The Top Benefits of Using an Insurance Broker


18 December 2019


insurance broker

Investing in insurance, whether for your home, vehicle, family, or business is the best decision you can make. However, the process requires in-depth skills and expertise to help you navigate through the many choices and select the ideal coverage. You also have to choose a good insurance provider to meet your needs. The insurance broker deals with a range of services and products, and you can trust that they will recommend to you the policy that suits your needs best.

Navigating through the requirements can prove to be super daunting, and this is where insurance brokers come in to take the stress off your shoulders. Some individuals prefer obtaining the coverage direct from the insurance provider, as they feel that using an insurance broker is an extra expense that they would instead do away with. However, that is only because they fail to look at the bigger picture to realize the numerous benefits that come with using an insurance agent. If you are still skeptical about the idea,

Here are the top benefits to expect from using an insurance broker:

The broker is experienced

As mentioned, navigating through insurance requirements requires skills and expertise to help you land the best provider and coverage that will meet your needs. The little you know about insurance is not enough to guide you through the process. Luckily, the brokers have been doing this for the longest time and understand precisely what needs to be done to get you the best insurance deals. The insurance brokers deal with a range of services and products, and you can trust that they will recommend to you the policy that suits your needs best. They have dealt with clients with similar needs as yours, and they can successfully guide you through the stressful claim process. With the right broker, you can have peace of mind knowing that you will get personalized support and that you are protected at all times.

Save your time

The insurance broker is more like your representative. You can leave everything to the expert all from documents and attending any meetings until you get the best coverage to meet your needs. With this, you will have more time to do what you are good at around your home or office.

Quality coverage is a guarantee


The other reason for using a broker rather than going direct to the insurance company is that the brokers have more exposure than you do. They understand the market better and are aware of which insurance companies to trust and which ones to stay away from. They are also great bargainers and will ensure that you get the best coverage at a reasonable price. The brokers are well-trained to handle all insurance aspects. They can quickly evaluate your needs to determine the kind of coverage that you need. Also, the fact that they have more exposure than you do helps them in making comparison shopping to ensure that you get nothing but the best.

Saves your money

You are probably wondering how using a broker will help you save money while you will be paying for the services. For starters, the brokers will help you save time, and you can focus on working instead. Also, there will be minimal to no mistakes made, thus no losses.

The benefits of using brokers for your insurance needs are endless, and these are just a few of what to expect. You should, however, take your time and look for a reputable and reliable broker to enjoy the benefits.

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Property Tax Lien

What You Need to Know Before Buying Property with a Tax Lien

You find the house of your dreams but are told by the realtor that the home comes with a property tax lien. Do you give up on that house and find one that doesn’t have a lien? Even though friends and family might suggest you move on, it's better to have a deeper understanding of property tax liens before making a decision. What Is a Property Tax Lien? When homeowners have a financial setback, they often have problems making their mortgage payments. In many cases, they are also unable to pay their property taxes. When a homeowner doesn’t pay property taxes, their property becomes tax delinquent. A property tax lien prevents this property from being sold or refinanced. Depending upon the state they live in, after a certain period of time, the municipality can repossess, seize, and foreclose on the property. When this happens, the town or county that is owed the taxes issues a property-tax lien certificate against the property. The lien includes the owed taxes, penalties, and interest. Once there is a foreclosure, this certificate is then made available for sale, usually in an auction. There are two types of sales based on unpaid property taxes. Tax Deed Sale: A tax deed is a legal document that transfers property ownership from the homeowner who didn't pay the taxes and the municipal governmental entity owed the taxes. In turn, the government then has the authority to sell the property, collect the owed taxes, and transfer ownership to the purchaser. In this case, the property is sold at auction and includes unpaid taxes. Buying a foreclosed property gives you complete ownership of the property. The price may start low but is often driven up by competing bidders. Once the property is purchased by the highest bidder, it is owned clear and free of all mortgages and liens against it. Tax Lien Sale: In this type of sale, the lien is auctioned off to the highest bidder. It includes the interest incurred. If the liens are not paid, the new owner can foreclose on the property. Many states will utilize a tax lien sale in an attempt to get their unpaid taxes from the homeowner. They usually come with high penalty fees. The process and time period associated with tax lien sales depends upon the state where the property is located. Homeowners whose property is sold in a tax lien sale are given a period of time— a redemption period—to pay their taxes plus interest to the holder of the lien. The owner of the lien may not end up owning the property should the homeowner pay back the taxes plus interest. However, there is an opportunity to make money from the accrued interest. Interest rates vary by state, for example: In Florida, the maximum interest rate is 18 percent with a guaranteed minimum of 5 percent on liens redeemed early. The Mississippi tax lien rate is 18 percent—1.5 percent per month—and must be repaid in two years. Iowa’s interest rate is on the lower side, at 2 percent. The interest rates and sales process are structured by local jurisdictions and are also dependent upon the auction. Be sure to check with the municipality before making decisions. Because of low interest rates and the volatile stock market, many people are looking for other ways to get a return on their investment. With more than$14 billion in unpaid property taxes, purchasing properties with liens, for some, is a viable investment opportunity. It is important to understand what you are buying before you make an offer. When you purchase a tax lien certificate, you are not attaining ownership of a piece of property. You are purchasing the lien on the property. The delinquent homeowner still owns the property. When you buy a tax deed, you take ownership of the property in its entirety. Read Also: Property Investment Success Stories 6 Tips On How To Pay Off Your Tax Debt Investing In Property Is Investing In Your Future A Quick Guide To The Legal Steps Of Buying A House Why Off-Plan Investment Is Beneficial For Expats 5 Easy Estate Planning Tips To Help You Plan For The Future


Bankruptcy Means Test: Why It Matters?

Bankruptcy means a test is done to determine who can file for chapter 7 bankruptcy. The means test considers everything while determining your current position to pay your debt to the creditors. It goes through your income, expenditure, assets, and family members. The means test was designed to reduce the number of debtors willing to get their debts erased. It has been seen that most of the debtors who have applied for the means test have passed. Those people who cannot qualify for chapter 7 or want to keep their assets to themselves can apply for chapter 13 bankruptcy. How Chapter 7 Bankruptcy Works? Applying for chapter 7 can be an expensive and lengthy process. The means test helps the government clarify who is eligible for chapter 7. The Means Test has two parts. Both parts are designed to see through your income and assets and determine the current financial standing. You have to apply for the Means Test only for the primary consumer debts like medical debt or credit card debts. You do not have to apply for this test if your debt is related to business loans. First Part The part of the Means Test determines whether your house income is below the state's median income. The means test starts gathering information about your income, expenses, and assets. These data are mostly collected from the past six months. However, there have been cases where this six months time duration can be changed. After all the reports, if it is being found out that your income is below the median income, you will qualify the Means Test. In a report made by the US government in 2013, more than 12% of the debtors were able to qualify the Means test in the first stage. Second Part The second part consists of going through all your expenses. These expenses consist of everything you pay for, starting from paying your utility bills, grocery bills to the travel expenses and education expenses. Out of all the expenses, only the allowable expenses are considered to be used by you. Other expenses that are not necessary are used to pay off your debts. While you document the list of expenses, be thorough about the things you add to the list. Remember, those expenses will decide whether your petition will be accepted or not. Allowable expenses are based on the local and national standards used by the IRS. The national list covers items like food and clothing, and local items cover housing expenses and car payments. You need to work carefully to ensure that all your expenses are thoroughly documented. What's Next After You Qualify for the Means Test? Passing the means test means you have the green light to apply a petition for chapter 7 bankruptcy. Once your petition is accepted, most of the unsecured debts will be forgiven. That does not mean that this will be the best route for you. There are also chapter 13 bankruptcy that might give more advantage over chapter 7 in many cases. Chapter 13 will help you put a hold on all your debts, mortgages, overdue loans, and bank taxes. What Will Happen After You Fail The Test? Once you fail the Means Test, there are no more appeals for a certain period. You can apply for the chapter, or you can wait for the cooldown time to apply again for the means test. We have already mentioned that the Means Test goes through all your financial income and expenditure in the last six months. That means, after a failed attempt at the Means Test, you can apply again after six months. However, if you do not intend to apply for the Means Test again in the future, you will be restricted to chapter 13 and will have to pay off your debt based on the chapter 13 provision. The Bottom Line Is it really hard to apply for a loan after bankruptcy? Well, you can say more than hard; it is more complex. You first need to qualify the Means Test, and then only you can apply for chapter 7. It is better to have an attorney while you are managing legal documentation. Read Also: 8 Simple Tips To Pay Off Your Loans Faster 5 Must-Have Long-Term Goals for A Secure Future What are the types of debt that can be discharged in bankruptcy? Using Short-Term Loans to Help Rebuild Your Credit Score

Forex Trader

What to Expect When You Become a Forex Trader

There is no shortage of opportunities when it comes to being a Forex Trader. As the market continues to grow and expand, there is a constant need for foreign currencies required for global transactions. Coupled with easy access to several platforms, it’s no wonder that people from all over the world are looking for ways to earn profit from this vast market. If you are interested in learning how to make a profit from the market, you must first learn to trade. The process of learning to trade includes investing in resources, platforms, and continuous education until you are ready to trade in a live account. Once you are able to meet these demands, you may notice certain experiences that every Forex trader encounter. As compared to earlier times, becoming a forex trader is much easier now. This is primarily because there is a rise incredible platforms and channels of information. You can now get forex signals telegram group on a daily or a weekly basis. This will help keep you updated with the latest that is happening, including tips, tricks, and other suggestions. Here are some of the things to expect when you become a Forex trader: 1. Exposure to vast information: Forex traders from all backgrounds are often exposed to vast information generated by platforms as well as from countless online sources. The data is often arranged in charts, graphs, and trends which enable traders to develop analytical skills before making their decision. Here are some of the appropriate data to study: understanding the value of currency factors that can affect the market signals that pinpoint favorable trading conditions software or applications that can be used for trade During trading hours, investors may notice how quickly certain information can generate and how valuable they are in affecting strategy. If a trading platform offers inaccurate Forex quotes, the trader using the software may not be able to calculate their profits and losses percentages accurately which hinders their financial status. 2. Possible conflict of interests: Some factors that can affect a country’s currency, including political stability and economic performance. Traders who are working with foreign currencies from countries with a history of political turmoil may notice its continuously fluctuating nature which often carries a lot of risks. In some cases, traders who are dealing with currencies from countries that dominated their own may often struggle with their own personal feelings. During these moments, it’s not uncommon for investors to feel some inner conflict one way or another which is why it is very important to trade on a more objective manner. This means not working based on your feelings which can often lead to clouded judgment. 3. The constant flow of opportunities: With the market constantly moving at a rapid pace, many traders who have developed their own set of skills may find this as a gateway to endless opportunities. Here are some of the opportunities: Financial opportunities: In Day trading, it’s not very uncommon for skilled traders to start with a relatively low deposit and ended up increasing their profit three times by the end of the day. Financial literacy expansion: Aside from increasing their profit, trading Forex allows one to expand their financial literacy that cannot be obtained from learning tools and other resources. Growth opportunities: Because there are countless situations where every decision counts, traders can easily learn from their mistakes and learn to become better from their own individual experiences. 4. The increasing amount of risks: With great opportunities also come great risks and it’s not surprising that every trader has at least experienced some loss during their career. Because the market is so unpredictable and unfavorable conditions can happen almost instantly, it’s not uncommon for certain currency pairs to lose value within the span of a few days which result to less profit. While there are a number of risks one has to consider, they can also become learning opportunities. People who are tenacious, determined, and are willing to improve their circumstances will always take these moments as a challenge to get better instead of a sign that they should quit. Final Thoughts: The Forex market is always moving where people can trade on a short-term period or hold positions for as long as possible. As the global economy continues to develop, there is always this air of competition that comes with investors looking for the next currency to invest in. These moments can feel a person’s desire to trade, enable them to open positions, and even let them test out their strategies. While these moments of adrenaline can be exhilarating, they can also be frustrating. This is especially for traders who simply have a bad day at work. In the worst scenario, this can lead to significant losses when investors start trading with their feelings instead of logic. During these moments, it is important to keep a cool head and even distance yourself from your screen if necessary. Overwhelming as it may be, it’s moments like these that make trading Forex exciting. Read Also: Let’s Make A Deal: Learn How To Become A Stockbroker Top 9 Forex Trading Tips For Beginners That Save You Money