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Life Insurance For Mums
In the bustle of day-to-day family living, life insurance might be the furthest thing from your mind. But as a parent, it’s important to consider how your family would manage if you were no longer around.
All mums work. Some have paid employment, some look after the house and home, and many do both. Whatever your routine and responsibilities, your children depend on you.
This means that, if something were to happen to you, the impact on your family would be huge. Although nothing can replace a cherished parent, taking out a life insurance policy can at least mean that, if the worst happened, your family would have a financial safety net.
Besides covering any loss of income, the policy payout could prove essential in paying for the childcare or domestic services your family might need without your day-to-day care.
Remember — a person generally only needs life insurance if they have financial dependents, such as children, a partner or other relatives. When your children are grown and financially independent of you, you might consider stopping your life insurance, unless at that point you wanted to keep a policy running for the potential benefit of your spouse or partner.
Your choice of how long you want your policy to run for may also be determined by the age of your children and how long you expect them to be dependent on you.
Types of life insurance
Term insurance
There is a wide variety of life insurance policies on the market, and which one is the best option for you depends on your circumstances.
Term insurance policies pay out a lump sum, chosen by you, if you pass away within a pre-specified period of time — known as the ‘term’. At the end of this set period, you are no longer covered and will need to take out a new one.
Some ‘renewable’ policies allow you to extend your cover into the future, although these may come with higher premiums from the get-go.
There are different kinds of term insurance to consider.
Level term life insurance Level term policies pay out a specified amount if you pass away during the policy term.
Decreasing term insurance The amount this type of policy pays out if you die within the term decreases over time. This is a low-cost option where the amount of cover is designed to match the reducing amount of debt on a capital & interest mortgage, with the term aligned to the duration of the mortgage deal. The drawback of having insurance closely linked to the mortgage is that, once the debt is cleared, there is nothing left over for other needs. But if affordability is an issue, decreasing term insurance is certainly a worthwhile option.
Increasing term insurance — With increasing term policies, the lump sum paid out in the event of your death increases over time by a set amount. The aim is to preserve the real value of the potential pay-out from the ravages of inflation over what could be a number of years. Increasing term cover costs more than decreasing or level term.
Family income benefit Instead of a lump sum, this type of policy pays out a regular monthly income to your chosen beneficiaries if you pass away during the policy term. Payments continue to the end of the term. The total payout you’ll get is typically lower than other policy types — but premiums tend to be lower, too.
Joint life insurance
If you and your spouse or partner are raising children together, you could consider taking out a joint life term insurance policy. This type of policy will only charge one premium but cover you both, making it cost-effective.
However, it pays out only once, if the first person passes away. The survivor would then be left without cover and would need to buy another policy. And because of their greater age at that point, the premiums would be higher.
For this reason, taking out two individual policies may provide you with better coverage and peace of mind.
Critical illness cover
Many life insurance providers also offer critical illness cover as part of their life insurance policy.
Critical illness cover pays out if you are diagnosed with one of a set list of critical illnesses specified by your provider during your policy term.
If you have this cover alongside your life insurance, you need to check how the life insurance company will respond to a critical illness claim.
In some cases, the critical illness payment will not affect the life insurance cover, meaning the policy would pay out on diagnosis of the illness and again if death occurred within the term.
Some policies end if a payment for critical illness is made, meaning the life insurance provision also comes to an end.
In some cases where this happens, you may be given the option to take out a policy with the same firm at a lower premium than you would pay elsewhere on a like-for-like basis.
Adding critical illness cover to your insurance policy as a parent might be a good idea if you’re a primary caregiver. With critical illness cover in place, you’ll receive a payout that could help you cover the costs of childcare if you temporarily become too unwell to look after your child.
Terminal illness cover
Terminal illness cover pays out if you are diagnosed with a terminal illness and are unlikely to survive for longer than 12 months. This allows the policyholder to make arrangements and ensure their dependents will be cared for after their death.
It is often included in life insurance policies as standard. If a terminal illness claim is paid, the policy ends and there are no more premiums to pay. No additional claim will be paid when death occurs.
Whole of life cover
As the name suggests, whole of life policies cover you for the entire remainder of your life, so long as you keep up with premium payments. It is guaranteed to payout whenever you die.
This type of policy typically commands a higher premium than its fixed term counterparts, and your premium could go up over time.
Whole of life policies tend to be used for estate and tax planning purposes and are not as efficient as providing immediate financial protection as term policies.
Some whole of life policies also include a savings element. Part of your premium is set aside as a cash saving or investment that you may be able to withdraw during your lifetime, or use as collateral against new borrowing.
Choosing a policy as a single mum
If you’re raising children as a single mum, it’s a good idea to take out an individual life insurance policy. This ensures that, should anything happen to you, your children will be supported.
If you pass away during the policy term, your chosen beneficiary will receive a payout. You can select whoever you like as a beneficiary — usually your children, or the person you entrust to care for them if you’re no longer around.
If your children are under 18 when you pass away, their payout will need to be managed by a guardian until they become legal adults.
Another option is to select their guardian as one of your beneficiaries. The payout they would then receive will provide financial support that will help them care for your child.
Should you put your life insurance policy in trust?
Yes! A trust is a legal arrangement that places all your assets (cash, property, and life insurance policies) with a trusted person or people — named ‘trustees.’
In the event of your death, your trustee makes sure that these assets are divided between the beneficiaries you specify, in line with your wishes. You can choose anyone you like to be a trustee, such as a legal professional, family member, or close friend, so long as they are over 18.
Your beneficiaries can also be your adult children. The same person can be both trustee and beneficiary. If your child is underage, an adult trustee will need to look after their assets until they turn 18.
With policy written in trust, the pay-out is shielded from inheritance tax. If it is not written in trust, the pay-out is added to your estate, where inheritance tax may be charged at a rate of 40% on any amount above £325,000.
When a policy is written in trust, it is not included in your estate, meaning any claim can be paid to the trustees without delay.
Most life insurance providers offer to write your insurance policy in trust, and if they don’t you should request it. There should be no additional charge for writing your life insurance policy in trust, and there is no need for you to have legal advice or support — it’s a safe and sensible option.
Remember that once a life insurance policy is written in trust, the decision can’t usually be reversed and you can’t change your beneficiaries.
Getting the right level of cover
Before taking out a new life insurance policy, it’s a good idea to check whether you have any existing cover. For example, some employers provide death-in-service cover, which pays out if you die while working for your employer.
However, even if you have existing cover, you might need to take out an additional policy to get the security you require, especially if more children are born.
As a parent, adding critical illness cover or taking out a second policy to increase your payout could be worthwhile.
How much does life insurance cost?
The price of your monthly premium depends on factors such as your age, health, occupation, lifestyle, and the amount of cover you need.
Premiums are relatively affordable, since there’s plenty of competition between providers, and start from as little as £5 or £10 a month.
When you are young and healthy, you can expect premiums to be lower, gradually increasing as you age.
How much life insurance should you get?
It’s possible to argue that you can’t have too much life insurance, but remember that the amount of cover you secure — the sum insured — is one of the main factors determining the size of your premiums.
When working out your ideal sum insured, factor in all your debts and commitments, such as mortgage or rent obligations, personal loans and credit card balances.
Next, think about the running costs of the family for the years to come, and that means all the basics — food, clothes, bills, holidays, and education.
And don’t forget the financial provision for buying the services that you currently provide, from childcare to looking after the home.
Once you have a figure for annual expenditure, multiply it by the number of years you’ll need cover for — which may mean figuring out when you can expect your youngest child to be on their own two feet, financially.
You’ll probably be surprised at how high the figure is. But if you have a spouse or partner who is bringing in an income, you can make reductions accordingly, provided they have a cover of their own. You can get life insurance prices quickly and easily using our quotations facility, so you can see how much you’d be likely to pay for different types of policies and amounts of cover. You can then determine what is the right combination of price and protection for your needs.
Credits: Bethany Garner
Date: May 20, 2022
Source: https://www.forbes.com/uk/advisor/life-insurance/life-insurance-for-mums/
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You could be owed thousands in life insurance money without having a clue
Believe it or not, but thousands of dollars could be sitting in a vault right now with your name on it.
In fact, Americans have unearthed more than $1 billion in unclaimed life insurance policies and annuities in the last few years alone.
Here’s how to find out whether a loved one had a life insurance policy and whether you’re on it.
Why are payouts going unclaimed?
Oftentimes loved ones fall ill, develop dementia or die without ever mentioning they had a life insurance policy.
Other times, insurers can’t find a beneficiary because of outdated contact info — or they don’t even know the policyholder has died.
You may be surprised to learn there is no “master list” of who is dead or alive. The Social Security Administration does track people who receive its benefits so they don’t keep sending payments to the deceased, but that doesn’t account for everyone.
“Millions of people, in fact, are not covered by Social Security (federal employees, state employees in four states, railroad employees, etc.), and therefore would not appear on this list,” notes the New York-based Insurance Information Institute.
Back in 2013, Consumer Reports estimated that your odds of having a lost life insurance payout in your name was about 1 in 600.
The average payout at the time was $2,000, with some as high as $300,000.
How do I find out whether I’m owed money?
You can find many easy-to-use tools online to help you hunt for your missing payout. The challenge, though, is that you’ll have to look at a few of them to be truly thorough.
Your first stop when nosing around for missing money is — appropriately enough — MissingMoney.com, a major database for all kinds of unclaimed property.
After that, try these dedicated tools:
NAIC Life Insurance Policy Locator Service
The biggest and best tool available was launched in 2016 by the National Association of Insurance Commissioners (NAIC).
More than 227,000 requests were made via the free and confidential tool, the NAIC reported in mid-2020. People found more than 81,000 matches worth over $1 billion in life insurance claims and annuities.
You’ll need to provide some details about the policyholder, including their birth date and Social Security number. A death certificate can help with that information.
If there’s a match — and you’re a beneficiary or otherwise legally allowed to be informed — the relevant insurer will contact you directly.
Veterans Affairs Unclaimed Funds Search
If you think you may be the beneficiary of a U.S. military veteran’s policy, the U.S. Department of Veterans Affairs (VA) has a searchable online database to check out.
The database tracks unclaimed death awards, dividend checks and premium refunds from VA Life Insurance Funds. (Two other types of VA policies, Servicemembers Group Life Insurance and Veterans Group Life Insurance, are not included.)
If the post office can’t track down the rightful recipient, the cash is returned as undeliverable to the VA.
In the event that you find a veteran’s record with the name you entered, you must contact the VA to give additional identifying information to prove you are entitled to the money.
State locators
Twenty-nine states offer their own free locator tools, like the Illinois Department of Insurance Life Policy Finder, and other forms of assistance.
If you’re unsure whether your state’s insurance department has an equivalent, try giving them a call.
And if there’s a chance the policy originated in Canada, you can try contacting the Canadian Ombudservice for Life and Health Insurance.
Other avenues to search
There are several other methods to search for lost policies, but you have to put on your detective hat.
The first step is to ask people who were close to the policyholder. Talk to family, friends, coworkers, previous employers, social groups, labor unions, spiritual advisers and doctors.
That could lead you to a number of professional advisers, like lawyers, financial planners, accountants, insurance agents and others who could share something useful.
Next, look for a paper trail. There may be bank records, documents filed away and income-tax returns to review. Even a safety-deposit box may hold key information.
There are private companies that charge fees to search on your behalf. It may sound like less of a hassle, but make sure you are dealing with a reputable company that is going to put in the work.
Credits: Matt Krantz Date: June 7, 2022 Source: https://finance.yahoo.com/news/could-owed-thousands-life-insurance-233000292.html
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8 Insurance Stocks to Buy Before Interest Rates Rise
CFRA Research says these insurance stocks are undervalued.
The insurance business is a relatively defensive industry that typically remains stable during fluctuations in the overall economy. Insurance companies make money selling policies, but they also profit by investing the money they take in. Rising interest rates are good news for the typical insurance company, and insurers selling products guaranteeing a set return benefit the most from higher rates. Elevated inflation levels have many investors anticipating much higher interest rates around the corner at some point. Here are eight of CFRA’s top insurance stocks to buy in the second half of 2021.
Chubb Ltd. (ticker: CB)
Chubb is the world’s largest publicly traded property and casualty insurance company. CFRA analyst Catherine Seifert says Chubb has demonstrated positive pricing momentum in recent quarters, and COVID-19 claims have moderated. She says Chubb is among the industry leaders in underwriting and is poised to gain market share from competitors in the aftermath of the pandemic. CFRA projects net premium growth of 6% to 10% in 2021 and 2022, and Seifert is forecasting $11.35 in 2021 earnings per share, up 16.9% from 2019 levels. CFRA has a “buy” rating and a $185 price target for CB stock.
Marsh & McLennan Cos. Inc. (MMC)
Marsh & McLennan is one of the world’s largest insurance brokers, providing insurance, investment management and consulting services. Seifert says Marsh & McLennan will benefit from post-crisis demand for risk management and transfer services while avoiding the claim costs facing many underwriters. Seifert says Marsh & McLennan has room for margin expansion and share buybacks. She projects revenue growth of at least 6% in 2021 and an additional 5% in 2022. Seifert says Marsh & McLennan shares are undervalued relative to peers, and solid pricing and demand trends could be bullish catalysts. CFRA has a “buy” rating and a $150 price target for MMC stock.
Aon PLC (AON)
Aon is a professional services and consulting firm that specializes in risk management, retirement and health care services. On July 26, Aon announced that its proposed merger with Willis Towers Watson PLC (WLTW) had been canceled after the U.S. Justice Department filed an antitrust lawsuit in June. Seifert says the timing of the antitrust suit was strange, given that the deal was announced 15 months ago. However, she says stand-alone Aon is still well positioned to benefit from a favorable insurance pricing environment, a rebound in consulting services demand and ongoing restructuring actions. CFRA has a “buy” rating and a $275 price target for AON stock.
MetLife Inc. (MET)
MetLife is a diversified U.S. life insurance and financial services provider. In April, MetLife completed the $3.94 billion sale of its property and casualty business to Farmers Group Inc. Seifert says the property and casualty exit helps streamline MetLife’s business mix and reduce its interest rate sensitivity. Seifert projects operating revenue growth of at least 6% in 2021 and 5% in 2022. A recovering U.S. labor market should catalyze group life sales, and Seifert says rising demand for pension risk transfer products should boost retirement products earnings growth. CFRA has a “buy” rating and a $74 price target for MET stock.
American International Group Inc. (AIG)
American International Group is a multiline insurance company with a global property and casualty presence. In July, AIG announced a deal with The Blackstone Group Inc. (BX) to sell 9.9% of its life and retirement, or L&R, unit for $2.2 billion. The deal also established a strategic asset management agreement under which Blackstone will manage $50 billion in L&R assets. AIG will also sell affordable housing assets to Blackstone for $5.1 billion. Seifert says AIG’s restructuring efforts, including the Blackstone deal, are a bullish catalyst for AIG shares. CFRA has a “buy” rating and a $58 price target for AIG stock.
Prudential Financial Inc. (PRU)
Prudential Financial specializes in insurance, investment management and other financial services. Seifert says Prudential shares are undervalued relative to its peers and its own historical valuation. She says growth trends in asset management and retirement savings are bullish catalysts. In addition, Prudential’s international insurance unit differentiates it from peers and should be a long-term growth source, she says. Seifert forecasts at least 3% operating revenue growth in 2021 and 2022 and says earnings per share will rebound to $12.95 this year. CFRA has a “buy” rating and a $115 price target for PRU stock.
Allstate Corp. (ALL)
Allstate is the largest publicly traded personal lines property and casualty insurer. The company recently announced a deal to sell 80% of its life insurance business to Blackstone for $2.8 billion. Seifert upgraded Allstate following news of the life insurance exit and a $3.1 billion asset writedown in the first quarter. She says the company now has more capital to devote to its higher-return property and casualty business, and the stock could potentially reduce its valuation discount relative to peers if Allstate can increase its return on equity. CFRA has a “strong-buy” rating and a $160 price target for ALL stock.
Willis Towers Watson PLC (WLTW)
Willis Towers Watson is the third-largest global insurance broker. Seifert says the Justice Department’s suit to block the Willis-Aon tie-up creates near-term uncertainty surrounding the stock and the company’s planned asset sales to satisfy European antitrust regulators. However, she says Willis is a solid long-term investment as a stand-alone company, given the strong insurance pricing environment and the rising demand for risk transfer and consulting services. In addition, Seifert says restructuring efforts have increased pretax margins by nearly 2% and return on equity by roughly 3.5%. CFRA has a “buy” rating and a $270 price target for WLTW stock.
Insurance stocks to buy before interest rates rise:
Chubb Ltd. (CB)
Marsh & McLennan Cos. Inc. (MMC)
Aon PLC (AON)
MetLife Inc. (MET)
American International Group Inc. (AIG)
Prudential Financial Inc. (PRU)
Allstate Corp. (ALL)
Willis Towers Watson PLC (WLTW)
Credits: Wayne Duggan
Date: July 30, 2021
Source: https://money.usnews.com/investing/stock-market-news/slideshows/insurance-stocks-to-buy-before-interest-rates-rise?slide=13
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How to Use Email Drip to the Fullest
Email drip campaigns produce impressive results when done properly.
One of the best marketing platforms available is email. Email marketing is more profitable for acquiring customers than social media, with a return on investment (ROI) of $38 for every dollar invested.
In contrast to previous emails that were equally useful, new subscribers will only start receiving brand-new emails as soon as they sign up.
However, email automation strategies improve conversions by assisting you in cultivating relationships with subscribers. The outcome? Improved audience engagement, trust, and click-through rates.
Here is a comprehensive guide on email drip campaigns and how to use them to your advantage.
What Makes Email Drip Campaigns Important?
Email drip campaigns are automated email series that are distributed to leads at regular intervals. Based on specific user actions or where they are in the purchasing cycle, the leads in your funnel set off these sequences. There are a few reasons why these automated email sequences are necessary.
A rise in email open rates is the first thing. When subscribers are triggered by drip email campaigns at particular stages of their customer journey, only pertinent information is “dripped,” making it nearly impossible to look away.
Want a brief illustration? What will happen, in your opinion, if a welcome email is substituted for a cart abandonment email when contacting a new lead? Your bounce rates will rise sharply! However, the likelihood of this happening with automated drip campaigns is essentially nonexistent.
When they believe an email is pertinent, potential clients are more likely to open it. Since they were expecting it, welcome emails receive 4 times as many opens as standard marketing emails.
Drip campaigns involve sending a subscriber a series of emails using your email marketing automation software. In order to nurture and add value at each stage of the sales funnel, use drip email marketing. This will increase conversions.
Consider These Five Types of Email Drip Campaigns
Every email drip campaign has a clear intention and goal. As a result, your drip emails foster a relationship with your recipients in order to guide them toward the objective. If you’re making drip email sequences, take into account these points regardless of your objectives.
Segmenting the Audience
Email Content
Quantity of Emails
Interval Between Emails
Overall length of a drip email campaign
When creating an email drip campaign, consider where subscribers are in the buying process. Sending new subscribers a series of welcome emails, as an example. In this way, you can target a specific group of your audience with content.
You must write the content for each email you’ll send out before automating email drips because they are automated. If you’re creating email content for various email campaigns, this might be challenging. But avoiding the hassle of starting from scratch when creating a delicate series of emails is possible with an effective content strategy.
Your goal will determine how many emails you send. The maximum number of emails you should probably send in a series is three to five. Here are drip email campaign ideas for your next marketing campaign.
1. Welcoming
Welcome emails are incredibly useful. Apart from the fact that it’s a chance to introduce the goods and services associated with your brand, saying “thank you” to subscribers is just polite manners. Future interactions will be characterized by these emails. They present an opportunity to inform potential customers about your business.
Send the first welcome email as soon as a lead subscribes to your email list for the best results. Following that, in the coming days, send out a second and third welcome email outlining your business and all it has to offer. To ensure that your emails are delivered to the intended recipients, it is advised to first double-check new leads’ email addresses.
Your onboarding emails may contain pertinent details like excerpts from popular blog posts, a discount for signing up, customer reviews, case studies, or a quick welcome video.
The email drip campaign example from Loom is perfect in every way. The aforementioned illustration also functions as an onboarding sequence for Loom, providing pertinent information that introduces Loom to the new user.
Make the most of your welcome email sequence to highlight your offerings and orient new users to your website.
2. Birthdays
Birthdays have positive energy that you can use in your drip email marketing campaign. Create a birthday email drip campaign for your customers’ special day to show them that you appreciate them.
Having trouble capturing someone’s birthday? Simple to do. Create custom fields for your landing pages and sign-up forms. One of your welcome or onboarding email sequences should include a request for it. Create a quick email campaign to ask for someone’s birthday; it works!
Use individualized, attention-grabbing subject lines, such as “[Name] — We want to send you a birthday gift!” Set out why you require their birthday in the email body and observe the results.
Once you’ve obtained that information, present the birthday person with a gift, such as an alluring discount or coupon code.
On a birthday campaign, stay away from bombarding customers with emails. Remember, it’s only one day. To users who didn’t open the birthday email or didn’t use their coupon, it would be a good idea to automatically send a recall. By encouraging bigger purchases, this gives you another opportunity to convert customers.
Make your birthday emails stand out by including vivid photos or GIFs and clear, concise copy that includes instructions on how to redeem their gift.
3. Cart Abandonment
Even though not all of these may be applicable to your shop, you can use a successful cart abandonment sequence to get people to come back. You might have the chance to provide incentives like cash back or free shipping.
As an alternative, you could include specifics about your brand’s products, use cases, or customer testimonials in your follow-up emails to nudge recipients to make a purchase.
Sending repeated emails will get you there, just like other email marketing drip campaigns, but cart email campaigns work best when the timing is right.
Send the first email one to five hours after the customer leaves their shopping cart abandoned for best results. Next, plan the following emails for the third and fifth days, respectively. But keep in mind that after the first 24 hours, the effectiveness starts to decline.
Personalization of your subject lines works in conjunction with a strong CTA to increase email open rates and pique customer interest.
4. Cross-selling or Upselling
Drip email campaigns can also be used to cross-sell and upsell your goods and services.
Pitch a related good or service when a customer makes a purchase, or a more expensive version of what they already have. This will improve customer satisfaction and provide a greater value proposition.
Your timing is critical when sending cart abandonment emails.
Instead of sending these email sequences to potential customers, you should instead send them to current clients or trial participants. When you introduce a new product, when these users reach a certain milestone, after they make a purchase or finish a free trial are all possible scenarios.
Based on the actions — or inactions — of test users on their website, freelancers send tailored emails.
For this user, this email contains valuable content, but the magic is in the timing. It might be annoying and ineffective to offer upsells to every customer who has just made a purchase.
Consider the needs of your customers when determining which audience group would profit from cross-selling or upselling, and then send that group a specific email sequence.
5. Promoting Limited-time Deals
Everyone enjoys being made to feel special. You can create a sense of exclusivity for your customers by running limited-time offer drip campaigns. In other words, exceptional. Rather than using pressure to persuade customers to buy, salespeople should instead rely on psychological factors such as desire and logic to motivate them to act quickly.
While the second can emphasize why your offering is the best deal available at the time, the first special offer drip email campaign can focus on the needs of buyers.
Despite the fact that not all special promotions benefit from a GIF call to action, be sure to explain to customers why they should take advantage of your exclusive, momentary offer. Your conversion rates can go up the more convincing your justification seems, making them feel valued.
Get Started with Email Drip Campaigns Today!
An email drip campaign could help your overall email marketing efforts. You can boost conversions, welcome potential clients, and strengthen client loyalty by interacting with current ones with the help of a successful drip marketing campaign.
Instead of thinking of your drip email sequence as a single process, think of it as a multi-stage strategy for nurturing and converting leads. There are a variety of drip email campaign concepts available, each catered to your marketing objective.
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The Advantages of Business Marketing
As a business owner, it’s crucial to make sure you have all the necessary systems in place. Without them, how can your company function or possibly survive? Marketing is now acknowledged as one of a company’s key systems, alongside accounting and human resource systems. Even though it has taken some time, marketing is now more crucial than ever.
Why?
The advantages of marketing will become clear as you establish your brand, increase your visibility among various audiences, and gain an advantage over the competition. Without a doubt, every company needs to be aware of the advantages of marketing and the different kinds of marketing tactics that can help you build a strong customer base.
Here are six benefits of having a marketing strategy:
1. Achieving More Sales
Effective marketing strategies will increase your sales.
It goes beyond merely luring in new clients. A well-designed marketing strategy will also encourage more sales from your existing and previous customers, despite the widespread misconception that marketing is solely about attracting new clients. When it comes to making future business plans, that is nothing but good news.
Understanding marketing strategies has several key advantages, including increasing your brand recognition, making you simpler to find when customers need what you sell, and increasing your visibility when people are interested in learning more about what you do. There are many advantages to marketing, but when it comes to boosting sales, it is the one business management tool you should never be without.
2. Utilizing and Looking after your Reputation
In this highly connected world, reputation is proving to be a crucial differentiator.
The way people perceive your company is crucial. Being open with customers, interacting with them, and employing clever strategies will improve your reputation as you market online and through advertising. One marketing benefit that smaller companies either ignore or dismiss is developing your brand’s reputation.
Reputation is more important than ever because consumers today frequently conduct extensive research before purchasing any goods or services. Beyond that, The use of your company’s good reputation to market your business is referred to as reputation marketing, a distinct category of marketing.
To ensure they maintain their reputation, large businesses use brand content that builds a positive reputation and a monitoring strategy. However, even for smaller businesses, the right marketing strategies can be very successful in building brand value. It’s a challenging topic to master, but if you want to improve your reputation, it’s difficult to beat the marketing advantages of highlighting and utilizing your good reputation as a marketing asset. When used properly, your reputation will result in greater levels of trust from your target audience, better talent being drawn to your team, and increased revenue.
3. Advantages of Audience Marketing
Gaining information about your target audience(s) will enable you to more precisely target your strategy and advertising by providing you with data and metrics.
One of the best ways to create a variety of revenue streams from segmented audiences is to use a targeted marketing strategy based on data about your customers. When you have a thorough understanding of your audience, you can target them with messages that address their unique needs and problems.
In order to begin, you must first divide your target market into clearly defined segments. You will be able to send marketing messages that are more likely to resonate once you understand what each of those segments is looking for. Your audience will be more responsive because you’re finding and presenting marketing messages that target their precise In order to begin, you must first divide your target market into clearly defined segments.
4. Gaining Someone’s Confidence
Building trust is crucial for successful marketing because it is priceless. Trust will keep customers interested in your goods, services, and brand.
Your company will have a lower likelihood of making sales if there are no trust signals. Regardless of how effective your marketing campaign is at drawing visitors to your website, if they encounter anything that makes them unsure of their ability to trust you, they will look elsewhere.
Business relationships require trust to be successful. Your company strengthens those trust signals by utilizing a marketing strategy that emphasizes all the factors that give customers reason to have faith in you. It resembles a perpetual motion machine that produces what it needs while also feeding itself. Growing your trust indicators is, to put it simply, one of the most helpful marketing strategy advantages.
5. Comprehending What Works
You can tell what works and what doesn’t by using effective marketing techniques.
The metrics can assist you in deciding what to do, when to do it, and what to avoid when you have a number of campaigns. Email marketing is among the simplest marketing methods to employ that illustrates this. Social media initially made email marketing less effective, but it’s now regarded as one of the best tools for successful marketing.
This is in part due to how simple it is to run A/B tests on marketing emails. You can test different types of content on different audiences by segmenting your email output and using marginally different content for each. As a result, you know what to do if you find that your email open rates are higher when the subject line is “Guide to our Best Weekly Deals” rather than “Special Offer This Week.”
6. Gaining Market Knowledge
You will gain a better understanding of the market you are operating in as a result of the marketing process.
Knowing your customers and your market are both crucial. Naturally, having distinct brand personas is more crucial than ever so that you can position your goods and set their prices to capitalize on the market to the fullest.
But as with everything else in running a business, the more you know, the simpler it is to spot opportunities. Knowing everything there is to know about your market is crucial for small businesses in particular. That necessitates having a deeper understanding of your target market. It entails being aware of your regional, national, and global rivals.
It also entails being aware of market developments, trends, and trends in consumer behavior that may alter your business model. You can obtain valuable market insights and useful financial forecasting data with the right marketing strategies.
The Advantages of Modifying your Marketing Strategy
Using effective marketing techniques has a number of ancillary advantages. The six points mentioned above are some of the main ways that effective marketing can make your company successful. Due to the intense competition in today’s market, your company needs to be aware of the advantages of marketing while also ensuring that the systems are in place to support your marketing efforts.
Your marketing efforts will pay off greatly if you invest the time necessary.
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Which Keanu Reeves character would struggle the most to get insurance?
Keanu Reeves has been a meme multiple times throughout his career. This includes three decades of saying “woah”, a transcendent cameo in “Always Be My Maybe” and photos of him just generally looking sad.
Keanu broke out in 1986 with “Bill & Ted’s Excellent Adventure” and cemented his starhood with major action roles like “The Matrix” and “John Wick.”
As the internet’s obsession with this elusive man grows stronger, it seemed only natural I ask the experts here at Policygenius the burning question we’ve all had about Keanu Reeves: Which of his characters is the least insurable?
I turned to Jake Roszkowski, a senior case management associate at Policygenius who has seen “Point Break” dozens of times, and Patrick Bell, a senior sales associate who has never seen “Point Break,” but knows a lot about buying life insurance. With the advice of these experts, I dove in.
Methodology
I bet you didn’t expect a methodology section. Some of us take these things seriously. Keanu Reeves has 99 acting credits to his name, according to the Internet Movie Database. To narrow it down, I stuck to his most popular films, based on box office gross. I also threw out movies in which Keanu plays himself (sorry “Always Be My Maybe” fans) — I assume he has insurance IRL. I also tossed out movies that took place so far in the past that insurance didn’t exist (sorry “47 Ronin” fans).
That got us to the following 11 characters, whom I ranked from most to least insurable.
11. Kevin Lomax, ‘The Devil’s Advocate’
Kevin Lomax is an attorney who takes a job at a big-time New York City law firm. Also, his boss is Satan.
Aside from that, Lomax is an excellent candidate for insurance.
“As a lawyer, he’s going to get the top occupation class for disability insurance on any carrier,” Roszkowski said. “That means his rates will be super affordable.”
He can also expect to get good life insurance coverage.
10. Alex Wyler, ‘The Lake House’
Alex Wyler is an architect staying in a lake house who is corresponding with a woman two years into the future. While that’s weird, Wyler should be fine insurance-wise.
“White collar occupations like that get good rates,” Roszkowski said.
“I don’t think there’s any issue with time travel,” Bell said. Good to know!
9. Shane Falco, ‘The Replacements’
Shane Falco is a disgraced college quarterback that lives on a boat and collects scrap metal for a living, until he gets signed to play for a professional football team during a players’ strike.
As a professional athlete with a high income, Falco would have to go to a specialty carrier for disability insurance, Roszkowski said. As a football player, he should be able to get life insurance, but may pay a higher rate because of the health risks of the job. (Learn more about how star athletes do insurance.)
8. Thomas Anderson aka ‘Neo,’ ‘The Matrix’
Thomas Anderson works a regular old desk job inside the shared simulation of the world known as the Matrix. So he’s probably be a good candidate for both life and disability insurance, Bell and Roszkowski said.
On the other hand, Neo escapes from this illusion into a post-apocalyptic society in which he’s leading a desperate battle against evil machines.
In this scenario, “We can assume insurance companies don’t exist,” Roszkowski said.
7. Jack Traven, ‘Speed’
Jack Traven is a SWAT officer for the Los Angeles Police Department. While police officers don’t usually pay extra for life and disability insurance, SWAT officers are an exception. While Traven wouldn’t be denied outright, he’ll have to pay extra for both life and disability insurance.
6. Johnny Utah, ‘Point Break’
Like Shane Falco, Johnny Utah is a former college quarterback. Unlike Falco, Utah has found success in his adult life, as a rookie FBI agent. Utah goes undercover, and as part of assignment, takes part in surfing and skydiving, dangerous hobbies that are frowned upon by many disability insurance carriers, Roszkowski said. Plus, Utah has a pre-existing condition: A college knee injury that still bothers him.
At best, Utah will be limited in any attempt to get disability insurance and any coverage he gets will exclude knee injuries, Roszkowski said. Skydiving will make life insurance more expensive as well.
“The knee injury depends on if he takes pain medication for it,” Bell said. If he does, it could lead to higher rates.
5. Ted, ‘Bill & Ted’s Excellent Adventure’
Ted is a high school student who uses a time machine to improve his grades in history class. As Bell said before, time travel is no big deal when it comes to insurance. But Ted is a minor, which makes him a bad candidate for insurance because he has no income to protect.
“So the only coverage he’s eligible for is whole life,” Roszkowski said.
4. Klaatu, ‘The Day the Earth Stood Still’
Klaatu is an alien.
“We can assume that he’s not a United States citizen, which may cause barriers to coverage,” Roszkowski said.
Green card and visa holders can get life insurance, but I don’t believe Klaatu applies for a travel document in the movie. Maybe it’s in the deleted scenes.
3. Conor O’Neill, ‘Hardball’
Conor O’Neill is a gambler who is deeply in debt. To repay it, he coaches a kids’ baseball team, for some unknown reason. Coaching is fine, but most insurance companies will likely frown on O’Neill’s gambling.
“That’s probably something they consider pretty risky because if he loses all his money they’re not going to get paid,” Bell said.
2. John Wick, ‘John Wick’
John Wick is a former assassin who gets sucked back into his old life because his dog dies. Over the course of three movies, he gets shot or stabbed many, many times.
“That’s a hazardous occupation,” Bell said. So hazardous, Wick would get declined outright for life insurance or pay an exorbitant price, bulletproof suit notwithstanding.
1. John Constantine, ‘Constantine’
John Constantine is a detective who specializes in the occult, which I guess is a job? He’s got a lot going against him when it comes to insurance: One, he’s attempted suicide. A history of depression isn’t a complete road block to life insurance, but severe cases can lead to denial. Two, he has terminal lung cancer. Three, he is a chain smoker.
In general, the healthier you are, the better a candidate you are for life and disability insurance. Without (spoiler alert) divine intervention John Constantine has terrible odds of getting coverage.
“That’s a decline,” Bell said.
Credits: Myles Ma
Source: https://www.policygenius.com/life-insurance/news/keanu-reeves-insurance/
Date: July 5, 2019
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6 celebrities who made unfortunate life insurance decisions
It’s easy to assume that the rich and famous have enough money to last multiple lifetimes, and that they have access to some of the best financial advice on the planet.
But sometimes elite status, exorbitant amounts of wealth, and risky lifestyles can cause celebrities to either ignore the necessity of life insurance or fall prey to less-than-stellar advice.
Here are six celebrities who made unfortunate life insurance decisions.
1. Heath Ledger
On January 22, 2008, at the age of 27, actor Heath Ledger died from a drug overdose. Although he did have a will, it had been written three years prior to the birth of his and Michelle William’s daughter, Matilda, so his estate was left to his parents and sister. He also had a $10 million life insurance policy for Matilda, but the insurance company, ReliaStar, tried to deny a percentage of the benefits because of Ledger’s failure to disclose a speeding ticket, his recreational drug use, and the possibility that his death was a suicide.
Officials ruled that Ledger’s cause of death was accidental intoxication. In July 2008, attorney William Shernoff filed a lawsuit against ReliaStar Life Insurance Company on behalf of three-year-old beneficiary Matilda, and the parties reached a settlement out of court.
To his credit, Ledger had his estate and life insurance planning in place. Unfortunately, omitting information on his application, not updating his will to include his daughter, and mixing prescription drugs were not the best decisions.
2. Larry King
In October of 2007, CNN talk show host Larry King filed suit against a Maryland-based insurance brokerage for poor advice. According to the lawsuit, The Meltzer Group persuaded King to invest in a series of “highly complex life insurance transactions,” which involved flipping insurance policies for profit.
In 2002, King purchased three policies with a total value of $10.5 million to protect his family. In 2004, King was advised on more than one occasion to purchase a life policy with a trust under his control, and then to resell his stake in that trust. In February of 2004, he used a trust to buy a $10 million life insurance policy and then sold it for $550,000. Later, in October 2004, he bought a $5 million policy and resold it for $850,000.
King profited $1.4 million on the policy sales, but gave up two life insurance policies, which totaled $15 million. King fell prey to questionable advice and says that the insurance agency should have warned him that his age and health might make buying replacement policies difficult.
3. Michael Jackson
On June 25, 2009, at the age of 50, legendary singer Michael Jackson went into cardiac arrest and died from an overdose of a surgical anesthesia in combination with sedatives. The “King of Pop” was just about to embark on a comeback concert tour. He left behind three children.
Jackson died with a trust meant for his children that was never fully funded. His parents fought against his former attorney and manager to become appointed executors of Michael’s estate. Although his fortune had once been estimated at $1 billion, there were also reports that, at the time of his death, he had an estimated debt of $400 million.
Jackson’s former attorney and manager were appointed temporary administrators of Jackson’s will and quickly settled on a life insurance payout of $3 million, though initial reports indicated the his policy was worth up to $20 million.
4. Lenny Bruce
Comedian Lenny Bruce was known for his vulgar satire. He was convicted in 1964 for obscenity, and when he was found not guilty, the trial was seen as a landmark for free speech. Unfortunately, the comedian had a hankering for hard narcotics, and was found dead from a morphine overdose in the bathroom of his home on August 3, 1966.
The trial, as well as questionable legal troubles and drug addiction, forced him into bankruptcy and he was nearly out of money at the time of his death. He failed to purchase a good life insurance policy to leave behind to his daughter Kitty and estranged wife Honey Harlow.
5. Whitney Houston
On February 11, 2012, 48-year-old singer Whitney Houston was found dead in a bathtub at the Beverly Hilton Hotel. The cause of death listed was drowning, while heart disease and cocaine use were ruled to be contributing factors. Unfortunately, the public wasn’t shocked to hear of her untimely death, as her struggle with drugs and alcohol had been quite public.
Although documents from her 2007 divorce from Bobby Brown claimed she earned over $1 million from performances, she only had $312,000 worth of life insurance.
6. Corey Haim
On March 10, 2010, actor Corey Haim — known for his 1980s stardom — was found dead in his home, at the age of 38. He left behind no assets or liquid assets, not even a car. He never married and had no children; his only family were his parents.
Haim did not have a life insurance policy. Although he was known for his drug abuse, he died from pneumonia. Had he purchased a life insurance policy, it might have paid out due to the natural cause of death, and his parents could have received the benefits.
Credits: Vanessa De La Rosa
Date: December 06, 2013
Source: https://www.thinkadvisor.com/2013/12/06/6-celebrities-who-made-unfortunate-life-insurance-decisions-2/
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A Short History Of Bitcoin And Crypto Currency Everyone Should Read
Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time.
Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million.
Photo by Chesnot/Getty Images
Those who don’t learn from history are doomed to repeat its mistakes — so here is a brief history of Bitcoin and cryptocurrency.
1998–2009 The pre-Bitcoin years
Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption. Two examples of these were B-Money and Bit Gold, which were formulated but never fully developed.
2008 — The Mysterious Mr Nakamoto
A paper called Bitcoin — A Peer to Peer Electronic Cash System was posted to a mailing list discussion on cryptography. It was posted by someone calling themselves Satoshi Nakamoto, whose real identity remains a mystery to this day.
2009 — Bitcoin begins
The Bitcoin software is made available to the public for the first time and mining — the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain — begins.
2010 — Bitcoin is valued for the first time
As it had never been traded, only mined, it was impossible to assign a monetary value to the units of the emerging cryptocurrency. In 2010, someone decided to sell theirs for the first time — swapping 10,000 of them for two pizzas. If the buyer had hung onto those Bitcoins, at today’s prices they would be worth more than $100 million.
2011 — Rival cryptocurrencies emerge
As Bitcoin increases in popularity and the idea of decentralized and encrypted currencies catch on, the first alternative cryptocurrencies appear. These are sometimes known as altcoin and generally try to improve on the original Bitcoin design by offering greater speed, anonymity or some other advantage. Among the first to emerge were Namecoin and Litecoin. Currently there are over 1,000 cryptocurrencies in circulation with new ones frequently appearing.
2013 — Bitcoin price crashes.
Shortly after the price of one Bitcoin reaches $1,000 for the first time, the price quickly begins to decline. Many who invested money at this point will have suffered losses as the price plummeted to around $300 — it would be more than two years before it reached $1,000 again.
2014 — Scams and theft
Perhaps unsurprisingly for a currency designed with anonymity and lack of control in mind, Bitcoin has proven to be an attractive and lucrative target for criminals. In January 2014, the world’s largest Bitcoin exchange Mt.Gox went offline, and the owners of 850,000Bitcoins never saw them again. Investigations are still trying to get to the bottom of exactly what happened but whatever the story, someone dishonestly got their hands on a haul which at the time was valued at $450 million dollars. At today’s prices, those missing coins would be worth $4.4 billion.
2016 — Ethereum and ICOs.
One cryptocurrency came close to stealing Bitcoin’s thunder this year, as enthusiasm grew around the Ethereum platform. This platform uses cryptocurrency known as Ether to facilitate blockchain-based smart contracts and apps. Ethereum’s arrival was marked by the emergence of Initial Coin Offerings (ICOs). These are fundraising platforms which offer investors the chance to trade what are often essentially stocks or shares in startup ventures, in the same manner that they can invest and trade cryptocurrencies. In the US the SEC warned investors that due to the lack of oversight ICOs could easily be scams or ponzi schemes disguised as legitimate investments. The Chinese government went one further, by banning them outright.
2017 –Bitcoin reaches $10,000 and continues to grow
A gradual increase in the places where Bitcoin could be spent contributed to its continued growth in popularity, during a period where it’s value remained below previous peaks. Gradually as more and more uses emerged, it became clear that more money was flowing into the Bitcoin and cryptocoin ecosystem. During this period the market cap of all cryptocoins rose from $11bn to its current height of over $300bn. Banks including Barclays, Citi Bank, Deutsche Bankand BNP Paribas have said they are investigating ways they might be able to work with Bitcoin. Meanwhile the technology behind Bitcoin — blockchain — has sparked a revolution in the fintech industry (and beyond) which is only just getting started.
Whatever your opinion on Bitcoin and cryptocurrency — and educated commenters have described them as everything from the future of money to an outright scam — it seems they are here to stay. Will it succeed in doing what many early adopters and evangelists claim it is destined to — replace government-controlled, centralised money with a distributed and decentralized alternative, controlled by nothing besides market forces? Well, 2018 may yield some clues but we are unlikely to know the answer for some time yet.
Credits: Bernard Marr
Date: Dec 6, 2017
Source: https://www.forbes.com/sites/bernardmarr/2017/12/06/a-short-history-of-bitcoin-and-crypto-currency-everyone-should-read/?sh=3a7c6de33f27
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How does smoking affect your life insurance?
Have you ever thought of how much impact smoking has on your finances? Health Canada’s cost calculator finds that smoking half a pack a day can cost up to $2,500 per year. Meanwhile, on a nationwide scale, the Canadian Cancer Society reported that smoking generates $6.5 billion in health-care costs yearly. And the expenses don’t end there — not if you’re looking to get life insurance.
What does life insurance have to do with it? Your life insurance rate depends on how healthy you are right now. But it also depends on whether you’re putting your health at risk with lifestyle choices like smoking. Here’s how this costly habit can affect your life insurance premium.
How smoking can affect your life insurance premium
To start, let’s look at the basics of life insurance. You buy a policy that provides financial protection and pay for it with monthly or annual fees, called premiums. What happens if you die while the policy is still active? Your beneficiaries get a specific amount of money stated in the policy, known as the death benefit. They can then use that money to help pay off debts, mortgages, loans and other living expenses.
Basically, life insurance can help give your family financial assistance and security after you die. So, how do insurance companies put a price on that security? A lot of the cost of life insurance depends on your current state of health and your family history. But what’s one of the biggest factors insurance companies look at when assessing your health risk? Whether or not you’re a smoker.
Paula MacMillan is a Sun Life Financial advisor in Winnipeg. “The health hazards of smoking and the risks it puts on your life are well-known,” she says. So what happens when an insurance company reviews your life insurance application? “They’ll want to know if, among other things, you’ve been smoking cigarettes or using any tobacco or smoking cessation products in the past year.” Underwriting is when an insurance company reviews your health risks after you’ve applied for life insurance. This process lets an insurer calculate the coverage you’re eligible for. It also ensures your premium reflects the level of risk.
Simply put: Your risk level affects your premium. “Being a smoker puts people at a higher risk of smoking-related illnesses,” Macmillan says. “And this translates to higher premiums.”
How much more do smokers have to pay for life insurance?
Smoking comes with a price. But exactly how much higher are life insurance rates for smokers? “A lot of people I’ve worked with were surprised to find that compared to non-smoker premiums, life insurance rates can be much more costly for smokers,” MacMillan says.
For instance, let’s take a 30-year-old, non-smoking man with a $700,000, 20-year individual term life insurance policy. He might get quoted a monthly premium of $50.13. But if he turns out be a smoker, his monthly premium could become $98.01. And what happens if he takes up smoking before it’s time to renew his policy? Then he can expect to pay a lot more than if he had remained tobacco-free.
From her experience, MacMillan finds that it helps to show smokers what their non-smoker rates would be. “Just knowing how much they could be saving gives them one more reason to quit,” she says.
Who’s considered a smoker on a life insurance application?
Most insurers would categorize people as smokers if they regularly use tobacco or nicotine in any form. This includes the following products:
Cigarettes, cigars and cigarillos
Chewing tobacco
Smoking cessation products like nicotine gum and patches
Does vaping affect your life insurance?
An application might not ask about vaping. But many applications require medical tests. These tests can detect the nicotine in your blood or urine regardless of how you consume it. So if you vape, you could still be listed as a smoker.
Does cannabis affect your life insurance?
What if you’re a casual cannabis user, who doesn’t combine marijuana with tobacco? “Then you could fall into the non-smoker category for life insurance,” MacMillan explains.
But what if you’re consuming cannabis regularly or more than once a day? “Then it’s likely that you’ll pay a higher rate,” she says.
What happens when a smoker buys life insurance online?
“Online coverage can’t distinguish between smokers and non-smokers, so the rates are usually blended,” MacMillan says. In other words, you could pay somewhere between the smoker and non-smoker rates even if you don’t smoke.
What happens to your life insurance premium if you quit smoking?
Ready to butt out? The year you quit smoking, you’ll see a drastic improvement in both your health and your finances. In terms of your life insurance policy, you may be eligible for non-smoker rates if you can:
Sign a non-smoking declaration stating that you’ve been a non-smoker for the last 12 months. This means you no longer smoke, consume or use cigarettes, cigars, chewing tobacco, nicotine patches or gum.
Have a urine test to prove there’s no trace of nicotine in your system.
Confirm that there haven’t been any significant negative changes to your health.
MacMillan finds the last point could pose a problem in certain cases. “Insurers want to know what made you decide to quit,” she says.
What if you choose to quit because you’ve just had a serious health complication and your doctor advised it? “Then they’re not going to categorize you as a non-smoker,” she adds.
Let’s say you bought a permanent individual life insurance policy as a smoker. But you’ve decided to quit smoking after surviving a heart attack. At this point, your health still puts you in a high-risk category. This means your insurer is unlikely to remove the smoker rating from your policy — even if you quit.
Getting a premium reduction can be difficult if you have other health risks holding you back. But it’s still possible — especially if you quit smoking while you’re still healthy. Bottom line: If you can quit smoking, you can start saving.
CREDITS: Farhana Uddin
DATE: July 04, 2019
SOURCE: https://www.sunlife.ca/en/tools-and-resources/money-and-finances/understanding-life-insurance/how-does-smoking-affect-your-life-insurance/
#AreteAutomation#LifeHealthAdvisors#LifeInsurance#LifeInsurancePolicy#FinancialAdvisors#Knowledge#BestForHealth#HealthIsWealth#Life
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Life Insurance Clauses Determine Your Coverage
Most life insurance policies are multiple pages of hard to read or difficult to understand jargon and clauses. After looking through the document you may be wondering if you’re covered and if so to what extent and in what circumstances. Perhaps you ran across the incontestable clause, spendthrift clause or reinstatement clause and were completely confused on what these mean and if they apply to your coverage.
Life insurance is a wealth-generating tool. It eases your surviving family’s financial burdens in your absence and may also provide periodic income. This temporary source of funds can take care of needs like mortgage payments, medical emergencies, and educational needs. However, to make sure that your life insurance policy will provide for your family when you can’t, you need to understand the product you are buying.
Read on to get a better understanding of the clauses contained in most life insurance policies and find out what they mean to your coverage.
Beneficiary Clause
The main aim of life insurance is to transfer wealth to your heirs or to provide liquidity to your family. For that reason, you need to name a beneficiary who will receive the life insurance proceeds after your death. This beneficiary can be your spouse, children or relatives. You also can change the recipient anytime during the term of the policy.
However, if you haven’t nominated a beneficiary, your family will be in for trouble when proceeds are paid out. The insurance money will go to your estate and the probate fees needed to settle your estate can dig a hole in your surviving family’s savings.
Therefore, it is always practical to have a primary and a contingent (secondary) beneficiary in your policy. For example, you can choose your spouse as a primary beneficiary and your children as contingent beneficiaries. That way, in case your spouse also dies, your children will qualify for the insurance money.
You pass through various phases in your life: marriage, divorce, a new business, the birth of your child and more. Consequently, you need to periodically update your beneficiaries to adjust for those events.
Preference Beneficiary Clause
If you haven’t nominated a beneficiary in your policy, your insurance company will disburse the life insurance money to the individuals listed in your policy. Presume that the order of priority in your policy is as follows:
Your spouse
Your children
Your parents.
If the proceeds are distributed, they will go to the first living individual which, in most cases, will be your spouse.
Survivorship Clause
According to this clause, after your death, the policy proceeds will go to the beneficiary — for example, your wife — but only if the beneficiary survives you by a stated number of days.
Misstatement of Age Clause
Your age plays an important role in determining adequate life insurance coverage. The older you are, the higher the premium that is charged. Therefore, if you lie about your real age to reduce your premiums you may pay a huge price for it. In this situation, your insurer may choose to cancel your policy entirely, increase your premiums or adjust your policy amount.
Incontestable Clause
Your insurance company is entitled — usually during the first two years of the policy — to challenge the validity of your policy on the basis that you held back material information. If you are found guilty of concealment, your insurer will void the policy and return the premiums.
For instance, if you concealed the important fact that you are a heavy drinker to get a lower premium and your insurer finds out about this deception, it will not pay the claim on your death if it occurs during the first two years of the policy.
However, after the two-year period, your insurer cannot revoke the policy and has to pay the insurance money to your family without any opposition.
Despite this clause, there are exceptions where the insurance company will not have to pay the claim. Such instances include those of deliberate fraud, where your insurer may opt to contest your policy even after the two-year period.
The incontestable clause is one of the most important clauses of your life insurance policy.
Spendthrift Clause
If you have named your gambler son as a beneficiary, there is a chance that upon your death, your son’s creditor may pounce on your life insurance proceeds. The spendthrift clause gives the insurer the right to hold back the proceeds and protect the funds from creditors. In this case, your insurer may prefer to pay the insurance money in installments to your son rather than as a lump sum.
Suicide Clause
The suicide clause in your policy specifies that the insurance company will not pay the benefit if the insured attempts to, or commits, suicide within a specified period from the beginning of the coverage. If the insured’s death is a result of suicide, an insurer will only return previously paid premiums to the family.
If you or someone you know is suffering from depression or mental health issues, get help now. You are not alone. If you or a loved one is contemplating suicide, contact the National Suicide Prevention Lifeline at 1–800–273–8255 or via live chat. It’s available 24 hours a day, seven days a week, and provides free and confidential support.
War Clause
Normally, insurance companies do not compensate for death due to war or war-related developments. As per this clause, if you are a victim of war, your insurer will not pay out the benefits to you. In its place, your insurer will reimburse the previously paid premiums to your family.
Aviation Clause
According to this clause, your insurer will not pay compensation to your surviving family due to death due to air travel or while on an airplane. However, if you are an airline employee, you can buy aviation insurance by paying higher premiums.
Free Examination Period
If you are not satisfied with the terms and conditions of the policy, you can return the policy within a specified period after receiving it and your premiums will be fully refunded. Here, the time frame will vary depending on your insurer.
Grace Period Clause
There are times when you cannot pay the premiums as a result of financial troubles. In these circumstances, the “grace period” provision works in your favor. Your insurance company will provide a grace period within which you can make the necessary monetary arrangements and pay your premiums. During this time, you will continue to be covered by your insurance policy. If you still do not pay your premiums, your policy may be canceled.
If you die within the grace period, your insurer will pay the insurance money after subtracting the unpaid premium from that money.
Reinstatement Clause
If your policy has lapsed due to non-payment of premium, you can revive it by paying all the past outstanding premiums along with interest. However, you need to prove to your insurer that you continue to enjoy good health to qualify for this provision.
What are life insurance clauses?
Clauses are sections of the insurance policy. They define the insurer’s responsibilities to the policyholder, circumstances under which claims will and maybe won’t be paid out, as well as the policyholder’s responsibilities. Sometimes called exclusions, these are designed to help the customer and the company.
Why should consumers care about clauses?
Being familiar with them will help the covered individual understand the product they are buying. Insurance policies are filled with jargon, and since the devil is in the details, understanding them will protect the consumer at critical times.
Bottom Line
If you haven’t yet taken the time to understand your insurance policy, you should do so as soon as possible. Life insurance is an asset if you know how to make the most of it, but many choose not to bother with insurance jargon and instead blindly follow their insurance advisors and this choice can have serious consequences for you and your family. Your knowledge of the insurance clauses described above can give you an upper hand when purchasing life insurance and can help you ensure that your insurance coverage works in the best interests of your family.
Credits: Eric Estevez Date: October 13, 2021 Source: https://www.usatoday.com/story/money/personalfinance/2013/09/18/life-insurance-money-matters/2827377/
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The Hidden Truths About Life Insurance
Life insurance is a safety net of sorts for the family members you leave behind, but many people don’t have it. According to the most recent national life insurance survey from Erie Insurance, 38% of people who don’t have life insurance believe it would be too expensive. However, the survey indicates that people often overestimate the cost of life insurance.
According to Erie, a 20-year, $250,000 term life insurance policy would cost approximately $200 annually for a healthy 30-year old male and about $185 for his female counterpart, but survey respondents estimated the cost to be $300-$500 a year.
Here are nine other hidden truths about life insurance you might not know.
Life Insurance Is Not Created Equal
“The three most popular types of life insurance are term, whole and universal,” said Kevin Draeger, CFP(r), life insurance product manager at COUNTRY Financial. “Term life provides protection for a specified period of time (like 10, 20 or 30 years) and is typically very affordable when you’re younger. Whole life and universal life policies provide permanent coverage as long as premiums are paid. They typically have higher premiums than term life but also build cash value that can help with things like providing emergency funds or an estate for your family later in life.”
Life Insurance Payouts Are Free of Taxes
No matter what type of life insurance you have, you generally won’t have to worry about paying taxes on a life insurance payout. “Life insurance pays tax-free, and the cash value grows tax-deferred,” said Howard Sharfman, senior managing director at NFP Insurance Solutions.
Life Insurance Is Good for Income Replacement
“Life insurance is about income replacement — it’s a way to support your family by replacing your income if you are no longer around to earn it,” said Jamie A. Bosse, CFP(r), RFC and lead financial planner with Aspyre Wealth Partners.
“It’s best to get term coverage that will last until your kids are grown up or until you are financially independent (the point where you don’t need to work anymore to support your lifestyle because you have enough assets to live on). Usually, a 20- or 30-year term policy will cover that need.” Life Insurance Payouts Are Free of Taxes
No matter what type of life insurance you have, you generally won’t have to worry about paying taxes on a life insurance payout. “Life insurance pays tax-free, and the cash value grows tax-deferred,” said Howard Sharfman, senior managing director at NFP Insurance Solutions.
Life Insurance Offered By Your Mortgage Provider May Not Pay Out
“Post-claim underwriting means the life insurance company gathers very little information upfront,” said James Heidebrecht, the owner of Policy Architects. “This is typical with mortgage life insurance products sold to you by your lender on the back end of your mortgage application. You’re only required to fill in your personal details and answer a few vague questions, and voila, your coverage is issued! But are you really protected? The short answer is no; the only thing qualified for is paying premiums. No underwriting takes place until your family makes a claim on the policy, and then the insurance company decides whether you actually qualified for the insurance or not. As you could imagine, this scenario would create a higher potential for claim denials.”
You Should Buy Life Insurance Sooner Rather Than Later
“When to buy life insurance is most often now if you don’t have any, no matter your age,” said Kelly Maxwell, CEO of Seniors Mutual. “Premiums will only increase as you get older if you haven’t started a policy already. If you are worried about all of the premiums going to waste, you can elect to get all of your premiums back at the end of the term, but this will raise the cost.”
You Can Estimate the Amount of Insurance Coverage You Need
“We refer people to the Life Happens insurance calculator, which is a good do-it-yourself tool,” Sharfman said.
Sharfman also said you could use the following formula to calculate the amount of life insurance coverage you need: 20x after-tax income + debt + future cost of education – the liquid after-tax investments you own = the amount of needed life insurance.
The Life Insurance Through Your Employer Might Not Be Enough
“Life insurance policies issued by employers are generally a great benefit but are not always enough to protect your family should you pass away,” Draeger said. “Many companies will offer one to three times an employee’s base salary, but that may not be enough to pay for final expenses, outstanding debts, your mortgage and the loss of future income for your family.
“Employer policies are also not guaranteed. If a company goes through hard financial times, the life insurance benefit could be taken away. Also, if you leave the company, you typically can’t take that benefit with you to your next job. Talking with a professional can help you to fill in the gaps that leave your family vulnerable.”
You May Be Able To Convert a Term Policy to a Permanent One
“Some term life insurance policies can be converted to permanent coverage over time,” said Paul LaPiana, CFP, head of product with MassMutual. “This protects your ability to purchase permanent life insurance later, without the need for medical underwriting, so that you are essentially insuring your insurability while being able to take advantage of the living benefits that permanent insurance provides, such as building cash value for college funding.”
Life Insurance Is Non-Contestable After the First Two Years
“Life insurance is non-contestable after being in force for two years (even for suicide),” Sharfman said. “During the first two years, the insurance company is allowed to investigate the client to make sure the application and medical information provided was reasonably accurate. As long as the client provided accurate responses to the requested information to the carrier, a claim will be paid.”
Credits to: Cynthia Measom
Date posted: January 27, 2022
Source: https://finance.yahoo.com/news/hidden-truths-life-insurance-140014455.html
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10 Things You Didn’t Know Life Insurance Could Do
Life insurance seems like a straight-forward financial product. Insurance companies receive premiums and in exchange they pay out a death benefit to policyholders’ beneficiaries. However, these plans can be much more complex than that.
“There are a lot of options — much more than people realize,” says Cliff Wilson, chair of the board of directors for Life Happens, a nonprofit that educates the public on insurance matters. Some policy perks are geared toward certain populations, such as the USAA Military Future Insurability Rider, which lets service members convert a military policy upon retirement. But other life insurance perks can be had by virtually anyone.
Here’s a look at 10 things you may not realize your life insurance policy could do.
1. Pay for long-term care expenses. Long-term care insurance is expensive, and adding a rider to a life insurance policy can be an effective way to get this coverage. Specialty products that combine life and long-term care insurance are also available. Whether the coverage comes as a rider or a specialty policy, using long-term care benefits typically reduces the amount of the death benefit.
While there is an extra cost for adding long-term care coverage to a life insurance policy, it can be more cost-effective than buying two plans. It can also be a good choice for people who want long-term care insurance, but aren’t sure if they will need it. “They are going to get coverage, but they aren’t spending money on a policy they aren’t going to use,” says Jimmy Lee, CEO of The Wealth Consulting Group in Las Vegas.
2. Provide benefits if you’re terminally ill. Known as living benefits, this perk comes standard on many term and whole life policies. “Living benefits are under-utilized and very prevalent in the industry,” says Greg Riedel, assistant vice president and product line leader of life insurance at USAA. The details vary by plan, but living benefit provisions generally allow those with a life expectancy of 12 months or less to receive a portion of their death benefit in advance.
3. A source of cash if you’re disabled. Policyholders don’t have to be dying to get their death benefit early from some insurers. Many plans offer chronic illness or critical illness riders that may pay out funds if a person becomes disabled or experiences a heart attack, stroke or invasive cancer, among other things. Wilson notes these options can provide a vital safety net to people who are unable to work and have mounting medical bills. “It’s more important to use those funds while [someone’s] alive than as a death benefit,” Wilson says.
4. Give one last gift to a favorite charity. You could leave the money in your savings account as a bequest to an organization, or you could use some of that cash to buy life insurance and give substantially more. “You can leverage your money for a bigger gift for charity,” Lee says. Depending on the policy, your age and health, you may be able to turn small monthly premiums into a large donation.
5. Ride out a bear market. One of the more novel approaches to using permanent life insurance is as a safeguard against a sagging stock market. “It’s a bucket of money to use in a bear market,” Lee says. “Instead of having to sell stocks and take a loss, take money out of life insurance.” This strategy only works with insurance policies that have cash value. Retirees can take a tax-free loan from a policy rather than withdrawing money from retirement funds. Then, when the market rebounds, gains from investments can be used to pay back the loan.
6. Minimize your taxes in retirement. Leveraging loans from a whole life policy isn’t just something for bear markets. “[Policyholders] can treat that life insurance as their own personal pension,” says Scott Moffitt, president and CEO of Summit Financial Group in Loveland, Ohio. Moffitt specializes in helping his clients work out a strategy of withdrawals and loans that will let them create an ongoing stream of tax-free money in retirement. This system can even be set up so policyholders stop making premium payments, Moffitt says.
7. Insure the life of a child. Although parents can buy an insurance policy specifically for their child, they could also add a rider on their own plan. Many insurers offer child protection riders at a low cost and with flexible coverage levels.
8. Cover a child’s college costs. Another way to use life insurance to help a child is to take out loans from a whole life policy for tuition payments. “The guaranteed loan rates [on many policies] are frankly better than the rates for a lot of student loans,” Moffitt says. What’s more, rather than paying interest to a bank or the government, that money goes back into the policy.
9. Waive your premiums. Premium waiver riders also come standard with many policies, and these provisions can help those who become disabled keep their coverage. As its name suggests, the rider eliminates premiums for those who have a qualifying injury or illness. Like living benefits, premium waivers are seldom used. “Many people don’t think about it,” Wilson says. “It’s explained at the purchase, and they don’t think of it [when needed].”
10. Return your money if you don’t die. Lastly, you might not realize your life insurance company could return all your premiums if you reach the end of a policy’s term and never make a claim. You have to pay extra for a return of premium rider, and it may make more financial sense to invest that money instead. However, some people like knowing they will get all their money back if they end up outliving their life insurance.
The bottom line for life insurance shoppers is to compare more than just the death benefit. Many plans come with valuable extras that could be worth a higher premium. “Don’t just shop for a price point,” Riedel says. Instead, he advises people to ask themselves, “What are the benefits I’m getting at that price?”
Credits: Maryalene LaPonsie
Date: May 20, 2016
Source: https://money.usnews.com/money/personal-finance/articles/2016-05-20/10-things-you-didnt-know-life-insurance-could-do
#business #areteautomation #automation #software #technology #ethos #lifeinsurance #insurance #finance #retirement
#business#areteautomation#automation#software#technology#ethos#lifeinsurance#insurance#finance#retirement
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Ways to Create an Effective Email Marketing Automation Strategy
One of the earliest and most trustworthy mobile marketing techniques is email marketing. Emails have the potential to be your most effective marketing tool if you have the right components in place. But wait, what exactly is email marketing automation?
Email marketing automation is the process of automatically distributing email campaigns based on the categories, segments, schedules, and automation workflows you define and create. It’s no longer necessary for you to manually type and send 100 emails each day — this takes a lot of time! As an alternative, you can organize and schedule a series of messages for a specific audience using automation.
Effective Email Marketing Automation Techniques can:
Increase customer engagement throughout the customer journey
Boost sales
Boost performance
Are you already giddy? Now that you’ve thought about it, you might be asking, “How can I develop a successful email marketing automation strategy?”
There are numerous approaches to doing this, but we are here to provide you with the best.
Here are steps you can take to ensure success:
1. Segment your Prospective Customers.
When attempting to automate their email marketing, this is a very common error people make. I’m able to send several messages each day, so why not put everyone on one list and send them all at once? I’ll get more responses, right? Wrong.
Instead, divide your email lists into groups or classify your clients according to the actions they’ve taken, how they found your product or service, what they bought, etc.
Keep in mind that this is not the standard “thank you for ordering” or “thanks for signing up” email. You must write and segment these emails strategically because they are marketing emails. Consider a group of your customers who have bought a specific product. You can email them and state:
This list of products that are similar to the V1000 battery is provided in the message, “Hope you are enjoying the V1000 battery.”
Establish a targeted list to enhance your segments. In all honesty, a large portion of subscribers never return to your website. You can identify your AOC (area of concentration) more precisely with a targeted list.
2. Choose a Marketing Automation Tool.
To start, you must pick a top-notch platform on which to develop your email marketing campaign and implement the most effective techniques. It must also consider the needs of your potential customers.
Be sure to choose a platform that maintains its professionalism over time and has proven to be trustworthy. If you did anything else, your emails would end up in spam, have a low conversion rate, and almost no one would open them.
3.Ensure Your Design Is Mobile-Friendly
What annoys you the most? Opening specific emails on your mobile device. Emails can be accessed on both laptops and smartphones (or desktops), but their setups differ significantly. The email must therefore be modified so that it displays properly on all devices.
A mobile-friendly email design is absolutely necessary given the rising 68% mobile open rate. Below are a few suggestions:
Provide links with enough room to click
Your emails should be brief.
Construct enticing subject lines
If you want a high-quality, sophisticated template design that enables you to quickly drag and drop content, finding the right email service provider is essential.
4. Result Analysis
We all grew up singing the rhyme, “Try, try, try again, even if you don’t succeed, just try, try, try again,” but we never really understood it. There is no assurance that your initial effort will be successful, but that doesn’t mean you should start over right away.
Split testing is what you should use on your first try. Split testing involves splitting up your contact list and experimenting with various templates. Following that, when the outcomes are available, make sure to check these crucial lead generation metrics:
View percentage
Open percentage
Clickthrough rate
Rate of conversion
5. Make your Message and Call to Action more Specific.
In 2021, there were more than 319 billion emails sent and received daily from both businesses and consumers. You must, of course, make yours distinctive. We’re not talking about the typical personalization of “Dear [First Name]” either.
The fact that you have records of who purchased what, how they registered, and other information at this point makes your segments crucial. With the help of this information, you can add to and adjust your email marketing strategy to make it work perfectly.
The best way to capture subscribers’ attention and establish a stronger relationship with them is to personalize your message. Each recipient feels less like a needle in a haystack as a result, which enhances the quality of your customer service.
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How SaaS Will Develop in the Future and What to Expect
SaaS models continue to be the most common service-based strategy as Cloud services are integrated more and more. However, SaaS is likely to experience some significant changes over time that will boost its popularity in the years to come.
Everything is in the clouds.
Yes, before the pandemic caused the global business environment to thaw, cloud integrations were booming. But 2020 gave the use of the cloud a boost unlike any other year. The demand for service-based software, or SaaS, to be precise, has skyrocketed as more and more companies move their on-premise businesses to the cloud.
Additionally, we must remember that a significant contributing factor to this
Business procedures and working conditions have changed to reflect demand.
Software as a Service, also known as SaaS, is currently well into its middle years. It hasn’t lost any of its relevance, though, according to the Gartner report. According to their most recent report, SaaS is still expected to grow by at least $138.2 billion by 2022 and continues to dominate one of the largest market segments among cloud services. SaaS is still a good choice for businesses in a precarious economic climate due to its functionalities, adaptability, and accessibility.
The integration of a high level of agility and cost-optimization for cloud-based projects is one of the key advantages of SaaS adoption. Because of the enormous advancements made in business intelligence and artificial intelligence by the IT industry, the future of SaaS appears to be bright. SaaS BI tools are expanding into previously untapped markets and streamlining business models to increase efficiency.
Businesses all over the world are looking to modern data discovery tools to increase productivity, and given the direction SaaS is taking, it is certain to prosper. According to our analysis of the development of SaaS, the following trends will become increasingly popular.
1. Utilizing AI to maximize efforts and resources
With a predicted market value of $733.7 billion by 2027, automation through AI has created some paradigm-shifting waves. Artificial intelligence (AI) is ready to enable ultra-responsiveness between businesses and customers by automating repetitive tasks and enhancing human capabilities.
In order to fully control business processes, contemporary software providers rely on AI-supported data alerts for pattern recognition and anomaly detection. SaaS’s fundamental qualities are enhanced when combined with AI capabilities. Through the use of NLP (Natural Language Processing), which analyzes speech patterns and voice control, it enables quick customization and offers enormous potential for customer service. Additionally, it enhances security parameters through rapid identification and built-in self-recovery. Additionally, by accelerating general responsiveness through quick forecasts, it improves human capabilities.
2. An individualized vertical SaaS market
While the end goal of horizontal software as a service was to serve customers, vertical software as a service explores the possibilities of serving customers through customization within particular supply chains and industries. Businesses are focusing intensely on positioning themselves as specialists rather than “jacks of all trades,” and advancements in the vertical SaaS space are enabling them to hone the customization options through sector-specific and affordable solutions.
By seamlessly integrating industry-specific compliances for better transparency, it brings in a variety of data governance procedures. Vertical SaaS’s pre-determined KPIs and metrics also offer analytics that businesses can use to access long-term projects.
3. White-Label SaaS with BI Embeddable
White labeling will gain popularity in 2021 as startups will undoubtedly find it advantageous for gaining market share with minimal financial investment. Startups will gain from not having to develop solutions from the ground up because white labeling enables an enterprise to sell a fully developed and optimized platform to another company.
On the other hand, software companies that sell white-label platforms and promote themselves as the platforms’ creators profit by generating new sources of income.
4. Micro SaaS to Open Up New Possibilities
Many industries’ markets are anticipated to become saturated in 2021; despite its impressive growth, SaaS is anticipated to thaw. Micro SaaS companies with incredibly small teams are likely to emerge as a result of the fierce competition in order to add services to an existing platform and increase the value of the SaaS product.
The miniature extension services niche market will probably cater to a very specific industry or user base and will probably run independently of outside funding.
5. Using API connectors to respond to the SaaS boom
The exponential growth in the adoption of SaaS solutions has created a gap between the abilities and requirements to handle their integration into an organization. existing organization system. Not every company wants to transfer all of its on-premise operations to the cloud, and those that do need intelligent APIs that can manage legacy systems effectively and offer security against data breaches in order to integrate SaaS solutions with their current solutions.
6. Automating Response Time with Machine Learning
With the aid of AI-powered chatbots that produced coming-of-age customer service apps and reports, machine learning (ML), a type of artificial intelligence, has enabled SaaS to be ultra-responsive and automated in onboarding. The latest iteration of machine learning is concentrated on reducing significant internal operations via innovations.
The ML-based SaaS models are likely to enhance internal communication, analyze data and insights more effectively, and teach software programs to pick up knowledge from experience to become smarter and more effective.
7. Integrated Analytics for Enhanced Digital
Transformation: Businesses anticipate data streamlining processes to further their quest for customer insights because of the enormous potential for digital transformations globally. Data analytics is progressively taking on greater significance in service-based software businesses, and data-driven decisions are becoming indispensable for businesses of the future.
Performance dashboards and other buried insights are likely to be found by centralized analytics. The SaaS models have a built-in centralized nature that allows data access from anywhere in the world, which increases the transparency of future business processes.
8. Enhancing Core Functionalities with Low-code Capabilities
SaaS models have developed into “low code” architectures that allow startups to activate their SaaS solutions with a minimum of technical know-how. The low-code architecture won’t do away with the need for developers, but it will make it easier to integrate compatible technology, freeing up the technical minds to devote their time to advancing innovation.
The Future is Promising.
Data-focused strategies are now the only thing influencing the development of SaaS-based applied business solutions.
Future-oriented and useful cloud solutions will become more prevalent as businesses incorporate business intelligence and smart data into the development of service-based solutions.
SaaS solutions are not only very practical, but they are also still reasonably priced across industries. By developing anticipated solutions supported by insightful data, the artificial intelligence plugin merely increases their invincibility.
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Top 5 Reasons to get Life Insurance in your 30s
In your 30s, a lot can happen. You might be planning a wedding, beginning a family, or searching for your first house to purchase. But have you given life insurance any thought?
In your 30s, life starts to get reasonably accurate. You might settle down, get married, start a family, own a home, and bring home the golden retriever you’ve always wanted. That is a lot. Because of this, now is a beautiful time to begin making plans for the future of your family.
Even though it could be difficult, you might need to think about what would happen to your family if something happened to you. The decisions you make today may have a profound impact on the people you care about the most.
In your 30s, consider buying life insurance for the following five reasons:
You Need to Pay Your Monthly Bills
Your life is a series of monthly bills.
Your salary is probably heavily invested in these costs, including your rent or mortgage, auto payments, utilities, credit card bills, and student loans. Despite all odds, you’ve been able to save some money for that Blink-182 reunion tour, but your finances are still tight. Another reason a life insurance policy can be a good idea is this one.
How will your family assist in paying off your mortgage or outstanding loans after you pass away? Your loved ones’ ability to pay the bills you leave behind may be aided by a life insurance policy.
You Have a Family to Support
To create their own families, many are delaying parenthood till they are older. It’s possible that your grandparents and parents were married and had children when they were in their 20s. But more people today are delaying marriage until their 30s or later. Why not, then? It’s simpler than ever to play the field and wait for that ideal match thanks to dating apps like Bumble, Hinge, and the rest.
In fact, women in their early 30s are giving birth to more children than those in their 20s for the first time ever.
Does that circumstance ring a bell for you? If so, you might want to consider what will happen to your family when you pass away. Purchasing life insurance in your 30s could provide your family with financial security in the future.
You are Financing your Kids’ Education
Whether you’re talking about a four-year college, associate degree, or vocational school these days, getting a credential is very pricey. And it won’t get any more straightforward with soaring tuition costs. Even enrolling your children in public the in-state school can be expensive: the average yearly cost after accounting for tuition, room, and board, fees, and other costs is more than $20,000.
Most people’s personal funds just won’t be enough to pay for their education. Although they are an option, student loans could leave borrowers with long-term debt.
If you are unable to provide for your children on your own, the payoff from a life insurance policy may help.
Insurance may be more affordable when you’re young.
Age is one of several variables that insurance companies take into account when determining premiums, but it is one of the most crucial. With all the health tracking apps, recreational sports leagues, and 5ks with pals, young people frequently have fewer health issues, and insurers are aware of this. That might work in your favor.
Purchasing life insurance when you’re still young may enable you to locate a plan that both suits your financial needs and your urgent demands. For those in their 30s, a term life insurance policy is frequently the best option. Compared to a whole life policy, coverage quantities are frequently higher, and costs are created to be reasonable. It’s frequently the best kind of life insurance coverage for a 30-year-old.
Your Loans were Co-signed by Your Parents
Without a perfect credit history, getting a loan to establish a business or purchase a new home is difficult. You might have asked your parents to co-sign your mortgage or other loans, like many other 30-somethings. If something were to happen to you, they would still be responsible for making those payments.
Life insurance can let you pay them back for their assistance when you most need it. Your home, business, or investment might be protected, and your debts could be produced without depleting your parents’ financial resources by using the payoff from an insurance policy.
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What Marketing Campaigns Mean and How Can Arete Automation Help?
Any company that wants to connect with its target market and accomplish its marketing objectives must invest in marketing initiatives. However, planning and managing marketing initiatives can be challenging and time-consuming. Arete Automation comes into play here.
Arete Automation is an effective marketing platform that makes it simple to design and run marketing campaigns, monitor their performance, and access many resources to assist you in achieving your goals. Businesses of all sizes may use Arete Automation to engage with their target markets and develop campaigns that motivate them to take action.
You need a marketing platform like Arete Automation if you want to engage with your target audience and accomplish your marketing objectives. This user-friendly platform makes it simple to build and manage marketing programs, monitor their effectiveness, and access a wealth of tools to support you in achieving your goals. Businesses of all sizes may use Arete Automation to engage with their target markets and develop campaigns that motivate them to take action.
How to Use Arete Automation to Create a Successful Marketing Plan
Are you trying to figure out how to make a marketing strategy that will work? If so, you might want to think about using Arete Automation. You can accomplish your marketing objectives with the effective marketing platform Arete Automation. You can quickly develop, track, and optimize your marketing initiatives using Arete Automation l. You can also readily evaluate your outcomes. Additionally, Arete Automation offers you the resources and tools to develop effective marketing campaigns. Read on to discover more about Arete Automation’s marketing strategy if you want to build a successful marketing campaign.
Let’s first examine what constitutes an effective marketing strategy.
A strong marketing strategy includes the following essential components:
1. Identify your marketing objectives — Establishing an effective marketing strategy begins with identifying your goals. What do your marketing strategies want to accomplish? Do you want to boost brand recognition, produce leads, or enhance sales? Setting concrete, quantifiable goals that will enable you to monitor and evaluate your progress is possible after you are clear on what you want to accomplish.
2. Find out who your target market is by researching them. Who are your marketing campaigns’ intended customers? What needs and wants are there among people? Why do they do it? Your ability to establish marketing initiatives that are both effective and relevant to your target market will depend on your ability to do so.
3. Choose the appropriate marketing channels — The third stage is choosing the proper ones. You can use various online and offline marketing techniques to connect with your target market. Consider your goals, target market, and budget when deciding which channels are best for your company. After that, try out a few different channels to see which ones are most effective for you.
4. Create magnetic content: The fourth phase involves creating engaging content. Your content should be relevant to and valuable to your target audience. Your material should also be well-written and interesting to attract readers and encourage them to take action.
5. Promote your content — Promoting your material is the fifth step. Once you’ve produced excellent content, you need to expose it to your intended audience. Your website, social networking platforms, email marketing, and other internet channels can be a medium to promote your content.
6. Assess your outcomes — The last step is to assess your results. It will allow you to evaluate your marketing initiatives’ success and recommend improvements. Monitor your website’s traffic, leads, and sales to gauge your success. Additionally, get client feedback to determine what your campaigns worked and didn’t.
You can design an effective marketing strategy that will assist you in reaching your business objectives by using the methods listed below.
How to Use Arete Automation to Reach Your Target Audience
Let’s look at how Arete Automation can assist you in connecting with your target audience now that you know the components of a successful marketing strategy. As we’ve already mentioned, Arete Automation is a powerful marketing platform that gives you the materials and tools you need to build effective marketing campaigns. You can quickly develop, track, and optimize your marketing initiatives using Arete Automation. You can also readily evaluate your outcomes. Additionally, Arete Automation enables you to segment your audience for more precise targeting.
Making customized and targeted content is one of the finest strategies to engage your target audience. Arete Automation allows you to divide your audience into various categories, enabling you to accomplish this. By doing this, you may produce material that appeals to each demographic and distribute it via their preferred channels. Arete Automation further gives you solid tools for managing and developing your content. These tools make it simple to produce high-quality content that interests and converts your target market.
Email marketing is a fantastic method of reaching your target market. Arete Automation gives you the tools to design stunning and successful email campaigns to find and engage your target audience. Additionally, you can customize your email campaigns with the Arete Automation segmentation function so that each recipient sees pertinent communications. Your email marketing will be more successful and have a greater conversion rate.
To sum up, Arete Automation is a powerful marketing platform that may assist you in connecting with your target market and achieving your professional objectives. You can quickly generate targeted and tailored content using Arete Automation, monitor your results and improve the effectiveness of your campaigns. Check out Arete Automation immediately if you’re seeking a strategy to advance your marketing.
Arete Automation Alternative
Many companies are switching from these platforms to Arete Automation due to the low cost and simplicity when comparing Arete Automation to Hubspot, ActiveCampaign, and Clickfunnels. A wise substitution for these other platforms is Arete Automation.
The Verdict
According to our Arete Automation review, Arete Automation is the only option if you search for an all-in-one platform to manage your sales and marketing initiatives. As we share our Arete Automation review, we want to emphasize that the system offers all the tools required to get going, including email marketing, lead management, and set up Arete Automation assistance. Do keep in mind that it can be a little intimidating at first. Due to its extensive functionality, there is a steep learning curve. But we have overcome that learning curve and are ready to assist!
To find out more about how we can assist you in creating a profitable online presence for your company, get in touch with us immediately. You may use our platform to generate more leads and sales with the assistance of our experts to set up your account and get going.
Here at ARETE AUTOMATION, you can reach out to more people and grow your network without having to do too much.
SIGN UP TODAY! www.areteautomation.com
#areteautomation #digitalmarketing #marketingautomation
#leadconnector #smallbusiness
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