Basically it’s a set of theories that accountants come to accept, and there are always controversies with some methods between accountants like any other field of study. Accounting is a discipline that is always growing and changing so it’s a good idea to keep up to date with all of the trends that are going on. Since the management prepares the financial statements of a company it is possible that a financial statement can be altered to give a company a particular boost. So, that’s why the companies that sell their ownership to the public needs to get their financial statements audited by a public certified accountant. A certified public accountant (CPA) are licensed through the sate for the same exact reason lawyers and doctors are, so they and protect the public by providing the highest quality of professional service possible. The reason why CPAs are used is because they have no connection with the company and are independent. They have zero financing ties with the company.

Some firms that employ a lot of certified public accountants include Deloitte & Touch, KPMG, and PricewaterhouseCoopers. An accountant with no strings attached or is independent commonly performs an audit, which is evaluating a companies financial statements, product, accounting systems, and records. The main purpose of an audit is to make sure that the financial statements have been properly prepared according to the excepted accounting rules. Keep in mind; since accounting is not a precise science it has room for interpretation according to the GAPP. However, that doesn’t mean that the accountants report should contain substantial errors in the financial report, but more like that for the most report it is reliable for creditors to take a look at. An accountant can make a decision only when the financial statements conform to the guidelines of GAAP. In the past creditors, banks, and investors tend to favor an auditor when they are deciding to invest in a company or give loans, because of their independence. The individualistic audit is an extremely crucial factor in the growth of financial markets internationally.

Also, many organizations can directly or indirectly influence a GAAP. The Financial Accounting Standards Board (FASB) is the most critical body for the development and issuing of rules on accounting practice. The website I previously listed is extremely critical and you can attend seminars online for no cost, and also stay up to date with the rules. This independent body issues the Statements of Financial Accounting Standards. Next, the American Institute of Certified Public Accountants (AICPA) is the official professional association for certified accountants. It’s the largest CPA organization that exists in America and heavily influence accounting practices through its senior committees. The Securities and Exchange Commission is the agency of the federal government that legally has the power to set and execute accounting practices for companies that sell security to the public, and it has a large impact on accounting practice. Next, the governmental accounting standard (GASB) is critical for accounting because its main job is to issue the standards for accounting to the local and state governments in the United States. However, a lot of these organizations are focused on the rules in regulations in the United States.

There are a lot of businesses and accountants internationally so that’s why the International Accounting Standard Board (IASB) was formed. It was approved by more then 25 international agencies. The U.S laws that analyze the revenues for the cost of operating a business can also affect accounting practice. It’s no question that the major provider for income for the government comes from income tax. The income tax rules are heavily applies by the Internal Revenue Service (IRS). Sometimes these rules actually cause a conflict with the accepted rules of accounting. A lot of businesses use accounting practices because it’s a requirement by tax law. Also, companies can use the rules of tax law to their advantage financially. Accounting also has laws of conduct for profession, and one extremely important one is ethics. A nice website dealing with the issues of ethics is ethics.org.

It touches bases on questions that help determine if something is either right or wrong, and is based on moral decisions. Most people are faced with several ethical issues each day and, and some ethical activities could be on the range of illegal. If a business decides to use false or misleading advertising, or to bribe customers into giving them testimonials for a specific product, then they could be acting in an unethical manner. The ethics of a company could also be a result of the employees so that’s why it’s always a good idea to run a background check of who you are hiring, whether it’s online or offline.

Professional ethics is the guidelines that apply to the conduct of individuals of a certain profession. Similar to the ethical actions of a company, the ethical actions of an individual is a decision. As being a member of an organization, accountants have to take the responsibility not only to their customers and employers, but also to the general public to act in the greatest ethical way possible. Accountants are very good at following professional ethics because they are the second professional group as having the largest ethical standards, with clergy being the highest, no surprises about that one. It is important for individuals who decide to become an accountant to have the highest levels of professionalism as possible. To enforce that its prestigious members are following the rules, the AICPA along with each state have adopted some codes of professional conduct that certified public accountants have to follow.

Some simple rules are being responsible to the people that depend on the trust of accountants, such as creditors and investors. When working with people the accountant must act with integrity which means that they are honest, and the individuals gain from the visit with the accountant. The accountant must display objectivity which means that they are intellectually honest, and they must remain independent which means that they must avoid any relationship with the business or individual because it will damage the accountant’s principles.

Let’s look at the both (Seller/Buyer) scenario separately. A real estate agents who is a listing agent of seller has a fiduciary, ethically and moral duty to represent seller only.

By getting Exclusive Right to Sell Listing, the real estate agent is promising seller that he will live no stone unturned to market the home and find the best buyer at maximum possible market value for the home.

As a Buyer’s real estate agent he need to find the right home for buyer along with should all information of the community. When a buyer is exploring to buy a real estate property in new community, he is very much interested to find out several information related to that particular community such as population, crime, climate, schools, traffic, living standards etc. Buyer’s real estate agent should be well informed with all these information so that he can provide that information to buyer. It will be easier for buyer to make the decision based on these information. Once the buyer is ready to buy real estate property in the community then other part of the real estate agent’s duty starts. As buyer’s agent it is his responsibility to find a real estate property, as per buyers requirement. It is also buyer’s real estate agents duty to negotiate the best market price with seller.

So if seller and buyer are represented by their own specialized agent then both agents can play a partial and specialized role for their client..

So it is quite clear that one real estate agent representing both seller and buyer can not justify providing specialized service to both party. Both buyer and seller are in different need of services. That’s why specialized real estate service has become more in demand where buyer/seller can get impartiality specialized service during the process.

Never before has the role of specialists in the world of real estate been more important. With buyers and sellers requiring more services, the industry has seen an explosion of agents who specialize in either the representation of sellers or buyers. These specialist agents can provide a wealth of services and maintain a complete impartiality during the sales process as there is only one client to concern them.

Historically the sales transaction and the concerns of the buyer were the purview of a single realtor. However, as the industry has progressed so have the needs of each party and so the specialist arose. Buyers have some very particular needs, and specifically the need to feel that their best interests are seen to. Listing agents are representatives of the home’s owner and in that role they have a primary responsibility to that owner. How could they properly look after the needs of an interested buyer as well?

So what is it that a buyer’s agent does? Primarily the buyer’s agent will begin with the location of suitable properties for their clients. This is usually based upon a list of requirements and desires that the client has communicated to the agent. They will then arrange viewings and recap their findings with their clients and assist in deciding upon a good candidate for an offer. This will be based on the wealth of community information that a buyer’s agent commands. As specialists, they are experts on their given area which is critical in the education of clients on the areas that they are considering. Once a property is decided upon, the buyer’s agent changes significantly, evolving into an overseer-negotiator role. They will typically coordinate the inspections and conduct the negotiations with the listing agent. This includes the execution of the buyers subjects and the closing of the actual contract.

There is an art to representing a buyer. It is a role that has become ever more crucial in an industry where customer service is the single most important thing that an agent can offer. If you are in the market for a home then the buyer’s agent is the friend that you need to make sure that you are given the service that you deserve.

But you don’t have to be a financial expert to make sound decisions. A working knowledge of the lending and loan modification industry can help you better understand your situation, and know exactly what your lenders mean. Below is a list of terms you’re likely encounter in a loan modification, and what they mean for you.

Amortization: The repayment of a loan (usually a mortgage) through regular installments. The payments are determined by the term of the loan, the principal balance, and the interest rate.

Annual Percentage Rate (APR): The total cost of the loan, including the interest, mortgage insurance, points, and other associated fees.

Adjustable-Rate Mortgage (ARM): A type of mortgage in which the interest rate changes according to market conditions. This means your payments may increase or decrease from month to month. Most ARMs have a payment cap that keeps the amount from rising beyond certain levels.

Debt-to-income ratio (DTI): The ratio of the amount you pay on the loan to your total income. Lenders use this to determine whether or not you can comfortably pay the loan. According to the Federal Housing Administration (FHA), the mortgage payments should not exceed 29% of your monthly income before taxes, and your total debt (including credit cards and other loans) should not go over 41%.

Deed-in-lieu: A deed that passes interest in your property to your lender as settlement for your debt. It doesn’t let you keep your home, but it helps you avoid the foreclosure proceedings and associated costs.

Equity: The amount of financial interest you have in your own property. This is calculated by subtracting the amount you still owe from your home’s fair market value.

Fair market value (FMV): A theoretical price given to your home considering the current market conditions. The FMV assumes that the buyer and seller are acting freely and have all the pertinent information for the deal.

Fixed-rate mortgage: A type of mortgage that uses a fixed interest rate throughout the term of the loan. This gives you more stability as a borrower, as your payments will remain the same regardless of the market figures.

Foreclosure: A process wherein your property is sold off and the proceeds go to your lender, allowing them to recover their losses when you default on the loan.

Forbearance: An agreement in which your lender revises your payment plan to help you get current and avoid foreclosure. This may involve lowering your monthly payments or suspending them for a given period. Unlike loan modification, this is usually temporary and is often used as a loss mitigation option.

Good faith estimate (GFE): An estimate of the total cost of the loan, including all the closing fees, lender charges, and insurance costs. All lenders are required to give you a GFE within three days after you apply for a loan.

Interest: A percentage of the principal added to your monthly fees, as a way of paying your lender for the use of money.

Interest Only: A loan structure in which you only pay interest for the life of the loan, and pay the principal only after a given period.

Lien: A claim held by your lender against your property as a form of security in case you default on the loan.

Loan-to-value ratio (LTV): The ratio of the total amount you pay on the loan to the actual price of your home. The higher the LTV, the less you have to put out as down payment.

Loss mitigation: A process that helps borrowers to avoid foreclosure and lenders to minimize their losses on delinquent borrowers. When you fall behind or apply for a loan modification, your lender’s Loss Mitigation office will handle your case and make the decisions.

Mortgage banker: A firm that resells loans to secondary lenders, such as Fannie Mae and Freddie Mac.

Mortgage broker: A person or company that serves as a mediator between agents, buyers, sellers, and mortgage lenders. Brokers are paid by a percentage of the amount earned by the lender or seller. Lenders are required by law to disclose all fees paid to brokers and other parties, so you can be sure they’re not making kickbacks at your expense.

Mortgage insurance: An insurance policy that helps minimize losses for your lender in case you fail to keep up with payments. This is usually required for borrowers who make a down payment lower than 20% of the purchase price.

Principal Balance Reduction: A type of loan modification in which your lender reduces your principal balance to lower your monthly payments. Lenders usually grant this only to people from heavily depreciated areas, or when the amount they write off is still lower than the cost of foreclosing on your home.

Refinancing: A process wherein you take out one loan to pay off another. This allows you to enjoy better loan terms, such as a lower interest rate or a more stable structure.

RESPA: Real Estate Settlement Procedures Act. This is a law that requires all lenders to give you a Good Faith Estimate (GFE) of the loan and disclose all the fees involved. It also gives you the right to dispute any fees or even cancel the loan within a reasonable time frame.

Short sale: A common alternative to foreclosure. In a short sale, you sell the home for less than its fair market value, and give the proceeds to your lender as payment for the home. Although it won’t let you keep your home, it’s less damaging to your credit than a foreclosure.

Teaser Rate: An introductory interest rate offered on many mortgages to draw in borrowers. After the introductory period, the interest reverts to normal rates, increasing your monthly payments for the rest of the loan.

Teaser Rate: A temporary rate reduction at the inset of a loan.

TILA: Truth in Lending Act, also known as the National Consumer Credit Protection Act. This law requires lenders to give you complete information about the terms and total cost of the loan.

Types
You will find nine main types of semi-truck insurance. Commercial auto liability is the insurance required by federal law. This coverage protects other drivers on the road and property that may be damaged in an accident. The rig isn’t included in this type of insurance. Warehouse legal coverage insures goods stored at certain warehouse locations. Terminal coverage provides temporary insurance for a load that must definitely be stored at a covered location before delivery for the client. Cargo insurance covers a load that is in transit, even when the driver stops for breaks. Trailer interchange liability protects an interchange or steamship agreement trailer that is hooked to your rig. Non-owned trailer liability and non-owned trailer physical damage should usually be purchased together. These cover a trailer that is owned by someone else when it is hooked to your rig. Liability covers damage to other property and physical damage covers injury to the trailer. Non-trucking liability covers a rig that isn’t dispatched. Physical damage will be the comparable to collision insurance for a personal car.

Requirements
The minimum amount of insurance required for semi-trucks varies among states. Normally the one constant is that federal regulations stipulate that each semi-truck should have a a million commercial auto liability policy in effect anytime the rig is on the highway. Most freight owners require carriers to have at least $100,000 worth of freight insurance coverage. Physical damage coverage and non-owned trailer coverage most often have a $1,000 deductible each.

Discounts
Owner-operators along with other drivers can receive safety discounts on semi-truck insurance by completing something-Driven Driving course. This program is a training aid that focuses on helping rig operators avoid the most common types of semi-truck accidents: roll-under incidences, rear-end collisions and lane-change accidents. Many insurance companies provide program and some companies accept certificates of completion from other insurance companies.

Considerations
When trying to find a semi-truck insurance policy, you have to find out if the insurance covers your personal goods in the rig and the external wiring of the rig. The availability and specifics of these types of coverage vary with every insurance company. It is equally as important to find out if the semi-truck, trailer and cargo are covered if the rig is left unattended, such as when the driver goes into a restaurant to eat or a hotel to sleep.

Warning
Some semi-truck insurance brokers use unethical techniques to get new business. The most common way of achieving this is to contact a rig or company owner to tell him that the current policy isn’t going to be renewed at the conclusion from the policy term. The broker will refer the person to a company that may be willing to provide coverage. The referral is actually towards the company the unethical broker represents. Before responding to any notices about policy changes or cancellations, contact your current insurance agent.

For discussion purposes we are going to assume a homeowner is a short sale candidate.

For the homeowner, a short sale makes it possible to sell their home for less than the total amount owed. The sale of the property releases the homeowner from their debts and obligations without having to file bankruptcy or endure foreclosure. The homeowner is able to save their credit, regain their dignity and their peace of mind. Lastly, the homeowner will be closer to rediscovering the American dream of homeownership because they are able to amicably resolve their lender(s)’ concerns.

For the lender(s), a short sale can be less costly than foreclosure and can provide an acceptable hedge against future price declines within the market. Also, for lenders that have become insolvent and need to liquidate assets, a short sale is a way to quickly raise capital when compared to the foreclosure option – a process that could take a year or more to accomplish. Lastly, for lender(s), a short sale means a guaranteed loss now as opposed to an uncertain loss in the future. This may be in many instantances a much larger loss.

For the investor buyer, a short sale offers them the opportunity to “Buy a property for as much as 40% or more below market value.” This discount means that they are able to make substantial profits.

For the home buyer, a short sale offers them the opportunity to buy a more affordable home. For some, this is the only way to experience the American dream and obtain homeownership, as the lower price relates to a lower and more affordable monthly mortgage payment.

For the Realtor or consultant, a short sale provides the opportunity to earn a fee or commission for helping a struggling homeowner. In many down markets short sales are the only viable option for continued real estate sales. During difficult economic times and recessions, one or two extra sales per month may be the difference between earning a living or looking for another job. Those extra sales each month can come from negotiating a short sale.

If you are a Property Owner and realize the benefit of negotiating a short sale for your property instead of facing foreclosure or bankruptcy, then we encourage you to Become a Property Owner Member today!

If you are a Realtor and realize the benefit of being able to negotiate short sales, sell discounted properties, and increase your ability to take future listings, then Become a Realtor Member today!

If you are an Investor and realize the benefit of having access to a step-by-step system that teaches you how to successfully negotiate and purchase properties, discounted up to 40% or more below market value, then Become an Investor Member today!

We offer dozens more free articles on our site as well as the Internet’s first step-by-step, “how to” guide that walks everyday people as well as seasoned professionals through successfully negotiating their very own real estate short sales – and at a price you can afford.

Now don’t get me wrong; it’s not that failing to attract clients makes one a bad person. Not at all. It’s just that when I hear the following excuses I feel compelled to call ‘em as I see ‘em: Baloney!

If you have the mistaken notion that any of these lame excuses are the reason that your business isn’t successful, get a clue. These are just EXCUSES for people who fail, not reasons not to succeed (a subtle, yet important, difference).

1. “I’m too honest to market.” OK, this little gem is at the top of my list because it is both a lie AND an insult! I am a marketer by trade, and I am honest, so I know for a fact that marketing is not a dishonest process or practice, nor does it have to be dishonest to be effective. What’s dishonest is when you overstate your results, or if you truly don’t believe that your product or service is worth what you charge, or if you deliberately intend to defraud people. In that case, the problem is with you, not marketing, so stop insulting the rest of us.

2. “I’m too modest to market myself.” Listen up, princess, every word out of your mouth doesn’t have to be about YOU. Think about what your clients want, need and actually get, and that’ll keep the conversation going for as long as you need it to go. Hey, if you’re not comfortable saying great things about yourself, start saying great things about what your clients get out of working with you. Or better yet, let them say it for you in the form of testimonials. But don’t think that you have to be the subject of every fascinating conversation you have with prospects.

3. “I’m too shy to market myself.” As a highly sensitive person myself, you’d think I’d have more sympathy for this excuse, but I don’t. If you want to be successful, know right now that it may not always be comfortable, and you have to be willing to do what it takes to succeed, even if that means going outside your comfort zone. Shyness is a habit that can be overcome with practice, so join Toastmasters, or see a therapist if that’s what it is going to take, but get over yourself. I promise you will be glad you did.

4. “I’m too creative to market myself.” This excuse is really lame! Marketing is a very creative process, and since you have literally thousands of options when structuring your marketing plans, creativity is an asset, not a liability. Unless you’re one of those I-am-a-self-indulgent-whiner-who-refuses-to-accept-any-responsibility-for-my-actions-and-masks-that-character-flaw-with-claims-of-misunderstood-or-excessive-creativity kinds of people, in which case I say, grow up, and while you’re at it, think up a more creative excuse.

5. “I don’t have enough time to market my business.” OK, this excuse sounds good at first, but in reality it doesn’t wash. Either you are already marketing but not acknowledging your marketing activities as such, or your business is so busy that you don’t need to market at all, which makes this excuse unnecessary. So if you haven’t got all the business you want but you don’t have time to market, you need to reevaluate how you’re spending your time, and make some tough decisions about when you are going to do what you need to do to get those clients.

6. “I don’t have enough money to market my business.” Again, you get points for trying, but this is still just an excuse, because good marketing isn’t about money, it’s about relationships. You can start very modestly with your marketing plans, and spend nothing but your time. And let me tell you, if you can’t get some traction spending 40 hours a week trying to build your business relationships, maybe you should rethink your decision to be an entrepreneur.

7. “I have no personal network to market to.” Oh please, you’ve got to have a better excuse than this! If you truly have no family, no friends, no colleagues, no acquaintances or no former co-workers, then start meeting some. I don’t care if you’ve been on a desert island for the past 20 years, you can always meet people through networking meetings, trade associations, classes, social clubs, or at the gym! Just pick up the phone and call the people you want to know, get out there and mingle, and your personal network will grow quickly.

8. “My product or service is too hard to explain to people.” Fine. Quit explaining what you do, and start talking about what your customers GET from working with you. Do you help your customers get thinner, smarter, married, fitter, their first home, or what? Seriously, nobody cares about what you do, really; people care about what they get. Get it?

9. “My product or service is so good that it should sell itself.” Sure, that’s probably true if your product is a talking monkey, or your clients are all telepaths, but other than that, it’s going to take a little effort on your part, bucko, so start creating some momentum in the marketplace and you’ll find that your product needs less and less of your efforts to sell, until one day it almost seems like it DOES sell itself!

10. “My niche is too narrow and I can’t find my customers.” Hogwash. What this usually means is that you haven’t yet defined your customer, because you can’t find what you haven’t identified (and don’t give me that you’ll-know-them-when-you-see-them line). Start with a matrix of situation and need to identify that client. For example, let’s say you’re a financial planner, and you think your clients are “people who want to get their financial affairs in order.” Think instead about who needs to get their financial affairs in order, and you’ll probably come up with something like “married couples with children who have $X in assets and need to protect those assets with planning.” And you can certainly find those people, can’t you?

So we’ve blasted all these lousy excuses, but we haven’t yet addressed the biggest excuse of all: fear. Most of the time I’ve found that the more excuses my clients offer for not moving forward with their businesses, the more fearful they are.

Hey, I understand, and I’ve been there myself. But what it comes down to is this: Are you more afraid of succeeding (or failing) than you are of going back to work for that idiot boss you always end up working for? If the answer is that you’re more afraid of facing the personal responsibility of entrepreneurship than of any garbage your boss could throw at you, then good-bye entrepreneur, and hello wage-slave.

But if you think that the worst possible scenario is working for some moron again, and that you’ll happily work like a dog if that’s what it takes just so you don’t have to slink back into that stinking office with your tail between your legs, good for you. It’s time to forget about excuses, and start figuring out how to make this whole self-employed thing work for you.

The first thing to understand is that fear is OK. Yes, we’ve all been fearful (and yes, I include myself in that “we” statement). It can be scary picking up the phone. It can be scary going to a sales meeting.

But at the end of the day, isn’t your product or service of value to someone? Aren’t people glad (or going to be glad) that you’ve solved a problem for them? So stop worrying and fearing the marketing process, and remember this: Marketing is really nothing more than the process of developing relationships, and you, my friend, can do that in your sleep.

Veronika (Ronnie) Noize, the Marketing Coach, is a successful Vancouver, WA-based entrepreneur, author, speaker, and Certified Professional Coach.  Through coaching, classes and workshops, Ronnie helps small businesses attract more clients. For free marketing resources including articles and valuable marketing tools,.

Life insurance basic terms as you know is an important factor in every person’s life and when it comes to life insurance age is not the main criteria when it comes to get your life insured. American Life Insurance also known as AIG insurance company and majority of Americans has insured themselves with this life insurance company. The market value of this company is high and you can find the companies ratings in the financial books due to their vast financial transactions with other financial institutes.

There are two major life insurance policies that this AIG Insurance Company deals with i.e. the Term Life Insurance and Whole Life Insurance. In case of Term Life Insurance the policy taken is for a short period of time and Whole Life Insurance is where you get yourself insured for your whole life.

AIG insurance company is one such life insurance company that charters to the needs of the common person. One of the benefits of getting insured in this life insurance company is that you reap a rich harvest of life insurance benefits on all your life insurance policies which no other life insurance company provides you as this company provides you with the benefits when you are still alive.

This life insurance company in order to increase its relationship with their vast flowing customer’s have started life insurance online services which has made it easy and convenient for them to get themselves and their family members insured staying within the very comforts of their own house. AIG Insurance is one of the most sought of companies and it is a tough competitor to other life insurance companies.

If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit?

Hope they paid their insurance bills

If you’re a beneficiary and you find the lost life insurance policy shortly after the insured dies (within six months to a year, for example), claiming the death benefit should be trouble-free.

First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you’ll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.

If the insured had a permanent life policy, you’ll receive the money if the death occurred while the policy was “in force,” meaning all premium payments were made up until the time of death. If the death was a while ago, you’ll receive the benefit with interest from the date of death.

If the life insurance policy lapsed — meaning the insured stopped making premium payments before he died — there’s a chance you might get nothing. When a permanent life insurance policy lapses, most insurance companies switch its status from permanent insurance to one of two options:

“Extended term” — The insurance company uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. The death benefit will continue for the longest period the cash value will purchase.

“Reduced paid up” — The insurance company will keep the policy in force permanently, but will reduce the death benefit.

Gerry Brogla, an actuary for State Farm, says in the majority of the cases at his company, the permanent policy continues as extended term if it lapses. At State Farm, extended term is the default option for most permanent policies.

If the policy lapses, and the extended-term period expires before the insured dies, the policy is worthless and the life insurance beneficiary will get nothing. If the insured dies before the extended-term period is up, the beneficiary will receive the death benefit. If the policy lapsed because the insured died (thus ending premium payments and causing the insurance to be placed in extended-term status), the beneficiary will still collect the full death benefit, regardless of when the extended term was up. The beneficiary always needs to supply the insurance company with a death certificate to verify the date of death.

There is no time limit during which a life insurance beneficiary must step forward to collect the money, according to Jack Dolan, spokesman for the American Council of Life Insurers. “If a person shows up 30 years after [the insured's] death, the company still makes good on it,” Dolan assures.

What happens if no one ever reports the death?

If the insured dies and the insurance company does not learn of the death, the policy lapses. Insurance companies will take steps to find out why a policyholder stopped making payments.

When an insurance company stops getting payments, it sends letters to the insured informing him the policy may lapse as a result of unpaid premiums. If the letters go unanswered, the company might initiate a search to find the insured. If that comes up empty, the company will then lapse the policy.

If a beneficiary to a policy never steps forward, it unfortunately means the insured paid money to a policy throughout his life and his beneficiaries never see a penny. This is why its a good idea to make sure beneficiaries are aware of any life insurance policies you have.

If you’re lucky, the state may have your money

In some cases when a beneficiary fails to claim a death benefit for several years, the money is transferred to the state where the insurance policy was purchased under the escheat laws.

If a company knows an insured died and it cannot find the beneficiary, it must turn the full death benefit over to the state comptroller’s department within three to five years of the insured’s death. The money is transferred to the state where the insured bought the policy. The money is considered “unclaimed property” and gets lumped in with dormant bank accounts and uncollected rent deposits. The comptroller’s department maintains a database that lists the names and addresses of lost life insurance beneficiaries.

Many states will try to contact life insurance beneficiaries in an effort to pay the death benefits. In Texas, for example, the names and addresses of the beneficiaries are published annually in each county in the state. In New York, the Web site of the New York State Comptroller’s Office of Unclaimed Funds has an online search to find any unclaimed death benefits owed to you. You can find out the procedures in your state by contacting the office of your state comptroller or treasurer.

Keep in mind your chances of finding the policy with the state are slim. The insurance company has no obligation to hand the money over to the state if it’s unaware the insured died. In most cases, it’s the beneficiary who contacts the insurance company.

Also, the insurer only transfers the money to the state three to five years after it cannot find the beneficiary but knows the insured died. If the state doesn’t have the death benefit, it’s likely the insurer is still looking for the beneficiary or doesn’t know the policyholder has died.

Unclaimed death benefits are rarely transferred to the state. Dave Potter, a spokesman for Hartford Life, says less than 1 percent of his company’s death benefits go unclaimed.

Del Chance, a life insurance claims manager at State Farm, says, “Turning over life policy benefits to an individual state after the death of an insured is extremely rare. State Farm utilizes their own search techniques as well as outside vendors to locate lost beneficiaries in the event of the death of one of our insureds. By and large these procedures have always located the beneficiary.

Tips for making sure your life insurance beneficiaries get your death benefit:

1. Give your beneficiaries your policy information. It can be a difficult and awkward conversation, but an important one.
2. Keep all your financial records (especially your life insurance policies) in one place. Don’t force your beneficiaries to search your house from top to bottom after you die.

Tips for looking for lost life insurance policies:

1. Go through canceled checks or contact your relative’s bank for copies of old checks. Look for checks made out to insurance companies.
2. Ask those who may have known about your relative’s finances. Speak with the relative’s lawyer, banker or accountant. Also contact the relative’s insurance agent.
3. Contact your relative’s past employers. They might know of possible group life insurance. The insured might have also purchased supplemental life insurance through work.
4. Check the mail for a year. Premium bills and policy-status notices are usually sent annually.
5. Look at income tax returns for the past two years. Check for interest income from policies or expenses paid to life insurance companies.
6. Contact the Medical Information Bureau. If your relative bought life insurance fairly recently, there might be a trail of the companies to which he applied. The Medical Information Bureau (MIB) maintains a database that might show if insurers requested your relative’s medical information within the past seven years. Record searches can be requested through the MIB’s Policy Locator Service and cost $75. The MIB says that nearly 30 percent of searches turn up leads.

Facilities Management Services market in India has immense potential and is expected to reach USD 6 bn by 2012. Many international property consultants have entered the market in metros and are expanding in Tier I and Tier II cities as well. However, only a small segment is organized in this space and major players are looking for acquisitions and joint ventures to expand their business.

With growing IT/ITES, real estate and retail sectors, the market is upbeat for facilities management services in India. International real estate consulting giants have entered this market and aims at increasing their market share through organic as well as inorganic growth. Unorganized nature and presence of large number of small local players provides good opportunities for international players to expand through acquisitions.

The report provides a snapshot of the facilities management services market in India, including an introduction to the types of services provided and target audience. It provides the market size, growth and market share of the organized/unorganized sector, and geographic overview along with a region-wise split in India. Key drivers of the market are highlighted and major issues/challenges hindering growth are also covered in the report. Current trends in the facilities management services market are discussed in a separate section. Competitive landscape provides the list of major international and domestic players including the employee strength, types of services and future plans for each player.

Two Important Short-Term Business Finance Options

Two of the most overlooked short-term working capital business loan strategies are short-term commercial mortgage loan programs and business cash advance programs in conjunction with credit card processing. Both of these business finance options are relevant for most business owners but are frequently misunderstood.

Short-term Programs for Commercial Real Estate Investment Financing

A long-term business loan is appropriate for many businesses that own commercial real estate investment property. Business properties should normally be financed with a combination of short-term and long-term business finance funds. When a longer-term commercial mortgage is viable, it is preferable to secure long-term business financing, preferably for 30 years.

However there will be many commercial mortgage loan situations in which longer-term real estate business financing is not appropriate for the business owner. In such circumstances it is important for a business owner to realize that there are viable short-term working capital management options.

When a Short-Term Commercial Mortgage is Appropriate

If a business owner plans to sell or refinance their business within a few years, it is preferable to explore short-term business finance options. The best short-term business loan will have minimal prepayment penalties in comparison to terms commonly included with long-term commercial real estate investment property financing.

The avoidance of business finance prepayment fees and lockout fees fees in some short-term business financing programs is an important benefit of these short-term commercial mortgage approaches. The absence of these potential fees could produce a savings of up to 20% or more if the business property is sold during the period which would have involved lockout fees in a longer-term commercial loan.

Short-Term Commercial Real Estate Investment Property Financing Limitations

There are some trade-offs that need to be understood if a business owner chooses shorter-term business financing even though prepayment fees will usually be avoided with a short-term business loan. When short-term commercial real estate financing is a realistic option, the loan-to-value will usually be no higher than 70%, the commercial mortgage will not be readily available for special purpose business investment properties such as golf courses and the interest rate will frequently be in the range of about 12%.

Best Investing Possibilities for a Short-Term Commercial Mortgage Loan

Warehouse, multi-family, office, mixed-use and retail business properties are the best possibilities for short-term business financing. Business owners should be comfortable with a time period of less than three years for a typical short-term business loan.

Fewer Mortgage Lenders for a Short-Term Commercial Real Estate Loan

There will typically be a very small number of commercial real estate investment property lenders who are effective at implementing the short-term commercial mortgage loan strategy properly. There are also a number of problems to be avoided with a short-term commercial real estate loan, so choosing an appropriate provider is extremely important to any business owner considering a short-term business finance program.

Credit Card Processing and Business Cash Advance Programs

For any business that accepts credit cards as a method of payment, a business cash advance is a critical working capital management tool that is often overlooked. Even thriving businesses frequently need more working capital than they can borrow. One of the least-known business finance strategies for successful businesses is potentially the single best working capital loan strategy for obtaining needed cash for growing their business: the use of a merchant cash advance or business cash advance program.

Primary possibilities to take advantage of this business financing program are service and retail businesses. This credit card processing and credit card financing strategy uses credit card receivables to determine the amount of a merchant cash advance.

Working Capital Management: Credit Card Financing and Credit Card Processing

This business financing technique is called credit card financing or credit card factoring. Some business owners might have used a business finance technique referred to as receivables factoring to sell future receivables at a discount and receive immediate cash.

Many service and retail businesses cannot document business receivables to obtain a business loan. Businesses such as bars and restaurants do not typically have receivables to use for business financing.

What these businesses do have in many cases is documented sales volume and documented credit card sales activity. It is this documented level of sales volume and credit card sales activity that becomes a financial asset to the business and its business finance strategies. Business cash advances from $5,000 to $300,000 can usually be obtained based on a merchant’s sales volume and future credit card sales.

A business financing merchant cash advance must usually be paid back in less than 12 months. For business owners that want to renew the working capital cash advance program, it is typically possible to get more working capital after payback of the initial advance.

Limitations and Problems to Avoid with Credit Card Processing and Merchant Cash Advance Programs

As with any successful business finance strategy, there will typically be only a small number of commercial lenders who are effective at implementing this working capital management strategy properly. There are also a number of problems to be avoided with business cash advance programs, so choosing the appropriate provider of this commercial financing service is extremely important to any business owner considering a credit card financing program.