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Life insurance is a mystery to many people. Knowing when to get a policy and how much cover you may need often stump those looking to help protect their family’s financial future. There seem to be no shortage of insurance companies to choose from, so how can anyone know that they’re getting the best deal?

For many people, the cost of life insurance is important. Research presented by the Financial Services Council in June 2019 found that 28% of New Zealanders felt life insurance policies were too expensive. With household budgets already stretched thin, this comes as little surprise.

Though the cost of life insurance may be important, it’s only one factor to consider. The policy with the lowest premiums may not be the right fit for your needs. For many Kiwis, finding flexible cover that’s backed by a trusted and caring life insurer may be just as important as price.

Other factors when choosing life insurance

There are many factors that may come into play when you choose a life insurance policy. After price, the company selling the policy could be the most important.Going with a trusted insurance company may play just as a big a part in your decision making as finding the right price point.

When comparing life insurers, you may want to look at these four factors:

1.Who issues the policy?

Life insurance in NZ can be sold directly by the insurer themselves or through a distribution partner. This information is often found on the company’s website and in the policy wording. You could also learn this through news items or press releases (such as this one, announcing that Momentum Life had received their life insurance licence).

This information may matter, as it could affect the amount of money your family can claim in the future. Insurers often limit how much cover you can have with them, even if you bought the policy from two different brands. If you have more than one life insurance policy that’s backed by the same insurer, the benefit paid under one of those policies may be reduced.

2. What’s the insurer’s Financial Strength Rating?

Choosing a life insurance company may feel like an exercise in trust. You’re paying money now and trusting that the business will be there in the future. How can customers know the company they pick will be there when they need them?

A Financial Strength Rating is an indicator of how healthy an insurance company is, including how well placed they are to pay future claims. This rating is provided by independent financial reviewers and can help give customers more confidence when taking out a life insurance policy. In New Zealand, this information must be placed on the company’s website by law and in the policy wording.

3. Independent awards or quality marks

Life insurance companies typically aren’t shy about singing their own praises. However, this could help you decide who to go with. Awards can give customers important information about a life insurance company.

Industry awards may be a good indicator of how well an insurance company is performing, as well as how innovative or forward-thinking their business is. Insurers may also receive awards from independent companies recognising their strong customer service or community involvement. NZ insurers can also receive quality badges, such as the WriteMark, that demonstrate their commitment to customer care.

4. Customer reviews

Word of mouth can be great for all types of businesses, and life insurance is no exception. Reading customer reviews could help you get a better sense of the service you might expect after taking out a life insurance policy.

Customer reviews can vary depending on where you find them. A Google review could be left by anyone (even someone who’s never held a policy with the company), while reviews on Feefo only come from real, verified customers. You may also want to take some negative feedback with a grain of salt. Customers are much more likely to voice a complaint than sing a company’s praises. However, if the feedback for an insurer is overwhelmingly positive or negative, then this could be a good signal of how well they treat their customers.

Finding the right life insurance policy can be tricky, but knowing what to look for could help you make this decision. The above tips could help you narrow down your options and find cover that works for you and your family.

Founded in 1984 through a joint venture between Hero Cycles and the Honda company of Japan, Hero Honda (now known as Hero MotoCorp) is today the largest two-wheeler manufacturer in the world with a market share of more than 46% in the two-wheeler bike category. It is also listed at the 108th rank in the Forbes List of the 200 World’s Most Respected Companies. It is also ranked as the 7th most trusted brand in India and has received various awards in the two-wheeler category.

Despite the quality of their bikes and the experience offered by Hero Honda, it is not exempt from bike insurance. Bike insurance is mandatory for any two-wheeler on the road and not having one is a punishable offence. Most importantly, a bike insurance can protect you from a range of liabilities such as accidents, theft or even natural disasters that might lead to loss and/or damage to your two-wheeler. While till some while ago, getting a new bike insurance or renewing an already existing insurance policy involved a tremendous amount of paperwork and documentation, you can now get your two wheeler insurance online with a few easy steps. Below, we will see how to get insurance for your hero bike online.

How to get your Hero Bike Insurance Online

Getting a Hero Bike insurance online, today is not a big matter at all. You can get the best bike insurance policy for your Hero bike with the minimum amount of paperwork through various online portals. The insurance also makes you eligible for road-side assistance, provides engine protection coverage, coverage for personal accidents and against third-party liability. In any case, there are a few factors that determine the premium for your bike insurance policy such as:

1. The age of the two-wheeler.
2. Already existing add-on insurance covers.
3. The cubic capacity (cc) of a vehicle.
4. The depreciated value of a vehicle.
5. The discounts that have been availed.
6. The model of the Hero two-wheeler.
7. Already existing insurance policy

To buy a Hero Bike insurance online, you need to follow the steps below:

1. Submit details of Bike: You will firstly need to submit the details of your bike including the make and model number with details such as the cubic capacity etc.

2. Comparing the Premium: You can choose the premium for your bike from a variety of plans that are available and compare these prices with the add-on coverage.

3. Payment of Premium: After you have chosen the right insurer for you and submitted the bike details, you need to pay the reflected premium. You will also need to check the applicable GST and can pay by net-banking services, credit card, debit card or any of the e-wallets.

4. Policy: After completing the above steps, you will be given an online payment receipt to your registered email address and will receive confirmation of your approved policy.

Now, you can also get a multi-year bike insurance policy for your Hero bike up to a period of 3 years. This is especially helpful for many who are unable to renew their insurance annually.

It doesn’t take long to rack up a lot of debt. You buy a home, purchase a new car, and have student loans and multiple credit cards. Unfortunately, before you know it, all of your money coming in is going straight out the door. Once you reach this point with your finances, it’s only a matter of time before you are unable to keep all of your bills in good standing. The good news is that, if find yourself currently in this situation, there are ways to work towards becoming debt-free.

End the Late Fees

It’s a vicious cycle when you fall behind on your bills. You finally make the payment and now there are additional fees added. In order to stop the fees, you need to get current on all your bills. You can borrow money from a family member or try to raise the money by having a garage sale. If those are not an option, you can apply for a loan. Bad credit installment loans direct lenders take into consideration your income, whether you have an active checking account and are a U.S. Citizen. So even if you have a low score, you still have a good chance of getting an approval.

Ways to Reduce Your Debt

With a tight budget, paying down your debt may seem like an impossible task. It’s not. You can take on a part-time job until you get your debt under control. Or, if you have many credit cards, apply any extra money to the one with the highest interest rate and, once you pay that one off, move on to the next one. If you have too much debt divided between many places, you can always contact a debt relief agency.

Reduce Your Spending

Most people spend more than they need to on any given day. Maybe you buy your coffee each morning on the way to the office and you order take-out food at least once a week. Just those two items can cost over $200.00 a month, money that you can apply to your debt.

Lower Your Household Bills

There’s always room for improvement with your household bills. Take advantage of the de-regulation laws that have passed in many states which now allow you to shop around for the best rates on your utilities, etc. Review your utilities, such as the gas, elastic and water, and then contact other service providers in the area to see if their rates are better. The same goes for your cell phone and cable bills. Shop them around to see who can offer you the best deal. If you own a home and a car, try bundling the insurance with the same carrier. In most cases, you can save 10 or even up to 20 percent.

Establish a Savings

In order to prevent you from falling behind on your bills due to an unexpected expense, you need to create an emergency fund. Even if you can only contribute $5.00 or $10.00 a week, if you leave it alone, it will add up quickly. And then, the next time you have an unforeseen expense, instead of taking money allocated for your bills, you’ll pull the money from your savings.

Stop Impulse Spending

In life, there are things you need and things you want. The things you need, such as a roof over your head, you must take care of. However, the things you want–like a new 50″ TV can wait. Stopping the impulse spending and learning how to save up money for big-ticket items will help you stay on track, reduce your debt, and pay the exact cost with no interest or penalty fees added.

Becoming debt-free is something that you can accomplish. If you work towards paying down your debt, reduce your spending, learn to shop for services and create a savings plan, you’ll slowly start to see more of your hard-earned money.

If you are in debt, chances are high that you are looking for a solution to be debt free as quickly as possible. The three most common forms of debt solutions are debt consolidation, debt management plans, and debt settlements. Debt relief can also involve:

• extending the terms of loans
• lowering loan interest rates
• partially or totally reducing the amount of the outstanding principal

Typically, creditors will opt for debt mitigation if it’s a better alternative than debt default when the repercussions are too severe.

The 5 most common Questions asked by Debtors

While every debt relief case is different and no two debt relief companies are exactly alike, there are 5 questions that every individual usually asks when exploring their debt relief options. These are:

Are there any guarantees that all of my debt will be settled? Unfortunately, NO. Every debt relief case involves some type of negotiations. No debt relief company can guarantee that kind of an outcome or how the negotiations are going to proceed. The success of the debt relief company is usually based on the debtor’s ability to save enough money each month to cover the payment amount that will be due.

Can I negotiate with my creditors? YES, you can, if you want to save anywhere from 18% to 25% off the debt you owe. Most debt relief companies are going to charge you between 15% to 25% depending on how much you currently owe and the state you live in. Many people call debt relief companies so they can avoid dealing with creditors as much as possible or because they lack the confidence to negotiate with them.

How much time is involved in becoming debt-free? That typically depends on how long it takes you to accrue the funds and save up the settlement amount. Debt relief programs can range from 24 to 48 months. So, the faster you can save up the money to make that settlement offer, the sooner you’ll be out of debt and feel financial relief. Just remember that it would take 10 to 20 years to pay off a credit card if you only make the minimum payment each month. Plus, you could wind up paying 2, 3, or even 4 times the amount you originally owed.

Will debt relief impact my credit? YES, in varying degrees depending on the debt relief option you choose. Typically, the immediate impact to your credit score will range from relatively minimum or small to severe damage while the long-term impact ranges from a minimal to extremely long recovery period.

Will I still get calls from bill collectors? Unfortunately, this is still a possibility despite the federal and state legislation that was designed to protect the consumer from being harassed by debtcollectors. Just keep in mind that the goal with debt relief companies is to get the creditors to call them and not you. That will save you hours of phone-calls and harassment.

Fitness professionals, gym owners, and personal trainers work with clients to help them be fit, lose weight, and get rid of their chronic injury. Although a job that provides a lot of value in the client’s life, being a personal trainer or a gym owner comes with significant risks.

Fitness training requires lifting of weights and utilizing the strength of the body to its maximum potential. Clients might get injured, or may claim of not being satisfied with your training, and services. This condition can lead them to file a legal suit against you. Trainers in the gym working for you may get injured at your gym premises, and you being the owner of the gym will be held responsible. Moreover, some clients will not be satisfied with your services and may demand compensation.

If any such thing happens, you will have to face a significant loss in your assets and can turn out to be disastrous for your business. While some of these conditions can be avoided by being extra careful, there are a few situations which are not under your control. To avoid such problems, gym owners and personal trainers should always buy personal trainer insurance and a group health insurance.

Although none of these insurances are mandatory to buy, there is no good reason to avoid them.

Public Liability Insurance

Public liability insurance is one of the most critical insurance fitness professionals should buy. People working out in the gym may get injured. This injury can be as small as a muscle strain and can be serious conditions like fractures, and dislocations. Although the trainer is not always responsible for the injury, if the client files a lawsuit against you for being responsible for the injury, you will need to spend a lot of money while defending yourself. Public liability insurance covers the cost and expenses you will incur while going through the legal and court proceedings.

Having public liability insurance gives you mental peace while working because injuries in the gym are common. And, a minor looking muscle pull can turn out to be some serious muscle tear.

Employers Liability Insurance

Insurance liability insurance is a type of group health insurance that covers the cost of injuries that can happen to your employees in the gym. If you are a personal trainer or a gym owner with no employees, you might not need employers liability insurance. But, if you have a few employees in your gym working for you, group health insurance is vital.

Employers Liability Insurance covers the cost you might incur if any of your employees get injured or fall ill while working for you in the gym. The employer’s liability insurance also provides coverage if any of your employees get into a quarrel with a client or sudden events in which your employee gets assaulted by a client in your gym.

Professional Indemnity Insurance

Your clients may not feel satisfied with your services. Or, your clients may claim they have not noticed the desired progress that was promised. In some cases, your clients can sue you for not providing adequate services.
Professional indemnity insurance is important because no matter how good a trainer you are, or how effectively you manage your gym, there will be some clients who will not achieve their goals.

Some of them will accept that it is their responsibility to stick to their routine and recommended diet; some of them may file a lawsuit against you for not working properly with their regime. Therefore, professional indemnity insurance covers the cost of defending yourself in the costs and providing your clients with their compensation payments.

James Eckardt is the founder of Peak Advisors Inc., a boutique insurance brokerage on Long Island, NY. The firm has a stellar record of service with three decades of experience in health insurance coverage and hundreds of clients including small businesses, commercial enterprises, sole proprietor-ships and seniors.