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Protect your identity like it’s your home

Protect your identity like it’s your home

    “…Most people have a good idea of how to protect their houses from burglars, but few know the best ways to protect their identity and prevent identity theft.” Money for the Rest of Us has a fantastic article that draws parallels between protecting your identity from identity thieves and protecting your home from robbers.

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    Don’t open your door for just anyone. You wouldn’t let just anyone into your home, so don’t let just anyone have access to your personal records. Check with your employers, school, and financial institutions to see what documents they put your personal information on. Some schools still use Social Security numbers as the student ID number. And many employers put your entire social security number on your pay-stub. Ask to see what alternatives are available.

    Change your locks. If you suspect someone has a key to your home or if you’ve moved recently you would change your locks. The same goes for passwords. If you suspect something, change your passwords immediately. Moreover, change your passwords every 4-6 months. (Think about it, if you could change the locks to your house for free you might do this more frequently, too).

    Don’t hang $100 bills or fancy jewelry in front of the window. That’s right- you wouldn’t hang all your valuables in front of the window so thieves know exactly what you have and where they can find it- would you? I think not. Throwing your important documents into the weekly trash is just like hanging cash in the window. Identity thieves know exactly where where to find all of the information they need – in your trash. So, shred any paper with you personal information on it– name, telephone number, address, bank’s name, account numbers, SS#, etc. Remember, even junk mail needs to be shredded since it often contains credit card applications that can easily be filled out in your name.

    10 Ways Protecting Your Identity is Like Protecting Your House – [Money for the Rest of Us]

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    Last Updated on March 29, 2021

    Life Insurance: A Secure Way To Protect Your Future.

    Life Insurance: A Secure Way To Protect Your Future.

    Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

    Importance of getting a life insurance

    No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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    On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

    Choosing the right insurance plan

    If you’re about to select an insurance plan, you should consider some important factors:

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    • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
    • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
    • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

    Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

    Differences between life insurance plans

    Here’s a short brief of some plan categories you can choose according to your needs:

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    • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
    • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
    • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
    • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
    • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

    Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

    So what are you waiting for? Plan for your future and live a happier and carefree life today.

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    Featured photo credit: aryehsampson.com via aryehsampson.com

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