Save And Invest With Your Insurer

Savers and investors do not always have to go to their banks for savings or investment products. There are also insurers in the shop window.

“Life insurance is widespread,” says lawyer Nathalie Labeeuw (Cazimir). ‘Almost everyone I know has a life insurance policy in portfolio. But often they are not aware of this themselves. They have an investment portfolio that they do not know is packed in a life insurance policy. “

Insurance For The Purpose Of Savings

For investors with a lot of patience

Savings insurance has long been one of the most popular savings products. But due to years of low-interest rates, very few are opting for this type of savings. The guaranteed interest varies from 1 to even 0 percent. In the latter case, the saver is already entirely dependent on the possible participation in profit. ‘The insurers do advertise an interest rate, but after deducting the costs there is hardly anything left for the saver. There is not even compensation for the loss of purchasing power due to inflation,” says Andreas Vets van Stremersch, Van Broekhoven, and Partners. After all, savers also have to take into account the entry costs with every new deposit, which with some insurers can go up to 3.5 percent.

“At the moment, savings insurance is primarily a tax vehicle that allows savers to escape 30 percent withholding tax,” says Vets. It is possible to escape this if the policy has a term of more than eight years and the capital is actually paid out more than eight years after the policy was taken out. Nor is a 30 percent withholding tax payable if the policyholder is the only insured person and beneficiary and the policy also provides for a death capital of at least 130 percent of the total amount of the premiums paid.

Savers should therefore only invest capital in a savings insurance policy that they can miss for at least eight years. ‘It is quite paradoxical: savings insurance is aimed at the small, cautious investor, while the latter must immediately keep in mind an investment horizon of eight years. We tend to associate such a long investment horizon with more risky investments, “says Vets.

For those who want more return (and can handle more risk)

Because the yields of savings insurance are so low, the insurers are increasingly pushing their customers towards branch 23 investment insurance policies. These are actually investment funds with an insurance sauce over it. The potential return is higher, but the same applies to the risks. ‘They are insurance contracts whose value evolves with the chosen fund. Extra insurance costs will be charged. So those costs add up quickly for the investor. ”

Because in addition to the entry costs, which, just like with the savings insurance, vary from 1 to 3 percent, management costs are charged. On the other hand, there is something in return: no withholding tax and no stock exchange tax are payable on the sale. Yet Vets is a cool lover of investment insurance: ‘You better opt for the similar underlying investment fund at the bank. You then put the costs in your own pocket and not in those of the insurer. ”

There are various types of insurance that can yield profit in the future with the exemption of burial insurance even if it’s among the best burial insurance for seniors which had been designed to cover expenses at the onset of death and may benefit relatives and loved ones more than the insurer.

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Lawsuit Loans, In Fact, Add More Injury To The Injured

The business in the line of funding plaintiffs rose through the years. Lending companies such as banks and other private investors have set aside money mainly to invest in people’s lawsuits such as the infamous car accident loans. And while the business had been growing and continues to see growth in the coming years, the business is, in fact, not regulated by many states (most of the states). Therefore, the business liberally ignores regulations that safeguard people from lenders.

Interest On Personal Injury Lawsuit Loans

These are types of loans that you should be aware of as there are no regulations that restrict cap interest rates. Lawsuit loans go as high as 100 percent and sometimes exceed it. On top of that, lending companies are not providing clear and full pricing details, and often, the details provided are misleading.

Many regulators, judges, and lawyers are seeing the trend taking away too much money from the plaintiff’s claims.

It takes benefit from the meek, the fragile and the uninformed, said RJ. Genis, an attorney in the Bronx specializing in personal injury. He has warned many clients from taking out settlement loans as he said it is a form of loan sharking that seemed to appear legal.

A lawsuit had been filed in Colorado against two huge private companies. They were charged with violating the lending laws in the State.

“It appears like a loan and has the scent of a loan, all of us think that these are actually high-cost financial loans,” JW. Suthers, Coloradp Attorney General, explained in a the latest interview. “I could view a legit part for this, yet this does not imply that they should not be controlled by rules.”

The firms, on the other hand, declare they aren’t loan providers since injured parties are not expected to settle the money if they will lose their particular cases. Also, the sector makes reference to the deals as investments, advancements, funding or financing. The discussion has convinced government bodies in various states, which includes New York, that lawsuit loan providers aren’t controlled by existing loaning laws and regulations.

These companies likewise stated that they need to impose high rates mainly because playing on legal cases is extremely high-risk. Borrowers could very well lose or succeed below anticipated, or cases can just keep on going, slowing down repayment until the income is exhausted from the financial commitment.

To secure its placement, the sector has begun volunteering to be governed – however on its unique conditions. The firms and legal professionals who service the sector have pressed state legislatures to ascertain guidelines such as licensing and disclosure criteria, but apparently, some rules, such as price caps, will not apply.

The regulating body from state to state are still on the process of making specific guidelines and regulations for the business. However, this effort had started in Maine in the year 2007.

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Food & Drink Insurance Needs For Your Business

Operating a business generally related to food and beverages is a fulfilling one. However, it entails challenges and can demand for more efforts to support the business. Time may come that you would be operating for long hours and think of encouraging marketing strategies to sell your products. Doing all these, you may need to protect your business with a policy.

A business insurance policy is your assistant for the protection of your business against the various perils involved. This may cover food spoilage, theft, and many more. Moreover, the types of loans that you must be aware of are available. Discussed here are some of the coverage types that you may consider in case you want to acquire food and drink insurance.

Food and drinks insurance coverage:

See the individual insurance coverage that are needed for your business.

Policy Coverage #1: Business property

The objective of this insurance coverage is to assists in protecting the physical structure of your food business facility and its contents from the damaged by a covered risk. Contents of the covered shop may have the following inclusion: products, shelves or gondolas, and cash registers. Common risk coverage is very particular to theft, fire, and vandalism. However, it will be defined by the type of policy that you will going to choose.

Policy Coverage #2: General Liability

In circumstances that you are accountable for damages, employees injuries, store accidents, or claims of negligence, this coverage type is the one that can protect your business. Moreover, this type of coverage insurance can assist business owners for the payment of medical expenses of the customers in case that you are found to be liable for it.

Policy Coverage #3: Business Interruption

Another type of insurance coverage that can assist you in replacement of the business income in the event that an unexpected phenomenon affects your business, like fire, Business Interruption Coverage may beneficial for you. Recordings of your business profits history, even those specific policy limits, may help to identify the amount of payouts for your insurance.

Carefully read and understand the policy. A waiting period of around 48 hours is required for the coverage to kick in.

Policy Coverage #4: Equipment Breakdown

In case the major kitchen appliances like freezer or cash registers are being damaged, this insurance coverage assists for the payment of equipment repair.

Additional Coverages for Food & Drinks Insurance:

  • Money and securities coverage
    – This covers your food and drinks business financial items. Finances allocated at the stores, deposited in the bank, or stored at your house are all covered.
  • Employment practices liability coverage
    – In case you are found liable for legal cases involving the employees such as harassment, this coverage could be applied for legal costs.
  • Data compromise coverage
    – An insurance coverage like this that can protect you over breech information like exposing an employees credit card number is highly important. It can assist in paying the involved expenses.
  • Business auto coverage
    – This coverage is helpful in case your business vehicle is stolen, involved in accident or being vandalized.
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