Tag: investment

What Is Insurance and How Does It Work?

Cyrus Rose

Equine Insurance is a way to protect against financial losses resulting from unexpected accidents or events. It reduces risk by transferring it from the policyholder to the insurer.

Insurance

Insurers charge a premium in exchange for the promise to pay a specified amount in the event of a loss. They often invest the premiums to generate income.

The peace of mind that comes with insurance is one of the most valuable assets a person or business can possess. Whether it’s protecting against financial loss or legal troubles, insurance gives us the confidence to navigate life and business with greater ease.

In the midst of uncertain times, it’s essential to protect what matters most with peace of mind coverages like health, life, home, and auto. This allows you to focus on your goals and priorities without the worry of unexpected events derailing your finances.

Insurance is an agreement between a policyholder and an insurer, where the policyholder pays a monthly premium in exchange for transferring certain risks to the insurance company. In the event of covered losses, the insurance company fulfills its promises by paying claims to help policyholders recover or replace their lost assets.

With this reassurance, policyholders can focus on their personal and professional goals without the constant burden of financial uncertainty. This is especially true during turbulent economic conditions, when many individuals are looking to build resilience by increasing savings, developing emergency plans and seeking advice from financial experts.

According to a recent survey, the coronavirus pandemic has shifted consumer’s mindset about insurance protection. More people than ever are considering taking out additional cover to help them cope with unexpected financial challenges.

The Travel Peace of Mind Package is a supplemental coverage included in your vehicle’s insurance policy that offers accidental death and dismemberment benefits for you and your passengers when traveling abroad. This is a great way to feel safe and secure during your next trip, knowing you are protected in the event of an unfortunate accident or natural disaster.

Peace of Mind coverages are available in a variety of forms and plans to meet your specific needs. Whether you are looking for a comprehensive plan to prepare for the unknown or a basic plan to protect against the everyday, Advantage Group can find the perfect insurance plan for you. Contact our agency today to get started! Special enrollment periods are usually open around major qualifying life events, including marriage, divorce, having or adopting a child, a change of address, a job loss, or a move to a new house. Some policies also offer year-round enrollment options.

Reliability

As a business based on risk management, the insurance industry is fundamentally reliant upon being reliable. This is achieved through the actuarial process of ratemaking which tries to understand and predict the probability of future events. This helps determine how much to charge in premiums and takes into account the variance between statistical data and projected outcomes. The resulting pool of money collected from all policies is then invested in order to increase the overall amount available for pay outs when claims arise.

This is known as the profit margin, which is calculated as earned premium + investment income – incurred loss – underwriting expenses. By adjusting their rates regularly, pooling risks with other insurers, investing assets, following state regulations and employing sound underwriting and claims handling practices, insurers are able to provide a reliable service to the people they serve. For many, insurance is a vital part of their financial portfolio that provides peace of mind knowing that should the unexpected happen, they are covered. Qualifying life events (QLEs) may allow you to enroll outside of the standard open enrollment period, depending on your policy and insurance provider.

Assumption of Risk

Many people enjoy participating in dangerous activities to experience the adrenaline rush. This includes activities like riding roller coasters, going to trampoline parks, sky diving and more. However, these activities can be risky and may result in injuries. When a person is injured during these activities, the defendant may use assumption of risk as an affirmative defense to avoid liability for the injury.

Assumption of risk is a legal doctrine that bars a plaintiff from recovering damages if they knew of the dangers of the activity and voluntarily exposed themselves to them. This is an exception to the general rule of comparative negligence, which allows a victim to recover compensation even if they are partially at fault for their own accident.

A defendant may claim assumption of risk when they are trying to escape liability for an injury caused by their negligent actions. In some cases, assumption of risk is expressly stated in writing and can be evidenced by a signed waiver or contract between the plaintiff and defendant. In other cases, it is implied by a plaintiff’s words and conduct. For example, if a person is injured by a foul ball at a baseball game, courts have held that the person assumed the risk of being hit by a ball when they decided to attend the game.

While the law in this area is unclear, a successful assumption of risk defense typically requires clear and direct evidence that the plaintiff understood the inherent risks of the activity and voluntarily exposed themselves to those risks. Generally, such evidence is a written waiver or contract that clearly states the risk of injury.

While assumption of risk is an important part of the law, it does not protect against negligent acts that are unforeseeable. For example, if you are hurt while driving on an unsafe road, assumption of risk may not shield the at-fault driver from liability. For this reason, it is vital to have an experienced personal injury attorney on your side to fight for your rights. An attorney can help ensure that the insurance company is not using assumption of risk as a means to avoid compensating you for your injuries.

How to Start a Career as a Realtor

Garfield Fitzgerald

Realtors can save home sellers a lot of time and stress by handling all aspects of selling a property, including listing a property on the Multiple Listing Service, open houses and showings. But their services come at a cost – hefty commission fees.

Realtor

Agents who join NAR must pay a membership fee and agree to abide by the association’s Code of Ethics. But are their services worth the high price tag? For professional help, contact Your Home Tampa Bay.

Despite what some may believe, you don’t need a degree to become a Realtor. The real estate industry values hands-on experience and local market knowledge just as much as formal education. However, if you’re considering a career in real estate, getting the right education can help you stay competitive and relevant.

Several colleges offer programs that are specific to the real estate industry, providing a thorough overview of real estate practices, laws, and regulations. These programs also prepare students to sit for their state’s licensing exam. Other degrees that can benefit aspiring agents include business administration, marketing, and finance. Business-related degrees offer a solid foundation in business practices and financial analysis, which are both key to the success of any real estate agent.

A degree in marketing can also be helpful for aspiring Realtors, as it provides insight into consumer behavior and sales strategies. This expertise can help agents craft compelling property listings and utilize online marketing tools to reach a wider audience of potential buyers. A degree in psychology or communications can also be useful, as it can improve an agent’s ability to build relationships with clients and understand their needs.

Aspiring Realtors can also pursue a bachelor’s or master’s degree in real estate, which is often more extensive and offers more specialized training. These types of degrees explore real estate laws, practices, and regulations in greater detail while also cultivating communication and negotiation skills. They can take four years to complete, though some universities may offer accelerated programs.

For those who don’t wish to pursue a degree, many colleges and community-based organizations offer certificate programs in real estate that can be completed in just a few months. These courses provide a fast, affordable, and effective way to educate yourself in the real estate industry and prepare for your state’s license exam.

Licensing Requirements

Real estate agents work under the supervision of licensed brokers to facilitate the purchase and sale of homes, commercial buildings and land. Both real estate agents and brokers must pass a state licensing exam, undergo a background check and have a sponsoring broker to activate their licenses. It takes about 77 hours of real estate coursework to become an agent, while it takes 152 hours to get your broker license. In addition, most states require additional continuing education courses for renewals every couple of years.

Many of the classes you take to meet your pre-license requirements will also prepare you for the state real estate exams. These exams are often very difficult and can make or break your career as a real estate agent. You should consider taking a review course before you take the exam to ensure that you are well prepared.

After you complete all the required pre-license courses, you must find a broker or other person to sponsor you. Brokers are responsible for overseeing the real estate transactions of their agents and ensuring compliance with all state laws and regulations. You must also complete a background check and fingerprinting.

Once you have your sponsoring broker, you can then sign up to take the state real estate exam. Typically, you must pay a fee to register and take the exam. If you fail the test, you must wait two years before you can retake it.

Real estate agents and brokers are paid commissions, which are a percentage of the home’s sales price. The commission is agreed upon before closing and is taken out of the seller’s proceeds. In addition, agents and brokers must join NAR and agree to follow the organization’s code of ethics.

NAR’s Code of Ethics outlines the fiduciary duties that agents and brokers must uphold, including honesty and integrity, confidentiality, fair dealings with clients and respect for property owners. The NAR also provides advanced educational opportunities and allows agents to specialize in certain areas of the industry, such as buyer’s representation or residential real estate expertise. This gives them an edge over non-members, as they can offer the public more in-depth knowledge and experience about the real estate market.

Certification Requirements

When you see a real estate agent wearing a Realtor designation, it means that she has completed the state’s education requirements and passed the real estate license exam. She then agreed to the National Association of Realtors’ strict Code of Ethics, which is designed to elevate standards in the industry and promote professionalism and honest dealing with clients.

Most states require prelicensing coursework, and some even have specific curriculum guidelines for the courses. Once a person has completed the course work, they must pass a licensing exam, which is typically divided into two sections. The first portion covers general real estate principles and the second covers state-specific laws. The exam includes multiple-choice and true/false questions. Many pre-licensing courses provide practice exams, and many real estate commissions offer sample questions online.

After passing the licensing exam, a prospective broker or salesperson must submit their official license to their state’s real estate regulatory agency. The state will then review the license application, and once approved, will send a copy of the official license to the applicant. Many states also have licensure reciprocity agreements with neighboring states, which can save time and money for real estate professionals who regularly transact business across state lines.

A professional who wants to use the title “Realtor” must join a local real estate board affiliated with the National Association of Realtors. They must pay a one-time membership fee and annual membership dues, which vary by association. These fees support local advocacy efforts, networking opportunities and educational initiatives. Membership in a local NAR board may also allow a Realtor to access the Multiple Listing Service, a database that displays property listings and provides information on market trends.

Real estate agents must work with licensed brokers in order to sell properties, and the principal/designated broker must be a member of NAR to represent clients as a Realtor. NAR requires each brokerage to have a designated broker who ensures that all Realtors adhere to state and federal real estate law, and is responsible for training and discipline of all affiliates. NAR members are charged an annual Special Assessment, which helps fund NAR’s consumer ad campaign, which highlights the value of working with a Realtor and underscores the benefits of homeownership.

Job Duties

Realtors work on behalf of buyers and sellers in real estate transactions, which can include residential or commercial property. As a Realtor, you must be able to assist clients in finding properties that meet their needs and budgets, and sell properties at the highest possible price. Typical job duties for this career include marketing listings, meeting with potential clients, and providing guidance on local real estate markets.

You must also have excellent interpersonal and customer service skills, and be knowledgeable about the laws of your state’s real estate industry. You will often spend time preparing and reviewing documents for your clients, including purchase agreements, leases, and deeds. Your responsibilities may also include arranging inspections and maintenance at rental properties, ensuring that all relevant disclosures are provided to customers, and attending closings.

A successful Realtor will have a thorough understanding of the local market and be familiar with current mortgage rates and loan programs. You will also be able to provide information about tax rates, utility costs, municipal services and facilities, and proposed zoning changes that could affect the value of a property. In addition, you will need to be able to effectively negotiate prices and terms on behalf of your clients.

If you are working with buyers, you must be able to assess their financial capabilities and find properties that match their lifestyles and budgets. You will need to compare properties with those that have recently sold in the area to determine a competitive market price and promote sales through advertisements, open houses, and participation in multiple listing services. You must be able to help your clients arrange home and financing inspections, and assist them in obtaining insurance coverage and obtaining mortgage loans.

As a Realtor, you must adhere to the National Association of Realtors Code of Ethics, which sets out standards for professional conduct and ethics in the real estate business. This includes putting the interests of your clients before your own and refraining from misrepresentation, dual agency, and discrimination. In addition, you must maintain your license and attend continuing education courses to keep up with industry trends and laws.