howtopro Student Loan Refinancing for Business Owners in the United States Student loan debt is a significant financial burden for many individuals in the United States, including business owners. With the rising costs of education, managing student loan payments while running a business can be challenging. However, student loan refinancing offers a viable solution for business … Read more
Top Retirement Savings Plans for Millennials Stuck in student loan debt and a shaky economy? Here’s your ultimate guide to the top retirement savings plans for millennials, including IRAs, 401(k)s, and more! Focus Keyword: Retirement savings plans for millennials Secondary Keywords: IRA, 401(k), Roth IRA, millennial retirement, retirement planning for millennials Set Focus Keyword: Retirement … Read more
Best Personal Finance Management Apps for 2024: Take Control of Your Finances Feeling overwhelmed by your finances? Discover the best personal finance management apps for 2024 to budget, track spending, and achieve your financial goals! Focus Keyword: personal finance management apps Focus Keyword: best personal finance apps 2024 In today’s fast-paced world, managing your … Read more
DEFINITION A health reimbursement arrangement (HRA) is an account-based health plan employers can offer to employees instead of a traditional group health plan. Key Takeaways Definition and Examples of a Health Reimbursement Arrangement A health reimbursement arrangement (HRA) is an account-based health plan employers can offer to employees instead of a traditional group health plan. The employer … Read more
DEFINITION A flexible spending account (FSA) is an employer-sponsored savings account that lets employees pay certain out-of-pocket medical or dependent care costs with tax-free dollars. How Flexible Spending Accounts Work Employees and employers (on behalf of the employee) can contribute to a flexible spending account with pre-tax income when an employer offers an FSA. Employees can then … Read more
DEFINITION Windstorm insurance is usually an add-on policy for homeowners insurance. It provides protection if a wind event such as a hurricane or tornado damages your home or personal possessions. How Does Windstorm Insurance Work? Windstorm insurance is a supplemental policy you can add to your existing homeowners insurance. Also sometimes known as hurricane insurance, this type of … Read more
DEFINITION A reinsurer steps in to help the original insurer pay claims. Definition and Examples of Reinsurance The purpose of insurance is to transfer and share risk—your auto policy allows you to share the risk of a potential auto accident with a large company. Direct insurers sell homeowner, auto, health, and life insurance policies directly to you, the … Read more
The property/casualty insurance industry is cyclical, continually fluctuating between a hard and soft market. These fluctuations affect the availability and price of business insurance, so it is helpful to understand why they occur. Key Takeaways Hard and Soft Markets Hard and soft markets are different parts of the insurance economic cycle. Hard Insurance Market A … Read more
DEFINITION Insurance underwriting is how an insurance company evaluates its risk. It helps an insurance company decide whether taking a chance on providing coverage to a person or business would be profitable. Definition and Example of Insurance Underwriting Insurance underwriting is the way an insurance company assesses the risk and profitability of offering a policy to … Read more
DEFINITION Medicare is a health insurance program provided by the federal government for people who are at least 65 years old, those who are younger but receiving Social Security disability benefits, or those who are younger and have end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS). Medicare helps the elderly and disabled afford the health … Read more