Saturday, April 28, 2012

Using a VUL Policy in Place of a Roth IRA or Section 529 Plan

How does a variable universal life (VUL) insurance policy stack up as an alternative to a Roth IRA (for retirement planning) or a Section 529 Plan (for college tuition planning)? Using a VUL policy in lieu of a Roth IRA or a Section 529 Plan will probably not make sense if funding for retirement or college is the only objective. However, a VUL policy may make great sense where funding for retirement, college, or both, is desirable and there is also a need for life insurance. This article will explore the advantages and disadvantages of a VUL policy compared to Roth IRAs and Section 529 Plans.

VUL Basics

VUL insurance is permanent insurance that provides a death benefit with the ability to build cash value. With VUL, the policy owner chooses which professionally-managed funds to invest the premiums (net of the cost of insurance and policy/administrative fees). These funds also charge administrative fees.

The policy is called "variable" because its account values will vary according to the performance of the funds chosen. It is called "universal" because the policy owner can set the premium amount and payment schedule provided they are sufficient to support the death benefit and sustain the policy. A VUL policy can cover a single life or joint lives (i.e., a survivorship policy). A VUL policy is an ideal product for someone who needs death benefit protection (i.e., to replace income, to provide liquidity to pay estate taxes, or simply to create an estate) and is also looking to supplement retirement income or to save for educational expenses.

Assuming the VUL policy is not a Modified Endowment Contract (i.e., a policy that fails to meet the tests of IRC Section 7702A, which are designed to prevent the over-funding of policies), loans are free from current income taxation and withdrawals are income taxed only to the extent that they exceed the owner's basis in the policy. But, for policies issued after 1984, a withdrawal taken within 15 years of policy issuance that reduces policy benefits is subject to income tax under IRC Section 7702(f)(7)(B). After 15 years, there is no immediate income tax. The 15-year rule does not apply to policy loans.

Thus, similar to a Roth IRA or a Section 529 plan, the account values in a VUL policy may be accessed without income taxes. However, policy loans and withdrawals may impact investment performance, death benefits, no-lapse guarantees and the tax impact upon the lapse of a policy. Moreover, unlike non-variable policies, the insurance company does not guarantee the account values of a VUL insurance policy. Since the policy values may vary either upward or downward based on the performance of the investment funds selected, a VUL policy presents a risk to the death benefit.

VUL vs Roth IRA

Both Roth IRAs and VUL policies offer the owner a choice of investment options and, for both products, the contributions/premiums are not tax deductible. With a Roth IRA, the interest or earnings on the account values are income tax free, while the interest or earnings with a VUL policy are income tax deferred. Withdrawals from Roth IRAs are income tax free if the account owner is at least age 59 or older. As discussed above, with a VUL policy, withdrawals up to basis are not taxable; and policy loans are not taxable, provided the policy remains in force until the insured dies. With both products, death benefits are income tax free to the beneficiaries, provided the Roth IRA has been open for at least five years.

Quick Payout Loans- Advance Your Payday Whenever You Need It

During any short term financial disparities it becomes extremely important to have enough cash in hand. There are different expenditures in life that cannot be delayed. Thus, to get relief from cash shortage problem you can at any time apply for quick payout loans. These loans will enable you to get enough cash assistance within hours of applying. Any unexpected expense can be easily dealt with on time with the help of these loans. Also, the application as well as approval process of these loans is quite effortless and easy. This makes these loans hugely popular among the applicants.

Since quick payout loans fall under the category of short term unsecured loans, there is no need of pledging any collateral when you apply for these loans. These loans has been mainly tailored to help you handle any short term emergency in a trouble free way. To ensure that you find these loans fast lenders has eliminated the hassle of documentation and credit checking procedure. Such feature of these loans will help you get the cash you need quickly within hours of applying.

However, to qualify for instant payout loans you will need to meet some simple preconditions. For that you may be an adult with minimum age of 18 years and be a citizen of UK. Besides, you must be doing a regular job and earn at least 1000 per month. Furthermore, you must have an active bank account that should accept direct deposit. This is necessary as lenders will wire the approved cash directly into your account upon approval.

Any UK borrower who can meet these simple pre-conditions can get an amount ranging from 100 to 1,500. Short duration of 14 to 31 days will be provided to you to repay the borrowed money. Being unsecured in nature may make you pay a bit higher interest rates. However, proper research and comparison of the various loan deals will help you get the best loan deal with flexible terms that best suit your needs.

So whenever you are in need of quick cash help then apply for quick payout loans without a second thought!

Monday, April 23, 2012

How To Establish Credit When You Are Under 21

Some people who have been fortunate (or unfortunate) enough to have been issued credit cards wish they never would have gotten as far in debt as they're in. There are others, though, who just wish they could have the slightest opportunity to have a credit card and begin to prove their credit worthiness. While there are many people in a variety of situations who have never applied for a loan or credit card, this situation generally applies to teenagers and young adults who have never had any credit extended to them.

You may have been told recently that you don't qualify for a credit card or a loan because you have no credit profile. As frustrating as that seems, remember this: Having no credit is much better than having bad credit. Before we take a look at a couple ways to start building your credit profile, let's first take a look at some best practices for credit cards.

When you're young and you first get a credit card, the temptation to go on a shopping spree can be quite overwhelming. Think about this, though: Your first credit card is your first opportunity to show future lenders that you are responsible. The decisions you make now will affect you for the rest of your life. When you use your credit card, try not to use more than 30-45% of your available credit. Also, don't use more than you can afford to pay the following month. Remember that minimum payments are great for the interim, but making them only means that you'll be paying practically double (or more) the cost of your original purchase(s) in the long run.
So now let's take a look at a couple ways you can start building your credit.

Pre-Paid or Secured Credit Cards

There are a wide variety of financial institutions including Capital One, First Premier Bank, HSBC, and others that offer pre-paid credit cards or secured credit cards to people with bad or no credit. As you may infer from the name, a pre-paid credit card is a credit card that is issued to you in exchange for a full payment by you of its total credit limit. For example, if your pre-paid card has a credit limit of 0 (typical value for first time card), you would be required to pay the issuing bank 0 up front to secure' the funds. You will be able to use the credit card just as you would a regular credit card, and the best part is: The card activity gets reported to all 3 major credit reporting bureaus. As such, within months you will have an active credit profile. It's up to you how you nurture it.

Department Store Credit Cards

If you aren't interested in paying up front to secure a credit card, you may be able to get a store credit card somewhere. All types of stores like Home Depot, Lowe's, Macy's, and target and labels such as Abercrombie and Fitch and other common mall shops offer them. It's hard to know which one will offer to you without a credit profile, so ask before applying to avoid wasting your time and diminishing your already non-existent score by having it run multiple times.

Commercial Washroom Accessories For Restaurant Restroom Design

The commercial washroom accessories sold for restaurant restroom design will promote health, comfort, and return on investment. Most are made from stainless steel to minimize bacterial buildup. Designs focus on convenience, and applications for use bring return on investment in the form of better public image, better health department ratings, and reduced costs on cleaning. Superior unit engineering ensures longevity that lowers replacement costs.

Interior design considerations are very important to restaurant restroom design. A clean restroom that looks attractive is an advertisement in its own respect. Commercial washroom accessories should seamlessly blend with interior architecture. They should also provide an aesthetic compliment to the color scheme of flooring, partitions, and walls.

For new constructions, recessed mounted mirrors and shelving are recommended because they reside flush to the wall. Mirrors that are made from stainless steel are excellent compliments to stainless steel shelving and faucets. They last a great deal longer than standard mirrors, so they ease the burden of replacement costs for smaller, family restaurants.

Another important consideration in restaurant restroom design is the need to provide special accommodations to certain individuals. In a high-traffic area known to attract families, there will no doubt be people of all ages. Commercial washroom accessories that accommodate the very young and the elderly is a courtesy that is becoming standard to all restaurants in America.

Baby changing stations give parents a place to take care of children in need. Grab bars that can be mounted to toilet partitions provide convenience for not only those who are wheelchair bound, but for the very elderly who have difficulty standing up.

Vending machines allow women to discreetly purchase napkins in privacy while using the restroom. There are also special disposal units available for used napkins. Facial tissue dispensers are a thoughtful consideration to those with allergies who really don't like having to cannibalize toilet paper or paper towels to blow their noses.

Commercial washroom accessories that promote sanitation are high priority items in restaurant restroom design. An unsanitary restroom in a restaurant is going to invoke the wrath of the health department. Anything soiled on the floor is intolerable in the eyes of inspectors. Such a sight will also offend customers. Many of these people may even assume that the kitchen is dirty as well, and they may say as much in online reviews that harm the relationship of the establishment.

To maintain a good image of sanitation, restaurants should invest wisely in stainless steel trash cans with plenty of cubic volume to hold refuse. Cans should also have lids to trap offensive odors inside.

Choose paper towel dispensers that will minimize paper towel waste. Roller operated units are not recommended for restaurants because children often play with such units and waste a great deal of paper. This takes us back to the problem of paper on the floor, which is something we never want in a restroom. There are many manual and automatic commercial washroom accessories designed to deliver only one towel at a time to prevent this type of abuse.

Cutting edge restaurant restroom design seeks to eliminate paper towels altogether.
While many are not yet ready for a world with only hand dryers in it, it is heading that way in many places. The latest hand dryers work as quickly and as effectively as paper towels. They offer the added value of eliminating paper towel costs.

Investors can save money on commercial washroom accessories that combine multiple functions.
For people not quite yet ready to completely give up paper towels, there are combination units that house both towels and a hand dryer unit along with a built-in trash can. For stalls, there are combination units that combine seat covers, napkins, and toilet paper dispensers.

Saturday, April 21, 2012

Know and Love an Articulated Dump Truck!

The articulated dump truck is probably the toughest commercial vehicle ever built. This hard-working vehicle is specifically designed to run on muddy and rocky terrains while carrying a load that is larger than what could be carried with a conventional dump truck. Its articulated frame is ideal for such working conditions as it moves with greater ease and is separated from the cab by an oscillating hitch which allows the cab and the body to move separately from each other. This in turn reduces the stress on the truck's frame and allows the wheels to remain on the ground.

Moveable Chassis

One of the unique features of the ADT is the moveable chassis. While conventional dump trucks are built on a one-piece chassis that holds both the cab and the bed, the ADT is quite different. It is actually made up of two major parts: the cab and the body that holds the dump bed. These two components are linked together via a massive oscillating or moveable hinge which allows the body with the cab and the body with the dump bed to move separately from each other.

Unique Steering

The vehicle's steering system is also different. To steer it, two massive hydraulic rams are attached to the cab and bed. This moves the cab and points it in the proper direction, allowing for tighter turns and better movement.

Unlike the rack-and-pinion steering system used on conventional commercial vehicles, the artic hinge steering system used on ADT's is far more flexible so it can tackle any terrain with all wheels on the ground. The massive joint also makes it possible for the vehicle to have higher capacity limits than conventional dump trucks.

Differential Lock System

The ADT typically comes in 4X4, 6X6, or 6X4 drive configurations. Each tire on the truck generates power to move the vehicle via a differential lock system that is designed to divide the drive-train torque between the front and rear drives. Along with wider and lower tires, this gives the truck superior traction as needed to handle steep grades or poor terrains with more power instead of speed. The ADT's engine and transmission are designed this way due to the fact that ADT's are typically used for hauling short distances, under conditions that more traditional dump trucks would be unable to handle efficiently if at all.


Even the ADT's cab is built with practicality in mind. The cab only has enough room for one person. The driver is located centrally inside the cab with great outside visibility. The driver's seat is surrounded with different controls in a good, easy-to-use configuration.

Despite its many advantage, ADT's will not be replacing the conventional dump trucks just yet. Despite its many advantages, it also has its limitations, the main one being that the design is conducive for a particular driving condition which is not found on every job. It is certainly not conducive to extended normal road driving. Also, these articulating dump trucks come with a pretty hefty price tag.

The articulated dump truck established itself as being very useful for extreme hauling on harsh terrains. Most of the businesses that make use of the services of an ADT are mining companies and construction companies. For them, the ADT has proven to be the ideal vehicle that can provide the reliability and efficiency they need and it truly has become love at first sight' for every company that owns them!

Equipment Lease Tips For Startup Businesses

For a new business, trying to get a bank loan can be a challenge especially without business credit history to back up your loan application. If you need equipment financing is an issue, perhaps you may consider business equipment leasing?

Who Can Lease

Both new and established businesses are eligible to apply for equipment lease financing. In fact, this financing technique has been employed by many small businesses and large corporations for a long time.

Why Lease Equipment

Rather than apply for a bank loan to buy the needed equipment, a new business owner can apply for a lease to avoid unnecessary delays with the business operations. Instead of waiting for months to get their business loan approved, leasing equipment involves a quicker and uncomplicated procedure.

Add to this, equipment lease financing is generally cheaper since it does not require a down payment. Many leasing companies offer flexible repayment terms (monthly, quarterly, bi-annual, annually) to complement the business's needs.

Indeed, equipment lease financing is recommended for smaller businesses. By leasing equipment, the business owner can use its working capital on other expenditures such as purchasing supplies, hiring workers, advertising your products and services, instead of spending the money on devices or special machines.

Preparing Paperwork

What kind of paperwork do you need to prepare? The specific requirements may vary from one leasing firm to the next. Still, most lessors generally require a written equipment lease proposal, the business's recent financial statements, and tax returns.

Your lease proposal must clearly present the type of business you run, your reason for getting a lease, the specific machines or devices you need, and other important information about your company that will help convince your lessor to approve your application.

Check Your Credit

Some business equipment lease providers have strict standards and may call for good to excellent credit history. Nonetheless, you can find lessors that offer leasing services even for customers with no credit history or with bad credit history.

In fact, even business owners who have a record of bankruptcy can get approved as long as the bankruptcy has been discharged. If you have bad credit, it is a good idea to include a letter explaining the details about your bankruptcy or poor credit.

Tips For Sure Approval

For new business owners, do not test the waters by submitting multiple lease applications to different companies. If a potential lessor sees too many inquiries in your report, it may raise doubt as to why other lessors are not willing to grant you a lease.

Keep in mind that not all leasing companies offer lease for new businesses. Some lessors may require applicants to be at least 2 years in operations. However, there are lease companies that do offer special lease arrangements for new businesses.

Find a leasing company that provides service to businesses in the market you belong. For example, some lessors specialize in transportation while others may specialize in medical equipment, printing equipment, baking equipment, etc. Check the prerequisites of a particular equipment lease provider so you can avoid unnecessary rejection.