Top Reasons to Sign Up for a Life Insurance Policy

How many of you have signed up for life insurance already? Many of us tend to put it off, but the sooner we buy one, the better it is for us. Life insurance costs rise as we grow older, so it is better to buy the policy when we’re younger. The type of premiums we choose does affect our overall expenses, but age and health conditions are also important factors.

If you still haven’t bought life insurance, here is why you should start considering it.

Lost Income Replacement

Life insurance can replace the lost income and provide financial help to your family should you pass away either naturally or in an unfortunate incident. But ensure that you buy adequate coverage, enough for the average monthly expenses of your family.

Burial Arrangement Costs

Burial expense costs can calculate to several thousand dollars. Though you can pre-pay for the arrangements, there are certain risks involved. A better way to cover your expenses is to buy life insurance. This lifts the burden off your family and you, and offers a more secure guarantee.

Debt Repayments

Still not debt free? Should you die unfortunately, your family members would then have to pay on your behalf. If they fail to do so, debt collectors might make attempts to get your assets, and leave behind none or very little money for your family. However, if you have life insurance coverage, your debts would be taken care of without your family having to spend any money.

Affordable Coverage

Think life insurance is too expensive? Actually, it isn’t, but you have to plan smartly. And this begins by signing up for the policy earlier on. Opt for level type premiums because they usually incur lower costs in the long run. Choose longer waiting periods and shorter benefits period to reduce premiums further. And if you want more reductions, then sign up for a plan with an affordable insurance provider such as FreedomInsurance.com.au/

College Planning and Expenses

Haven’t yet saved for your child’s college education? Life insurance is actually a feasible option for you then, supplementing your savings. If you child takes a loan, then you can repay the debt as well with insurance proceedings.

Cash Cushion

Life insurance can be divided into two main types: term life insurance and whole life insurance. The first of these, remains in place for a specific time period. Whole life insurance, on the other hand, expires only if you cancel, and allows you to build cash value.

If you opt for whole life insurance, you also enjoy a cash cushion, which you can use anytime you want.

Estate Taxes

Generally, if someone dies, the heirs have to pay inheritance and estate taxes on all received assets. These tend to add up to a huge amount, but if you have signed up for life insurance policy, the cost can be covered.

Business Planning

Life insurance is extremely valuable for entrepreneurs, providing coverage for all your obligations. If you’ve partnered up with someone, both of you should sign up for a plan. This ensures that no one has to bear heavy financial costs in case of a mishap.

Is the Art of Gold Coin Collection Still Alive in Australia?

Yes – the art of collecting gold, and even silver coins, is still practised in not just Australia, but across the globe. Why? This is so because silver, gold and other precious metals are a safe haven for your investments. They are the best means to diversify your portfolio and ward off risks. Generally, gold responds differently to various market conditions and usually, the value doesn’t drop, which makes it the perfect choice if you’re considering a nearly risk-free investment.

A bit of history

Gold has always been treated as precious since the old days. The metal first took the shape of a coin during the 643 to 630 BC era when the Lydians started producing them for the very first time. In those days, the coins were in a crude form made from a pale yellowish mixture containing gold and silver, referred to as electrum. Their composition was similar to alluvial deposits found in the beds of River Pactolus which ran through the capital city, Sardis.

In 560 BC, the Lydians learned to separate gold and silver, and started producing coins from both metals.  Later on, the Celts began to inscribe coins when they lived in Britain.

Through the centuries, gold evolved and was often used for trade until paper currency was invented.

Australian Gold Coins

Gold coins are a popular form of investment in our country. Offered in various weights, sizes and purities, gold coins are produced by different mints and come in various designs. Some coins feature a design of notable historical events, whereas other focus on the wildlife or landscapes. Many Australian gold coins are inscribed with designs depicting native species of our country.

Most of Australian gold coins are made by Perth Mint, the largest metal enterprise which distributes their products across the globe. The total exports are worth $18 billion including both coins and bars.

Popular Gold Coins

Gold Stackers has reported that the most popular gold coins from a collector’s point of view are the Australian Gold Kangaroo and the Australia Gold Rooster coins. The Australian Gold Kangaroo coin is a favourite known for its quality and craftsmanship. Produced by Perth Mint, the design of this coin is changed annually so as to offer greater choice and diversity to collectors. A 1-ounce Australian Gold coin features a kangaroo on one side and Queen Elizabeth II portrait on the other side. The coin contains 999.9% fine gold and has a face value of $100.

The Austria Rooster coins also depict a Queen Elizabeth II portrait and a rooster. Offered weights range from 1/20^th ounce to 10 ounces.

Tips for collecting gold coins

Here are some quick tips for buying and collecting gold coins.

·       Gold coins are sold by many dealers. Compare prices but prioritise creditability and reputation of the dealer over rates.

·       Try to buy 1 ounce coins. Higher premiums may be associated with other denominations.

·       If you invest in rare coins, verify the authenticity through professional grading services and obtain a certificate.

Got some money to invest? Five ways to make it work harder

The past decade has been a difficult one from an investment perspective. Tough economic conditions meant fewer of us had spare finances to invest in the future, and even for those that did, low interest rates made it a challenge to find an investment that would generate a reasonable return.

This has led to a rise in alternative investment ideas, but has also thrown the spotlight on one of the oldest strategies of all. If you have come into a little money and are uncertain what sort of investment strategy to follow, here are some ideas.

1) Gold remains the safest investment

Today’s currencies might not be measured against the “gold standard” but the fact that we still use the phrase to define the ultimate in valuation tells you all you need to know about the precious metals market. When all else fails, gold holds its value and enjoys steady appreciation.

You can buy gold in a variety of forms, from collectible coins to traditional gold bars weighing anything up to a kilogram, and this website will tell you everything you need to know about how to do so.

2) Don’t overlook the stock market

Investing in the stock market might sound a little 20^th century, but plenty of people are still doing so today, and enjoying success. Nobody is suggesting you should invest everything in stocks and shares, but by trickling a little money every year into some carefully selected investments using a technique known as dollar cost averaging, you can limit your risk and come out with a tidy profit.

Even if you don’t know much about the stock market, there are virtual brokers, sometimes known as robo advisors that will help you make the right choice.

3) Real estate

Recent years have seen an explosion in private landlords, as individuals have sunk their money into investment properties. The arguments in favor are compelling – after all, this is an asset that will appreciate in value and will also bring in a healthy monthly rental income. Surely that’s a win/win?

That’s true as far as it goes, but bear in mind that being a landlord has additional cost and hassle factors that other investments do not. You’ll have maintenance and repair issues to deal with, as well as the potential risk of problem tenants. Also, real estate is not at all liquid, so you need to be comfortable with the fact that your money is tied up for the long term.

4) Invest in yourself

Your biggest asset could be yourself. Invest money in getting better at what you are good at, both personally and professionally. You won’t just be making yourself more marketable, you’ll also experience the benefit of improving yourself finding out what you are really capable of – and ultimately, that is something you can’t put a price on.

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In the final analysis, it is not a case of choosing from the above options, but of spreading the risk and investing money as widely as possible. That allows you to get the best from all worlds.