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[ad_1] A million dollars seem like a lot for a life insurance policy. Well if that seems like a lot I can only assume that a $3 o $4 million policy seems outrageous. But the fact remains these types of policies exist for a reason. There are situations where high-income earners or those looking to protect their estate would need such a large insurance policy. So who would need a 3 million-dollar policy and how much should you need? Let me give you a quick example… #ap61026-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap61026-ww #ap61026-ww-indicator{text-align:right}#ap61026-ww #ap61026-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap61026-ww #ap61026-ww-indicator-wrapper:hover #ap61026-ww-text{display:block}#ap61026-ww #ap61026-ww-indicator-wrapper:hover #ap61026-ww-label{display:none}#ap61026-ww #ap61026-ww-text{margin:auto 3px auto auto}#ap61026-ww #ap61026-ww-label{margin-left:4px;margin-right:3px}#ap61026-ww #ap61026-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;height:15px;min-width:15px;min-height:15px;cursor:pointer}#ap61026-ww #ap61026-ww-icon img{vertical-align:middle;width:15px;height:15px;min-width:15px;min-height:15px}#ap61026-ww #ap61026-ww-text-bottom{margin:5px}#ap61026-ww #ap61026-ww-text{display:none}#ap61026-ww #ap61026-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap61026-w-map{max-width:600px;padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap61026-w-map #ap61026-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap61026-w-map #ap61026-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap61026-w-map #ap61026-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap61026-w-map #ap61026-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap61026-w-map #ap61026-w-map-map svg{position:absolute;left:0;top:0}#ap61026-w-map #ap61026-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap61026-w-map #ap61026-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap61026-w-map #ap61026-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap61026-w-map #ap61026-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap61026-w-map #ap61026-w-map-map svg g .ap00646-w-map-state{display:none}#ap61026-w-map #ap61026-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap61026-w-map #ap61026-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap61026-w-map #ap61026-w-map-map svg g:hover{cursor:pointer}#ap61026-w-map #ap61026-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap61026-w-map #ap61026-w-map-map svg g:hover text{fill:#fff}#ap61026-w-map #ap61026-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap61026-w-map #ap61026-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap61026-w-map #ap61026-w-map-btn:hover{color:#fff;background-color:#508fc9} If you're concerned about your family's wellbeing, Life Insurance can give you some peace of mind. Should anything happen to you, you'll want to leave your loved ones a financial nest egg for their wellbeing. Click on your state to find out more. HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas Get a Free Quote How much life insurance do you need?  Most financial experts suggest that you need 10 to 15 times your income in life insurance coverage. So if a high-income earner was making $200,000 per year x 15 – that would get you to the $3 million dollar mark of coverage needed. Even someone making $250,000 would be in that ballpark of $2.5 million to $3 million of life insurance. If you’re not really sure how much you need and would rather base it off of your total household needs you can also try out a life insurance calculator that will get you a more specific amount. Either way, the main goal of purchasing any life insurance policy is to protect your family decades into the future. You may only need a 10-year term policy but if you’re younger I would highly suggest considering at least a 20-year term or a 30-year term if it’s not cost-prohibitive. I will also add having a $3 million-dollar policy is nothing to flex on. You buy life insurance for asset protection, period. In most situations buying a term life policy makes the most financial sense so that you can invest more towards building wealth. Reasons You Might Need a $3 Million Term Life Policy We’ve already talked about the importance of asset protection and why you may need to purchase such a large life insurance policy for yourself. Here are a few other examples of why someone may want to consider this type of policy: Final Expense Coverage – Final expenses are exactly how they sound. This is to cover funeral costs, medical bills, and possibly to cover long-term care expenses where there is no insurance coverage to help out. While funeral costs are typically in the $20k to $30k range, they aren’t expected to increase rapidly. The other costs, medical and long-term care, are completely impossible to predict how they’ll be in the future. Extra expense coverage – This is the complete unknown. Will your family be able to stay in your current home or will they be more comfortable moving out of state to be closer to family? And if you have kids there’s a variety of costs to consider, anything from college tuition to helping them pay for a wedding. With so many unknowns it’s important to have a serious conversation about all of the things that could be or should be considered. And if you’re not confident that you’ll be able to uncover all of the important considerations this is where a financial professional or independent life insurance agent can help out. #ap18923-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap18923-ww #ap18923-ww-indicator{text-align:right}#ap18923-ww #ap18923-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap18923-ww #ap18923-ww-indicator-wrapper:hover #ap18923-ww-text{display:block}#ap18923-ww #ap18923-ww-indicator-wrapper:hover #ap18923-ww-label{display:none}#ap18923-ww #ap18923-ww-text{margin:auto 3px auto auto}#ap18923-ww #ap18923-ww-label{margin-left:4px;margin-right:3px}#ap18923-ww #ap18923-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;height:15px;min-width:15px;min-height:15px;cursor:pointer}#ap18923-ww #ap18923-ww-icon img{vertical-align:middle;width:15px;height:15px;min-width:15px;min-height:15px}#ap18923-ww #ap18923-ww-text-bottom{margin:5px}#ap18923-ww #ap18923-ww-text{display:none}#ap18923-ww #ap18923-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap18923-w-text{padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap18923-w-text #ap18923-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap18923-w-text #ap18923-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap18923-w-text #ap18923-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap18923-w-text #ap18923-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap18923-w-text #ap18923-w-text-btn:hover{color:#fff;background-color:#508fc9} Sign up for a Term Life Insurance policy with ease. A Life Insurance can give you the coverage you need now, with coverage amounts ranging from $100,000 to $2million. For more information, click below. Get a Free Quote How much will a $3 million life insurance policy cost? Here’s some sample rates so you can get an idea of how much this type of policy will cost. Age Gender Term Amount Premium 30 Male 30 years $3 million $173.49 Female 30 years $3 million $133.69 35 Male 20 years $3 million $95.47 Female 20 years $3 million $81.29 40 Male 15 years $3 million $106.49 Female 15 years $3 million $92.49 45 Male 10 years $3 million $138.17 Female 10 years $3 million $118.46 Here are some more rates from a different company for a non-smoking male. Age Face Value Premium 30 $3 million $99 40 $3 million $150 50 $3 million $431 60 $3 million $1,231 70 $3 million $4,654 80 $3 million $14,138 Both of the tables above are for illustrative purposes. A variety of factors will determine what the actual cost will be. Underwriting a $3 million term life insurance policy. The underwriting process of obtaining a $3 million-dollar policy is no different than getting any other type of insurance policy. When I took out my $2.5 million policy I scheduled an appointment for a nurse to come to my office for the paramed exam. This is the basic exam where they collect your height, weight, blood pressure, and any other pre-existing conditions. They also take a small blood and urine sample which then gets delivered to a lab for further testing. The whole process

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[ad_1] U.S. CFPB chief to testify before Senate panel around open banking, Big Tech -testimony [ad_2] Source link

[ad_1] Foodtech unicorn Swiggy on Monday launched an accelerator programme for its delivery executives to transition into full-time, managerial-level jobs with a fixed salary and additional benefits. The programme, named “Step-Ahead” is aimed at giving an opportunity to those executives who want to move from their current blue-collar delivery work role to a dedicated white-collar managerial role. To be eligible for the role of a fleet manager, a Swiggy delivery executive must hold a college degree, possess communication skills and basic computer knowledge and should have been delivering with Swiggy for a few years, the start-up said in a statement. Managing a fleet of delivery executives, the fleet managers will be responsible for different roles like maintaining metrics such as login hours, cancellations, resolving queries, and working on special projects for delivery executives. “Being well-versed with the challenges and opportunities at a ground level owing to their rich experience in delivery, seasoned delivery executives are a natural fit,” the company said. Swiggy added that numerous Swiggy delivery executives have joined the platform as fleet managers in the recent past. With ‘Step Ahead’, Swiggy is formalising this process and intends to reserve at least 20% of all fleet manager hires for its delivery executives. The start-up is also “considering” reducing the tenure requirement to around two years. “Swiggy has consistently maintained that our delivery executives are the backbone of our operations, and we are proud to enable an income opportunity for over 270,000 women and men across the country. While most may consider their association with the platform as a stop gap between jobs or an education, or even an additional source of income, we realise that there are some who want more. With ‘Step Ahead’, Swiggy is creating a unique opportunity for those interested to flip their collar from blue to white and take on a managerial role,” said Mihir Rajesh Shah, VP, operations, Swiggy, in a statement. Swiggy currently has over 270,000 delivery partners across the country. They receive benefits such as accident insurance and medical cover, personal loans, income support, period time off, and maternity cover, among others. The start-up’s decision to launch an accelerator programme for delivery workers comes at a time when hyperlocal delivery firms have been criticised for ignoring employment rights since workers have very little mediation power with the company. Delivery workers are strictly hired by start-ups such as Swiggy, Zomato, and Dunzo on a contractual basis off the payrolls, and hence are considered freelancers (or gig workers). Globally, gig economy workers take up the delivery work to earn a quick buck or opt for it as a secondary source of income. But in India, most gig workers such as delivery workers and cab drivers on Uber and Ola depend on these ‘gig economy’ jobs as their primary source of income. Usually, the gig workers make a fixed cut out of the order value, along with a daily or weekly incentive component for completing a predetermined number of deliveries. And in the past few years, workers have also complained of dwindling wages amidst long work hours. Hence, the government came out with a new social security code for workers which is yet to be enacted in full. The Code on Social Security, 2020, which was passed by Parliament in the monsoon session in 2020, requires gig economy startups and companies to contribute a part of their revenue to a social security fund for gig and platform workers. It also outlines other benefits such as health and accident cover for gig and platform workers. But the new social security code is still being deliberated upon as the recommendation are yet to be implemented by the government. [ad_2] Source link

[ad_1] Do you have a passion for helping people with their money, but you just don’t know how to go about it? Maybe you already have a career, and you’re not ready to do it full-time? Can you be a part-time money coach? A listener to the GFC podcast that is interested in helping people with their money asked my opinion if it makes sense to pursue his passion. I just love answering these types of questions of people that are determined to follow their passion to serve others. Side note: Feel free to ask your question here. “I’m currently in the software industry, and looking to move into financial planning. I’ve started taking the CFP courses and my thought is to start part time as a financial coach helping individuals and families get their finances in order, and then eventually help hopefully move into full time financial planning. I was wondering if you could offer any advice to me in regards to this? Do you think that this is a viable option two, what was the most important thing that you did in building your own business? Thanks in advance for your help, Chris.“ Before I’ve finished this question, I mean, dude, Chris, let me say the fact that you’ve already purchased the CFP courses, and you’re already going through them – that’s awesome! That is a testament to your dedication about this. And that is something that I don’t want you to discount, especially if you really want to get into financial coaching (money coaching) and help people with their finances. That says a lot about you, the fact that you’ve already committed the finances and the time. Make sure that you mention that whenever you are talking with people that might end up becoming eventual clients of yours. Can You Be a Part-Time Financial Coach? First and foremost, do I think this is a viable option? Without a doubt – absolutely! I don’t know what the time restrictions are with your job. Do you have time to do this on the side? Obviously, I don’t know your family situation. Do you have young kids? Are you married? If this is something that you’re passionate about, it may require you to sacrifice some of that family time that you have been accustomed to? Or maybe not because you are just super efficient at what you do. And you can pull this off where you’re not being pulled in too many directions. If that is the case, man, I give you props and encourage you go for it! Financial Coach vs. Financial Planner – What’s the Difference? Before I dive in and answer your question with a little bit more detail, I think it’s important to discuss the difference between a financial coach, a financial planner, and a financial advisor. There really isn’t a lot of difference. Both a financial coach and a financial advisor are going to help people with their finances, typically more like money management. That could be budgeting, tracking their spending, or prioritizing their savings. The BIG difference between a financial coach and a financial planner is that a financial coach will NOT give you specific investment advice. In fact, they can’t because it is against the law. You have to have a securities license (like a Series 7 or Series 65) if you plan on giving specific investment advice. That is key because you don’t want to get into trouble. If you have an eventual goal of becoming a financial planner, and you’re already giving financial advice as far as specific investment advice, that could get you in how water with SEC or FINRA. Does a Financial Coach Need a Special Certification? It’s also important to note as a financial coach, there’s no specific requirement that you have a certification or a financial coaching degree. Now, that being said, there are financial coaching certifications you can obtain. Okay, if I don’t have to have one then why do they have them?  That is a great question. I’m just gonna say, I assume that’s because why not because if we can offer a financial coaching certification, people will pay for it. I think in some cases, people want to look professional, they want to look like they are legit. If you don’t have any of these credentials to back you up, it may be harder to gain trust. Here is just one of the certifications that you can get from the AFCPE (Accredited Financial Counseling and Planning Education): The Accredited Financial Counselor gold standard includes: comprehensive life cycle financial education providing the knowledge and skills to assist clients in complex financial decision making an accredited financial counselor can address your immediate money challenges create a plan to achieve your unique goals and dreams build a sustainable foundation for long-term financial well-being These are all the services an accredited financial counselor can do for their clients. But do you have to have this certification? You don’t. If you want to be a financial coach or money coach and have a passion for helping others to achieve that same type of success, you have the ability to be a money coach. How Do You Find Clients For Financial Coach Business? Now that you’ve established you have a passion for helping people with their money you’ll then have to figure out how to find people that are willing to pay you for your coaching services. I think the first crucial item you need to do first is to identify your “money story”. What is your money story?  If you are interested in becoming a financial coach, like Chris, I think the thing that I would want to say at the very beginning, is knowing exactly what your money story is. What is your success that you’ve had with managing money, and this is very important. It’s important as a marketing tool, but also it’s very important to earn the trust of the people that you are trying

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[ad_1] New York judge holds Trump in contempt for failing to comply with subpoena [ad_2] Source link

[ad_1] There is a five-fold increase in the grant of patent annually, and a four-fold rise in trademark registration every year since 2014, the Ministry of Commerce and Industry said on Monday. To modernise the Intellectual Property (IP) office and reduce legal compliances, along with facilitating filing of IP applications, the government has adopted several administrative and legislative measures, it said in a statement. These initiatives have made a remarkable impact on the IP filings and registrations being granted, it said. “There is a five-fold increase in the grant of patent annually, and a four-fold increase in trademark registration every year since 2014,” the ministry said. Further, it said that a large improvement has been noticed in domestic filing of IP applications across all right areas and especially in Patents, where 46 per cent increase has been noticed in the last five years. On the occasion of this World IP day, the ministry will be organising a conference on ‘Leveraging India’s Demographic Dividend through IP’ here tomorrow. [ad_2] Source link

[ad_1] In Spokane, Washington, a mortgage loan officer at a regional bank has seen five borrowers qualify for a mortgage for one amount, only to have that number slashed a few months later. “They were approved in December,” he said. “Now they’ve gone from $450,000 down to $325,000.” The reason behind the change, he said, is not that they had a sudden reduction in income, or an emergency expense that drained their savings. The culprit is property tax bills, which arrived on April 1, bearing property tax increases driven by fast-rising home prices. In Spokane, the average property tax bill has risen from about $2,500 in 2019 to about $3,000 in 2021, tax assessment data shows. Depending on a specific property’s assessment, however, the increase can be much higher. For those hoping to buy a home with a mortgage, property tax increases can reduce their debt-to-income ratio, and thus the amount they qualify for. But underwriters only factor in current property tax rates, not future increases. So existing homeowners can be caught off guard when there is a gap between what is held in escrow and tax bills that come due. Most conversations surrounding the affordability crisis have focused on headline-grabbing home price increases, bidding wars, racial disparities in home appraisals and a lack of supply. But a property tax reckoning is coming, even if its arrival date is at some distant point in the future. “Assessments won’t catch up to the increases for some time,” said Rick Sharga, executive vice president of market intelligence for real estate data firm ATTOM. But the increases are already in progress. There have been large increases in areas that saw large home price increases and recently updated tax assessments. The average property tax bill in Tennessee, which has one of the lowest tax rates in the country, saw a 30% increase in average property taxes paid on single-family homes last year, according to ATTOM. Average property tax bills in Milwaukee increased 19%. Residents of Baltimore saw their tax bills rise 12% in 2021. But property taxes vary dramatically from state to state, city to city, and even within cities where there are multiple tax authorities. Further clouding the picture, property taxes tend not to move in concert with home price increases. Rather they lurch forward and back on an uneven schedule, trailing the market by years, depending on intervals set by tens of thousands of separate localities. “Assessment values always lag home prices, on the way up and on the way down,” Sharga said. As house prices continue their meteoric rise — although rate hikes from the Federal Reserve may cool increases — prospective borrowers and existing homeowners are seeing their property taxes grow bigger and bigger. “We’re in uncharted territory,” said Joan Youngman, who chairs the department of valuation and taxation at the Lincoln Institute. “No one knows how this will all play out.” Pick your battles Racial disparities in appraisals are far less clear than property taxes. But the federal government has fixed its might on the former. The strategy has irked appraisers, in large part because they feel the federal government has not yet proven its case. The government-sponsored enterprises possess the largest historical data set of appraisals, but studies on appraisal bias have been limited to self-reported values and other proxies to understand its pervasiveness. Lawmakers, academics, fair housing and trade groups have all bemoaned the lack of appraisal data. For property tax assessments, there is no such obstacle. In 2020, researchers Carlos Avenancio-León of Indiana University and Troup Howard of the University of California-Berkeley combed through tax assessments at 118 million properties. Avenancio-León and Howard found that, on average, the ratio of a Black resident’s property assessment to sales price is nearly 13% higher than for a white resident. For Black or Hispanic residents overall, the average assessment gap is about 10%. The puffed-up assessments mean minority homeowners pay about $300 to $390 more each year than they would if their tax burden were in line with that of white homeowners. Minority homeowners are paying more for public services relative to the market value of their homes, the researchers wrote, a dynamic the researchers demonstrated in all but a handful of states. Sixteen years prior, Lee Harris, an associate at Baker, Donelson, Bearman, Caldwell & Berkowitz, wrote in Florida State University Journal of Land Use that racialized property tax assessments is “startling.” Harris wrote that the increased tax burden could discourage minorities from becoming homeowners. “High property taxes are a direct cost to potential homebuyers and, if too high, they will dissuade some minority non-homeowners from making home purchases.” Unstoppable force In Texas, lawmakers limited property tax rate increases even before the COVID-19 housing rush sent home prices skyward. But it wasn’t enough to stop taxes from rising. Although school tax rates dropped 13% after the legislation passed in 2019, taxable values — propelled by the white-hot housing market — were up 23% in the same period, the Texas Taxpayers and Research Association found. The full extent of how much property taxes will rise is unclear, because the lag between home price appreciation and assessment cycles varies. In Lancaster, Pennsylvania, there has not been a reassessment of county-wide property values since 2018. The tax assessment office said there might be a reassessment in 2025. Many states lack any mandatory reassessment cycle at all. The Journal of Property Tax Assessment and Administration wrote in 2019 that states, including California, New York, Maine and Pennsylvania, don’t have a set interval for reassessments. Some states, like Vermont and Tennessee, go six years or more between tax assessments. Just 10 states have mandatory annual assessments, which means that the bulk of the COVID-19 home price increases have yet to be reflected in property taxes. That’s borne out in tax assessment data from ATTOM, showing that $328 billion in property taxes were levied on single-family homes in 2021, a 1.6% increase from 2020. It was the second smallest rise in the past five

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