Do Not Be Tricked Into Taking Out High-Cost Payment Protection Cover
Payment protection cover has seen many problems over the last few years which have all had a negative effect on the family of payment protection products. One of the many problems associated with policies has been that they are ‘pushed’ alongside a loan at the time of borrowing. A popular consumer watchdog announced that out of 41 lenders they contacted regarding taking out a loan, 24 of them included payment protection with the quote.
While taking out a payment protection policy in order to cover your loan or credit card payments can work well in the event of being unable to work, you must give a lot of thought to which policy you take out. This means sitting down and reading the key facts that come with the cover and understanding them.
It is important to be aware that there are exclusions included in the protection that can mean you would not be eligible to claim. This means that the 24 quotes that were given to the watchdog that included cover could possibly have been mis-sold – had the consumer taken it without being aware that the exclusions existed?
Those who only work on a part-time basis, are retired or self-employed, or who have an ongoing medical condition would not benefit from taking out payment protection insurance. These are just some of the exclusions that can be frequently found in a policy.
Those individuals who have loan or credit card payments to make each month who want the peace of mind a policy can bring should visit a specialist website. There are many benefits to going online with an independent provider. The information they provide enables the consumer to make an informed choice regarding suitability before they take on the cover. Getting an immediate quote based on your age and the amount you wish to cover each month is easy and along with this the quote will come with the key facts.
But one of the biggest reasons for going with a specialist is the money you can save on the premiums. Buying cover from an independent specialist can save you up to 80% in comparison to the quotes some high street lenders offer. A quality policy provides peace of mind that you would have a tax-free sum of money if you were to find yourself incapable of working. And there are many reasons why you may be unable to work – such as if you suffered from an illness, an accident or unemployment due to redundancy.
You do have to be out of work for a defined period of time before the policy kicks in. However, with the majority of ethical providers the cover is backdated to day one. Usually you begin to receive the benefit from between 30 and 90 days of continuously being out of action. Payment protection cover then continues for between 12 to 24 months, depending on the conditions set out by the provider. Having this income each month would allow you to relax and get well without suffering from the stress of having to find the money by some other means so that you could continue meeting your loan or credit card repayments each month.
created by Simon Burgess on articlecity.com
While taking out a payment protection policy in order to cover your loan or credit card payments can work well in the event of being unable to work, you must give a lot of thought to which policy you take out. This means sitting down and reading the key facts that come with the cover and understanding them.
It is important to be aware that there are exclusions included in the protection that can mean you would not be eligible to claim. This means that the 24 quotes that were given to the watchdog that included cover could possibly have been mis-sold – had the consumer taken it without being aware that the exclusions existed?
Those who only work on a part-time basis, are retired or self-employed, or who have an ongoing medical condition would not benefit from taking out payment protection insurance. These are just some of the exclusions that can be frequently found in a policy.
Those individuals who have loan or credit card payments to make each month who want the peace of mind a policy can bring should visit a specialist website. There are many benefits to going online with an independent provider. The information they provide enables the consumer to make an informed choice regarding suitability before they take on the cover. Getting an immediate quote based on your age and the amount you wish to cover each month is easy and along with this the quote will come with the key facts.
But one of the biggest reasons for going with a specialist is the money you can save on the premiums. Buying cover from an independent specialist can save you up to 80% in comparison to the quotes some high street lenders offer. A quality policy provides peace of mind that you would have a tax-free sum of money if you were to find yourself incapable of working. And there are many reasons why you may be unable to work – such as if you suffered from an illness, an accident or unemployment due to redundancy.
You do have to be out of work for a defined period of time before the policy kicks in. However, with the majority of ethical providers the cover is backdated to day one. Usually you begin to receive the benefit from between 30 and 90 days of continuously being out of action. Payment protection cover then continues for between 12 to 24 months, depending on the conditions set out by the provider. Having this income each month would allow you to relax and get well without suffering from the stress of having to find the money by some other means so that you could continue meeting your loan or credit card repayments each month.
created by Simon Burgess on articlecity.com
7:25 AM | | 0 Comments
Tips for Prescribing a Future for Your Business
Are you wondering what the future holds for your business? Whether you want to predict your future or prescribe an outcome of your choosing, you'll have plenty of company!
Throughout history, we humans have tried many ways to predict the future, from reading palms to stargazing. Today, we refer to these as descriptive methods when we attempt to describe objectively what the future will be or could be.
On the other hand, prescriptive methods focus on determining what the future should be. These techniques can help us clarify our preferences and values so we can create a vision of what we would like to see in our lives, businesses, or communities.
Once we understand what we would like the future to represent, we're better able to take the actions required to implement it. Ideally, that future will align with our passions, gifts, and what we (or our companies) can really be the best at doing. This article suggests a two-stage process for achieving that goal.
First, Identify Your "Hedgehog Concept"
So, what can you be the best in the world (or at least in your community) at doing? This thought-provoking reflection is one of many from Jim Collins' "Good to Great: Why Some Companies Make the Leap...and Others Don't."
Collins' team examined 1,435 companies to see which ones made substantial gains in profitability and sustained those improvements over 15 years or more. Since the 1970s, only 11 companies had risen from mediocrity to greatness and stayed there -- topping many other prosperous firms that lacked the same staying power.
Of eight characteristics these companies shared, all held an unshakable adherence to becoming the best in the world at whatever they did. Each company committed to doing only those things and nothing else. That sometimes meant dropping their core businesses to pursue other things at which they could become the best in the world.
Collins and his team coined the term "hedgehog concept" to reflect a single-minded determination and focus that, similar to that of the hedgehog animal, attempts to do only one thing really well, such as curl up and roll. A hedgehog concept actually represents the intersection of three areas:
1) What you're most passionate about
2) An understanding of what you could be the best at doing, and
3) A metric that drives your economic engine and helps you measure results.
Keep in mind that according to Collins, this concept is not a goal, strategy, or plan, but an understanding of what you can and can't be the best at doing. Until you develop your hedgehog concept, you won't know your true vision, mission, or purpose.
Next, Define Your "Business Success Criteria"
Do you have a crystal clear idea of the types of business undertakings that align with your gifts, talents, passions, and strengths? In that same context, have you thought about whether your business can be the very best in the world at doing those things?
If the answers are "yes," you are in an excellent position to choose the ventures that can give you the greatest satisfaction and results.
If you're not yet totally clear about the answers to these questions, developing a set of "business success criteria" can enable you to select worthwhile endeavors with much deeper insight, and thus set the conditions for successfully pursuing them. A hedgehog concept thereby represents part of the formula you can devise to identify and choose among your very best options.
Why is this so important? It's not uncommon for people to wander into businesses, projects, and professions opportunistically, which means that they often select the next available and convenient thing that comes along. At times, this may be necessary for financial reasons. But unless we understand our underlying success criteria, we might not recognize the options that truly fuel and inspire us -- those that are best suited to our passions and strengths.
Some of your criteria could be practical considerations, and others more lofty ideals. But all of your criteria will be essential to achieving balance, fulfillment, prosperity, and higher contribution in your life.
In conclusion, a set of carefully crafted success criteria fueled by a potent hedgehog concept provides an unbeatable strategic advantage, and an excellent direction-finder for prescribing your future!
created by Adele Sommers on articlecity.com
Throughout history, we humans have tried many ways to predict the future, from reading palms to stargazing. Today, we refer to these as descriptive methods when we attempt to describe objectively what the future will be or could be.
On the other hand, prescriptive methods focus on determining what the future should be. These techniques can help us clarify our preferences and values so we can create a vision of what we would like to see in our lives, businesses, or communities.
Once we understand what we would like the future to represent, we're better able to take the actions required to implement it. Ideally, that future will align with our passions, gifts, and what we (or our companies) can really be the best at doing. This article suggests a two-stage process for achieving that goal.
First, Identify Your "Hedgehog Concept"
So, what can you be the best in the world (or at least in your community) at doing? This thought-provoking reflection is one of many from Jim Collins' "Good to Great: Why Some Companies Make the Leap...and Others Don't."
Collins' team examined 1,435 companies to see which ones made substantial gains in profitability and sustained those improvements over 15 years or more. Since the 1970s, only 11 companies had risen from mediocrity to greatness and stayed there -- topping many other prosperous firms that lacked the same staying power.
Of eight characteristics these companies shared, all held an unshakable adherence to becoming the best in the world at whatever they did. Each company committed to doing only those things and nothing else. That sometimes meant dropping their core businesses to pursue other things at which they could become the best in the world.
Collins and his team coined the term "hedgehog concept" to reflect a single-minded determination and focus that, similar to that of the hedgehog animal, attempts to do only one thing really well, such as curl up and roll. A hedgehog concept actually represents the intersection of three areas:
1) What you're most passionate about
2) An understanding of what you could be the best at doing, and
3) A metric that drives your economic engine and helps you measure results.
Keep in mind that according to Collins, this concept is not a goal, strategy, or plan, but an understanding of what you can and can't be the best at doing. Until you develop your hedgehog concept, you won't know your true vision, mission, or purpose.
Next, Define Your "Business Success Criteria"
Do you have a crystal clear idea of the types of business undertakings that align with your gifts, talents, passions, and strengths? In that same context, have you thought about whether your business can be the very best in the world at doing those things?
If the answers are "yes," you are in an excellent position to choose the ventures that can give you the greatest satisfaction and results.
If you're not yet totally clear about the answers to these questions, developing a set of "business success criteria" can enable you to select worthwhile endeavors with much deeper insight, and thus set the conditions for successfully pursuing them. A hedgehog concept thereby represents part of the formula you can devise to identify and choose among your very best options.
Why is this so important? It's not uncommon for people to wander into businesses, projects, and professions opportunistically, which means that they often select the next available and convenient thing that comes along. At times, this may be necessary for financial reasons. But unless we understand our underlying success criteria, we might not recognize the options that truly fuel and inspire us -- those that are best suited to our passions and strengths.
Some of your criteria could be practical considerations, and others more lofty ideals. But all of your criteria will be essential to achieving balance, fulfillment, prosperity, and higher contribution in your life.
In conclusion, a set of carefully crafted success criteria fueled by a potent hedgehog concept provides an unbeatable strategic advantage, and an excellent direction-finder for prescribing your future!
created by Adele Sommers on articlecity.com
7:22 AM | | 0 Comments
Invest In Yourself – Your Career, Future Income Stream, Education And Training
The advice often given to young couples starting off in life is “Not to buy what you cannot afford”. The same basic advice should be heeded by many. If you cannot afford it- then do not buy the item. But what of investing in your own future in terms of an investment in your personal education or training as well as investments in your own personal career. Is this not getting ahead in life? Is this not money well spent? Even if you have to borrow and go into debt is this not money well spent?
If at the end of the day , year or decade you will be much further ahead in position , salary as well as benefits in addition to “job” and “personal” satisfaction is this not money, time and effort well spent and allocated. ? Indeed it is and can well be.
In the case of your education a dollar borrowed now will result in better jobs- that you will most likely find more challenging and enjoyable , and have a lot more financial reward than a job on the status scale – say as a bus driver or a technician doing oil jobs at your local Wal-Mart. In the case of a vehicle or car loan it may be a godsend. If your vehicle is not reliable – then how can you show up on time, keep your job without an image and reputation of reliability? Not only do you want to keep your employment and income associated with the job but also the job references from your employment superiors for use with other employers for better positions and pay, or for promotion within your present organization. You may even run into a case of promotion within your present firm to another branch office or plant. Not having reliable transport may limit your promotion offerings and flexibility. In addition, if you take out a loan to purchase that vehicle, you may well have upscaled and upgraded your car or SUV, from the models that you most likely would have purchased. By doing so, and driving a higher grade auto model, you may well appear as a more established, senior, more experienced and established employee as well as individual. Fortunately or unfortunately in life most comes down to appearances and perceptions.
There may be a much better and / or better paying job but its way across town, or in an area not served by the bus transit system. Or it may be the case that there is bus service - but if devours a good two to three hours a day of travel time. Good bye to your personal social life. You may have all the money in the world – the wealth of Bill Gates Himself and yet no time or energy to enjoy it. So much for all that pay of that new wonderful job.
A real step foreword as they say. It is always a case of reward versus cost or cost versus benefit. It is a case by case analysis.
In addition you should think of additional or add on costs. Do not stretch yourself too thin – financially. A course at university may not be offered in your calendar year – you will have to complete your schooling fully at a later date than expected. A course may be full – ditto for time delay. Or you may even have to repeat a course or change plans along the way necessitating longer time duration of studies. Leave a buffer of funding both for yourself and as well with the agency that provided the loan – be at bank, savings and loan, credit union or even parents or relatives. Don’t break the bank so to speak at the first step. The same analysis of benefit versus costs prevails in the car / transport / job scenario situation. Many people will drive across town for a bargain to save a dollar and spend $ 10 on gas costs in the process. Incorporate the price of gas into your final net salary not as an aside.
Lastly and most importantly – always pay your bills. Never take on more than you can chew, or in this case afford. Before making that commitment for a loan or undertaking always evaluate carefully before signing on the bottom line. It’s not only a matter of convenience. Your credibility itself is on the line, in addition to your personal honor and integrity and reputation. Pay your bills on time – even earlier than required. This applies to all loans – whether they are for rent, mortgage, utility bills, bank loans, charge card payments or student loans. If you cannot pay in full, then at least pay a bit above the minimum payment. If you are really stuck then contact the lender. Explain the situation honestly. Make a commitment and follow through. Remember the whole point of the exercise was your self improvement – an investment in yourself. To not take the exercise seriously is to shortchange yourself and your future opportunities as well as income stream in the future. To borrow for yourself and personal gain make prudent sense.
create by Maxwell Z. Rubin on articlecity.com
If at the end of the day , year or decade you will be much further ahead in position , salary as well as benefits in addition to “job” and “personal” satisfaction is this not money, time and effort well spent and allocated. ? Indeed it is and can well be.
In the case of your education a dollar borrowed now will result in better jobs- that you will most likely find more challenging and enjoyable , and have a lot more financial reward than a job on the status scale – say as a bus driver or a technician doing oil jobs at your local Wal-Mart. In the case of a vehicle or car loan it may be a godsend. If your vehicle is not reliable – then how can you show up on time, keep your job without an image and reputation of reliability? Not only do you want to keep your employment and income associated with the job but also the job references from your employment superiors for use with other employers for better positions and pay, or for promotion within your present organization. You may even run into a case of promotion within your present firm to another branch office or plant. Not having reliable transport may limit your promotion offerings and flexibility. In addition, if you take out a loan to purchase that vehicle, you may well have upscaled and upgraded your car or SUV, from the models that you most likely would have purchased. By doing so, and driving a higher grade auto model, you may well appear as a more established, senior, more experienced and established employee as well as individual. Fortunately or unfortunately in life most comes down to appearances and perceptions.
There may be a much better and / or better paying job but its way across town, or in an area not served by the bus transit system. Or it may be the case that there is bus service - but if devours a good two to three hours a day of travel time. Good bye to your personal social life. You may have all the money in the world – the wealth of Bill Gates Himself and yet no time or energy to enjoy it. So much for all that pay of that new wonderful job.
A real step foreword as they say. It is always a case of reward versus cost or cost versus benefit. It is a case by case analysis.
In addition you should think of additional or add on costs. Do not stretch yourself too thin – financially. A course at university may not be offered in your calendar year – you will have to complete your schooling fully at a later date than expected. A course may be full – ditto for time delay. Or you may even have to repeat a course or change plans along the way necessitating longer time duration of studies. Leave a buffer of funding both for yourself and as well with the agency that provided the loan – be at bank, savings and loan, credit union or even parents or relatives. Don’t break the bank so to speak at the first step. The same analysis of benefit versus costs prevails in the car / transport / job scenario situation. Many people will drive across town for a bargain to save a dollar and spend $ 10 on gas costs in the process. Incorporate the price of gas into your final net salary not as an aside.
Lastly and most importantly – always pay your bills. Never take on more than you can chew, or in this case afford. Before making that commitment for a loan or undertaking always evaluate carefully before signing on the bottom line. It’s not only a matter of convenience. Your credibility itself is on the line, in addition to your personal honor and integrity and reputation. Pay your bills on time – even earlier than required. This applies to all loans – whether they are for rent, mortgage, utility bills, bank loans, charge card payments or student loans. If you cannot pay in full, then at least pay a bit above the minimum payment. If you are really stuck then contact the lender. Explain the situation honestly. Make a commitment and follow through. Remember the whole point of the exercise was your self improvement – an investment in yourself. To not take the exercise seriously is to shortchange yourself and your future opportunities as well as income stream in the future. To borrow for yourself and personal gain make prudent sense.
create by Maxwell Z. Rubin on articlecity.com
7:15 AM | Labels: business, education, income | 0 Comments
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