Smoking is Injurious to "Wealth" Say Life Insurers

This is a guest post written by Surabhee Gupta.

Well, you would have heard the age old adage of smoking being injurious to health which is definitely a fact but the habit can also make you lose money not only by making you spend money on cigarettes but also by spending more towards medical expenses.

You might be at ease thinking that you can always buy health insurance to pay for your medical bills just in case there is a need. But the fact of the matter is, given the risk factors associated with smoking, insurance companies charge higher premiums compared to those who don’t smoke. So if you happen to be a smoker and you want to buy an insurance cover, be prepared to out a significantly higher premium.

Why is Insurance Premium Costly for Smokers? 

 It definitely isn’t rocket science to figure out why insurance companies would charge you more if you are a smoker. Life insurance companies segregate policy holders into different categories or risk profiles based on a variety of factors such as age, overall health and lifestyle. The risk profiles may vary from a "preferred category" to "average" and eventually a "nonpreferred" risk category based on the factors mentioned above.

Based on your pre-purchase review, the insurance provider will accordingly allot you a specific risk profile based on which your premium would be decided. And when it comes to smokers, no matter how many cigarettes you smoke, you are more likely to be profiled in the high-risk category which would automatically lead to higher premiums.

For instance, take a look at the "sample" premium rates for smokers versus nonsmokers across an age group of 30 to 45 years for a pure term insurance plan. The difference in premium varies from 13% to over 20% which is significant considering the fact that the rates mentioned below are for term insurance plans which happens to be the cheapest insurance plans.

 If You Are a Smoker – Be Forthright About It

 Now if you happen to be a smoker, you might be toying with the idea of hiding the fact when you purchase insurance. Great idea, but don’t even think of trying it unless you want your policy request to be rejected. And even if you end up buying a policy, you would keep paying for insurance that has a high likelihood of running into claims related issues where the insurance company is entitled to reject your claim. So to put it in simpler terms, it is always advisable to be forthright and disclose about your smoking habits to avoid problems in the future with respect to claims processing.

What Happens If You Start Smoking After You Have Purchased Insurance? 

Now this can be a tricky one but if experts are to be believed, if you start smoking after you had purchased a policy, you don’t need to necessarily disclose the same to the insurance provider. However, if you die due to a smoking related ailment, then the insurance company could take objection during claim settlement.

So what’s the Best Thing to Do to Avoid Any Sort of Confusion? 

Well, the best thing to do obviously is to stop smoking altogether. Insurance providers during the application process ask people to disclose if they smoke or have used any other tobacco product in the last 12 months. If you have indeed used a tobacco product during the specified timeframe, go ahead and declare it. And if you have been a nonsmoker or have abstained from smoking for a really long time, then claims getting rejected due to smoking related ailments should be the least of your worries.

Qualities of an Ideal Financial News Channel

When seeking a great source for your financial updates there are a variety of different outlets. Reliable financial news is hard to find as most local news resources are more biased or add in the entertainment news as filler that most people are not interested in. Another issue when looking for the perfect news outlet is that there is not enough international news on American television.

 Your search for informative news broadcasts is of interest to all cable providers. Theirs is a competitive industry as they sort out their channel line up to persuade the public to subscribe. Cable TV deals and bundles are definitely the pattern today. Specials in the form of promotional offerings bombard you, the customer, in all media.

At one time in the not too distant past, the radio and television networks provided news reports that were for the most part non-partisan and non-biased. Today, however, you cannot find a truly unbiased news broadcast televised on any cable network. All too often, you must browse around to view news broadcasts from each network (and perhaps BBC America as well). Afterward, you then evaluate what you learned in your browsing and determine the probable truth summary of what the news announced. As far as international news American news channels don’t offer equal parts of international and local news.

In a way it’s called thinking for yourself but facts seem to be subjective these days.

The ideal financial news channel would be one unaffiliated with political agendas. A news channel should announce the news, not interpret it. Too often you must hear first the announcement of the event, and then the news journalist's opinion of what the event means. We have become a nation talked down to even in televised news broadcasts. This is not the American custom in news gathering, and it was once a definite dereliction of purpose and journalism if the news person was paid to give the news with a partisan slant or was proactive regarding a particular agenda.

 Each cable provider now has the opportunity to change this unfortunate evolution of news broadcasting to news interpretations. The bastion of free press used to be in the safety net of multiple networks, but times have changed and public networks belong to their own partisan groups of advertisers and contributors. Your cable industry can bring the newscaster back into the fold of your heroes of yesteryear. The newscaster's word on the air was definite, a contract with you that the news broadcast was correct, concise, and you did not need to have it now "explained" to you.

Your news, whether global, national or local, should be accessible at little or no cost. Cable TV deals could provide this, especially if the providers would contract as a group to do so. CSPAN is one example of this working well. Your news should be a report that is your right to see or hear, and then to behave according to your personal beliefs and persuasions. You have your intact powers of deduction. You are sold everything from soap to fantasy on today's media, but your news reports should not be something available to the highest bidder.

The truth in broadcasting benchmark should be returned to the American news viewer. Your cable providers are able to affect this, if they should so decide.

Optimism remains high as Jordan tackles its economic difficulties

It always seems to be a case of good news and bad news as far as Jordan is concerned. Yes, times are indeed tough with civil war raging just across its border with Syria. How the war eventually impacts Jordan's economy in the medium to long-term is a question which at the moment can only but remain unanswered.

Short-term, and with Syrian refugee numbers climbing above 250,000, international aid has been vital in helping provide some – but not all – of the costs of shelter, food and medical care for those  fleeing the civil war. How long the Jordanian government can go on meeting the increasing aid balance is yet another unanswered question.

Yet optimism remains high both within government circles and among members of a dispirit business community always ready to explore new markets or pursue any potentially profitable venture or corporate opportunity. A strong and resilient banking sector continues to provide vital support along with useful products and services such as the business credit card, corporate account and payments and cash management services so necessary nowadays for commercial success.

But all of that aside, Jordan industry and trade minister Shabib Ammari is one who retains a positive outlook despite the problems afflicting the country. He told the Reuters news agency recently that while he expected foreign direct investment to shrink slightly this year, he could see figures for next year growing to between $2bn and 3bn.

Part of that inward investment will come from funds released by the IMF as part of a $2 billion loan deal – a Stand-By Arrangement (SBA) as the IMF call it – which was approved in August, last year. A second tranche of the SBA, worth around $384 million, has just been released following a mainly-positive review of Jordan's economic performance to date.

The hope is the IMF loan will support economic reforms aimed at maintaining macroeconomic stability and improving the fiscal and external positions, while protecting the vulnerable segments of the population and fostering stronger and more inclusive growth.

Following discussions on Jordan by the IMF Executive Board, Ms.Nemat Shafik, Deputy Managing Director and Acting Chair, said, “The authorities have managed a difficult environment by taking appropriate policy actions under their Fund-supported economic program. Their efforts have mitigated the adverse impact of regional political instability, higher energy import prices, and a large influx of refugees from Syria.”

The removal of fuel subsidies last year accompanied by a cash transfer to compensate lower and middle income groups was, she said, an important step toward a stronger fiscal position and improved social equity. This, together with other revenue and expenditure measures, had paved the way for higher capital spending in the current budget. Looking ahead, it remained important to further improve tax administration and the public financial management.

Ms.Shafik said the central bank had managed pressures on reserves well by raising interest rates and maintaining the attractiveness of dinar-denominated assets. Its focus on further building foreign exchange reserves and containing inflation remains warranted.

She added, “The planned increase in public investment will support growth. Additional reforms to boost competitiveness and reduce unemployment remain nonetheless essential. Recent measures to improve access to finance for small and medium enterprises, strengthen banking supervision, develop capital markets, and promote youth employment are welcome steps in the right direction.”

The full IMF statement can be seen here.

Tips for getting a car loan

Buying a car often involves a lot of money. However, there are a handful of those who can afford to pay such huge sums to bring home their chosen sedan. If you too have been eying a car but don’t have the funds to buy it, consider getting a car loan  for the purpose. However, to ensure that you choose the right one, here are some tips to remember:

·         Check and compare finance schemes: Different banks and financial institutions offer different finance schemes with varying interest rates and discounts. You may even find some car dealers, who have tied up with financial institutions or banks to offer you such loans. With so many schemes to take your pick from, it becomes important for you to check and compare a few shortlisted ones to make a wise decision. 

·         Evaluate loan features: You should assess factors like interest rates, loan term, reputation of the lender etc to ensure that you get a good deal.

·         Go for a higher down payment: If you can make a larger down payment, you will end up paying less on account of interest rates. In case you don’t have the money to pay such a huge sum, you may consider taking a small personal loan  to use the money for your car’s down payment.

·          Be careful to take note of the fine print: Read the fine print of your loan document carefully to ensure that no additional fees are charged, which you might be unaware of. There are many instances where people don’t look into the fine print related to establishment fees, early repayment fees, annual fees or additional charges for defaulting on a payment. So, read carefully to avoid problems in the future.

·         Get car insurance: You can get insurance for your car, thus reducing your risk greatly, especially if some unfortunate incident were to befall you. In such cases, the insurance will effectively lessen the trouble, which might have otherwise been a big burden on your family. Some lenders may even insist on getting disability insurance or life insurance to ensure that the applicant’s family is able to repay the money should something untoward happen to the main applicant.

So, follow these tips as mentioned above and you will find that lack of funds no longer hold you from laying your hands on those coveted car keys. After all, it’s a delight to drive your own car!

Summary: If you are thinking about getting a car loan, read about some tips which can help you make an informed choice. Remember – lack of cash in hand doesn’t mean that you can’t buy your sedan since different banks and financial institutions offer loans for the purpose.

How can I be wise in selecting the Private Wealth Management Services?

“A penny saved is a penny earned” are you aware of this little sentence which holds a great value in your life , yeas you read exactly correct your life as without money you can’t live a life ?  I know you have considered to use and spend wisely that’s the sole reason you are reading this post. Congratulations for at least helping yourself to take this decision of managing you so called wealth, which is of prime importance in this century as well.

You may have a lot of reasons that now you are looking for Private Wealth Management Services. May be you were among the lucky ones who got an inheritance and now are searching for a reliable wealth manager. Is it like you are not satisfied with your current banker and it’s hard to make that decision of change? Mandy of you really do not know how to go about this in a proper way.

How to choose your Private Wealth Management Services?

The following are a few yet important points you need to keep your mind on:

Self analysis - the first step is to choose the right bank for you

Go and make your list of the candidates who seem to have potential

Putting the candidates through paces will help you

Analysis of the investment proposal with keen eye to detail is a must

Finally select the best wealth manager, or you can go for a few among the top listed

We will discuss some Portfolio Services. These are accounts with in the investment portfolio which are mostly managed through a professional wealth manager. These accounts can be molded according to the specific objectives and needs. If you are investing in the Portfolio Management Services, you are likely to own an individual security which is not possible with a mutual fund investor as they own units of the whole fund. With a PMS you posses the freedom and also a good amount of flexibility as you are enabled manage and alter your portfolio in order to address the personal preferences and  your financial goals too.

Now if you are investing in a stock market it can be quite risky when you don’t know how and when to make an investment in the market. The sole reason for opting stock brokers is this. A stock broker will assist you to make your investment. He will give you the knowledge to make it in the right time and in the most right place. Helping you to manage your investments along with your money in the Indian stock market is also their job. As they have an experience of the stock market for years, you can trust them as they know the best way to earn you money. They also help you to build your portfolio and also provide assistance to manage it.