Personal Finance Organization

A personal finance organization by definition looks after the provision of finance to individuals on a personal basis. Over the years many a personal finance organization has looked after the various financial needs of individuals like helping them with retirement solutions, educational loans and so on.
The personal finance organizations are able to implement the principles of personal finance to help individuals with a wide variety of monetary problems. They also play a very important role with regard to financial decision-making by individuals.

The services of personal finance organizations are also helpful for the households. It has been observed that individuals often take personal loans that are used to solve the financial problems of the families.

Some of the leading personal finance organizations are as follows:
American Express
HSBC
Prudential
Tesco
GE Money
Merill Lynch

The personal finance companies also act as mediators of financial services offering a lot of insurance services like the following:
Life Insurance
Annuities
Long Term Care Insurance
Whole Life Insurance

The life insurance services can again be divided into the following subcategories:
Term life insurance
Variable life insurance
Permanent life insurance
Survivorship life insurance
Universal life insurance

The main advantage of the whole life insurance plans is that the insured person has prior knowledge of the premiums that he needs to pay in a month. The insured is thus able to tailor his financial plans accordingly. The long-term care insurance schemes are costly.

The four kinds of annuities that are available in the global financial market include:
Fixed annuities
Modified guaranteed annuities
Immediate income annuities
Variable annuities

The main advantage of the whole life insurance plans is that the insured person has prior knowledge of the premiums that he needs to pay in a month. The insured is thus able to tailor his financial plans accordingly. The long-term care insurance schemes are costly.

The four kinds of annuities that are available in the global financial market include:

  • Fixed annuities
  • Modified guaranteed annuities
  • Immediate income annuities
  • Variable annuities

The personal finance service providers furnish their clients with educational programs that are extremely necessary before any individual decides on making some kind of investment.

The various types of educational programs on investment are as follows:

  • Managed Money
  • Real Estate
  • Retirement Accounts

 

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Last Updated on : 1st August 2013