A 49.5 se cotiza, en www.intrade.com, la probabilidad de una recesión en USA.
En la encuesta de Yahoo, 59% de los encuestados consideran que se avecina una recesión en USA.
miércoles, 19 de diciembre de 2007
Recesión en USA
A 49.5 se cotiza, en www.intrade.com, la probabilidad de una recesión en USA.
En la encuesta de Yahoo, 59% de los encuestados consideran que se avecina una recesión en USA.
lunes, 3 de diciembre de 2007
domingo, 2 de diciembre de 2007
The Lies That (Some) Financial Advisers Tell
Traducir al español
I recently ran across an interesting article by Ric Edelman in Bottom Line/Personal (no link, sorry). In it, he ran down a list of the biggest lies that you’ll hear from a financial adviser, and how they could cost you money. What follows is a synopsis of that article, along with some thoughts of my own. While it may be a stretch to call some of these things “lies,” they certainly can be misleading.
-You should rebalance your portfolio once a year.
In truth, Edelman argues that once per year isn’t enough. Because market fluctuations can knock your portfolio allocation out of whack, it’s important to periodically rebalance it. But if you blindly choose a specific date, Edelman worries that it might wind up being the wrong time of year, or that you might have waited too long to react to a significant shift in the market. Rather, you should rebalance as soon as any investment category shifts by a predetermined amount. The example that Edelman gives is a target allocation of 10% in small caps. If your portfolio drifts to the point that you’re now holding 8% or 12% in this category, you should consider rebalancing to get back to the 10% target.
All in all, this makes sense, and it helps to ensure that you are selling high and buying low. The only real ‘gotcha’ here is to be aware of the potential tax consequences. In particular, rebalancing by buying/selling in a taxable account could result in a nasty surprise come tax day. An alternative strategy would be to simply shift your contribution amounts such that you are buying more of one class and less of another until things get back in line. Another option would be to use so-called Target Retirement funds, which automatically adjust to track an age-appropriate allocation.
-You should shift all of your accounts to more conservative investments as you approach retirement.
Instead of using your retirement date as the guiding force, you should focus on when you expect to start tapping into a certain account. This makes sense to me because retirees are living longer than ever before, and shifting to an overly conservative mix too soon could easily cause you to run out of money before you run out of days. According to Edelman, you should maintain a more aggressive investment mix in accounts that you won’t be tapping for seven or more years, whereas you should to an increasingly conservative mix after that until you’ve achieved the desired conservative stance about three years before the anticipated withdrawal dates.
-The stock market will crash between 2017 and 2024.
The logic here is that when baby boomers start retiring in droves, they’ll start liquidating their stock holdings. According to Edelman, however, there’s no reason to think that this batch or retirees will be too different from those that have gone before them. Thus, he expects them to gradually liquidate holding as needed, rather than staging a massive sell off.
-Retirees who focus on investment income should focus primarily on interest-yielding bonds and CDs.
According to Edelman, this strategy causes your income to fluctuate too much, depending on the vagaries of interest rates. If rates fall, you’ll have less cash coming in and will have to scale back your lifestyle. While creating a CD ladder can help smooth out interest rate fluctuations, but if you spend out the interest every year then you’re exposing yourself to inflationary risk (i.e., your principal won’t increase, so your interest won’t increase even though prices will).
Edelman recommends adding dividend-paying stocks the income portion of your portfolio. If the resulting income isn’t sufficient, you’ll be able to sell a portion of your assets that have (hopefully) appreciated. Of course, there’s also the risk that your stock won’t appreciate, and you’ll be stuck in the same pickle.
-Try to have enough saved up to pay for college based on the projected costs based on when your kids will matriculate.
The danger here is that college costs will continue to rise while your kids are in school. Thus, if tuition is $30k/year when your child starts school and prices continue to increase at 7%, the total cost will be $133,198 rather than $120,000.
Of course, this assumes that you want to pay for your kids’ (or grandkids’) college in the first place. But assuming that you do, it’s something to keep in mind.
I recently ran across an interesting article by Ric Edelman in Bottom Line/Personal (no link, sorry). In it, he ran down a list of the biggest lies that you’ll hear from a financial adviser, and how they could cost you money. What follows is a synopsis of that article, along with some thoughts of my own. While it may be a stretch to call some of these things “lies,” they certainly can be misleading.
-You should rebalance your portfolio once a year.
In truth, Edelman argues that once per year isn’t enough. Because market fluctuations can knock your portfolio allocation out of whack, it’s important to periodically rebalance it. But if you blindly choose a specific date, Edelman worries that it might wind up being the wrong time of year, or that you might have waited too long to react to a significant shift in the market. Rather, you should rebalance as soon as any investment category shifts by a predetermined amount. The example that Edelman gives is a target allocation of 10% in small caps. If your portfolio drifts to the point that you’re now holding 8% or 12% in this category, you should consider rebalancing to get back to the 10% target.
All in all, this makes sense, and it helps to ensure that you are selling high and buying low. The only real ‘gotcha’ here is to be aware of the potential tax consequences. In particular, rebalancing by buying/selling in a taxable account could result in a nasty surprise come tax day. An alternative strategy would be to simply shift your contribution amounts such that you are buying more of one class and less of another until things get back in line. Another option would be to use so-called Target Retirement funds, which automatically adjust to track an age-appropriate allocation.
-You should shift all of your accounts to more conservative investments as you approach retirement.
Instead of using your retirement date as the guiding force, you should focus on when you expect to start tapping into a certain account. This makes sense to me because retirees are living longer than ever before, and shifting to an overly conservative mix too soon could easily cause you to run out of money before you run out of days. According to Edelman, you should maintain a more aggressive investment mix in accounts that you won’t be tapping for seven or more years, whereas you should to an increasingly conservative mix after that until you’ve achieved the desired conservative stance about three years before the anticipated withdrawal dates.
-The stock market will crash between 2017 and 2024.
The logic here is that when baby boomers start retiring in droves, they’ll start liquidating their stock holdings. According to Edelman, however, there’s no reason to think that this batch or retirees will be too different from those that have gone before them. Thus, he expects them to gradually liquidate holding as needed, rather than staging a massive sell off.
-Retirees who focus on investment income should focus primarily on interest-yielding bonds and CDs.
According to Edelman, this strategy causes your income to fluctuate too much, depending on the vagaries of interest rates. If rates fall, you’ll have less cash coming in and will have to scale back your lifestyle. While creating a CD ladder can help smooth out interest rate fluctuations, but if you spend out the interest every year then you’re exposing yourself to inflationary risk (i.e., your principal won’t increase, so your interest won’t increase even though prices will).
Edelman recommends adding dividend-paying stocks the income portion of your portfolio. If the resulting income isn’t sufficient, you’ll be able to sell a portion of your assets that have (hopefully) appreciated. Of course, there’s also the risk that your stock won’t appreciate, and you’ll be stuck in the same pickle.
-Try to have enough saved up to pay for college based on the projected costs based on when your kids will matriculate.
The danger here is that college costs will continue to rise while your kids are in school. Thus, if tuition is $30k/year when your child starts school and prices continue to increase at 7%, the total cost will be $133,198 rather than $120,000.
Of course, this assumes that you want to pay for your kids’ (or grandkids’) college in the first place. But assuming that you do, it’s something to keep in mind.
martes, 27 de noviembre de 2007
Bupa, nueva línea de productos.
El día de ayer tuvimos la oportunidad de asistir al seminario de la nueva linea de productos de Bupa. Entre las características novedosas podemos mencionar:1.- Los productos no tienen coaseguro.
2.- Opción de deducible $00.00 en el país de origen.
3.- Máximo de 2 deducibles por año, por familia.
4.- Los deducibles incurridos en los últimos 3 meses (año póliza), aplican para el próximo año.
5.- En lo que respecta a la suscripción de negocios, existen 3 posibilidades; extraprimar, copago únicamente para la condición en cuestión o excluir la condición. Todo con el ánimo de acpetar al prospecto.
6.- Deportes peligrosos estan cubiertos. En el plan complete, incluso para quienes los practican profesionalmente.
7.- Maternidad no aplica deducible (10 meses de período de espera)
8.- Los rangos de cambio de primas son cada 5 años, y de los 70 a los 75 años es anual y de los 75 años en adelante ya no hay cambio de rango.
Estas son algunas de las características de la nueva linea de productos.
viernes, 23 de noviembre de 2007
50 Ways I Can Improve Myself
Traducir al Español
Physically
1. Simple food, quality, quantity.
2. Regularity in eating and sleep.
3. Masticate (means chew your food); leave table hungry.
4. We are a part of all we have eaten.
5. Exercise, five minutes, three times daily.
6. Air — most important.
7. Sunlight, artificial light.
8. Water inside and outside.
9. Loose clothing.
10. Early to sleep; get plenty.
Mentally
1. Think sanely.
2. Learn from mental superiors.
3. Learn to listen attentively.
4. Read best newspapers and books.
5. Improve the memory.
6. Concentrate.
7. Don’t worry unnecessarily.
8. Be systematic.
9. Weigh both sides.
10. Avoid inferior minds.
Morally
1. Right is right, wrong is wrong.
2. Be truthful.
3. Ignore precedent if wrong.
4. Seek elevating recreation.
5. Don’t deceive yourself.
6. Learn to say “no.”
7. Live up to your principles.
8. Avoid temptation.
9. Form good habits.
10. Have a constitution.
Financially
1. Increase my earnings.
2. Decrease unnecessary expense.
3. Save money, U.S. Postal Bank.
4. Money makes money.
5. Invest — don’t gamble.
6. Make family budget.
7. Hard work.
8. Study the business.
9. Pay cash for everything.
10. Increase credit balance.
Socially
1. Avoid bad associates.
2. Select helpful friends.
3. Think alone.
4. Learn to be happy alone.
5. Family best company.
6. Work out, alone, my problems.
7. Avoid so-called society.
8. Entertain economically.
9. Stand well with neighbors.
10. Do some welfare work.
Physically
1. Simple food, quality, quantity.
2. Regularity in eating and sleep.
3. Masticate (means chew your food); leave table hungry.
4. We are a part of all we have eaten.
5. Exercise, five minutes, three times daily.
6. Air — most important.
7. Sunlight, artificial light.
8. Water inside and outside.
9. Loose clothing.
10. Early to sleep; get plenty.
Mentally
1. Think sanely.
2. Learn from mental superiors.
3. Learn to listen attentively.
4. Read best newspapers and books.
5. Improve the memory.
6. Concentrate.
7. Don’t worry unnecessarily.
8. Be systematic.
9. Weigh both sides.
10. Avoid inferior minds.
Morally
1. Right is right, wrong is wrong.
2. Be truthful.
3. Ignore precedent if wrong.
4. Seek elevating recreation.
5. Don’t deceive yourself.
6. Learn to say “no.”
7. Live up to your principles.
8. Avoid temptation.
9. Form good habits.
10. Have a constitution.
Financially
1. Increase my earnings.
2. Decrease unnecessary expense.
3. Save money, U.S. Postal Bank.
4. Money makes money.
5. Invest — don’t gamble.
6. Make family budget.
7. Hard work.
8. Study the business.
9. Pay cash for everything.
10. Increase credit balance.
Socially
1. Avoid bad associates.
2. Select helpful friends.
3. Think alone.
4. Learn to be happy alone.
5. Family best company.
6. Work out, alone, my problems.
7. Avoid so-called society.
8. Entertain economically.
9. Stand well with neighbors.
10. Do some welfare work.
Napoleon Hill
Traducir al Español
Napoleon Hill’s Six Ways to Turn Desire Into Gold:
1. Fix in your mind the exact amount of money you desire. it is not sufficient merely to say “I want plenty of money.” Be definite as to the amount. (There is a psychological reason for definiteness.)
2. Determine exactly what you intend to give in return for the money you desire. (There is no such reality as “something for nothing.”)
3. Establish a definite date when you intend to possess the money you desire.
4. Create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put his plan into action.
5. Write out a clear, concise statement of th eamount of money you ntend to acquire, name the time limit for its acquisition, state what you intend to give in return for the money, and describe clearly the plan through which you intend to accumulate it.
6. Read your written statement aloud, twice daily, once just before retiring at night, and once after arising in the morning. As you read—seeand feel and believe yourself already in possession of the money.
All the steps are necessary. What’s cool about this method is that it can be used for accomplishing anything, not just the attainment of money. I could see this applied to goals like losing weight, training for a marathon, getting a degree, etc.
Napoleon Hill’s Six Ways to Turn Desire Into Gold:
1. Fix in your mind the exact amount of money you desire. it is not sufficient merely to say “I want plenty of money.” Be definite as to the amount. (There is a psychological reason for definiteness.)
2. Determine exactly what you intend to give in return for the money you desire. (There is no such reality as “something for nothing.”)
3. Establish a definite date when you intend to possess the money you desire.
4. Create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put his plan into action.
5. Write out a clear, concise statement of th eamount of money you ntend to acquire, name the time limit for its acquisition, state what you intend to give in return for the money, and describe clearly the plan through which you intend to accumulate it.
6. Read your written statement aloud, twice daily, once just before retiring at night, and once after arising in the morning. As you read—seeand feel and believe yourself already in possession of the money.
All the steps are necessary. What’s cool about this method is that it can be used for accomplishing anything, not just the attainment of money. I could see this applied to goals like losing weight, training for a marathon, getting a degree, etc.
jueves, 22 de noviembre de 2007
domingo, 18 de noviembre de 2007
Gift Cards, can cover Insurance and Medical Fees
Traducir al español
Well Wishes: Highmark's Gift Cards Can Cover Insurance, Medical Fees
by Kris Maher
Monday, November 12, 2007
Wondering what to give your aunt this Christmas? How about paying for her next trip to the chiropractor?
Pittsburgh health insurer Highmark Inc. is selling a Healthcare Visa Gift Card from $25 to $5,000 to cover prescription co-payments, elective surgery, contact lenses and gym membership.
The cards can be used only at providers or merchants that Visa categorizes as health related, including physician's offices, pharmacies and health clubs.
The cards aren't available at grocery or retail stores -- they can only be purchased online or by calling a toll-free number.
Highmark believes that the card fills a need for many people who want to help others -- from college students to baby boomers -- with various expensive health-related needs, but feel uncomfortable about offering cash.
"There's something about a gift card," said Kim Bellard, vice president of e-marketing and customer relations at the insurer, which is marketing the card as a stocking stuffer or as a year-round gift. "They view it as a present, not as charity."
In the case of college students, an added appeal is that students would have to use the card for health expenses, rather than using the funds to buy clothes or an iPod, for instance. "You would give this card if you want to make sure that they have funds for health-related purchases," Mr. Bellard said.
The popularity of gift cards has soared in recent years, as restaurants and specialty stores have begun selling them at supermarkets and other high- traffic retail outlets.
During last year's holiday shopping season, gift-card sales rose by 32% to $25 billion, according to the National Retail Federation, an industry group located in Washington.
Some health-care experts expect the card to have only limited appeal.
"I assume there will be a demand for it, but it's a niche product," said William Custer, director of the Center for Health Services Research at Georgia State University in Atlanta.
Highmark expects to sell "several hundred thousand" gift cards, mostly between $75 and $100, during the next year, Mr. Bellard said.
The company is initially marketing the product in Pennsylvania, but expects to expand nationwide at some point in the future.
Highmark administers health plans that cover 4.6 million people.
The Highmark gift card, which contains the Visa logo, is issued by Meta Financial Group Inc.'s MetaBank, a bank and prepaid-card issuer in Sioux Falls, S.D., through a licensing agreement with Visa Inc.'s Visa USA Inc.
Each card has a fee of $4.95, plus shipping and handling.
Copyrighted, Dow Jones & Company, Inc. All rights reserved.
Well Wishes: Highmark's Gift Cards Can Cover Insurance, Medical Fees
by Kris Maher
Monday, November 12, 2007
Wondering what to give your aunt this Christmas? How about paying for her next trip to the chiropractor?
Pittsburgh health insurer Highmark Inc. is selling a Healthcare Visa Gift Card from $25 to $5,000 to cover prescription co-payments, elective surgery, contact lenses and gym membership.
The cards can be used only at providers or merchants that Visa categorizes as health related, including physician's offices, pharmacies and health clubs.
The cards aren't available at grocery or retail stores -- they can only be purchased online or by calling a toll-free number.
Highmark believes that the card fills a need for many people who want to help others -- from college students to baby boomers -- with various expensive health-related needs, but feel uncomfortable about offering cash.
"There's something about a gift card," said Kim Bellard, vice president of e-marketing and customer relations at the insurer, which is marketing the card as a stocking stuffer or as a year-round gift. "They view it as a present, not as charity."
In the case of college students, an added appeal is that students would have to use the card for health expenses, rather than using the funds to buy clothes or an iPod, for instance. "You would give this card if you want to make sure that they have funds for health-related purchases," Mr. Bellard said.
The popularity of gift cards has soared in recent years, as restaurants and specialty stores have begun selling them at supermarkets and other high- traffic retail outlets.
During last year's holiday shopping season, gift-card sales rose by 32% to $25 billion, according to the National Retail Federation, an industry group located in Washington.
Some health-care experts expect the card to have only limited appeal.
"I assume there will be a demand for it, but it's a niche product," said William Custer, director of the Center for Health Services Research at Georgia State University in Atlanta.
Highmark expects to sell "several hundred thousand" gift cards, mostly between $75 and $100, during the next year, Mr. Bellard said.
The company is initially marketing the product in Pennsylvania, but expects to expand nationwide at some point in the future.
Highmark administers health plans that cover 4.6 million people.
The Highmark gift card, which contains the Visa logo, is issued by Meta Financial Group Inc.'s MetaBank, a bank and prepaid-card issuer in Sioux Falls, S.D., through a licensing agreement with Visa Inc.'s Visa USA Inc.
Each card has a fee of $4.95, plus shipping and handling.
Copyrighted, Dow Jones & Company, Inc. All rights reserved.
jueves, 8 de noviembre de 2007
Target Date Indices
Traducir al Español
Business Wire - Press Release
Zacks Launches Lifecycle Indices
10.01.07, 12:25 PM ET
Zacks Investment Research, Inc. is pleased to announce the launch of industry's first lifecycle index series. In a lifecycle program, investors simply select the fund whose target date best matches the year they plan to access their money and the rest is on autopilot. At inception, lifecycle balances have a relatively aggressive equities tilt. Then, as the pre-set target date approaches, assets gradually move along a risk "glidepath" towards more conservative fixed income positions. At all points along the glidepath, assets are prudently diversified by sector, capitalization, duration, and country.
The following are the Zacks target date indices: -0- *T Zacks 2040 Lifecycle Index Zacks 2030 Lifecycle Index Zacks 2020 Lifecycle Index Zacks 2010 Lifecycle Index Zacks At Target Lifecycle Index *T
Lifecycle funds have grown in popularity among retirement plan participants, goal-based planners, and more recently, federal regulators, because they remove investor emotions from key reallocation and asset selection decisions. While Zacks agrees that such control of human behavior improves investment outcomes, the firm notes that: -0- *T 1) Most managers assume their lifecycle funds will be used only for retirement planning. Since these glidepaths target actuarial life expectancies, they carry very high levels of risk as stated maturity dates approach. 2) In 401(k) and other qualified retirement plan markets, there is growing demand for lifecycle vehicles that are free of conflicts of interest. *T
Retirement and More: According to Michael Case Smith of the Zacks Index and Allocation Group, "The industry average allocation to equities in 2010 funds is 52%. That may be the right answer for a Monte Carlo simulation but the wrong one for investors with three years to go before they fund a retirement annuity, a vacation home, education, a wedding, or long-term medical care." As target dates near, people care more about return of capital than return on capital, regardless of what computer models say." To solve the problem, Zacks applies proprietary risk utility methodologies to traditional computer simulations for allocations that "work" for the majority of investors at each segment of the reallocation glidepath.
Conflict Free Investing: The Zacks indices are unique because they will be the basis of the industry's first securities-based lifecycle program. With no conflicts of interest or fee layering from sub-sector ETFs or proprietary mutual funds, this securities-based lifecycle program is well suited for 401(k) investing. A securities-based lifecycle program reduces plan sponsor exposure to lawsuits because it complies with the new Pension Protection Act regulations at the highest levels.
Potential index constituents include U.S. equities, international equities, and domestic bonds. The index constituent selection methodology utilizes proprietary selection rules to identify stocks and bonds with risk/return profiles consistent with general market benchmarks. The indexes are adjusted quarterly, or as required, to assure timely constituent selections. The Zacks Lifecycle Indices are published by the New York Stock Exchange, under the ticker symbols TDAXTN, TDAXTW, TDAXTH, TDAXFO, TDAXIT.
About Zacks
The Zacks Lifecycle Indices(TM) complement the firm's alpha-generating quantitative indices used in yield, growth & income, sector rotation, international, style box and market-cap specific products.
Founded in 1978, Zacks Investment Research has more than 25 years of experience in providing institutional and individual investors with the analytical tools and financial information necessary to the success of their investment process. Zacks created the first earnings estimate revision model and originated the concept of the Earnings Surprise. Today, Zacks' models process over 25,000 earnings estimate revisions and changes in broker recommendations weekly from over 200 brokerage firms, produced by more than 3,500 analysts. As one of the top market data and proprietary investment model providers, Zacks clients include some of the most widely known institutions in the financial industry.
Business Wire - Press Release
Zacks Launches Lifecycle Indices
10.01.07, 12:25 PM ET
Zacks Investment Research, Inc. is pleased to announce the launch of industry's first lifecycle index series. In a lifecycle program, investors simply select the fund whose target date best matches the year they plan to access their money and the rest is on autopilot. At inception, lifecycle balances have a relatively aggressive equities tilt. Then, as the pre-set target date approaches, assets gradually move along a risk "glidepath" towards more conservative fixed income positions. At all points along the glidepath, assets are prudently diversified by sector, capitalization, duration, and country.
The following are the Zacks target date indices: -0- *T Zacks 2040 Lifecycle Index Zacks 2030 Lifecycle Index Zacks 2020 Lifecycle Index Zacks 2010 Lifecycle Index Zacks At Target Lifecycle Index *T
Lifecycle funds have grown in popularity among retirement plan participants, goal-based planners, and more recently, federal regulators, because they remove investor emotions from key reallocation and asset selection decisions. While Zacks agrees that such control of human behavior improves investment outcomes, the firm notes that: -0- *T 1) Most managers assume their lifecycle funds will be used only for retirement planning. Since these glidepaths target actuarial life expectancies, they carry very high levels of risk as stated maturity dates approach. 2) In 401(k) and other qualified retirement plan markets, there is growing demand for lifecycle vehicles that are free of conflicts of interest. *T
Retirement and More: According to Michael Case Smith of the Zacks Index and Allocation Group, "The industry average allocation to equities in 2010 funds is 52%. That may be the right answer for a Monte Carlo simulation but the wrong one for investors with three years to go before they fund a retirement annuity, a vacation home, education, a wedding, or long-term medical care." As target dates near, people care more about return of capital than return on capital, regardless of what computer models say." To solve the problem, Zacks applies proprietary risk utility methodologies to traditional computer simulations for allocations that "work" for the majority of investors at each segment of the reallocation glidepath.
Conflict Free Investing: The Zacks indices are unique because they will be the basis of the industry's first securities-based lifecycle program. With no conflicts of interest or fee layering from sub-sector ETFs or proprietary mutual funds, this securities-based lifecycle program is well suited for 401(k) investing. A securities-based lifecycle program reduces plan sponsor exposure to lawsuits because it complies with the new Pension Protection Act regulations at the highest levels.
Potential index constituents include U.S. equities, international equities, and domestic bonds. The index constituent selection methodology utilizes proprietary selection rules to identify stocks and bonds with risk/return profiles consistent with general market benchmarks. The indexes are adjusted quarterly, or as required, to assure timely constituent selections. The Zacks Lifecycle Indices are published by the New York Stock Exchange, under the ticker symbols TDAXTN, TDAXTW, TDAXTH, TDAXFO, TDAXIT.
About Zacks
The Zacks Lifecycle Indices(TM) complement the firm's alpha-generating quantitative indices used in yield, growth & income, sector rotation, international, style box and market-cap specific products.
Founded in 1978, Zacks Investment Research has more than 25 years of experience in providing institutional and individual investors with the analytical tools and financial information necessary to the success of their investment process. Zacks created the first earnings estimate revision model and originated the concept of the Earnings Surprise. Today, Zacks' models process over 25,000 earnings estimate revisions and changes in broker recommendations weekly from over 200 brokerage firms, produced by more than 3,500 analysts. As one of the top market data and proprietary investment model providers, Zacks clients include some of the most widely known institutions in the financial industry.
miércoles, 7 de noviembre de 2007
$12,106.00 prima promedio de un plan médico familiar
Traducir al español
Health Insurance Costs Rise Again
By Michelle Andrews
Posted September 14, 2007
Health insurance premiums rose more slowly in 2007 than at any other time since 1999, but the 6.1 percent increase still outstripped the rises in workers' wages (3.7 percent) and inflation (2.6 percent), according to a study released this week. There's no relief in sight for workers, who paid almost $3,300 on average for family coverage this year. Forty-five percent of employers polled say they're likely to increase employee premiums next year, with a significant number reporting they plan to increase employee deductibles, copayments, and drug contributions as well.
The annual survey of employer-sponsored plans, conducted by the Kaiser Family Foundation and the Health Research and Educational Trust, has charted the upward trend in healthcare costs for years. "There's no tipping point at which health insurance becomes scientifically unaffordable," Kaiser President Drew Altman said at a press conference announcing the survey results. "But we have reached a point where it's become more unaffordable for more employers and workers."
This year's survey found that the average family policy cost $12,106, a 78 percent increase since 2001. (The typical single policy cost $4,479 in 2007.) In the past six years, the amount that families pay out of pocket in premiums has increased by about $1,500. One of the consequences of higher health insurance costs, Altman noted, has been the rise in the number of uninsured, which reached 47 million in 2006, a 5 percent increase over the previous year.
Although premium costs are widely used to gauge health plan affordability, other expenses can also take big bites out of workers' wallets. In 2007, the average family-plan deductible ranged from $759 in health maintenance organization plans to $3,596 in high-deductible health plans with a savings account option. Copayments for office visits with doctors in the health plan's network ranged from $18 to $30 on average, depending on the type of plan and doctor.
These other costs are likely to rise next year, too, according to the survey. Forty-four percent of employers said they're likely to increase how much employees pay for prescription drugs. An additional 37 percent said they planned to increase deductibles, and 42 percent said they plan to increase copayments for office visits. The good news, such as it is: Only 3 percent of companies said they were very or somewhat likely to drop coverage altogether.
About 158 million people receive health coverage through their employer. The 2007 Kaiser/HRET study surveyed more than 3,000 randomly selected companies with more than three workers.
The Bush administration has touted health savings accounts, which it says could help bring healthcare costs under control. But employers don't seem to have bought that argument. This year, just 10 percent of companies offered high-deductible health plans with a savings option, which covered about 5 percent of workers. Twenty-four percent of companies said they're at least somewhat likely to offer this type of plan next year. "The [moderate rise] in premiums hasn't pushed employers to make changes as quickly as they might have otherwise," said study coauthor Gary Claxton, a vice president at Kaiser. "But insurers are still trying to sell these. It's really their only new thing. Over the next few years we'll see if it picks up."
Health Insurance Costs Rise Again
By Michelle Andrews
Posted September 14, 2007
Health insurance premiums rose more slowly in 2007 than at any other time since 1999, but the 6.1 percent increase still outstripped the rises in workers' wages (3.7 percent) and inflation (2.6 percent), according to a study released this week. There's no relief in sight for workers, who paid almost $3,300 on average for family coverage this year. Forty-five percent of employers polled say they're likely to increase employee premiums next year, with a significant number reporting they plan to increase employee deductibles, copayments, and drug contributions as well.
The annual survey of employer-sponsored plans, conducted by the Kaiser Family Foundation and the Health Research and Educational Trust, has charted the upward trend in healthcare costs for years. "There's no tipping point at which health insurance becomes scientifically unaffordable," Kaiser President Drew Altman said at a press conference announcing the survey results. "But we have reached a point where it's become more unaffordable for more employers and workers."
This year's survey found that the average family policy cost $12,106, a 78 percent increase since 2001. (The typical single policy cost $4,479 in 2007.) In the past six years, the amount that families pay out of pocket in premiums has increased by about $1,500. One of the consequences of higher health insurance costs, Altman noted, has been the rise in the number of uninsured, which reached 47 million in 2006, a 5 percent increase over the previous year.
Although premium costs are widely used to gauge health plan affordability, other expenses can also take big bites out of workers' wallets. In 2007, the average family-plan deductible ranged from $759 in health maintenance organization plans to $3,596 in high-deductible health plans with a savings account option. Copayments for office visits with doctors in the health plan's network ranged from $18 to $30 on average, depending on the type of plan and doctor.
These other costs are likely to rise next year, too, according to the survey. Forty-four percent of employers said they're likely to increase how much employees pay for prescription drugs. An additional 37 percent said they planned to increase deductibles, and 42 percent said they plan to increase copayments for office visits. The good news, such as it is: Only 3 percent of companies said they were very or somewhat likely to drop coverage altogether.
About 158 million people receive health coverage through their employer. The 2007 Kaiser/HRET study surveyed more than 3,000 randomly selected companies with more than three workers.
The Bush administration has touted health savings accounts, which it says could help bring healthcare costs under control. But employers don't seem to have bought that argument. This year, just 10 percent of companies offered high-deductible health plans with a savings option, which covered about 5 percent of workers. Twenty-four percent of companies said they're at least somewhat likely to offer this type of plan next year. "The [moderate rise] in premiums hasn't pushed employers to make changes as quickly as they might have otherwise," said study coauthor Gary Claxton, a vice president at Kaiser. "But insurers are still trying to sell these. It's really their only new thing. Over the next few years we'll see if it picks up."
miércoles, 31 de octubre de 2007
10 tips para un discurso exitoso
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Free Articles
3/22/2006
Ten MUSTS For a Successful Speech
Stephan Schiffman
New York, NY (March 14th): Fear of public speaking ranks high on nearly every study of common anxieties -- higher even than the fear of death!
As someone who has delivered hundreds of speeches before groups of all kinds, and trained many people to do the same, I have some insights on this. What people really fear is not so much public speaking itself as the possibility of being unprepared for a speech.
If you prepare well, you will eliminate most of the fear. Here are the ten “MUSTS” for a successful speech. Cover all ten, and you will be well prepared for the big event.
1. You MUST use humor to establish rapport with the audience very early on in the speech -- and preferably self-deprecating humor. (Abraham Lincoln was once accused of being two-faced. Lincoln replied, “If I had two faces, do you think this is the one I’d be wearing?” )
2. You MUST know your audience and match your content to their world.
3. You MUST know your material thoroughly. In other words, you must practice delivering the major points, in the order you want to cover them, preferably in front of people such as family or friends. (Doing this ahead of time will also help you identify what should be eliminated from the speech.) Consider making an audio or video of your speech and reviewing it closely before you deliver it to a “live” group.
4. You MUST know your own strengths and weaknesses as a speaker. Make sure you are emphasizing your strengths during the speech.
5. You MUST wear appropriate attire for the occasion.
6. You MUST project comfort and confidence to the audience. Erect posture and the ability to take deep breaths is a part of this. Do not confuse “confidence” with “arrogance”—being able to admit that you do not know something, or that you made an error about something, will usually win you attention and interest.
7. You MUST use appropriate body language – hand gestures, walking, spreading your arms – to retain visual interest from the audience.
8. You MUST speak comprehensibly. If this is a problem according to other people who listen to you practice delivering your speech, make a conscious choice to slow down and enunciate. Find ways to remind yourself of this during the speech.
9. You MUST speak loudly enough to be heard by everyone. (If you don’t have a microphone, pitch your voice so that the person in the back of the room will hear what you’re saying.)
10. You MUST speak with enthusiasm and conviction. If the audience does not believe that you believe what you’re saying, they will tune out.
STEPHAN SCHIFFMAN is the president of D.E.I., one of the largest sales training companies in the U.S. He is the author of a number of best-selling books including Cold Calling Techniques (That Really Work!), and The 25 Sales Habits of Highly Effective Salespeople, and Stephan Schiffman’s Telesales. Schiffman’s writings have appeared in many publications including The Wall Street Journal, The New York Times and INC. magazine. He has appeared as a guest on CNBC’s “Minding Your Business,” “How to Succeed in Business,” and “Smart Money,” among many other programs. Mr. Schiffman holds degrees from Ithaca College and Cornell, and has taught at New York University, Marymount Collge, and Adelphi University. He is a past president of the New York City Chamber of Commerce.
Free Articles
3/22/2006
Ten MUSTS For a Successful Speech
Stephan Schiffman
New York, NY (March 14th): Fear of public speaking ranks high on nearly every study of common anxieties -- higher even than the fear of death!
As someone who has delivered hundreds of speeches before groups of all kinds, and trained many people to do the same, I have some insights on this. What people really fear is not so much public speaking itself as the possibility of being unprepared for a speech.
If you prepare well, you will eliminate most of the fear. Here are the ten “MUSTS” for a successful speech. Cover all ten, and you will be well prepared for the big event.
1. You MUST use humor to establish rapport with the audience very early on in the speech -- and preferably self-deprecating humor. (Abraham Lincoln was once accused of being two-faced. Lincoln replied, “If I had two faces, do you think this is the one I’d be wearing?” )
2. You MUST know your audience and match your content to their world.
3. You MUST know your material thoroughly. In other words, you must practice delivering the major points, in the order you want to cover them, preferably in front of people such as family or friends. (Doing this ahead of time will also help you identify what should be eliminated from the speech.) Consider making an audio or video of your speech and reviewing it closely before you deliver it to a “live” group.
4. You MUST know your own strengths and weaknesses as a speaker. Make sure you are emphasizing your strengths during the speech.
5. You MUST wear appropriate attire for the occasion.
6. You MUST project comfort and confidence to the audience. Erect posture and the ability to take deep breaths is a part of this. Do not confuse “confidence” with “arrogance”—being able to admit that you do not know something, or that you made an error about something, will usually win you attention and interest.
7. You MUST use appropriate body language – hand gestures, walking, spreading your arms – to retain visual interest from the audience.
8. You MUST speak comprehensibly. If this is a problem according to other people who listen to you practice delivering your speech, make a conscious choice to slow down and enunciate. Find ways to remind yourself of this during the speech.
9. You MUST speak loudly enough to be heard by everyone. (If you don’t have a microphone, pitch your voice so that the person in the back of the room will hear what you’re saying.)
10. You MUST speak with enthusiasm and conviction. If the audience does not believe that you believe what you’re saying, they will tune out.
STEPHAN SCHIFFMAN is the president of D.E.I., one of the largest sales training companies in the U.S. He is the author of a number of best-selling books including Cold Calling Techniques (That Really Work!), and The 25 Sales Habits of Highly Effective Salespeople, and Stephan Schiffman’s Telesales. Schiffman’s writings have appeared in many publications including The Wall Street Journal, The New York Times and INC. magazine. He has appeared as a guest on CNBC’s “Minding Your Business,” “How to Succeed in Business,” and “Smart Money,” among many other programs. Mr. Schiffman holds degrees from Ithaca College and Cornell, and has taught at New York University, Marymount Collge, and Adelphi University. He is a past president of the New York City Chamber of Commerce.
¿Busca una renta mensual?
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Fidelity recently introduced a new kind of mutual fund called an income replacement fund. This kind of fund is managed with the goal in mind of maximizing income by balancing growth investing, income investing, and a return of principal.
They give an example in this video of a woman who wants to invest $100,000 for 20 years. Her average monthly income from her $100,000 investment is $540. Here’s a look at her projected monthly income based on the year:
It’s important to note that these monthly income payments ARE NOT guaranteed. That said, the funds are designed based on the time horizon. In other words, as time progresses, the funds become more conservative. These funds carry an expense ratio around .61%, which isn’t too bad especially when you consider the expenses on most annuities that are designed to do essentially the same thing but with some guarantees.
I think this is an interesting concept that is only going to get more popular. In fact, I read last week in the Wall Street Journal that Vanguard is planning their own versions of income replacement funds called “Managed Payout Funds.” From the article:
Vanguard filed with the Securities and Exchange Commission last week to launch Managed Payout Real Growth, Managed Payout Moderate Growth and Managed Payout Capital Preservation.
Vanguard’s expense ratio on these funds is expected to be around .34% or roughly half of what Fidelity charges.
This is only the beginning…
Fidelity recently introduced a new kind of mutual fund called an income replacement fund. This kind of fund is managed with the goal in mind of maximizing income by balancing growth investing, income investing, and a return of principal.
They give an example in this video of a woman who wants to invest $100,000 for 20 years. Her average monthly income from her $100,000 investment is $540. Here’s a look at her projected monthly income based on the year:
It’s important to note that these monthly income payments ARE NOT guaranteed. That said, the funds are designed based on the time horizon. In other words, as time progresses, the funds become more conservative. These funds carry an expense ratio around .61%, which isn’t too bad especially when you consider the expenses on most annuities that are designed to do essentially the same thing but with some guarantees.
I think this is an interesting concept that is only going to get more popular. In fact, I read last week in the Wall Street Journal that Vanguard is planning their own versions of income replacement funds called “Managed Payout Funds.” From the article:
Vanguard filed with the Securities and Exchange Commission last week to launch Managed Payout Real Growth, Managed Payout Moderate Growth and Managed Payout Capital Preservation.
Vanguard’s expense ratio on these funds is expected to be around .34% or roughly half of what Fidelity charges.
This is only the beginning…
martes, 30 de octubre de 2007
Plata
Staying High and Dry in a Recession
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by Robert Kiyosaki
Posted on Monday, October 29, 2007, 12:00AM
There's an old saying that goes, "It's a recession if your neighbor loses his job. It's a depression if you lose your job."
Watching the financial news networks and reading the financial publications these days, you'll see many people asking if the U.S. economy is heading into a recession. From my vantage point, the answer is yes. I believe that for many people in certain industries, like real estate, the worst is yet to come.
Economic Ripple Effects
Before getting into why I think there will be a recession, it's important to know the specific definition of the term. Very simply, a recession is a decline in a country's gross domestic product (GDP) for at least two quarters. That means that by Christmas we'll know if we're in a recession or not.
In some ways, the coming recession is a product of the physical phenomenon known as precession. Precession is the effect of bodies in motion upon other bodies in motion -- or, more simply, a ripple effect, like when you throw a stone into a still pond and the waves emanating from it overlap.
While there are many such processional "waves" in the coming recession, one is the lack of integrity in the U.S. monetary system. The United States has defaulted on its financial promises many times in recent history. In 1934, we defaulted on domestic gold redemption. That year, it became illegal for U.S. citizens to own gold. Instead, the government required Americans to turn in their gold, and they were paid $20 in paper money for every ounce of gold they surrendered.
Once the gold was collected, the government raised the price of gold to $35 an ounce. Talk about a lack of integrity. And in 1968, the U.S. defaulted on silver redemption, taking U.S. dollars backed by silver out of circulation. Finally, in 1971, the U.S. defaulted on international gold redemption.
International Impact
Another reason for the coming recession is the subprime mess. And while issues related to the subprime fiasco may seem domestic, they actually have severe international consequences. The subprime mess seems to be a problem associated with lower-income people who can't afford their homes, yet it's really the tip of a very large international iceberg, and it'll affect all of us. Here's why.
In the Sept. 12, 2007, issue of Business Week, Kerry Capell asked the question, "Could any country be more exposed to the credit crunch than the U.S.?" The answer: "You bet, and that place is Britain."
Unlike many of its European neighbors, Britain shares many of America's financial traits. In the last few years, access to cheap credit in Britain has fueled a decade of economic growth, with home prices tripling in 10 years -- an even faster rise than in the United States. With cheap borrowed money, the English consumer has caused the British economy to boom; consumers are responsible for two-thirds of the British economy.
Today, Britain is more dependent upon financial services than we are. So what will happen to the world if both England and the United States go into a recession? The precessional effect is bound to be dire -- especially for working people.
Too Much Money
As strange as it may seem to the average person, the problem is not a shortage of money -- it's too much money. The world is choking on too many U.S. dollars.
Normally, when a currency gets into trouble as the dollar is now, all the country has to do is raise the interest rates on their bonds and things are fine again. But because of the subprime meltdown, the Federal Reserve can't simply raise or lower interest rates.
In simplified terms, the Fed must keep rates low in order to save the domestic economy. This causes the international economy to dump the dollar by not buying our bonds, which is one reason why the price of gold keeps going up -- it's the true international money. And the rise in its price (and in the price of oil) signals the loss of the purchasing power of the dollar; the world simply doesn't want any more dollars. This is a ripple effect from 1971, when the dollar came off the gold standard.
Less for More
The tragedy of this excess of money is that most of the world's workers have to work harder to earn less. This is because the currencies of the world are becoming less and less valuable. Even if workers get pay raises, the boost won't be able to keep pace with declines in the purchasing power of money, increases in expenses such as oil, decreases in the value of homes, declines in the value of stocks, and increases in taxes.
Just look at what's happened in the last decade. Ten years ago, gold was about $275 an ounce. Today, it's over $700. That means that, compared to gold, your income would've had to go up by 250 percent just to keep up with the loss in purchasing power of the dollar. Or, compared to oil -- which was about $10 a barrel 10 years ago and today is over $80 a barrel -- your income would've had to go up by 800 percent.
Sure, there are many people whose incomes have gone up way beyond 800 percent in the last 10 years. The problem is that most people's incomes haven't kept pace, and they're technically in a state of personal recession with no way out.
Throw Yourself a Lifeline
As the global economy continues to gyrate, you'll hear more and more people calling for the Federal Reserve to either lower or raise interest rates. The problem is that the Fed has less and less power to do much.
If it tries to save the domestic economy, the international economy will pound us. If the Fed tries to save the dollar internationally by raising interest rates, it'll kill the domestic economy.
Instead of looking to the Fed to save you, then, I recommend you save yourself by investing in real international money. One way to do so is by purchasing silver. Gold is expensive, but silver is still a bargain even for the little guy. When the recession comes, the ripple effect on your financial future will be immeasurable.
Traducir al español
by Robert Kiyosaki
Posted on Monday, October 29, 2007, 12:00AM
There's an old saying that goes, "It's a recession if your neighbor loses his job. It's a depression if you lose your job."
Watching the financial news networks and reading the financial publications these days, you'll see many people asking if the U.S. economy is heading into a recession. From my vantage point, the answer is yes. I believe that for many people in certain industries, like real estate, the worst is yet to come.
Economic Ripple Effects
Before getting into why I think there will be a recession, it's important to know the specific definition of the term. Very simply, a recession is a decline in a country's gross domestic product (GDP) for at least two quarters. That means that by Christmas we'll know if we're in a recession or not.
In some ways, the coming recession is a product of the physical phenomenon known as precession. Precession is the effect of bodies in motion upon other bodies in motion -- or, more simply, a ripple effect, like when you throw a stone into a still pond and the waves emanating from it overlap.
While there are many such processional "waves" in the coming recession, one is the lack of integrity in the U.S. monetary system. The United States has defaulted on its financial promises many times in recent history. In 1934, we defaulted on domestic gold redemption. That year, it became illegal for U.S. citizens to own gold. Instead, the government required Americans to turn in their gold, and they were paid $20 in paper money for every ounce of gold they surrendered.
Once the gold was collected, the government raised the price of gold to $35 an ounce. Talk about a lack of integrity. And in 1968, the U.S. defaulted on silver redemption, taking U.S. dollars backed by silver out of circulation. Finally, in 1971, the U.S. defaulted on international gold redemption.
International Impact
Another reason for the coming recession is the subprime mess. And while issues related to the subprime fiasco may seem domestic, they actually have severe international consequences. The subprime mess seems to be a problem associated with lower-income people who can't afford their homes, yet it's really the tip of a very large international iceberg, and it'll affect all of us. Here's why.
In the Sept. 12, 2007, issue of Business Week, Kerry Capell asked the question, "Could any country be more exposed to the credit crunch than the U.S.?" The answer: "You bet, and that place is Britain."
Unlike many of its European neighbors, Britain shares many of America's financial traits. In the last few years, access to cheap credit in Britain has fueled a decade of economic growth, with home prices tripling in 10 years -- an even faster rise than in the United States. With cheap borrowed money, the English consumer has caused the British economy to boom; consumers are responsible for two-thirds of the British economy.
Today, Britain is more dependent upon financial services than we are. So what will happen to the world if both England and the United States go into a recession? The precessional effect is bound to be dire -- especially for working people.
Too Much Money
As strange as it may seem to the average person, the problem is not a shortage of money -- it's too much money. The world is choking on too many U.S. dollars.
Normally, when a currency gets into trouble as the dollar is now, all the country has to do is raise the interest rates on their bonds and things are fine again. But because of the subprime meltdown, the Federal Reserve can't simply raise or lower interest rates.
In simplified terms, the Fed must keep rates low in order to save the domestic economy. This causes the international economy to dump the dollar by not buying our bonds, which is one reason why the price of gold keeps going up -- it's the true international money. And the rise in its price (and in the price of oil) signals the loss of the purchasing power of the dollar; the world simply doesn't want any more dollars. This is a ripple effect from 1971, when the dollar came off the gold standard.
Less for More
The tragedy of this excess of money is that most of the world's workers have to work harder to earn less. This is because the currencies of the world are becoming less and less valuable. Even if workers get pay raises, the boost won't be able to keep pace with declines in the purchasing power of money, increases in expenses such as oil, decreases in the value of homes, declines in the value of stocks, and increases in taxes.
Just look at what's happened in the last decade. Ten years ago, gold was about $275 an ounce. Today, it's over $700. That means that, compared to gold, your income would've had to go up by 250 percent just to keep up with the loss in purchasing power of the dollar. Or, compared to oil -- which was about $10 a barrel 10 years ago and today is over $80 a barrel -- your income would've had to go up by 800 percent.
Sure, there are many people whose incomes have gone up way beyond 800 percent in the last 10 years. The problem is that most people's incomes haven't kept pace, and they're technically in a state of personal recession with no way out.
Throw Yourself a Lifeline
As the global economy continues to gyrate, you'll hear more and more people calling for the Federal Reserve to either lower or raise interest rates. The problem is that the Fed has less and less power to do much.
If it tries to save the domestic economy, the international economy will pound us. If the Fed tries to save the dollar internationally by raising interest rates, it'll kill the domestic economy.
Instead of looking to the Fed to save you, then, I recommend you save yourself by investing in real international money. One way to do so is by purchasing silver. Gold is expensive, but silver is still a bargain even for the little guy. When the recession comes, the ripple effect on your financial future will be immeasurable.
jueves, 25 de octubre de 2007
Dollar-cost averaging
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In turbulent times, resist the urge to mess with your retirement plan and you'll come out ahead.
With dreary news coming out of the banking and real estate scenes almost daily, and the dreaded "r" word (as in recession) getting tossed around, roller-coaster madness is the new normal in the stock market.
It's a scary situation. But it doesn't have to wreck your retirement.
The single most important thing you can do in a turbulent market is stick to your retirement game plan - that means contributing regularly and definitely not panicking and selling.
In fact, if you had stayed the course when the stock market was tanking in July and August, you actually would have made a far better return on your money than if the stock market had stayed flat - or even increased modestly.
The reason comes down to dollar-cost averaging. Let's say, for example, that you contribute $500 from your paycheck every two weeks to your retirement plan. Of that amount, let's further assume that you are allocating 80%, or $400, to a low-cost stock fund, such as Vanguard's S&P 500 index fund.
Looking back at the third quarter, you would have made seven contributions (assuming you get paid every other Thursday). Each $400 allocation to the index fund would have purchased a different number of shares. (see table)
On July 19, for instance, when the fund was trading at $143 per share, you would have bought 2.8 shares. On Aug. 16, when the price had tanked to $130, you would have picked up 3.1 shares. All told, by the end of the quarter you would have purchased 20.46 shares for a total cost of $2,800.
How did the market overall do during that time? By the end of September, it had just barely recovered from the 10% plunge it took in July and August, when the credit crisis was in full swing. As a result, the Vanguard S&P 500 index fund managed to eke out a gain of just 0.8% for the third quarter.
But you would have done much, much better. On Sept. 27, the 20.46 shares you purchased were worth $141 each, for a total of $2,885. That translates into a 3% gain on your retirement plan contributions for the third quarter - a return that most professional money managers would have killed for.
And you would have gotten it because you had the courage to keep buying as the market fell.
By the way, you would have gotten the same type of great returns if you had been buying stocks right after the Crash of 1987 - or after any other big drop. As long as your investing timeframe is long enough to allow the market to climb back from a potentially severe plunge - about 7-10 years - then you will usually be far better off contributing to your retirement plan.
That's not to suggest that dollar-cost averaging alone is a panacea for anything that might ail your retirement plan. If we get another prolonged bear market and you don't have a lot of time on your side (if you're planning to retire in 5 years' time, for instance), your stock investments are going to take a hit no matter what.
So to be truly shock-resistant, your retirement plan must hold a diversified mix of stocks and bonds. And you have to rebalance every year. I'll get into those issues in future columns.
In the meantime, just remember that if you have a decent time horizon and you're diversified, your best bet in a volatile market is to simply let your retirement plan do its thing. Resist the urge to mess with it. You won't regret it.
Questions or comments about retirement? Send e-mails to jrevell@moneymail.com.
Copyrighted, CNNMoney. All Rights Reserved.
martes, 23 de octubre de 2007
Primas de Seguros de Gastos Médicos
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2007-09-24
Companies Focusing on Health Plan Designs and Keeping Employees Healthy to Help Mitigate Impact of Rate Increases
LINCOLNSHIRE, Ill. – U.S. companies enjoyed a nine-year low in health care cost rate increases this year, but employers and employees should not expect to see that trend continue in 2008, according to Hewitt Associates, a global human resources services company. In 2007, average health care rate increases were 5.3 percent, down from 7.9 percent in 2006. However, Hewitt is projecting an 8.7 percent average increase for employers in 2008.
Outlook for 2008
According to Hewitt, the average health cost per person for major companies will increase from $7,982 in 2007 to $8,676 in 2008. The amount employees are being asked to contribute in 2008 will be $1,859, representing approximately 21 percent of the overall health care premium and up from $1,690 in 2007. Average employee out-of-pocket costs, such as copayments, coinsurance and deductibles, are also expected to increase from $1,576 in 2007 to $1,738 in 2008. Overall, employees' total health care costs — including employee contribution and out-of-pocket costs — are projected to be $3,597 in 2008, up 10.1 percent from $3,266 in 2007.
"It's encouraging to see rate increases soften because it means that companies are making a concerted effort to manage health care costs," said Jim Winkler, practice leader of Hewitt's Health Management Consulting business. "However, one of the primary ways employers have been accomplishing this is by passing a significant percentage of costs to employees, and we're seeing evidence that this strategy is prompting an increasing number of employees to forego necessary preventative care and/or not comply with prescribed medications. While some cost shifting is appropriate, it's critical that companies design their health care programs in a way that encourages employees to use them — and use them wisely. Otherwise, they are essentially trading preventative care now for 'rescue care' later, which will lead to unhealthy employee populations, a decrease in employee productivity and ultimately — higher health care costs."
2007 Cost Increases by Major Metropolitan Area
While Hewitt's data shows a decline in overall cost increases in 2007, a few major U.S. markets experienced rate increases two-to-three times higher than the average: Nashville (14.1 percent), San Diego (11.5 percent) and San Francisco (11.5 percent).
"It's hard to pinpoint the exact reasons why health care cost increases vary in each region, but differences in health plan competition, demographics and market dynamics of health care providers are all factors," said Bob Tate, chief actuary of Hewitt's Health Management Consulting business. "We've noticed that several of the cities with the highest rate increases this year have a large number of employees enrolled in HMO plans, and these plans have experienced higher cost increases in recent years."
2007 Cost Increases by Plan Type
On average, Hewitt saw average cost increases in 2007 of 9.1 percent for traditional indemnity plans, 8.7 percent for health maintenance organizations (HMOs), 3.9 percent for point-of-service (POS) plans and 2.4 percent for preferred provider organizations (PPOs).
For 2008, Hewitt forecasts that companies will receive cost increases of 9.0 percent for traditional indemnity plans, 8.5 percent for POS plans, 9.0 percent for HMOs, and 8.5 percent for PPOs. That means from 2007 to 2008, the average cost per person for major companies will increase from $7,957 to $8,673 for HMOs; $7,790 to $8,452 for PPOs; $8,573 to $9,302 for POS plans; and $9,277 to $10,112 for indemnity plans.
"We believe the 2007 rates of increase for POS and PPO plans represent somewhat of a 'market correction' from prior-year, conservative pricing assumptions, especially for self-insured plans," said Tate. "Actual experience has been trending favorably relative to employer forecasts, resulting in less of a need for an increase for 2007."
Employer Response to Rate Increases
While rate increases remain moderate, employers continue to take proactive steps to mitigate costs and enable employees to make smarter and more effective health care decisions, including:
Adopting best practices and creating more stringent requirements around vendor selection. As employers adopt leading-edge strategies to impact the health of their workforce, they are increasingly contracting with an array of vendor partners, each focused on specific elements of the health care program. "Choosing best-in-class vendors can help make programs more cost-effective as long as the employer has built in an appropriate degree of cross-program accountability for the vendors," noted Winkler.
Pinpointing the drivers of costs. More companies are taking a closer look at the health risks and needs of their employee population and offering more focused programs and solutions targeted to employees who incur the majority of health care costs. According to recent Hewitt research, more than three-quarters (77 percent) of responding companies profiled the chronic health conditions prevalent in their workforce in 2007, compared with just 43 percent in 2006. In addition, between 65 percent and 79 percent of companies gave employees — or planned to give them in 2007 — access to targeted condition management or wellness programs through health plans or focused programs.
"By obtaining insight into the health risks and chronic conditions of at-risk populations in their workforce, employers can identify portions of the employee population that are currently — or likely to become — the most costly and make changes to their plan designs that will drive employees to make better, more consistent decisions about their health," said Winkler. "These types of programs not only influence healthy employee behaviors through integrated health management, but they provide companies with significant opportunities for short- and long-term cost savings."
Offering new health plans. Account-based plan designs are gaining traction by employers as a way to control costs. Hewitt's research found that more than 20 percent of companies offer, or plan to offer, a high-deductible health plan with a health savings account (HSA) by the end of this year and almost half are considering offering one at a future date. While just 3 percent of employees elected these plans last year, most companies anticipate that enrollment will grow to 20 percent in five years.
In addition, as fully insured HMO rates increase in excess of overall medical cost increases, an increasing number of companies are eliminating local HMO offerings and are now offering HMOs under a self-insured arrangement. This enables companies to offer more consistent plan designs and health care programs across their entire employee population, reducing administrative costs and simplifying communication messages to employees during annual enrollment.
Encouraging use of health care via "value-based" plan design changes. While still an emerging concept, more companies are beginning to incorporate value-based design changes into their health care programs. These types of plans remove the unnecessary barriers to care that employees face by providing them with incentives to use appropriate care/services to manage their health.
According to recent Hewitt research, almost one in five (19 percent) large companies has implemented a value-based plan design, and another 40 percent are interested in learning more about them. Hewitt recently introduced a Value-Based Design Model that enables companies, in real time, to analyze the compliance effects and financial impact of reducing employee cost sharing for specific health care services and increasing employee cost sharing for others. Using companies' existing prescription drug utilization and cost data, the tool also helps them understand how to make these clinically desirable plan design changes without increasing overall health care costs.
Changing prescription drug coverage. Companies are focusing more on generic and value drug programs, aggressive Pharmacy Benefit Manager (PBM) contracting and coinsurance in their drug plans to continue to influence utilization and costs. They are also taking more interest in measuring employee compliance with prescription drug usage so that they can make changes to their plans – including adding incentives – in order to encourage employees to take medications for which they were prescribed.
About Hewitt's Data
Hewitt's health care cost data is derived from the Hewitt Health Value Initiative, a cost and performance analysis database of more than 1,800 health plans throughout the U.S., including 400 major employers and more than 18 million health plan participants.
About Hewitt Associates
With more than 65 years of experience, Hewitt Associates (NYSE: HEW) is the world's foremost provider of human resources outsourcing and consulting services. The company consults with more than 2,300 organizations and administers human resources, health care, payroll and retirement programs on behalf of more than 340 companies to millions of employees and retirees worldwide. Located in 35 countries, Hewitt employs approximately 24,000 associates. For more information, please visit www.hewitt.com.
2007-09-24
Companies Focusing on Health Plan Designs and Keeping Employees Healthy to Help Mitigate Impact of Rate Increases
LINCOLNSHIRE, Ill. – U.S. companies enjoyed a nine-year low in health care cost rate increases this year, but employers and employees should not expect to see that trend continue in 2008, according to Hewitt Associates, a global human resources services company. In 2007, average health care rate increases were 5.3 percent, down from 7.9 percent in 2006. However, Hewitt is projecting an 8.7 percent average increase for employers in 2008.
Outlook for 2008
According to Hewitt, the average health cost per person for major companies will increase from $7,982 in 2007 to $8,676 in 2008. The amount employees are being asked to contribute in 2008 will be $1,859, representing approximately 21 percent of the overall health care premium and up from $1,690 in 2007. Average employee out-of-pocket costs, such as copayments, coinsurance and deductibles, are also expected to increase from $1,576 in 2007 to $1,738 in 2008. Overall, employees' total health care costs — including employee contribution and out-of-pocket costs — are projected to be $3,597 in 2008, up 10.1 percent from $3,266 in 2007.
"It's encouraging to see rate increases soften because it means that companies are making a concerted effort to manage health care costs," said Jim Winkler, practice leader of Hewitt's Health Management Consulting business. "However, one of the primary ways employers have been accomplishing this is by passing a significant percentage of costs to employees, and we're seeing evidence that this strategy is prompting an increasing number of employees to forego necessary preventative care and/or not comply with prescribed medications. While some cost shifting is appropriate, it's critical that companies design their health care programs in a way that encourages employees to use them — and use them wisely. Otherwise, they are essentially trading preventative care now for 'rescue care' later, which will lead to unhealthy employee populations, a decrease in employee productivity and ultimately — higher health care costs."
2007 Cost Increases by Major Metropolitan Area
While Hewitt's data shows a decline in overall cost increases in 2007, a few major U.S. markets experienced rate increases two-to-three times higher than the average: Nashville (14.1 percent), San Diego (11.5 percent) and San Francisco (11.5 percent).
"It's hard to pinpoint the exact reasons why health care cost increases vary in each region, but differences in health plan competition, demographics and market dynamics of health care providers are all factors," said Bob Tate, chief actuary of Hewitt's Health Management Consulting business. "We've noticed that several of the cities with the highest rate increases this year have a large number of employees enrolled in HMO plans, and these plans have experienced higher cost increases in recent years."
2007 Cost Increases by Plan Type
On average, Hewitt saw average cost increases in 2007 of 9.1 percent for traditional indemnity plans, 8.7 percent for health maintenance organizations (HMOs), 3.9 percent for point-of-service (POS) plans and 2.4 percent for preferred provider organizations (PPOs).
For 2008, Hewitt forecasts that companies will receive cost increases of 9.0 percent for traditional indemnity plans, 8.5 percent for POS plans, 9.0 percent for HMOs, and 8.5 percent for PPOs. That means from 2007 to 2008, the average cost per person for major companies will increase from $7,957 to $8,673 for HMOs; $7,790 to $8,452 for PPOs; $8,573 to $9,302 for POS plans; and $9,277 to $10,112 for indemnity plans.
"We believe the 2007 rates of increase for POS and PPO plans represent somewhat of a 'market correction' from prior-year, conservative pricing assumptions, especially for self-insured plans," said Tate. "Actual experience has been trending favorably relative to employer forecasts, resulting in less of a need for an increase for 2007."
Employer Response to Rate Increases
While rate increases remain moderate, employers continue to take proactive steps to mitigate costs and enable employees to make smarter and more effective health care decisions, including:
Adopting best practices and creating more stringent requirements around vendor selection. As employers adopt leading-edge strategies to impact the health of their workforce, they are increasingly contracting with an array of vendor partners, each focused on specific elements of the health care program. "Choosing best-in-class vendors can help make programs more cost-effective as long as the employer has built in an appropriate degree of cross-program accountability for the vendors," noted Winkler.
Pinpointing the drivers of costs. More companies are taking a closer look at the health risks and needs of their employee population and offering more focused programs and solutions targeted to employees who incur the majority of health care costs. According to recent Hewitt research, more than three-quarters (77 percent) of responding companies profiled the chronic health conditions prevalent in their workforce in 2007, compared with just 43 percent in 2006. In addition, between 65 percent and 79 percent of companies gave employees — or planned to give them in 2007 — access to targeted condition management or wellness programs through health plans or focused programs.
"By obtaining insight into the health risks and chronic conditions of at-risk populations in their workforce, employers can identify portions of the employee population that are currently — or likely to become — the most costly and make changes to their plan designs that will drive employees to make better, more consistent decisions about their health," said Winkler. "These types of programs not only influence healthy employee behaviors through integrated health management, but they provide companies with significant opportunities for short- and long-term cost savings."
Offering new health plans. Account-based plan designs are gaining traction by employers as a way to control costs. Hewitt's research found that more than 20 percent of companies offer, or plan to offer, a high-deductible health plan with a health savings account (HSA) by the end of this year and almost half are considering offering one at a future date. While just 3 percent of employees elected these plans last year, most companies anticipate that enrollment will grow to 20 percent in five years.
In addition, as fully insured HMO rates increase in excess of overall medical cost increases, an increasing number of companies are eliminating local HMO offerings and are now offering HMOs under a self-insured arrangement. This enables companies to offer more consistent plan designs and health care programs across their entire employee population, reducing administrative costs and simplifying communication messages to employees during annual enrollment.
Encouraging use of health care via "value-based" plan design changes. While still an emerging concept, more companies are beginning to incorporate value-based design changes into their health care programs. These types of plans remove the unnecessary barriers to care that employees face by providing them with incentives to use appropriate care/services to manage their health.
According to recent Hewitt research, almost one in five (19 percent) large companies has implemented a value-based plan design, and another 40 percent are interested in learning more about them. Hewitt recently introduced a Value-Based Design Model that enables companies, in real time, to analyze the compliance effects and financial impact of reducing employee cost sharing for specific health care services and increasing employee cost sharing for others. Using companies' existing prescription drug utilization and cost data, the tool also helps them understand how to make these clinically desirable plan design changes without increasing overall health care costs.
Changing prescription drug coverage. Companies are focusing more on generic and value drug programs, aggressive Pharmacy Benefit Manager (PBM) contracting and coinsurance in their drug plans to continue to influence utilization and costs. They are also taking more interest in measuring employee compliance with prescription drug usage so that they can make changes to their plans – including adding incentives – in order to encourage employees to take medications for which they were prescribed.
About Hewitt's Data
Hewitt's health care cost data is derived from the Hewitt Health Value Initiative, a cost and performance analysis database of more than 1,800 health plans throughout the U.S., including 400 major employers and more than 18 million health plan participants.
About Hewitt Associates
With more than 65 years of experience, Hewitt Associates (NYSE: HEW) is the world's foremost provider of human resources outsourcing and consulting services. The company consults with more than 2,300 organizations and administers human resources, health care, payroll and retirement programs on behalf of more than 340 companies to millions of employees and retirees worldwide. Located in 35 countries, Hewitt employs approximately 24,000 associates. For more information, please visit www.hewitt.com.
lunes, 22 de octubre de 2007
Retiro
New ETFs Target Retirement Market
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Sponsored by
by John Spence
Monday, October 22, 2007provided byMarketWatch
First 'lifecycle' ETFs aimed at long-term investors in retirement plans.
The first target-date exchange-traded funds might just lift the velvet rope that has kept ETFs from the biggest party of all: retirement plans.
ETFs listed on U.S. exchanges have grown to more than $500 billion in assets, but they've been unable to make significant inroads into the retirement-plan market, long seen as a cash cow for traditional mutual funds.
At the end of 2006, retirement plans
assets grew to about $2.7 trillion, according to Investment Company Institute, the main trade group for the mutual fund industry. About 50 million American workers participated in retirement plans
at year-end.
Mutual funds have enjoyed a tremendous boost from the rise of the retirement plans because, along with other products such as annuities, they account for most retirement investment options.
ETFs, meanwhile, face several barriers to entry. ETFs are structured as baskets of securities that trade like individual stocks, and broker commissions are required to buy and sell shares. Many wonder if the ability to trade frequently is relevant for long-term investors in retirement plans.
Some firms are working on platforms that would aggregate ETF trades to reduce trading fees. However, the administration and record-keeping of retirement plans is geared to mutual funds.
Tracking the life cycle
In a bid to crack the retirement plans nut, TD Ameritrade Holding Corp. (AMTD) subsidiary Amerivest Investment Management LLC and XShares Advisors have partnered to create a family of the first "lifecycle" ETFs.
Also known as target-date funds, these offerings have been extremely popular choices in retirement plans when offered as mutual funds. The investment products are designed to provide investors with diversified exposure to bonds, U.S. stocks, foreign companies and other asset classes.
Target-date funds are classified by the year in which the worker plans to retire or reach some other major financial goal. These products are designed to automatically scale back risk as the investor gets closer to the target date, typically by selling stocks and buying income-producing bonds.
So-called balanced funds, which include lifecyle offerings and invest in both stocks and bonds, are increasingly popular with younger workers in retirement plans.
"More recently hired participants hold balanced funds and are more likely to hold a high concentration of their accounts in balanced funds," wrote the ICI in its latest review of the retirement plans market.
"In addition, at year-end 2006, 24% of the account balances of recently hired participants in their twenties is invested in balanced funds, compared with 19% in 2005, and about 7% among that age group in 1998," the group said. "A similar pattern occurs across all age groups."
Apart from target-date funds, the ETF business has been trying to break into the retirement-plan market for years. There are already "funds of funds" and separate accounts that use ETFs for the underlying investments.
Additionally, BenefitStreet Inc. and money manager Barclays Global Investors earlier this year struck a deal to distribute ETFs to corporate sponsors.
BenefitStreet, which handles record-keeping and many client-support functions, last month launched a new retirement plans platform enabling investors to choose both ETFs and mutual funds in the same plan.
WisdomTree Investments Inc. (WSDT) recently unveiled a retirement plans platform designed for retirement plans, while Invest n Retire LLC in Portland, Ore., is a back-office specialists offering ETFs directly to employers.
Long-term horizon
TD Ameritrade and XShares have launched five new target-date ETFs: TDAX Independence 2010 ETF (TDD), TDAX Independence 2020 ETF (TDH), TDAX Independence 2030 ETF (TDN) and TDAX Independence 2040 ETF (TDV) and TDAX In-Target ETF (TDX).
The lifecycle funds get progressively more aggressive the further out the target date. For example, TDAX Independence 2010 ETF has an initial allocation to 8% in international stocks, 25% in U.S. stocks and 67% in fixed-income, although the allocations change over time.
However, the TDAX Independence 2040 ETF has an initial 24% stake in international, 73% in domestic stocks and 3% in bonds. The TDAX In-Target ETF is the most conservative, with 89% earmarked for fixed-income.
Bill Vulpis, president of Amerivest, said the new TDAX Independence ETFs are unique because they're not structured as funds of funds like most target-date offerings. Rather, they invest in proprietary indexes designed by Zacks Investment Research. He touted the low costs, transparency and flexibility of ETFs as a natural fit. The target-date ETFs have expense ratios of 0.65%, compared with about 1.3% for the average comparable mutual fund, Vulpis said.
Each of the new TDAX Independence ETFs tracks a Zacks index holding 500 securities -- 300 U.S. stocks, 100 international developed-markets equities and 100 debt securities.
"We wanted to provide a product that was simple yet diversified, with modest fees," Vulpis said. "We want to help investors with automatic asset allocation and rebalancing, and an ETF was the best way to go about that."
Michael Case Smith, managing director at Zacks IFE, added that the indexes result in lifecycle ETFs that are more aggressive in the "out" years when the target date is distant, by allocating relatively more to stocks than bonds, relative to comparable funds. Meanwhile, the Zacks indexes get relatively more conservative when they get close to the target date, Smith said.
The indexes are more aggressive in the "out" years because people have many more working years ahead, he explained. The benchmarks are more conservative closer to the target date because investors then are concerned with preserving capital, he added.
Pension reform alters landscape
Assets in target-date funds are expected to grow with the passage of the Pension Protection Act. Although the Labor Department is still finalizing its rules, many companies have been automatically enrolling employees in retirement plans. More importantly, target-date funds are seen as logical "default" options if the workers don't choose their investments.
Congress is also considering mandating greater fee disclosure in retirement plans, and the Labor Department is working on improving disclosure between plans and workers.
Tony Dudzinski, chief executive at XShares Advisors, said the indexed ETF structure offers advantages in that regard. He said managers may face conflicts of interest because most target-date funds own in-house funds that may be expensive or have poor performance. The fund of funds structure also layers on extra management fees on top of the expenses for the underlying funds, he said.
Also, ETFs can bring more transparency to the target-date fund market because the holdings are disclosed daily, Dudzinski said.
"Based on what the Labor Department is doing, we see big changes for the retirement plans and defined-contribution markets," the executive said, adding he expects more disclosure on fees that mutual funds pay to retirement plans.
XShares' move into diversified target-date funds is somewhat surprising because the firm is best known for its ETFs that break the health-care industry into narrow slices.
Dudzinski said the company is building multiple business lines and a wider spectrum of products. Last month, XShares listed a family of specialized real estate ETFs with Adelante Shares LLC.
John Spence is a reporter for MarketWatch in Boston.
Copyrighted, MarketWatch. All rights reserved. Republication or redistribution of MarketWatch content is expressly prohibited without the prior written consent of MarketWatch. MarketWatch shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
lunes, 8 de octubre de 2007
jueves, 27 de septiembre de 2007
Notas estructuradas
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Yale university endowment announced their returns for the fiscal year ended June 30. The fund returned 28% compared to 20.7% return for the S&P 500 Index.. This makes them the top performer in their class over the past two decades. Yale has demonstrated that asset class diversification works extremely well and has allocated 28% of the fund to Real Assets (Commodities, Timber, Property, etc.). Large US University endowment funds have been allocating more assets to alternative and commodity assets as a means of diversification and return enhancement. We were at a Wharton leadership conference last spring where the University of Pennsylvania head of endowments broke down how Penn was invested. 22% domestic stocks, 28% foreign stocks, and approximately 30% alternative investments..
This all fits in with our strategy of structured notes. In this environment structured notes that focus on commodities and currencies make the most sense. With commodities up over 9.5% this month alone, we think a structured note that strategically identifies the most active commodities coupled with a principal guarantee are the most attractive. According to the World Gold Council in India, the January to August imports of gold were up over 87% more than 1 year ago. International accounts are diversifying into commodities and non dollar assets at a record pace. Secondly, the US Dollar will continue to weaken. When we put our strategy piece out last week after the fed ease, we said the Dollar would decline as it has. We think the Dollar will continue to weaken versus the BRIIC countries (Brazil, Russia, India, Indonesia and China). Here again a strategy that couples these currencies with a principal guarantee make sense.
Accounts worldwide are using structured notes strategically to benefit from these trends. We can work with your clients to fit their specific outlooks… The trend is in place, it is now time to make money.
Yale university endowment announced their returns for the fiscal year ended June 30. The fund returned 28% compared to 20.7% return for the S&P 500 Index.. This makes them the top performer in their class over the past two decades. Yale has demonstrated that asset class diversification works extremely well and has allocated 28% of the fund to Real Assets (Commodities, Timber, Property, etc.). Large US University endowment funds have been allocating more assets to alternative and commodity assets as a means of diversification and return enhancement. We were at a Wharton leadership conference last spring where the University of Pennsylvania head of endowments broke down how Penn was invested. 22% domestic stocks, 28% foreign stocks, and approximately 30% alternative investments..
This all fits in with our strategy of structured notes. In this environment structured notes that focus on commodities and currencies make the most sense. With commodities up over 9.5% this month alone, we think a structured note that strategically identifies the most active commodities coupled with a principal guarantee are the most attractive. According to the World Gold Council in India, the January to August imports of gold were up over 87% more than 1 year ago. International accounts are diversifying into commodities and non dollar assets at a record pace. Secondly, the US Dollar will continue to weaken. When we put our strategy piece out last week after the fed ease, we said the Dollar would decline as it has. We think the Dollar will continue to weaken versus the BRIIC countries (Brazil, Russia, India, Indonesia and China). Here again a strategy that couples these currencies with a principal guarantee make sense.
Accounts worldwide are using structured notes strategically to benefit from these trends. We can work with your clients to fit their specific outlooks… The trend is in place, it is now time to make money.
miércoles, 26 de septiembre de 2007
viernes, 21 de septiembre de 2007
National Western
Le damos la bienvenida a National Western a nuestro portafolio de productos. En el siguiente link pueden descargar información de la Cia. y sus productos.
miércoles, 19 de septiembre de 2007
Recesión en USA para el 2008
De acuerdo a los especuladores, la probabilidad que se de una recesión en USA en el 2008, se a ido incrementado en el transcurso del año. Esta ultima reducción de tasas, que algunos piensan que fue muy agresiva, permite pensar que aún no esta al descubierto toda la versión de cual es la situación real de la economía.
viernes, 7 de septiembre de 2007
Aetna adquiere a Goodhealth
Interesante adquisición. Aetna es uno de los grupos aseguradores (de seguros médicos) más prestigiosos de USA. Esta adquisición la posiciona para poder explotar el mercado internacional. Buenas noticias para el mercado. Puede descargar aqui el comunicado.
miércoles, 5 de septiembre de 2007
Asset Allocation
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Summary: The Super Endowment funds of Harvard and Yale have consistently achieved high investment returns and low volatility due to their multi-asset approach to investing and exposure to alternative asset classes. While most investors cannot invest like the Super Endowment funds, this research note shows that by applying their multi-asset principles to an index based portfolio, returns have historically been superior to those of traditional portfolios and even the average top rated managed funds. Frontier takes inspiration from Super Endowment funds when determining our asset allocations. The current asset weighting of Frontier’s three funds (Conservative, Moderate, and Plus) is designed to contain slightly less risk than the Super Endowments allocations, as the Super Endowments have a longer investment horizon and lower liquidity requirements (See Appendix B for Frontier’s current asset weighting). Our small minimum investment requirements and high levels of liquidity means that it is possible for even smaller investors to adopt a multi-asset approach to portfolio management just like the Super Endowments. Should you wish to obtain any further information on index investing or to learn about the range of Frontier’s products please visit our website at www.FrontierCM.com or contact Michael Azlen at Azlen@FrontierCM.com
martes, 4 de septiembre de 2007
Risk Profile Questionnarie
Descargar Interesante herramienta para conocer el perfil de sus clientes en cuanto a su tolerancia al riesgo.
miércoles, 29 de agosto de 2007
martes, 28 de agosto de 2007
20 Timeless Money Rules
Link
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20 Timeless Money Rules
by Carla Fried
Thursday, August 23, 2007 provided byCNNMoney.com
Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived.
1. Be humble
When you do not know a thing, to allow that you do not know it--this is knowledge.
--Confucius
Investing is a big bet on an unknowable future. The mark of wisdom is accepting just how unknowable it is. Granted, that's not easy. Our brains are built to think the future will be like the near past. And we're too ready to act on the predictions of pundits, who are no more clued in than we are about what lies ahead.
Being humble in the face of uncertainty keeps you from costly mistakes. You won't jump on yesterday's bandwagon. And before you invest, you'll be more likely to ask a key question: "What if I'm wrong?"
2. Take calculated risks
He that is overcautious will accomplish little.
--Friedrich von Schiller
The returns you get are proportionate to the risk you take. This is a fundamental law of the markets. It's why five-year CDs typically pay more than six-month ones and why you're disappointed if your emerging markets fund does no better than its stodgy blue-chip stablemate. History unequivocally supports this "no free lunch" principle. Going back to 1926, stocks (high risk) have paid more than government bonds (medium risk), which in turn have beaten low-risk Treasury bills.
Among many, many other things, this law suggests:
* To earn returns high enough to build true wealth, you have to put some of your money in risky assets like stocks--the only investment to handily beat inflation over time.
* If a financial salesperson tries to tell you his product offers a high return with no risk, get that claim in writing. Then send it and his business card to the SEC.
3. Have an emergency fun.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
The first step in constructing any serious financial plan is to create an emergency cash fund--ideally, three to six months' living expenses--stashed in a low-cost ultrasafe bank account or money-market fund. Without this financial cushion, any unexpected expense can derail your long-term plans.
These days, happily, that emergency stash won't just sit idle. Top bank accounts like the one at UFB Direct (888-580-0049) and perennially competitive money funds like Vanguard Prime (800-851-4999) now pay more than 5%.
4. Mix it up
It is the part of a wise man to keep himself today for tomorrow and not to venture all his eggs in one basket.
--Miguel de Cervantes
Nothing can break the law of risk and reward, but a diversified portfolio can bend it. When you spread your money properly among different asset types, a rise in some will offset a fall in others, muting your overall risk without a commensurate drop in return. It's the closest thing to a free lunch there is in investing. To make the alchemy work, you must load up on assets whose up and down cycles don't run in sync: stocks (both U.S. and foreign, as well as large-company and small), bonds (of varying maturities), cash, real estate and commodities.
5. It's the portfolio, stupid
Asset allocation...is the overwhelmingly dominant contributor to total return.
--Gary Brinson, Brian Singer and Gilbert Beebower
Most investors concentrate on trying to choose the best stock and pick the perfect moment to buy or sell. It's a waste. What really matters to your long-term returns is asset allocation--that is, how you split up your portfolio.
Since researchers dropped this bombshell 20 years ago, experts have debated the size of the asset-allocation factor. Some say it accounts for 40% of the variation in investors' returns; others (like the original researchers) say 90%. But no one refutes that it's major.
6. Average is the new best
The best way to own common stocks is through an index fund.
--Warren Buffett
Here's the logic behind index funds, which aim simply to match the return of a market index: The average fund in any market will always earn that market's return (because in aggregate investors are the market) minus expenses. Since index funds match the market but have much smaller expenses than other funds, they will always beat the average fund in the long run. It's hard to argue with the math, and history bears it out (see the performance stat at right). Besides, if the Greatest Investor of Our Time believes that index funds are superior for most investors, shouldn't you?
7. Practice patience
It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
--Edwin Lefevre
This blunt warning was issued in Lefevre's 1923 fictional memoir, reportedly based on legendary trader Jesse Livermore and treated by many financial advisers like the Bible. Some 77 years later, behavioral finance professors Terrance Odean and Brad Barber's research into transactions by some 66,000 households between 1991 and 1996 found that those who traded least earned seven percentage points a year more than the most frequent traders. Moral: Once you arrange your assets into your ideal allocation, don't tinker. Rebalance once a year to keep your mix on track, but otherwise, listen to Livermore and sit tight.
8. Don't time the market
The real key to making money in stocks is not to get scared out of them.
--Peter Lynch
It would be so nice, wouldn't it, to sell before every market downdraft and then get back in just as the good times roll again. But it's too hard to pull off. Nobody knows when markets will turn (see Rule No. 1). And when they do, they tend to move in quick bursts. By the time you realize an advance has begun, most of it's over. Miss that initial stretch and you'll miss out on most of the gains. The lesson: The surest way to investing success is to buy, then stick to your guns.
9. Be a cheapskate
Performance comes and goes, but costs roll on forever.
--Jack Bogle
If you choose a fund that eats up 1.5% a year in expenses over one that costs 1% (let alone the 0.2% that index funds may charge), your fund's return will have to beat the other's by half a point a year just for you to come out even. Past returns are no guarantee of the future, but today's low-cost funds are likely to stay low cost. Buying them is the only sure way of giving yourself a leg up.
10. Don't follow the crowd
Fashion is made to become unfashionable.
--Coco Chanel
Or, as the legendary financier Sir James Goldsmith has said, "If you see a bandwagon, it's too late."
In the late 1990s, there was no more fashionable bandwagon for investors than Firsthand Technology Value fund. It returned 23.7% in 1998, but investors really piled into it after it rocketed an incredible 190.4% in 1999. But by then, the bust of 2000 was about to unfold, and Firsthand was soon to become as passé as plaid trousers. The result was a chilling example of the perils of following the herd: While the fund posted a respectable 16% annualized gain over the four years through 2001, the average shareholder in the fund actually lost more than 31.6% a year.
11. Buy low
If a business is worth a dollar and I can buy it for 40 cents, something good may happen to me.
--Warren Buffett
The best Dow stocks of the past 10 years don't include Microsoft or Intel. But Caterpillar (Cat) makes the cut with a 212% return. In 1997, in the midst of tech madness, the market was so bored by the company's industrial-machinery business that investors paid just $11.50 for each dollar of earnings. If the stock's current value of 16.1 times earnings is right, that's nearly a 30% discount. Smart investors didn't need to foresee the coming construction boom. They only needed to call a bargain a bargain and trust the market to eventually wise up.
12. Invest abroad
The World is a book, and those who do not travel read only a page.
--St. Augustine
Over the 10 years through 2006, a portfolio split 80%-20% between U.S. and international large-cap stocks would have returned an average 8.4% a year, roughly the same as a portfolio invested 100% in domestic stocks. But because U.S. and foreign markets partially offset one another's ups and downs, the global portfolio was 4% less risky than the all-American (see Rule No. 4). Most Americans have less money in foreign funds than the 15% to 25% experts recommend. But you don't have to be like most Americans.
13. Keep perspective
There is nothing new in the world except the history you do not know.
--Harry Truman
When the Dow sheds 300 points in a day, it's natural to feel doomed. And when the market surges, it's easy to be convinced that stocks have entered "a new paradigm," to echo a bubble-era phrase. Don't delude yourself. As Sir John Templeton notes, "The four most expensive words in the English language are, `This time it's different.' "
To keep your perspective, remember:
* In every bull market since 1970, stocks have dropped by 10% or more at least once. Average time to get back to even: 107 days.
* Over time, markets tend to stick close to their long-term trends, called "regression to the mean." Manias and panics never last.
14. Just do it
It takes as much energy to wish as it does to plan.
--Eleanor Roosevelt
Financial planning is an unnatural act. The brain is wired to make us undervalue long-term goals and exaggerate the cost of short-term sacrifice. Yet studies show that people who do even a little retirement planning had twice the savings of those who did almost none. Heed the words attributed to Mrs. Roosevelt by doing the following:
* Set concrete, attainable goals. "I'll pay an extra $100 a month on my credit card" is more likely to succeed than "I'm going to get my act together."
* Then commit. Tell someone your plan and agree to a penalty--you'll do your spouse's chores for a month if you haven't saved $10,000 extra by June.
15. Borrow responsibly
As life closes in on someone who has borrowed far too much money on the strength of far too little income, there are no fire escapes.
--John Kenneth Galbraith
Face this truth: If you let them, lenders are only too willing to advance you more than is good for your family. Mortgage banks and credit-card issuers don't care if your monthly payment makes it impossible for you to sock away money in your 401(k) or fund your kid's 529 plan. You need to set your own rules, including:
* No credit-card debt. Period. It's never okay to pay 15% to borrow for consumption.
* Borrow only to buy assets that appreciate. A home, yes. Education, sure. A vacation, a fancy dinner or even a 50-inch flat-screen TV? No way.
16. Talk to your spouse
In every house of marriage there's room for an interpreter.
--Stanley Kunitz
Your most important financial partner isn't your broker. It's your spouse--you know, the one who probably owns half of all you do and whose fate is inextricably linked with yours. But research shows that spouses often don't agree on even such basic info as their income and savings. Wake-up call: To make smart decisions, you need to talk, and if you're like most couples, to do a better job at it.
* Men: Don't assume she doesn't care about this stuff. She does. But you need to lay off the jargon and speak English.
* Women: Don't just leave it all to him. At a minimum, know where the key papers are and how your money is invested.
* Both: Focus on goals, not on being right. It's not a contest.
17. Exit gracefully
Only put off until tomorrow what you are willing to die having left undone.
--Pablo Picasso
Despite the words he reportedly uttered, Picasso was willing to die without planning his estate. It took years for his heirs to reach a settlement with French authorities. Although you may not have masterpieces to bequeath, you have no excuse not to take elementary steps to make life easier on those you'd leave behind. Covering the basics shouldn't cost more than $1,500.
To find a lawyer, ask friends and colleagues for recommendations or get referrals online at the website of the American Academy of Estate Planning Attorneys. For tips on dividing emotion-laden personal belongings--more often the flash point for family tension than money or big-ticket items--check out the website Who Gets Grandma's Yellow Pie Plate?
18. Pay only your share
The avoidance of taxes is the only intellectual pursuit that carries any reward.
--John Maynard Keynes
It's all well and good to put time into choosing the right investments. But being conscious of taxes puts money in your pocket too (at least it keeps it from being taken from your pocket, which amounts to the same thing), and the payoff is swift, certain and there for the taking. So take full advantage of tax-deferred benefits at work, like 401(k)s and flexible spending accounts. Stick with tax-efficient investments like index funds. And claim every deduction you're entitled to. According to the Government Accountability Office, taxpayers who could itemize but chose not to ended up overpaying by $450. Don't be one of them.
19. Give wisely
The time is always right to do the right thing.
--Martin Luther King Jr.
Granted, Dr. King did not have money on his mind when he spoke these words. But they also ring true in your financial life, since giving back is always the right thing. Still, there are more right and less right ways to do it.
* Look beyond the headlines. It's fine to give money to disasters like the tsunami, but don't forget about smaller charities that go wanting.
* Don't give over the phone. Telemarketers often take a cut of 50% or more.
* Focus. Identify a cause that really speaks to you. Then devote most of your energy and charitable dollars to the organizations that best support it.
20. Keep money in its place
A wise man should have money in his head, but not in his heart.
--Jonathan Swift
People who say they value money highly report that they are less happy in life than those who care more about love and friends. Enough said.
Traducir al español
20 Timeless Money Rules
by Carla Fried
Thursday, August 23, 2007 provided byCNNMoney.com
Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived.
1. Be humble
When you do not know a thing, to allow that you do not know it--this is knowledge.
--Confucius
Investing is a big bet on an unknowable future. The mark of wisdom is accepting just how unknowable it is. Granted, that's not easy. Our brains are built to think the future will be like the near past. And we're too ready to act on the predictions of pundits, who are no more clued in than we are about what lies ahead.
Being humble in the face of uncertainty keeps you from costly mistakes. You won't jump on yesterday's bandwagon. And before you invest, you'll be more likely to ask a key question: "What if I'm wrong?"
2. Take calculated risks
He that is overcautious will accomplish little.
--Friedrich von Schiller
The returns you get are proportionate to the risk you take. This is a fundamental law of the markets. It's why five-year CDs typically pay more than six-month ones and why you're disappointed if your emerging markets fund does no better than its stodgy blue-chip stablemate. History unequivocally supports this "no free lunch" principle. Going back to 1926, stocks (high risk) have paid more than government bonds (medium risk), which in turn have beaten low-risk Treasury bills.
Among many, many other things, this law suggests:
* To earn returns high enough to build true wealth, you have to put some of your money in risky assets like stocks--the only investment to handily beat inflation over time.
* If a financial salesperson tries to tell you his product offers a high return with no risk, get that claim in writing. Then send it and his business card to the SEC.
3. Have an emergency fun.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
The first step in constructing any serious financial plan is to create an emergency cash fund--ideally, three to six months' living expenses--stashed in a low-cost ultrasafe bank account or money-market fund. Without this financial cushion, any unexpected expense can derail your long-term plans.
These days, happily, that emergency stash won't just sit idle. Top bank accounts like the one at UFB Direct (888-580-0049) and perennially competitive money funds like Vanguard Prime (800-851-4999) now pay more than 5%.
4. Mix it up
It is the part of a wise man to keep himself today for tomorrow and not to venture all his eggs in one basket.
--Miguel de Cervantes
Nothing can break the law of risk and reward, but a diversified portfolio can bend it. When you spread your money properly among different asset types, a rise in some will offset a fall in others, muting your overall risk without a commensurate drop in return. It's the closest thing to a free lunch there is in investing. To make the alchemy work, you must load up on assets whose up and down cycles don't run in sync: stocks (both U.S. and foreign, as well as large-company and small), bonds (of varying maturities), cash, real estate and commodities.
5. It's the portfolio, stupid
Asset allocation...is the overwhelmingly dominant contributor to total return.
--Gary Brinson, Brian Singer and Gilbert Beebower
Most investors concentrate on trying to choose the best stock and pick the perfect moment to buy or sell. It's a waste. What really matters to your long-term returns is asset allocation--that is, how you split up your portfolio.
Since researchers dropped this bombshell 20 years ago, experts have debated the size of the asset-allocation factor. Some say it accounts for 40% of the variation in investors' returns; others (like the original researchers) say 90%. But no one refutes that it's major.
6. Average is the new best
The best way to own common stocks is through an index fund.
--Warren Buffett
Here's the logic behind index funds, which aim simply to match the return of a market index: The average fund in any market will always earn that market's return (because in aggregate investors are the market) minus expenses. Since index funds match the market but have much smaller expenses than other funds, they will always beat the average fund in the long run. It's hard to argue with the math, and history bears it out (see the performance stat at right). Besides, if the Greatest Investor of Our Time believes that index funds are superior for most investors, shouldn't you?
7. Practice patience
It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
--Edwin Lefevre
This blunt warning was issued in Lefevre's 1923 fictional memoir, reportedly based on legendary trader Jesse Livermore and treated by many financial advisers like the Bible. Some 77 years later, behavioral finance professors Terrance Odean and Brad Barber's research into transactions by some 66,000 households between 1991 and 1996 found that those who traded least earned seven percentage points a year more than the most frequent traders. Moral: Once you arrange your assets into your ideal allocation, don't tinker. Rebalance once a year to keep your mix on track, but otherwise, listen to Livermore and sit tight.
8. Don't time the market
The real key to making money in stocks is not to get scared out of them.
--Peter Lynch
It would be so nice, wouldn't it, to sell before every market downdraft and then get back in just as the good times roll again. But it's too hard to pull off. Nobody knows when markets will turn (see Rule No. 1). And when they do, they tend to move in quick bursts. By the time you realize an advance has begun, most of it's over. Miss that initial stretch and you'll miss out on most of the gains. The lesson: The surest way to investing success is to buy, then stick to your guns.
9. Be a cheapskate
Performance comes and goes, but costs roll on forever.
--Jack Bogle
If you choose a fund that eats up 1.5% a year in expenses over one that costs 1% (let alone the 0.2% that index funds may charge), your fund's return will have to beat the other's by half a point a year just for you to come out even. Past returns are no guarantee of the future, but today's low-cost funds are likely to stay low cost. Buying them is the only sure way of giving yourself a leg up.
10. Don't follow the crowd
Fashion is made to become unfashionable.
--Coco Chanel
Or, as the legendary financier Sir James Goldsmith has said, "If you see a bandwagon, it's too late."
In the late 1990s, there was no more fashionable bandwagon for investors than Firsthand Technology Value fund. It returned 23.7% in 1998, but investors really piled into it after it rocketed an incredible 190.4% in 1999. But by then, the bust of 2000 was about to unfold, and Firsthand was soon to become as passé as plaid trousers. The result was a chilling example of the perils of following the herd: While the fund posted a respectable 16% annualized gain over the four years through 2001, the average shareholder in the fund actually lost more than 31.6% a year.
11. Buy low
If a business is worth a dollar and I can buy it for 40 cents, something good may happen to me.
--Warren Buffett
The best Dow stocks of the past 10 years don't include Microsoft or Intel. But Caterpillar (Cat) makes the cut with a 212% return. In 1997, in the midst of tech madness, the market was so bored by the company's industrial-machinery business that investors paid just $11.50 for each dollar of earnings. If the stock's current value of 16.1 times earnings is right, that's nearly a 30% discount. Smart investors didn't need to foresee the coming construction boom. They only needed to call a bargain a bargain and trust the market to eventually wise up.
12. Invest abroad
The World is a book, and those who do not travel read only a page.
--St. Augustine
Over the 10 years through 2006, a portfolio split 80%-20% between U.S. and international large-cap stocks would have returned an average 8.4% a year, roughly the same as a portfolio invested 100% in domestic stocks. But because U.S. and foreign markets partially offset one another's ups and downs, the global portfolio was 4% less risky than the all-American (see Rule No. 4). Most Americans have less money in foreign funds than the 15% to 25% experts recommend. But you don't have to be like most Americans.
13. Keep perspective
There is nothing new in the world except the history you do not know.
--Harry Truman
When the Dow sheds 300 points in a day, it's natural to feel doomed. And when the market surges, it's easy to be convinced that stocks have entered "a new paradigm," to echo a bubble-era phrase. Don't delude yourself. As Sir John Templeton notes, "The four most expensive words in the English language are, `This time it's different.' "
To keep your perspective, remember:
* In every bull market since 1970, stocks have dropped by 10% or more at least once. Average time to get back to even: 107 days.
* Over time, markets tend to stick close to their long-term trends, called "regression to the mean." Manias and panics never last.
14. Just do it
It takes as much energy to wish as it does to plan.
--Eleanor Roosevelt
Financial planning is an unnatural act. The brain is wired to make us undervalue long-term goals and exaggerate the cost of short-term sacrifice. Yet studies show that people who do even a little retirement planning had twice the savings of those who did almost none. Heed the words attributed to Mrs. Roosevelt by doing the following:
* Set concrete, attainable goals. "I'll pay an extra $100 a month on my credit card" is more likely to succeed than "I'm going to get my act together."
* Then commit. Tell someone your plan and agree to a penalty--you'll do your spouse's chores for a month if you haven't saved $10,000 extra by June.
15. Borrow responsibly
As life closes in on someone who has borrowed far too much money on the strength of far too little income, there are no fire escapes.
--John Kenneth Galbraith
Face this truth: If you let them, lenders are only too willing to advance you more than is good for your family. Mortgage banks and credit-card issuers don't care if your monthly payment makes it impossible for you to sock away money in your 401(k) or fund your kid's 529 plan. You need to set your own rules, including:
* No credit-card debt. Period. It's never okay to pay 15% to borrow for consumption.
* Borrow only to buy assets that appreciate. A home, yes. Education, sure. A vacation, a fancy dinner or even a 50-inch flat-screen TV? No way.
16. Talk to your spouse
In every house of marriage there's room for an interpreter.
--Stanley Kunitz
Your most important financial partner isn't your broker. It's your spouse--you know, the one who probably owns half of all you do and whose fate is inextricably linked with yours. But research shows that spouses often don't agree on even such basic info as their income and savings. Wake-up call: To make smart decisions, you need to talk, and if you're like most couples, to do a better job at it.
* Men: Don't assume she doesn't care about this stuff. She does. But you need to lay off the jargon and speak English.
* Women: Don't just leave it all to him. At a minimum, know where the key papers are and how your money is invested.
* Both: Focus on goals, not on being right. It's not a contest.
17. Exit gracefully
Only put off until tomorrow what you are willing to die having left undone.
--Pablo Picasso
Despite the words he reportedly uttered, Picasso was willing to die without planning his estate. It took years for his heirs to reach a settlement with French authorities. Although you may not have masterpieces to bequeath, you have no excuse not to take elementary steps to make life easier on those you'd leave behind. Covering the basics shouldn't cost more than $1,500.
To find a lawyer, ask friends and colleagues for recommendations or get referrals online at the website of the American Academy of Estate Planning Attorneys. For tips on dividing emotion-laden personal belongings--more often the flash point for family tension than money or big-ticket items--check out the website Who Gets Grandma's Yellow Pie Plate?
18. Pay only your share
The avoidance of taxes is the only intellectual pursuit that carries any reward.
--John Maynard Keynes
It's all well and good to put time into choosing the right investments. But being conscious of taxes puts money in your pocket too (at least it keeps it from being taken from your pocket, which amounts to the same thing), and the payoff is swift, certain and there for the taking. So take full advantage of tax-deferred benefits at work, like 401(k)s and flexible spending accounts. Stick with tax-efficient investments like index funds. And claim every deduction you're entitled to. According to the Government Accountability Office, taxpayers who could itemize but chose not to ended up overpaying by $450. Don't be one of them.
19. Give wisely
The time is always right to do the right thing.
--Martin Luther King Jr.
Granted, Dr. King did not have money on his mind when he spoke these words. But they also ring true in your financial life, since giving back is always the right thing. Still, there are more right and less right ways to do it.
* Look beyond the headlines. It's fine to give money to disasters like the tsunami, but don't forget about smaller charities that go wanting.
* Don't give over the phone. Telemarketers often take a cut of 50% or more.
* Focus. Identify a cause that really speaks to you. Then devote most of your energy and charitable dollars to the organizations that best support it.
20. Keep money in its place
A wise man should have money in his head, but not in his heart.
--Jonathan Swift
People who say they value money highly report that they are less happy in life than those who care more about love and friends. Enough said.
viernes, 24 de agosto de 2007
Seguro de Viaje Corporativo
MNU acaba de lanzar al mercado su seguro de viaje corporativo. Este producto le permite a las empresas tener un inventario de dias a precios muy competitivos. Adicionalmente, este producto tiene la opción de contratar, mediante pago de prima adicional, que las preexistencias esten cubiertas. Adjunto el folleto de ventas y el formulario que hay que llenar para proveer una cotización.
lunes, 20 de agosto de 2007
Tasa de Interés
La posiblidad que la tasa de interés termine a fin de año encima de 5%, bajo sustancialmente despues del recorte que realizo la Fed. la semana pasada. Esta gráfica parece montaña rusa.
jueves, 16 de agosto de 2007
martes, 14 de agosto de 2007
En datos adjuntos estoy enviándoles información sobre el plan extra vida de American Fidelity. Se los explico en un par de líneas, para verificar detalles, favor leer el adjunto.Este plan está creado para trasladar coberturas o incrementar la cobertura para clientes que tienen ya un seguro con otra compañía sin examen médico hasta $ 250,000.00
Traslado de Cobertura: Pueden trasladar las coberturas de pólizas emitidas de Enero 01 de 1995 en adelante en otras compañías a American Fidelity hasta un monto máximo de $ 250,000 sin examen médico, a los planes Platinum, Ultra u Optima.
Incremento: Pueden vender adicionalmente un incremento a personas que tengan seguro con otra aseguradora hasta $ 250,000 siempre y cuando hayan pasado exámenes médicos en los últimos 36 meses.
Para detalles favor leer el adjunto o comunicarse con nosotros.
lunes, 13 de agosto de 2007
jueves, 9 de agosto de 2007
miércoles, 8 de agosto de 2007
Registro de Pólizas de Seguros
Por: Eduardo Zumbado
Las aseguradoras comúnmente deben registrar pólizas estándares previo a su comercialización. El registro usualmente incluye el clausulado, la ficha técnica de cómo se llegó a la prima y capacidad financiera de la compañía que asume el riesgo. Un atentado al libre mercado, arguyen algunos, pero considerado reiteradamente necesario por las autoridades reguladoras de la industria de diversos países.
El registro de productos no se da solo en la industria aseguradora, vemos casos más claros con menos polémica en la industria alimenticia y en la farmacéutica. Quizás la polémica sea menor en estas últimas porque incide en la salud de las personas, casos más prioritarios y evidentes que la salud financiera, que es el objeto de los seguros.
Las autoridades usualmente escogen regular aquellos riesgos que tienen una amplia base de asegurados. Siendo el seguro un bien intangible y su contrato uno de adhesión, su principal preocupación es evitar el abuso de la compañía incluyendo cláusulas “leoninas” que hagan prácticamente inoperante la póliza. Esto cobra mayor relevancia cuando existen pólizas complicadas inclusive para un técnico; así, el registro de pólizas procura evitar el abuso, pudiendo la autoridad solicitar la variación de una cláusula que considere abusiva, inoperante o contraria a la ley.
Otro aspecto fundamental en el registro es la tarifa o tasa que se cobra por el seguro. En términos generales, al registrar una póliza, la compañía debe adjuntar la ficha técnica que explica cómo llegó a la tarífa que cobra. Se busca que la prima no sea excesiva, que no discrimine injustamente, que no sea inadecuada o irracional. Nuevamente el objetivo del ente regulador es buscar la protección del asegurado. No es solo que obtenga la tarifa más baja sino, aquella que no sea excesiva para él como riesgo (no sea excesiva ni que discrimine injustamente) y que permita al asegurador sobrevivir para llegar a cumplir con sus obligaciones (adecuada y racional).
¿Que prefiero, un producto registrado o uno no registrado? Mediante el contrato de seguros transfiero el riesgo que no deseo conservar, a una empresa aseguradora. No quiero asumir el riesgo adicional de tener problemas en el momento que mi familia mas lo necesite, sencillamente porque contraté quien sabe qué producto con que compañía; así como que tampoco compraría una pasta de dientes no registrada que recientemente sacaron del mercado porque fue hecha con materiales no aptos para humanos.
Las aseguradoras comúnmente deben registrar pólizas estándares previo a su comercialización. El registro usualmente incluye el clausulado, la ficha técnica de cómo se llegó a la prima y capacidad financiera de la compañía que asume el riesgo. Un atentado al libre mercado, arguyen algunos, pero considerado reiteradamente necesario por las autoridades reguladoras de la industria de diversos países.
El registro de productos no se da solo en la industria aseguradora, vemos casos más claros con menos polémica en la industria alimenticia y en la farmacéutica. Quizás la polémica sea menor en estas últimas porque incide en la salud de las personas, casos más prioritarios y evidentes que la salud financiera, que es el objeto de los seguros.
Las autoridades usualmente escogen regular aquellos riesgos que tienen una amplia base de asegurados. Siendo el seguro un bien intangible y su contrato uno de adhesión, su principal preocupación es evitar el abuso de la compañía incluyendo cláusulas “leoninas” que hagan prácticamente inoperante la póliza. Esto cobra mayor relevancia cuando existen pólizas complicadas inclusive para un técnico; así, el registro de pólizas procura evitar el abuso, pudiendo la autoridad solicitar la variación de una cláusula que considere abusiva, inoperante o contraria a la ley.
Otro aspecto fundamental en el registro es la tarifa o tasa que se cobra por el seguro. En términos generales, al registrar una póliza, la compañía debe adjuntar la ficha técnica que explica cómo llegó a la tarífa que cobra. Se busca que la prima no sea excesiva, que no discrimine injustamente, que no sea inadecuada o irracional. Nuevamente el objetivo del ente regulador es buscar la protección del asegurado. No es solo que obtenga la tarifa más baja sino, aquella que no sea excesiva para él como riesgo (no sea excesiva ni que discrimine injustamente) y que permita al asegurador sobrevivir para llegar a cumplir con sus obligaciones (adecuada y racional).
¿Que prefiero, un producto registrado o uno no registrado? Mediante el contrato de seguros transfiero el riesgo que no deseo conservar, a una empresa aseguradora. No quiero asumir el riesgo adicional de tener problemas en el momento que mi familia mas lo necesite, sencillamente porque contraté quien sabe qué producto con que compañía; así como que tampoco compraría una pasta de dientes no registrada que recientemente sacaron del mercado porque fue hecha con materiales no aptos para humanos.
lunes, 6 de agosto de 2007
Adjunto una presentación interesante de Lloyd´s de Londres. Entre las cosas que me llamaron la atención de la presentación esta que Lloyd´s hace seguro directo en 74 países/territorios. Así mismo esta regulada por el FSA (Financial Service Authority); por consiguiente aquellas personas que cuenten con una póliza emitida por Lloyd´s (cómo es en el caso de los clientes de Multinational Underwriters) cuentan con la protección que brinda el Financial Ombudsman Service en Inglaterra.
viernes, 3 de agosto de 2007
Something to think about....
There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity Here are some very
interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he
needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him.
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year.
He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules. Rule number 1: do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television.
8. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had
scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates
became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people: "Stay away from credit cards and invest in yourself and
Remember:
A. Money doesn't create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things; just spend on them who are really in need rather.
F. After all it's your life then why give chance to others to rule our life."
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