Life Insurance – Money saving Top Tips

Buying life insurance online is easy but this article provides 5 money saving tips that the man in the street would otherwise be unaware of. Essential reading.

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product. Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand. But it’s always a good idea to have a few Top Tips in your back pocket when you’re shopping online for life insurance. They’ll help you ask the right questions and find the best policy.

1. Always have your Life Insurance policy “Written in Trust”. This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving ! All you have to do is tell the online brokerage organising your policy that you want your policy “Written in Trust” and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So it’s a win win situation and there aren’t many of those around these days !

2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term. With a “Guaranteed Policy” the insurance company guarantees never to increase your policy’s premium. With a “Reviewable Policy” you agree that your insurance company can review the cost of your policy at regular intervals. But don’t be kidded – in our experience a “review” is just another word for a price increase. After all, who’s ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance – these are called The Key Features Documents. So, comparing otherwise like for like policies, in the early years the premiums for a “Reviewable Policy” will undoubtedly be lower than the premiums for a “Guaranteed Policy”. Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a “Guaranteed Policy”. In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy - after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy. A footnote. Many insurance companies have stopped offering “Guaranteed” rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, “Guaranteed” rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.

3. Thinking about a Joint Life Insurance Policy? A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer - but you get twice the cover and double the peace of mind.

4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover. Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy you’re arranging. Why? There are three reasons. Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older – so the sooner you take it out, the cheaper it will be.

5. Don’t confuse Terminal Illness cover with Critical Illness cover. There’s world of difference between Terminal Illness and Critical Illness cover so it’s important to understand the difference. Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. It’s basically an early, and welcome policy payout. A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover there’d be no chance of a payout. So as you can see, Critical Illness cover is far more comprehensive than simple Terminal Illness cover and for that reason critical illness cover always costs you extra.

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About the Author

Michael Challiner has 15 years experience in financial services marketing at senior level, the last 5 of which specialised in online marketing. Prior to that he spent 15 years in advertising with two of the world’s top advertising agencies, J Walter Thompson and Saatchi & Saatchi.Michael now works as the editor of Express Life Insurance on behalf of Andromeda Webs LtdAdditional reading on Critical Illness Insurance Additional reading on Terminal Illness Insurance

How Much Are You Saving by Refilling?

There is a formula for figuring out exactly how much money you can save by using a refill kit. You already know how expensive OEM inkjet cartridges are and you don't have to be a rocket scientist to know that you can save money by using them. But how many people know EXACTLY how much money they are saving? If you really knew I'd be willing to bet that if you aren't refilling now, you are going to take another look after reading this.

I'm going to use our HP790C3B kit as an example. This kit is used for refilling the very popular HP 51645A black and HP C6578 color cartridges.

Here is the formula:

S = (RC x CCC) + (RB x CCB) - RK

S = Your actual savings over the life of the refill kit
RC = The number of color refills in the kit
CCC = Cost of a new color cartridge
RB = The number of black refills in the kit
CCB = Cost of a new black cartridge

Lets plug in some numbers. Today I checked the prices of the aforementioned OEM cartridges on Staples web site.

HP 51645A - $29.99
HP C6578AN - $54.99

Our HP790C3B kit refills:

Black - 3 times
Color - 5 times

The kit sells for $27.95.

Here is the formula with the numbers plugged in:

S = (5 x 54.99) + (3 x 29.99) - 27.95
S = (274.95) + (89.97) - 27.95
S = 364.92 - 27.95
S = 336.97

Quite an eye opener isn't it? By spending $27.95 you can save $336.97. I would get some ink on my hands to save $337.00!

I believe wholeheartedly that if more people knew how much money they can save there would be a lot less of these cartridges ending up in the landfills.

Just please remember, start small. If you've never refilled before don't start by ordering a gallon of ink.

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About the Author

Barry Shultz is the author of Atlascopy News, and President of Atlascopy, Inc. Atlascopy specialized in affordable alternatives to the high cost of printer supplies.
http://atlascopy.com

The Money Jar Trap

Hundreds of thousands of people place their extra change into a jar or bank every night when they return home thinking that they are saving money. In reality, the dynamics of saving coins has changed over the last 10 years so that by placing your extra coins in a jar, you may actually be losing money. This is the new money jar trap.

The money jar has been a classic way for people to save money for generations. The concept was easy. After coming home for the day, you simply empty out your pockets and put the coins into a jar. When the jar was full, you take it to your local bank, have the coins counted and place the money into your savings account. While this sounds simple enough, the savings generated in the coin jar may not be worth their face value depending on how you redeem the coins.

The problem with the money jar game is that banks and other enterprises have figured out that they can charge you for taking your change. If there is a way to make a buck, you can be sure that banks and others will try to take it.

Take the convenience of changing your coins at a grocery store. CoinStar and other businesses will take your change and give you a receipt that you can use for your grocery shopping, but they'll also take a huge fee to do so. In effect, you are trading the face value of your coins for something worth less than face value.

More and more banks are also beginning to charge you to count coins if they will accept them at all. With the current rates that banks are paying on savings accounts, you'll likely have to leave the money your received for your coins in the bank several years just to break even with what you initially had.

What this all comes down to is that for many, keeping a coin jar is the same as losing money. Where it once was a great way to add to your savings, it has become as wasteful as keeping a balance on your credit cards. We have come to a time where the coin jar can actually cost you more money than you save.

There are a few steps that you can take to make sure that you aren't actually losing money when you think you are saving it. First, you want to make sure never to have your coins changed at a grocery or similar store. By doing so, you will automatically have around 10% of your money subtracted for fees.

Before you take your coins to your bank, make sure they don't charge any fees for taking the money. The policy for banks varies widely. Some will charge for loose coins, but won't charge if you roll the coins yourself. Find out what charges exist and if any do, consider switching banks. Credit unions are usually better at not charging fees for taking coins than banks.

If you can't find a bank that will take coins without charging you, then use the coins in your everyday use. You're much better off doing this that letting them sit in a jar where they will ultimately lose money for you. You can amend the money jar game to benefit your savings if this is the case.

Instead of saving coins, move up to $1 bills for your money jar. In this scenario, you'll be doing exactly what you have been doing, but you'll be saving $1 bills instead of change. You don't spend any $1 bills you receive, but any coins you receive are fine to use. That means all purchases have to be made with coins or large bills ($5, $10, or $20 dollar bills). At the end of the day, you place all your $1 bills into your savings jar. Since banks will not charge you anything to deposit $1 bills, you avoid the fees your would get for the change and save even more money than with coins.

If you think that changing the game will keep you from saving, another way to change the coins is to take them to your local post office and use them to buy stamps out of the vending machines there. By switching the coins for stamps, you get 100% value for your coins which is better than paying fees to have the coins switched to bills.

In the end it's important to remember that coins are legal currency and you can get full face value for them by spending them a little at a time. While a large amount of coins can be troublesome, there is no reason to pay a fee to have the coins deposited.

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About the Author

Copyright (c) Jeffrey Strain. He is owner of Save Money Games - a website dedicated to decreasing debt through money saving games.

How to Save Money as You Leverage the Power of Great Copy, Marketing and Brand Building

By Dina Giolitto

Like any budget-conscious business owner, you may feel uneasy about spending money on marketing. A few hundred here for website tweaks, a few hundred there for articles... it doesn't take much to swing the other way, from marketing optimist to doubtful, stingy, money-hoarding pessimist... does it!

Scrimping on the marketing, cutting back on the copywriting. Failing to keep pushing your name out there. Losing the customer advantage that steady search engine marketing brings.

This is what happens when you let your Inner Marketing Miser and Copywriting Curmudgeon get the best of you.

You needed complimentary advice and the copywriter came through? Great!

A friendly designer took the time to plug you on his blog, for fr^ee? Awesome!

It feels so good to know that we have online consultants rooting for us, helping us extend our marketing reach, offering support and guidance when we need it.

But as soon as we start talking bank, the friend boundaries grow blurry and we falter.

Fees and rates, negotiating project pricing... ah, the dirty words that lend a squirmy feeling of discomfort to your otherwise pleasant professional relationships.

What's a fair rate for the work that you need?

Even if you really love one copywriter's samples, should you turn them down in favor of another one who's maybe a little less impressive, but can offer you a great deal?

Seems to me, the real culprit that stands in the way of us getting our needs met, and not spending an arm and leg to achieve that, is FEAR.

People have a FEAR of asking for what they desire and deserve. And all that fear results in is NEVER GETTING what we could have, if we'd only spoken up.

For me, and the clients whom I trust, compromise works to overcome this fear, further cement our bond, and bring us closer to our respective goals while saving money in the long run.

And in most cases, budgeting your marketing requires having a long-term vision about your business goals.

Before you negotiate with your preferred copywriter or marketing expert, remember this:

Your money is their time. They set their rates keeping the time in mind that they will spend thinking and communicating on your behalf.

And also remember:

Their time is your money. So if circumstances make it difficult for them to carry out your request, that takes up more time, and there goes your money.

(I realize I just digressed, but it was worth pointing out anyway.)

Let's say that you work with a copywriter who charges $200 to write a press release. (Notice I didn't say "submit" a press release - that takes hours more research, time, and therefore, money).

You feel inspired and want to "put it out there." So you pay the $200. The writer delivers your goods, you send out the PR, and then sit back and wait for the action to happen.

Not a lot happens. Maybe you get a few nibbles and a flurry of hits. And then when the press release peters out, you're back to where you started, or so it seems.

And now you're thinking, what next? An article? A blog? I don't know what to do... but I do know that this marketing stuff is costing me money, and that hurts!

The problem here, is that there is no long-term vision. Marketing won't work if you do it once or twice. Marketing works when people keep on seeing your company name, news and advice popping up everywhere. That's the real foundation on which Big Brands are built.

And that's why if you DO have a copywriter or marketing pro whom you trust, it really does pay to just sit down and have an open discussion about your long-term goals.

What would you like to accomplish in a year? How much money are you comfortable spending on marketing, per month?

How much effort will it take to extend your scope of influence and develop mass awareness of your brand?

And finally... if you're talking about an ongoing relationship with one marketer, can you reach a compromise, in terms of hours and rates? Because, like any trust-based relationship... if you can't compromise, it's simply not going to work.

How long will it take, each month, to write and submit articles, press releases, manage a blog, publish an ezine, send out brochures, or do the things you know you need to increase exposure?

Is it true that if one copywriter keeps working on your material on a steady basis, it will take LESS time to draft new marketing pieces, than it would for someone who's doing it out of the blue?

(Yes, that IS true).

So: how much compromise is it worth to both you and your chosen copywriter and/or marketer, to establish an ongoing relationship where you entrust your monthly marketing needs to them, and they in turn help push your brand out there and bring you more customers?

If you propose to a copywriter that you'd like them to come down on their fees, in exchange for consistent work on a monthly basis, I guarantee that they will be open to such an arrangement.

(Because that's the thing that every freelance copywriter wants: steady work).

And then you could be looking at a considerable reduction in your marketing expenses, that you would NEVER have enjoyed had you just kept doing the "sporatic and impulsive" type of marketing that "feels" like you're spending less, but really you're spending MORE.

Commitment and compromise is what it all boils down to. And when you enjoy working with somebody, and you admire their talent, and you can feel that they are happy to communicate on your behalf, and you know they appreciate the work you do? Well, those are the best reasons of all to Have No Fear about asking for what you want in terms of regular advertising and then getting it.

So: do I have to come over there and wrestle a long-term marketing plan out of you? I've got copy and you've got product... time's a wastin'.

Copyright 2006 Dina Giolitto, Wordfeeder.com Copywriting and Marketing. All rights reserved.

Sign up for the Copywriting and Marketing Ezine from Dina at http://wordfeeder.com and learn to write search engine-friendly Web copy and market your Web based business for free.

Don't miss Web Content Awareness Day 2007 - a month-long "information celebration" from Wordfeeder.com. Visit http://WebContentAwarenessDay.com to learn more and sign up now.

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Envelope Budgeting -- A Proven Method for Budgeting

By Scott Carey

One of the successful budgeting systems that has endured over the years is called envelope budgeting. In earlier times, it was used to effectively manage a household’s money. It allowed you to know exactly where you were in your budget plan at any point in time and helped avoid credit card debt while providing an easy way to save.

So what is envelope budgeting? Quite simply, it is the dividing of income into categories of expenses, and then withdrawing that money from the category when money was needed to be spent. The money is literally put into paper envelopes.

For example, let’s assume that income for the month was $3000. When that money was received for the month, it would be divided up. Let’s assume that expenses for each month are budgeting to be the following:

Housing - $600
Utilities - $100
Food - $400
Savings - $600
Auto payments - $400
Auto Insurance - $200
Entertainment - $100
Auto Repair - $100
Medical Expenses - $100
Clothing - $100
Cell Phones - $100
Gifts - $100
Vacation - 100

After the $3000 is divided up for the month, each envelope would have the amount indicated above. When housing was to be paid, the housing money would be withdrawn from the Housing envelope (leaving it empty). When food was needed, money would be taken from the Food envelope, and so on.

When there are expenses that are needed on a less regular basis, such as Auto Repair, money accumulates in the envelope until it is needed. This allows you to save money for expenses until it is needed. The same method can be used with expenses that are needed only once a year, like automobile registration. Accumulate the part of the expense each month throughout the year and then you have it when you need to pay that expense.

The advantage of this budgeting method is that it is easy to tell how much money is left for the month for a specific category by seeing how much money is left in the envelope. If all the money for entertainment for the month is already spent, then no more can be spent on entertainment until the following month.

Another advantage with the envelope budgeting system is in how it helps with credit card use. Add another envelope for credit card payments. When a credit card is used for some expense, remove that money from the associated category and move it to the Credit Card envelope. At the end of the month, use the money in the Credit Card envelope to pay the credit card bill. This is a huge help in managing credit cards, because you are accountable to the amount of money in the envelopes, even when using your credit cards.

Modern day technology makes envelope budgeting easier than ever. The availability of computers and the internet make it easy to do envelope budgeting, giving you all the advantages of this system, but without the paper envelopes.

Learn more about Envelope Budgeting at http://www.manageyourbudget.com.

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Save Money And Travel The World In Luxury? It's Possible, If You Know Where To Look!

By Andrew Regan

With so many fantastic travel deals out there, why would you make a purchase without actively seeking out a bargain first? The online world, for example, affords endless offers on flights, accommodation and even activity-inclusive holiday packages - you just have to know where to look.

Many people refer directly to travel sites when trying to find special deals for flights or accommodation. However, it's wise to keep in mind that valuable travel deals and packages can be found everywhere, including through companies which are not directly related to the travel industry. For instance, it's not unusual for credit card companies to team up with airlines in providing their customers with "sky mileage", discounted accommodation or even free flight tickets. After all, with an increasing number of people searching for and purchasing their flights online, it makes sense to use a credit card to finalise any purchases. And, with incentives to use a specific credit card to pay for travel products or services, the consumer, as well as participating credit card and travel companies, will benefit.

So what's the best way to track such great deals? Take into account industries that might be related to the travel sector - even indirectly - like credit card companies. When you visit the website of the chosen company, make sure you click right through to their "special" or "current" offers; if there are any special travel deals to be had through the company, they'll be listed in this section. And while many companies offer special travel incentives to drive business, clients who take advantage of the deals needn't worry that they'll end up paying more in the long run than they would if they had found travel arrangements on their own. For instance, your "sky mileage" or travel points might depend on the amount of money you spend with your credit card. But if you keep up with your credit card repayments, you'll get to take advantage of the rewards without having to pay interest fees.

So whether you've been dreaming of exploring Thailand, relaxing in the Maldives or soaking up the splendours of Dubai, taking advantage of various money-saving travel deals ensures a comfortable yet cost-effective travel experience. It's always possible to save money and travel the world in luxury - you just have to know where to find the best deals. And if you really keep your eyes open for great travel offers, you might even fly for free.

Andrew Regan is an online, freelance journalist.

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Attention Small Business Owners You Can Save Money

By Martin Lukac

Did you know that you could save money at home businesses by spending time to research your tax deductions?

Sure, you can keep what you earn without giving the IRS a penny. You have alternatives for home office deductions, start-up fees, travel, motor vehicles, meals, entertainment, and so much more.

The first thing you need to do to save money is to keep accurate records of your inventory and other business records. Take time to describe your assets, and jot down how you bought your property. Take time to insert dates of services and placement as well as other details, since you will need these records come tax day to save money.

You have a tax cut on space in your home. A certain amount of area in your home is a write off. I think about 6' by nine unless you have a larger home business.

You can save money on business expense. Keep all your records and receipts on paper you buy, computers you invest in, or any other business necessities you may. You can even write off printers, fax machines, computers, or other losses that apply to your business.

You can also receive child allowances. If you have children and work at home, you can receive up to $1500 back from the IRS. Learn how and talk with your tax accountancy to see if you are eligible.

When you travel for business jot down how much money you spend in gas. Write in wear and tear of your vehicle and meals. You can get money back from the IRS, providing your travel and meals are for business purposes only.

If you have a business computer do not use it for anything other than business. The IRS will pay you back 100% if you use the machine for business owner. Buy a personal home computer for game player, etc.

You can get money back for phone expenses, fax expenses, bank fees, and utilities and can get money back for paying your rent. If you pay rent, keep your receipts so that you get a couple hundred returns.

You can save money on entertainment. In addition, you can save money on listed property, intangible assets, depreciation items, repairs, home improvement, real property, computer software, and more.

To save money and learn how you can save cash rather than giving it to the IRS, visit your library and check out the books that guide you to saving money.

RateEmpire.com, http://www.RateEmpire.com an Internet consumer banking marketplace. RateEmpire.com is a destination site of personal finance, investing, taxes and mortgage rates. RateEmpire.com provides mortgage guides and
financial rates and information. RateEmpire.com also operates a financial portal #1 American Home Loans, found at http://www.1ahl.com and search engine marketing website http://www.EnginePromoter.com

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