Welcome to this week’s publication of the Market’s Compass Developed Markets Country (DMC) ETF Study #505. It highlights the technical changes of the 21 DM Country ETFs that I track on a weekly basis and publish every third week* There are three ETF Studies that include the Market’s Compass US Index and Sector (USIS) ETF Study, the Developed Markets Cou…
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Think of public housing, and a familiar picture comes to mind: hulking, run-down brick tenement buildings, graffiti-strewn malfunctioning elevators, crime, drugs, and all the social ills that go with it. Unsurprisingly, previous governments sought to move away from public housing as a solution for low-income residents. However, the affordability crisis has placed housing firmly back in the spotlight, and public or social housing, as it is now being termed, is once again being touted as a solution.
If only it were that simple.
With homelessness on the rise and both the working and middle classes feeling the effects of elevated home prices—homes are unaffordable in 80% of U.S. counties—high interest rates and escalating rents, there’s little doubt about the need for affordable housing. Even both presidential candidates have offered solutions.
“This is hitting first-time home buyers that can’t get into the housing market. This is hitting middle-class renters who are spending more than 50% of their income on rent,” Brian McCabe, Associate Professor of Sociology at Georgetown, told Time. “It’s not that there’s never been an affordability crisis before, but it’s now an affordability crisis that’s hitting a much broader set of Americans.”
Not all public housing consists of crime-ridden, poorly maintained tenements. It’s back in the spotlight because of innovative and attractive developments such as The Laureate in Montgomery County, Maryland, which has transformed notions of what the term can mean. In most settings, the Laureate would be termed a luxury apartment building with its raft of amenities and attractive, modern construction.
Montgomery County has been an innovator in public housing initiatives. It instigated a landmark law that requires developers to set aside about 15 percent of the units in new projects for households making less than two-thirds of the area’s median income—now $152,100 for a family of four. For-profit developers built the Laureate, but the controlling owner is a government agency, the Montgomery County Housing Opportunities Commission. H.O.C. has a 70% stake, so the Laureate can set aside 30% of its 268 units for affordable housing.
It’s a far cry from the first self-contained and largest cooperative housing development ever built, Co-op City in the Bronx. Few can dispute the bold intentions and even bolder scale of the 15,000-unit development, completed in 1973 and often referred to as a “city within a city.” Democratic lawmakers Alexandria Ocasio-Cortez and Tina Smith cited Co-op City as an example of how public housing can work. However, that development has a history of poor management, corruption, and squalid conditions, which led to an emergency repair bill of $500 million in 2003. Co-op City, while laudable for its intentions, is hardly the shining star to encourage further investment in public housing.
But neither is The Laureate as attractive as it is. That’s because the Laureate is geared toward the middle class and is located in a wealthy county. Residents who earn around $50,000/year can expect to pay $1,700 for a one-bedroom apartment, compared with a market rent of around $2,200. Other residents might expect to pay half the advertised rate depending on their income. Montgomery County was able to kick in $100 million, using its ownership position to become a benevolent investor that trades profits for lower rents.
“The private sector is focused on return on investment,” Chelsea Andrews, H.O.C.’s executive director, told the New York Times. “Our return is public good.”
Unfortunately, that’s not a position that many financially stressed counties can adopt. Public housing is usually financed by the Department of Housing and Urban Development and operated by one of the nation’s roughly 3,300 public housing agencies, which are locked in a steady decline.
That’s partly why private developers are rejecting government money for affordable housing. Mismanagement and red tape in the public sector have a history of bloating construction expenses and other costs for developers. It’s why—despite the commitment of tens of billions of dollars from Californian State and local government, some developers such as S.D.S. Capital Group, which recently completed a 49-unit apartment building in South Los Angeles, has self-financed the project. S.D.S. told the Wall Street Journal that it cost them $291,000 per unit to build instead of the roughly $600,000 that the city of Los Angeles has averaged for similar apartments.
A recent report commissioned by the city of San Jose found that affordable housing projects that received tax credits cost an average of around $939,000 a unit to build there last year. The average affordable unit in the Bay Area costs $817,000 to build, according to a study by the Bay Area Housing Finance Authority and the affordable housing finance company, Enterprise.
Rather than using government cash, S.D.S., an investment firm, raised a $190 million fund to build an estimated 2,000 units for formerly homeless people in the city with mental health and other medical needs. The speed of private, self-funded construction has proved to be a big savings compared to the governmental bureaucracy that hampers similar projects.
“We believe there’s a different way than using government money, which really becomes slow and arduous and increases cost,” Deborah La Franchi, chief executive of S.D.S., told the Wall Street Journal.
“You’re cutting out millions of dollars just in soft costs,” David Grunwald, an executive at R.M.G. Housing, which is developing the S.D.S. fund’s projects, said of private financing.
Unlike many landlords, S.D.S.’s model is unique in that it accepts government vouchers—Section 8—to house residents. The Los Angeles City Housing Authority says there are over 1000 unused tenant vouchers at any one time, which provides a captive market for S.D.S. buildings.
Activists have found that the rejection of Section 8 vouchers by brokers looking to rent apartments is a nationwide issue. A watchdog group, Housing Rights Initiative, filed a lawsuit in New York in 2022, citing—after a sting operation—the discriminatory practices of landlords and real estate agents when turning away prospective tenants who rely on subsidies to pay rent. It is illegal in New York City for landlords to refuse to accept applications from tenants who depend on them.
“Housing discrimination is not an isolated incident,” Aaron Carr, the executive director of the Housing Rights Initiative, told the New York Times. “It is a part of an industrywide problem.”
When Bill Clinton encouraged the movement away from public housing construction with the Faircloth Amendment in 1998, the hope was that private landlords in mixed-income buildings would take up the slack. Henry Cisneros, Bill Clinton’s H.U.D. Secretary developed a plan that consolidated grant programs and shifted the emphasis to housing vouchers over traditional public housing subsidies.
According to a H.U.D. report, HOPE VI, a H.U.D. program aimed to redevelop “severely distressed” public housing projects, demolished 98,592 public housing units and replaced them with 97,389 mixed-income units between 1993 and 2010. It was widely considered a move out of a Republican playbook and received no blowback. However, gentrification and the demand for housing from non-voucher renters have pushed Section 8 tenants further into the margins of low-income housing in dicey neighborhoods. Many tenants feel that rejecting Section 8 is a mask for racial discrimination. Some landlords and renters conversely feel Section 8 tenants can disrupt their buildings and neighborhoods.
As if public/affordable housing wasn’t facing enough issues, soaring insurance costs have made things unsustainable for developers, landlords, and management companies. It’s not just in areas of extreme weather but nationwide where costs have quadrupled along with deductibles.
Unlike market-rate apartment developers, multifamily projects financed by subsidies and tax credits cannot pass on those higher insurance costs to tenants since they are limited by government guidelines as to how much rent they can collect. As a result, developers and housing authorities have appealed to state lawmakers for assistance or have decided to abandon affordable housing completely. According to a National Leased Housing Association survey, nearly one-third of affordable housing providers reported increases of at least 25 percent.
“In 2020, I would have said this is cyclical; the pendulum has always been swinging,” Denise Muha, the organization’s executive director since 1988, told the New York Times. “But this is totally different. I don’t see this really curing itself anytime soon.”
Affordable housing in America is an oxymoron in this day and age. The red tape, bureaucracy, and social issues that come with providing it have made it a minefield for developers and investors. While public housing developers such as S.D.S. have largely circumvented the problem by taking matters into their own hands and bypassing the government, there is still the issue of management and upkeep. The lessons learned from Co-op City City is that despite a city’s best intentions, when the management of a project cannot run efficiently and ethically and without the finances it needs, things will deteriorate quickly.
Public housing advocates worldwide often point to Vienna, which, with its huge apartment complexes known as Gemeindebauten, has made Austria’s capital one of the world’s most livable cities. Why they have succeeded so spectacularly in Austria but not so in the U.S. is, however, a far longer discussion.
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.
Over the years many companies have saved on their taxes by taking advantage of Section 179 and Section 168(k) of the IRS Tax Code. Herein we’ve provided some information about the opportunity for tax savings, the changes, and things to consider in order to take advantage of the tax benefits.
The new initiative has been created following a partnership with Reboot Coding Institute (Reboot01), the academic and training institution. This collaboration ensures that the academy will deliver education and training, leveraging the combined expertise of BFB and Reboot01.
Bader Sater, CEO of Bahrain FinTech Bay said: “Developing fintech talent has always been at the core of Bahrain FinTech Bay’s mission. For years, we have dedicated ourselves to nurturing the next generation of fintech leaders. We are now excited to take this commitment to a new level by scaling our efforts into a full-fledged Academy. The MENA-IA represents a significant milestone in our journey to empower professionals across the region with the skills and knowledge needed to excel in the dynamic fintech landscape.”
MENA-IA will also be partnering with various global universities which will enable it to offer a range of courses and programmes. This will ensure that participants gain both broad industry knowledge and deep technical skills. These include:
The inaugural programme of the academy will be led by the University of California, Berkeley (UCB) and its Berkeley-AMENA Entrepreneurship and Development (Berkeley-AMENA) to bring expertise to the academy. UCB will deliver and certify the course on artificial intelligence in fintech, set to begin on 18 November.
Dariush Zahedi, director at AMENA Center for Entrepreneurship & Development, University of California, Berkeley added: “We are excited to collaborate with the MENA Innovation Academy to deliver this cutting-edge course on AI in FinTech. AI and Generative AI are rapidly transforming the financial services industry, and through this hands-on, project-based workshop, participants will gain the essential skills for addressing real-world financial challenges using advanced AI tools.
“This collaboration reflects our commitment to fostering innovation and equipping professionals with the expertise to navigate the future of fintech.”
This eight-week programme is tailored for non-technical professionals to upskill and learn applied uses of generative AI tools for financial institutions. Utilising a hybrid delivery model, spaces are limited to 50 participants, ensuring an engaging and focused learning experience.
This offering is just one of the many programmes planned for the year. The MENA Innovation Academy is committed to delivering a diverse range of courses and workshops, catering to the evolving needs of professionals in the financial and technology sectors. With a robust curriculum and a focus on practical, real-world applications, the academy aims to be a cornerstone of professional development in the region.
Yanal Jallad, managing director of Reboot Coding Institute said: “At Reboot, we are proud to be at the forefront of Bahrain’s tech education landscape, developing talent to meet the demands of the rapidly evolving digital economy.
“This partnership with Bahrain FinTech Bay marks a pivotal moment for us as we expand into the fintech space. The MENA Innovation Academy will play a key role in shaping the future of fintech in the Kingdom, aligning with Bahrain’s strategic vision of driving innovation and growth across industries.”
Insurance Agency eMarketing is commonly delineated as AN art and a science, however, the fundamentals ought to be straightforward enough for any agent to follow. sadly I’ve seen several basic rules are broken by agents causation out emails that use colored fonts, capital letters within the subject line, ANd prolific use of spam words like “free offer” that ar virtually absolute to send an email to a junk folder. The list below represents the highest ten tips to assist guarantee insurance agency eMarketing success. the following tips apply to each tiny scale campaigns mistreatment straightforward eMarketing tools (even Outlook) and huge-scale campaigns that run within the thousands of contacts.
Easy Opt-Out – make certain you have got a straightforward “unsubscribe” link and quickly take away anyone World Health Organization desires be deleted.
NO SHOUTING – See however unhealthy those capital letters look? don’t shout in your subject line or the body of the e-mail.
No colored Font – If you’re trying to promote an expert product or service, don’t use gimmicky colored text.
Minimal daring & Italic Font – daring and italicized fonts aren’t off-limits, however, keep their use to a minimum. solely a phrase or 2.
No Spam Words – keep one’s distance from “Free Offer” or “Satisfaction Guaranteed”.
The simple decision to Action – If you have got someone’s attention, build it fast and straightforward for them to require action.
Offer price – make certain the prospect can receive a true profit by responsive your decision to action.
Subject Line Promise – make certain your subject line fittingly describes the content of your email body. Not solely is that this the skilled thanks to approaching eMarketing, it’s additionally one in all the CAN-SPAM Act rules.
And bear in mind, diagrammatically wealthy hypertext mark-up language emails might look nice on your laptop, however, won’t probably show that means on your target prospect’s laptop, and ar additional probably to be intercepted by the spam filter. straightforward and terse business emails usually work higher than diagrammatically wealthy emails, and appearance way more like business communication and fewer like advertisements. make certain you scan the CAN-SPAM Act rules and closely follow these vital rules.
Dividend investors who focus on generating steady income need to focus on tax planning to maximize long-term returns. While dividend income is a reliable source of cash flow, taxes levied can significantly impair an investor’s net earnings.
The tax implications vary based on the income of the investor and if the dividends are qualified or non-qualified, with different investors being taxed at different rates.
For instance, an investor holding qualified shares of Apple bought during 2019 at $42/share, with less than $44,625 in annual income, would have received $6,275 in dividend income over five years, or $313/quarter, compared to less than $100/share per quarter for someone who bought the stock before the dividend being announced and at the highest tax bracket (37%).
Over a long enough horizon, investors can save hundreds of thousands of dollars in dividend income by optimizing their taxes. This article will go over the best approaches to minimizing taxes on dividends to maximize long-term returns.
For instance, a dividend from a U.S. corporation held for more than 60 days within 121 days surrounding the ex-dividend date may be considered qualified and is taxed at a range of 0% to 20%.
On the other hand, dividends from certain foreign companies or those not meeting the holding period criteria are classified as non-qualified and are taxed at the individual income tax rate, which can be as high as 37%.
Essentially, this is done to encourage long-term investment, offering a tax-efficient income to committed investors.
Investors can use tax-advantaged accounts like Individual Retirement Accounts (IRAs) and 401(k)s for holding dividend-paying investments, which can significantly amplify wealth over time through tax-deferred growth.
Taxable accounts are subject to annual rates, which can impact the overall return, especially if dividends are non-qualified and taxed at the higher ordinary income rates.
Investors focusing on minimizing taxes can use tax-differed accounts, such as Traditional IRAs, which are not taxed until withdrawal, which is typically during retirement when the investor may be in a lower tax bracket.
Roth IRAs offer an even more compelling benefit for dividend investors. Although contributions are made with after-tax dollars, both the investment growth and withdrawals during retirement are tax-free, including the dividends earned, which can be a powerful tool for maximizing retirement income. In 2024, the Roth IRA contribution limit is $7,000 for those under 50 and $8,000 for those 50 and older.
Investors can use Tax-loss harvesting as a strategy to minimize the taxes on their dividends. Tax-loss harvesting involves selling investments at a loss to offset taxes on capital gains.
This is particularly useful for investors looking to reduce their taxable income by pairing the sale of underperforming stocks with the gains of successful investments. Investors can realize the capital gains from a dividend-paying stock and sell another investment at a loss to neutralize the tax impact of the gain.
For instance, if an investor held shares of Planet Lab from the date of its SPAC in 2021, which has declined, showing a loss of $8,500 and has a gain of $10,000 on shares of Microsoft bought in 2019. This investor can then sell the shares in PlanetLab realizing the $8,500 loss and apply it against the $10,000 gain in Apple, effectively reducing the taxable capital gains to $1,500.
One thing that investors should consider is the IRS’s wash-sale rule, which prohibits claiming a tax deduction for a security sold in a loss if a substantially identical security is purchased within 30 days before or after the sale. The IRS has introduced the rule to prevent taxpayers from abusing tax-loss harvesting to create artificial losses.
Estate planning is a crucial part of managing the tax implications of dividend income for investors, thereby ensuring that their investment strategy aligns with their legacy goals.
A critical strategy that can be taken up during estate planning is the step-up in basis rule, which adjusts the value of inherited assets to their market price at the time of the original owner’s death.
This adjustment can significantly reduce capital gains taxes on inherited dividend-paying stocks, as beneficiaries are taxed only on gains that occur after the inheritance rather than from the original purchase price.
Another solution is to incorporate trusts or charitable donations to optimize the tax efficiency of the stock portfolio. By transferring dividend-paying stocks into a trust, investors can potentially lower estate taxes and provide a structured income stream to beneficiaries.
Donating stocks to charity can offer tax deductions while supporting philanthropic causes, allowing investors to manage their taxable estate’s size and leverage dividend income for social impact.
Dividend investors looking to optimize their portfolios for tax optimization need to understand taxation, leverage retirement accounts, employ tax-loss harvesting techniques and incorporate estate planning strategies.
Investors must stay informed of tax laws and focus on tailoring these strategies to their unique circumstances, ensuring a robust, tax-efficient investment portfolio poised for long-term growth.
By Travis Christy, White Coat Insurance
OK, the title of this post is a bit attention-grabbing, but I had to find a way to pique your interest. Let’s face it, insurance isn’t the most thrilling topic—it usually screams, “Here we go again with another lecture on life or disability insurance!” But bear with me. This is a real-life story about someone close to me who ended up accessing their term life insurance payout without the typical scenario of passing away (and trust me, this person would approve of that headline).
Let me take you back to when things got serious, when (for anonymity purposes I’ll call the person Kate) Kate shared her shocking diagnosis with me in a phone call:
“Hey, what’s up?” I said casually when she called.
Through tears, I heard her say she had some devastating news. “I’ve just been diagnosed with stage 4 cancer!”
“What!” I exclaimed. “How . . . when . . . I don’t understand. How long do you have?”
“There’s still a lot we don’t know, but we hope to figure out more in the coming weeks,” she replied.
I’ve known grief before. I experienced the profound loss of my father at a young age and a baby brother who didn’t make it. While death is something we all face, it’s especially jarring when it strikes unexpectedly early. Kate, just two years younger than me and in her mid-40s, has so much life ahead of her. She’s a mother to four children, most of whom are still in school.
Life has a way of throwing curveballs, and this situation has certainly disrupted her family’s path.
When I asked about her insurance coverage, she mentioned having a small disability policy through work. That would provide more than $1,000 a month for three months. I encouraged her to file the claim right away. Additionally, she had been paying premiums on two term life insurance policies for several years, totaling nearly a half million dollars in death benefits. I asked her to send me the details so I could review the contracts and explore any potential benefits they might offer.
Upon reviewing the policies, I discovered that both included what’s called an Accelerated Death Benefit (ADB). This meant she could potentially access a portion of her life insurance payout while still alive, provided her prognosis indicated a shortened life expectancy—typically 12 months.
Broaching this topic with her was heart-wrenching. I struggled with the idea of discussing the possibility of her passing or filing a claim on her life insurance. It was a tough conversation to entertain, but I knew the financial support could make a significant difference for her family. These funds could cover bills and other expenses, easing the financial strain as they navigated the emotional toll of her illness.
I called her to share the news. I explained that her policies allowed her to access funds early without the need for her passing away. If approved for the benefit, she could choose to receive up to 75% of the death benefit face amount on one policy and up to 50% on the other one. This substantial support could sustain her family for an extended period, with the remaining death benefit still available as long as premiums were paid.
I encouraged her to pursue the benefit and, above all, to fight fiercely to overcome this cancerous monster. I stressed that this could be a blessing for her family—especially considering one of her children has autism, and her youngest child had just turned 12. Qualifying for the accelerated benefit would alleviate a significant worry for Kate and her husband.
This wasn’t just about navigating a difficult conversation; it was about ensuring her family could find stability and support. After much consideration and wrestling with the decision, she and her husband ultimately decided it was wise to proceed with the claims process.
The Accelerated Death Benefit (ADB) is a built-in feature on most life insurance policies at no additional cost. Some policies, however, may have the feature as an inexpensive rider. The ADB allows policyholders to access a portion of their death benefit while still alive under specific conditions. This provision is designed to offer quick cash during critical times, particularly when the policyholder is facing severe health challenges, such as terminal, chronic, or critical illnesses.
For example, a terminal illness can qualify a policyholder for the ADB if a physician certifies that the illness is expected to result in death within a certain period, typically 12 months. In such cases, the policyholder can receive a lump sum payout to help cover medical bills, household expenses, or other financial needs. However, if the illness does not meet these criteria—if, for example, the life expectancy is projected to extend beyond 12 months—the ADB claim may be denied.
The flexibility of the ADB is one of its key advantages. Policyholders can choose to accelerate a portion of the allowed amount of the death benefit or the entire amount. It’s up to them. This ensures that the remaining death benefit can still be available to beneficiaries after the policyholder’s death. For chronic illnesses, policyholders could reapply for benefits annually, allowing for ongoing financial support as needed. This flexibility makes the ADB a good solution for managing the financial strain associated with serious health conditions.
While many ADB riders are marketed as having “no additional cost” or a “minimal cost,” it’s important to understand that if the benefit is paid out, it is deducted from the total life insurance death benefit. When a claim is made, insurance companies use a formula to determine the payout, factoring in things like interest rates; mortality rates; and, for permanent life insurance policies, the policy’s cash value.
The positive news is that if the insured—let’s say Kate in this case—outlives her life expectancy after receiving the ADB payout, there’s no need to worry about the insurance company asking for the benefit to be returned. Once the ADB is triggered and paid out, the benefit is yours to keep, even if you defy the odds and live longer than expected after a diagnosis of terminal or critical illness.
As for taxes, this is what the IRS has to say about exercising an ADB:
“Amounts paid as accelerated death benefits are fully excludable from your income if the insured has been certified by a physician as terminally ill. Accelerated death benefits paid on behalf of individuals who are certified as chronically ill are excludable from income to the same extent they would be if paid under a qualified long-term care insurance contract.”
More information here:
A Pain in the Butt – My Dental Disability Story
Why I Dumped My Disability Insurance Policy at 43 Years Old
To gain deeper insight into her journey, both emotionally and practically, I asked her a series of questions about her experience with cancer and the process of filing the insurance claim.
Kate: I went to the emergency room because I thought I had appendicitis. The pain was intense and localized, and I was convinced that my appendix was the issue. However, when the doctors reviewed my CT scan, they discovered not only my ruptured appendix but also over 20 lesions on my liver.
This unexpected finding led to further investigation, including a liver biopsy. The results were devastating: I was diagnosed with stage 4 colon cancer that had metastasized to my liver. The news was a complete shock, especially since I had none of the common symptoms typically associated with colon cancer. I had been feeling generally well, with no significant changes in my bowel habits or persistent abdominal discomfort.
The diagnosis turned my world upside down, and I had to come to terms with the severity of my condition.
Travis: What has been the hardest part of treatment, and how are you coping?
Kate: I believe I’m coping much better now than when I was first diagnosed. Initially, the news was overwhelming, and it took time for me to come to terms with the reality of living with a chronic and life-threatening illness. My doctor was very upfront about the nature and duration of the treatment, explaining that it would most likely continue for the rest of my life. This has helped me manage my expectations and the likelihood of never being cancer-free.
Physically, the hardest part has been pain management. I accessed palliative care earlier this year and realized that I should have taken advantage of this resource from the beginning. It has been a game changer to help me cope with side effects and stay positive.
Travis: Who or what has been your biggest support during this time?
Kate: My family and friends have been my biggest cheerleaders and supporters. My husband has been great about coming with me to appointments and chauffeuring me to scans, etc. He and our kids have been great to step up around the house when I haven’t been physically able to do much. Our friends supplied us with meals and visits, especially in the beginning when I was very sick and when I have had other setbacks during my treatments. God has also been instrumental in helping me along this journey. I know many prayers have been offered on our behalf, and they have been felt immensely.
Travis: How is your family handling the situation?
Kate: My family has been very supportive. I know it has been difficult on our kids, especially when I have been very sick. My husband always says he’s not going to panic until there is something to panic about. He has been a steady rock through all of this even though I know it has been hard on him.
More information here:
Financial Lessons Learned from a Doctor-Turned Patient
How My Recent Brain Tumor Diagnosis Made Me Reevaluate My Finances
Travis: What were your thoughts when you found out about the Accelerated Death Benefit?
Kate: I was right in the beginning of my diagnosis when I first learned about the Accelerated Death Benefit. Honestly, I was the last one on board. It felt like a price was being put on my life, and that is very hard to face.
Travis: How did you decide to go ahead and file the claim?
Kate: Travis advised us to apply for everything we could right away. In addition to the ADB, I also applied for my short-term disability through my employer and Social Security disability, which can take time to be accepted and received. We really did need the financial stability so I could focus on my treatment.
I discussed it with my husband and had a better understanding of how the Accelerated Death Benefit works. We were grateful for how it could provide much-needed financial support during my treatment, helping us so we didn’t have to constantly worry about bills and expenses. It really is designed to ease the financial burden on families facing illnesses like this. I can focus more on my care and less on the monetary side of things.
Filing the claim was a step toward taking control of our situation and planning for the future with a sense of security and peace of mind.
Travis: How was the process of filing the claim? Any unexpected challenges?
Kate: The process of filing the claim was initially quite frustrating. One of the main difficulties was obtaining the correct paperwork. Neither of the insurance companies had the necessary claim forms readily available on their websites, which meant that I had to make several phone calls back and forth to request the forms.
Once we finally received the correct forms, the next hurdle was ensuring we had all the required medical information to support the claim. This is where the support of my oncologist and his nurse was so valuable. They were incredibly helpful and understanding, helping us gather all the necessary medical documents. They made a significant difference, providing the detailed medical records and information required to complete the claim.
After completing the paperwork, the process became much smoother. With the right forms in hand and all the medical information organized, we were able to submit the claim more efficiently. The support from my healthcare team was so important in this journey, and their promptness helped alleviate some of the stress.
Travis: How did the insurance company handle your claim?
Kate: The insurance company took a few weeks to review my claim. I was able to follow up with both companies to get an idea of the timeline for decisions. I received approval for both accelerated benefits, and the transfer of funds happened quickly. It was a huge relief, as it eased our financial worries and allowed us to shift our focus more fully onto my treatment and well-being.
Travis: How has receiving the benefit helped your family financially?
Kate: Receiving the benefit has been extremely valuable, especially when I became unable to work earlier this year and am unsure when I will be able to return to the workforce. The financial support provided by the benefit has allowed us to bridge the gap left by my lost income. We have been able to set aside enough from the benefit to cover my earnings for the next few years. This has allowed us to prioritize my cancer fight by eliminating the stress of finances.
We have used the benefits to pay for medical bills not covered by insurance and to meet our out-of-pocket maximum as well as added costs for the extra transportation we have had.
Travis: What advice would you give to others considering buying life insurance and looking at the Accelerated Death Benefit?
Kate: The Accelerated Death Benefit has been a blessing to our family. I think any couple looking into the financial future should consider term life insurance with this rider, even for the partner who isn’t the primary earner.
As of this writing, Kate is doing well, and she has the opportunity to participate in experimental treatments. She’s still battling her cancer, and she recently received news her tumors aren’t getting any bigger, which is great news. I’d like to thank her for the opportunity to interview her and participate in this post.
Do you know anyone who’s used the ADB rider for their term life insurance? Was it helpful? Did they get pushback from the insurance company? Comment below!
Muzaffarnagar: Punjab National Bank (PNB) ke employees ne Zonal Manager Mr. Balbir Singh ke khilaaf protest shuru kiya hai, jisme unhone Chief Manager Jimmy Tirkey ke saath huye misbehavior ko lekar apna gussa jahir kiya. Protest ke karan lagbhag 85 branches bandh rahi. Chief Manager ne Zonal Manager ke khilaaf police mein complaint bhi file ki hai.
PNB ke officers aur employees ne Zonal Head ko hataane ki demand ki hai aur bola hai ki jab tak sahi action nahi liya jata, tab tak unka protest continue rahega.
Ye protest All India Punjab National Bank Officers Association (AIPNBOA) aur Punjab National Bank SC/ST Welfare Association ke under organize kiya gaya hai. Protesters PNB ke Divisional Office, Circular Road, Muzaffarnagar mein ikattha hue aur Zonal Manager Balbir Singh ke khilaf apna gussa show kiya. Unhone bataya ki Zonal Manager senior officers ke saath continous harassment aur unki insult karte aaye hain.
Tuesday ko Chief Manager Jimmy Tirkey aur Branch Manager Indrajit Singh ko Meerut office bulaaya gaya, jaha meeting ke time Zonal Manager ne unhe “bekaar” kehkar unki insult ki. Yeh bhi kaha gaya ki Chief Manager ko 6-7 ghante tak office ke bahar stool par bithaya gaya, jahan unhe mental harassment aur abusive language ka saamna karna pada. Chief Manager ne apne letter mein yeh bhi mention kiya ki unke khilaaf jaati-suchi (caste based) bhasha ko use kiya gaya.
PNB ke officers aur employees ne iska virodh karte hue pura divisional office bandh kar diya. Association ne kaha hai ki PNB ke higher authorities ko Zonal Manager ke behavior ke baare mein inform kiya gaya hai aur action lene ka assurance bhi diya gaya hai. Agar jaldi action nahi liya gaya, toh protests aur zyada badh sakte hain. Association ka kehna hai ki tab tak kaam shuru nahi hoga jab tak officers ki respect wapas nahi ki jaati.
Future mein bhi yeh protest employees ke saath milkar plan kiya jayega, agar Zonal Manager ke khilaf sahi action nahi liya gaya. Is case ki sari updates ke liye aap humare whatsapp channel ko join kar sakte hain.
श्रीमान वरिष्ठ पुलिस अधीक्षक महोदय,
जनपद – मेरठ।
विषय – प्रार्थी के साथ हुई उत्पीड़क कार्यवाही के सम्बन्ध में।
महोदय,
निवेदन है कि प्रार्थी जिमी तिर्की पुत्र श्री मधियास तिर्की हाल निवासी प्लॉट न० 202, पंजाब नेशनल बैंक मण्डल कार्यालय परिसर मुजफ्फरनगर का निवासी हूँ। प्रार्थी दिनांक 08.10.2024 को मैं ज़ोनल मैनेजर के आदेशानुसार अपने सहायक शाखा प्रबन्धक श्री इन्द्रजीत सिंह के साथ मण्डल कार्यालय मेरठ में प्रातः 10:00 बजे पहुँच गया जहाँ ज़ोनल मैनेजर श्री बलवीर सिंह ने मुझे बुलाया और मेरे साथ श्री इन्द्रजीत सिंह वरिष्ठ प्रबन्धक को भी बुलाया। श्री इन्द्रजीत सिंह को 10:30 बजे अंदर बुलाकर उन्हें मीटिंग में ले लिया और प्रार्थी को बाहर 125 नम्बर स्टूल पर बैठने को कह दिया गया। मैं दोपहर 3:30 बजे तक बाहर बैठा रहा। श्री बलवीर सिंह के द्वारा मुझे अंदर बुलाने के लिये कोई प्रयास नहीं किया गया। जब मेरी स्थिति और भी दयनीय हो गयी, तब मैंने अनुरोध किया कि मुझे भी अंदर बुलाया जाये। ज़ोनल मैनेजर बलवीर सिंह के द्वारा मुझे अंदर बुलाया गया और बिना कोई चर्चा किये मुझे पद की गरिमा की अनदेखी करते हुए तुच्छ बातें कही गयीं।
श्री बलवीर सिंह के द्वारा मेरे कार्य को पूर्णतया अनदेखा किया गया। जो कि पूरी तरह से अनैतिक है। मुझे मानसिक रूप से अपमानित करने के उद्देश्य से श्री बलवीर सिंह ने गुस्से से कहा कि तुम्हें बहुत हंसी हो रही होगी। चार-चार घण्टे से तुम्हें बाहर बैठा रखा हूँ, मैं तुम्हारी चमड़ी उतार दूँगा। यहाँ तक कि तुम जैसे लोगो को मैं चबाकर गटक जाऊँगा। तुम्हें मैं नौकरी से बर्खास्त कर दूँगा।
श्री बलवीर सिंह के इस अमानवीय व अभद्र व्यवहार से मुझे पूरी तरह मानसिक आघात पहुँचा है। जिससे मैं मानसिक व आत्मिक रूप से पूरी तरह टूट गया हूँ। मुझे अपने आपको सँभालना मुश्किल हो गया है।
अतः श्रीमान जी से प्रार्थना है कि प्रार्थी की पीड़ा को संज्ञान में लेते हुए ज़ोनल मैनेजर बलवीर सिंह के ख़िलाफ़ उचित व सख्त कार्यवाही करने की कृपा करें। ताकि भविष्य में मेरे व मेरे अन्य पदेन सहयोगियों के साथ श्री बलवीर सिंह द्वारा इस प्रकार का अमानवीय व्यवहार न किया जा सके।
दिनांक : 9/10/2024
प्रार्थी : जिमी तिर्की पुत्र श्री मधियास तिर्की
निवासी प्लॉट न० 202, पंजाब नेशनल
बैंक मण्डल कार्यालय परिसर मुजफ्फरनगर
Muzaffarnagar mein Punjab National Bank ke employees ka dharna abhi bhi jaari hai. Aaj raat 9:30 baje, Meerut ke Zonal Manager ne Muzaffarnagar visit kiya tha taaki issues ko solve kiya ja sake. Lekin dono parties ke bich baatcheet ka koi positive result nhi rahi, kyunki Zonal Manager ne employees ke demands ko accept karne se inkaar kar diya.
Is baatcheet ke fail hone ke baad, protest abhi bhi jaari rahega. Assistant General Secretary of AIPNBOA, Gauraw Kishore ne bataya ki kal subah se Bijnore, Moradabad, Meerut, aur Saharanpur se officers bhi iss protest mein shamil honge.
Gauraw Kishore ne yeh bhi kaha, “Humari ekta amar rahegi. AIPNBOA zindabad!”
The firm has brought on four new high-earning teams in New York, New Jersey and South Carolina in recent weeks as it continues to expand along the East Coast.
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Ryan Serhant’s eponymous brokerage has expanded its presence into the Hudson Valley and added four top-producing teams across New York, New Jersey and South Carolina, the firm announced.
Jake Garay | SERHANT.
The Garay-Michaud Team has joined SERHANT. from Berkshire Hathaway HomeServices Hudson Valley Properties. The eight-person team, which is led by Jake Garay and Blake Michaud, has closed more than $80 million in sales within the last year.
Garay said that the team’s move reflects its desire to be affiliated with a modern, forward-looking brokerage.
“We chose SERHANT. because it embodies the future of real estate,” Garay said in a statement. “Our team thrives on disruption and innovation, and we believe the real estate industry is ready for a change.
“Ryan and his team have built a platform that aligns perfectly with our client-first, forward-thinking culture and the way we do business. At SERHANT., we have the tools and vision to deliver an elevated experience for our clients and stay ahead of the curve. Together, we’re excited to push boundaries and redefine what’s possible in real estate.”
Kevin Bergin | SERHANT.
The firm has also expanded into Long Beach Island, New Jersey, with the addition of Beach House Group. For the past 10 years, the team has been known as Beach House Realty. The team of 13 agents is led by Kevin Bergin, who is also president of the Long Beach Island Chamber of Commerce. In the last 12 months, the team closed about $50 million in sales.
Bergin said Beach House Group joined the firm to level up its service through “the network and marketing approach that SERHANT. offers.”
RPM Elite has also joined SERHANT. in Morris County, New Jersey. The seven-agent team is led by brothers-in-law, friends and business partners Ryan Palianto and Michael Reddin who run the popular Instagram account @Property_Brothers_in_law. In 2023, the team closed on sales volume of nearly $40 million.
Michael Reddin | SERHANT.
“SERHANT. feels like the perfect company for my partner Ryan Palianto and I to work with,” Reddin said in a statement. “We all understand the power of social media and networking and love to hustle and grind. I personally feel for the first time in my life that I am on the right track and exactly where I want to be.”
The firm also recently brought on the Key Avenue Group to its growing presence in Charleston, South Carolina. Key Avenue Group is led by Christopher Smith and Patrick Ryan, formerly of Keller Williams, and brought in more than $90 million in sales volume from 2023 alone.
Christopher Smith | SERHANT.
“We chose SERHANT. because we feel the real estate industry is in need of change,” Smith said in a statement. “In many ways, the industry has become stagnant, and we refuse to accept that. We want to disrupt the market for the better by aligning ourselves with a forward-thinking company that empowers our team and clients with the best marketing and technology available.”
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