Simple, Reliable Life Insurance Advice

April 18, 2013 By

Life insurance is one of those everyday expenses which most people tend to regard as a necessary eveil. No one really likes to shell out for insurance but especially if you have a family, you appreciate it is something that must be done. So, assuming you have grasped the nettle, what can you do to keep costs down?

You should pay attention to your insurance costs because they can end up forming a substantial part of your montly budget, depending on your age and other factors. And we all know how difficult it can be to balance the books at home, leading so many to make use of credit options such as quick cash advances, overdrafts and other short-terms solutions from companies like Blueskyloans.co.uk, to mention but one of the many out there.

Well, first things first if you are looking to cut the cost of life insurance it helps if you don’t participate in any dangerous sports or  hobbies. If you like to fly a plane, helicopter or glider, or you are a fan of paragliding, rock climbing or  any other so-called extreme sports, you can expect your insurance premiums to be higher than those who do not indulge in such activities. If you want to cut your costs, then I’m afraid your hobby will have to be consigned to history. And its not just hobbies or activities that can have a bearing on the cost of insurance. Certain trades or professions are also perceived to be more risky than other and so  will attract a higher premium.

While it may not be easy just to switch jobs, what you can quite easily do is ask for a selection of life insurance quotes. You can either do this online, by using one of the many comparison websites, or else consult an insurance broker who will do the hard work for you. On no account should you simply opt for the first quote you get. Different companies use different criteria for calculating their costs and you may well be surprised at the difference in quotes you receive. Ensure you are comparing like-with-like and you should then be able to grab a competitive quote for your insurance needs

One final point, to do with insurance generally aswell as with getting the lowest premium – when you are applying for insurance it’s important to fully complete any questionaires regarding family medical history as this data can have a significant bearing on your premium. Do not be tempted to omit anything that you think might be relevant in the hope of getting a cheaper quote.If you fail to disclose any relevant information, then any claim your representatives may make on your policy could ends up being null and void. That would mean you had effectively been paying your premiums for years for nothing.

Filed Under: Life Insurance

Time To Look To Russia For Insurance And Investments?

April 8, 2013 By

Over the last several months a number of emerging markets have seen something of a renaissance in growth and for the first time in a while there actually appears to be a degree of momentum behind this rally, rather than it being just another false dawn.

In the three months to rthe end of February the MCI Index showed promsing growth figures of over five per cent. While the emerging markets in South America and Asia have tended to hog the headlines the opportunities in emerging market closer to home in Europe should not be neglected.

In terms of European performance last year Turkey was without any doubt the star performer. The country’s growth was strengthened by strong domestic demand, coupled with its strategic links with the Middle East, leading to an increase in the country’s indsex by some 65% over the year.

So if you are invested in Turkey but are looking to diversify into other European markets where should you be looking? Larger countries like Poland and The Czech Republic still show little signs of growth, but the one country which appears to be standing out this year is Russia, which recorded growth of over 6 per cent in January 2013 alone.

Last yearthe contry saw reasonable growth of around 14% but as investors begin to look beyond Turkey for the next big thing many are suggesting that Russia could very well be it.

For many years growth in Russia has depended to a great extent on the price of oil and with the price of crude staying stubbornly above the $100 mark, it seems that prospects are good for the year ahead.

Like Turkey, Russia’s increasingly sophisticated and growing middle class is expected to be a key driver for growth in the country in the years ahead and the demand for infrastructure projects, particularlky in light of the upcoming World Cup and Winter Olympics is expected to fuel progress even more.

 

Filed Under: General, General Finance, Investments

Is It Safe To Access My Current Account From My Smartphone?

March 9, 2013 By

As demand for everything to be at our fingertips at all times increases, the popularity of not just internet banking but using your smartphone to access accounts has rocketed sky-high.No longer simply a basic data feed, it is now possible to carry out transactions and transfer money wherever you are thanks to the technology of smartphone banking.

However, with the cyber threat ever-present, you might be wondering how secure mobile banking really is and whether it’s something best avoided. We delve into the facts surrounding smartphone banking to see if there’s any need to be concerned.

Available facilities

Before looking at the risk presented by mobile banking, it’s important to understand that different types of account information present varying degrees of risk. For example, at the very base level, you may receive statements of your account balance via text, or notification alerts. As these are simply sent by SMS, this constitute no additional security risk whatsoever to your bank account.

At the opposite end of the spectrum, some banks allow you to log in to their full internet site, thus enabling full functionality of internet banking from your smartphone. Others prefer to adopt a middle ground, instead providing a specifically designed banking app which allows certain transactions to be carried out.

Some banking apps will permit transfers of money but unlike full internet banking, only to pre-approved recipients.

 Smartphone banking is becoming increasingly popular and is expected to continue to skyrocket

Security measures

Whilst smartphone banking is a desirable feature for many people, it is necessary to take precautions to avoid your account being compromised. The good news is that the banks also take your security very seriously and have a range of security measures to help you out. Some banking apps can only run on smartphones if nothing else is open on your phone at the same time. This may seem a bit prehistoric but this is actually a security measure. By not allowing access if any other programmes are open, you are protected against malicious hacker viruses which could sneak in silently in the background and run without your knowledge.

Banks play their part by not actually storing your current account data on the mobile device itself, but instead holding the information on a remote and secure data centre. This means that your smartphone will never retain information about your bank account.

Many providers have also started offering sophisticated anti-virus software to the customers that download their banking apps. Whilst anti-virus software is something most people associate more with their PCs than their smartphone, if you plan on accessing your bank account it’s a good idea to protect yourself as much as possible.

Other steps to take

Whilst all of the above may sound very reassuring, it’s still a good idea to do everything you can to reduce the risk. Some of the measures recommended by banks and experts are:

• Only get the mobile banking app software directly from your bank. Do not be tempted to download it from any other location as this may not be genuine and could contain viruses or spyware.

• Use the free security software your bank offers. Don’t be tempted to ignore it because it will mean additional passwords and security checks; you will be glad of it if someone tries to hack your account.

• Do not select the option which allows your phone to auto-complete your passwords and user names.

• Make sure you use a pin number and/or a password to unlock your phone. If you have the option to add extra pin numbers for certain functions, add them for anything which has the potential to expose your personal information.

• Do not purchase an ‘unlocked’ smartphone. Although they may be far cheaper, the process of unlocking the phone disables some of the inbuilt security features and increases the chance of viruses being successful.

• Do not leave your Bluetooth switched on if you aren’t using it. Leaving the network open leaves you exposed to the risk of unmonitored wireless activities.

Only downloading apps directly from the bank will ensure that you are not inadvertently falling victim to a scam

Conclusion

Smartphones are already playing an important role in finance whether it’s contactless payments or accessing your bank account on the move. As technology advances, the reliance on smartphones is likely to increase even further and the functions which are available will inevitably multiply. If you are looking for a new current account, picking a provider who already offers mobile banking is a good idea. By using a comparison site online (such as http://www.soswitch.com/money/current-accounts/) you can compare the different providers to see what each one has on offer, before clicking through to read about their approach to mobile banking in more detail.

Mobile banking isn’t any more risky than you make it so by making sure you only download trusted apps along with good quality anti-virus software directly from your bank, you can enjoy the freedom of being able to access your bank account on the move without compromising your security.

 Image credits: World Bank Photo Collection and IntelFreePress

Filed Under: Financial Services, General

How do payday loans actually work?

February 13, 2013 By

It’s not uncommon for the odd financial emergency to arise, and when this happens we can be left with little option other than to take out a loan. More and more people are starting to borrow from payday loan companies, such as liquidloans.co.uk. Payday loans are becoming more and more popular due to the fact that they are extremely easy to apply for and you can get the money into your account almost overnight. However some people are still confused by the whole payday loan industry, so, how does the borrowing process actually work?

Step one: you apply for your loan. You can usually easily complete this process online, you should check if the company has any listed requirements and whether or not you meet these requirements. The application process for payday loan companies usually involves filling out a form with your personal information and submitting it for review by the company. Step one should not take more than a couple of minutes, payday loan companies pride themselves on how quickly people are able to receive their loan.

Step two: await approval. Once you have sent in your application you are likely to have to wait for a the loan provider to approve you, after which they will get in contact via email or telephone. It is unlikely to take long, companies may have some specific requirements that potential borrowers have to meet but they rarely request to see anything else such as your credit history. You will also receive a contract that you must look over and sign, be careful to assure that you look over all the terms and conditions.

Step three: receiving your loan. Once you have applied, been approved for your loan, and signed any necessary contracts then the loans should be sent straight into your bank account. Once you have received your loan you are allowed to use it for whatever purpose you like, the loan provider is only concerned with your ability to fulfill the next step of paying back your loan.

Step four: repaying your loan. When you borrow your loan you will be provided with a time frame and an interest rate. You must pay the money that you borrowed back by a specific date, with the amount of interest charged paid on top. Loan providers are there to make money, they do so by helping you in a time of financial emergency and in return you have to pay the cost of borrowing – interest.

As you can see, the payday loan process is relatively simple which is why it is so popular. Pretty much anyone who is urgently in need of extra cash, or anyone who needs money to help cover an emergency, are likely to to choose to take out a payday loan than look to any other financial source, this is mainly due to the stress free timely process involved. The easy application process also offers the opportunity for people who have a poor credit history to secure a loan.

Filed Under: General, General Finance

Can Payday Loans Be Relied On?

February 6, 2013 By

Payday loans are short-term emergency loans. They are also known as payday advances and unsecured small loans. They are normally set up through another financial institution,rather than a bank. They are usually for relatively small amounts of money, designed to be paid back quickly.

Some of the main pros of payday loans include the fact that the application is usually processed in a day. Again, most of the lending  institutions do not need a credit report, although proof of your bank account and employment information are required. You can apply for payday loans loans in person, by  fax, or online, so they are very convenient from that standpoint. Payday loans are the easiest and fastest means of getting approved for the cash you want. Bank loans can take some time to process, even after you have been approved. The cash is deposited direct in your account usually within 24 hours of applying.

It can be very tempting to apply for a payday loan due to these advantages,  but there are also disadvantages. Payday loans are much more expensive than conventional borrowings. The interest rates charged by payday lender are very high, some would even say excessive. Also, the payday loan market is not well regulated, as compared to banks and for this reason they represent a much greater risk for the borrower.

If you fail to repay your loan on time, the interest rate will almost certainly increase and you will also be faced with severe penalty charges too. Therefore, if you are considering a payday loan, you should weigh up the advantages and disadvantages carefully.

To find our more about payday loans, please visit QuickLoan101 website or QuickCredit website or alternatively check out the detailed guidance on the subject at Moneysupermarket.com.

Filed Under: Financial Services, General
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