You've Found Personal Health Insurance; Should You Buy Long-Term Care Insurance for Aging Parents?

Planning to cover your own insurance needs, from finding good personal health insurance to choosing the correct auto insurance coverages, can be a challenge. Don't forget to consider your role in caring for aging parents as you build your insurance portfolio. Between the financial extremes of abundance (stockpiled cash, trust funds, or earmarked annuities) and a poverty-based qualification for Medicaid, choosing LTC insurance becomes more complicated when considering what's reasonably affordable. The price tag for three weekly in-home visits seems small compared to assisted living facilities, nursing homes, or continuing care retirement communities (CCRCs), but those home visits might not cover all your real needs.

Payment options are also a sobering concern. If your family member is a veteran, the Veterans Administration may pick up some of the expenses related to a stay in a long-term facility.

Medicare and private health insurance policies do not cover LTC; they generally cover only medicine and medical care—though Medicare covers limited short-term care services if they follow a hospital stay of more than three days. Medicaid only covers those without assets or income.

An increasingly popular option is LTC insurance. Advantages include lowered or locked-in rates if purchased well in advance of its use. Another plus is that most LTC premiums qualify for tax breaks. Remember, though, LTC insurance does not provide medical coverage. It is a complement to, not a replacement for, medical insurance.

Tips and considerations:

* Think about purchasing a policy before you or your parent reaches the age of 65. Today's healthy 50-year-old pays a yearly rate of about $1,500 for LTC coverage, while a healthy 65-year-old might pay $2,000 to $3,500. This increases in proportion to a decline in health. Overall rates are expected to increase dramatically in the next few years.

* Read the fine print! Ask an Elder Law Attorney to check policies before you sign them. Ask whether the premium can be modified in the future (e.g., whether additional coverage may be added, how coverage is adjusted with changes in health, and whether it would remain consistent if an emergency evacuation required a move), and at what price.

* Make sure the policy clearly states what is covered. Some policies cover nursing home care, but not assisted living; others are more inclusive. Choosing a limited type of coverage is often less expensive, but a gamble since need is hard to predict.

* Check whether the policy includes a waiting period during which you must pay all of your expenses out-of-pocket before your LTC coverage kicks in—a kind of LTC insurance deductible. The downside is that expenses during this period (called an elimination period) may be very costly and drain what resources you have. The upside is that some companies lower their premiums in proportion to the length of the waiting period, which can be up to 100 days.

* Look at what qualifications the policy requires for benefits to kick in. Does it require a hospital stay? What about pre-existing conditions? Does coverage change if dementia is thrown into the mix?

* Perform a background check on the financial health of your provider. Companies such as A.M. Best and Moody's do annual evaluations on all insurance companies, reporting such events as complaints filed for non-payment. Avoid providers with reputations for dropping clients when health status changes.

Finally, for all of these LTC options, remember the bottom line: Will your plan provide complete coverage, overall savings, and real value, or merely cut down on year-over-year cost?

Ryan Patterson is president of US Insurance Online, based in Austin, TX. He graduated in 2000 from the University of Texas with a combined business and computer science degree, and started US Insurance Online in May of 2005 with fellow entrepreneur Jim Waltrip. Visit http://www.USInsuranceOnline.com for help shopping for insurance and for free insurance quotes.

Article Source: http://www.ArticleBiz.com

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A Commercial Loan Can Spur Your Investment Portfolio On

By Aidan Kellsey

A commercial loan makes it easier for those searching for opportunities to develop their investment portfolio. Let your money work and give you additional constant income through property rentals.

If you are a novice investor, you may begin by leasing an apartment in your neighborhood. It will be easy for you to handle your property because you are already familiar with your vicinity.

When you have mastered the art of managing your own property, you are now qualified and prepared to invest in properties outside your neighborhood, perhaps in another subdivision, state or even country.

Qualifying for a Business Loan

While prices of real estate properties are still at the minimum, more and more people are getting investment loans. Some banks, on the other hand, are more careful and put up strict requisites for applicants.

The entire loan procedure begins when a broker provides you with estimate of the value of the asset have mortgaged in a commercial loan.

Before a business loan is approved, the bank or lender demands more requirements like particular details of the investment property.

Information such as location and nature of the property, revenues of the last two years and taxes paid are required by the bank or lending company. Most importantly, banks are meticulous with how the property will be used and what is the projection of its revenues.

The more comprehensive the information provided is, the higher is the possibility that the commercial loan will be approved. Also, expert assistance on this issue will also enlighten you on the nitty-gritty of commercial loan applications.

Tips in Getting an Investment Loan

Outlined below are some tips that you may want to utilize should you decide to enter the investment game in the future:

* Have a clean credit record.
* Keep up-to-date records of all your assets.
* Always be updated with the movements in the investment market.
* Compare lending rates.
* Learn the art of negotiation.
* Do a background check on the property.
* Always have a business plan ready.

Today, you as a buyer have the edge of getting real estate properties at low, low prices. The only occasion when prices of investment properties go up is following a mortgage mess. Prior to investing in any asset, always evaluate its viability first.

Decide to invest in something today before interest rates go up. According to a BusinessWeek report by Peter Coy, the National Association of Realtors is concerned that inflation rates will further go up as an effect of federal cuts. Optimists see this move in a different light, thinking that such will be advantageous to short-term adjustable loans. As an investor seeking to expand a portfolio, now is the time to invest.

Invest in your future now with a practical commercial loan, like an apartment mortgage or office building loans. Visit NationalCommercialFunding.com now for a free quote.

Article Source: http://EzineArticles.com/?expert=Aidan_Kellsey

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Motor Vehicles Dilemma: Loan or Lease?

Author: Amanda Hash

When you want to finance the acquisition of a motor vehicle the question that always rises is whether it is better to finance a motor vehicle purchase by using a specially tailored loan, another kind of loan or just resort to leasing. Each option has advantages and disadvantages and there is no straightforward answer to this issue. It all depends on your needs and your credit and financial situation.

Thus, before deciding which option is best for you, you need to understand the particularities of each alternative and compare them to your budget’s possibilities and your needs. Only then, you will be able to decide whether you should lease the vehicle or purchase it right away either with a motor vehicle loan or with another kind of loan.

Credit And Income Requirements

Loans imply harsher credit and income requirements mainly because the monthly payments on loans are higher than on lease contracts. In order to obtain a motor vehicle loan you need to show proof that you have a steady income fit to afford the monthly payments without having to make sacrifices and though the same goes to leasing, the amounts you will need to show you can cope with are smaller.

Leasing has less requirements because the motor vehicle remains property of the financial institution and if anything happens with the vehicle the insurance for which you will pay a monthly premium will cover for the loses. Thus, there is little risk for the financial institution which allows them to provide you with the motor vehicle without many requirements.

Leasing Explained

When leasing a motor vehicle, the financial institution purchases the vehicle which remains its property. The motor vehicle is handed over to the applicant who can use it in exchange for a monthly fee. After a period of time, the applicant has the option to put money down and obtain ownership of the vehicle. If so, the monthly payments are computed as part of the payment. Otherwise, they work just like a rent monthly fee.

Leasing provides a lot of flexibility: the applicant can use the vehicle just like if he owned it and the financial institution takes little risk because he retains the title of the vehicle and any damage is covered by the insurance for which the applicant has to pay a fee usually included in the monthly payments of the leasing contract.

Loan Or Lease?

Motor Vehicle loans and home equity loans can both provide you with the financing you need to purchase a motor vehicle. The latter is the best option if you are a homeowner as it provides inexpensive financing and the best loan terms. But if you can not afford such high monthly payments or you prefer to be able to exchange the vehicle for a new one in the near future, you should go for a leasing contract that provides more flexibility and more options for you if you change your mind about the vehicle. In any case, you should ponder the costs of each transaction prior to applying to see which one best suits your needs.

Amanda Hash, expert financial consultant, specializes in Car Loans for Bad Credit and Government Grants. Visit her at http://www.yourloanservices.com/

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Unemployed-You Can also take Loans

Loans for unemployed-as the name itself suggest, it is a special category of loan meant for those who do not have any employment. In other terms, we can say that even if you do not have any source of income, you can’t stop your expenses on basic needs. Expenses on basic needs means the money that you have to spend for survival such as expense on rental, food, clothing, tuition fee etc. Unemployed people find it no better than a double edged sword, since, on one side they do not have any permanent source of income and on the other side, they can’t stop their minimum expenses, which they have to meet under any circumstances.

Loans for unemployed are available in both the formats i.e. secured loan and unsecured loan. In case of secured loan, you have to offer the lender any of your asset as security against the money you borrowed. Similarly, lenders find less risk in offering secured loans because once they get any asset of borrower as collateral, they have the option to sale the asset and recover their money of the borrower defaults. However, in case of secured loans, lenders charge lower rate of interest because of comparatively lower risk. So, it is advantage for both-lenders and borrowers.

But in case of unsecured loans, lenders do have any security against the loan offered to the borrowers. Lenders, in this case, have more risk compared to secured loans. To compensate against the increased risk, lenders charges comparatively higher rate of interest in case of unsecured loans. So, it is a generally accepted concept that secured loans are cheaper than unsecured loans. However, rate of interest to be charged by the lender also depends upon the loan amount, rate of interest, loan duration etc.

Also, loans for the unemployed are a chance for unemployed people to improve their credit score by properly managing their finance. An unemployed person can also consolidate his loans through the loans for the unemployed.

Adame Barney is an MBA in Finance and has a rich experience of writing on topics related to finance.He is offering loan advice unsecured loans , unemployed tenant loans , loans for unemployed people visit http://www.loansforunemployed.me.uk

Source: http://www.articlealley.com/article_528797_19.html

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Cheque Book Mortgage Eliminates the Cheque Redundancy

Cheque books seemed to subtly evaporate out of the UK transaction culture, until recently, when the Cheque Book Mortgage revolutionized the dealing terms. A cheque book mortgage, also referred to as the Current Account Mortgage (CAM), is an innovative and flexible concept, which empowers the account holders in various ways and thus ensures much better control over the financial aspects. It is yet another addition to the mortgage types in UK, with a host of distinctive features for its users. If you have been struggling with the management issues in this respect, then read on and find out about a Cheque Book Mortgage and benefit from the various related features.

Conceptual Specifics

A current account mortgage has been christened as a cheque book mortgage as it enables all borrowings in a single account, with the provision of a cheque book to make drawings. With all borrowings the reference is towards mortgage loans, personal loans, credit card loans and all other current account and savings account transactions in one account. And despite the elaborated grouping, the mechanism is pretty straight forward. From the overall income deposited to this account, whatever is left post deduction of outgoings, is forwarded as the mortgage payment. This implies deployment of credit balances to balance debts. The foremost logical benefit extended by this procedure is the immediate reduction of interest payments.

Beyond the basics

In addition to extending the basic benefit of reduced interest charges, a cheque book mortgage also substantially assists by allowing overpayments, underpayments, lump sump payment terms, payment holidays and other such customized tools. For instance with the overpayments clause it means repaying more than the pre defined loan amount, thus saving on the corresponding interest charges. Likewise lump sump payments also impart the desired flexibility. While the stated are the features beneficial for those who expect surplus finances, provisions like underpayments and payment holidays, assist during the times of unanticipated overspending. This can perhaps be best understood by a self employed person, who has less income stability.

Another positive extension of this form of account maintenance is a lowered tax bill. With a cheque book mortgage account, at the surface there are no interest earnings and hence zero related tax. However, as evident, interest is saved and thus earned. Please note that the stated is just an overview on what all is possible with cheque book mortgage, the exact nitty-gritty however would vary with lender’s treatment of the subject.

The add-ons

A cheque book mortgage as a concept has overgrown its literal meaning i.e. the flexibility is no longer restricted to just the cheque book. Current account mortgage account subscribers also have the privilege of making payments via plastic cards. This feature extends the dual benefit of lowered interest charges along with the ease of handling as imparted by the plastic cards.

As evident, a cheque book mortgage allows financial freedom with the flexibility to control expenses in a very simple yet effective manner. With such accommodating tools to assist, dealing with debt should not really be an issue of extreme concern. The stated is especially true for those who find it almost impossible to maintain appropriate accounts and make payments to benefit most from the timely payment positives. However as this happens to be a crucial subject, with equally grave implications, it is advisable to refer to experts before moving forward. Concerns like the implications of lack of self-control or continual overspending would then be explicitly answered to ensure trouble free management of the cheque book mortgage in times to come.

Hayley Woodvine wrote the Article 'Cheque Book Mortgage Eliminates the Cheque Redundancy' and recommends you visit http://www.offsetmortgagecentre.co.uk/cheque-book-mortgage.html for more information about the cheque book mortgage.

Source: http://www.articlealley.com/article_528773_19.html

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