Month: March 2021

Online term insurance is a hands-down way to secure your family’s financial future. Ever since its evolution in the year 2009, it has helped many families through their financial problems and taken charge of covering their economic uncertainties. 

An Online term plan offers a hassle-free, stress-free and secure future with numerous benefits. If you have been planning to obtain one for your family, make sure to consider a few essential factors first. 

Here are the 5 things to consider when buying online term insurance: 

Start with the basic version.

The main reason why people opt for online term insurance is to secure their family’s financial future. A base policy ensures the same. In case of your death under any circumstance, it promises to cover your family’s financial stability. Although other procedures may be equally luring, they are designed for specific situations that may not always come in handy. That is why you should start with a basic policy first to ensure the primary aspect of it. 

Don’t hide information from the insurers. 

Many people have resorted to lying to claim their desired insurance plan. But that is a dangerous way of dealing with this. If you lie about your health or your family’s health to the insurer, it can impact your premium plans gravely. Whether you have undergone operations, or your family suffers from a severe illness, be specific and honest to your insurer. That is how you can gain premiums for your online term plan. Remember to consider both your past and present illnesses when telling your insurers about your health. Such information is essential. 

Single premium policies are not a good idea. 

Single premium policies are restrictive. Thus, when your insurer asks you about which plan you would like to buy, do not choose a single premium policy for its affordability. They will not render much use. Instead, go for the yearly premiums to prove to be more useful in the long run. 

Buy the plan as early as possible. 

In most cases, people tend to take their own time before buying the online term plan. The truth is that the more you delay, the more premium prices keep increasing. Since no specific age is specified for purchasing the plan, you should accept it as early as possible. So, you can have a secure future in your hands and be care-free from thereon. 

Do not overthink 

There is no need to overanalyze the situation and hesitate upon buying an online term plan. They are highly reliable and affordable for your future. So, it is wise to buy the plan as soon as possible without a second thought. Remember, premiums can increase between 4-8% every year. So, what is the delay worth? 

The Bottom Line 

 Term Insurance Plan is a potential solution to all your future financial problems. If you have a large family to take care of, this plan will help secure their future without hindrance. So, why keep waiting? Get your hands on one right away to have a stress-free life ahead. 

Businesses and other organizations may need extra space from time to time. Since building new structures may be extremely costly and time-consuming, temporary steel buildings are often the best option that a company can choose. Whether they need for temporary buildings is for production, storing raw materials or finished goods, etc., an option is probably available

Typically, temporary steel buildings are made of an aluminum frame and a roof made from 40 mm steel; This offers better insulation compared to PVC-covered temporary shelters. Thanks to their insulation, they work perfectly for buildings in which staff work, or there is storage or production of temperature-sensitive items.

People choose semi-permanent buildings, especially made of steel, for many reasons, and this article looks at some of them.

Easy Installation and disassembling

One of the most significant benefits of temporary steel buildings is that they are fast to assemble and equally fast to dismantle. As such, they make perfect relocatable buildings for those organizations that need extra space for a short period or need to relocate their structures afterward, maybe to set up operations in a new location. Construction firms, businesses in need of temporary showrooms, or short-term processing structures can find temporary steel buildings very useful. Due to the ease of assembly and later disassembly, they reduce costs because there are no material losses nor any need to rent permanent structures.

Provide excellent stability and protection

The materials used to make temporary steel buildings are sturdy and make the structure stable. Aluminum is a light yet strong metal so using it for the frames is a great choice. Additionally, the steel roofing and wall cladding add to the stability of these semi-permanent buildings. Moreover, the insulation from the roofing material and wall coverings keeps out the elements offering protection to anything that may have been stored in them.

If you need the temporary buildings for any temperature-sensitive processes or will employ people working in them, you can hop over to these guys and place your customized order. Smart Space is the leading provider of temporary building solutions in the UK and has experience spanning over 30 years. Spart Space will deliver and help you install the structure so your operations run smoothly.

They are cost-effective space solutions

Temporary steel buildings are affordable solutions for individuals, businesses, and other users. Firstly, those in need can hire these semi-permanent buildings for a short period on pre-determined hire agreements when they need them; hence avoiding any need for permanent structures they may not use for long and which are costly to put up. The users can also choose to buy the steel structures with a buy-back option agreed with the seller.

Another way relocatable building saves costs is by making it possible to move them from one location to another. In this way, the business can operate without any space problems across its various sites. Also, it avoids environmental harm often associated with permanent buildings.

Additionally, temporary steel buildings have clear panels as part of the roof cladding which allows for natural light, thus cutting lighting costs. The insulation also reduces excess heating or cooling bills, saving on air conditioning costs. Besides, the erection of these buildings does not require any foundation or footings.

Conclusion

Other than the reasons above, temporary steel buildings are customizable to suit their users’ needs, making them a good choice. They are also versatile and allow the owners to put them to multiple uses eliminating the need for new buildings every time a different need arises, such as storage, manufacturing or even a showroom.

One of the biggest hurdles for contractors, regardless of experience, is deciding between charging an hourly rate or a daily rate. On the one hand, hourly rates can be more financially beneficial, but on the other, daily rates make things streamlined and straightforward.

There is no particular gold standard for contractors to value their time and expertise, as both rates have their advantages and disadvantages. The only real constant is the need for contractors to do their own research, and weigh the available options’ pros and cons.

Read on for a guide on contractor rates, so that you can make this all-important decision better informed and improve your take home pay.

Research your industry

One of the core parts of making this decision is research. It goes without saying that industries can vary significantly from one another, with contract hire rates being one key difference. The price you end up charging will often dictate whether you charge an hourly or a daily rate, so it is vital to have a good idea.

To ensure your rate is reasonable for your sector, assess what the average hire rate is for contractors in your industry. Not only will this give you a good feel for what price is acceptable, but you will also be able to use this information to put yourself in a competitive position for securing work.

Also note that you could decide to charge a fixed rate. As opposed to hourly or daily rates where you charge for your time, a fixed rate is simply quoting for the job as a whole. It can sometimes be quite difficult to accurately assess how much time a contract will take and how much you should charge, so using this kind of rate might not be suitable for less experienced contractors.

Be careful not to mischarge

Doing research into your industry’s rates is invaluable, as without doing so, you risk quoting the wrong amount for your services. By quoting a low price, you might well find yourself with lots of work, but you risk selling yourself short. Competitive rates can be a great way for newer contractors to get started, however too low waste your time. Charging too much can have the opposite effect, with potential clients dismissing your quote at first glance.

While awareness of the average hire rates in your industry is undoubtedly a good thing, you should keep in mind your skill and experience level. Contractors that excel in their field are often worth the premium fee, so don’t think you must necessarily stick to the average rates if you can bring higher quality service to the table.

The pros and cons of an hourly rate vs. a daily rate

After doing the research into your industry, you should have a general idea of what you will charge. With this in mind, deciding upon an hourly rate vs. daily rate is the next step.

Daily rate

While only a rule of thumb, contractors looking to charge over £40 an hour are generally best suited to charging a daily rate, though do keep in mind that it isn’t always as simple as that.

True to the name, a daily rate will see you paid for a number of days, rather than a number of hours. This can be ideal for contractors looking for simplicity in pricing or prefer to have less pressure from a client mindful of their budget.

From a client’s perspective, a contractor charging a daily rate can be appealing as time is much more flexible. Should they need to ask for overtime, they can do so without worrying about a heftier bill at the end of the job. Additionally, a higher daily rate can be less psychologically off-putting for a prospective client, in contrast to a high hourly rate.

The main downside for daily rates is, unfortunately, the ease with which contractors can be taken advantage of under the system. As the price is for the day, there are instances where a contractor could be asked to put in unreasonable amounts of overtime. However, the easy fix for this is to charge an hourly rate, where you would at least be compensated should overtime be needed.

Hourly rate

As it stands, hourly rates are the most common rate charged by contractors. They reduce the likelihood of being asked for extra hours, and increase earnings should they be required. If the work does need overtime, the manager would need to give the go-ahead, which means you won’t typically have to worry about last-minute additions to your workload.

Broadly speaking, hourly rates are the rate of choice as it is expressly clear what is expected from everyone involved. Provided the contractor sticks to the agreed time schedule, it is easy to form a good working relationship and breeze through the contract with few, if any, issues.

Which to choose?

There is no one size fits all answer to this question, as much as we would prefer otherwise, since it is almost entirely dependent on your situation.

Hourly rates can be ideal, as all parties know exactly what is expected from the beginning. Provided the time schedule is met, and progress is in line with what the client expects, using this rate can be fairly straightforward.

Conversely, a daily rate offers a good degree of simplicity, and lessens the time pressure faced under an hourly rate. Hourly rates are sometimes criticised as providing an incentive to work at a slower pace, which isn’t the case when charging a daily rate.

Ultimately, the decision between charging an hourly rate vs. a daily rate is best left to you, given how dependent it is on your situation and how you prefer to work. Provided you do your research and keep client preferences in mind, you will be able to choose the best fit for you and your business. Remember, you aren’t locked into a particular rate, you can always change from contract to contract as necessary.

Various lifestyle disorders are not only becoming rampant in the present time, but also affecting the younger population more than ever before. Though changing the lifestyle habits and adopting healthier practices go a long way in keeping you fit, it is necessary to be at least financially prepared for any eventualities. 

So, even if you have a family health insurance policy already, getting a critical illness insurance policy would be a sound decision on your part. After all, the higher cost of treatment for the critical illnesses are better covered by the latter. And, if you’re considering a critical illness plan, here are a couple of things you must know about it.

• Critical illness policy doesn’t replace family health policy

Critical illness policies offer lump sum payments when the policyholder gets diagnosed with a disease or ailment that the policy covers. It doesn’t cover daycare treatments, hospitalization expenses, and so on. While the critical illness policies complement your usual family medical insurance policy, it does not substitute that in any way.

• Critical illness policies have the survival cause

Health insurance plans have a specific waiting period, and the same goes for critical illness policies. However, the critical illness policies also have the added caveat of the survival clause.  So, the survival clause becomes effective when you’re diagnosed with critical illnesses. Usually, there is a thirty-day survival period. However, there are several plans that don’t have this clause. You just need to look for a plan that is free from this clause.

Read the Policy Documents Thoroughly

If you’ve made up your mind about a policy, go through the details given in the policy documents. While doing that, pay close attention to the following factors:

• Inclusions

Different insurers provide coverage for different ailments. You can’t just look at the number of critical diseases covered under a policy and go for the ones that have the highest number. You need to know the precise definition of each disease for the insurer. For instance, a critical illness plan that covers cancer might only let you claim after the disease has attained a certain level of severity.

•  Exclusions

Understanding what the policy does not cover is as crucial as knowing the illnesses that it covers.

• Claim Process

Know about the claim process in advance from your insurer because it will help you remain prepared beforehand. You need to learn which documents you need to submit and the formalities related to filing insurance claims.

• Benefits

Apart from understanding the core benefits of the critical illness plan, you should look into the added facilities that you will get from an insurer. Besides, it helps to figure out the benefits you can receive at the time of renewal for the claim-free duration.

• Coverage Age

Find out the age limit until which the critical illness plan covers you.

Summing Up

The lump sum amount that you will get from the critical illness plan will be of immense help in your time of need. So, if you still haven’t taken the policy, it’s high time you do. After all, the last thing anyone would want in such difficult circumstances is to worry about funds.