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Why you should calculate your Insurance premiums in 2020

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How to calculate your insurance premiums in 2020

A company charges you money for coverage when you have an insurance policy. The expense is known as the Insurance Premium. You can pay the premium on a monthly or semi-annual basis depending on the insurance policy.



You may be expected to pay the full amount in advance in some cases, before coverage starts.

When you have an insurance policy, the company will charge you money for that coverage. The sum is known as the insurance premium. Based on the insurance policy, you can pay the premium on a monthly or semi-annual basis.

READ ALSO: Best Personal Loan companies that could lend you up to $700k in 2020

People always ask ” how much is an Insurance Premium?” There are no fixed insurance premium charges.

You might have the same car as your neighbor and end up paying for insurance more (or less)—even with exactly the same coverage. It’s worth shopping around and comparing prices and policies.

You’ll pay more for “better” coverage. For example, a health insurance policy with a $1,000 deductible will be pricier than one with a $5,000 deductible.

Similarly, a car insurance policy with a $0 deductible will be more expensive than a policy with a $500 one, all other factors being the same.

Still, that doesn’t mean you should automatically go for the cheapest policy, just to save money.

Insurance companies consider several factors when calculating insurance premiums:

The type of coverage. In general, you have several options when you buy an insurance policy. The more comprehensive coverage you get, the more expensive it will be.

For example, if you have an auto insurance policy that covers liability only, it will be cheaper than if you have a plan with collision, comprehensive, liability, medical payments, and uninsured/underinsured motorist coverage.

READ: Top Online Loan Websites in 2020

Your age. Insurance companies look at your age because that can predict the likelihood that you’ll need to use the insurance. With health insurance, younger people are less likely to need medical care, so their premiums are generally cheaper.

Premiums increase as people age and have a higher chance of needing more medical services. And teenage drivers are still working on building experience, so they’re more expensive to insure. Likewise, older drivers—who tend to have slower reflexes—will also pay more.



There are several by which we can lower Premiums though; One way is to “bundle” your insurance. For example, if you have your auto, home, and life insurance policies with one company, you’ll probably qualify for a discount.

When you boost your credit score, you may be responsible for lower auto insurance rates. This is because, statistically speaking, people with lower credit scores are more likely to be in an accident.

The whole point here is whether you’re bundling your policies, quitting smoking, or boosting your credit score, shopping around always pays. This way, at a price you can pay, you can find the best insurance policy.

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Guide to Improve your Digital Marketing Strategies

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Guide to improve your Digital Marketing Strategies

Guide to improve your Digital Marketing Strategies

A lot of people ask “is digital marketing important?” they don’t realize how many digital marketing assets they have at their disposal.



Digital marketing strategies is a vast field and has so many approaches and can be challenging when you are trying to choose a particular method. There is need to clearly define our goal, target audience, product and business.

So what about digital marketing? Google and Facebook generates more revenue than any traditional media company because they control more eyes.

That’s why digital marketing is important, it is where the attention is. It’s probably safe to assume a major part of your marketing strategy today is digital.

Guide to Improve your Digital Marketing Strategies 1
Digital Marketing strategy an integrated approach to online marketing

Consumers and businesses alike are almost always online and on-the-go — and you want to be able to reach them and observe their behavior where they spend their time.

What is a marketing strategy?

A marketing strategy is a plan for reaching a specific marketing-related goal (or goals) in a focused and achievable way.

Marketing strategies takes into consideration what your business is currently doing well and what you’re missing in regards to the objective you set, so you’re more likely to accomplish it.

What is digital marketing strategy?

A digital marketing strategy is a plan that helps your business achieve specific digital goals through carefully selected online marketing channels such as paid, earned, and owned media.

Tips in Creating a Digital Marketing Strategy

  • Identify your customers
  • Set a goal and identify your marketing tools
  • Organize your digital channels and assets
  • Audit your existing content
  • Bring your campaign together
  • Evaluate your existing paid media across platforms

Your strategy document will be very individual to your business, which is why it’s almost impossible for to create a one-size-fits-all digital marketing strategy template.

The list of digital marketing strategies is also constantly evolving, Here are a few links to beginner guides on how to create digital marketing strategies:

  • Pay-Per-Click Advertising
  • Paid Search Advertising
  • Search Engine Optimization (SEO)
  • Paid Social Media Advertising
  • Social Media Marketing
  • Conversion Rate Optimization (CRO)
  • Affiliate Marketing
  • Email Marketing
  • Native Advertising

Here’s a video of Neil Patel on digital marketing strategies

Digital marketing agencies who have certificates in digital marketing usually focuses on a different key performance indicator (KPI) for each channel so they can properly measure the company’s performance across each one.

A digital marketing company can take your business to the next level. Most people always want to know before venturing into online marketing by asking is digital marketing in demand? of course it is.

The core of every successful digital marketing campaign, however, isn’t a guide. Here are questions you need to answer before you get started with digital marketing:

  • How Much Do You Need to Make?
  • Who Are You Marketing To
  • What are Your Customers Worth

Digital marketing is the marketing of the future, getting started with digital marketing is fairly easy. Most online advertising platforms make it easy to sign up and create your first campaign.

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How to choose a Personal Loan Firm

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Personal loan

How to choose a Personal Loan Firm

Each lender has its own terms and conditions, so figure out what you’re looking for before you start comparing lenders.



Approval Requirements

Lenders often set minimums that borrowers need to meet for credit scores and years of credit history to qualify for personal loans.

They also care about your debt-to-income ratio, which is how your monthly debt repayments compare with your monthly income. Lenders like to see a low debt-to-income ratio.

Lenders may not be licensed to lend money in every state. Before comparing lenders, check to make sure they can offer loans where you live.

Some lenders allow you to take out a personal loan with a co-signer. A co-signer is helpful for people who don’t have enough income or credit history to qualify for a loan on their own.

With a co-signer, you can sometimes get a lower interest rate because the lender is taking into account the co-signer’s credit score and history as well. And there’s someone else the lender can collect from if you stop making payments.

The loan will also appear on the co-signer’s credit history, which could affect his or her ability to be approved for future credit. Keep this in mind if you ask someone to co-sign for you.

Lenders may offer merit-based qualifications, which means they will count your education, earning potential and more when approving you for a loan. This is especially helpful to low-income borrowers in the beginning of their careers.

Each lender may have a minimum income requirement that a borrower must meet to qualify for a personal loan. Borrowers with higher incomes tend to be better applicants because they have more money for repaying their loans. Still, a high income can’t fix a low credit score or high debt-to-income ratio.

Some lenders require that you work a certain number of years before you’re eligible for a personal loan. If you don’t have a long employment record or high income, make sure your credit score is strong.

Interest Rates

Most personal loans offer a fixed interest rate, which stays the same through the duration of the loan. A variable rate changes over the life of the loan, depending on prevailing interest rates.

Some borrowers don’t want the uncertainty of a variable-rate loan and prefer to stick with a fixed-rate loan.

Loan Terms

Each lender sets its own terms, such as loan amounts, repayment periods and use restrictions.

Every lender has a minimum and maximum loan amount, for example. If you’re looking for a personal loan under $2,000, you’ll need to find a lender offering that amount.

SoFi will lend up to $100,000, while Payoff lends up to $35,000. If you need to borrow $45,000, then only look at lenders that offer that amount or more. Don’t expect a personal exception if you need to borrow more than a lender’s maximum.

Lenders also have minimum and maximum repayment terms. You’ll typically have two to five years to pay off your personal loan, but some lenders offer terms of up to seven years.

The longer your loan period is, the lower your payments will be, but you will pay more in interest. If you can afford a higher monthly payment, go with the shorter loan period to save some money on interest.

Some lenders have restrictions on how you can use your loan. Payoff only allows you to apply its personal loan funds toward your credit card debt, while Earnest does not allow borrowers to use funds for business expenses.

Don’t lie about how you’re going to use the money. Lying on your loan application can be deemed loan fraud and can result in extra fees and charges.

Lenders also have their own time frames for how quickly you’ll receive your personal loan funds. Usually, funds are distributed within a few business days, and most lenders will disburse them electronically.

A few lenders offer discounts if you set up automatic payments online.This can help you avoid missing a payment and save a little on interest.

Fees and Penalties

One of the most important aspects to compare before choosing a personal loan is the fees each lender charges. Fees can significantly increase the cost of a personal loan. For example, a 3% origination fee on a $25,000 loan is $750.

An origination fee is the fee a lender charges to administer the loan. Only a few lenders, including LightStream, SoFi and Earnest, do not charge an origination fee.

Most lenders have an origination fee between 1% and 6%. The amount you pay for the origination fee may depend on your credit score; the higher your score, the lower the origination fee.

While some lenders charge a prepayment fee, none of the lenders in this guide do. A prepayment fee is a fee you pay for repaying your loan early or ahead of schedule.

Because most lenders enforce late fees, always pay your loan on time. Autopay can help you avoid missing a payment, which can result in a late fee and damage to your credit score.

Most lenders charge a minimal fee for returned payments, which happens when you have insufficient funds to cover your loan payment.

Repayment Options

Most lenders offer a few different repayment options, including autopay, check by mail or online, and even an option to change your payment date. These choices vary by lender, so make sure it offers the repayment option that works best for you.

Additional Features

Some lenders have additional features that make them a better fit for certain borrowers.

Discover, for example, lets you return personal loan funds within 30 days, with no interest, fees or other charges if you change your mind after the loan has been finalized. And SoFi has an employment assistance program that allows you to temporarily suspend payments and get personalized help finding a new job if you lose your job through no fault of your own.

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See Top Mortgage Banks in Nigeria

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Top Mortgage Banks in Nigeria

See Top Mortgage Banks in Nigeria

We would be looking at the top mortgage banks in Nigeria. There are numerous banks scattered across Nigeria, but a selected few are into mortgages. Before we delve into that, what is mortgage?



What is Mortgage

A mortgage is a loan – provided by a mortgage lender or a bank – that enables an individual to purchase a home. While it’s possible to take out loans to cover the entire cost of a home, it’s more common to secure a loan for about 80% of the home’s value.

The loan must be paid back over time. The home purchased acts as collateral on the money an individual is lent to purchase the home. The two most common types of mortgages are fixed-rate and adjustable-rate (also known as variable rate) mortgages.

See Top Mortgage Banks in Nigeria 2

Here are the top mortgage banks in Nigeria, this bank has assist people in getting their dream homes, their loans is perfect for those seeking mortgage loan to acquire properties in Nigeria, I will be listing the top mortgage banks in Nigeria.

FBN Mortgages

FBN Mortgages Limited is a leading Primary Top Mortgage Bank in Nigeria  with focus on delivering the best mortgage banking services and products that typify the dominance of its parent– First Bank in the financial services industry.

As a dedicated provider of a wide range of mortgage and real estate financing solution, FBN Mortgages is in a unique position to help customers make those critical steps towards seamless home ownership and real estate development. 

Platinum Mortgage Bank Ltd

Platinum Mortgage Bank Ltd is one of Nigeria’s leading Primary Mortgage Institutions. It was incorporated in 1992 with the Corporate Affairs Commission to provide savings, loans and homes ownership services, and licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria under the CBN Decree 24 of 1991 and FMBN Decree No. 53 of 1989 respectively to provide Mortgage Banking Services in Nigeria.

Formally called Platinum Home Investment and Mortgage Limited with Headquarters in Lagos, PMB Limited was recapitalized into a formidable Primary Mortgage Institution backed by innovative products, services, latest information technology and requisite professional management.

Abbey Mortgage Bank Plc

Abbey Mortgage Bank Plc is the premier, largest and most profitable, non-aligned Primary Mortgage Bank in Nigeria. It is one of the seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria (FMBN).

It is also an accredited primary mortgage bank (PMB) for the National Housing Funding (NHF) on-lending facilities. They offer various mortgage and investment products, guidance and advisory services to corporate organizations and individuals to empower them to access housing finance.

Abbey mortgage bank assist in finance and facilitate the provision of mortgage and real estate related services to respond to their needs. 

Federal Mortgage Bank of Nigeria (FMBN)

The Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria.

The Bank operates as an effective vehicle for increasing the mobilization of long-term funds, lending volume and expansion of mortgage lending services to all segments of the Nigerian population.

Hosing is a global problem but that of Nigeria is huge due to her huge population. Most Nigerians can’t afford to build a house of their own as majority can’t afford it.

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