Sponsorship in Sport is a huge market world over. It takes variety of forms and mode like electronic media, print media, social media, internet, inside and around playing facility, sports man as brand ambassador or being made part of commercials, on clothing and accessories of player, etc. As player have a huge fan following, it type of advertisement not has the reach but also carries a hidden endorsement also facilitating promotion of sports which is a healthy avenue for any society. For some tournaments or events the competition is so high that only via bid the selection of the advertiser is done. However, it pays off for the companies given the reach and impact it creates. Conversely, the game is also a beneficiary in this case and it is even better if this helps in improvement of infrastructure and monetary benefits to the players. If players get their share of money it is very conducive for the game as most of the players take this as their profession and therefore, this helps them in their survival and earning bread and butter.
Life insurance is a product offered by insurer whereby it agrees to pay the beneficiary(ies) designated by the insured person a specific sum of money on death of the insured person or on other agreed occasions. And accordingly a policy is written. The insured person has to annual or lump sum premiums. This gives a sense of comfort to the insured person that in case he is no more there in the world his loved one get compensated in form of money and as such financial burden may somewhat decrease. These products are offered by various insurers in each country. The premium rates may be negotiable in various cases. Some employers also provide this benefit to their eligible employees by procuring this product directly from insurer for the employees. So the employers pay the premiums and since this is bulk purchase and being negotiated by a company, the premium rate is quite good.
Financial Planning has become an imperative in this modern day living. As they say failing to plan is a preparation to fail. The needs of the individuals and his dependents vary accordingly to his background, culture, vision and lifestyle. For instance, he has to plan the financial aspects for his retirement days, marriage of his daughters in certain countries, studies of his off spring, and the like. Various insurers offer solution oriented products in these cases. Most of the products encompass periodical premiums which accumulate to a handsome at the end of the annuity period. Tax structuring though ignored at individual levels is very beneficial in the long run as a dollar saved today is like a 100 dollars after ten years or so. Other avenues are decided by an individual according to his future requirements. For instance if he wants to purchase a house after say ten years he will have to say go through a mortgage type of product or may have to explore investment avenues conceived in a way that it leads to handsome sum of money when he needs it. In nutshell individuals should endeavor to put in mind their future monetary needs so that when the time comes lack of finance should not become an impediment for a bigger cause.
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Andy Robert is a reputed insurance agent and has been working in the Insurance industry for the last five years. He has worked as a consultant with a number of reputed financial institutions and Life insurance companies in UAE and has extensive experience in Medical related insurance, Property Insurance & especially Sponsorship in Sport and all the latest development in Insurance industry trends.
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