Life Insurance – Should You Buy A Rider Or Complete Policy For A Spouse, Child Or Dependent?

There are many arguments as to who really needs a complete life insurance package and who needs some form of coverage in the form of rider. Does you really really need a rider if you already have a life insurance policy? Does you child or dependent really need one too?

To answer this question correctly we must understand the basic needs life insurance coverage meets …

A life insurance policy is basically meant for breadwinners or persons who demise will cause hardship for their survivors. Although there are other reasons why people buy life policies this is the main reason.

Some insurers have certain riders to cater for spouses and dependents. Such riders add term life coverage for such a spouse or dependent. It certainly makes more sense to buy a dedicated term life insurance for such a person if you think it's necessary. You'll almost always get a far lower rate per $ 1,000 coverage for the person in question if you get another complete term life insurance policy.

For the dependent, you really do not need any form of life insurance for a child unless you want to start a foundation in their memory or make a donation to their favorite charity if they pass on. If you're thinking in such lines then you'll serve that cause better by getting another life insurance policy for such a child or dependent instead of a rider.

We can make an exception for rare cases (like child actors) where the family fortunes will be dramatically altered if such a child passes on. Life insurance is a real necessity then. Like I explained when I talked about the main reason for a life insurance policy, such a child shares considering to the family's finances. Therefore the loss of that child will result in the loss of such financial contribution with the attendant consequences.

If you've decided to buy a life insurance for yourself, spouse or dependent, you'll get far better rates if you get and compare many quotes from many different insurers. This is due to the difference in rates from insurers for a particular policy could range from a few hundreds to a couple of thousand dollars.

If you already have a policy, you can also reduce your current rates by getting and comparing life insurance quotes from insurers you did not get quotes from before you bought your present policy.

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How to Travel With Books – Advantage and Disadvantage of Travel Books

Is it necessary to purchase a travel book or is it realistic that we can get similar information from other resources? Usually, most individuals have a major question on buying a travel book. So here are the pros and cons of purchasing one such book.

Advantages of a Travel Book

A travel book, which may be a paperback or e-book, comes in handy while traveling. Glancing through a travel book enables you to understand the custom and culture of a particular place in the world. So you can adapt yourself to that particular environment and stay there comfortably for longer periods.

  1. They Come In Handy — The travel guide comes in various forms such as, e-books, paperbacks and the file formats. You can have easy access to these books, which would assist you with all details compatible to the region you are traveling to.
  2. They Provide Enormous Information — Electronic or traditional travel guides provide you with answers to all types of questions such as how to learn some sayings that can be used in the place where you are traveling to? How to get data on where to reside, what to see and where to eat? How to get a clear knowledge about the history of a specific region or the atmosphere that it has?
  3. They Suit To Your Requirements — To access full information about a specific country or a region, both types of general and specific travel books are made available. The e-book may easily fit into your e-book reader whereas the paperback can fit into your backpack.

Disadvantages of Travel Book

  1. The Price — The e-book and paperback travel guides are very expensive compared to the information obtained from travel websites or from those who have moved or traveled to that region.
  2. Qualitative Images In Travel Books — Most travel books are in black and white. Only a few e-books consist of colored photos. Hence make a thorough revision before purchasing a travel guide or an e-book.
  3. Travel Books Make The Trip Less Natural — Traveling can be made more spontaneous by acquiring suggestions from locals than from travel books.

Conclusion

Considering travel books is essential while you are scheduling to travel. At the same time, never fail to revise the pros and cons in order to make the trip, the most memorable one.

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Five Reasons Why You Should Work For the Travel and Tourism Industry

The travel and tourism industry is a massive global industry that caters for the needs of those who have to travel away from home in terms of providing facilities and services like hotel accommodation, air and road transport. Close to a billion people are involved in international travel in this industry which generates billions of dollars every year. Sometimes making a decision on which industry to work for can be quite hard given the many options available today across the globe. Below are five reasons why you should consider working in the travel and tourism industry.

1. There are lots of work opportunities. The travel and tourism industry has a lot of opportunities employment for those seeking employment. You can work in the aviation sector, road, rail and water transport, accommodation providers like hotels and lodges, leisure and business travel agents and tour guides. It is now also possible to work from home thanks to technology which is convenient for some people like mums who have a child or children and do not want to be far away from home.

2. The perks are good. The travel industry provides rewards that not many other industries do. For example those working in the airline industry can get free tickets for themselves and immediate family members to fly to any destination that the airline they work for flies to. Those who work as travel agents can get reduced travel fares and even pay reduced accommodation rates. Then there are the familiarization trips that those who work in the industry have the opportunity to take. Just think of an all expenses paid trip to places like the Seychelles, France, the Kenyan coast of Mombasa to name just a few.

3. It is a growing industry. In spite of the recent downturn because of the threat of terrorism and the world recession, travel industry players are optimistic about its growth. In good times and bad times people always get the urge to move. And with more and more places becoming accessible because of air travel and with both air travel and hotel rates coming down in order to accommodate peoples pocket there is reason to believe that the travel industry will continue to grow and more markets will be reached which is good news for service providers. Furthermore technology like the internet has made it possible to access markets anywhere in the world, at any time of the day.

4. It is never boring. Working in the industry almost means that you will meet new people from time to time. This is especially true for those who work as frontline staff in travel agencies, airline offices or hotels. Those who work in the airline industry as flight attendants have the opportunity to travel to different parts of the world, visit different towns and cities and see and experience different cultures. That can never be a boring job.

5. You do not need years of studying to work in the industry. You may love a certain profession but because of the years of studying involved in learning it you may be discouraged from joining it. Not so with the travel and tourism industry. Three to six months may be enough depending on what qualification you are studying for to get you started working for this exciting industry. Some people because of their love for the work and experience gained in certain areas of the industry have even started working and studied for the paper qualifications later.

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5 Fundamental Principles of Insurance

Insurance is a contract, a risk transfer mechanism whereby a company (Underwriter) promised to compensate or indemnify another party (Policyholder) upon the payment of reasonable premium to the insurance company to cover the subject-matter of insurance. If you are well conversant with these principles, you will be in a better position in negotiating you insurance needs.

1. Insurable interest. This is the financial or monetary interest that the owner or possessor of property has in the subject-matter of insurance. The mere fact that it might be detrimental to him should a loss occurred because of his financial stake in that assets gives him the ability to insure the property. Castellin Vs Preston 1886.

2. Umberima fadei. It means utmost good faith, this principle stated that the parties to insurance contract must disclose accurately and fully all the facts material to the risk being proposed. That is to say that the insured must make known to the insurer all facts regarding the risk to be insured (Looker Vs Law Union and Rock 1928). Likewise, the underwriter must highlight and explain the terms, conditions and exceptions of the insurance policy. And the policy must be void of ‘small prints’.

3. Indemnity. It stated that following a loss, the insurer should ensure that they placed the insured in the exact financial position he enjoyed prior to the loss (Leppard Vs Excess 1930).

4. Contribution. In a situation where two or more insurers is covering a particular risk, if a loss occurred, the insurers must contribute towards the settlement of the claim in accordance with their rateable proportion.

5. Subrogation. It has often been said that contribution and subrogation are corollary of indemnity, which means that these two principles operates so that indemnity does not fail. Subrogation operates mainly on motor insurance. When an accident occurred involving two or more vehicles, there must be tortfeasor(s) who is responsible for accident. On this basis, the insurer covering the policyholder who was not at fault can recover their outlay from the underwriter of the policyholder who is responsible for the incidence.

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Travel: Different Means of Travel!

Nowadays, there are many different means of travelling which include airplane or ships or trains or buses etc. you can choose your medium by keeping in view your interest, your priorities and of course your budget. Lets have some general over view of different means of travelling.

AIR: Air travel is the most recent means of moving from one place to another. Since its first usage, it has become so popular due to its many advantages that it is now the most used mean of travel by people for long routes. It is taken as an expensive choice although there are many air lines that are offering air flights quite cheaply but over all it is an expensive but most quick mean of moving from one place to another.

SEA: Sea is one of the oldest means of travelling. Ships were used for roaming even by Greeks and Egyptians. It remained the main source of travelling for quite a long time but after the invention of aero planes, it has somehow lost its place. Nowadays moving from one place to another by sea is rarely done and even when done it is mostly through large ships which are built for luxurious cruising for the more privileged people. Middle and lower class people can’t really enjoy in those huge and luxurious vessels.

TRAIN: Moving from one city to another by means of train is considered as the most reliable and affordable mean of travelling. Trains now for long have remained a top priority of people for travelling. Travelling by train has all the ingredients that it takes for a perfect travel as it is quick and reliable and cheap mean of travelling.

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OUTLAWED: Six Home Insurance Deal Killers Florida Homeowners Should Be Aware Of

As affordable Home Insurance in Florida gets more difficult to attain, it is extremely important for home owners and future home owners to be fully informed before purchasing a new home or shopping for new home owners insurance.

If one of these SIX conditions exist in the home, "BUYER BEWARE" as insurance may be difficult and potentially impossible to bind.

1) Fuse Panel

A properly installed FUSE PANEL by itself is typically not a safety issue, although most insurance companies have banned this type of electrical service for all new policies written. There are a number of reasons, some of these are noted below.

The main safety issues from fuses come into play when a homeowner replaces a blown fuse with too large of a fuse (ie a blown 15 amp fuse replaced with a 30 amp fuse which is readily available on the utility room shelf). The circuit is designed to "blow" if a load greater than 15 amps passes through. Now the "trigger" is set at 30 amps. An extra 15 amps just might be enough for the wiring or other components to heat up enough to cause a fire or other serious injury or damage.

A typical fuse panel can be replaced with a circuit breaker panel for $ 750 to $ 2,000 depending on any other upgrades that may have to be made in the replacement. Always get a minimum of THREE QUOTES from reputable Contractors before authorizing any work done.

2) Knob and Tube Wiring

Knob and Tube Wiring (K & T) was used from the 1880's into the 1930's. This early method of electrical wiring did a great job for many years and is still used today in some select governmental and industrial applications. However this old rubber or cloth covered wiring that strings along on porcelain knobs has outlived its useful life and is no longer insurable or even legal in residential applications per the National Electrical Code.

An average size home re-wire can run from $ 8,000 to $ 20,000 depending on the unique layout and access to electrical components. Always get a minimum of THREE QUOTES from reputable Contractors before authorizing any work done.

3) Aluminum Branch Wiring

In Florida, Aluminum Wiring has been in the spot light since 2010 when tens of thousands of Florida home owners learned they could not get insurance if they have this common wiring that was used frequently between 1965 and 1973.

Aluminum wiring is known to "cold creep". The wiring expanss as it heats up and contracts as it cools down, this can cause the wire to come loose at the connection and this can cause an arc which can heat up fixtures and start fires. Aluminum also oxidizes over time which can contribute to this fire safety issue.

There are two options to get insurance if you have aluminum branch wiring. First, and most costly (but the one we highly recommend) is to completely rewire your branch wiring to copper. This can cost on average, $ 8,000 to $ 20,000 depending on how easily or difficult your electrical components are to access.

The second option is to use AlumiConn or CopAlum crimps that in essence crimp a copper "pig tail" to your aluminum wire so that the copper wiring is what is making the connection to your electrical fixture. This option, on average, costs between $ 1,500 and $ 3,000 depending on how many electrical fixtures there are in the home. We recommend staying away from this when possible as we fear that the ever changing insurance industry may indeed OUTLAW the crimp method as well. We also do not like the idea of ​​going from the average fixture having 3 connections to having 6 connections. The more connections the more chance of failure.

4) Less Than a 100 Amp Electrical Service

A more recent industry change in our "power consumption hungry world" is requiring homes to have 100 amps or more of service feeding the home. With the heavy consumption of electrical power the average homeowner uses, insurance companies appear to be fearful that smaller services can overheat when using typical high consumption appliances.

The cost to upgrade an electrical service can range depending on if the size of the electrical wiring can handle the increased electrical load. If it can not, the feeder line will also have to be replaced. As always, get at least 3 quotes from reputable electrical contractors.

5) Polybutylene Plumbing

This popular plumbing pipe was used heavily through the 1980's and into the early 1990's. It is usually "blue or gray colored", is flexible, and has caused flood damage in thousands of homes across the country. Up until recently a few insurance companies did not ask about the type of plumbing pipe so agents would place homeowners with those companies, however starting September 1, 2012 Citizens Insurance Company specifically outlawed Polybutylene Plumbing.

A typical re-plumbing cost can run from $ 4,000 to $ 10,000 depending on the ease of running the new pipe (in attics or under homes). We recommend using copper or CPVC piping as some insurance companies are also taking issue with PEX pipeline that has become very popular over the past decade. We'll cover more on PEX in a later article.

6) Roof with less than 3 Years of life

The final INSURANCE DEAL KILLER in today's article addresses your first line of defense in a wind or rain event, THE ROOF! If your roof has less than three years of useful life left on it you will likely be denied insurance coverage. In our hot Florida sunshine, an average three tab shingle roof will last between 10 and 15 years. An average dimensional shingle roof will last between 15 and 25 years. Other popular roofing options include tile and metal roofing. These options have significantly longer life expectancy of upwards of 50 years if installed and maintained properly.

A re-roof is normally calculated on a per square basis. A square is equal to 100 sq ft of shingle. In the Pensacola area that per square cost can run anywhere from $ 225 to $ 300 per square making the average 30 square roof cost between $ 6,750 and $ 9,000 depending on the quality of products used.

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Real Estate Agents – Strengths and Weaknesses in Listing Commercial Property Today

In this commercial property market there are some real pressures and challenges that confront a lot of property owners when they want to sell or lease their property. They need the help of top agents that really understand the local area, to help in moving the property.

Contrary to popular belief, it is in markets like this that good agents can make a lot of commission. It all comes down to the way in which they package their services and help their clients.

In simple terms, top agents and experienced agents can do very well today providing them work the local area and their database. A good database will always get you through any market conditions and frustrations. In saying, that I am a big believer that a salesperson's database should not be delegated to the office administrative staff to control.

Every salesperson should take ownership of their database; In this way they will get good activities from it. In this market you need leads that you can do something with. When a database is passed over to the administrative staff to control, the inevitable result is inaccurate and old data. The database soon becomes redundant. The salesperson does not keep it up to date.

Become Change Agents

So we are the 'agents of change' when it comes to helping our property clients an owners get results in this market. We should know how to attract the right people to every property listing that we take on. Exclusive listings are more important in today than ever before. Some top agents will not take on 'open listings' for the very reason that they are a waste of time and effort.

When you know the drawbacks of the industry and the listings today, you can offer the clients that you serve some solid solutions. So what are the drawbacks? Here is a list of some of the larger ones:

  1. The time that it takes to sell or lease a property can be longer today. Every client has to be conditioned for the best price or rent so the time on market is not lengthened. The first few weeks of every marketing effort are the most important. Position the property correctly to get the best inquiry in this time.
  2. High prices and high rents will achieve nothing. The price or rent for the property should be optimized for inquiry. You have to do more with less when it comes to marketing and inspecting of properties.
  3. A larger number of competitive properties can frustrate your marketing efforts and time on market. Check out these properties before you do anything with your listing.
  4. Buyers and tenants are slower to inquire, inspect the property, and then make a decision. Your skills with each stage of the listing should be optimized. Hone your skills accordingly.
  5. Limited finance can put some 'brakes' on the larger deals. Find out where your prospects can get finance from and what the criteria of approval may be.

Whilst these may be drawbacks in the market, they are also opportunities for agents that can get focused and organized. Every problem is an opportunity in disguise.

Are you a solution provider in this commercial real estate market? Top agents are just that. You can be too.

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Antigua Weather – Best and Worst Months to Go

Antigua has 365 beaches – one for every day of the year – and plenty of good weather to go with each one. But the island has its share of bad weather months, too.

Beside the beaches, Antigua and its companion island of Barbuda are known for good shopping, historical sites and plenty of hotels, resorts and restaurants.

The island has little variation in temperatures throughout the year, but strong peaks and valleys with rain.

Tourists will experience an average high monthly temperature of 85 degrees Fahrenheit, the World Weather Organization says. The average monthly low temperature is 75 degrees.

Antigua weather in June through October reaches average high temperatures of about 87 degrees Fahrenheit. They reach a low of 83 degrees in December, January and February.

Rainfall rates 3.6 inches per month. It reaches a high of 5.5 inches in September, with almost as much rain in October and November. These months have the most storm and hurricane activity of the Caribbean's annual hurricane season, which officially runs from July 1 to November 30. The islands also see higher rainfall in May, although not as much as the fall months.

Antigua weather in February sees rainfall reach a low of 1.5 inches, followed closely by March, January and April, respectively. February through April average about eight rain days per month, while August, October, November and December average 13 days a month.

The best time to visit Antigua is March and April, while the worst time to visit Antigua is September and October, according to the Caribbean Tourism Organization.

A combination of warm temperatures and light rainy make February through April along with June the least risky months for a vacation there. Likewise, Antigua weather in August through November along with May have the highest risk of rain.

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Difference Between Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI)

Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI) are two important insurance covers to protect the interests of employees, as well as employers. There are, however, certain differences between the two. Due to these differences, it may result in wrongful litigation and consequently anxiety to parties involved. The differences between ELI and WCI are relating to where they apply and what they cover. We will discuss about them here briefly.

Where they apply

Employers’ liability insurance

As an employer, it is mandatory for you in UK to purchase employers’ liability insurance. Not purchasing attracts penalty under law. In certain situations your employees may feel that you are liable for job related illness/injury which they may sustain and they sue for this. If it is really a case, it may bring in expenses such as hospitalization, financial compensation and the like. ELI helps you under such circumstances.

While it is mandatory for you as an employer to have ELI, your employees need to prove that the job related injury/illness is because of your negligence. Imagine yours is a lumber business. While working, your employees should have the necessary equipment, training and skills to operate them. If you employ them without teaching the safety norms, imparting the training and checking the fitness, and they sustain injuries, it will amount to your negligence as per rules framed under Employers’ Liability Insurance Act and employees are likely to feel appropriate to sue you, because you are liable.

Workers compensation insurance

On the other hand, workers compensation insurance is a cover for the welfare of the employees. It depends on the circumstances that are the tone of relation between employer and employees. Thus, if you are more concerned about employees’ health and safety, you need to purchase this insurance. It does not matter whether it was your fault or your employees’ fault that resulted illness, accident or death, this insurance comes to your help.

Coverage

Employers’ liability insurance

As an employer, you have to go to court of law if the affected employee sues you. You need to pay financial compensation and bear the hospitalization and medication. ELI covers all these expenses.

Likewise, for employees ELI covers the permanent and temporary disability, injury and wrongful death at workplace. It covers the cost of litigation as well.

Workers compensation insurance

For employers, WCI is a Good Samaritan. In most cases, it ensures that your employees do not resort to litigation. However, in such unfortunate event, WCI covers the expenses because of litigation. It covers the financial expenses to be given to the affected employee for work-related injury, illness or even death.

Employees when inured at workplace, under WCI, are guaranteed to get compensation from the employer to cover medical and hospitalization expenses and certain portion of wages. In most cases, it is two-thirds or more. WCI covers the expenses on litigation, by the employee. In general, WCI takes care of the situation and makes sure that litigation on the part of employees is avoided.

WCI covers compensation (wages) in case of a temporary disability for the period of absence. If the individual got permanent disability, and not fit for employment in current occupation, WCI covers the expenses of vocational training and rehabilitation and cost of searching a job, if he wants.

Despite both ELI and WCI are meant to protect the interests of employees and employers, there are differences in the way they apply. You need to understand them and purchase a cover according to the need of your business.

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Cliches Associated With Insurance

Isn’t it funny how many cliches can be associated with insurance? I think when a couple of sayings and anecdotes were invented; the inventors had the term insurance in mind!

Have a look at a couple of the following sayings and tell me if you agree…

Nothing is certain, but death and taxes. This can be changed to – nothing is certain, but death and insurance. No matter who we are, what we do, how much money we have or which car we drive… we need insurance!

All is fair in love and war. Once again, this can be changed to “all is fair in love and insurance.” Don’t you agree that we are at the mercy of insurance companies? What they say is law and we have to just sign on the dotted line and accept the fact that we are paying tons of money each month on something that we do not really want. Do not accept the first quote that you are offered. Shop around until you find a policy that you are completely satisfied with. Do not allow any broker, agent or insurance company to force you into taking a policy that you are not happy with.

He has been taken for a ride – he has been taken for an insurance ride! It’s unfortunate to hear how many insurance companies take their clients and customers for a ride. This is usually by means of not wanting to pay out a claim, increasing premiums drastically, or other matters that we have no control over. Always read the fine print before signing any insurance document. By having a good understanding of what your insurance policy entails, a lot of this can be prevented.

A chain is only as strong as its weakest link – An insurance company is only as strong as its weakest link. When wanting to obtain insurance, make sure that you talk to an agent or a broker who knows what they are doing! The worst thing in the world is dealing with an insurance reseller who has only one thing on the mind and that is to meet their monthly sales targets. Insurance is a very important investment; therefore it is crucial that a qualified professional takes care of your needs and requirements.

A good beginning makes a good ending. Change this to “a good insurance company makes a good ending” and you will be one of the many individuals who are satisfied with the service received from their insurance companies. If a company offers outstanding service and handles queries and claims effortlessly, even a burglary or an accident can have a good ending.

After a storm comes a calm. If you can change this saying to “after an insurance claim, comes a calm” – congratulations! That means that you have recently put in a claim and that it was handled successfully, enabling you to relax after everything has been taken care of.

I hope you have enjoyed this tongue in the cheek look at insurance sayings – it might be a bit of useless information, but hopefully it managed to put a smile on your dial!

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