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Stepped or Level Premiums for Life Insurance? When looking for the right Life Insurance policy within Australia, it is important to consider which premium structure you would like to choose. Stepped premiums are great in the short term, though will end up costing you a lot more in the longer term. “When discussing with clients, I always ask for how long they see themselves needing life insurances and income protection.” says Peter Kaleta Principal Adviser from Life Shield. ”If the answer is ‘long term’ (greater than 5-10 years), then it is worth considering a level premium structure for their new policy.” Normally you are only told about stepped premiums as these are the cheaper option, at least initially and therefore is easier for the broker to ’make the sale’. Stepped premiums are re-rated each year at renewal as per the client’s age and therefore the cost goes up. The older you get, the higher the increase is. The problem here is, that once you are in your fifties and even sixties, the cost of your insurance becomes so high that often clients are forced to either reduce their benefit or cancel the cover all together. This potentially leaves the client without the required cover at a time when they need it most. Level premiums do not have age based increases and therefore do not have the dramatic increases in cost over time. In fact, the only increases in cost that you will have on your policy are due to CPI (Consumer Price Index – linked to inflation of between 3-5% pa) (and the sum insured will also increase each year by this amount) or general rate increases imposed by the insurer. Level premiums give you the certainty of knowing what you will pay for your insurances up to age 65 in most cases. Once you are of age 65, the premium will revert to a stepped structure and therefore begin to increase each year. As an example, a male aged 40 with $100,000 of life insurance will pay approximately $15 per month (depending on which company is chosen) initially and a total spend up to age 65 of almost $15,000. On the level premium structure the same person will spend initially $24 per month however up to age 65 the total cost is less than half at $7,000. Initially there is the cash flow issue as you will be paying more than you need to, however in the longer term the cost of a level premiums structure will be well below what you would on a stepped premium. More information – visit www.lifeshield.com.au |
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FHA mortgage Loan The FHA home loan program is a FHA mortgage loan designed to assist every qualified and eligible Florida mortgage applicant with having the opportunity to qualify for a Florida mortgage. Insured by HUD and administered by FHA (Federal Housing Authority), the FHA home loan provides prospective Florida FHA mortgage clients with tremendous opportunities. Offering FHA mortgage rates that are traditionally lower than conventional Freddie/Fannie mortgage loan programs, the FHA mortgage loan is fast becoming the FHA mortgage loan of choice for many Florida Home Buyers FHA Home loan Advantages For Florida homebuyers Include: Minimal Down Payment and Closing Costs.
Easier Credit Qualifying Guidelines such as:
Easier Debt Ratio & Job Requirement Guidelines such as:
APPLY NOW AT http://www.fhamortgagefhaloan.com/ Did you know? According to Fannie Mae, over 40% of Florida mortgage loans were originated through High Interest Rate and subprime home loan programs that could have qualified for a low Fixed FHA homeloan? Staggering – over 50% of Florida home buyers and home owners were placed in the WRONG loan program. Not every Florida mortgage lender can originate the FHA mortgage loan. HUD maintains strict FHA lender guidelines which limit which Florida FHA mortgage lenders can assist Florida home buyers and Florida home owners like you, with FHA home loan financing. With HUD oversight and such strict quality FHA mortgage qualifying guidelines for FHA mortgage companies, Florida homebuyers know with confidence, if the Florida mortgage company you are working with originates the FHA home loans, they are a strong and FHA mortgage lender. At FHAmortgageFHALoan.com , our goal is to place you in the right FHA mortgage loan the first time, and the FHA home loan program is a solid foundation to financing success. Learn more about the FHA home loan at http://www.fhamortgagefhaloan.com/. There are tremendous benefits of applying for an FHA mortgage:
The truth is, there are many good reasons for all Florida home buyers and Florida home owners to consider the FHA mortgage loan. Beyond the fact that FHA interest rate benefits, and the most flexible qualifying and great terms, the FHA loan gives you peace of mind. The FHA home loan program is administered in such a way that it is actually designed to protect you in tough times! How? Unlike conventional and Sub-Prime (Bad Credit home Loans), the FHA mortgage Loan offers 3 different Foreclosure intervention programs that actually help tens of thousands of Florida home owners keep their homes – EVERY SINGLE YEAR. To have these intervention options available should you have a financial nightmare, you have to have a HUD/FHA insured FHA mortgage Loan to be eligible! Just one more reason you should think hard about getting an FHA Mortgage. To find out more, visit http://www.fhamortgagefhaloan.com/ |
