In this article, Randon Morris want to discuss why you should buy a separate life insurance policy to cover the home loan liability and how to go about it.
Because the amount of a home loan used to acquire a property accounts for a major chunk of a household's monthly income, if the family's breadwinner dies, it becomes nearly difficult for the family to maintain the household, let alone service the home loan, in such a case. Buying life insurance to cover all of one's financial liabilities is a basic principle of financial planning. When you take out a home loan, you establish a new financial liability, and purchasing a life insurance policy to cover the home loan liability ensures that your legal heirs inherit the house rather than the debt. The life insurance policy is in addition to any ordinary life insurance coverage you may already have in place to protect your family members in the event of your death, says Randon Morris. How to go about it A financial planner's primary recommendation is to purchase life insurance only through a term plan and not through any other insurance product. This piece of advice is also applicable here. If you are tech aware and can do online transactions, I recommend purchasing an online term plan, which is less expensive than traditional term plans with no change in goods. The life insurance policy to be purchased for this purpose should have the same term as the home loan. Lenders typically want single premium term plan policies that are tailored for house loans and incorporate the insurance premium in the loan amount, which is recovered over the life of the loan through increased EMIs. However, I would urge you to opt for an annual premium payment policy rather than a single premium policy. This is because, in the vast majority of situations, house loan borrowers do not repay their loans in full over time, but rather prepay them as and when they accumulate sufficient funds. Because the insurance policy runs when there is a comparable liability outstanding, the portion of the premium previously paid under the single premium policy is wasted. Is it necessary to get the home loan protection plans from the same lender? First and first, let me state unequivocally that neither banking regulations nor any other law requires a house loan borrower to purchase a life insurance policy to cover the loan. Most lenders, however, require the purchase of life insurance with the home loan in order to avoid the bother of taking ownership of the property and having to auction it to recover the outstanding home loan, says Randon Morris. Furthermore, most banks that provide home loans either have their own life insurance associates or have made arrangements with some life insurance companies to sell their products in order to supplement their income. These lenders will insist on you purchasing a life insurance policy through them, which is not required. You have the option of refusing to accept your lender's life insurance coverage if it is not the lowest. If the lender ignores you, you can demand that they put in writing the requirement that you purchase life insurance as a condition of receiving a home loan. Even if you buy a life insurance policy from another insurance company, the lender will agree because they cannot deliver it to you in writing.
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Succeeding as an entrepreneur is not an easy task. You might be stuck or confused about what to do. "If you don't have someone or something to guide you through, you feel lost," says Randon Morris.
Randon Morris is one of the entrepreneurs and web designers in the business world. His effective strategies as a business consultant have made him a business leader. Being an entrepreneur doesn't mean you should use conventional methods to operate your business. Having setbacks is normal for a startup entrepreneur. "Entrepreneurs who have thriving businesses use business strategies and shun rash attitudes," reiterated Randon Morris. It has made them successful in their endeavors. Who is an Entrepreneur? An entrepreneur is a person who creates opportunities from nothing. He sees problems as an innovative challenge. He creates job opportunities for people and invites investors to invest in the business. An entrepreneur can also be called an innovator. They develop new business ideas and methods to make their business successful, Randon Morris says. You need to be creative, think quickly and deeply and be ready for changes and take risks. Creative skills are the basis of a thriving enterprise. Your creative ability will help you solve many problems you may encounter in your business. The following are four strategies to become successful entrepreneur: Invest in yourself An entrepreneur should equip himself with adequate knowledge before venturing into business. Know what you want to do, find out the market value and your target audience. Register for business classes to train and familiarize yourself with the business world. Business classes teach you effective business strategies and efficient decision-making skills. You will discover that your comprehension level has increased after the classes. Clarify your Goal Jack of all trades is indeed a master of none. Trying to do many things at the same time brings no success. Have a clear definition of what you want to do and do them one by one. It makes you prioritize what is important and focus on it. Clarity of goals gives your business a strong foundation and enhances sustainability. It improves the quality of your business and gives it a good reputation. Gradually develop your business goals and make the most of them. Read More The temporary staff agencies are consistent in providing skilled and unskilled labor to their clients. Due to this, they take on risks associated with the workers employed. Therefore, they need to protect themselves against these risks and manage them. This is why they need Temporary Staffing Insurance to effectively guard and manage the risks.
"They need to employ the services of experienced insurance companies," said Randon Morris. Random Morris has worked as an Entrepreneur, a Web Designer, and a Business Consultant. He has innovated new ideas in the business world. Random is also called a "business leader" by his peers and clients. Who are temporary staff recruiters? Temporary workers recruiting agencies employ staff on behalf of their clients for a limited period. The goal is to increase the workforce or fill temporary vacancies, says Randon Morris. Workers given to customers are employed by the temporary recruiting agencies, not the customers'. The customer's job is to directly oversee the temporary workers during their working hours. The temporary staff agencies give jobs to people and outsource them to other firms who are their customers. Not all jobs can be temporarily outsourced. People who supply farm laborers are not part of temporary staffing agencies. The best temporary staffing insurance Random Morris explained that "A reliable insurance company should have good relationships with its clients. The company must be knowledgeable, have good customer service, and give the best coverage." It must have its clients' best interests at heart. "Employees' compensation should be guaranteed. Loss and risk management tailed to the clients' needs must be offered." Randon Morris further illustrated. Insurance Areas Covered Temporary staffing insurance gives compensation to the staff, covers liabilities and health benefits. It minimizes the cost of insurance coverage to the staff to aid compliance with the rules. They provide informative materials to the clients on Human Resources' best policies, safety, and risk management. Upload this information on the company's website and update it regularly. It can also be downloaded distributed to employees, clients, and site managers Listed below are areas covered by the temporary staffing insurance.
Recruitment Procedures Liability The liabilities include common liabilities, staff benefits liabilities, recruiters liabilities. The insurance protects clients against violating these rules:
Criminal Offense:
According to Random Morris, some Temporary Staffing Insurance firms offer compensation to these people: Professional recruiting agencies that employ workers for software developer experts, lawyers, chefs, Bankers, and many more. Some of the employees protected are:
Conclusion A good Temporary Staffing Insurance should give special interest to their clients. Insurance companies should help their clients save money and prevent legal issues. They should be adept in the quick discovery of errors made by staff, and errors in recruiting procedures. A reputable Temporary Staffing Insurance firm should help guard its clients against unfair claims. The firm should teach the clients about various risks related to recruiting websites. By doing this, the workplace will be a better place for the employees and the employers. Originally Published: https://themeganews.com/finance/insurance-temporary-staffing-firms According to Randon Morris, getting life insurance if you have Type 1 or Type 2 diabetes is possible but you might have limited coverage options. If you are responding very well to treatment and keeping your diabetes under control, you are likely to get affordable life insurance. The level and type of your diabetes will determine the kind of insurance policy you will get. Many insurance companies provide affordable life insurance coverage for diabetic people with different income levels and ages. Some people may be wondering why life insurance companies are careful about diabetic patients. Being diabetic puts you at risk of developing some health problems later on. So life insurance companies try protecting themselves by increasing insurance rates and setting policies that are difficult for diabetics. Life Insurance policy options for diabetics according to Randon Morris are: Permanent Life Insurance Permanent life options like whole or universal life insurance are available for diabetics. It provides lifelong coverage and gives your policy a cash value as part of your premium is invested every month. But they are more expensive compared to non-diabetics and term life insurance, says Randon Morris. Term Life Insurance Term life is the simplest and cheapest policy and lasts for 10 - 20 years. It is a good option to consider for those that have well-controlled diabetes as you will have to undergo a medical exam and answer some health questions. So once your term life policy is approved, it is better to consider longer period coverage. This will secure your premium in case of any health issues that may arise later on as you get older. Guaranteed or Simplified Issue Life Insurance The simplified issue offers life insurance with no medical exam which is a good option for those who have uncontrolled or advanced diabetes. But you have to fill a health questionnaire, while with guaranteed issue life insurance you can avoid both the medical exam and the health questionnaire. Getting approval for a guaranteed issue policy is quite easy and could be an option for those having severe health issues with diabetes. Life Insurance Riders Some policies give you the freedom to customize your coverage with life insurance riders. Let's quickly look at these riders: Term conversion rider: with this, you can convert part or all of your term life policy into permanent coverage before reaching a certain age. Accelerated death benefit rider: if you are diagnosed with a terminal sickness, this rider gives you early access to part of your policy death benefit. Guaranteed insurability rider: you can easily increase your coverage without another health questionnaire or medical exam. Waiver of premium rider: if you have a disability and can't work for some time, you can pause your premium with this rider. Group Life Insurance Some companies offer group life insurance as part of a benefits package, this is another means by which diabetics can get insured. As there will be no need to take a medical exam, though many of the companies offer policies that are worth just one or two times your salary. In conclusion To get cheaper life insurance as diabetics depends on the amount of coverage you want, the type of diabetes, the age at which you were diagnosed and the type of policy you want. It is better to review various insurance companies and choose the one with the best offer for you, says Randon Morris. Originally Published According to Randon Morris - the business consultant, defining what customers want is something all successful businesses must do. No two customers are the same, so determining
their needs and wants requires flexibility and a fluid approach that leaves room for business owners to adapt as their customers’ needs change. The outbreak of the deadly coronavirus in late 2019 forced both consumers and business owners to change how they shop and sell products, respectively. Those changes were made seemingly overnight, as governments across the globe placed restrictions on businesses and individuals in an effort to curb the spread of the virus. Business owners may face a challenge in determining what customers want after the pandemic, but they can utilize various strategies to help that process go smoothly, says Randon Morris. Solicit customer input Though vaccination rollouts have gone smoothly so far, many consumers are taking a cautious approach to getting back to normal. Soliciting customer input can be a great way to gauge their comfort levels as well as what they’re looking for in a post-pandemic climate, says Randon Morris. Customer surveys can shed light on the psyche of your consumers and what they’re looking for from the businesses they trust. Lean on sales teams Sales teams interact directly with the customers, be it in person, via Zoom calls, emails, or other channels. Business owners can lean on their sales teams for input regarding how customers are feeling and what their goals for the future are. Instruct sales teams to speak directly with customers about their short- and long-term goals, and then utilize their feedback to inform decisions going forward. Read More Having a new baby is a joyous event for the new parents and loved ones around them. The new parents get busy with taking care of the baby's needs and hardly have time for themselves or anything else. Getting life insurance might be the furthest thing on their minds. It is understandable because they need to juggle work, family, and the newborn and try to balance them. Still, paying for life insurance is important and shouldn't be forgotten. As new parents, the insurance benefits can help secure your children's future if you are not there to care for them. Full-time parents need life insurance so that they won't overburden the surviving parent with financial debts.
Meaning of life insurance Life insurance is described as a vital financial sanctuary. It generates an income for your inheritors upon your demise. This earning is tax-free and the sum given to your beneficiaries depends on the amount you bought. You choose the insurance package that suits you, make the equivalent payment and put down the name of your appointed successors. Beneficiaries are those you choose who receive your money or benefits and use it as stipulated or as they deem fit. They can use it for their medical expenses, mortgage bills, school fees or any other living expenses. Randon Morris, a business consultant who is known for his business acumen said, "When acquiring a life insurance scheme, go to a reputable insurance firm and consult with them before deciding on what to get. You will receive guidance and get to understand what you are acquiring, the terms and conditions. This will save you from buying complex insurance that will give your beneficiaries problems when they need the benefits." Life Insurance Acquisition Tips 1. Select the right package: Randon Morris also stated that there are two categories of life insurance, namely period (term) insurance and continual (permanent) life insurance. Term insurance is an insurance package whose coverage is set over some time (like 5, 10 or 20 years. This means that the benefits or money will not be given to the beneficiaries after the set period has expired. The advantage is that it is affordable, especially for parents with children. Permanent life insurance offers lifelong coverage. "Purchasing a permanent life insurance policy is probably the best choice for any parents" Randon Morris admonished. After purchasing the package, you can add term insurance as an added benefit for your beneficiaries. 2. Think far ahead: It might be too soon to think about your new baby's future educational needs but it is better to be safe than sorry. School fees today we're not the same as the fees paid two years ago. Things change every day, prices fluctuate and you cannot predict the future. As new parents, you want your baby to have the best care, education, a good job, healthy and happy life and so on. Yet, the cost of getting these things is not cheap. Put the cost of your baby's education into consideration when you purchase a policy. It will prevent you or your baby from being neck-deep with student loans. Read More ! According to expert Randon Morris, if there have ever been questions on the importance of health insurance, the COVID-19 pandemic has only but stressed how crucial it is to have adequate healthcare coverage at your backings. It’s not surprising that the number of people who have opted for the full insurance coverage plan have skyrocketed in no time.
The COVID-19 has not only taken a toll on the health but also finance, social, economy and every aspect of life. It is one life-changing virus that will never be forgotten in human history. However, the second wave seems to be more shattering than the first despite the fact that the long-awaited vaccines have been discovered. The whole world is still grappling with this reality and those who are battling with this life-threatening virus have other issues to face-finance. The pocket has been hitting a dip and it becomes difficult for many to access adequate health care. This is why health insurance plans are crucial, serving as a safety financial tool to help out when medical emergencies occur. This goes beyond opting for COVID related options that might not be comprehensive enough to meet health and financial needs. The point is many things can go wrong. Unplanned situations such as accidental injuries, sicknesses or any other medical contingencies. That is why you need comprehensive family health insurance to get you and your loved ones covered. For this, Randon Morris, a booming entrepreneur and business consultant provides tips to buying health insurance during COVID-19 pandemic. Understand the policy that matches your need Health insurance is a great investment and you wouldn't want to make the mistake of choosing one that isn't adequately meeting your needs, says Randon Morris. There are various insurance policies with each coming in different variants. Hence, you might need to do some homework in order to choose the one that is right for you. From individual plans, to family, to critical illness to older citizen plans, the list goes on. Read these plans, understand what it entails and choose the ones that best meet your needs. Opt for a comprehensive coverage benefits Whether acute or chronic illness, a comprehensive coverage plan will provide you financial coverage in case of any medical emergencies. A comprehensive one unlike basic will cover both outpatient and in patients’ medical needs including medical tests, hospital stays and many more. Compare health insurance providers and offerings Various providers offer various insurance plans and services. Although there are insurance aggregators that have done the hard work for you, you still need to carry out individual research to know their offerings. Compare the premiums as well and see if it does justice to the services provided. Look for extras and any premium discounts offered in order to ensure you get the best plans at the best price. Check the hospital network Your health insurance provider should provide a list of network hospitals. These are hospitals that partner with Health insurance companies to provide cashless treatment and they can greatly relieve your financial burden than those without. Hence, your best bet is to go for a cashless hospitalization that is not only convenient but also clears up all your worries about medical expenses. Understand the claim settlement ratio This is another important aspect that needs to be understood before making any decisions. You need to know the number of claims an insurer has settled as compared to the claim received. This gives an assurance that the insurer is committed to delivering results at the right time. These important factors will help you to make the right decision when choosing an insurance policy. "While at it, always review your plans to ensure it is still meeting your needs and requirements, Randon Morris advises. Originally Published: https://cremensugar.com/health/health-insurance-pandemic According to successful entrepreneur - Randon Morris, the coronavirus pandemic has brought stress to an all-time high for many people. Besides the health concerns of COVID-19, women business owners face many other challenges as their businesses and home lives have turned upside down. As a mom of four and CEO of a company, I empathize with women trying to do it all in the new normal. In this post, I'll share some of my own personal and professional strategies for navigating through the fear and uncertainty of the pandemic.
1. Focus on the Positive Dwelling on what's not going well and beyond your control only exacerbates stress, anxiety, and feelings of helplessness. Worry and negativity are counter-productive and a waste of mental energy. Like many individuals, this is something I know but often need to remind myself of, says Randon Morris. Throughout the pandemic, I've been careful to focus on the benefits that have come from being locked down. For example, without commuting to the office and attending in-person engagements, my life has become much less rushed. It made me realize that the constant go-go-go of pre-COVID life amplified my anxiety. Now, I feel more relaxed and have more flexibility with my time. Working from home gives me more quality family time. Also, even though my employees now work remotely, we've developed stronger personal bonds. Our shared concerns and challenges over COVID-19 have facilitated more open, transparent conversations about our feelings. 2. Brainstorm Opportunities for Your Business The pandemic created new challenges for everyone, including customers. If you’ve experienced declining sales of existing products and services, think creatively about generating revenue by satisfying customers’ emerging needs. As you consider possible new revenue streams for your business, Randon Morris recommend talking with existing customers. Ask them for their thoughts about how you might adapt your services or products to help them solve their issues and satisfy their needs. There may be untapped potential that you haven’t yet thought of on your own. 3. Make Room in Your Schedule for Self-Care At the start of the pandemic, social media was ablaze with humor centered on gaining the "COVID 15" from indulging in bags of potato chips and wine while quarantined. Many people found solace in comfort food and alcohol. But vices are only a temporary fix to alleviating stress. That kind of lifestyle isn't sustainable if you want to be a healthy and productive business owner. One of the bright sides to having fewer places to go is that there’s more time for self-care. Take advantage of it! Essentially, there’s no excuse not to take better care of yourself now. First and foremost, healthy habits can help you fight off and recover successfully from illnesses. Second, self-care helps to ensure you are at your best mentally and physically for your family and your business. Originally Published: https://randonjamesmorrisweb.wordpress.com/2021/06/15/female-entrepreneurs-defeat-pandemic/ Whether an individual work in the insurance sector or not, everybody knows about insurance and its benefits. However, most people do not aware of disability insurance and how it can help a disable in protecting income. Although it is possible to tailor disability policy as per individual needs, still it is necessary to consider a few important things while choosing an insurance plan.
Let’s explore a few important factors that you must consider when purchasing disability insurance with Randon James Morris. 1. Prefer Independent Insurance Agent Either an individual can purchase disability insurance directly from an insurance company or from an independent insurance agent. If you purchase a policy with the help of independent insurance agent, you will be able to overview of all available insurance policy option. Otherwise, sometimes it becomes difficult to gather all information and knowledge about the insurance plan and its benefits, especially when you buy directly from the company. Therefore, experts recommend an independent insurance agent who is referred by an experienced colleague. 2. Apply For Disability Insurance Before You Need It According to experts including Randon James Morris, it is always better for an individual to buy disability insurance when you are fit and healthy. In most cases, there are policies that require medical underwriting, including your medical records, physical examinations, and test reports. Therefore, it is better if you apply for disability insurance when you are healthy. 3. Evaluate Your Average Income In disability insurance, an individual’s eligibility depends on his net income. For instance, you are an entrepreneur and your income vary from month to month, it is difficult for insurance companies to figure out your exact income. In such a situation, your insurance agent will ask you for your last three years tax return and divide the figure by 36 months to evaluate your average monthly income. 4. Drop Disability Insurance Policy When You Are Over Retirement Age If your age is above 65 years, there is no point of holding insurance policy. According to experts including Randon Morris, you must drop the idea of taking disability insurance policy at the retirement age. For instance, you are over 65 years old and you became disabled. At this age, you will consider as retired so the insurance policy won’t pay. Therefore, it is advisable to drop the policy if you hit the age of retirement, as you will not able to avail the benefits from it. If you are still confused, it is better to approach experienced insurance advisor the advice or recommendation. Final Thoughts So these are few good tips from to Randon James Morris that you must consider while buying a disability insurance plan. When you invest your money in a disability insurance plan. It is advisable for you to consider all the factors, benefits, and circumstances before choosing the plan. As it is mentioned above, it is always better to hire an insurance agent instead of directly approaching an insurance company. An insurance agent does not get any financial incentive to sell one policy over another. Therefore, he can advise you fairly an insurance plan as per your situation, needs and requirement. If you have more query to ask related to disability insurance, you can drop your query below in the comment box. Originally Posted: https://cszgov.com/finance/how-to-purchase-disability-insurance/ Today, most people around the world prefer getting a pet insurance policy for their pets. However, not everyone is aware of pet insurance and its benefits. When your pet is dealing with some illness or diseases and you cannot afford its treatment, pet insurance is the key. Hold on! It may seem exciting, but there are various things that you need to consider before taking pet insurance.
Let’s explore a few important things you should look for in a pet insurance policy with the expert Randon Morris. But before that, there are few things you must know about pet insurance policy coverage. You still pay costs up front When it comes to health insurance, you pay only the fixed out of the pocket amount, and the insurance company reimburses the physician for the balance. But when it comes to pet insurance, it works differently. You pay for the complete treatment, submit the claim and get a check for the covered portion, said by Randon Morris. Pet Insurance does not cover well-pet services Pet insurance does not cover well-pet services, it only offers coverage for illnesses and injuries. When it comes to annual checkup-type services, which includes vaccines, dental cleanings, or heartworm medications, it does not include in policy coverage. However, you can opt for wellness plans, which are actually the opposite of pet insurance. Wellness plans do not cover illnesses or injuries but refund you a fixed amount of vaccines and few other well-pet services. According to Randon Morris, it is better if you add a wellness plan to your illness and injury policy for an additional fee. You may not get coverage on Day One In many policies, there is a waiting period, so your pet typically isn’t covered the day you enroll. You may find different gaps for various different kinds of coverage or conditions. For example, some policies may not cover claims for hip dysplasia, within the first year. Now let’s discuss what to look for in a pet insurance policy with Randon James Morris. Continuous coverage for chronic conditions The chronic conditions like Cancer, Arthritis, Allergies, and Kidney disease are not short-term conditions, and it may require lifetime treatment for your pet. Therefore, it is necessary for you to ensure the duration of covered insurance. In case your pet needs medication every month for the rest of its life, you need to make sure it’s not just covered for that year only. Genetic conditions Some breeds usually prone to certain issues, for example — Great Danes are prone to heart disease, and pugs and other smushed-faced dogs mostly deal with breathing issues. Before taking an insurance policy, do a complete research of breed-specific ailments and make sure it’s covered by your policy. Alternative therapies includes in Pet Insurance Policy The medical care available for dogs also includes services like acupuncture and chiropractic care. If you want the full range of options, ensure these alternative treatments are also covered in a plan you choose. Final Thoughts So these are the few useful tips from the expert Randon Morris regarding pet insurance policies and what things you should look for in a pet insurance coverage. Originally Posted: https://articleshubspot.com/pet-insurance-policy/ |
AuthorRandon James Morris is an Entrepreneur, Web Designer and Business Consultant from Orem, Utah . Categories
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