Sunday, September 16, 2012

How to Proceed the Car Insurance Application

As a mobile person in the modern day, insurance has become the important thing to have. Starting from here, there are two types of insurance which is important for mobile person id est. life insurance and auto insurance or car insurance. Car insurance is the most relevant thing to stand side by side with the people activity. It is easy to protect your car through car insurance facility. All you need to do first is to find the reliable insurance company and register your application by visiting the company directly, or via the agent.

Starting from your application, the insurance company will survey your nominated car to consider its agreement to cover your car. In this stage, insurance company will decide if it agrees to cover your car or not. The determination factors here are the age of the car, the number of premium, or the occupation of the car itself whether it’s covered by other insurance or not. All the survey report will be concluded into the contract to be signed as the agreement between you and the company insurance. You have to carefully note the agreement before signing it so when you apply your claim one day, there will be a clear and certain contract for both parties.

Tuesday, August 21, 2012

Saving For Children's Education

One of the most common financial goals that couples have is to save money for their children's education, whether that be at a private school or a tertiary institution. Saving for this purpose is no different than saving for any other goal in life, yet there is a common misperception that funds need to be set aside separately or even in the child's name for this purpose. That can lead to a lower rate of investment return in some cases.

If you are going to save for your children's education, then you're probably looking at saving tens of thousands of dollars and it will take a number of years to get to that target.

That means starting when the child is young - in fact, probably at the preschool age. Anybody with preschoolers most probably has a mortgage. With mortgage interest rates being so high, the best place to put your money is into your mortgage to keep the interest payments down. If, for example, you are paying say 7.0% interest on your mortgage you would need to earn at least 7.0% after tax on an investment to make it worthwhile investing and not paying your mortgage. So pay off your debt as fast as you can, and then remortgage later if your still really want to help your kids. If you have grandchildren that you wish to provide for, the situation may be a little different. You probably won't have a mortgage and you may wish to make funds available that are clearly earmarked for your grandchildren and clearly specified to be used only for education costs. A good way of achieving these objectives is to set up an education trust. This can be done through a solicitor or trustee company. There will be a fee involved to establish and maintain the trust, but there will be safeguards in place to ensure that the funds are used for the purpose you intend. An education trust can be particularly useful in certain situations, for example, where there is a relationship breakdown between parents and a parent or grandparent wishes to make funds available without the risk of the money being used for a different purpose. An education trust can also be used where funds might be at risk of a possible future claim by business creditors.