Why Businesses And Enterprises Need Certified Financial Planner

Generating revenue is important for an individual or organization. But most of us loose much of our hard earned money simply because we dont have much knowledge about the science of money. Those who are acquainted with law of economics will be able to manage the inflow and outflow of money in a much better way compared to those who dont have much knowledge about it. Certified Financial Planners are those people who are well-acquainted with the laws of economics and are expert in the field of managing funds. Hence, if you are willing to manage your fund in a scientific and lawful way you need to hire these individuals.

These individuals and professionals who are called as financial planners earn their designation after going through a rigorous training. They usually had to pass a comprehensive two day 10 hour exam. The exam is an extensive and comprehensive one and usually includes topics from subjects like Tax Planning, Financial Planning Process, Tax Planning, Employee Benefits, estate planning, insurance and investment management, employee benefits and retirement planning.

Before offering services to clients and prospects they usually need to get certified that they are serving clients in this field for at-least three years. They are also need to prove that they are well-experienced in financial counseling skills and financial planning. One of the major needs in the field of business and finance is that your inflow and outflow of money has to be managed and tackled in a Smart way. Means everything should be managed in such a way that it is specific, measurable, attainable, realistic and time driven. And these could be achieved only when you have someone who has scientific knowledge in the field of money.

These individuals and professionals make extensive and comprehensive plan about how you should invest your money for maximum returns, do you need to invest your money in stock market and which stock should you buy. They also gauge how much you can afford to lose and what you ought to do in extreme cases. This is why people should hire professionals that could offer you advise on how you should invest in a diversified portfolio that is made up of a mix of taxable and tax free plans so that you receive maximum returns even when the market is volatile.

These people could guide you about how you can get cash in case any emergency arises. They will also guide you how to could you get fixed income after your retirement and all those things. The bottom line is that if you want to invest and manage your cash flow in a scientific and profitable manner Certified Financial Planners could help you in many ways provided you choose the efficient and capable professionals who is acquainted with every ins and outs of financial planning.

The Importance of Getting a Travel Insurance

Most often, a person travel without taking care of his travel insurance. Don’t you know that you will get enough protection from the company that issue your insurance if you can plan accordingly. The main purpose of getting an insurance when you travel is self-protection; protected from any lost of valuable things, medical assistance, refund of tickets in case the flight is cancelled, and other situation occurrence that affect your personal travel in general. All of these are guaranteed to be paid the moment you have an insurance while travelling abroad. It is imperative that you carefully check the insurance travel policy to determine what are those covered areas of your insurance by the time you travel. There are some instances that the policy does not cover both illness and injury on your medical needs. This had become the common problems for travelers who is not fully aware of the laws incorporated under the insurance policy they purchase. The insurance company is no longer liable for problems that is not covered by the policy they issued. Always remember that you are only protected by your travel insurance with the specific terms and conditions stated and this is irrevocable. On many occasions, there are travel insurance companies that include coverage for children at no extra cost under their insurance policy. This is what you must check if you are planning for a long vacation with your entire family. The premium policies commonly cover 5 to 7 percent of your travel costs but these fees changes from time to time. For safe and hassle-free travel, make it a point that you are caring an official insurance certificate because this will help you a lot in different situations like cancellation of travel ticket, lost of baggage’s, dental and medical issues, death and accidents, evacuation, and more. Travel Insurance-How Affordable? There are so many ways that you can inquire for cheaper insurance online. The fact is, hundreds of these companies have their respective website promoting back-to-back promos of insurance policy that you can get for less. The price is highly dependable to the type of insurance services a company is offering. Some promotions are very enticing but don’t be confused and try to focus on what you are looking for. Never forget to ask for travel insurance quotes; compare the prices and determine the exact amount you need to spend. Travel Insurance Duration-How Long? When you are off for a short or much longer holiday trips, you can always keep your personal interest at a good stand point when you are insured from the time of your departure and arrival. The number of days an insurance can be used depends on what is stated under the terms and conditions of your insurance policy. This will be counted in the number of days you traveled. By the time your trip ended, your travel insurance can no longer be used. Keep in mind that some insurance have expiration dates.

Claims Payment Record Of The Private Insurance Companies

As we know, there are 20 odd private life insurance companies in India, and there is LIC which is a public sector company. LIC is the 800 pound gorilla, managing to hold on to about 75% market share even 10 years after private companies have been allowed into the life insurance space. The private life insurance companies position themselves on being more customer friendly, wider array of products etc while LIC holds on to its positioning of trust, experience and government backing. One of the key parameters on which to judge a life insurance company is their claims payment record. At the same time, we must note that given that life insurance has become more of a savings and investment product, the returns that they provide are perhaps more important than claims payout ratios. Nevertheless, claims record is definitely not a variable to be ignored.

A table illustrating the claims rejection percentages of the top life insurance companies in 2009-10 is presented below:

Life Insurance Company
Claims rejection ratio (%)

LIC 1.21%
Aviva 9.75%
Bajaj Allianz 5.2%
Birla SunLife 10.62%
HDFC Life 4.67%
ICICI Prudential 3.27%
ING Vysya 4.26%
Kotak Mahindra 4.29%
Max New York Life 12.31%
MetLife 5.94%
Reliance Life 7.05%
SBI Life 14.75%
Tata AIG 12.3%

An important observation from the above table is that the claims rejection ratio of LIC is the lowest, thus implying that their record is the best as far as claims payment is concerned. At the same time, the very high percentage of claims rejection of SBI Life and Max New York Life surely comes in as a surprise.

It must however be noted once again that in Unit Linked products that life insurance companies promote aggressively (or at least was promoting till Sep 2010) , the returns earned on the fund is perhaps a more important variable than the claims payment (or rejection) ratio. However, for non life insurance companies, which offer pure protection/insurance products with no savings or investment component, claims payment is the crucial variable along with the speed of processing of claims.

Let us now look at the incurred claims ratios of the non life insurance companies:

Non Life Insurance Company
Incurred claims ratio

New India Assurance 89%
Oriental Insurance 99.69%
United India Insurance 78.62%
National Insurance 99.16%
Royal Sundaram 68.95%
Reliance General Insurance 77.3%
Iffco Tokio Insurance 83.44%
Tata AIG 60.54%
ICICI Lombard 85.35%
Bajaj Allianz 71.9%
HDFC Ergo 80.73%
Bharti Axa 104%%

One data point that stands out from above is that Tata AIG General Insurance seems to be sourcing the best quality business from the underwriting point of view, whereas the claims payment ratio of Bharti Axa seems to be quite high. Alo,the claims payment ratio of the public insurers, at an overall level, is higher than that of the private non life insurers.

Life Insurance for people over 80

Can older people still be accepted for a policy? People from 80 – 89, in reasonable good health, should be able to find Life Insurance.

So why would an older person choose to shop for coverage? Some want to provide cash to pay for a good funeral. Grown children or other heirs may even buy a policy on the life of their parents. Many older parents are happy that their kids take that responsibility.

In general, premium increase as we age though.

The good news is that we are living longer, and top life insurance companies are more willing to offer affordable life insurance premiums to older people than ever before.

If you had a term life insurance policy that has expired, it would be a good idea to either renew the term policy or opt for a whole life policy. For seniors, the choices may be limited, but you can still get adequate coverage.

Before you make any decisions regarding exchanging your existing life insurance policy for a new one, or taking out any new policy, it would be a good idea to talk to a financial advisor about your options. There are many factors to consider and he/she will be able to guide you. Life insurance is a good thing to have, but you want to make sure that you’re not going to be either over or under insured.

Now you do not need to shop around if you contact MIntco Financial, a leading company in Life Insurance for Seniors in the U.S.

Mintco Financial has been helping thousands of seniors getting life insurance with exams or non medical exams – depending on your specific situation.

Also Seniors up to 89 years old can get Life Insurance but it depends on the State they live.

The best time to get a Life Insurance for Seniors is NOW.

” I got a call from a nice lady one week, and then the following week when we were going to do the application, she passed away. I felt bad, because the family had to cover all the final expenses. It is a burden for families these days. So my advice is do not delay, we never know what will happen the following day.” – says Michael Minter from Minco Financial.

The process is very easy and do not require too much of the time.

Call 813-964-7100 and Mintco Financial Advisors will shop for you the best quote among the top carriers.

Life Insurance for Seniors

Secrets To Financial Success 3 Keys To Taking Control Of Your Finances

The secrets to financial success are finally at your fingertips! No longer will you have to wonder about how other people do it. No longer will you have to deal with financial failure time and time again.

Read this article and find out the keys to financial success!

Secret to Financial Success # 1: Make Sound Decisions.

Hasty decision making rarely ever does anybody any good. It robs you of the ability to look at a situation sensibly.

If a genie were to suddenly appear before you offering three wishes but under a time limit, you would probably end up wishing for something that will only make you happy short-term, like a million dollars perhaps.

But if you had all the time in the world to think of what to wish for, you would be able to ask for something that could sustain you for a lifetime.

Secret to Financial Success # 2: Dont Put All Your Eggs in One Basket.

One of the keys to financial success is to invest wisely. There have been far too many stories of people putting their savings or their retirement money on the line for a chance to win big in the stock exchange market, or in a business that promises huge returns.

It’s a fact that nothing in this life is certain. A good hunch is still a hunch. Im not discouraging you from following your instinct. But make sure you dip your feet into the pool first instead of jumping right in.

Secret to Financial Success # 3: Manage Debts Properly.

Debts can very easily pull you down if you are not careful with your planning and decisions. But not all debts are bad.

In fact, credit card debts can be a good thing because you can pay for things without having to shed money immediately, and instead have that money earning interest in the bank for the time being. Plus you get to earn some points! Just remember to pay them when they’re due.

These secrets to financial success have been used time and time again by individuals who want to expand their wealth. You dont necessarily have to have a lot of money to begin with in order for you to win it big in life.

You only need to use your common sense. Dont decide on anything without even doing proper research. Dont bet all your money on one horse and manage your debts properly.