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2 years ago · by · 0 comments

Educational Horizon : Care for your children’s future before you need to.

They say that time is horizontal. First we are born, then we start getting older. With each passing minute, we move forward in the journey of life, going past certain chronological milestones.

When we are born, we are at the infancy stage of our lives. We are cared and groomed and fed and taken care of by others. We feel like the little kings we are, and we don’t want to grow out of our diapers just yet.

Then we go through childhood, still being looked after, still little kings, although life has now started placing certain demands on us, such as to put on our clothes by ourselves, do well in school, make our beds and go to the latter when asked to. We like the autonomy that comes with it, but still prefer the carefree phase we enjoyed at infancy.

A decade down the road comes adolescence. Now, this is a stage where everything on and within us changes. We start feeling rebellious for no apparent reason and there is a great deal of exploring in which we indulge. We realize that there is a lot to be learned about the world, so we set sail to find out as much as possible. In this journey of ours, we are mostly independent, by personal choice, but there are times when we wish that somebody tucked us in at night, like when we were younger. An occasional tear may accompany our thoughts, but we make sure to quickly wipe it off our face so as to uphold our rebellious reputation.

Enter adulthood. A new era has dawned for us, one where we can drive a car, vote, open our own bank account and take out a loan to buy a house. We are now considered full-fledged adults, with all the rights and responsibilities that come with the title. One such responsibility that we set course to fulfill once we reach adulthood, is to obtain a university degree, which is nothing less than the best kind of insurance that we can take out on life itself. After all, a university degree carries the promise, if not the guarantee, of future employment. Once we are employed, then our adult life takes shape, our goals start coming to fruition, our possibilities increase exponentially. We realize that, and we are excited about going to university. We may be grown ups now, but we turn to our parents for the one thing that we need the most at this juncture, second only to their love – financial aid. They look at us with sad eyes and an even sadder heart. They knew that this time would come, eventually, but they did not plan for it. The university entry application must now be accompanied by another application; that of a student loan.

Parenthood. The greatest, most life-affirming milestone of them all. We made it to this point, having graduated from university and with a job that pays well under our belt. We live on rent, until we can manage to get a mortgage. Before that, another loan has to be paid first – our student loan, so our own house has to wait a few years. It is what it is, so we don’t spend much time crying over it. Instead, we opt to invest our time in looking deep into our babies’ beautiful eyes. They are big and crisp and innocent and they look back in puzzlement. They don’t know yet what the horizon ahead holds for them. We do.

ORIZONTAS. Care for your children’s future before you need to.

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2 years ago · by · 0 comments

The road to a Rich Retirement!

The classic image of retirement is someone sitting on a beautiful beach with his or her life-long partner — perhaps somewhere in the middle of the Mediterranean — enjoying all the financial benefits of a long and rewarding work career. For that dream to become a reality, though, you have to start planning now. Choices made early in life — as early as your 20s – have enormous implications for the size of your retirement nest egg. With that in mind, you need a road map for future success. The road to a rich retirement starts in your early 20s. You may not have reached the peak earnings of your career, but you have something else in your favour – the time value of money.

There are a number of retirement products that can take advantage of the long time horizon until retirement age. Most financial advisers recommend that young investors take a more aggressive risk/reward profile, using products such as an equity growth fund.

At an early age, your focus should be on capital appreciation, not on income.As you progress into your late 20s and early 30s, though, you can start readjusting the risk/reward profile of your investment portfolio. You also need to be keeping an eye on your overall debt levels. Be sure to pay down credit card debt, start making a dent in any student loans, and begin planning to protect any financial assets you may have. At this age, for example, you may already have a house and a growing family, and will need to take steps to protect them against potential loss.

Then, as you move into late 30s and early 40s is when you might want to hire a financial adviser to help sort out your options. At this point in life, you need to think about the right asset allocation mix and about your long-term investment strategy for a rich retirement. As you get older, you’ll want to take on a more conservative investment profile, shifting out of growth funds into balanced funds. You’ll also need to pare down your debt and spending, using any extra savings to reinvest into a pension fund or other retirement investment product.

It’s when you get into your 40s and early 50s, that you’ll really want to make sure that your investment portfolio is built for the long term. You’ll want to keep building your portfolio so that it can support as much as 30 years of retirement. Since you’re now likely in the peak period of your earnings, you’ll also want to transfer any pay raises or bonuses into your retirement savings to give them an extra lift.

Finally, as you head into retirement age and start hitting your 60s, you’ll want to make sure that you have enough cash and income for retirement. Since your work years are now most likely behind you, you may want to start thinking in terms of annuities and guaranteed cash flow streams that can support you and your spouse in retirement. As an added concern, you’ll want to make sure that any debt – especially any mortgage debt – is now under control.

With this long-term investment strategy, you’ll be well on your way to a rich retirement. If all goes according to plan, the money that you saved in your 20s and 30s will have compounded over time, giving you a stable source of cash and income later in life. And, depending on how well global financial markets are doing when you retire, you might just have enough cash to splurge on that mythical Mediterranean vacation after all.

To see how the implementation of Eurolife’s Occupational Pension Plan may benefit your organization and your employees you can contact Mr. Stathis Stasis , Certified Financial Advisor at +00357 99 531119 for a comprehensive consultation

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2 years ago · by · 0 comments

The Occupational Pension Plan and why it matters .

We have all heard of that old adage that goes “look after the pennies and the pounds will look after themselves”. The meaning behind it is that, if you start saving small amounts of money, then you will manage to accumulate a significant amount over time. This holds true for putting money in a piggy bank – when it fills up and you break it, you will be holding in your hands a lump sum. What you get is what you’ve put in. On the other hand, if you decide to put that same money in a professional investment plan, such as an Occupational Pension Plan, then it is likely that you will get all the pennies that you’ve put in, and then some, a by-product of the investment mechanism of said plan.

We spend most of our adult lives trying to make a living. We work and earn wages and provide for our families on a day-to-day basis. Do we handle our hard-earned money wisely, though? Do we put aside a certain amount each month so as to build up a nest egg that will come in handy in the future? We most certainly should, as a nest egg is what makes our years past the retirement mark golden.

Saving up for the future is very important, and such can be done voluntarily or through the organization that one works for, assuming that the latter has provided for such a savings’ infrastructure. This is where Eurolife’s Occupational Pension Plan (“EOPP”) comes into play and enables the formation of such a nest egg to become a reality.

By opting to go with EOPP, the organization puts in place a savings scheme through which both the employer and the employee can contribute a certain amount of money in the latter’s dedicated account. As the employee’s contribution will also be tax-deductible up to the amount that, together with other tax-allowable contributions such as Social Insurances, forms one sixth (1/6) of the gross annual income earned (before income tax but after any tax-allowable deductions, such as verified donations, professional subscriptions and the sort), the benefits are actually more than meet the eye.

As Warren Buffett famously said, “risk comes from not knowing what you are doing”. With EOPP, all the contributions that flow into employees’ accounts are invested through highly-knowledgeable and world-renowned investment experts, such as Goldman Sachs, J.P. Morgan, UBS and BlackRock, to name a few. And if this wasn’t enough, the employee gets to choose between a “hands on” and “hands off” approach when it comes to investing his/her funds – with the first option, he/she has a say on how the funds are invested, depending on his/her risk appetite, while with the second option, he/she leaves the management of said funds to the expert hands of the investment advisors who handle them based on the “lifestyle” option selected by the employee, again depending on risk (low, medium and high). By being “hands on”, employees are more involved with their money, while by being “hands off” they delegate this involvement to someone else, thus saving up on time, on top of doing so on money!

Opting for an EOPP as an organization has many benefits for the latter’s workforce, but what are the advantages for the organization itself? Let’s outline the most important ones:

  • Attract and retain talent – ambitious professionals that are in for the long-run seek companies that offer long-term benefits, such as a Pension Plan, and current employees are more motivated in their employment as they feel and appreciate the savings being amassed with each passing month that they are with the organization.
  • Tax-deductibility – the contributions made by the organization are deductible from the latter’s gross revenue, up to an amount equal to 10% of the gross salary of each employee.
  • Flexibility in devising and operating the EOPP – as the Plan is highly-adaptable from the get-go, the organization can choose how best to design it by gauging a plethora of parameters so as to meet the desired goals.
  • Prestige – having a Pension Plan in place sends all the right signals to the market; that you care about your employees by looking out for their future and the financial security embedded in it.

When all is said and done, having a Pension Plan in place is a prerequisite to maintaining a highly-motivated and committed workforce; that extra benefit that will persuade your employees to go the extra mile for the organization. And, extra, pays off in the end. It always does.

Be the organization with that certain extra, not the one without it.

To see how the implementation of EuroLife’s Occupational Pension Plan may benefit your organization and your employees you can contact Mr. Stathis Stasis, Business Insurance Advisor, at 99-531119 for a comprehensive consultation.

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2 years ago · by · 0 comments

Directors and Officers liability Insurance

The participation in a Director’s Board of a company or organization is not only a title associated with rights. There are also responsibilities and these can cost you greatly.

The legal business framework is becoming increasingly severe, with greater obligations and controls. Today, the directors and officers of each company are exposed to lawsuits/claims against them, or even to fines from the authorities.

The Directors and Officers liability Insurance covers them against claims by third parties, such as customers, shareholders, regulators, suppliers, employees, etc. It covers even the fees of external consultants for the defense of the directors and/or executives, and penalties or settlements provided under the condition that there was no fault or willfull misrepresentation of their own. Errors and negligence occur in any company. Often, executives, managers and the Board members are asked to make decisions under adverse conditions such as:

– Time restraints

– Intense competition

– Restricted information

– Strict regulatory environment etc.

Good intentions will not save the company in case of law suits, especially in the recent years, when the economic crisis led many companies into bankruptcy. This had the effect of considerably increasing the number of lawsuits against directors and executives.

The reasons of the lawsuits were many, such as:

– Mismanagement

– Errors and negligence

– Fall in the share price

– Overspending

– Incorrect assessments etc.

Based on the above, the Directors and Officers insurance is an important protection tool for any modern company that respects itself.

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2 years ago · by · 0 comments

Planning for Retirement Today.

The classic image of retirement is someone sitting on a beautiful beach with his or her life-long partner — perhaps somewhere in the middle of the Mediterranean — enjoying all the financial benefits of a long and rewarding work career. For that dream to become a reality, though, you have to start planning now. Choices made early in life — as early as your 20s – have enormous implications for the size of your retirement nest egg.With that in mind, you need a road map for future success. The road to a rich retirement starts in your early 20s. You may not have reached the peak earnings of your career, but you have something else in your favor – the time value of money.

There are a number of retirement products that can take advantage of the long time horizon until retirement age. Most financial advisers recommend that young investors take a more aggressive risk/reward profile, using products such as an equity growth fund.

At an early age, your focus should be on capital appreciation, not on income.As you progress into your late 20s and early 30s, though, you can start readjusting the risk/reward profile of your investment portfolio. You also need to be keeping an eye on your overall debt levels. Be sure to pay down credit card debt, start making a dent in any student loans, and begin planning to protect any financial assets you may have. At this age, for example, you may already have a house and a growing family, and will need to take steps to protect them against potential loss.

Then, as you move into late 30s and early 40s is when you might want to hire a financial adviser to help sort out your options. At this point in life, you need to think about the right asset allocation mix and about your long-term investment strategy for a rich retirement. As you get older, you’ll want to take on a more conservative investment profile, shifting out of growth funds into balanced funds. You’ll also need to pare down your debt and spending, using any extra savings to reinvest into a pension fund or other retirement investment product.

It’s when you get into your 40s and early 50s, that you’ll really want to make sure that your investment portfolio is built for the long term. You’ll want to keep building your portfolio so that it can support as much as 30 years of retirement. Since you’re now likely in the peak period of your earnings, you’ll also want to transfer any pay raises or bonuses into your retirement savings to give them an extra lift.

Finally, as you head into retirement age and start hitting your 60s, you’ll want to make sure that you have enough cash and income for retirement. Since your work years are now most likely behind you, you may want to start thinking in terms of annuities and guaranteed cash flow streams that can support you and your spouse in retirement. As an added concern, you’ll want to make sure that any debt – especially any mortgage debt – is now under control.

With this long-term investment strategy, you’ll be well on your way to a rich retirement. If all goes according to plan, the money that you saved in your 20s and 30s will have compounded over time, giving you a stable source of cash and income later in life. And, depending on how well global financial markets are doing when you retire, you might just have enough cash to splurge on that mythical Mediterranean vacation after all!

For more information on Pension plans and a Bespoke Life Needs Analysis you may contact me directly.

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2 years ago · by · 0 comments

Life as We Know It !

A long time ago, in Ancient Greece, there lived a great philosopher that went by the name of Heraclitus. Among the many philosophical theories that he devised, one in particular stands out; that ever-present change is the fundamental essence of the universe. He believed that, the only constant thing in life is change, that no man can step into the same river twice, that “everything flows” (“τα πάντα ρει”).

Heraclitus couldn’t be closer to the truth. What held true then, in Ancient Greece, still holds true today, in the modern world. From the day we are born until the day our life journey comes to an end, we experience one change after another – we switch jobs, some new people come to our life while others depart from it, our children have a change of heart and decide that they don’t want to study accountancy when they grow up but architecture instead, and the tuition fees have now moved up to €100.000 from the originally-estimated €30.000. Change is an essential ingredient of life, so present in the latter as oxygen itself.

So, what do we do about change, how do we tackle it? First, we plan for it. We anticipate it. We refuse to let it catch us by surprise. Then we take action. We put safeguards in place, so that, when change comes, we are prepared to embrace it rather than fear it.

Planning can be very effective when done correctly. We may not be able to predict the future and the Delphi Oracle is no longer at our disposal for rendering prognostication services, however there are certain things that we can do so as to ensure that our future, although unpredictable, it will hold rays of sunlight and not drops of rain when it comes about.

The key to good and effective planning is to have a thorough understanding of your needs, current and future. A detailed assessment of these needs will indicate what you will be required to do now so as to arrive at a future that you commanded, not the other way around.

But what about our ever-changing world; the one which, according to Heraclitus, constantly flows? If the action that we take at a given juncture is based on our future needs as such are perceived today, then what about tomorrow, when the current of the river has changed? This is where good planning comes into play, as such is dynamic, proactive, and changes with every change.

Enter “Life Needs”, Eurolife’s newest life analysis protocol. In today’s ever-changing world, insurance may be the single most effective method of securing your future (second only to a time machine), by removing a great deal of uncertainty from it. Whether it be life insurance, pension planning or your children’s college fund, the “Life Needs” analysis takes into account every single parameter in your life equation and produces personalized recommendations for all your insurance plans, so as to enable you to take the best course of action today that will lead to the tomorrow that you have imagined. And, in the not-so-rare case that your circumstances change and life takes a different turn than the one you had in mind, the frequency with which the analysis is carried out (at least once a year, or even sooner if the client so wishes) ensures that no detail is too minute to be spared; no need too insignificant to be left unattended. Everything is accounted for, down to the last worry.

With “Life Needs”, your insurance plans are modeled after your personal needs; your tomorrow is reverse-engineered with a view to devising the actions of today.

“Life Needs” enables you to continue living life as you have come to know it.

Think of it as future-proofing your life.

For more information on insurance plans and a Bespoke Life Needs analysis tailor- made to your personal needs and goals you may contact me by Linked in or at +357 99531119.

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2 years ago · by · 0 comments

The Value of Life Insurance for Business Continuation

At some point, every small business owner needs to consider what would happen to both their family and their business if something unexpected and tragic were to happen to them. When you’ve invested a significant part of your life in the creation and growth of a business, these concerns are especially paramount.

That’s why taking out a life insurance policy for business continuation is so critically important – it’s the best possible answer to the question that nobody wants to ask: “What happens to my business if I can no longer run it?”

If you die or become disabled, life insurance for business continuation ensures that you can protect both your family and the employees at your business who depend on you for income and stability.

Life insurance for business continuation ensures that you can cope with all the unforeseen hardships and cover all the eventualities,” according to Stathis Stasis, a Business Insurance Advisor at EuroLife Ltd in Nicosia, Cyprus. “It’s an easy decision for anyone who’s serious about protecting the value of a business,” he says.

When it comes to business continuity, three are different types of insurance policies available, but individual life insurance is easily the most important –and most popular – option. Any individual life insurance policy for business continuation will provide funds to cover current debts, ongoing living expenses and future operating plans of the business.

Here’s one scenario – a dynamic entrepreneur creates and launches a successful new business and uses debt or bank loans to grow that business. In the process, he or she becomes the face of the business at industry events, helping to shape the management of the organization and playing a major role in bringing in new clients. His or her name may even be part of the company’s name. Everything seems to be working out well but overnight, tragedy hits and the next day, the company’s leadership and employeesare left to pick up the pieces.

That scenario is actually more common than you might think, says Stathis Stasis of EuroLife. That’s because many businesses rely primarily by one person for their success, under the common assumption that the business will be passed on to other family members after retirement. But that’s not always the case – other family members may not be willing or able to handle the functioning of the business, and some businesses require the company’s founder for maintaining client relationships and managing complex stakeholder interests. As a result, the value of that business can shrivel overnight – and trying to sell that business at fire sale prices could result in a much lower sale price than expected.

For that reason, it’s best to consider life insurance for business continuation. It’s the best way to protect people you love and work with, ensure their future, and protect what you’ve built over a lifetime of hard work. You will be ensuring not just the continuity of your business, but also the continuity of all the individuals who rely on your business for their livelihood.

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2 years ago · by · 0 comments

EuroLife takes steps forward !

“See life again” with EuroLife

Throughout its 28-year presence in the Cypriot market, EuroLife has been building relationships with the aim of supporting its customers and make them feel safe at all times. EuroLife is taking steps forward in order to cater to the needs and desires of modern lifestyles, by providing the necessary support and flexibility, and offering a new, fresh approach to life insurance.

The new “See life again” slogan encourages, empowers and advises everyone to review and examine their life needs. It also aims to make people feel confident that EuroLife has the flexibility, power and ability to provide support in every step. By offering flexible plans that are designed and tailored to everyone’s needs, and a professional sales network that is ready to provide comprehensive solutions, the slogan urges people to be daring and live what they desire, with EuroLife supporting them in every choice they make.

EuroLife is portrayed as ready to welcome new challenges and respond to the ever-changing demands of its customers. By investing in all levels of its operations –infrastructure, services and people–, it creates a new, modern and unique experience for its customers. By introducing a fresh approach with new offices and a new television campaign, it invites the public to take a deep breath of optimism and dream the future with self-confidence. It is an open invitation to everyone to focus on what is of worth in their lives. To “see life again”.

Digital upgrade on multiple levels to respond to new technological challenges

With digital revolution and globalization changing the face of services, customer service and competition, EuroLife understands that customers are always connected and demand more transparency, personalized plans and active involvement in plan design.

When it comes to technology, 2017 marks a turning point for the Company. EuroLife has made significant changes to both its infrastructure and software; in turn, these changes have allowed the Company to provide upgraded services to its insurance network and customers by processing data online and in real time, 24 hours a day, 7 days a week.

Further, EuroLife has also upgraded its website by offering a fresh, customer-centric approach and launching the myeurolife online platform. myeurolife offers personal and reliable service relating to its clients’ insurance policies. The Company is also developing digital tools such as “Lifeneeds”. “Lifeneeds” is a digital sales tool with countless choices and enables the company’s insurance consultants to provide quality solutions based on the specific needs of their customers.

In addition to social media presence, EuroLife is now even more reachable through its Facebook and LinkedIn pages.

 

For EuroLife, an Insurance Consultant is a Life Consultant

EuroLife is strategically working towards the professional advancement of its insurance consultants. The company aims to help maintain the consultants’ high standard of training by offering them all the necessary tools, plans, infrastructure, services and communication support. It also aims to provide an upgraded environment which offers security and quality, so that they can carry out a job that offers personal and professional fulfillment; to be better trained so that they can offer plans that are tailored to everyone’s unique needs; and to be their clients’ consultants for a lifetime.

Corporate Social Responsibility: Prevention

“Prevention is not a figure of speech, it’s a way of life.”

With the Corporate Social Responsibility program high on its agenda, EuroLife has launched activities aimed at educating and training the public on issues such as nutrition, sports, health and the environment. By using the slogan: “Prevention is not a figure of speech, it’s a way of life”, the company supports actions and programs that raise public awareness and stress the importance of providing timely information to promote longevity and wellbeing. To implement these programs, EuroLife cooperates with Cymepa NGO, Bone Vivo NGO, the Cyprus Cycling Federation, the University of Cyprus and the Ministry of Education and Culture.

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2 years ago · by · 0 comments

The value of your insurance policy

Your insurance policy is an important asset because:

1. It protects your family In case of death.

2. By selecting supplementary premiums, you have the opportunity to respond to serious illness, disability, loss of income and other hazards.

3. There are insurance policies that combine both coverage and savings. You can thus experience unplanned financial obligations which may cause disruption in your personal or family budget. The same plans can also ensure your financial independence when you are old.

4. Your insurance policy can be used as collateral against financial liabilities. For example, you can assign it to a financial institution.

It is important to keep your insurance policy:

1. Securing insurability

Insurability is a person’s ability to buy insurance. The Insurance Policy you currently hold in your hands shows that you have been accepted as insurable for the mentioned coverage amounts, irrespective of the fact that your health conditions may have in the meantime changed to the point that you cannot secure new insurance coverage today. If for any reason you wish to terminate your Insurance Policy, first ensure that you are insurable.

2. Claiming a tax deduction

Τhe state encourages private insurance, and provides tax deductibility as an incentive. Under current laws, this incentive can reach up to 35% of the insurance premium.

3. Loss of tax exemption in case of cancelation

In case of cancelation of a life insurance policy within six years from its date of issue, a percentage of the premiums that were granted as a discount will be taxed as follows:

  • Cancelation within 3 years: 30%
  • Cancelation from 4 to 6 years: 20%

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Take care of your child

Insurances for
your child's future

Curabitur iaculis ante a nibh vulputate sollicitudin.

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Stathis Stassi

Andrea Hadjitheory
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(+357) 22000000

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Top Financial Priorities in the next 5 years

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Certified Financial & Insurance Advisor
Stathis P. Stasis

Evrou 4 , 2003 , Strovolos

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