Life Insurance Awareness Month

September 24, 2012


It is Life Insurance Awareness Month and now may be a good time to review your life insurance.  Many people avoid getting life insurance because of the thought of dying.  We do not want to face the issues.  But, the fact of the matter is, that if we care about our families, we should take the time to make sure that they are protected in the event of our untimely death.

Many of us procrastinate and if we are not careful, we may wait too long to resolve the problem.   We may be prevented from doing that because of accident, illness, or death.  Then the family suffers because of our failure to plan.

In some cases, life insurance is not as expensive as some may think.  Sure, we may have health problems, but some of the companies will insure some people that others may not.  Just because one refuses to insure you does mean that they all will.  Each company has must meet certain criteria in order to manage the risks associated with providing insurance.

I just met with someone who had substantially less coverage for life insurance than he originally thought.   After reviewing the policy and the costs associated with burial, I recommend more coverage.  After discussing the option with him, he decided to purchase more insurance.

In conclusion, it would be beneficial to review your policy periodically to determine if the coverage is adequate, and if it is not, to increase it.  If you do not have a plan for insurance, it is highly recommended that you obtain a plan before something happens.

Business Line of Credit for Access to Cash

September 7, 2012


Since the economic crisis of 2008, businesses have been experiencing difficulty in managing their cash flow and securing loans to help continue their operations. Here especially in Rhode Island, we have experienced challenges in relying on government organizations which can help in providing funding.

Managing cash flow involves paying bills, receiving payments for services, managing the liquid assets balance, controlling the collection of cash and disbursements, and deciding on the types of investments the company should make. Proper management of the cash flow is crucial in increasing the company’s profits. When cash flow is managed properly, the business can position itself to invest in other business acquisitions.

In order to manage cash flow, business owners should develop a cash budget showing a forecasting of cash receipts and disbursements over time. They could be short term or long term. This enables the business owner to anticipate the need for alternative financing and to investigate and choose one that is the least costly. If a bank is the choice, having a cash budget with future projections will enable businesses to obtain a loan, as the banks value a business which plans. If businesses are operating with insufficient cash flow due to emergency situations, the banks are unlikely to lend the money.

Because of the problems which we experienced after the economic crisis, banks are requiring that businesses have A credit before they seek loans. Unfortunately, many of the businesses do not have A credit and many are experiencing cash flow problems because of the shortage of cash of their clients resulting in difficulties in collecting payments, and the delays in collecting money from the government or insurance companies.

SalesGuard has developed a system whereby business owners can obtain cash for their business because of delays in collecting payments from their customers or in the event they need to invest in inventory or to take advantage of an opportunity to invest in another business. This is called a business line of credit which is based solely on sales volume. The owners can have access to $5000 up to $250,000 per day, with no upfront fees. As long as there are no bankruptcies , pending legal actions, nor bad credit, any business can apply for the line of credit and have access to the cash which they need.

After reviewing and confirming all of the records of sales volume, the applicant can secure a line of credit suitable for their needs. They can have access to cash when they need it and pay it back when they are able. Even start-up businesses, in certain situations, can secure a line of credit. This is a positive step for business to improve their cash flow and to run their businesses the way that they should.

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