Universal Life Insurances Can Be Popular – But Is It For You?

Of all the different types of policies, the universal life insurance seems to be the most favorite among today’s policyholders. It is a much later innovation, conceived to meet a modern need. However, it does not mean that the earlier policies have all become redundant. No, even term life, the original life insurance policy, has quite a big following even today and so have the whole life policies. Nonetheless, people seem to prefer universal life because it combines the low cost protection of the term life with the saving elements of a whole life to provide a perfect solution to modern insurance need.I am sure you are aware that the term life is the original type of insurance policy. Indeed, life insurance may have actually started in the form of burial clubs and artisans’ guilds in the Middle Ages, but the term insurance that we know of today is a much refined version. It is a pure life insurance policy valid a temporary period only. You can buy one for a period of 1/5/10/15/20/25/30 years. Since these policies do not accrue any cash value, you can have a large coverage at a very reasonable rate.However, on the con side, unless you die within the valid period, the term insurance policies offer no return. The whole life policies were next conceived as its antidote. They had saving element incorporated in them. However, such policies were little too expensive and premium payment mode was little too rigid. The universal policies came next. It became instant hit because it offered more flexibility when it comes to cost and coverage.Indeed, if you want to take advantage of the market without loosing the security of the life policy, there can be nothing better than a universal life. Following are some of its salient points:• It is a permanent policy valid for the life of the insured and so whenever the insured dies, his beneficiary is sure to get the benefit.
• These policies are slightly overpriced and amount paid above the cost of insurance is credited to a cash value account.
• Interest too is credited to the account. It may either be determined by the insurer or pegged to financial indexes such as stock, bond etc.
• If you fail to pay the premium, the amount will be debited from this account, thus keeping policy in force in spite of occasional lapses.Today we also have variable universal insurance, which allows the cash value to be directed to a number of separate accounts that operate like a mutual fund. However, since these policies are equity based, they can offer higher return, but if the market goes down, they offer greater risk too. If you are buying the policy solely for insurance purpose, such a policy may not be a very good idea because the death benefit will be paid as long as you have enough cash value to pay the costs of insurance in the policy.However, it is not for me to tell you what type of policy to buy. Receive different categories of life insurance quote on line and then decide. All said and done, I cannot stop myself from adding that, for life insurance purpose, you will do well if you buy only a term life insurance. It is true that a term life does not offer cash value, but its rates are so low that only a financial fool will expect it from the policy. Instead, the financial advisers say that one should buy a low cost term life for insurance purpose and then invest the difference in separate fund.However, not every type of term insurance is cheap. The term life insurance no medical exam policy for example is so expensive that the concept of investing the difference cannot be applicable here; in fact, the price structure of such a policy does not leave any difference to invest. Sometimes they are as expensive as a universal life policy is. Yet, such policies are no less popular because they too have some unique advantages.No medical policies provide instant coverage. You apply today and if you qualify, your family will start being covered by the policy from tomorrow and that too for the full amount. Of course, just as every other case, suicide within first two years is always excluder from its purview; otherwise, every other type of death in included under this policy. You may wonder why this policy is so expensive. Actually, without the medical test, the carriers can never work out the exact cost of insurance and so they charge more. Remember, they are here to do business, not for charity.

What’s the Hardest Part of Marketing Yourself?

In my Fast Track Marketing System I divide marketing into seven very specific modules:1. The Game of Marketing2. The Mindset of Marketing3. Marketing Messages (Your Value Proposition)4. Marketing and Selling Conversations5. Written Marketing Materials6. Marketing Strategies7. Marketing Action PlansAll of these have their particular challenges. But in my experience in working with thousands of Independent Professionals, it’s #7 that seems to be the hardest for most people.After all, most of the other 6 modules are all about preparation to market yourself.You learn the basics of the game of marketing, you work on your marketing mindset, you develop marketing messages, conversations, and written marketing materials, and ultimately choose the marketing strategies to get the word out.And then the rubber hits the road. You have to actually get out there and connect with potential clients through networking, speaking, an eZine, social media, emails, etc.For most, the bottom falls out of their marketing at this point. It simply goes nowhere, or more specifically it goes into the infamous “Random Zone” where things are done haphazardly and inconsistently.If people have worked to develop the whole foundation of their marketing first, know who their target market is, have put together a web site and have practiced their marketing and selling conversations, they are going to have more success.But even the well-prepared struggle with implementation.Why is putting action plans into action so hard? Here are three of the most common ones. Are they familiar to you?1. As soon as you start reaching out, you face possible rejection. What if your message, your talk, your emails fall on deaf ears? What if your potential clients could care less? What if they outright rejected your promotional efforts?We conjure painful mental images in our mind that stop us cold.For this one we need to work again on our mindset, on our thinking, realizing that if we reach out and people aren’t interested, that it’s not personal. They don’t hate us; either they are simply not good prospects right now or our message doesn’t have the impact it could.So reach out to new prospects and keep improving your messages.2. It takes way more time and effort than you ever thought it would. We think of marketing as a few promotional things we do here and there. This should be easy, we think. But it’s not.Time to do a reality check. Any marketing activity takes time, effort and commitment to make it work. Marketing is a bit of an art and nothing works perfectly on the first draft.You need to make detailed and realistic plans based on strategies that others have used successfully in the past. If you just make it up as you go along, your chances of success are very slim.3. It’s never good enough and although you might even know what you’re doing, you put off your marketing launches until everything is perfect… but it never is.What underlies this are beliefs about perfection, not being good enough and being judged by others. It’s not so much rejection you fear, but disapproval. What will others think of you?Well, if your marketing campaign isn’t relevant to those you are targeting, it’s not a big deal. They’ll just ignore it. They won’t think much about it at all. But for the ones that are looking for what you offer, they’ll not only be interested, they’ll respond.Your prospects are not looking for perfection from you; they’re looking for assistance and value. If you’ve got that, perfection is virtually irrelevant.I’ve done a whole lot of marketing action plans that were rejected by most people, took me a long time to implement, and were far from perfect. And most of them have made me hundreds of thousands of dollars!Marketing success is about know-how, value, commitment, and persistence. Everything else is just a distraction.The Fearless Marketer Bottom Line: There could be a lot of other things stopping you from following through with your marketing plan as well. The question is, where are you going to focus – on your fears and worries about rejection, time, and perfection – or are you going to focus on the value and difference you make and give your marketing plans a real chance?

Finessing the Financing – Navigating the Current Real Estate Buyers Market Part I

Every one is talking about the foreclosure crisis and the slump in the economy. With all the despair surrounding our Nations economy how is one to take advantage of this once in a lifetime buyers market?

Patience, persistence, negotiation, and creativity in financing will be a good point to begin with. For most people going to the bank and asking for a loan is the only way they know how but this series of articles will give you insight on how to finance a home without initially using the bank.

The techniques are legal and are in use by investors. We learned these techniques to be able to finance the deals we have put together for the person with less than stellar credit.

Financing, until recently, was not the barrier. People were being given sub prime loans and are now paying the price of the sub prime lending scam. The loans were legal but they were a disservice to people, this is why I’m calling sub prime loans a scam.

Sub prime loans take advantage of people who are, one not informed, or two who have less than perfect credit. The techniques that will be in this article will not be scams of the sub prime lending. These are techniques you can start using today to help you be in a house in less than thirty days.

These are not sub standard property’s that are involved in the techniques of this article although the same techniques can be used on the less than desirable home.

For many Americans a few blemishes on their credit can keep them from homeownership. Many have sought the services of the credit cleaners, but still a few things may stay due to the nature of the type of account or length of delinquency.

With a conventional loan comes conventional thinking. In our current time and economy there is a call for unconventional thinking on the part of buyers as well as sellers.

One creative technique would be to have a seller carry the financing for either the second mortgage, if the buyer cannot finance the entire amount. Or the seller could carry a first mortgage if the buyer is really having trouble with the bank. Loans like these will probably become more common as the banks begin to tighten the lending requirements.

According to many analysts lending is not as tight as it is going to get in the very near future.

Of course the seller would only hold the note for a short period of time, unlike a conventional loan, which would be for thirty years. The buyer’s mortgage would be for three to five years. At the end of the time period the buyer would find the financing for the remaining portion of the loan. By that time the buyer should qualify for a refinance of the loan.

This is only one of the many ways to finance a home creatively and legally without the buyer or seller losing anything but gaining everything.