Builders Risk Insurance Explained

Builders risk insurance is an exclusive kind of property insurance that provides coverage against any kind of damage to buildings that are under construction. During construction, the building that is being built is exposed to many kinds of risks that can result in heavy loss. The building can be adversely affected due calamities or accidents therefore it is very important to get it insured.

As most of the times builders or building contractors are held liable for any kind loss that occurs or happens during the construction, it becomes the responsibility of the builders to protect themselves by taking benefit of schemes like Builders risk insurance. Builders risk insurance usually provides coverage against losses that are caused because of fire, vandalism, lightning, wind, and other such forces.

Builders risk insurance of insurance provides no coverage against damage that occurs due to natural calamities like floods, earthquakes, tsunami, hurricanes, typhoons, tornados, cyclones, seismic activities, etc. This type of insurance also does not provide any type of protection against losses that are caused due to acts of war, or intentional acts of the owner. The maturity period of Builders risk insurance is limited to the construction phase only.

Builders risk insurance is usually taken by builders, building contractors, and property owners. It is totally depend on the construction contract and ownership of the property that who should buy the Builders risk insurance to get maximum benefit out of it. It is advisable for the people who planning a new construction on their property or thinking of renovating the existing structures for improvement must purchase a Builders risk insurance policy.

Although, buying a builders risk insurance policy is a little complicated in comparison to the regular property insurance policy. It is recommended to gain proper knowledge before making the decision to get a deal that provides maximum benefit at minimum cost. The best way to get the best deal is to compare insurance quotes of the top listed insurance companies. You can also take an insurance brokers or insurance agents advice to gain proper information on the latest insurance schemes available.

Cheap Car Insurance Quotes Online Can Be Compared

Car insurances are quite tricky, if they have not been researched. Anyone who buys a car will have to do some research for these quotes before deciding which one to buy. Cheap car insurances quotes online will save the users a lot of time, and they may benefit from these online quotes. They will be able to save a lot of money too, as they will get the best quotes without being biased.Various

Communism - theory and practice

Source: Wikipedia

Communism is a socioeconomic structure and political ideology that promotes the establishment of an egalitarian, classless, stateless society based on common ownership and control of the means of production and property in general.

Karl Marx posited that communism would be the final stage in human society, which would be achieved through a proletarian revolution and only becoming possible only after a socialist stage develops the productive forces, leading to a superabundance of goods and services.

"Pure communism" in the Marxian sense refers to a classless, stateless and oppression-free society where decisions on what to produce and what policies to pursue are made democratically, allowing every member of society to participate in the decision-making process in both the political and economic spheres of life.

In modern usage, communism is often used to refer to Bolshevism or Marxism-Leninism and the policies of the various communist states which had government ownership of all the means of production and centrally planned economies. Communist regimes have historically been authoritarian, repressive, and coercive governments concerned primarily with preserving their own power.

As a political ideology, communism is usually considered to be a branch of socialism; a broad group of economic and political philosophies that draw on the various political and intellectual movements with origins in the work of theorists of the Industrial Revolution and the French Revolution.[6] Communism attempts to offer an alternative to the problems with the capitalist market economy and the legacy of imperialism and nationalism.

Marx states that the only way to solve these problems is for the working class (proletariat), who according to Marx are the main producers of wealth in society and are exploited by the Capitalist-class (bourgeoisie), to replace the bourgeoisie as the ruling class in order to establish a free society, without class or racial divisions. The dominant forms of communism, such as Leninism, Stalinism, Maoism and Trotskyism are based on Marxism, but non-Marxist versions of communism (such as Christian communism and anarcho-communism) also exist.

Karl Marx never provided a detailed description as to how communism would function as an economic system, but it is understood that a communist economy would consist of common ownership of the means of production, culminating in the negation of the concept of private ownership of capital, which referred to the means of production in Marxian terminology.

Misleading arguments by life insurance agents

Life insurance agents are trained to present strong arguments to get the unsavvy public to buy life and investment-linked policies that pay high commission to the agents. Here are some of the arguments put forward by them against term insurance:

a) Term insurance is for a certain period. After the period is over, you will not have any more life insurance cover.

b) Term insurance covers a fixed sum, which does not keep up with inflation.

These arguments are misleading and do not present an honest picture. Here are the reasons:

a) You only need life insurance cover when your children still depend on you financially. After 25 years, they have grown up. During this period, you would have accumulated sufficient savings to surpass the sum insured and will not need life insurance any more.

b) If your term insurance covers a level sum, the accumulated savings will be more than adequate to compensate for the effect of inflation. Actually, a decreasing sum insured may be adequate for most people.

The greatest danger of inflation is not on the death benefit, but on the savings in a life insurance policy. A net yield of 2% provided by a life insurance policy is not sufficient to cover inflation. It is important for a policyholder to invest the savings more wisely to get a higher return (say 4% or more) to cover inflation. A life insurance policy does not provide a fair return, due to the high charges for commission and profit.

Many agents know the facts, but they are dishonest in presenting misleading arguments, in the chase for the lucrative commission.

Tan Kin Lian