Monday, October 31, 2016

2016 Car Insurance Rates Rankings by State

2016 Car Insurance Rates Rankings by State, vehicle insurance, car insurance
The state with the most expensive car insurance premiums in 2016 goes to Michigan, they bag the top spot for third year in a row in the Insure.com’s 2016 state-by-state comparison of auto insurance premiums. Michigan average car insurance premiums is at $2738.
The 2nd spot goes to Montana at $2297, while New Jersey is in third with $1905.

Friday, October 28, 2016

Donald Trump Health Care Reform Plan ( TrumpCare )

Donald Trump Health Care Reform Plan, Trumpcare, care
Donald Trump has repeatedly promised that he will not let people die on the streets. Today he has released his Trumpcare health care reform plan. His aim is to broaden the access of health care to the people. He is also for abolishing the individual mandate, which under Obamacare requires all Americans to have health insurance.

Donald Trump laid out his plan to reform the U.S. health care system after repeatedly pledging to repeal and replace Obamacare with something much better.

Wednesday, October 26, 2016

World's Largest Economies by 2020

World's Largest Economies, economy, finance, business


Check out how the world's largest and fastest growing economies change over time from 2008 up to 2020. China is growing by leaps and bounds while the front runner the United States are steadily growing. By 2020 US GDP is estimated to grow to $22.5 trillion while China is estimated to grow to $16.2 trillion. At 3rd will be Japan at $4.9 trillion, 4th is Germany at $4.1.

Tuesday, October 25, 2016

Most Americans Don't Budget According to a Survey

financial planning, budget, finances, money management, debt

The National Foundation for Credit Counseling (NFCC) recently published a survey about the Consumer Financial Literacy. The 2014 Financial Literacy Survey that was conducted by Harris Poll online last March, gives us an idea of American consumer's degree financial literacy. It also identifies their behavior and attitude towards trends that is linked to personal finance.

More than 2,000 American adults ages 18 and above took part of this survey, that was sponsored by Experian Consumer Services.

Check out the Key Findings from the NFCC 2014 Consumer Financial Literacy Survey:

Budgeting and Debt:
  •  61% of the respondents admitted that they don't have a budget, the highest percentage in six years.
  • 1/3 or 34% of US adults indicated that their household carries credit card debt from month-to-month. It was also reported that about 15% or more than 35 million US adults admitted that they roll-over $2,500 or more monthly.
  • The proportion of adults who are spending less when compared to last year continues to go down. As you can see on the infographic in 2009 it as at its highest at 57%, it declines annually, it stand at its lowest at 29% in 2014.
Savings vs. Spending:
  • 16% of Adults in the US, worries about having not enough "rainy day" savings.   
  • 16% of Americans also worries about retiring without having enough money set aside.
  •  32% of Americans still don not save any portion of their yearly income for retirenment.

Credit Reports and Scores:
  • 65% of US adults have failed to review their credit reports within the past 12 months.
  • 60% of US adults have not reviewed their credit score.
  • 21% or about 1 in 5 US adults are not at all sure about what types of information are included on a standard credit report.
Survey Confirms the need for Financial Education:
  • 41% of US adults gave themselves a grade of C, D or F in grading their knowledge of personal finance.
  • 21% of them said that if money could talk, they think their money would say "I'm smaller than most of my friends."
  • 73% or 3/4 of US adults agree that they could benefit from financial advice from a professional.
April is the Financial Literacy Month and it is a good reminder for Americans to check their credit report and credit scores since credit knowledge is a very critical part when it comes to understanding personal finance.

Monday, October 24, 2016

Flood Insurance Policy: Tool to Estimate Flood Damages to your Home

Estimate Flood Damages, flood, flooded home, flood, water damage

With the recent extreme weather condition that battered the country a lot of homeowners have to deal with flooding. Officials from the Federal Emergency Management Agency have repeated over and over, pitching flood insurance to homeowners.

If your house got flooded, usually there is a 30-day waiting period on most flood insurance policies, so you should really have one in place already. If you’re right on the water and you don’t have a mortgage, you should probably get flood insurance to cover yourself.

Saturday, October 22, 2016

Aetna Backs out on Obamacare Health Insurance Plans in 2017

Aetna Obamacare, Obamacare fail, Obamacare costing billions
Like a sinking ship, health insurer are jumping out of the Obamacare titanic. Aetna Inc, 3rd biggest health insurer in the U.S., announced Monday that because of continuous financial losses on Obamacare plans, they will limit their market on individual insurance on the government-run online marketplaces in only (4) four states next year, instead of their current 15 states. This is the latest blow to Obamacare. The will stop offering policies on the exchanges in 11 states. They will keep selling Obamacare products in Delaware, Iowa, Nebraska and Virginia.

California Legislature approves $15 minimum wage increase, will be highest in the US

California wage raise increase, $15 minimum wage
California lawmakers approved a sweeping plan on Thursday raising the minimum wage to $15 an hour over the next six years. This will be the nation’s highest statewide minimum wage and it will take effect by 2022.

Thursday, October 20, 2016

What To Do With Your Tax Refund?

You get tax refund when you overpaid the government it's not a bonus money since you earned it through hard work. After filing your taxes you'll find how much refund you're gonna get. 

Wednesday, October 19, 2016

Ride-hailing Insurance For Uber, Lyft and other Transportation Network Company (TNC) drivers

uber, TNC, grab, lyft, taxi
If you are an Uber, Lyft and other Transportation Network Company (TNC) driver you'll need more than your personal auto insurance because there are gaps in the coverage.

Saturday, October 15, 2016

How To Choose A Life Insurance Plan In Nigeria

Life Insurance is all about protecting your future and that of your family/dependants. Life Insurance nowadays is more fashionable because there are many products that involve benefits being payable even before death. There are products for family, kid’s education, capital accumulation, thrift savings plan and so on.

Thursday, October 13, 2016

UnitedHealth May Ditch Obamacare

UnitedHealth May Ditch Obamacare, ACA, Healthcare law
Despite of UnitedHealth Group Inc. efforts to cut down on sign-ups their 2016 Affordable Care Act exchanges enrollment has surge and this caused the company significant losses.

UnitedHealth, which is the biggest U.S. health insurer said, they are expecting losses of more than $500 million on its 2016 Obamacare plans, compared with previous projections that amounted to $400 million to $425 million in losses.

Toyota Recalls 3.37 million Vehicles for Defects

Toyota Prius Recall, Toyota recall, Toyota defects, car defects
Toyota announced on Wednesday that they will be recalling 3.37 million vehicles worldwide to fix defects, this is the latest troubles for a Japanese auto industry hit by fuel-efficiency scandals and an exploding airbag crisis.

Wednesday, October 12, 2016

Smartphone Insurance 101

Smartphone Insurance, insurance, cellphone protection
Smartphone are expensive and easy to lose, break or stolen, this is why smartphone or cellphone insurance is in demand nowadays. Smartphone insurance covers lost, stolen or damaged phones. 

Insurance Companies Join the Fight Against Opioid Epidemic

Opioid addiction, health insurance, insurance companies
Health insurance companies are now joining the fight against Opioid addiction. Cigna, a health insurance firm that insures about 14 million Americans, is the newest major health insurance provider to fight the staggering opioid addiction numbers and deaths. 

Tuesday, October 11, 2016

Homeowners Needs to Take Another Look At their Insurance Coverage As Hurricane Season Starts

Homeowners, insurance, homeowner insurance, coverage
Homeowners needs to reexamine their insurance coverage annually, specially those who live in places that are heavily affected by tropical storms. 

Sunday, October 9, 2016

Millennials Prefer to Rent but Pass on Renters Insurance

Renters Insurance, insurance, finance, money, personal finance
According to a survey published on insuranceQuotes, Millennials prefer to rent homes, and most of them don't like to get renters insurance. Even though that coverage is not expensive, and having non could cause a huge financial hardship.

Hillary Clinton's Plan Against Ballooning Student Debt with $16 a month

 student loan, personal finance, debt, student debt, Hillary clinton, Killary clinton
studet loan

Hillary Clinton's "debt-free college plan" include the imposition of a 3 months moratorium on federal student loan payments through executive action.

"With dedicated assistance from the Department of Education during this moratorium, borrowers will be able to consolidate their loans, sign up quickly and easily for income-based repayment plans, and take direct advantage of opportunities to reduce monthly interest payments and fees," she said.

Implied though not plainly expressed in those "opportunities" are other elements of her college plan, that will cover the ability for borrowers to refinance their student loans at current rates and interest-free loan deferrals for aspiring entrepreneurs. Borrowers who are behind on debt would also get help during the hiatus to rehabilitate their loans.

Financial planner Evelyn Zohlen president of Inspired Financial in Huntington Beach, California said that the 3-month moratorium has a better possibility of coming into fruition than the "tuition-free education at in-state public colleges for families earning as much as $125,000 or less" because it does not need the cooperation of Congress or a major funding initiative.

"It's allowing people to take advantage of programs already in place. The only people quote, unquote hurt are lenders, who may not see as much profit if people refinance to lower rates."

People who are unable to pay their student loan are growing more than 33% of the borrowers have been late on a payment at least once in the past year, and 25% were late more than once based on the report of the Financial Industry Regulatory Authority Investor Education Foundation's 2015 Financial Capability in the United States.

Even though they are struggling to pay, a lot of millennials don't care about their loan management options. Based on a survey released by Citizens Bank, millennials do not have an idea on what they owe on their student loans, the interest rate they are paying, when will they be able pay it or whether college was worth it. On average, graduates owed about $41,000 in student loans.  A shocking 60% millennials of the surveyed said they have no idea when their loans will be paid off and more than a third don't even know the interest rate they are paying, the report said.

Mark Kantrowitz, vice president of strategy for Cappex.com said that "You don't need Clinton's 3 months moratorium to switch repayment plans into income-based repayment. It takes just a few minutes."

Troubled borrowers may be entitled for one or more of the 7 alternative repayment options:

1. Standard Repayment Plan - it requires that you make fixed monthly payments of at least $50 for up to 10 years.
2. Graduated Repayment Plan - Your payments start low, and increase every two years. It will still be paid off within 10 years.
3. Extended Repayment Plan - repayment window for this plan is up to 25 years. You have the option of setting fixed monthly payments, like with the Standard Plan, or increasing them over time.
4. Income-Based Repayment (IBR) - Monthly payments are capped at 15% of your discretionary income, and readjusted each year based on your income and family size for up to 25 years.
5. Pay As You Earn Repayment (PAYE) -      Monthly payments are capped at 10% of your discretionary income, and readjusted each year based on your income and family size.
6. Income-Contingent Repayment Plan - Payments, made for up to 25 years, are based on your adjusted gross income, family size and the amount of your loans. Your payments change as your income changes.
7. Income-Sensitive Repayment Plan - Your monthly payments are based on your annual income.
  
Each of the plan has pros and cons. Just remember a longer repayment term not only lengthens your payment commitment, it also means you'll pay more overall. If you refinance your federal student loans into a new, private loan. I will come at the price of losing federal protections to postpone payments in times of financial hardship.

Also if you cut your loan rate it may not lessen your monthly payment that much. In Clinton's proposal, for instance, estimates that borrowers refinancing into new loans at current rates would save the typical borrower $2,000 over the life of their loan.

"Divided by 120 payments, and that's $16 a month," Kantrowitz said. So She's proposing puny "A free pizza a month."

student loan, personal finance, debt, student debt,


Car Insurance Rates Shoot Up Because of Pokemon Go Popularity

Pokemon, car insurance, Pokemon accident
Pokémon Go is a free-mium location-based mobile game developed by Niantic for iOS and Android devices, it contains some but not all aspects of an augmented reality game. It uses the  GPS and the camera of compatible devices. Players can capture, battle, and train virtual creatures, called Pokémon, who appear on device screens as though in the real world and that's where the problem lies this can harm the player specially if they are on the road or driving.

Top 20 Insurance Brokers in the U.S.

insurance Brokers US, US insurance brokers, top insurance brokers in the US
The Business Insurance magazine have listed the top 100 brokers in the country they are ranked based on the 2015 brokerage revenue generated by U.S.-based clients.

Disability Insurance What You Need to Know

Disability Insurance
Disability Insurance or sometimes called DI, disability income insurance, or Disability Income protects the insurers earned income against the risk of disability. It would pay a portion of your salary, creating a safety in case of illness, disability or accidents that render the individual unable to work.

Wednesday, October 5, 2016

Gov't Try to Fix Obamacare with Big Changes

Obamacare, ACA, health care act, health care law
The Obamacare or the Affordable Care Act has been hit with some major setbacks as big health insurers like Aetna are pulling out of the public exchanges, also some  regulators have said that the exchanges is collapsing due to increases in premium prices and the dwindling number of insurers.

Car Insurance Sold at Dealerships are Overpriced and Substandard

car dealership, car insurance, vehicle insurance
A new study found that consumers shelled out $1.6 billion in insurance premiums and they have been duped into getting an expensive, poor value insurance products that provide them with little or no benefit, according to the Australian Securities and Investment Commission (ASIC).

Hillary Clinton Lost 2016 Presidential Debate to Trump

debate, Donald Trump, Hillary clinton