12 Qualities of Self-Made Millionaires :

Millionaires are willing to do what 99 percent of people aren’t willing to do.

The 99 percent are idling away their time, money, and emotions while seeking approval from others, while the millionaires work to study and master the game of life. When people around them talk about problems, they find solutions. As people are "settling," they are constantly on the move.

Becoming a millionaire is a process. First, there is a lot of personal development involved. This means that you must have solid life skills for basic survival. Once you have these life skills in place, you must procure the professional skills that align best with your natural abilities.

Related: How to Become a Millionaire in Under 5 Years

When you acquire these professional skills, you must refine them by seeking advanced training. After you master your skills, you must find systems that either replace you or help you reach a higher level. Following this order will help you to achieve the success you’ve always wanted:

1. Personal Development
2. Gain Professional Skills
3. Master Skills
4. Create Systems to Leverage Yourself

If you want to learn about how you can get to the next level, there are certain qualities of self-made millionaires that you’ll need to adopt.  Here are 12 Qualities of Self-Made Millionaires:

1. Be confident.

There is no one like you. Your background, genetics, age, and current status can help you to achieve the success that you’ve been searching for. Be different. Be certain of yourself. Be enlightened of your possibilities. You’re already going to be the best at what you do. All you have to do is take what you get to get what you want.

2. Be curious.

A lot of people cheat themselves out of success because they fail to ask the right questions. Instead, they accept the status quo and make erroneous assumptions. Find out why things are the way they are. Learn about the truth and discover what it really takes to be successful. Challenge the norm and never conform.

3. Be excellent.

Becoming a millionaire demands excellence in every area of your life. You must be diligent in all of your affairs. Be a student and master your craft, even if it takes half of the day for the rest of your life. When rising on each level of success, teach others what you learned along the way. It will only lift you higher. Teachers must be students and students must be teachers.

4. Be consistent.

Every day, you must consistently deliver to the best of your abilities. Most people can apply themselves in intervals, but millionaires are constantly producing on higher levels. For me, I’ve been writing at least two articles per week for two straight years. I used to reach dozens per week, now I reach millions per week. I consistently improve my writing. There is unlimited progress in consistency.

Related: You Deserve to Be a Millionaire. Follow These 12 Tips to Get There

5. Be forceful.

People don’t know what they want until you give it to them. Sometimes you have to be forceful with your offerings. Move people to action by creating demand for their needs. Henry Ford was known for saying, “If I asked the people what they wanted, they would have said ‘Faster Horses’” If you keep supplying and proving the need, people will buy what you’re selling.

6. Be fearless.

People will tell you what you can’t do, where you can’t go, and who you can’t be. Forget these people. When I was in college, I failed a class because of my writing ability. Because of this, I dropped out and wrote my book in 10 days. I sold thousands of them and destroyed numerous obstacles along the way. Be fearless and erase all limitations.

7. Be unpredictable.

Most people act so routinely that you can predict their every move. To be more strategic, you must meander your way into different thought patterns, languages, and activities. By consciously creating opportunities for yourself and doing the unthinkable, you’ll be able to exceed your own expectations. Eventually, predictable people will ask you how you did it and you’ll have to give them your unpredictable answers.

8. Be unreasonable.

Unreasonable people change the world. Reasoning too long can often slow you down. It makes you think of the ‘what ifs’ in a negative way. Instead, move with unreasonable action and demand success in every area of your life. Sometimes this means going on 2 hours of sleep to finish reading a book. Do whatever it takes to get to your biggest goal in life, even if it hurts you in the short-term.

9. Be unduplicatable.

No one can copy you if you create a signature style for yourself. Whether you’re wearing bushy bowties or carrying Birkin bags, you need your style to work in your favor. Always say to yourself, “There is no one doing what I’m doing in the way that I’m doing it.” Eventually, your uniqueness will attract the kind of reputation that you’ve been looking for. All millionaires are completely unduplicatable.

Related: 8 Slow, Difficult Steps to Become a Millionaire

10. Be dominant.

Dominating your industry is easy. All you have to do is push a little harder than your competitor. For instance, a famous basketball player told me that most professional basketball players shoot around 500 shots per day. He shoots over 1,000 per day. That’s why he’s a perennial all-star in the NBA. You must mentally accept greatness for yourself and push your mind and body to unprecedented levels.

11. Be controversial.

To become a millionaire, you have to push the limits. You’ve got to ask for things that no one has dared to ask for. Controversy means that you are willing to walk and talk about the subjects that people avoid. Sometimes, you’ll be unpopular for being controversial, but do it anyways. Always push your agenda and help people understand what you’re trying accomplish. If they understand and want to help, bring them on your team.

12. Be universal.

Your theme may not always be accepted by everyone, but you have to constantly plant your seeds. The goal of a millionaire is to be ubiquitous and cultivate a massive appeal. Always ask the question, “How can I deliver more value to more people in less time?” Soon enough, you’ll go from planting 1,000 seeds to 1,000,000 seeds at a time. You can’t control how many seeds will grow, but you can plant more seeds.

Millionaires aren’t born with these qualities. They are developed over a lifetime. If your goal is to become a millionaire, you must be ruthless in all of your endeavors. You must ceaselessly pursue your goal to serve people on the highest level. Take these suggestions and improve the quality and quantity of service that you offer. Your impact equals your income. If you want to make a bigger impact, develop these qualities for the rest of your life and watch your income grow!

7 Types of Insurance You Need to Protect Your Business :

From the day an entrepreneur starts a business, he exposes himself to certain risks. Even before the first employee is hired, a business is at risk, making it important to have the right insurance in place. One lawsuit or catastrophic event could be enough to wipe out a small business before it even has a chance to get off the ground.

Fortunately, businesses have access to a wide range of insurance types to protect them against these dangers. Here are some insurance types that a business must have in place as soon as possible.

1. Professional liability insurance.

Professional liability insurance, also known as errors and omissions (E&O) insurance, covers a business against negligence claims due to harm that results from mistakes or failure to perform. There is no one-size-fits-all policy for professional liability insurance. Each industry has its own set of concerns that will be addressed in a customized policy written for a business.

2. Property insurance.

Whether a business owns or leases its space, property insurance is a must. This insurance covers equipment, signage, inventory and furniture in the event of a fire, storm or theft. However, mass-destruction events like floods and earthquakes are generally not covered under standard property insurance policies. If your area is prone to these issues, check with your insurer to price a separate policy.

3. Workers’ compensation insurance.

Once the first employee has been hired, workers’ compensation insurance should be added to a business’s insurance policy. This will cover medical treatment, disability and death benefits in the event an employee is injured or dies as a result of his work with that business. Even if employees are performing seemingly low-risk work, slip-and-fall injuries or medical conditions such as carpal tunnel syndrome could result in a pricey claim.

4. Home-based businesses.

Many professionals begin their small businesses in their own homes. Unfortunately, homeowner’s policies don’t cover home-based businesses in the way commercial property insurance does. If you’re operating your business out of your home, ask your insurer for additional insurance to cover your equipment and inventory in the event of a problem.

5. Product liability insurance.

If your business manufactures products for sale on the general market, product liability insurance is a must. Even a business that takes every measure possible to make sure its products are safe can find itself named in a lawsuit due to damages caused by one of its products. Product liability insurance works to protect a business in such a case, with coverage available to be tailored specifically to a specific type of product.

6. Vehicle insurance.

If company vehicles will be used, those vehicles should be fully insured to protect businesses against liability if an accident should occur. At the very least, businesses should insure against third-party injury, but comprehensive insurance will cover that vehicle in an accident, as well. If employees are using their own cars for business, their own personal insurance will cover them in the event of an accident. One major exceptionto this is if they are delivering goods or services for a fee. This includes delivery personnel.

7. Business interruption insurance.

If a disaster or catastrophic event does occur, a business’s operations will likely be interrupted. During this time, your business will suffer from lost income due to your staff’s inability to work in the office, manufacture products or make sales calls. This type of insurance is especially applicable to companies that require a physical location to do business, such as retail stores. Business interruption insurance compensates a business for its lost income during these events.

By having the right insurance in place, a business can avoid a major financial loss due to a lawsuit or catastrophic event. Check with your insurer to find out what forms of insurance are advised for your type of business and put those plans in place as soon as possible.

Business Interruption Insurance: What It Will -- and Won't -- Cover

Business Interruption Insurance: What It Will -- and Won't -- Cover

If you think you don’t need business interruption insurance, you might want to talk to Allison Dorst.

The Chatham, N.J., resident, who operates three ecommerce websites selling sportswear, was reimbursed for $10,000 in storage and relocation costs after an early winter snowstorm in 2011 caused a week-long power failure and melting snow endangered $50,000 of inventory stored in her basement.

This fall, Superstorm Sandy brought a prolonged power failure that shut down Dorst’s customer-service lines, causing sales to evaporate. She’ll also see lower sales because of a month-long delay in the delivery of next season’s styles. Fortunately, her interruption policy will reimburse the profit Dorst lost because of those missed sales.

"That was real money last time, but nothing compared to what I’m going through now," she says.

Unlike Dorst, most business owners don’t have interruption insurance, says Richard McGrath, independent broker at McGrath Insurance in Sturbridge, Mass. Cost may be a factor in why entrepreneurs pass on such coverage: Policy prices range from $750 to $10,000 or more, depending on business size.

But businesses may want to reconsider interruption insurance given the rising number of natural disasters. The annual total has increased from 400 major incidents in a typical year to more than 600, according to a recentsurvey from global insurer Allianz. 

Before getting interruption insurance, here are some issues to consider:

Common limitationsMost standard business insurance policies cover only loss or damage to tangible items -- your equipment and inventory and your warehouse, office or store -- and not lost profits if your business cannot operate.

To get business interruption coverage added to your business policy, you’ll need to document your current net income. If your net profits are substantial, beware of low per-incident limits -- $30,000 per incident is common – because they might cap your coverage far below the amount you’d need, McGrath says.

If your company is growing quickly, document many months of profits to demonstrate that income is accelerating. If you suffer an interruption, this will allow you to project that income would have continued to grow. Otherwise, the insurer may limit your coverage to the amount of the past year’s profits, says Bob Freitag, a public claims adjuster at AmeriClaims in Indian Trail, N.C.

Next, carefully note the types of interruptions you want to cover. Your interruption coverage will mirror what you covered in your main business policy, Freitag says. If you didn’t include flood coverage in your general policy, for instance, you won’t have interruption coverage for flooding, either.

Note that loss of utilities is often excluded from standard interruption policies, especially downed electric transmission lines -- the very issue that has bedeviled East Coast business owners post-Sandy. If you want that covered, Freitag says, you will need to add a rider to your policy.

Calculating coverageTo figure out your ideal coverage amount, you should envision how your business would be affected by a catastrophe, McGrath says. To start, examine all the costs that would continue even if your business couldn’t operate, such as loan or lease payments and taxes. Also, note charges that might cease, such as utility service to a destroyed building.

If you would want to keep workers on the payroll while you rebuild your factory or store to avoid losing skilled labor, your insurance should reimburse you for their salaries.

Additional coverageEven standard business interruption coverage doesn’t take care of every possible disaster cost. If you leave a destroyed warehouse and rent one that costs more, interruption insurance will cover only the old rate, McGrath says. Likewise, building replacement may be more expensive than expected due to new codes and modern materials costs. To cover these, you need an "extra expense" rider, Freitag says. It’s that type of provision that reimbursed etailer Dorst for the cost of moving her inventory in last year’s storm.

Your business is also at risk when related businesses are affected by disaster. For instance, an explosion at your website host’s server farm could take your site down or a key supplier may be unable to deliver if it’s wiped out in a hurricane. These events hurt your financial results even though your facility may be undamaged. "Contingent business" insurance covers your lost profits in these disaster scenarios, McGrath says.

Getting reimbursedInsurers will generally exclude the first few days after a disaster from their calculations, so put aside what you’d need in cash to cover those costs, Freitag says. Then, furnish your insurer with extensive documentation of your lost profits. Consider saving your records electronically off-premises or storing printed copies elsewhere, so you’ll still be able to prove your losses even if your main facility is destroyed.

CAR INSURANCE

Do you have to have insurance on a car?
ans:

If you don't carry insurance, the state can impound your vehicle. To find out what your state's minimums are, check out this Web site. Minimum coverage isn't necessarily all you should have. New Jersey, for example, requires car owners to carry a 15/30/5 liability package.

How much is insurance for a small business?
ans:The average cost of errors & omissions insurance can vary from $500 to $2500 a year for a sole proprietor, as of July 2011. Another type of insurance for sole proprietors to consider is general liability insurance. This basic insurance covers injury claims, property claims and advertising claims.

Why do you have to have car insurance?
ans: At its most basic, car insurance protects you, your car, and other people from the consequences of any road accident you might be involved in. It provides financial compensation to cover any damage to property, or injuries to other drivers, passengers, or pedestrians.

What type of insurance pays for your car if you are in a wreck that is not your fault?
ans: you pay for damage to another person's property (this is called property damage liability) or for costs associated with their injuries (the coverage known as bodily injury liability) that you are responsible for. Coverage Limits.

thanks you :)

The Different Types of Life Insurance Policies

The Different Types of Life Insurance Policies :

There are many types of life insurance available today and choosing one can be challenging. It is essential to evaluate the benefits that can be attained from each cover. There are various features and factors to consider when making a decision with regard to this type of insurance. The concept behind it is provision for loved ones even after death and the dynamics of the beneficiary can be used to determine what cover you should have. Fees and charges, flexibility and the time frame should also be factored in. Consider these types of life insurance.

Whole Life Insurance

This is a policy that is active during the whole duration of the insured individual’s life. The premiums are usually paid annually to the insurance and the primary advantage is that the protection given will not decline in value or expire.

Term Life Insurance

This coverage is available for a predefined and limited period and the payments at a fixed rate. The death benefit s paid after the insured person dies during the specified term. There are different forms of this insurance.

Annual Renewable: This is a simple policy that covers a single year and the premiums paid will be based on the likelihood of the individual dying within the year. Renewing can be challenging especially in the case of terminal illnesses.

Level: In this case, there is a predefined period the premium is guaranteed to remain the same as long as the contract set is still active.

Return Premium: This form of insurance allows the insured to get some of the premiums paid in the case that the policy expires while they are still alive.

Universal Life Insurance

This is a policy that offers permanent life insurance and one can also access the tax-deferred cash value of the cover. The advantage attained is the flexibility in the premium payments, the savings as well as the death benefits.

Variable Life Insurance

This is a permanent life insurance form that provides an opportunity for investment in addition to the death benefits. The insured can invest in separate accounts and these are included in the cash component of the policy. The advantages include the investment options, tax deferral and the guaranteed death benefit.

Variable Universal

This policy has aspects of both the universal and variable life insurance. The variability is in the value accounts in which the insured can invest and the universal aspects allow flexibility in payments of the premium.

Indexed Universal

This is an insurance that will provide death benefits as well as an opportunity to build up the cash value of the policy. It is referred to as the indexed since the increase of the cash value is based partly on the increase in the market indexes. The insured is usually protected from the decline in the markets through minimum interest rates.

Survivorship Universal

This is a cheaper alternative to individual types of life insurance. It provides cover for two people and the benefits can only be paid after they are both gone. It is beneficial to those who want an affordable policy that results in a larger cumulative sum.

Consider individual aspects of each policy such as guarantee of death benefits, flexibility and cash value to make certain that you have the best cover that suits the needs presented.

10 Different Types of Health Insurance

10 Different Types of Health Insurance :

If you are reconsidering your health care plan or you are searching for a new policy, it is important to know different types of health insurance plans. Knowing their rules, costs, and what they cover will enable you choose the right health insurance plan. Here are 10 different types of health insurance.

1. Health maintenance organization (HMO) plans

HMO is a popular health plan because it is usually less expensive for the insurance. The costs can be reduced through a negotiation with a specific health provider. However, you are required to visit their hospitals and their doctors, or use certain providers if you want your claims covered.

2. Preferred Provider Organization (PPO) plans

This type of health insurance shares some similarities with HMOs. You can negotiate with a healthcare provider for lower healthcare costs. Most people prefer PPO over HMOs because it allows freedom of choice. You can visit any doctor or hospital to get medical care for a subsidized fee. PPOs have negotiations with several doctors and hospitals which forms the PPOs network.

3. Point of service plans

This plan has features of both PPOs and HMOs. However, under this plan, you can go within or outside the POS network. If you choose a doctor within the POS network, all the costs are covered. However if you choose a doctor or a hospital outside the network, you will have to pay part of the bill.

4. Indemnity Plans

This plan allows you to visit the best hospital or the best doctor available. The hospital will submit a bill to the insurance company to claim the medical fee reimbursement. The major parts of the bill are reimbursed by the insurance company and the minor parts are to be paid by the individual. Most of these plans offer a lifetime benefit.

5. Health savings account

This is an account that allows you to save some money for present or future medical expenses. Saving your money in a health saving account is a good way of cutting taxes because it is not taxed. The health benefits include catastrophic health, child checkups, reimbursement on hearing aids and damaged eye glasses, and traditional health checkups sometimes.

6. Catastrophic health insurance plan

This health plan protects people from paying high medical fees in case of an accident or in case of a very serious illness. The individual will have to pay some premiums which are not very expensive. However, you will only be covered for all major illness but not general checkups and medicine costs.

7. Child health insurance programs (CHIP)

CHIP offers free or low health cost for children up to the age of nineteen. Children belong to families whose combined income is less than $50,000 a year. Individuals should be green card holders of a particular country. Though the scheme differs from state to state, the common benefits include immunizations, lab, dental care, checkups and x-ray services.

8. Medicaid

It is a health insurance plan administered by the government to disabled, children and pregnant women with very low income. The plan covers HIV protection, dental care and numerous preventive measures.

9. MEDICARE

This is a health program that provides insurance to the elderly and disabled persons regardless of their income level. A person who is above the age of sixty five, or someone who is disabled is eligible for MEDICARE benefit. However, a person has to pay a monthly premium of around $100 during his or her working days to enjoy this plan in his or her old age

10. Managed care

Managed care plan is a network of few doctors, clinics and hospitals. You are required to visit clinics, doctors and hospitals in their network for reimbursement to happen.

The Different Types of Car insurance Coverage :

Car owners need to get insurance for their cars to get some assistance incase they are ever in an accident or there is something wrong with the car. There are different types of car insurance offered in the market including:

∞Liability Insurance – Most states require all car owners to have this type of insurance. In the event that there is an accident and the police find out that it was your fault, the cover will be used to repair the property that was damaged in the scenario like buildings or cars and the medical bills incurred by the injuries that resulted.

• Collision Insurance – The collision insurance spells out that the insurer will pay for the damages on your car or give you an amount that sums up to the total value of the vehicle. This compliments the liability insurance especially in cases where you might not remain with any money to work on your car after an accident.
• Comprehensive Insurance – This is one of the types of car insurance that car owners are advised to have because collision and liability insurance don’t cover a lot of things that could affect the condition. This includes things like animal collision, theft and weather damage among many other things that are covered by this type of insurance.
• Uninsured Motorist Protection – This comes in handy especially in cases where liability insurance cannot cover all the costs of repairing the car. This way the car and other bills will still be taken care of without having to dig deeper in your pocket.
• Personal Injury / Medical Protection – The costs that are associated with injuries from the accidents may be too much to bear. Getting this kind of insurance can help make the load lighter regardless of the person who was responsible for the accident.
• No Fault Insurance – This is only available in about 12 states but slowly making its way to other states. This policy covers property and damages and injuries regardless of the person who was at fault for the occurrences.
• Gap Insurance – This is also one of the rare types of car insurance but a great option for the people who are still making payments for the vehicle. It has been specifically set out for drivers who are still trying to cover debt of the car and still have to pay it off in the case that the car is involved in an accident.
• Green Slip Only Coverage – Green Slip also known as CTP (Compulsory Third Party) is a basic form of vehicle insurance that protects drivers as well as car owners from legal liability of personal injury to some other parties when there has been a personal injury claim. It is however important to note that this does not cover the drivers and owners for damage to other cars or property.
• Third Party Only Coverage – This is one of the basic polices that insurance firms are more than willing to sell. It only protects other individuals should you happen to crash into them. Damage to the car when it is your fault is not covered unless there is sufficient proof that someone else will take the blame. This means that if the car is taken for joy ride or destroyed in fire you might not be able to fall through with the claim.
• Third Party, Theft and Fire – This is one of the types of car insurance that covers a lot of thing under one policy and is highly recommended for car owners to get. This gives protection to the car incase there are any fires or it is stolen.
• Fully Comprehensive Insurance – This is a very common policy among people who have just bought a car as it covers the owner regardless of who is found to be at fault. This brings about peace of mind to the policy holders especially when the car is in tip top condition.

As you shop for a car, it is also important to go through all the different types of car insurance available in the market to pick the one that works best for you. It is also vital to ensure that you find a competent and professional insurance provider so that you can get high quality services without any complications when it comes to claiming the cover when something happens.