Tag: Disadvantages

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If you’re thinking of buying a home but don’t want to deal with the hassle of maintaining a yard, paying for repairs, shoveling snow, and cutting the grass, you may want to consider buying a Condominium. A condominium is similar to an apartment except for one main difference, instead of paying rent, you own the property. The difference is purely legal, as in, you own the property, and share the common areas with others. Well technically you only own the air space within the boundaries in the property, and can modify the interior to your liking. But it’s still the same as owning your own home, with the added benefits of less maintenance.

What’s the advantages and disadvantages of owning a condominium?

Cheaper – Condos are usually cheaper then a comparable stand alone single family property. If you wanted a 2,000 square foot home, you would most likely pay 20-30% less if you bought a condo. Disadvantage? Well, your neighbors are usually really close, like as in, a walls thickness away. Depending on how well built the condo is, this may or may not effect you. Some condos you may hear your neighbors, others are built sound proof, and having close neighbors won’t effect your noise level at all.

Less Maintenance – The best advantage of owning a condo is having a almost maintenance free property. Most condos are maintained on the outside, which means no more shoveling snow, mowing the lawns, and repairing things like siding or shingles. Disadvantage? There is usually a Homeowners Association fee (HOA) that you are required to pay. Most HOA fees are reasonable, and are there to keep your property managers paid to keep the maintenance activities well maintained. These fees can be anywhere from $50 to a couple hundred dollars a month. It all depends on what has to be maintained.

Common Areas – Most condominiums come with the added benefit of swimming pools, tennis courts, a small park, kids playground, workout centers, or many other amenities. The cost to maintain these amenities yourself could be enormous, but they are usually included in your HOA fees. Disadvantage? I can’t think of many, other then the HOA fee, who doesn’t like a pool? This is probably one of the major benefits of living in a condominium, the cost of owning one of these amenities in a stand alone environment can be costly to say the least.

Safer – There are a lot of condo complexes that have gated communities, or other security measures to keep you safe. In larger cities, you may have to push a button to be let into the complex, this is a great way to be safe. You also have a lot more neighbors that are closer, and will be more adept to watching the premise, which is good if you are going on vacation.

Disadvantages There are disadvantages to owning a condo, one of which is the proximity of your neighbors. Most condos are built with a common wall, which means you will be sharing at least one wall with a neighbor, if not more, and this could prove to a be a noisy environment. Another disadvantage would be parking, most condos come with limited parking as you have to share the space with your neighbors. You may also not be able to park close to roads, or on roads, which increases the limits involved with parking.

There are many advantages and disadvantage to owning owning a condominium, and only you can decide if buying a condo is right for you. After reading this article, you should have a better understanding of both sides, and I hope you can make a more informed decision as to what is going to work for you.

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Source by Lisa Udy

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In this article we will explore the reasons that motivate employers to get group health insurance for employees and we will look at the advantages and disadvantages from both points of view.

Group Health Insurance VS Individual Private Health Insurance

Probably the most significant distinguishing characteristic of group insurance is the substitution of group underwriting for individual underwriting. In group cases, no individual evidence of insurability is usually required, and benefit levels can be substantial, with few, if any, important limitations.

Group underwriting normally is not concerned with the health or other insurability aspects of any particular individual. Instead, it aims to obtain a group of individual lives or, what is even more important, an aggregation of such groups of lives that will yield a predictable rate of mortality or morbidity. If a sufficient number of groups of lives is obtained, and if these groups are reasonably homogeneous in nature, then the mortality or morbidity rate will be predictable. The point is that the group becomes the unit of underwriting, and insurance principles may be applied to it just as in the case of the individual. To assure that the groups obtained will be reasonably homogeneous, the underwriting process in group insurance aims to control adverse selection by individuals within a group.

In underwriting group insurance, then, certain important features should be present that either are inherent in the nature of the group itself or may be applied in a positive way to avoid serious adverse selection such as:

Insurance Incidental to the Group: The insurance should be incidental to the group; that is, the members of the group should have come together for some purpose other than to obtain insurance. For example, the group insurance furnished to the employees of a given employer must not be the feature that motivates the formation and existence of the group.

Flow of Persons through the Group: There should be a steady flow of persons through the group; that is, there must be an influx of new young lives into the group and an out flow from the group of the older and impaired lives. With groups of actively working employees, it may be assumed that they are in average health.

Automatic Determination of Benefits: Group insurance underwriting commonly requires an automatic basis for determining the amount of benefits on individual lives, which is beyond the control of the employer or employees. If the amount of benefits taken were completely optional, it would be possible to select against the insurer because those in poor health would tend to insure heavily and the healthy ones might tend to elect minimum coverage.

As the group mechanism has evolved, however, insurers have responded to demands from the marketplace, particularly large employers, for more flexibility in the selection of benefits. This flexibility typically is expressed in optional amounts of life and health insurance in excess of basic coverage provided by the employer and in more health care financing choices. Also, increasingly popular cafeteria plans allow participating employees to select among an array of benefits using a predetermined allowance of employer funds. Individuals select, subject to certain basic coverage’s being required, a combination of benefits that best meet his or her individual needs.

Minimum Participation by the Group: Another underwriting control is the requirement that substantially all eligible persons in a given group be covered by insurance. In plans in which the employee pays a portion of the premium (contributory), generally at least 75 percent of the eligible employees must join the plan if coverage is to be effective. In the case of noncontributory plans, 100 percent participation is required. By covering a large proportion of a given group, the insurance company gains a safeguard against an undue proportion of substandard lives. In cases in which employees refuse the insurance for religious or other reasons that do not involve any elements of selection, this rule is relaxed.

Third Party Sharing of Cost: A portion of the cost of a group plan ideally should be borne by the employer or some third party, such as a labor union or trade association. The noncontributory employer-pay-all plan is simple, and it gives the employer full control over the plan. It …

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Garmin Forerunner 305 GPS watch is a bit less modern compared to other models of Garmin GPS running watches. However, it is still considered as one of the best because of the features that it offers. Aside from the features that this Garmin GPS running watch offers, it is also much cheaper compared to other watches because it is a bit older. This makes the watch worth more than its price, and is one of the reasons why it is still preferred by a lot of people.

One of the disadvantages that this running watch has is the design. It is a bit bulky compared to the latter models of Garmin GPS running watches, which can cause distraction for some people. However, it can offer a wider view of the surrounding environment compared to other watches, which makes it preferable for people who love using GPS trackers.

Although it is water proof, using this watch for swimming is not advisable. There are a lot of things that you need to consider before using this watch, and you need to know these things because it will help you determine whether the watch will be able to give you the things that you are expecting or not.

Garmin Forerunner 305 GPS watch has large and easy-push buttons which will allow you to easily operate the watch even while training. Keep in mind that this is one of the most important things that you need to consider, especially if you are going to train by yourself. You need to time every segment of the lap, and if you are going to use a GPS watch that doesn’t have large easy-push buttons, then you will be having problems with using it.

Although the Garmin Forerunner 305 GPS watch is said to be one of the best running watches today, you cannot simply buy it instantly. Keep in mind that different runners require different features and if you really want to improve your overall performance, you need to choose the one that can provide everything that you need. There are a lot of different options that you can take, and with the help of the Internet, finding the one that will really help you with your training is not that hard.

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Source by Adam Hefner

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