April 12, 2019 | Home Improvement
 

Day: April 12, 2019

How To Choose the Life Insurance Policy That’s Right for You

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No one likes to think about leaving loved ones behind, but it’s important to be prepared for the unexpected. When you purchase life insurance, you are safeguarding your beneficiaries against financial burden in the event of your death. There are many different policies to choose from, though. How do you know you are choosing the right one? The following tips can help you make a good decision.

Determine How Much Coverage You Need

The first step is deciding how large a policy you want. The amount of coverage you secure can depend on several factors:

  • Income
  • Number of dependents
  • Total debt

A qualified financial planner is best equipped to help you sort through these factors and come up with a dollar amount. In general, however, you should expect your policy to cover 5-10 times your annual salary.

Choose the Best Policy Type

Two concepts to consider when deciding on the type of life insurance Elk Grove CA, you need are death benefit and cash value. The death benefit is the amount that is paid to the beneficiary of the policy, whereas the cash value is the total of the premiums that have been paid, minus any processing fees charged. As the name implies, a death benefit is only payable upon the death of the policyholder, assuming the account is in good standing. Cash value may be used through a policy loan or by reducing a portion of the policy while the holder is still alive.

A whole life insurance policy offers both death benefits and cash value but can be very expensive. Some permanent policy types, such as universal life policies, allow flexibility with premiums by letting you pay part of it with the amount you have accumulated or adjusting the payout amount. Term life insurance offers a death benefit only, which may be the best option for those who are younger and in reasonably good health.

Purchasing a life insurance policy protects your dependents in the event of your death. It’s good to be prepared, just in case.

Understanding Residential Cargo Elevators

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There is little doubt that businesses the world over will always need cargo lifts and elevators in their commercial buildings. What may be less obvious is the increasing demand for such equipment in private or other residential homes.

Specifications

Unlike traditional large, indoor cargo elevators, many residential material lifts are installed on the outside of the home. Small and deceivingly strong, these lifts have been known to carry 1,000 pounds or more of material. Their simple, open design can withstand any weather, will not take up much space, and are placed next to external porches or stair landings for easy access. They should also have an aesthetically pleasing design to help add value to your home.

Safety

Traditional elevators are well-equipped with a number of safety features to prevent injury, and residential cargo lifts should be held to the same standards. The main cables are among the most important factors in ensuring safety, so be sure to note the recommended weight maximum on the lift, as well as the breaking strength of each cable. The cable brake should also be noted and understood, as this is the component that will lock the lift in place if it begins to fall.

Benefits

In addition to adding value to your home with a more unique feature, the safety benefits of a cargo lift far outweigh any risks. Moving furniture in or out of a home is daunting, and involving stairs can be dangerous and even deadly. As the population continues to age, the danger branches out to other smaller yet no less difficult everyday items that need to reach the top floors of your home. Installing a cargo lift is the best way to ensure the safety of the heavy lifters in your household.

As weather patterns and population growth continues to require additional, taller homes, an easier method for moving heavy furniture and materials vertically will increase in demand. Understand your home’s needs to ensure you make the right decision in installing your own residential cargo lift.…

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