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Replace income for dependents If people depend on your income, life insurance can replace that income for them if you die.
Mortgages investing in the future
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Property is one of the biggest investments you could ever make in your life, and unless you have a great deal of money you will have to take out a mortgage to pay for it. Mortgages are a long term loan that is used to pay for houses and other properties that can be applied for by anyone who is over the age of eighteen and in employment. However there is an application process that must be gone through and successfully completed in order for mortgages to be granted.
When you are looking for mortgages you should be aware of certain information that you will have to supply and prove in order for your application to be successful. Here is what you should expect to be asked:
Your personal details and the personal details of anyone applying with you name, date of birth etc. These are asked so that the lender firstly knows who they are dealing with.
The mortgage amount all mortgages are different amounts so you should first find out the price of a property that you want to get a mortgage on. Many people when applying for mortgages dont always have a particular property in mind but a price range that they could afford to pay.
The term of the mortgage this varies between mortgages and lenders, although the average term is 25 years, however this can be as low as 15 years and as high as 35 years.
The type of mortgage you are looking for. There are many different mortgages on the market from repayment to interest only and each one of them has its benefits and drawbacks. You need to choose the one that suits yourself the best.
Your employment status this is checked and recorded as anyone applying for a mortgage needs proof of income from which they will be making their repayments. Do not be tempted to inflate your salary as this will be found out as you will asked at a later stage to provide your lender with wage slips and even bank statements and any false information will be found out.
Details of your credit history. You can put any information relating to your credit history when you are applying for mortgages. Your credit score will be used to assess your credit worthiness when making any financial application, and each time you apply for a mortgage it will be recorded on your credit history.
There are other details that will be required when applying for mortgages, but these are the main points that you can expect to be asked.
As soon as you are successful in your application you can go ahead with your mortgage offer and put a bid in for the property that you wish to buy. This is then either accepted or rejected by the seller. If your offer is accepted you can then inform your solicitor who will then start the proceedings and inform your mortgage lender. You will then start to pay your mortgage payments one a mutually agreed date. You will then continue making these repayments until you either pay off the loan amount, or you decide to move house by which time you might be looking at other mortgages on the market. Some people even decide to look at different mortgages for the property they are in if they want to re-mortgage or find a better repayment rate, however it should be noted that many mortgages have a set period of time in which you are tied to that particular mortgage, after which you can look elsewhere.
Mortgages are a big investment so you should seek help from the professionals. Here at Go Direct we have online mortgage advisors such as Jason Jones who are available to guide you through the process of choosing mortgages to find the right one for you.
Life Insurance Fat Or Thin - Don't Let It Cost You
By Catherine Harvey
It's a well known fact that life insurance companies have guidelines as to the risks they and their customers are going to be taking when embarking on life insurance schemes. It's an obvious statement to make that they want to protect their own assets and are concerned about insuring people who already have long term or chronic illnesses diagnosed. They call it wanting their customers to have long, healthy lives but whatever.
This is why it is absolutely essential to disclose every possible ailment on your life insurance application forms. It may increase your premiums slightly but if they can find a way out of a payout then they will and there's no point in making it easy for them.
Another thing that life insurance companies take into consideration when working out your premiums is your weight and build. They possess their own set of, somewhat outdated, guidelines that suggest healthy weight limits for men and women of different ages. Fall outside of these guidelines and you will see your life insurance premiums soar.
However, the press is full of advice about how to tackle both ends of the problem - obesity and anorexia. Solve these and not only will we all be that little bit healthier but also a little richer. Obesity is, as far as doctors are concerned, a fairly straightforward problem. For all the people that claim their obesity is due to thyroid, hormone or metabolism problems, very few are, in fact. And these can mostly be solved with medicine.
For the vast majority, obesity is due to putting too much food in the face and not taking enough exercise. And one of the biggest problems to overcoming this is will power itself. You cannot buy will power and the person that makes that possible will be very rich indeed.
Various drugs come on the market aimed at reducing obesity and are prescribed through doctors. Only prescribed in extreme circumstances where the extra weight is life threatening, these drugs come with some very nasty side effect. Namely, uncontrollable diarrhoea. Still people see it as a miracle cure, they continue to eat and think the doctor will put it right by prescribing pills to make the weight go away.
An over the counter product is now available that is half the strength of the prescribed pills but available to all. The idea is that you take three pills a day with meals and if any part of that meal contains over a certain amount of fat, that meal will pass through you rapidly and without warning. The manufacturers recommend that until you get used to this event, or until you resist fatty food, you should always carry spare clothes with you!
Now resisting fatty food is not always easy. God knows, I love a regular dose of chocolate and the occasional bag of chips but I know full well that if it was that or opening my bowels in public, I know the chips and chocolate would go first!
Does running with such urgency to the toilet not constitute a health risk, particularly in a restaurant serving greasy food? Slippery floors etc? Would patients on these drugs increase their life insurance premiums thus?
The cost of this so-called 'wonder drug' comes in at approximately one pound per day. IF you follow a strict diet and exercise you can lose 3lb a week instead of the 2lb you would lose on a normal diet and exercise programme. Is it worth it I ask myself. You could easily lose that extra pound a week by slightly reducing portion sizes or, as a more entertaining and much less messy method, have one more round of sex!
For those at the other end of the spectrum comes higher life insurance premiums for the severely underweight - the anorexics. It is widely debated whether or not anorexia is a disease of the mind or body and, speaking from experience, it is very difficult to tell.
I don't believe you are born with any particular gene that would develop into anorexia later in life but you can, from a very early age, suffer with such low self esteem that events in life bring you to such a low ebb that you turn on yourself. Is anorexia brought on by depression or do you get depressed because you do not have the nutritional basis to think straight? An argument that will go on for some time.
However, some preventative measures are being put in place to stop the up-coming generation of young girls from succumbing to this feeling that they have to be underweight to be worthy people. The French government are leading the way in banning all advertising that promotes anorexia. Mostly aimed at websites, fashion magazines and advertisers, anybody seen to be recommending ways of losing excessive amounts of weight will be punished with fines up to 36,000 pounds and/or jail terms of up to three years.
Hopefully, this move will ease some of the pressures that young girls feel to conform to a certain unrealistic and unhealthy size. The rest of the world would do well to follow suit.
Health expert Catherine Harvey looks at ways to reduce life insurance premiums.
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