Connect with us

Bitcoin

Why Students Need Life Insurance Too

Published

on

As the cost of higher education rises, families turn to loans to send their children to college.

Shock statistics from the Consumer Financial Protection Bureau state that as of the end of last year, outstanding student loan debt was more than $1 trillion. Are you the parent of a college-going child?

Have you co-signed a loan to cover the cost of your child’s education and if so have you taken out life insurance in your child’s name to settle that loan in the event of his/her death?

Think about it this way. Like any other parent you want the best for your child and that includes a tertiary education.

You are happy to co-sign a student loan because you know that your child will work to pay back the loan once they have completed their studies. But then one day every parent’s nightmare becomes reality and your child passes away before he or she can pay back the loan, perhaps even before he or she can finish studying. What now? Because you co-signed the loan you are responsible for paying back what is owed.

This is where life cover steps onto centre stage. If you take out a life insurance policy in your child’s name you know that if he or she passes away their life insurance policy will pay the policy beneficiaries a lump sum amount. These funds can be used to pay off outstanding debt, including student loans, store cards and credit cards. The money can also be put towards funeral expenses as well as the costs of settling your child’s estate.

No parent wants to think about the death of his or her child. For many the thought of their child dying before them is too horrific to even contemplate. But as responsible adults we have to plan for the worst and ensure that we are financially protected against the death of our child. Think of it this way. If your child passed away and you assumed responsibility for his/her student debt how would you cope with the repayments? Would you be able to afford them? How, for example, would this unexpected financial burden affect your retirement plans?

Take charge and speak to your child today about taking out life insurance in his or her name. While it might be a difficult conversation it is one that has to take place. And remember, taking out life insurance while you are young and healthy means that you will save on premiums as you grow older.

Bitcoin

Bitcoin Falls to $40k Resulting in Over 180,700 Investors Liquidated

Published

on

Bitcoin Falls to $40k Resulting in Over 180,700 Investors Liquidated
  • UK’s Financial Conduct Authority publicly warned investors.
  • The largest crypto by market cap fell 10% in the previous week.

Fear of default by Evergrande Group, a Chinese real estate company, triggered a new round of crypto selling. 182,798 traders had been liquidated as of this report. The largest single transaction was a $14.52 million Bitfinex-ETH liquidation order.

CoinMarketCap.com values the global crypto market at $1.84 trillion, down around 1.6% from the previous day. The largest crypto by market cap fell 1% in the last 24 hours and 10% in the previous week.

After Tuesday’s sell-off, Bitcoin seems to have steadied around $40,000 support. After such a drop, analysts expect BTC to stabilize later this week.

A Parabolic Rise is Long Over-Due

Before the flash collapse earlier this month, funding rates were high, according to Delphi Digital, a crypto research company. However, the market was not as aggressive this time, resulting in a slightly better result. The developments surrounding Evergrande may cause increased volatility in the coming weeks.

On the charts, strong overhead resistance at $55,000 may limit short-term purchases. The U.S. With the Fed’s policy meeting ending on Wednesday and Bitcoin options expiring on Friday, volatility may remain high this week.

After this year’s relative Bull Run, an anonymous cryptocurrency expert told Nairametrics a parabolic rise is long overdue. Moreover, several weeks ago, the UK’s Financial Conduct Authority publicly warned investors about the risks of trading crypto assets.

The global crypto market is in the red due to the Evergrande crisis, dubbed as China’s Lehman Brothers. The uncertainty caused by Evengrande’s crisis impacted global stock markets. This crisis has a ripple effect on the cryptocurrency market as well as the global equity markets.

Continue Reading

Bitcoin

Study Reveals Even By 2030, C02 Footprint From Bitcoin Mining Not a Concern

Published

on

Study Reveals Even By 2030, C02 Footprint From Bitcoin Mining Not a Concern