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5 Different Types of Insurance That People Should Own

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Unexpected emergencies can happen unannounced to anyone. However, it is possible to protect oneself and the loved ones from the worst impacts of the financial crisis. There is an extensive range of insurance policies available. However, no one likes to spend more than they need to.

Selecting the right insurance type and the right amount is dependent on an individual’s specific situation. Different factors like age, lifestyle, employment benefits, children, etc., play a crucial role.

In a nutshell, the financial experts suggest 5 must-have insurance for everybody. Read on to know them!

5 Must-Buy Insurance Types for Everybody

1. Auto insurance

Despite significant improvements in road and auto safety, the number of deaths in traffic accidents is alarming. So, it is the most important insurance that everybody requires to have.

Auto insurance helps you in several ways:

  • Cover the expenses resulting from an accident
  • Safeguards against litigation resulting from an accident
  • Protects vehicle against natural disaster, vandalism, or theft

However, the cost is determined by your specific circumstances like every other insurance. To get the best policy, compare rate quotes and coverage options of several policies. Additionally, check out regularly whether or not you qualify for lower rate insurance depending on your driving record, area, or age.

2. Life insurance

This is must-have insurance for those whose family is entirely dependent on their salary as it provides for a family in case of your unexpected death. The experts suggest a policy that pays around 10 times your yearly salary. However, everybody can’t afford such costs.

To calculate the amount of life insurance, consider factoring in these:

  • Funeral expenses
  • Mortgage payments
  • Outstanding loans
  • Credit card debt
  • Taxes
  • Child care
  • Future college costs

Typically there are two types of life insurance:

  • Traditional whole life: It can be used as an income tool and an insurance tool as well. As long as you keep paying the monthly premiums, it covers your life until death.
  • Term life: This type covers you for a set period. 

3. Indemnity insurance 

This is a must-buy coverage for professions like doctors. It gives the coverage from third-party claims and financial losses under professional risks, including:

  • Incorrect treatment
  • Negligent misdiagnosis
  • Malpractice
  • Legal defense costs
  • Claims for compensation
  • A third party bears damage
  • Breach of confidentiality
  • Injury

When the costs associated with litigation and patients’ expectations for compensation are too high, the professional indemnity covers your finances as an experienced doctor.

The investment made in this policy ensures the finances are protected. You get to carry out your business smoothly. In addition, you don’t have to worry about cash flow constraints. We suggest you explore tailored and flexible indemnity insurance covers from insurance specialist Tego.

4. Long-term disability insurance

As per the statistics, 1 of 4 workers entering the workplace will become disabled and won’t be able to work before even reaching the retirement age. So, it is must-have insurance for workers.

Several employers offer long and short-term disability insurance that is a part of their workers’ benefits package. It is the ideal way to get affordable disability insurance.

However, if your employer doesn’t provide a long term policy, keep in mind these things when buying it all by yourself:

  • Check out a policy that guarantees income replacement or around 40-70 percent of your salary.
  • Disability insurance cost depends on different factors. However, the average cost is around 1-3 percent of one’s yearly earnings.
  • Read the final print before you decide to purchase the insurance policy.

5. Health insurance

The next must-buy is medical insurance. It gives you the reason to visit the doctor for annual wellness checkups or occasional illnesses. Also, there is no chance of getting stuck with a huge bill when you or your beloved ones meet an accident or develop a chronic disease.

However, if your budget is very tight, consider purchasing a minimal policy; it is better than none. Additionally, the best and the most affordable solution is to purchase your employer’s health insurance programs.

The Bottom Line

The industry experts suggest life, health, indemnity, auto, and long-term disability be the must-buy 5 insurance for everybody. The best and the most affordable way to purchase them is through your employer coverage. If the employers don’t provide one or two of them, then get quotes and compare the best rates from different providers.

Money

How PayPal Are Helping to Tackle Problem Gambling

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Users of PayPal are used to some of PayPal’s measures to keep their purchases safe and secure, but not all are aware that they can help with protecting your spending in other ways too. Earlier this year the international payment processor introduced GamBan. The idea behind the software is to give users in the US and the UK the option to be able to stop gambling transactions on their smart devices.

The Protection of Gamblers

Both the UK and the US take gambling seriously, especially in regard to the protection of vulnerable gamblers. Taking part in games at online casinos and placing sports bets is something that should always be fun, however, for some, it can become an issue. Spending more than you can afford to on betting or having it take up a majority of your day is not something that anyone would encourage. Online gambling platforms are encouraged to look for signs that people might be gambling irresponsibly and to take steps on their platforms to ensure that they promote responsible gambling wherever possible. There are different ways that companies can work with their users to help protect them, but the introduction of software such as GamBan is a great idea too.

What is GamBan?

Available on laptops, PCs and smart devices GamBan is a piece of software that is designed to stop those that have signed up from accessing online gambling platforms. The software is able to stop browser access via devices as well as casino apps on smartphones on both iOS and Android.

GamBan itself is not new; in fact, it has been around since 2015. It now works in conjunction with GamStop in the UK. GamStop is a non-profit charity that helps to tackle gambling problems throughout the UK. In general, GamBan is a pay-for-service, with options to pay either monthly or annually. However, those that are accessing GamStop services for help within the UK with problem gambling are able to get free access.

The software itself is intuitive in knowing what websites and apps it should block access to. It works on a filter system of keywords, so if there are any words relating to betting, gambling and/or casinos then access to the platform is automatically blocked. On top of that those that are signed up to the software can add any links, they want manually, so if there are websites they know they would like banned they can do this too. GamBan also has its own list of websites and casino providers that are automatically blocked by the software. The hope is that people who are problem gamblers won’t be able to play at a PayPal casino if they have GamBan installed on their computers and/or smartphones.

What Part Does PayPal Play in This?

With gambling on the increase in the UK and the US PayPal has decided that it is time to take action and do what it can to help gamblers in the two countries. With payment options varied across these online casino platforms, many of them now offer PayPal as a payment option; which could be what has driven PayPal to get involved.

PayPal recently launched a new exclusion tool which allows users in the UK and the US to use the optional blocking feature – meaning that payments to gambling platforms would simply be denied.  Currently, anyone with a PayPal account in either of these countries can opt to have the software added to their PayPal account.

Once the software is in place all payments to online casinos, sports betting websites, lotteries and any other gambling category will be banned from that PayPal account. It is thought that preventing easy access to gambling websites and making it hard for payments to be made will help to reduce the chances of people taking part in gambling that they really should not do.

How Does The Gambling Industry Feel?

The gambling industry in general is used to organisations such as the UK Gambling Commission putting measures in place to make gambling harder for groups of people. There is a Government whitepaper that has been in the works since 2020 which looks set to discuss things like gambling VIP schemes and sporting event sponsorships, which could make things even harder for some users. The whitepaper is designed to stop the encouragement of betting for those that can’t afford it – for example by removing schemes where people can get access to better games if they spend a certain amount on a platform.

Although the gambling industry obviously benefits from users spending as much on gambling as possible, none of them wants to see problem gambling hitting the headlines. After all, it is important for people new to online gambling to feel safe and not as though they are being dragged into a hobby that is going to cause them issues later down the line. By promoting responsible gambling and encouraging the use of these tools they are helping give users peace of mind that stepping away from gambling will be easy if they ever need to in the future.

The Future of Gambling Tools

Both the UK and the US already have a number of tools available to those that want to make gambling harder for themselves to access. GamBan is available on a number of payment provider platforms including PayPal and Neteller. There are also various online and offline support services that are already in place for those that feel they need to access some support for problem gambling. Although no one can say for sure what tools the gambling industry is likely to see in the future when you consider what is already in place it is easy to see that there are already plenty of support services in place for those that need them. The gambling industry is likely to continue to embrace these and you may even see similar tools rolled out to other countries as the problem of vulnerable gamblers is tackled worldwide.

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Should You Play Online Slots with Crypto or Fiat Currency?

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The introduction of blockchain technology opened up plenty of new opportunities for many industries, and it seems like the betting industry got the biggest overhaul. Nowadays, there are plenty of online casinos that offer a chance for people to gamble using cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more.

But why would people choose to bet crypto instead of traditional fiat currency which was the foundation of this industry for centuries?

Well, the increased number of people proffering cryptocurrencies for gambling suggests that there are many benefits that come with cryptocurrencies in gambling, and people are not using them blindly.

How Cryptocurrencies are Used in Gambling

Cryptocurrencies might look very similar to traditional fiat currency as a form of payment, but the truth is, they are very different. First of all, cryptocurrencies are built on top of a decentralized blockchain network, and each cryptocurrency is built in a different way.

Cryptocurrencies are basically code written on a blockchain that defines different rules of engagement that limits the ability of one cryptocurrency. This means cryptocurrencies are different from one another.

Some currencies are designed in a way that the code encourages people to spend the cryptocurrency, and others are more like a store of value, that people wouldn’t want to spend today.

But what are the actual benefits in general that come from cryptocurrencies and why do people consider them to be a superior option over traditional fiat currencies?

Let’s find out all the benefits that come from using them in online slots.

Benefits from Using Cryptocurrencies in Online Slots

There are a number of benefits that come from this new way of making online transactions, and here are some of them.

Anonymity

One of the biggest benefits that come from using cryptocurrencies is anonymity. Unlike traditional currencies, which require you to link your bank account, with all your personal information, cryptocurrencies allow people to stay anonymous while gambling.

When depositing crypto in your casino account, you can only link your digital wallet address, and you are not required to enter your name or any personal details.

With that said, this doesn’t mean that they are 100% anonymous. In fact, they are linked to a third-party digital wallet, where you have all your information, and all transactions are recorded on the blockchain, which means that transactions can be traced back to the owner of the wallet.

Bypass Geo-Restrictions

Online gambling is on the rise at the moment, but even though this industry took a huge leap forward, there are still some places in the world where it is not allowed to gamble in online casinos.

Additionally, some people from certain regions might face difficulties depositing some money in their accounts due to the unavailability of payment getaways.

Since cryptocurrencies are global payment methods, they cannot be geo-restricted in any way. This means that everyone in the world can open their digital wallet and transfer the amount of crypto desired for gambling to any place in the world.

Transaction Speed

The biggest reason why people choose cryptocurrencies when playing online slots, rather than traditional fiat currencies is because of the transaction speed. The banking system feels outdated just because it can take 2-5 working days and sometimes even more if there is a bank holiday to withdraw your money to your bank account.

This is very inefficient, especially when we compare it to crypto transactions that happen in minutes. If we take Bitcoin, for example, each transaction block takes an average of 10 minutes to complete, and other cryptocurrencies have even faster times.

Availability of Games

Another reason why people decide to use cryptocurrencies for gambling is because of the type of games that are available at crypto casinos. Since this new gaming sector is booming in popularity at the moment, game developers are constantly working on creating new and fun-to-play crypto casino games that are only limited to digital currencies.

This means that in order for people to play such games, they need to convert to crypto gambling.

Decentralization

Even though online casinos need to go through vigorous testing to obtain their gambling licenses, there is still a layer of lack of trust, where people think that games are rigged.

However, the introduction of crypto casino games put an end to this debate since these games are based on a decentralized blockchain network that is out of reach for the casino. In other words, they don’t have the power to change the options of the game in order to increase their profits.

Additionally, all transactions are recorded on a digital public ledger, so the entire process is far more transparent than gambling at a traditional online casino.

Final Words

As of now, crypto gambling has proven to be a far superior method for enjoying casino games online. The only drawback that comes from cryptocurrencies is the price volatility, which might eat away your winnings since it is moving up and down every day.

However, you can always choose stable coins to enjoy risk-free gambling and scoop up all the benefits that come from this technology.

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Top 10 Benefits of Hard Money Bridge Loans in Texas

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Are you thinking about buying an old property in Texas?

Are you planning to try your hands on fixing and flipping properties? 

If yes, then we know how much trouble you are going through managing the money to get an amazing deal. Although you always have the option of getting a loan from traditional banks or financial institutions. 

But often, a lot of factors work against you making the deal. The longer process, strict rules, and regulations are not at all good for you cracking an attractive deal. Here, hard money bridge loans can actually save you from the hassle. 

Texas has amazing opportunities for real estate investors, and as a real estate professional, you have to grab the best opportunities, and hard money lenders will help you in that. 

Top 10 Benefits of Hard Money Bridge Loans in Texas

Here, in this article, we will talk about the benefits you can get when you choose one of the best hard money bridge loan providers in Texas. Knowing these benefits will help you to understand why you should opt for hard money loans instead of traditional banks and financial institutions. 

Benefit No. 1: Fast Funding

The process of hard money loans for real estate investment purposes is pretty simple. You just need to fill out a loan application form, and after having some talk with the lenders for a few minutes, you will be funded. Unlike your traditional banks, you do not need to fill up several pages of loan application forms and wait longer to get the loan approved. 

Benefit No. 2: Perfect Credit Score Is Not Needed

When you apply for a loan in your bank or any other traditional financial institution, you need to provide a perfect credit score. As long as you are choosing the right property, you do not need to show any credit history. 

Benefit No. 3: Lower Price and Quick Closing

We all are pretty much aware of the time and money consumed by banks or traditional financial institutions when it comes to approving a loan. At the same time, hard money bridge loans in Texas get easily approved within a few days and also need fewer loan processing fees. 

Benefit No. 4: Make an Offer Stronger

With a hard money bridge loan, when you make an offer, it will appear stronger, especially when you are competing with other investors with bank loans in the market. Banks have a reputation for pulling financing from buyers during escrow and also killing the deal. 

Benefit No. 5: Leverage to Invest More

Buying properties with cash comes with a lot of benefits, and that also includes properties at auctions. But when you are paying cash, it can limit the number of your investments. 

In this situation, you can opt for hard money bridge loans for real estate and get up to 75% financing. This way, you will get money to secure properties along with retaining more in order to complete your other projects. 

Benefit No. 6: Reinvest Equity

Whenever any opportunity comes, you always get limited time to act towards it. In case you are raising money for making a downpayment or for buying the property, you will mostly have limited options. In case you have enough equity in your property, you will easily get a hard money bridge loan. 

Benefit No. 7: Get Finances When Your Bank Is Not Giving

Most of the banks only provide loans to a single borrower, and that too up to 4 times. But hard money finances do not have any such limitations. They care about your equity and property. 

Benefit No. 8: Despite of Issue or Record, You Will Get the Loan

In case you have any financial status issues, like foreclosure or bankruptcy, on your record, there’s a high chance that your bank will not provide you with a loan. But hard money bridge loans for real estate always focus on your equity and obviously not on our past records. 

Benefit No. 9: Flexible Lenders

When it comes to rules and regulations, bank lenders are often really strict and rigid. And this very thing might prevent you from getting your loan approved. Yes, hard money lenders also have some regulations, but they are not that strict. 

Benefit No. 10: Get Advice from Experts

Your hard money lenders for real estate always want your deal to go smoothly; they are actually interested in your deal. That is why they will always guide you with expert advice to make your deal more attractive and profit worthy.

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