Is Loan Payment Protection Insurance A Good Buy?

Loan payment protection insurance can be a great buy and it can provide a valuable safety net on which to fall should you find yourself out of work due to an accident, long term sickness or unemployment. The cover can provide you with a tax-free monthly income which enables you to pay your commitments without worry while you get back to work. The period of time you are usually covered for is typically up to 12 months, though with some policies it is up to 24 months, which is …
Income Protection Insurance, Mortgage Protection Insurance, MPPI, PPI
Loan payment protection insurance can be a great buy and it can provide a valuable safety net on which to fall should you find yourself out of work due to an accident, long term sickness or unemployment. The cover can provide you with a tax-free monthly income which enables you to pay your commitments without worry while you get back to work. The period of time you are usually covered for is typically up to 12 months, though with some policies it is up to 24 months, which is usually more than enough time for you to get back on your feet.

However the policy is only a good buy if you choose it carefully and wisely. Sadly the industry has been blighted by the negative publicity surrounding loan protection with the high street lenders being the main culprits when it comes to selling over-priced, sometimes unsuitable, cover.

If you want to protect yourself with loan payment protection insurance then you should shop around and go to a standalone provider. A specialist who only deals in payment protection will be able to offer you the cheapest premiums along with giving you the best advice regarding the policy. One of the biggest findings by the Financial Services Authority’s recent investigation into the sector was that policies were being mis-sold with the consumer having no hope of claiming on it should they actually come out of work. The majority of times the reason why the policy had been mis-sold was due to the exclusions within the policy which the consumer wasn’t aware of. High street lenders have very little knowledge when it comes to selling protection policies and this is why it is always safer to buy from an independent provider.

So, is loan payment protection a good buy? Yes it can certainly can be, but only by looking carefully at what the policy offers and determining if it is suitable for your needs.

Credit Protection Tips While Surfing The Internet

A person’s credit information is vital. If it reaches malicious hands, the identity of this person can be stolen and be used in ways that will eventually destroy that person’s credit and credibility. A person who does not protect his credit information can be easily victimized by identity theft.

In the good old days, credit protection is easy. There is only one thing to remember: do not provide financial information to a stranger unless that stranger is someone that can be…
credit protection, prevent identity theft, identity theft protection
A person’s credit information is vital. If it reaches malicious hands, the identity of this person can be stolen and be used in ways that will eventually destroy that person’s credit and credibility. A person who does not protect his credit information can be easily victimized by identity theft.

In the good old days, credit protection is easy. There is only one thing to remember: do not provide financial information to a stranger unless that stranger is someone that can be trusted. Thus, it is safe to give the social security number when applying for a driver’s license but it is dangerous to give that same number to someone who claims to be selling insurance policies through the phone.

Today, credit protection becomes complicated with the popularity of the internet. Thousands of internet surfers are careless in giving away information about their life. And the new internet users are simply trigger happy in clicking all kinds of links. They don’t realize how dangerous it can be when a person goes online.

However, there are simple and effective ways of dealing with cyber criminals who are out to steal identity. Every person must be familiar with these ways before they even begin to surf. Here are some examples of these credit protection tips.

• Physical Location – Any company that is selling an item and asking for credit card information must display the address of its physical location in its website. If it is the person’s first time to encounter such company, it is wise to first check if such physical location actually exists. If it cannot be found, then that company should be regarded suspiciously and credit card information should be withheld.

• Credit Reporting Agency – One important aspect of credit protection is credit monitoring. A credit reporting agency (CRA) can quickly identify, usually within a month’s activity, if a person’s credit information is being illegally utilized by another. In the United States, the three major credit reporting agencies are Equifax, Experian, and TransUnion. It is also a good idea to have one of these CRAs create a security watch so that the people who are obtaining credit information will be limited.

• Firewall Protection – As technology advances, the thief’s tricks of his trade also advances. The cyber-thieves have learned how to hack into a computer and steal information. The best way to ensure credit protection is to install a security system inside the computer. This security system must be constantly updated so that it will have the capacity to block off new strategies in hacking into a computer. If the computer’s security system is neither robust nor effective, it is recommended that a personal firewall is created. To be a hundred percent sure, a person should never store any personal credit information in his computer.

The internet is not the culprit when identity theft happens. The internet is just a tool, albeit a high-technology one. The real culprit is the thief which uses the internet. With the credit protection tips described above, a person can set up defenses against such thieves by also using the internet.

Cheap Mortgage Payment Protection Insurance The Easy Way

When it comes to taking out cheap mortgage payment protection insurance then there is an easy way to go about buying your policy and there is the hard way. The hard way is to try and secure the cheapest premiums for yourself by spending time searching with different providers, the easiest way is to go to a standalone provider who will in most cases, offer the cheapest premiums available.

A cheap mortgage payment protection insurance policy can be a lifeline if you should …
Income Protection Insurance, Mortgage Protection Insurance, MPPI, PPI
When it comes to taking out cheap mortgage payment protection insurance then there is an easy way to go about buying your policy and there is the hard way. The hard way is to try and secure the cheapest premiums for yourself by spending time searching with different providers, the easiest way is to go to a standalone provider who will in most cases, offer the cheapest premiums available.

A cheap mortgage payment protection insurance policy can be a lifeline if you should find yourself unable to work and lose your income. The lender will still want you to make your monthly mortgage repayments and if you haven’t the income then you could be left struggling to find the money to keep the roof over your head. You can get peace of mind and security with a mortgage payment protection policy, but cheap mortgage payment protection insurance can be hard to find unless you know where to look.

Mortgage payment protection insurance is designed to take over and replace your lost income if you should find yourself unable to work due to an accident, sickness or through unforeseen redundancy. The cover would give you a monthly tax free income with which to pay your mortgage and would normally start from the 31st day of being out of work in the majority of cases. Your plan would then continue to pay out for up to 12 months or with some providers for up to 24 months, which is more than enough time for you to get back on your feet and back to work.

Using a standalone provider will get you cheap mortgage payment protection insurance quickly and easily. But understanding of the product isn’t so great care should be taken when you are thinking about purchasing the cover, Be aware of the exclusions and small print in all policies and ensure that a policy is suitable for your circumstances.

Asset Protection for Real Estate Investors

The first 10 years of my real estate investing I ran my business as a sole proprietor because I really didn’t know any better. Luckily, I survived with only minimal damages, but there comes a point when it is time to assess the best legal structure to use for real estate investing.
Real Estate Investing Advice, Real Estate Investing Tips, Beginning Real Estate Investing
The first 10 years of my real estate investing I ran my business as a sole proprietor because I really didn’t know any better. Luckily, I survived with only minimal damages, but there comes a point when it is time to assess the best legal structure to use for real estate investing.

If you ask 10 experts you are likely to get 10 different opinions. With that in mind, I’ll share my opinion and experience. Remember: free advice is always worth what you pay for it.

If you are a beginning investor, it’s probably best to not worry about asset protection until you actually have a few assets to protect. Why spend time and money setting up a business entity and creating tax reporting requirements unless you need to? It’s like buying full coverage auto insurance on a beat–up Gremlin…what’s the point?

Once you have assets and something to protect, then it’s time to set up your business structure. Question # 1: what is your net worth? Question # 2: do you have assets that are at risk? If the answer to either of those questions is, “Yes,” then you need to take the next step.

Assuming you want to set up an entity for wholesaling properties, the most popular are an LLC (Limited Liability Corporation) or a C Corporation. There is much debate about which one is better, but I prefer the C Corporation because the first $50,000 is taxed at 15% and you can have a kick-butt employee welfare plan to write off many expenses. With an LLC, the income is passed through. If you start making money, you’ll wish you could pay only 15% on some of it! Trust me on this one.

Why is the tax issue such a big deal?

Here’s a simplified example. If you make $100K personally you are taxed on the full amount (35%) and have $65,000 left. Anything you buy for yourself comes from after-tax dollars. However, with a C Corporation if you could make the same $100K on paper, but have $50K in allowable expenses that you can write off. So you get taxed on that $50K at 15% and only have to pay $7,500 in taxes compared to $35,000 on your personal income.

What type of expenses can you write off in a C Corporation? It depends on how your Company is structured (see your accountant/attorney for details), but you can often write off basic expenses of things like a bed or even a swimming pool. You’re thinking, “No way!” Let me explain how it’s done. If you have an employee welfare plan that covers your medical expenses and your doctor gives you a prescription for aqua therapy, it’s possible to write off the cost of the swimming pool. Yes, it’s crazy, but I don’t make the laws. Another more common example is a prescription for a new bed if you have a bad back. I have a “Sleep Number” bed myself, just like Paul Harvey J.

A very wealthy man once told me “It’s very hard for a C Corporation to make any money!” What he was trying to illustrate was that C Corporations can expense pretty much everything and look like there is little or no profit. You still can buy the same stuff, but you are taxed less if you structure things correctly.

Check Out Uk Mortgage Protection Insurance Before Buying

It is essential that you check out UK mortgage protection insurance before you buy if you want to ensure that you have a policy to meet your needs and a quality product without paying over the odds for the cover. Historically, the high street lender will charge way over the odds for the cover when compared to the standalone specialist provider. Over the term of your mortgage this can cost you literally thousands of pounds.

UK mortgage protection insurance can help you to …
Income Protection Insurance, Mortgage Protection Insurance, MPPI, PPI
It is essential that you check out UK mortgage protection insurance before you buy if you want to ensure that you have a policy to meet your needs and a quality product without paying over the odds for the cover. Historically, the high street lender will charge way over the odds for the cover when compared to the standalone specialist provider. Over the term of your mortgage this can cost you literally thousands of pounds.

UK mortgage protection insurance can help you to continue repaying your mortgage if you lose your income through becoming unemployed; or suffering from an accident or an illness which keeps you off work for any length of time. Cover will usually begin to payout after a set period of time which can be anywhere between the 31st day and the 90th day after the event and would then continue for between 12 and 24 months which should be ample time to get well or find alternative employment.

You do have to realise that there are exclusions in all policies that can stop you from making a claim. Exclusions that are typical to most mortgage payment protection insurance policies include if you are suffering from an ongoing illness at the time of taking out the cover, if you are self-employed, of retirement age or if you only work in a part time position. The exclusions should be mentioned at the time of taking out the policy but the high street lender can be lax here, however a standalone specialist provider tends to be more ethical – as payment protection insurance is their core business – and will always make this information available in plain English.

It is the lack of information that causes so many problems with the sector and the Financial Services highlighted this in 2005 when they began an investigation into the payment protection industry following a super complaint from the Citizens Advice to the Office of Fair Trading. Several high street names received fines for unsavoury sales practices.

However in March 2008 it is hoped that a big change for the better will occur when the Financial Services Authority introduces new comparison tables which will make buying the product easier for the consumer. The table should make the product more transparent by asking the consumer a series of questions which will then point out which payment protection product is the most suitable for their needs along with highlighting the fact that there are exclusions in the policy and how much the cover will cost in total. Up to this point these have all been serious failings when it comes to selling payment protection products which have left the consumer confused about what they have actually bought and if it is suitable for their needs.

For the time being if you want the safety net that UK mortgage protection insurance can give then buy the cover independently from a standalone specialist provider who will not only be able to offer the cheapest premiums for the cover but also give you the advice you need to ensure a policy is right for your needs.

Protection: Slashing The Risk Factor Of Secured Loans

Loans in which the borrowers home is held as collateral, or secured loans, are very popular, and are often considered favourable because of the general ease of borrowing through secured loans. Secured loans are also sometimes known as Home Equity Loans or Homeowner loans. Those with a negative credit history often find secured loans to be the easiest way of borrowing money. Secured loans, however, are very risky, especially for those with a proven history of late or skipped p…
secure loans,
Loans in which the borrowers home is held as collateral, or secured loans, are very popular, and are often considered favourable because of the general ease of borrowing through secured loans. Secured loans are also sometimes known as Home Equity Loans or Homeowner loans. Those with a negative credit history often find secured loans to be the easiest way of borrowing money. Secured loans, however, are very risky, especially for those with a proven history of late or skipped payments. Even the term secured loans is somewhat deceiving, as the security really belongs to the bank or lending institution, and not to the borrower. Any person borrowing money through secured loans runs the risk of losing his or her home in the case of any situation that renders the borrower incapable or repaying secure loans according to schedule.

Those with adverse credit should carefully assess their needs, spending habits, and repayment abilities before applying for secured loans. If there is no other option than to pursue secured loans, borrowers would be wise to try to find a very easy repayment plan that is suitable to their financial state.

Many borrowers are rather wary and even afraid of secured loans. This unease regarding secured loans is not entirely unfounded, and a wise borrower will look into alternative options before pursuing secured loans. However, there are ways to reduce the risk involved with secured loans, and one of these is arranging a payment protection plan.

Secured loans can usually be granted with the addition of some type of payment protection plan. These payment protection plans for secured loans are basically a type of insurance. The premiums are added to the monthly payments that borrowers make on secured loans. Then, in the case of sickness or accidents, the borrower is not held responsible for repaying the amounts borrowed through secured loans.

Payment protection on secured loans is generally a wise idea, because a person never knows when he or she may run into some type of trouble. Because secured loans are so risky to the homeowner, some type of insurance such as these payment protection plans, offer an ease of mind to anyone who is borrowing through secured loans.

The loss of a job is also something that the payment protection plans of most secure loans cover in some form. In todays world, when no one can be absolutely sure what will happen with regards to their employment, the risk of secured loans are lessened with the addition of payment protection plans.

In some cases, payment protection plans can actually be a benefit to the borrower after secured loans are paid. Many times, lenders will actually return the amount paid through the payment protection plan. In one sense, people can actually make the most of their secured loans by using the payment protection plan as a type of investment.

Overall, as a general rule, if people plan to take out secured loans, they would probably be wise to purchase some type of payment protection plan as well.

Seven Simple Identity Theft Protection Tips

Identity theft is quickly becoming a worldwide epidemic. The latest statistics reveal that the largest majority of victims are aware of the crime within 30 days; over 25% don’t discover it for six to twenty four months. It is up to all of us to become aware and use identity protection tips to prevent the spread of this crime.

Some of these tips seem to be common sense, and might be things that you are already doing. Others might be tips that you have heard already, and th…
identity theft protection, identity theft protection tips
Identity theft is quickly becoming a worldwide epidemic. The latest statistics reveal that the largest majority of victims are aware of the crime within 30 days; over 25% don’t discover it for six to twenty four months. It is up to all of us to become aware and use identity protection tips to prevent the spread of this crime.

Some of these tips seem to be common sense, and might be things that you are already doing. Others might be tips that you have heard already, and thought about following, but have not started yet. Today is a good day to start protecting yourself from identity theft. Here are seven identity theft protection tips to get you started.

1. Protect your social security number. Never give it out on the internet, and don’t have it printed on your checks. If your health care plan uses your social security number as your membership number, ask them to replace it with a different number.

2. Don’t fall for phishing emails. These emails appear to be from legitimate businesses, such as banks, credit card companies, or EBay. They ask you to reply with your credit card information, or your social security number to correct the information in your account. If you think it might be legitimate, telephone the institution, and verify it. Don’t reply to the email, or click any links in it.

3. Shred, or tear up any pre-authorized credit card offers that you receive in the mail, and don’t want to accept. Also, tear up or shred any papers with your personal information that you are going to throw out.

4. Protect your personal information on your home computer. Use passwords with at least eight characters, and a combination of letters, numbers and symbols. Make sure your firewall is enabled, and your virus and spy ware protection software is up to date.

5. When you are shopping online, take a minute to read the privacy policy on the web site before entering your credit card information. If there is no privacy policy posted, shop elsewhere. Only enter your payment information on secure sites that have a web address that begins with https, and has a padlock symbol in the bottom corner of the browser screen.

6. Check your bank statements and credit card bills as soon as they arrive. If you don’t receive your statements, contact the financial institution immediately. Identity thieves will change the address where the statement is delivered to avoid being caught.

7. Check your credit reports and monitor your credit history. You can get one free credit report each year from each of the three national credit bureaus. You can order a report from a different bureau every four months to monitor your credit.

Use these identity theft protection tips to prevent being the next victim of this crime. Share them with your family and friends to help them stay safe and avoid the turmoil of becoming the next victim of identity theft.

Tips On How To Choose Mortgage Protection Insurance

The world of mortgage protection insurance can be extremely confusing when an individual is looking to take out a policy. Although there has been very little competition in the marketplace in the past few years, there are now a number of providers looking to attract homeowners to their mortgage protection insurance products and services.

However, there has been no form of education for the average homeowner as to how mortgage protection insurance can help protect their ho…
Income Protection Insurance, Mortgage Protection Insurance, MPPI, PPI
The world of mortgage protection insurance can be extremely confusing when an individual is looking to take out a policy. Although there has been very little competition in the marketplace in the past few years, there are now a number of providers looking to attract homeowners to their mortgage protection insurance products and services.

However, there has been no form of education for the average homeowner as to how mortgage protection insurance can help protect their home in the future and what to watch out for in certain policies.

In fact, there is still little information concerning the differing mortgage protection insurance policies out there. Choosing an effective mortgage protection insurance policy is not about settling for the first provider you come across, but rather should be about seeking out the best possible policy for you!

The first things that you should do when looking for a mortgage protection insurance policy is gather information about the companies that you consider worthy of your business. Some high street providers’ attitudes will be well documented, but independent standalone mortgage protection insurance providers will not. It is essential that you research them all before looking at the mortgage protection insurance product that they offer.

When you have a list of providers that you would trust with your business then you need to look at the individual mortgage protection insurance products themselves. Highlight the terms and conditions of every single policy and compare them. Which one would give you the most value for money? Which mortgage protection insurance exclusions would you be most likely to fall foul of?

Be sure to get mortgage protection insurance quotes so you can fully compare the value of individual policies on a like-for-like basis. Compare all areas of the individual mortgage protection insurance products on offer and you will not go far wrong, but failing to look at them in depth could cost you dearly.

Is Payment Protection Worth It?

PPI can be worthwhile if you can afford the payments and you have a low balance. However, if you are self-employed and need to save money, then PPI is something you can usually do without.
credit cards,balance transfers,cash back,advice,purchases,news,credit cards uk,visa,mastercard
If you have a credit card, then you will have been offered payment protection insurance to go with it. You may or may not have taken the insurance, or it may have been included in your charges without you knowing. Many people have payment protection, but are unsure of its costs and benefits. Payment protection can be useful, but it is also expensive and only worthwhile if you really need it. Here are some hints and tips to help you decide if payment protection is worth the money you pay for it:

What is Payment Protection Insurance?

Payment Protection Insurance, or PPI, is a type of insurance policy for credit cards. The policy covers your payments should you have an accident or illness or lose your jobs. The idea is that if you cannot pay your bill through no fault of your own, then the insurance will cover your payments. However, there are a number of pitfalls with such insurance, apart from the fact that it is usually quite expensive.

Limited pay out period

One problem with PPI is that it only pays out for a certain amount of time. If you have a serious illness and cannot pay for months or years, then this insurance cannot help you. The usual maximum payment period is a year. However, the way the debt is paid off by the insurance should mean you are debt free after this period.

Hidden costs

One of the main problems with PPI is its cost. PPI usually costs 70 or 80p per Ј100 outstanding balance. This means the cost is very high when you owe a lot of money, but you often don’t realise this because the large numbers involved hide the charges. Also, if you pay by Direct Debit each month, by the time you have tried to claim the bill might have already been paid by the debit.

Rarely pays out

Another issue with PPI is that the amount you area actually covered for is very small. You often pay for things that are of no relevance to you. For example, if you are self-employed you cannot claim for most of the unemployment cover, but you still pay for it. If you are going to get PPI, then check to make sure that you have the cover you really want and that the policy is useful for you.

Other options

Due to the problems with PPI, it pays to look at the alternatives. Obviously, one alternative is to not have PPI at all. It costs you money, especially if you have a large balance, and gives you few benefits. However, the best alternative to PPI from credit card companies is to get a policy from an independent company. These PPI policies are usually a flat rate of only a few pounds, and will give you cover in case you need it for much less money.

PPI can be worthwhile if you can afford the payments and you have a low balance. However, if you are self-employed and need to save money, then PPI is something you can usually do without.

What Is Mortgage And Life Protection Insurance?

Mortgage and life protection insurance which is also known as a mortgage protection plan does just what its name suggests. This type of policy will enable your loved ones to pay the mortgage should you die before it is paid off.

However it does more than just pay out should you die immediately. If you take out this type of insurance you will be covered if you happen to be diagnosed with a terminal illness from which you aren’t expected to live for more than 12 months.
Th…
mortgage insurance, mortgage protection insurance, uk insurance
Mortgage and life protection insurance which is also known as a mortgage protection plan does just what its name suggests. This type of policy will enable your loved ones to pay the mortgage should you die before it is paid off.

However it does more than just pay out should you die immediately. If you take out this type of insurance you will be covered if you happen to be diagnosed with a terminal illness from which you aren’t expected to live for more than 12 months.
The policy may also pay out if you have taken optional cover for critical illness and are diagnosed with a critical illness which is covered by your policy. If you have taken the option for permanent disability and the worst should happen and you become permanently disabled, then you will also be covered.

The mortgage protection plan (not to be confused with mortgage payment protection insurance) works slightly different to the level payment protection plan in that the amount which it pays out decreases the longer you have the plan. This is the type of plan which would most suit those who have taken out a repayment mortgage. It wouldn’t benefit those who have an interest only mortgage.

While the cover reduces the longer you have the policy, there is always enough cover to cover your mortgage.

Insurance of this type can be taken out jointly or singularly depending on the circumstances and there is no cash in value on this type of policy.

As always, there are exclusions as with any insurance policy and you should make sure you understand the terms that are laid out in the policy. Shopping around can help you to get a cheaper deal due to premiums varying widely from company to company. Getting online quotes from as many companies as possible before narrowing down your choice is essential to getting the best deal and value for your premium.

Many policies of this type will also include free accidental death cover, so when assessing premiums this is one factor to take into account. What this cover means is that from the time you make your application to you either being declined or accepted, if you should have an accident which results in your death up to 90 days later, then you are covered anyway.