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September 16, 2024

What is Life Insurance for diabetics? Life insurance for diabetics is an insurance policy designed to meet the needs of those living with diabetes.

Although securing coverage can be more challenging due to health risks, many companies offer policies designed to suit these individuals. The cost of insurance typically depends on several factors, such as the type of diabetes, management of the condition, age, lifestyle, and overall health.

In most cases, diabetics can still find life insurance at competitive rates. However, policies and coverage options vary across providers. Factors like the type of diabetes, the policy you’re interested in, how long you’ve had the condition, and how well it’s managed will all influence your options and pricing.

Why Is Timing So Important When It Comes To Diabetic Life Insurance?

When it comes to diabetic life insurance, timing plays an important role in determining the policies and rates available to you. The stage at which you apply can significantly affect your options and premiums. Below are a few key examples of how the timing of your application can impact your life insurance coverage as someone living with diabetes:

Obtain Life Insurance Before You Develop Diabetes

Your premiums will usually be lower if you get life insurance before being diagnosed with diabetes, compared to applying after. However, when applying, never hide your diabetes diagnosis from the provider. If you do, it could be considered fraud, leading to policy cancellation without a refund.

Wait For Gestational Diabetes To Go Away

If you’re considering life insurance but have gestational diabetes during pregnancy, waiting to apply could give you more options at a lower cost. Gestational diabetes is often temporary, and once it goes away, your premiums may be more affordable. All you just need is to be in good health.

Wait Till Your Diabetes Is Under Control

Life insurance premiums for diabetics are usually higher. But you can get lower rates by showing good health and effective diabetes management.

For instance, if your blood glucose and A1C levels have been stable and within your doctor’s recommended range for a year, the results of your medical exam may be viewed more favorably.

This could lead to better coverage options and lower costs compared to applying when your condition was less stable.

Can I Get Life Insurance With Type 1 Or Type 2 Diabetes?

If you have Type 2 diabetes, you can usually get ordinary life insurance, but if you have Type 1 diabetes, it can be more challenging.

People with Type 1 diabetes are not eligible for life insurance from some carriers since the condition is regarded as more risky and harder to control.

Overall, type 2 is thought to be less dangerous and simpler to control with proper nutrition, exercise, restful sleep, and stress management.

Your life insurance premiums will probably be greater than those of someone with Type 2 diabetes if you are eligible with Type 1.

What Types Of Life Insurance Can A Diabetic Get?

To get the best life insurance policy for you, compare quotes. Your eligibility for a certain form of life insurance will depend on the insurer and your health.

If you’re in reasonably good health and your diabetes is under control, you might be eligible for a standard policy. If not, diabetics may want to consider some unconventional life insurance plans.

Term Life Insurance

Term insurance is only active for a predetermined amount of time, in contrast to permanent insurance. This however lasts for a person’s entire life provided payments are made. This policies usually have a duration of 10 to 30 years. This is usually one of the less expensive ways to obtain life insurance because you could outlast the policy term.

Whole Life Insurance

A kind of permanent life insurance, whole life policies have a cash value component that increases in value over time in addition to a death benefit.

Since these are meant to provide a death benefit payment as long as the policy’s terms are fulfilled. They are usually more costly than term life insurance.

Universal Life Insurance

This type of permanent life insurance offers both a death benefit and a cash value component. It’s one of the most flexible life insurance policies, allowing the insured to adjust the death benefit or use the cash value to pay premiums.

There are three types of universal life insurance: indexed universal, variable universal, and guaranteed universal, each using a different investment approach to grow cash value.

However, the primary distinction between diabetics and non-diabetics looking for life insurance is the cost and coverage limitations.

Frequently Asked Questions

Do I Have To Disclose My Insurance Company That I Have Diabetes?

When purchasing a policy, it is important that you completely disclose all of your medical issues. This includes diabetes, even if they do not ask. Failure to do so could result in a claim being rejected, at which point it is too late.

What Benefits Can You Claim If You Have Diabetes?

Some diabetics may be able to receive benefits for themselves or someone they support. This covers the Disability Living Allowance for children and the Personal Independence Payment for adults.

Is Life Insurance For Type 1 Diabetes More Expensive?

In most cases, yes! Individuals with Type 1 diabetes have a greater likelihood of passing away, increasing the possibility that an insurer will pay out the death benefit while the policy is active. To account for the increased risk, insurers often charge higher premiums to those with Type 1 diabetes.

Can You Fund Your Wedding With A Personal Loan?

LOANS

francisca

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September 16, 2024

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Can You Fund Your Wedding With A Personal Loan? Yes, a personal loan can be used to fund a wedding, whether it’s to cover the entire event or specific expenses like the venue or honeymoon.

Personal loans often come with lower interest rates and a fixed repayment plan, making them potentially less expensive than using credit cards.

However, it’s important to consider alternatives, such as savings accounts or credit cards with low APR offers.

While some couples opt for a personal loan to manage wedding costs, which is repaid over time, this approach has both advantages and drawbacks.

What Can A Wedding Loan Be Used For?

A wedding loan is a type of personal loan that you can use to fund your wedding expenses. You can obtain it from a bank, credit union, or online lender.

Personal loans are versatile and can be used for almost any purpose, making them a practical option for financing your wedding.

According to wedding website Zola, many couples do not cover the entire cost of their wedding with their own funds.

Instead, they often combine personal savings with options like credit cards, gift registries, or personal loans. A personal loan can help manage various wedding-related expenses, including;

Wedding dress: $1,900
Wedding reception/venue costs $11,200.
Engagement and wedding rings cost $5,800.
Live band costs $3,900.
Photographer, $2,600.
Florist ($2,400).
Catering ($75/person).
Wedding planner ($1,900).

How Much Can You Borrow With a Wedding Loan?

The maximum amount you can borrow for a personal loan is determined by several criteria, including the lender’s guidelines and your credit score and income.

Most lenders will consider loans as small as $1,000, and many will not lend more than $50,000 in typical conditions. A few lenders may offer loans up to $100,000. 4

In general, you should obtain the lowest loan that matches your needs because personal loans of any amount incur interest and are added to your debt.

You will pay interest on the loan when you repay it, so a larger loan will cost more in the long run.

How To Qualify For A Wedding Loan

To qualify for any type of personal loan, including one for a wedding, you will need to meet the following requirements:

Lenders use numerous factors to qualify borrowers for personal loans. A higher credit score often means lower loan rates. A credit score of 640 or higher will often get you approved for the best interest rates.

To ensure that you can repay the loan, some lenders will want you to submit proof of employment and income.

To apply for a personal loan, you must be at least 18 years old.

Pros And Cons Of Wedding Loans

Pros

Convenience: With a personal loan, you receive the funds in one lump sum, allowing you to pay the vendors ahead. Personal loans are frequently funded within a few business days. In some situations, you may receive your money the same day you apply.

Flexible: You can utilize the loan to cover practically any wedding-related expense. There are no restrictions on how you utilize the funds, whether for a venue, flowers, or any other purpose.

Low Interest Rate and Fees: Personal loans, particularly when compared to credit cards, typically provide substantially lower interest rates, saving you money in the long run. They usually don’t charge for early repayment.

Cons

Interest: Although personal loans can save you more money than a credit card, they are more expensive than paying in cash due to interest. Even with low interest, they might add significantly to your total cost. For example, if you take out a five-year $15,000 loan at a 10% interest rate, you’ll pay more than $4,000 in interest.

Debt: A personal loan will increase your total debt, which may harm your credit score. It can also have an impact on your debt-to-income (DTI) ratio, lowering your chances of approval for other loans such as a mortgage or a vehicle loan.

Temptation to Spend: If you have a large lot of money, you might get compelled to make use of it all when you don’t have to. Note that the money is a loan, not cash.

Frequently Asked Questions

How Much Can You Borrow On A Personal Loan?

Personal loan limits vary by lender, with some offering amounts up to $100,000. The amount you’re approved to borrow depends on several factors, including your credit score, income, and debt-to-income ratio.

Can You Get A Wedding Loan With Bad Credit?

If you have weak or poor credit, you will be unable to obtain a personal loan unless you apply with a cosigner. However, some lenders on our list provide wedding loans to clients with credit scores as low as 580.

What Is The Greatest Method Of Paying For A Wedding?

The best method to pay for a wedding is with cash. This will help you avoid carrying debt after your wedding.

If it matches your financial circumstances and monthly budget, a wedding loan can be a useful choice if you don’t have enough cash on hand.

Can I Purchase Life Insurance Without Taking a Medical Exam

INSURANCE

Ejeta Benjamin

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September 16, 2024

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Can I Purchase Life Insurance Without Taking a Medical Exam – Life insurance is an important part of financing planning, especially since it offers peace of mind to the policyholder and their beneficiaries in the event of unfortunate death. Getting a life insurance policy traditionally involves undergoing a comprehensive medical exam to evaluate the risk profile and health of an individual.

However, over the years, insurance companies have been introducing what is called no-medical exam life insurance quotes. This makes people wonder: Can I purchase life insurance without taking a medical exam? In this article, we will delve into what this form of coverage entails, its cost, and other important details you would love to know.

What is No-Medical Exam Life Insurance?

No medical exam Life insurance is a form of life insurance that enables people to get coverage without being subjected to a medical examination. Unlike the traditional process where individuals will undergo a series of health-related evaluations and tests and answer health-related questions during their application, a no-medical exam life insurance simplifies the application process and accelerates the coverage approval.

Can I Purchase Life Insurance Without Taking a Medical Exam?

Yes, you can purchase life insurance without taking a medical examination test. The primary goal of this type of insurance is convenience. For instance, if an applicant is concerned about their health or has a busy schedule, avoiding medical exams is common. But with a no-medical exam life insurance policy, you can expedite and ease up the process to get coverage.

Although this type of insurance offers accessible options, they might come with limitations. Unlike traditional policies, no medical exam life insurance has lower coverage amounts.

What is the Importance of Medical Examination?

In the application process of a traditional life insurance policy, the medical exam plays an important role. Different evaluations and tests are required to get an extensive picture of the applicant’s health status. Here are a few reasons why medical examination is important:

Coverage determination.
Risk assessment.
Long-term benefits.
Personalized underwriting process.
Fraud prevention.

Thus, medical exams are carried out to confirm the accuracy of the health application of an applicant during the application process.

How Much Does No-Exam Life Insurance Cost?

Several factors affect the cost of no-medical exam life insurance policies, making them vary. Generally, traditional life insurance quotes are cheaper than no-medical exam life insurance quotes because of the high risk for insurance providers.

These factors include:

Applicant age.
Policy type.
Health status.
Coverage amount.

Since insurance companies are not able to evaluate the applicant’s health fully, no-medical-exam policies usually come with higher premium amounts.

How to Purchase Life Insurance Without Medical Exam

The process of buying a life insurance policy without a medical exam is straightforward. However, the application procedure might differ depending on the insurance company. Here is a general guide you can follow:

Research Insurance Companies

Start by searching for insurance companies or insurers that provide no-medical exam life insurance policies. It is also important that you compare their coverage limits, policy types, and premium amounts.

Gather Policies

Request quotes from different insurance companies and compare their coverage options and costs. Besides, most insurance providers provide online tools to give instant quotes based on the information of the applicant.

Begin the application.

Once you have succeeded in finding a good insurer with a good policy, fill out the application form and answer the health-related questions. It is crucial that you are transparent in your answers to prevent issues later in the future.

Submit the necessary documentation.

During the application process, the insurance provider will ask you to provide some documentation, like proof of income and identification.

Review Before Signing

Yes, it is important that you review and carefully go through the terms and conditions of the policy before signing. Understand the exclusions, coverage limits, and premiums.

Make Premium Payment

After signing and it gets approved, you will have to make the initial premium to activate the insurance quote. Based on the schedule mentioned in the policy, that is, future premiums will be made.

Frequently Asked Questions

Can I get a no-medical exam policy if I have a pre-existing condition?

Yes, an individual can get a no-medical exam policy even with a pre-existing condition, especially with a guaranteed policy. However, keep in mind that the premium amount of such a policy is higher and its coverage amounts will be lower.

Is no medical exam life insurance a good option for everyone?

For individuals who are experiencing difficulties getting traditional coverage because of health issues, no-medical exam life insurance is a suitable option, especially if you are looking for quick coverage as well. However, this form of insurance is not a good choice for people with good health and can qualify for a traditional policy. This means that no-medical exam life insurance is not a good option for everyone.

How quickly can I get coverage with a no-medical exam policy?

One of the benefits of a no-medical exam life insurance policy is the expediency of the application process. Meanwhile, coverage can be obtained within a few days to some weeks. Unlike traditional policies with longer processing periods.

Are there any exclusions in no-medical exam life insurance policies?

Certainly, similarly to traditional policies, no-medical exam quotes might come with exclusions. Some of them include conditions not mentioned in the application and death caused by specific conditions or activities.

Best HELOC Rates – Current Rates 2024

LOANS

archie

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September 14, 2024

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What are the Best HELOC Rates a borrower can get? A Home Equity Line of Credit (HELOC) is one of the most popular borrowing options among homeowners looking to tap into the equity they’ve built in their property. They have varying features from a traditional loan lender where they allow homeowners to borrow as needed, repay, and then borrow again. HELOC works like a revolving line of credit, similar to a credit card.

Moreover, with HELOC rates fluctuate based on market conditions and borrower qualifications, finding the best rates can save you thousands of dollars over the life of the line of credit.

What is a HELOC?

A HELOC is simply a secured loan that allows homeowners to borrow against their home’s equity. Also, it offers flexibility to borrowers as it allows them to draw from the credit line as needed. Furthermore, they only get to pay interest on the amount used. Some of the features of a HELOC include:

Draw period: It is typically 5-10 years, during which you can borrow and repay funds.

Repayment period: It is often 10-20 years, during which you pay off the outstanding balance.

Interest rates: HELOC rates are generally variable, which means they fluctuate with the market, although some lenders offer fixed rates.

Current HELOC Rates As Of 2024

HELOC rates can vary based on the borrower’s creditworthiness, the lender, and the home loan-to-value ratio (LTV). Here are some of the average rates available:

National Average HELOC Rate: 8.15% APR

Best Rates for Excellent Credit (740+ FICO score): 7.00% – 8.00% APR

Rates for Good Credit (680-739 FICO score): 8.25% – 9.00% APR

Rates for Fair Credit (620-679 FICO score): 9.25% – 10.50% APR

However, you should note that these rates are based on 80% loan-to-value (LTV). This means that the total borrowing amount, including your primary mortgage and HELOC, does not exceed 80% of your home’s value. Typically, lenders may offer lower or higher rates depending on your specific financial situation.

Factors That Influence HELOC Rates

Several factors influence the HELOC rates you may be offered by lenders. Understanding these factors can help you qualify for a better rate and make informed borrowing decisions. Many of these factors include:

Credit Score

Your credit score is one of the most significant determinants of your HELOC rate. Borrowers with excellent credit scores (740 and above) typically receive the most favorable interest rates. However, if your credit score is lower, you are more likely to deal with higher rates or stricter terms.

Loan-to-Value Ratio (LTV)

Another influencing factor is the Loan-to-Value Ratio. Lenders will calculate your loan-to-value ratio by dividing your outstanding mortgage balance and the desired HELOC amount by the value of your home. If your LTV is low, it means you have substantial equity in your home. Thus, you are more likely to qualify for a lower interest rate.

Prime Rate

Many HELOCs are tied to the prime rate, which is mainly the interest rate that commercial banks charge their most creditworthy customers. The prime rate is influenced by the Federal Reserve’s federal funds rate. So if the Federal Reserve raises the rates, the prime rate and HELOC rates as well, will increase.

Interest Rate Type

There are variable interest rates on most HELOCs. Eventually, this means the rate can change drastically depending on market conditions. However, some lenders do offer a fixed-rate option, which allows you to lock in a specific rate.

Lender Terms

Each lender has its own rates and terms based on its risk assessment criteria. While some lenders offer discounts for automatic payments, others may require you to open a checking or savings account to qualify for the lowest rate.

These are some of the determining factors that influence the best HELOC rates you may get from lenders.

Best HELOC Lenders in 2024

Here are some of the top lenders offering competitive HELOC rates in 2024:

Bank of America

The Bank of America has its rates starting at 6.85% APR. They also offer discounted rates with automatic payments and a Bank of America checking account. Also, their loan Amount ranges from $25,000 – $1,000,000.

Wells Fargo

Well Fargo is another reliable lender that can offer you the best HELOC rates. With their rate starting at 7.15% APR, they also offer a No closing costs for most customers and a simple online application process. Furthermore, their loan amount starts $25,000 to about $500,000.

U.S. Bank

The U.S Bank has its HELOC rate starting at 7.25% APR and their loan amount ranging from $15,000 to $750,000. Also, they offer special discounts for existing customers and a low introductory rate for the first year.

Citibank

Citibank is another great HELOC lender with their rate starting at 7.00% APR and their loan amount ranging from $25,000 to about $1,000,000. Additionally, they offer fixed-rate conversion options and large loan limits for high-equity borrowers.

PNC Bank

Another trustworthy lender is PNC Bank with their rate starting at 7.50% APR. They also have a key feature of having No annual fee and flexible payment options during the draw period. Moreover, their loan amount ranges from $10,000 to $500,000.

These are some of the best money lenders that can offer you the best HELOC rates you can find in the market.

Pros Of HELOC Rates

Here are some of the pros you get with the best HELOC rates:

Flexible borrowing: You can conveniently borrow and repay as needed during the draw period.
Lower interest rates: HELOC rates are generally lower than credit cards and personal loans.
Tax-deductible interest: The interest you will pay on a HELOC may be tax-deductible. This is only if the funds are used for home improvement.

Cons Associated With These Rates

Here are some drawbacks that you may face when dealing with HELOC rates:

Variable interest rates: Your monthly payments may increase if the prime rate rises.
Foreclosure Risk: Since you use your home to secure the HELOC, failure to repay could result in foreclosure. You stand the chance of losing your home.
Fees: Some of these HELOCs come with annual fees, closing costs, and other charges that can add to the cost of borrowing.

These are some risk factors that you must also consider before you go ahead with the decision to get a HELOC.

How to Get the Best HELOC Rates

To secure the best HELOC rates, here are considerable steps you can take:

Improve Your Credit Score: Start by paying off your debts and avoiding late payments. Also, you should reduce your credit card balances to boost your credit score before applying for a HELOC.
Compare Lenders: Also, you should shop around for the best rates and terms. Don’t just focus on the interest rate alone. You must also consider their fees, closing costs, and the lender’s reputation.
Opt for Automatic Payments: Many lenders will offer discounts if you set up automatic payments from a checking or savings account. So, you should try opting for that option.
Negotiate with Lenders: If you have good credit and substantial home equity, you may be able to negotiate a lower rate or better terms with lenders.
Select a Shorter Repayment Term: You might want to go for a shorter repayment term with your lender. Having shorter terms typically comes with lower interest rates, but you must be prepared to make higher monthly payments.

Frequently Asked Questions

Here are some frequently asked questions you can check out:

What is the average HELOC rate in 2024?

As of 2024, the average HELOC rate is approximately 8.15% APR. However, rates can vary depending on creditworthiness, lender, and loan-to-value ratio.

Can I deduct the interest on a HELOC from my taxes?

Yes, you can. However, you can only do so if the HELOC is used to “buy, build, or substantially improve” the property securing the line of credit. Also, you might want to consult a tax professional for specific advice.

What credit score do I need for a good HELOC rate?

A credit score of 740 or higher will typically qualify you for the best HELOC rates. Scores in the 680-739 range may still qualify for competitive rates but might not be the lowest available.

Is Travel Insurance Worth It?

INSURANCE

francisca

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September 13, 2024

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Is travel insurance worth it? Getting travel insurance is a smart choice if you travel often or plan to take a vacation. It provides financial protection during your trip and helps you manage unexpected expenses.

This type of insurance can cover costs like canceled trips, hotel bills, medical expenses, lost luggage, and even meals. While it sounds beneficial, you might still wonder—is travel insurance really worth it?

With travel insurance, you don’t have to stress over extra costs like hotel bills, flight delays, or even non-refundable payments.

It also helps reduce unexpected expenses that can impact your budget. However, whether or not travel insurance is right for you depends on a few factors.

Before purchasing a plan, it’s important to think about whether travel insurance is necessary for you and your family. This guide will provide all the details you need to decide if it’s the right fit for your next trip.

When Should I Buy Travel Insurance

To decide if travel insurance is worth getting, it’s important to know when it’s most useful. There are certain situations where having travel insurance for you and your family is a good idea. Travel insurance is worth it when:

You travel internationally.
You’re going to a place prone to hurricanes.
You want partial reimbursement if your trip is canceled or cut short.
The non-refundable costs of your trip are higher than your budget.
You’re traveling to a remote area with limited healthcare access.
Your trip involves flight connections or multiple destinations.

Based on these situations, buying travel insurance can be a smart choice. However, it’s important to understand what the insurance covers, how much it costs, and what works best for you. This helps ensure you choose the right coverage.

When Is Travel Insurance Not Worth It?

Generally, if you are not giving a large amount for non-refundable trip expenses or if your United States Health Plan covers your trip, travel insurance is not worth it.

Other cases where travel insurance is not worth it are if you are going on a business trip, a less costly tour component, your travel is already insured, and a less costly domestic travel.

Also, it is not worth getting travel insurance for cases when the trip is taken with points or miles, or if you already have homeowners or renters insurance that offers baggage insurance coverage.

If you fall under any of these cases, you do not need to get travel insurance.

What Is Not Covered?

While travel insurance covers a variety of travel-related expenses, there are some expenses it does not cover.

Losses caused due to negligence will not be covered by this insurance company. This is because travel insurance is designed to cover unexpected expenses. Travel insurance will not cover any of the following cases:

Mental health care.
Physical therapy.
Routine pregnancy.
Elective processes.
Adventure or extreme activity participation.
Routine dental and physical exams.

Aside from these, travel insurance will also not cover funds you lose during a hurricane, except if your travel insurance covers hurricane damages or if you purchased this coverage before the storm occurred.

Where Can I Purchase This Type Of Insurance?

You can get travel insurance from various companies, either online or in person. You can also work with a travel insurance agent who can help you choose the best policy from a reliable provider.

While some tour operators offer travel insurance, it’s often better to purchase it yourself. With just a few details like your travel cost, age, travel dates, and destination, you can easily buy travel insurance online.

How Much Is Travel Insurance?

Travel insurance typically costs between 5% and 6% of your total trip expenses. For example, the average cost for a $5,000 trip is around $228, with rates ranging from $154 to $437 for policies offering competitive coverage.

Like other types of insurance, the cost is based on factors such as trip cost, age, and gender. Among these, age is the most significant factor in determining your travel insurance cost.

Best Burial Insurance Companies Of 2024

INSURANCE

francisca

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September 12, 2024

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What are the burial insurance companies of 2024? Covering medical bills, burial costs, and other expenses after death can be financially challenging.

Burial insurance, also known as final expense or funeral insurance, is designed to alleviate these costs by providing funds specifically for burial and related expenses.

As you plan for the future, finding the best burial insurance company for 2024 can help ensure you get the coverage you need at an affordable rate.

In this guide, we’ll highlight the top burial insurance companies of the year, comparing their rates, quotes, and terms to help you make an informed decision.

Best Burial Insurance Company of 2024

There are different burial insurance companies you can purchase insurance from in 2024. In this section, we’ll explore some of the best burial insurance companies of 2024. They include:

AARP

If you are looking for a burial insurance company with competitive costs, AARP, also referred to as New Your Life, is the best for you.

This insurance company has a low level of complaints concerning its insurance policies from its customers. Aside from these, AARP allows policyholders to get insurance quotes easily online.

State Farm

State Farm Life insurance has an affordable burial insurance cost best for policyholders looking to get insurance coverage that fits into their budget.

Instead of visiting this insurance company in person, customers can easily access and purchase burial insurance quotes online. Unfortunately, this insurance company’s insurance policies are not available to every state.

American Family Life Insurance

Unlike other insurance companies, this burial insurance company offers a wide range of insurance options for policyholders.

These options include property insurance, vehicle insurance, business insurance, and so on, including burial insurance. You can purchase multiple life insurance policies from this insurance company.

ETHOS

ETHOS is yet another burial insurance company that offers coverage for burial expenses immediately after the first premium is paid.

In cases where you need quick insurance coverage, this insurance company is a good option to consider. However, after age 100, policyholders will no longer pay for insurance premiums instead; the policy will remain in place.

Mutual Of Omaha

This insurance company allows customers to purchase burial insurance at a young age for a cheaper price.

For as little as $2,000, younger customers can get burial insurance, which makes it one of the best to consider.

People who only need short-term life insurance coverage can easily purchase insurance from this insurance company.

Fidelity Life

If you are older, you have a severe health condition, or in cases where you were not approved for insurance before now, this insurance company could be best for you.

Fidelity Life offers different no-exam insurance coverage options to customers. These coverage options include burial expenses, whole life, and accidental death benefits insurance policies.

Lemonade

Lemonade offers life insurance policies through its technologies, which makes the insurance process better and easier.

Policyholders can easily purchase life insurance, including burial insurance, from their insurance options online instead of in person. No medical exam is required from customers by this insurance company.

In summary, the best burial insurance companies of 2024 offer various benefits, from affordable rates with AARP and State Farm to immediate coverage with ETHOS. Choose based on your needs and preferences for peace of mind.

Frequently Asked Questions

What Is Burial Insurance?

Burial insurance is a whole life insurance policy that has a little death benefit. This death benefit is for the payment of funeral expenses and related costs. Funeral expenses are the only reason why many older policyholders purchase a burial life insurance policy.

What Does Burial Insurance Cover?

Burial insurance covers every expense of death after the early years of the insurance policy. If a policyholder dies of an illness after the first two years of purchasing the policy, only 10% interest paid on premiums would be offered to the policyholder’s beneficiaries.

What Is The Death Benefit?

Death benefits are the amounts of money paid by a burial insurance company to the beneficiaries of a diseased policyholder. This benefit is used by the beneficiaries to cover burial expenses.

Burial Insurance Alternatives

If getting a burial insurance policy is not looking good enough, you can go for its alternatives. Life insurance policies like traditional whole life insurance, universal life, term life insurance, and final expense life insurance. These alternatives also offer financial protection towards burial expenses.

Cheapest Life Insurance Companies Of 2024

INSURANCE

francisca

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September 12, 2024

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Cheapest Life Insurance Companies Of 2024

Searching for the cheapest life insurance companies? Don’t worry, we’ve got you covered. In 2024, plenty of companies will offer affordable plans with solid coverage. We’ve compiled a list of seven companies that provide competitive rates and reliable coverage.

When creating this list, we considered factors like financial strength, customer satisfaction, and coverage options, giving you a clear view of the best budget-friendly choices available today.

Each of these companies has been carefully selected to ensure they meet the needs of individuals looking for affordable life insurance without sacrificing quality.

Whether you’re seeking term life, whole life, or universal life policies. These insurers offer a range of options that cater to various financial situations and coverage requirements.

Read on to explore which provider could be the best fit for your needs and how they stack up in terms of cost, flexibility, and customer service.

Cheapest Life Insurance Companies Of 2024

Without further ado, we’ll explore some of the cheapest life insurance companies you can use in 2024 in this section. So, here are some insurance companies offering pocket-friendly life insurance plans you can consider.

Symetra

Symetra, one of the best you could consider, offers the lowest term life insurance rate and an excellent complaint record over the past three years. And its rate was the third lowest with SwiftTerm, which offers the most affordable life insurance. Which makes it a great choice for those seeking a budget-friendly term life insurance option.

It offers instant life insurance; a no-exam life insurance option is available for some applicants; and it is the cheapest life insurance in our rating. However, its financial strength lacks a long track record; you must speak with an agent before completing an online application, and a not so good historical performance.

Nationwide

Nationwide comes in second, offering a wide range of insurance products for families and individuals, which include policies for your pets, cars, and home. This makes a great option for those looking for the best car insurance, and it’ll be a perfect one for new drivers looking for the best car insurance.

This mutual insurance company operates in 46 states and provides usage-based insurance and a pay-mile option that helps customers save. However, its financial strength is quite average, and its term rates were $18 higher.

Penn Mutual

Penn Mutual stands out for its inexpensive pricing for a wide range of term durations and coverage quantities. We were particularly impressed by its cheap costs for older clients seeking 30-year terms.

Penn Mutual Life Insurance offers cheap life insurance rates, a very low level of customer complaints to the state insurance department, and qualified applicants may not undergo a life insurance medical exam. However, you’ll have to pay a much less competitive price for a convertible term policy if you want to convert, and there’s no accelerated death benefit available.

Cheapest Life Insurance Companies – Pacific Life

Pacific Life offers a significantly lower minimum face value amount than the competitors we evaluated. Our research shows Pacific Life offers competitive premiums and excellent coverage features.

It offers competitive rates, universal life policy options, and is renewable until age 95. However, you can only convert it to a universal life insurance policy. You’d also need to purchase a life insurance policy through an agent; and lastly, it has average financial strength.

Protective

Protective Life stands out for its low-cost options and innovative services, such as the rare 40-year term insurance. This long-term duration is a unique feature in the life insurance sector, providing long-term security at low rates, which is especially appealing to younger people planning for the future.

It offers term life insurance policies ranging from 10 to 40 years, allowing coverage customization to match long-term financial needs, high coverage limits, extending up to $50 million, providing great security for beneficiaries, and allowing the conversion of term plans to permanent coverage without an additional medical test, ensuring future insurability.

However, most policies require an initial medical exam, which may not be appropriate for people who have pre-existing diseases and want no-exam coverage, and limited customer service hours may not meet all scheduling demands.

Legal&General

Legal & General offers life insurance periods of up to 40 years, which is one of the longest term lengths available among the life insurance providers we reviewed. Legal & General term life insurance provides coverage for up to 40 years.

This implies you can keep your life insurance rates down for a longer period of time. Legal & General also offers incredibly competitive prices, making it an affordable option.

However, this policy is not renewed once the level term period expires, and the maximum accelerated death benefit possible is $500,000, or 75% of your death benefits, whichever is lower.

In conclusion, finding affordable life insurance doesn’t mean you have to compromise on quality or coverage. The companies listed offer a variety of plans to suit different needs. And it ranges from basic term life policies to more comprehensive options like universal life.

Whether you’re looking for the lowest rates, flexible coverage periods, or reliable customer service. These insurers provide excellent choices for 2024.

By carefully considering factors such as financial strength, customer satisfaction, and policy flexibility. You can make an informed decision that protects both your budget and your loved ones.

Frequently Asked Questions

What Is The Lowest Amount Of Life Insurance?

The least-term life insurance policy you may buy is normally $100,000. While some providers sell policies for as little as $25,000 or $50,000.

What Is The Cheapest Age To Buy Life Insurance?

Young people often pay the lowest life insurance rates, while older ones pay the highest. A 30-year-old typically receives a lower premium than a 40-year-old, with some health-based exceptions.

What Is The Cheapest Way To Get Life Insurance?

Term life insurance is generally less expensive than permanent life insurance because it does not accumulate cash value. Nevertheless, premiums might rise each year depending on the type of term policy purchased. Term length: Longer-term life insurance policies cost more.

Physical Therapist Jobs in USA with Visa Sponsorship

JOBS

Ejeta Benjamin

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September 12, 2024

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Physical Therapist Jobs in USA with Visa Sponsorship – Are you a foreigner or international student in need of a physical therapist job in the USA? Then, you have stumbled on the best piece of writing today! Fortunately, the United States offers several job opportunities to individuals who seek to pursue a career in physical therapy. Due to the rapid demand for healthcare services, several companies and healthcare facilities are on the lookout for experienced and skilled physical therapists. As an added benefit, most companies offer a physical therapist job alongside visa sponsorship.

That being said, there are hospitals, clinics, and private practices that are actively recruiting qualified physical therapists from different parts of the world. So, if you share a motive of working in the United States as a physical therapist, now is the time to start searching for job openings and sending in your applications to the available ones.

We aim to enlighten our readers on physical therapist jobs in the USA with visa sponsorship. Highlighting in detail the duties and requirements needed for the job, including other tips that would help you navigate the job application process.

Who Is A Physical Therapist?

A physical therapist is a qualified healthcare provider who specializes in treating patients with ailments or injuries that impair their ability to move or perform physical activities. They assist patients with improving their movement, regaining function, and managing discomfort.

Essentially, physical therapists play a significant role in patients’s treatment, rehabilitation, and preventive care when they have injuries, diseases, or chronic illnesses.

Duties of a Physical Therapist

Generally, physical therapists help in improving the physical function and quality of life of patients. They are saddled with performing the following duties:

Consulting with patients
Performing assessments
Diagnosing and developing treatment plans
Providing hand-on therapy techniques to patients.
Providing stimulation and massage.
Assisting with equipment such as wheelchairs or walkers
Monitoring and keeping record of patient progress
Modifying treatment plans.
Collaborating with other healthcare providers
Adhering to all healthcare regulations.

These are the responsibilities a physical therapist is expected to perform in a healthcare facility, be it a hospital or clinic.

Requirements Needed for Physical Therapy Job in the USA with Visa Sponsorship

Before applying for a physical therapy job in the USA, you need to have substantial knowledge of the qualifications and requirements you are to meet. Highlighted below are requirements one must fulfill in order to be considered for a physical therapy job in the United States:

Candidate must have completed a degree in physical therapy or equivalent.
Must have relevant work experience in physical therapy.
Must have a current license to work as a therapist in the USA
Must demonstrate fluency in English.
candidate must possess strong interpersonal and communication skills.
Ability to effectively document patients’s progress.
The candidate must be willing to comply with the healthcare standards of practice.

In addition to these requirements, your employer may also require you to take an online course in physical therapy. This is to ensure you stay current with the best practices involved in physical therapy.

Benefits of a Physical Therapy Job in the USA

There are several advantages to a physical therapy job in the United States, some of which include but are not limited to:

Visa sponsorship.
Competitive salary.
Excellent job outlook.
Flexible work schedules.
Profession development.
Pathway to permanent residency.
Access to healthcare benefits.
Work-life balance opportunities.
Career and networking advancement.

These benefits often make physical therapy jobs in the USA sought after by so many foreigners. If you seek financial stability, profession growth, or career advancement, then you should apply for a physical therapy job in the USA.

Where to Find a Physical Therapy Job in the USA with Visa Sponsorship

There are secure and reliable websites you can visit if you are in dire need of a physical therapy job in the United States. Check out these websites:

Indeed
ZipRecruiter
Glassdoor
LinkedIn Jobs
HealthcareSource
MedicalJobsite
RecruitingForGood
TherapyJobsUSA
VisaJobs
Monster
USAJobs

How Much Do Physical Therapists Earn in the USA?

A physical therapy job in the USA is a well-compensated profession, and most people often pursue this career path in the USA because of the type of salary attached. Yearly, a physical therapist earns up to $99,710 in the United States. However, there are factors that can influence the amount of money you are paid as a physical therapist in the USA. These factors include year of experience, location, type of employer, specialty area, and level of certification.

How to Apply for a Physical Therapist Jobs in USA with Visa Sponsorship

If you are interested in applying for a physical therapy job in the USA with visa sponsorship, here’s a concise and comprehensible guideline on how to go about it:

Launch a browser on your device.
Visit a reliable job listing website.
Use the search engine to search for physical therapy jobs in the USA with visa sponsorship.
Explore and click on the available ones.
Carefully review the job requirements, description, and qualifications needed.
Click on ‘Apply’.
Send your CV and other required documents to the company.

Afterwards, you can await feedback from the company. We encourage our readers to send applications to more than one company in order to increase their chances of getting the job. If you are lucky enough to be considered for the job, then you need to start preparing for the interview stage.

Securities-Based Lending – What It Is & How It Works

LOANS

francisca

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September 11, 2024

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Securities-Based Lending – What It Is & How It Works

What is Securities-Based Lending? Securities-based lending (SBL) is a financial practice that lets you borrow money by using your investments, like stocks, as collateral.

It provides an easy way to get cash for different purposes, such as buying a home, luxury items like jewelry or a car, or investing in a business. The only thing you can’t use this loan for is to buy more securities or pay off a margin loan.

One of the main benefits of an SBL is that you can access your portfolio’s value without selling your investments. For instance, if you have $10,000 in stocks and want to use some of the money, but you believe the stocks will keep increasing in value, you can borrow against them instead of selling.

However, it’s important to remember that most of these loans have rules requiring you to pay back part of the loan right away if the value of your portfolio drops below a certain point.

How Does It Work?

Lenders determine the loan amount based on the borrower’s investment portfolio. In some cases, the lender may decide eligibility based on the type of assets.

For example, a loan could be approved using a portfolio of U.S. Treasury notes instead of stocks. Once the loan is approved, the borrower’s securities are placed in an account, and the lender becomes a lienholder. If the borrower fails to repay the loan, the lender can take and sell the securities to cover the losses.

Borrowers usually receive the loan funds within a few days. The interest rates are typically variable and tied to the 30-day London Interbank Offered Rate (LIBOR). Interest rates are usually two to five percentage points higher than LIBOR, depending on the loan amount.

Risks Of Securities-Based Lending

The largest risk is that if you default on a securities-based loan, your lender may confiscate the underlying assets. If this occurs, the lender may sell the assets and use the proceeds to pay down the remaining loan sum. You will receive any excess, but you will be responsible for any leftover debt. You must also pay any applicable capital gains or income taxes on the transaction.

However, your lender can monitor the value of your collateral. If the value of your underlying securities falls too far below the amount of the loan, your lender may issue a “margin call.” During a margin call, your lender may require you to stake additional assets, increase the value of your collateral, or repay your loan.

If you cannot or do not meet these requirements, your lender may unilaterally sell assets to cover the loan’s value. You will have no say in which investments they sell or when. If your collateral is insufficient to repay the loan, as described above, you will be expected to make up the shortfall. As previously stated, you will be responsible for all applicable taxes associated with this transaction.

Costs Of Securities-Based Lending

A fundamental advantage of a securities-based line of credit is that it typically costs nothing to establish. Typically, there are no application fees, loan origination fees, yearly expenditures, or early payment penalties. However, lenders might apply a late fee for not repaying the loan according to the loan arrangement.

Lenders generally impose variable interest rates dependent on the value of the pledged investment portfolio. Many investors elect to pledge a big chunk of their investment account to get the best rate—lenders often cut borrowing costs for larger asset pledges.

Using a modest percentage of the promised money can help lower the likelihood of a bank demand (see below). Interest on the loan amount is normally calculated daily and paid on a monthly basis. If the loan is not paid in full, accrued interest charges are added to it, along with any late fees.

Frequently Asked Questions

Why Do Clients Choose Securities-Based Loans?

Clients frequently want funds to support big transactions such as real estate purchases, strategic investment possibilities, bridging cash flows, or managing unanticipated expenses.

Why Should You Explore Securities-Based Lending?

Securities-based financing can assist clients in preserving their long-term investments by providing flexible liquidity access as an alternative to selling assets.

What Are Security-backed Loans?

A securities-based line of credit, available through a bank, allows you to borrow against the value of stocks, bonds, and other assets in your non-retirement investment portfolio. The assets in a tax-advantaged retirement account cannot be used for securities-based lending.

What Are The Different Types Of Securities Lending And Borrowing?

Securities lending and borrowing is the process of lending or borrowing shares of stock from other investors or financial institutions. Borrowers who engage in securities lending must offer collateral during the transaction. It can take the shape of cash or other sorts of securities.

Public Service Loan Forgiveness

LOANS

francisca

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September 11, 2024

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Public Service Loan Forgiveness – Borrowers who have worked in public service, whether at the state, federal, local, non-profit, or tribal government level, for 10 years or more, may be eligible for federal student loan forgiveness.

This means their loans could be fully canceled, and they would no longer need to repay them. Public Service Loan Forgiveness (PSLF) is accessible as long as you meet the qualifications.

PSLF forgives federal student loans for borrowers who work for a qualifying public service employer and make 120 qualifying monthly payments. As long as all requirements are met, you can qualify for this loan forgiveness.

This program provides peace of mind, assuring that after 10 years of payments while working in public service, the remaining loan balance is forgiven.

PSLF specifically applies to student loans, benefiting eligible borrowers. To see if you qualify and if the program is worth it, read on for more details.

Public Service Loan Forgiveness Qualification Requirements

To qualify for this program, first, you must work in an eligible public service. Also, you may qualify for PSLF if your employer offers specific types of qualifying services.

However, note that only Federal Direct Loans are eligible for this program, but you can still qualify by consolidating your federal loans into a Direct Consolidation Loan.

Moreover, it is essential to be enrolled in a qualifying payment plan, with income-driven repayment plans being the best option. This plan is based on your income, allowing you to pay less now and have more of your loan forgiven later.

How To Apply For Public Service Loan Forgiveness

It is very easy to apply for a public service loan forgiveness program. But you first need to make sure you are eligible for this program. If so, follow the below steps to apply:

Confirm Your Loans Are Classified As Direct Loans:

In cases where your loans are not classified as direct loans, you may need to consolidate your loans to qualify.

To do this, visit the studentaid.gov website to determine whether or not your loans are eligible to be consolidated into a new direct loan consolidation.

Apply In An Eligible Payment Plan:

Through the program website, gain more knowledge about the qualifying repayment methods. One of these methods is income-driven repayment plans.

Complete The Public Service Loan Forgiveness Form With Proof Of Your Public Service Employment:

Either by downloading the form or filling it out online, fill in the proper information required and read through the instructions given before submitting the form.

Set A Reminder To Submit An Updated Public Service Loan Forgiveness From Every Year:

Do this to confirm that you are still able to get public service loan forgiveness.

Immediately after the form has been submitted, ensure you are aware of who your student loan servicer is. If you do not have an idea who it is, visit the U.S. Department of Education’s Federal Student Aid website to find out.

What if I Don’t Qualify for Public Service Loan Forgiveness?

There are other options to consider if you do not meet the PSLF program requirements. These options include:

Check Out Other Means To Loan Forgiveness:

PSLF is not the only federal student loan forgiveness program you can get. Although it is the most popular, there are other loan forgiveness programs you can consider. However, ensure you stay vigilant for loan forgiveness scams so you don’t fall victim.

Remain On An Income-Driven Repayment Method:

Through this method, you can lessen your monthly repayment depending on your income. After 20 or 25 years, you may be granted loan forgiveness depending on your loan balance and loan type.

Refinance Your Loan:

Refinancing student loans can help you save and pay off debts quicker if you qualify for a lesser interest rate.

However, immediately after you refinance your federal student loan, you will lose your eligibility for loan forgiveness programs or income-driven repayment. Also, to qualify for this, you are required to have a stable income and good credit.

Bottom Line

Public Service Loan Forgiveness (PSLF) offers a valuable opportunity for those working in public service to have their federal student loans fully forgiven after 10 years of qualifying payments. By ensuring your loans are eligible, following the proper steps, and enrolling in an income-driven repayment plan, you can ease your financial burden and eventually eliminate your loan balance. If you don’t qualify, there are alternative options, including other forgiveness programs, income-driven repayment plans, or loan refinancing to explore.