Work out a budget You may be tempted to take out as much cover as you can, but if you dont really need it, you may find you will be paying for something unnecessarily.Decide what age you wish to retire Most Income Protection policies will cover you until a particular age. In the event that you become ill, your policy will payout from when you are first ill until you have recovered. If you are unable to return to work due to your illness, the...more
By Lance Wallach, CLU, ChFC and Ira Kaplan, Esq., CPA, MBAOver the past decade, business owners have been overwhelmed by a plethora of arrangements designed to reduce the cost of providing employee benefits and taxes, while simultaneously increasing their own retirement savings. The solutions ranged from traditional pension and profit sharing plans to more advanced strategies.Some strategies, such as IRS Section 419 and 412(i)...more
Statutory audit preparation is critical, particularly at the corporate level. It's essential to have a full-spectrum statutory audit function in place at all times. Self insured businesses require a complete information system based on formal compliance criteria.Preliminary MeetingThe usual process for statutory audits involves a preliminary meeting between the regulator and the organisation to be audited.The meeting creates a format and working context for the audit and defines key issues such as:Providing a knowledge base for the audit program and explaining the compliance issues;Defining the audit functions;Identifying which areas of compliance and/or locations are to be audited;Scheduling the audit - Managing time frames, setting dates and specifying the audit functions to be carried out;Clarifying audit standards and required levels of information to be assessed.This meeting is a briefing, and is best practice for regulators, ensuring that audit subjects are fully informed of the regulator's requirements.Important: Senior managers should be present at this meeting if at all possible. If not, fully qualified senior level attendees must be substituted. Statutory audits can...more
Its what you work hard for all year. That precious week or two away. Now it is all booked and you cannot wait to get away. You have put the date on the calendar, although you are hardly likely to forget it. Maybe there is one thing that you have forgotten, and that is to buy some cheap holiday insurance.You should not think of travel insurance as...more
Home insurance includes building and contents insurance. These are two separate insurance policies that are often sold with each other. Buildings insurance provides cover for harm to the building. Contents insurance provides cover for contents within. Homeowners should have both. Renters only need contents insurance. Insurers typically offer them...more
Business owners can greatly benefit from having commercial insurance. This type of coverage helps a business in many ways, including protecting them from liability. If a product, service or contract goes wrong or causes injury to a client, liability insurance can help to cover the costs. This is essential if legal action is taken to court, because fees and any settlement agreements can quickly become very expensive.Personal property commercial insurance helps to pay for property damage and replacement in the event of a burglary or natural disaster. Fires, tornadoes and hurricanes can destroy or damage electronic equipment, by old so and office equipment. Without insurance coverage, these can be extremely costly to replace and can bankrupt business if no coverage is purchased.Another aspect of commercial insurance that a business owner should be aware of is workers compensation coverage. If an employee is injured on the job, the employer is responsible for providing the necessary medical visits and treatment. Medical bills can become very expensive as well as long-term treatment costs, which can be a huge burden for a business to bear without coverage. Workers...more
To some lawyers, the intricacies of maritime law can seem complicated. To the injured seaman, these laws might seem confusing and overwhelming. If you are injured or get sick while working on a vessel on or near a body of water, it...more
Choosing an auto insurance policy is often considered to be all about the price of the policy. Sure you want the best coverage you can, and you want to be sure that you will get reimbursed for the types of accidents that are likely to happen to you,...more
One of the most well known andcredible names in the health insurance industry is Aetna Insurance. Individuals who do not have the fortune to enlist in a group plan provided by their employer will likely find a plan that fits their...more
If you are in a situation right now where you know that you need health insurance and you are not having it provided by your employer, then you are going to want to begin shopping around. All too often what people will do is go for the...more
There are many different deals out there that offer low prices on travel to and from the UK. Many people will take advantage of last minute deals while others will plan ahead and be first in line of other low prices. Cheap holiday insurance is...more
Residents of the US Gulf Coast region are particularly wary of insurance issues after recent hurricane seasons have proven to be more destructive than usual. They are more careful about warnings, evacuations, protecting homes, and other issues that...more