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Why should I buy life insurance?

Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations: Replace income for dependents. If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings, or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner will be reduced after your death Pay final expenses. Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts, and medical expenses not covered by health insurance. Create an inheritance for your heirs. Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. Pay federal “death” taxes and state “death” taxes. Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011, will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes. Make significant charitable contributions. By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums. Create a source of savings. Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn at the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax-deferred (and tax-exempt if the money is paid as a death claim).
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What is covered by standard homeowners insurance?

Understanding the four essential protections provided by your homeowners policy Homeowners + Renters Insurance IN THIS ARTICLE Coverage for the structure of your home Coverage for your personal belongings Liability protection Additional living expenses (ALE) SHARE THIS EN ESPAÑOL DOWNLOAD TO PDF Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: coverage for the structure of your home; coverage for your personal belongings; liability protection; coverage for additional living expenses Coverage for the structure of your home Your homeowners policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. Most policies also cover detached structures such as a garage, tool shed or gazebo—generally for about 10 percent of the amount of insurance you have on the structure of the house. A standard policy will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, remember this simple guideline: Purchase enough coverage to rebuild your home. Coverage for your personal belongings Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters. The coverage is generally 50 to 70 percent of the insurance you have on the structure of the house. The best way to determine if this is enough coverage is to conduct a home inventory. Personal belongings coverage includes items stored off-premises—this means you are covered anywhere in the world. Some companies limit the amount to 10 percent of the amount of insurance you have for your possessions. You also have up to $500 of coverage for unauthorized use of your credit cards. Expensive items like jewelry, furs, art, collectibles and silverware are covered, but there are usually dollar limits if they are stolen. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for its officially appraised value. Trees, plants and shrubs are also covered under standard homeowners insurance—generally for about $500 per item. Trees and plants are not covered for disease, or if they have been poorly maintained. Liability protection Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter (or even your dog) accidentally ruins a neighbor’s expensive rug, you are covered. (However, if they destroy your rug, you’re out of luck.) The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit stated in your policy documents. Liability limits generally start at about $100,000, however, it’s a good idea to discuss whether you should purchase a higher level of protection with your insurance professional. If you have significant assets and want more coverage than is available under your homeowners policy, consider purchasing an umbrella or excess liability policy, which provides broader coverage and higher liability limits. Your policy also provides no-fault medical coverage, so if a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses can be paid without a liability claim being filed against you. It does not, however, pay the medical bills for your own family or your pet. Additional living expenses (ALE) ALE pays the additional costs of living away from home if you cannot live there due to damage from a an insured disaster. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses, incurred while your home is being rebuilt. Keep in mind that the ALE coverage in your homeowners policy has limits—and some policies include a time limitation. However, these limits are separate from the amount available to rebuild or repair your home. Even if you use up your ALE your insurance company will still pay the full cost of rebuilding your home up to the policy limit. If you rent out part of your house, ALE also covers you for the rent that you would have collected from your tenant if your home had not been destroyed.
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12 steps for locating a lost life insurance policy

Locating life insurance documents for a deceased relative can be a daunting task. However, with a little sleuthing, you can successfully navigate the paper trail. Here are some strategies to help simplify your search. Look for insurance related documents Search through files, bank safe deposit boxes and other storage places to see if there are any insurance related documents. Also, check address books for the names of any insurance professionals or companies—an agent or company who sold the deceased their auto or home insurance may know about the existence of a life insurance policy. Contact financial advisors Present or prior attorneys, accountants, investment advisors, bankers, business insurance agents/brokers and other financial professionals might have information about the deceased’s life insurance policies. Review life insurance applications The application for each policy is attached to that policy. So if you can find any of the deceased’s life insurance policies, look at the application—will have a list of any other life insurance policies owned at the time of the application. Contact previous employers Former employers maintain records of past group policies. Check bank statements See if any checks or automated payments have been made out to life insurance companies over the years. Check the mail For the year following the death of the policyholder, look for premium notices or dividend notices. If a policy has been paid up, there will no notice of premium payments due; however, the company may still send an annual notice regarding the status of the policy or notice of a dividend. Review income tax returns Look over the deceased’s tax returns for the past two years to see if there is interest income from and interest expenses paid to life insurance companies. Life insurance companies pay interest on accumulations on permanent policies and charge interest on policy loans. Contact state insurance departments State insurance departments offer free search services to residents looking for lost policies. Check with the state’s Unclaimed Property Office If a life insurance company knows that an insured client has died but can’t find the beneficiary, it must turn the death benefit over to the state in which the policy was purchased as “unclaimed property.” If you know (or can guess) where the policy was bought, you can contact the state comptroller’s department to see if it has any unclaimed money from life insurance policies belonging to the deceased. Contact a private search service Several private companies will, for a fee, assist you with the search for a lost life insurance policy. They will contact insurance companies on your behalf to find out if the deceased was insured. This service is often provided through a websites.
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Johnny Depp was jealous and controlling, ex-girlfriend Ellen Barkin says

Johnny Depp was controlling and jealous and once threw a wine bottle across a room, one of his ex-girlfriends and co-stars said in a video during his court case against Amber Heard. In the video, actress Ellen Barkin said Mr. Depp was “drunk a lot of the time” during their relationship in the 1990s. The testimony, filmed in 2019, was played in court, where Mr. Depp is suing his former wife for defamation. Ms. Heard has accused the Hollywood star of being violent, which he has denied. The trial’s jury watched the recorded testimony from Ms. Barkin, who said her relationship with the Pirates of the Caribbean actor lasted between three and six months. She said: “He’s just a jealous man, controlling – ‘Where are you going? Who are you going with? What did you do last night?’ “I had a scratch on my back once that got him very angry because he insisted it came from me having sex with a person who wasn’t him.” She added that the actor “was always drinking and or smoking a joint”. Ms. Barkin said the incident with the bottle happened while she and Mr. Depp were filming the 1998 film Fear and Loathing in Las Vegas, adapted from the book by Hunter S Thompson. “Mr. Depp threw a wine bottle across the room, the hotel room in Las Vegas,” she said. “I don’t know why he threw the bottle.” However, she recalled that he may have had an argument with friends or an assistant. Also on Thursday, Mr. Depp’s former agent Tracey Jacobs told the trial that his career suffered after 2010 because of “unprofessional behavior” including drug and alcohol use and consistently showing up late on set. And the star’s former business manager Josh Mandel said he became “extremely concerned” about Mr. Depp’s financial situation in 2015, with the actor spending $300,000 (£193,000) a month on full-time staff at one point. The trial is due to resume next week. Read more: bbc.com
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Stand-up forklifts with fork-like attachments: Widely used for efficient intra-building goods movement

Stand-up electric forklifts equipped with fork-like attachments find extensive application in warehouse environments for swiftly relocating batches of goods within a building’s interior. Their utility is widespread in commercial entities, reputable corporations, small-scale manufacturing units, commercial enterprises, and even small retail stores. Modern iterations of these forklifts are capable of lifting loads of up to four tons and can easily navigate through narrow corridors and auxiliary storage areas. This technical design excels in loading and unloading tasks, rendering it an indispensable tool for efficiently managing and facilitating large warehouse spaces. Types of Vertical Forklifts Vertical material handling equipment, a subtype of forklift with fork-like attachments, is designed to allow the operator to stand on a platform while working. This layout provides improved visibility, enhanced mobility within localized zones, and swift ingress and egress when needed. We’ve explored what a stand-up forklift is. It comes in various variants, with developers offering modifications tailored to customer requirements. Let’s delve into a few of them: Pneumatic. These models feature standard air-filled tires, which soften the impact on uneven surfaces. They are commonly found on construction sites or areas with containers, capable of handling diverse loads and exhibiting superior crossover capabilities. Electric Stand-up Forklift. Operating on electric power, this type of forklift has minimal environmental impact and operates quietly. While it may have a relatively lower load capacity, its maneuverability compensates for this limitation, making it suitable for indoor use. Telescopic forklifts. Equipped with a special lifting mechanism, this variant excels in elevating loads to considerable heights. It enjoys popularity among construction workers and field operatives. Compact. Characterized by its small dimensions and excellent mobility, this type is ideal for warehouses with multiple shelves and limited space. Its minimal turning radius enables precise maneuvers. Choosing Between Stand-On and Electric Rider Forklifts The decision on whether to acquire a stand-on or electric forklift depends on various factors, including budget constraints and the specific characteristics of each model. Consideration should also be given to purchasing used equipment as a cost-saving option. Extended Vertical Forklift Mechanism This type of forklift design is deployed in distribution centers and warehouses. It features a narrow-directional undercarriage and an extendable rail system, allowing for the retrieval of high-placed cargo. The rail system’s tilting capability enables access to areas inaccessible to conventional forklifts. Electric Material Handling Equipment These forklifts are eco-friendly and primarily used in enclosed spaces. They are indispensable for retail points, distribution centers, and storage areas. These models operate almost silently and are equipped with ergonomic features to ensure a well-organized workspace, along with adhering to stand-up forklift safety guidelines. Propane-Powered Forklift Gas-powered material handling equipment is extensively used for both indoor and outdoor tasks. This versatility makes it an ideal choice for efficiently moving goods in construction sites and storage facilities. These forklifts excel in handling heavy loads due to their maximum power capacity. Refueling with propane takes only minutes, minimizing downtime, and they require minimal servicing due to their durability. Choosing Between New and Used Forklifts We recommend considering used models that are still in good condition. Such equipment is suitable for indoor use. By collaborating with reputable suppliers, you can be confident in acquiring machinery that meets your needs, enabling cost-effective procurement and preserving funds for future business endeavors.
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