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Common Supposition About Velocity Banking Strategy

Velocity banking is a strategy where you use a line of credit as your primary account and use lump sums to pay off a loan, usually a mortgage. The idea behind this is that using a line of credit will help you use your cash flow and extra money to cover your expenses but also go toward paying off your mortgage.

Most often the velocity bank strategy utilizes a HELOC, and the HELOC functions as your primary expense account instead of a checking account. This eliminates the need for a savings account since all your free cash flow will go toward the mortgage via the HELOC. People who use the velocity banking strategy believe it will allow them to pay off their mortgages faster and with less interest. Here are more assumptions about velocity banking.

Equity In Your House Counts As Savings

Yes, the velocity banking strategy can help increase your home equity. But that’s not savings, and you might not always be able to access it. The problem here is that for money to truly count as savings, it must have maximum liquidity and safety. You must be able to access the cash reliably and quickly for it to serve you well when you need it. So, while you may increase your home equity, you aren’t actually increasing the money you can access and use.

Paying Your Mortgage Earlier Is The Best Decision

The velocity bank strategy relies on the assumption that you need to pay off your mortgage as quickly as possible while using all of your available funds to do so. This may sound confusing, but you may not want to pay off your mortgage as quickly as possible. Your home is often your most effective liability, and it isn’t necessarily bad to have a mortgage on it.

Instead, it’s more financially savvy to continue to pay off your mortgage while using some of your free cash flow to build cash value in whole life insurance, invest, or grow your savings in other ways. That way, you will comfortably handle other things.

Notable Assumptions of Velocity Banking

Leveraging the velocity bank strategy is among the best decisions you can ever make when you want to get out of debt fast. Actually, many people believe this strategy will help them by allowing them to pay off their mortgage early. Even though there is some truth in this, you need to be disciplined enough for things to work in your favor.

Despite playing a crucial role of helping individuals get out of debt, there are a few underlying assumptions the strategy makes that can fall apart in reality leaving you with more financial burdens than thought in the first place. Below are some of the most notable ones.

Assumption: Paying off Your Mortgage Early is the Best Financial Decision

Before leveraging what velocity bank offers, you ought to keep in mind that it relies on the assumption you should pay off your mortgage as soon as possible using all of your available funds. Even though it sounds kind of counterintuitive, you may not want to pay off your mortgage as quickly as possible. Keep in mind your house is often your most effective liability, and it isn’t necessarily bad to have a mortgage on it.

Assumption: Equity in Your House Counts as Savings

It is without a doubt that velocity bank has the potential to help you increase your home equity. But that’s not savings, and you might not always be able to access it. For money to count as savings, it should have maximum liquidity and safety. You must also be in a position to access the cash reliably and quickly if it is to serve you well when you need it the most.

For you to get the most from velocity banking strategy, it needs to hold true the above and other assumptions. The good news is it can help and be in line with their financial goals. But for those who are saving for retirement or want the security of a life insurance death benefit, then it might not be the best strategy to leverage. So understand what it entails before you finally get going.

Ways to Save Money on Car Insurance

Individuals usually put a of work into a new vehicle purchase and this includes comparing several makes or models and going to great lengths to find the best financing rates. But very few car buyers apply the same amount of effort when considering how to insure their new vehicle. However, you can easily save money on car insurance by doing some research of the coverages you need as well as the discounts you can get.

Insurance premiums normally take many factors into account right from the type of policies you purchase to the model of car you drive, where you live and many more. So, here are some ways on how you can get the cheapest car insurance quotes.

Drive Safely

The possible way to paying expensive car insurance rates is having a history of accidents and traffic tickets. These are always red flags to insurers as there’s a direct connection between your driving history and your chances of getting into a future collision. Car insurance rates for drivers considered low-risk tend to be lower than those for drivers that insurance providers determine are high-risk.

Location also matters a lot when it comes to your monthly premium rates as insurance companies base insurance quotes on the Zip code where you live. Some areas have higher cost claims than other regions and those differences are always reflected on the cost to insure a car. You ought to notify your car insurance when you move to a new Zip code as you may be able to get a better deal.

Keep Your Credit Score High

Many consumers have never realized that their credit scores play a vital role in the price of their auto insurance. Since insurance providers are always in a position to show a link between claims and credit scores, they are always allowed to use credit-based pricing in most states.

By paying your bills, car payments as well as rent or mortgage on time each month, you can possibly ensure your credit scores stays high. Yet, missing payments is the quickest way to a lower credit score and higher insurance costs too.

Reasons to Choose an Independent Agent

Looking for insurance can be a complicated process considering the fact that there are numerous insurance companies out there all who claim to do you good. You probably need to be careful when comparing different insurance quotes since you’ll be buying a promise of protection that could either make or break your financial well being.

When dealing with an insurance company, most folks might also not know if they’re getting the best possible value for their money. That is why it’s essential to hire an independent insurance agent who can help you ease the insurance process. Therefore, keep reading to find out some significant reasons why you might need an independent agent.

Licensed Experts

Independent agents are experts since they can possibly explain the complexities of insurance in simple terms thus help you make a smart decision. These pros make a career out of assessing their clients’ insurance needs and match them with the insurance provider best equipped to meet those needs at an affordable price.

Independent insurance agents are also personal advisers on your policy. Agents not only help you to find competitive insurance quotes but they also make sure you’re adequately being covered by your carrier. An agent can also be your personal adviser since they work with  you face-to-face and they take their time to listen to you as well as understand your individual needs.

Give You A Choice

Independent insurance agents usually represent numerous insurance companies that offer a vast range of coverage options as well as price points. Typically, most agents sell to five to eight different insurance companies. With an insurance agent in place, there will be no need for you to accept one quote from one company.

With their connections and their knowledge of the insurance market, agents can often find a better value plan for your money than you’d find searching on your own. Actually, insurance agents do the shopping while you do the saving. Agents are also significant when it comes to insurance policies since they usually ensure they find you the right blend of price, coverage and service too.

Bit Index AI Key Features You Should Know About

Bit Index AI

So, what is Bit Index AI index AI? Well, this is an artificial intelligence powered cryptocurrency trading platform. It offers users a unique opportunity to trade cryptocurrencies, buy bitcoin, etherium, and litecoin. The platform uses this information to determine the best prices for entering and exiting the cryptocurrency markets. This trading platform is designed to make trading easier and more profitable.

This is done by scanning and analysing volatile crypto markets to identify profitable trades. Users can trade on the platform after completing a quick KYC verification process. However, Bit Index AI websitecontains some features that make it fascinating. Below, we will be discussing some of the most significant parts of BitIndex AI.

DemoAccount For Trading

Bit Index AI trading demo account is an important feature that both novice and advanced traders can access. This account allows users to trade virtual currencies, and ensures they invest in crypto markets without having to trade with cash. The demo account works in the exact same way as a real account, and it reflects the market conditions.

Start Growing Your Financial Portfolio Today

There is no difference with a real account just that you are only trying. This option allows traders to get more information about today profit. Once you have become familiar with the platform, you can deposit money to your account and start trading on the live trading platform.

CustomerService And Dedicated Account Managers

Bit Index AI ensures that traders have the support they need to use the platform. The customer service number is available to answer any questions. It is open 7 days a week, 24 hours a year. Bit Index AI gives its users a dedicated account managers that can assist them with any issues or questions they may have regarding their accounts. The customer service team can be reached via email or live chat. With that, you will have an easy time investing your money at Bit Index AI offiziell.

Final Thoughts

Many people are left with questions on what makes Bit Index AI legit. What you should understand is that this is a platform that allows users to invest their money in the most popular cryptocurrencies. This software alongside with the features mentioned above have been carefully designed.

It’s set to analyse technical indicators and other new sources that could affect the price of an asset in future. Most importantly, it has no hidden features and is easy to use. Be sure to do your homework to better understand what this trading platform entails.

Notable Features of Bit Index AI Trading Platform

Bit Index AI

After giving it some thought, you are finally ready to take advantage of what Bit Index AI offers crypto traders. There is nothing wrong with taking this approach since this crypto trading platform allows users to start trading the very moment they complete a simple KYC and verification process. This is quite fascinating considering it takes lesser than 10 minutes.

As is the case with any other crypto trading platform, you need to be sure that it has everything you need to have a remarkable crypto trading experience. But this should never be the underlying reason behind your woes if the numerous features included in any Bit Index AI review are anything to go with. Below are some of the most notable ones.

Leverage Trading

This is undeniably one of the key features that makes Bitindex AI stand out from other crypto trading platforms. With the inclusion of this feature, users can increase exposure to their crypto trades by applying leverage as high as 1:100. But according to the platform, this might not be the perfect option for starters.

And this is easy to see since a very high amount of risk is involved especially when you decide to apply leverage on an already volatile asset. No wonder you are better off doing your due diligence since it is the only way to invest in an amount you can afford to lose.

Customer Support and Dedicate Account Managers

To guarantee the best Bit Index AI experiences, this crypto trading platform ensures users have the needed support available when trading. All you have to do is contact their customer department, which is available 24/7, 7 days a week, when you need a solution to your problem.

What makes it even way more interesting is the fact that Bit Index AI offers users their own dedicated account managers that instantly users with any account questions and problems. The catch lies in contacting the customer support team via email or live chat, and you’re good to go.

Final Thoughts

These are just but some of the features that make Bit Index AI legit. Other features that will certainly capture your attention include fast trading execution, automated trading, and demo trading account, to mention a few. If you so happen to be Bit Index AI cryptominded, then it might be the right time to consider trying it out.

Reasons to Consider Switching Car Insurance

Car insurance is definitely one of the most significant costs associated with driving apart from gas, maintenance and the cost of the vehicle itself. However, many car owners don’t give the idea to shop around for car insurance appropriate considerations and so they mostly end up with the wrong auto insurance companies.

Fortunately, if you’re not satisfied with your current car insurance you can easily switch to a different provider at any time. However, knowing the most convenient time to switch and the best company to go for can be a more daunting task. Therefore, below are a few top reasons why you should consider changing auto insurance policies.


It usually pays to comparison shop and so it’ no different when it comes to auto car insurance quotes. You can often find virtuallythe same coverage at many different prices when shopping among a variety of insurer. A lot of factors both of which concern you as the driver and the company which you’ll purchase your insurance policy get into determining the final price you pay for a policy.

Your age, driving record, your car’s safety equipment, credit history and even where you leave are probably part of the pricing policy. Plus, you ought to be aware of the liabilities you may have that could possibly raise your insurance quotes. So, if you think you’re paying too much rates on an insurance company you can probably consider a shift.

The Insurance Company

If maybe you face a lot of challenges dealing with a particular insurance agent, the company itself or the insurance company claim adjusters, then you should consider switching to a new insurance company. Furthermore, if there’s been a big ethical scandal at your current auto insurance company, it might be worth to put your money somewhere else.

Of course, every insurance company receives both positive and negative reviews. So, talking to friends and family about their personal experiences with their own auto car insurer might be helpful to finding a friendly and knowledgeable agency near you. You can as well shop around to find an insurer that best suits your needs.

Questions to Ask Before Taking A Car Insurance

Today cars are not just purchased for luxury but they have become an essential need. Cars are not cheap and therefore you need to make sure that you care for it in every possible way. That is the reason insuring your car is significant to ensure their safety and protection for any sort of unforeseen loss.

However, buying an insurance for the first time can be confusing. Most people will prefer popular names while others will go for recommendation of their friends. Butit’supto you to ask some questions before purchasing. Here is a list of questions you should not miss.

How Will I Know What Cover Should I Buy?

For first time insurers, it’s important to pay attention to the mandatory insurance cover on your state. That is, the liability insurance that covers the costs incurred by the property damage or physical injuries to the other driver or other people in the vehicle.

This may include disabled persons as a result of accidents or death. Note that liability insurance does not cover loss to you or any medical expense if you or members get injured in the vehicle. The good news is you can opt for additional benefits by including other plans.

Do You Offer Any Discounts?

With a wide range of insurance companies, most are now offering discounts to attract their customers. Theses discounts are offered based on your profile which involves factors such as age, sex, and driving history. There is a need to inquire about the discounts you are offered by the insurer and then ask about the ones you are eligible for

For instance, if your car has additional safety features, then it will decrease your insurance premiums. Furthermore, if you are an old customer who purchased otherinsurance covers, you are more likely to get some additional benefits. That’s what you need to benefit from cheap car insurance.

There are so many questions you need to ask before purchasing a car insurance coverage. Hopefully, the questions above will help you get the right car policy and that suits your needs.

Things to Do Before Insuring Your Business

When running a business, you should always be ready for anything that pops up. After all, the business world is a risky one and you may have to make do with surprises. One of the best ways to go about this is by getting insurance for your business. In the event of any problem in your business,rest assured the insurance policy will take coverage of all the losses according to the policy.

When it comes to premiums, they dovary based on risk factors such as the type of business and the location. The amount of money you agree to cover when making a claim is known as deductible. Your premium will be determined by the amount of deductible you agree to pay, if you pay higher amount then the premium will be lower. That aside, here are a few things to do before purchasing business insurance policies.

Work with an Insurance Agent

Even though it might seem cliché, we can never emphasize this point enough when it comes to business insurance. Ensure you work with an agent who has your best interest at heart. After all, such an agent will help you compare business insurance quotes and choose the most viable option for your needs and finances.

Remember, insurance agents get commissions from insurers after selling policies. Make surethe broker you count on has full knowledge on the risks associated with your business. That way, you will surely the best insurance coverage for your business without breaking the bank.

Shop Around

The cost of insuring your business will always vary from insurer to another. And this doesn’t come as a surprise since insurance companies differ in numerous ways. To land yourself the best deal possible, find time to compare business insurance quotes online before you can finally decide sign on the dotted line.

You don’t have to go overboard since InsuranceQuotes is just the insurance quotes comparison site you can leverage. Check it out today to examine what they have in store for business owners, after which you will save on your business insurance policy.

Things to Know before setting up an infinite banking system

One of the reasons a person should set up infinite banking is that even when they are borrowing their money, the cash value of their policy will continue to increase till its lifetime.

At any point in time, the person can contribute additional money to increase the policy value. They can also lend their cash value to anyone when required. Moreover, the interest rates are commonly less compared to the traditional loan rates of the bank.

If the Infinite banking concept appeals to a person, there are some steps that they need to take to set up their own banking system using their permanent life policy.

  1. Start young when the premiums are still low

Just like every life insurance-related product, a person will find the premiums low when they are young. As soon as the person has a permanent life policy, their premium gets locked. Hence, the earlier they become part of the policy, the better.

  1. Choose a reputable insurer

Infinite banking should be accessed for lifelong time. If you choose a new life insurance company, they might stop operating in the long run. Hence, you should be confident that the insurance company is well-known and will remain for a lifetime.

  1. Opt for a non-direct recognition policy

You can get dividends from a whole life insurance policy based on the investment. However, when you are borrowing money out of the invested amount, you are eligible to get dividends for only the amount that is still in the account. Choosing a non-direct recognition policy is the only thing that you can do to get dividends on the full cash value irrespective of the borrowed money.

  1. Select a policy that can benefit your beneficiaries

After the death of the policyholder, the company will absorb the cash value and provide the policy’s death benefit to the beneficiaries. You can avoid losing the cash value by making the beneficiary a cash value rider on the policy. The cash value that you have built over the years will be in the beneficiary’s name as he/she also has got the face value.


We hope now you understand the best tips to keep in mind while setting up the infinite banking process as a policyholder in a recognized life insurance company.