Latest Finance News

Insurance is a wonderful financial instrument through which a person can create back-up plans in case of any unexpected happenings in their lives, which may be due to the fault of the insured or otherwise. Insurance is a perfect fall back option for an individual who has only himself to depend on in case they get embroiled in any sort of trouble, which could be of a financial nature or otherwise. It is a time tested way of protection provided by the system and is compulsory for every citizen and member of the system in one way or the other.

It is an essential part of any individual’s financial portfolio and and is no longer considered just as an piece of paper. It is looked on as more of an investment. An insurance is snow sold as a product and as an service through the company to the client. The whole scenario of the insurance market has changed when in the beginning their were companies like Life Insurance Corporation of India which for the first few decades had the whole market to itself but after the market Continue reading ‘Make General Insurance Your Guardian’ »

Recently, the governor of California, Arnold Schwarzenegger, signed the Assembly Bill 329 into law. This law contains many statutes which serve to protect seniors entering into a reverse mortgage. Commonly referred to as the Elder Protection Act of 2009, this law serves as an additional protection for seniors in order to ensure that they understand the reverse mortgage process and are entering into the agreement willingly.

One important safeguard that this law institutes is that the client receives an “Important Notice to Reverse Mortgage Loan Applicants.” This notice must be in 16-point type and emphasizes the complexity of the financial transaction. Basically, this statement discloses that a reverse mortgage is a loan against the equity in their home and that the applicant will be required to sign binding legal documents. This notice must be given to an applicant before attending loan counseling. Continue reading ‘California – Leading the Way in Reverse Mortgage Protections’ »

You cannot open the paper or switch on the radio without hearing stories and reports about the new opportunities that are opening up for reclaiming mis sold insurance protection.

Payment protection insurance was a device used by banks and credit card companies to generate huge profits. On the face of it, it provided cover in the event that the person taking the insurance, could not make repayments on the loan for reasons covered by the insurance.

It was standard procedure for a bank or card company extending credit to sell the insurance very hard indeed. If one considers that 90% of the profit on Continue reading ‘Mis-Sold Insurance Protection’ »

Payment protection can be done in three different ways such as:

Income protection insurance, mortgage protection insurance, and loan payment protection are part of the same insurance policy coverage.

When you are unable to go to work and need enough cash to run your house hold expenditure then payment protection will help you replace a sizable portion of lost job income. You may have been unable to attend to duty due to various reasons such as loss of job, accident, sickness or redundancy. It involves an income supplement of up to a certain percentage of the policy holder’s income and the provider’s set limits. Continue reading ‘What Does Payment Protection Coverage Entail?’ »

What is redundancy payment protection cover?

It is basically a protective cover to pay you a portion of your salary in case you are made redundant due to injury, sickness or have lost your job due to inevitable reasons. It will not cover you in case you have voluntarily stayed away from work.

Will this payment protection cover you for your mortgage payment?

This payment protection cover will cover your mortgage as well as your credit card bills if you are unable to go to work. Some times, there is a full payment of your monthly mortgage charges paid out to you. Continue reading ‘Faqs on Redundancy Payment Protection Cover’ »

Owning a home would be one of the top priorities and the first item on the wish list of anyone drawing a sufficient income in Ireland. Of course, they get relieved from paying a monthly rent albeit not in its entirety. Rent gets substituted with mortgage payments, the only difference in the latter being that the home would eventually be their own.

Continue reading ‘What is Mortgage Protection Cover?’ »