana, New Jersey, New York, Ohio, Rhode Island, West Virginia, and Texas. The caveat is there are certain loopholes in regards to evading or meeting such requirements such as not all carriers being required to offer maternity related coverage’s.

Applying for Tubal Reversal Insurance.

Our company Health Insurance Buyer will assist you in locating such coverage from carriers like Blue Cross Blue Shield, Humana, and Aetna to name a few insurance companies as well as help you locate reputable providers that perform the aforementioned services such as Chapel Hill Tubal Reversal Center, Center for Fertility and Gynecology, or Atchafalaya Obstetrics and Gynecology as an example. Once our …

A new article on June 3, 2009 from MSN Money writer Michael Brush indicates that there is a third wave of foreclosures still to come from prime borrowers (i.e. those previously “safe-borrowers” with sound credit and fixed-rate mortgages) as a result of job losses thanks to the worsening economy (“Coming: A 3rd Wave of Foreclosures”).

The article states that “In the first quarter, the percentage of these borrowers who were behind on their mortgages or in foreclosure had doubled from a year earlier, to nearly 6%” and goes on to say that “Credit Suisseanalyst Rod Dubitsky predicted last week that 8.1 million mortgages, or 16% of all mortgages, will go into foreclosure over the next four years. A weak economy, continued declines in home prices and rising delinquencies among prime borrowers all but ensure that foreclosures “will march steadily higher,” he says.” Not such great news for the economy, but good news indeed for entrepreneurs interested in starting a foreclosure cleanup business to clean and repair foreclosed homes for the banks.

To put this in perspective, this means that there will be over 2 million foreclosures a year and more than $2,025,000,000 up for grabs in money that will be spent on cleaning up these foreclosed properties (since the average bill is $1000+ to clean up one of these properties).

Let’s take a look at how you can position yourself to capitalize on this coming foreclosure movement

Set Up Your Company Properly

If you want to be hired for cleanup or preservation work, you’ll need to operate your business as a professional company. The good news is that you can set up a business quickly and inexpensively, and usually on your own. Many people decide to set up an LLC (Limited Liability Company) because of how quickly and easily it can be done but you’ll want to check with your accountant or other business professional to select the type of business entity that’s right for your personal situation.

If you do decide to start an LLC, you can usually find all of the documents you need online from your state’s government website. Usually the branch you’re looking for will be called the “Industrial Commission” or “Corporation Commission” or similar. Try typing in “start a business + ______ (your state)”. Anything ending in “.gov” is usually a good place to start as it indicates a government site.

Once your business is set up, you’ll need an Employer Identification Number (EIN), which is like a SSN for your business. You can register for one online: type in “IRS” & “EIN” into a search engine to find the online registration link.

As soon as you have your EIN (which you can usually get immediately online), you can open up a business bank account for your company. This step is very, very important. In the excitement of things, many people get caught up in the day-to-day dealings of running a business and use their personal accounts to pay for business expenses. Not only does …