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Sunday, November 17, 2019

Tamir Zoltovski Describes the Work Opportunities in Financial Services

Posted by admin on November 12, 2019

Financial services include anything related to money, from investment banking to insurance to accountancy.
Financial companies have various needs such as financial news, reports, investment opportunities, stock market information, credit ratings, dedicated investment hardware and software, data analysis tools, solutions to meet financial regulations, and much more. All these jobs described below help them to operate successfully. In this article, Tamir Zoltovski will describe the roles that provide services explicitly to the finance industry.

News

Financial news blends analytical skills with the capability to communicate on paper. It’s a great career opportunity for sparkling writers who are enthralled by the business world. They will observe the market, keep readers updated with the day-to-day information, and ferret out the unpredicted for them, all in their attractive style.

Data

In the globe of financial data, the significant thing is consolidation; stock exchange information, company reports, the information regarding foreign exchange services of every bank is out there but to make them useful, it all needs to be in one place. Working in financial data, your role is to collect the data for your customers. It means building relationships with banks and stock exchanges and discovering ways to feed their data into the data service of your company.

Analysis

Analysts generally organize and evaluate data. They are responsible to produce real-time reports for clients, bringing information and making them aware of financial decisions. Their reports are useful for investment managers and private equity investors to make decisions about which company has potential as an investment option.

Technology

The finance sector needs technical solutions that do not relate to anywhere else, both software and hardware. This role is not just for the developers and engineers, anyone can go into it with any degree. Those interested in finance will find many roles, from product consultancy to customer support.

Regulation

Financial companies have to follow strict regulations, which are planned by regulatory agencies. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are two main regulatory agencies for the UK, where PRA regulations intend to keep the economy stable, while FCA regulations guard consumers.
 
Regulations change continuously to keep up with laws, taxation, policy changes and developments within the sector. Your role may involve planning new regulations, assessing them for risk and analyzing them for probable outcomes. There is even the enforcement side of things, which includes analyzing and investigating regulation’s violation – a little like being a detective.

Compliance

Compliance is the other side of regulation. The compliance officer’s role is to ensure that your company is following all the necessary regulations and submitting reports to the regulators. You have to recognize and interpret the continuously changing rules.

Finally…

Financial services’ work opportunities are not restricted to business and mathematics graduates. While the hi-tech roles (and some areas of analysis) need some technical skill, everything else is an open game for linguists, humanities students, and even people with other degrees.

Why Should I Sell My Life Insurance Policy?

Posted by admin on November 4, 2019

Does the idea of “how can I sell my life insurance policy“ keeps running in your mind? What is a life settlement? Who can sell? Are you eligible? Why you should sell your life insurance policy. You will find all the answers here below.

Selling your life insurance policy for cash is called life settlement. This involves the following:

1.Legal and financial transactions

2. Life Settlement Company (either a provider or a broker)

3. Legal documents

4. A commission if you go ahead with a broker.

You can think of the life settlement only if your age is above is 65 years, the face value of your policy is more than $100,000 and the policy type should fall amongst Universal Life, Whole Life, Term, Convertible Term, Joint, and Second-to-Die life insurance policies and must be issued by a US-based insurance carrier. If you meet all the above mentioned that you can go ahead a step further.

You can sell your term insurance policy only it is convertible into permanent life insurance. Since term life insurance terminates when the tenure for the policy lapses. The eligibility of life settlement depends on age/health, policy type, and policy size.

Under what conditions you can think to sell your life insurance policy?

1. You No Longer Have a Beneficiary Selling your life insurance policy (https://plsettlements.com ) while having dependents is not a good idea as you may dismiss the importance of the policy and why did you purchase it in the first place. In an incident like death of a spouse, divorce or you don’t have dependents for ones you need the cover; you might decide you sell it off.

2.You are over insured If you already have one or more policy in your name having high dollar policies and you wish to terminate one of them.

3. You cannot afford the policy premiums anymore
Sometimes the premium seems to be expensive depending on your income and you might decide to sell your policy. It is a great way to encase your policy and also avoids any further premium payments. In the given scenario you can consult a life settlement company they will guide you best.

4. Your term policy is about to expire
When a term life policy approaches the defined period you need to make some decisions that can benefit you. You need to act a minimum of six months before your policy expires. Also with the option of conversion rider, you can easily convert your term policy into permanent insurance and sell it.

5. The urgent need for cash
Life puts you in some awkward situations wherein you need cash urgently rather than the beneficiary. It might be the case where your beneficiary has more solid financial conditions than yours. You can then decide to sell your life insurance policy. Aging may bring unanticipated medical bills and long-term care expenses or maybe.

Unanticipated costs crop up as we age. You may need money for long-term care, medical bills, or to bolster your retirement income. Selling your life insurance policy should well planned and well-strategized move, it is not that easy to encash your policy. Many factors are involved during the process.

Before making your mind to sell your policy think of the following factors:-

Do I need the coverage? Finding an answer to this will make difference in your decision, though there are few cases under which you can still can the cover even after selling your policy, but you need to discuss the whole case with transparency with Life Settlement Company.

By what other ways I can pay premiums? When the premiums become difficult to pay in terms of affordability either you can reduce the death benefit or you can take loans against your policy. This way the premium amount reduces and you can pay them relatively with ease.

Through whom should I sell my policy? You can sell your policy to a licensed life settlement provider or a broker having years of experience and must be specialized in the insurance industry. Never make a deal with a broker or buyer who generates any kind of pressure to sell the policy for less. You will always get more amount than the surrender value.

You must know that you will get only 13 – 21 percent of the value of policies.

You will have to pay commission charges to the broker.
Buyers buy only specific types of the policy so in short not every policy can be sold.

Tax implications are involved, so talk to your tax advisor as this will affect your financial status.

How much money can you get?

The amount of money you will get depends on the size of the death benefit, the cost of the premiums, and the life expectancy of the insured. Life settlement providers use some calculative model so decide what they can pay for your life insurance policy that in-force and that will give them a decent ROI.

The best thing is to get multiple offers, either through a broker or several providers. You can find licensed life settlement providers (https://plsettlements.com/what-is-a-life-settlement/ ) and brokers in your area.