Guest Contributor on Money Questions and Answers Blog

How To Find A Reliable Buyer For Your Structured Settlement

A structured settlement agreement can never be altered once it has been made, preventing you from getting a lump sum amount when required during an emergency. But the law does allow you to transfer the rights of receiving the annuity to a third person if you wish to do so; or in short, the law does not deny selling of the structured settlement and obtaining money for it.

So whether it’s a medical emergency, an opportunity to buy a high value real estate or for even funding college education, you can sell the structured settlement and obtain the appropriate money for it. Obviously here the question rises of where to sell the settlement and to whom. This article outlines everything you need to know about finding a buyer for your structured settlement, how they operate, what are the costs involved and the legal formalities involved.

The definition Of A Structured Settlement Reliable Buyer

In order to prevent the recipient of a settlement squandering money and again ending up in financial trouble, the periodic payment settlement act was established in 1982, which presented the option for defendants to pay the agreed settlement in the form of annuities. Though this was a boon in one way, it was quite restricting for the recipients as the economic condition was ever changing. To help people out in such cases, few financial companies started buying the structured settlement and paid the lump sum amount to the recipient in return.

But during the 90’s the business took off so well, that a lot of them started to make unreasonable profits out of it by charging extra fees and undervaluing the original settlement amount. Hence the reliability of the buyers became questionable and the government had to intervene to make the process more transparent.

How To Compete In The Current Job Market

by Guest Contributor

If you were to believe everything that you read, you could be forgiven for thinking that the UK is in the midst of a significant economic recovery. While Britain may well be benefitting from improving business sentiment and job market, rising consumer confidence and a diminishing rate of unemployment. However, there are negative undertones that continue to restrict the potential for long-term growth. So even as international trade and foreign exchange activity continues to boom, not everything is rosy in the British economic garden. The same principle applies to the national unemployment rate, which fell to a respectable 7.2% during March. Alongside a rise in the national earnings average, this has triggered widespread optimism among job-seekers and those who are … Read more

Why A Point of Sale System Streamlines Retail Businesses

by Guest Contributor

Small businesses have a host of problems facing them now that weren’t even remote considerations 15 years ago. The foremost problem that small businesses face is how to balance online marketing with retail outlets. What products do you want to sell online? What products do you want to combine with both your physical and digital location? These questions are just the tip of what a small business owner thinks about. Sales can become a compounded problem when you only have one true inventory. You don’t want to risk selling out of an item and leaving customers waiting. You also do not want items to sit on your shelves. Finding a robust point of sale system can solve many of these evolving … Read more

ECN Brokers: Who, What and Why?

by Guest Contributor

The world of forex is dominated by jargon. With everything from currencies to broker formats having their own acronym, trying to navigate the forex world can be a bit of a minefield. Here, however, we’ve broken down one of the key acronyms: ECN.

There’s always a huge debate about who’s the best broker to use and why some types of broker are better than others. Many people swear by using ECN brokers, but why? Here, we try to find out:

What is an ECN?

Foreign exchange brokers come in a variety of shapes, sizes and forms. Due to the fact that the foreign exchange market is unregulated, there’s no set format for brokers, and many deviate from the norm.

ECN brokers are a great example of this. Instead of being a standard broker, they are an automated system that buys and sells orders, connecting major brokerages and individuals who can trade without the need for a middleman.

How do ECNs Work?

Instead of earning money from the spread, ECN brokers will make money by charging a small fee for every transaction they broker. In taking out the middleman, ECNs make it possible for investors from all over the world, in a variety of locations, to trade with relative ease and speed. To monitor the market, each ECN broker must register as a broker-dealer with the Securities and Exchange Commission.

What’s Good About ECNs?

An ECN will show you the very best bid and ask quotes available, scouring the market and multiple participants automatically and instantly matching and executing orders on your behalf. As well as being used at major exchanges during market hours, they are also widely used out of hours on the forex market by those with an online trading account.

Ten Top Insurance Payouts In Recent Years

by Guest Contributor

Whether claims are due to natural disasters or man-made ones, the insurance industry has had several huge payouts to make over recent years. This list sums looks back at some of the biggest insurance payouts.

The financial collapse – Billions

There has not been a figure set in stone as to the amount lost in the 2008 banking collapse, but billions of pounds is a conservative estimate. While the exact figure may still be unknown, what is known is the knock-on effect of bailouts and unemployment has caused the insurance industry to lose out in a big way.

Hurricane Katrina – £78 billion

A natural disaster of catastrophic proportions, when Hurricane Katrina ripped through the American south in 2005 – in particular New Orleans – it was a game-changer for insurance companies. In total, they had to pay out an estimated £78 billion.

9/11 – £25 billion

The September 11 terrorist attack which occurred in 2001, in New York, and destroyed the World Trade Centre’s twin towers is a tragedy that will hopefully never be repeated. Claims for the likes of business interruption claims, property damage and life insurance amounted to £25 billion in total – making it as expensive as it was catastrophic.

Swine flu pandemic – £1.24 billion

Originating in Mexico in 2009, fears of swine flu swept the globe as the year went on. In the UK, the threat was taken seriously and millions of doses of anti-virals were produced for the epidemic. In the end, 457 people in the country died with a total cost of £1.24 billion recorded.

Affordable Home Insurance Checklist – Are You Paying too Much?

by Guest Contributor

Periodic review of our personal finances extends to many areas. Portfolio rebalancing helps your investments match changing time horizons and risk tolerances. As our families grow or coverage options change, we must review our health insurance for the best choices.

Home insurance is an essential cost that may not receive the same attention. Houses are not as dynamic in comparison to investments or healthcare. Unless moving, many homeowners rarely check their home policies.

However, checking your home insurance coverage for overlaps or excess coverage can yield instant savings. The process is also simple and time efficient with a potentially big ROI.

First time buyers and existing homeowners alike can benefit from a few practical steps.

Here is a home insurance checklist to get started:

Choose a Sensible Deductible

A sensible deductible results in month over month savings that is leverage for:

Investing
College Savings
Debt Reduction
Meeting Monthly Expenses

You can speak with an agent to discuss the impact of raising deductibles on premiums. A practical deductible protects homes yet leverages savings to improve personal finances. Even in the instance of a small claim, the time value of money may pay for itself.

The time value of money as leverage: A dollar is more valuable today than at some date in the future, which is seen in inflation or other economic concepts. The monthly savings from a higher deductible are leverage to increase investment contributions or chip away at principal on debt.

Investment Manager Elliott Broidy is among the money managers known to consider money’s time value when making portfolio decisions. The same approach has everyday value to consumers, as well.

Savings on interest expense from credit cards or compounding investment returns can exceed out of pocket costs on home insurance claims.

Each situation is unique, but you may consider working with an agent to discuss the value of each insurance rider beyond catastrophes.