debt protection insurance This is a topic that many people are looking for. khurak.net is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, khurak.net would like to introduce to you Is Credit Card Insurance Worth It?. Following along are instructions in the video below:
“Guys welcome to another video for total debt freedom today. We re going to be be talking about credit card insurance. And whether or not it s worth it so often have conversations with our customers about their standing. When they get in the program.
And it s not that uncommon for people to subscribe to the offer that credit card companies always make to people which is credit card insurance and the offer sounds very attractive insurance. Generally is a crutch people want to lean on that they think they ll have access to should they ever need it and you d expect to be able to access to it should you ever need it. Although. The truth of the matter is it s not nearly as close as the reality.
The way the general works is they ll is open to you like this look if you sign up for this insurance policy or this credit card insurance. If you lose your job. We ll be making the payments for you that s that s kind of the overview of 20000. Feet.
If they re looking down at the offer no the paperwork that follows at the lines of paperwork that the banks and credit card companies lawyers put together which deal with all the disclosures is you have to jump through a lot of hoops to get the insurance to pay out there s certain criteria that needs to be met it has to be either a medical condition. A job layoff and injury workman s comp. Something like that so for example. If you quit your job.
More often than not the insurance doesn t cover it and again the other limitation that s in that area is going to be it s usually only for about six months. So it s for a short period of time now the cost of the insurance. I ve seen it anywhere from a few dollars per statement recently to as much as a hundred and fifty four dollars on a five thousand dollar balance. Now let me just put that in perspective for a minute.
Let s say you owe five thousand dollars in credit card debt. And you re paying a hundred and fifty four dollars a month to insure that credit card debt you re paying to insure a debt..
It s not an asset. It has no value to you can t trade it nothing. It s it s it s a colossal waste of money you know we use insurance for things like home for content insurance for fire and theft you know vehicle collision things like that if you have a vehicle that that you ve paid for let s say. It s worth fifteen thousand dollars.
And you re insuring a vehicle. Fifteen thousand dollars. I know myself i pay a lot less than that per month to ensure my vehicle and that s an asset if i want to do something with it to liquidate. It to sell it i can use that and get access to the cash.
So i m paying to insure something that has some value why anybody would pay to insure a debt is beyond me so in this video. The whole point of at the end of the story the moral of the story is credit card insurance is in my opinion a colossal waste of money. There s far better things you could be doing with the money then throwing it out insurance hoping that or maybe expecting one day should you get laid off or you get sick and you can t work for a period of time that they re going to make your minimum monthly payments. That s the best case scenario.
The policy pays out they make payments for several months until you get back on your feet. And then you can resume doing what you re doing now at the end of the day. If you re struggling with debt. And you re not paying off the balances.
And you re not seeing that balances go go down. Like you have that pain for a period of time. And what you re doing isn t working. There s things you can do which do work we offer programs here that help you negotiate the debt.
I ll leave a link in the description below should you like to inquire and get a consultation to learn more about how it works. But again morel the story is don t waste your time or money on credit card insurance when they offer it to you my recommendation is decline..
I have not had credit card insurance ever save your time and money don t do that if you got a debt a balance with debt and it s not getting paid down to get help do something about if what you re doing isn t working hit the link below see you guys later in the next video peace out. the origin doesn t change when the red dotted line rotates when we project the point onto the line. We get a right angle between the black dotted line and the red dotted line that means that if we label the sides like this a b and c. Then we can use the pythagorean theorem to show how b and c are inversely related since a and thus a squared doesn t change if b gets bigger.
Then c must get smaller likewise if c gets bigger. Then b must get smaller thus pca can either minimize the distance to the line or maximize the distance from the projected point to the origin. The reason. I m making such a fuss about this is that intuitively it makes sense to minimize b and the distance from the point to the line.
But it s actually easier to calculate c the distance from the projected point to the origin. So pca finds the best fitting line by maximizing. The sum of the squared distances from the projected points to the origin so for this line pca projects. The data onto it and then measures the distance from this point to the origin.
Let s call it d sub1 note. I m going to keep track of the distance as we measure up here and then pca measures the distance from this point to the origin we ll call that d 2 then it measures d3 d4 d5 and d6 here are all six distances that we measured the next thing we do is square all of them the distances are squared so that negative values don t cancel out positive values. Then we sum up all these squared distances. And that equals the sum of the squared distances for short.
We ll call this ss distances or sum of squared distances. Now we rotate the line project. The data onto the line and then sum up the squared distances from the projected points to the origin and we repeat until we end up with the line with the largest sum of square distances between the projected points and the origin ultimately we end up with this line. It has the largest sum of squared distances.
This line is called principal. Component one or..
Pc one for short. Pc one has a slope of 025. In other words for every four units that we go out along the gene. 1 axis.
We go up one unit along the gene to access that means that the data are mostly spread out along the gene. One axis and only a little bit spread out along the gene to access one way to think about pc. One is in terms of a cocktail recipe to make pc. One mix four parts gene.
One with one part gene to pour over ice and serve the ratio of gene. 1 gene tells you that gene. 1 is more important when it comes to describing how the data are spread out. Oh.
No terminology alert. Mathematicians. Call. This cocktail recipe a linear combination of genes.
1 2. I mention this because when someone says pc 1 is a linear combination of variables. This is what they re talking about it s no big deal the recipe for pc. One going over 4 and up 1 gets us to this point.
We can solve for the length of the red line using the pythagorean theorem the old a squared equals b. Squared plus c..
Squared plugging in the numbers gives us a equals four point. One. Two. So.
The length of the red line is four point one two when you do pca with svd. The recipe for pc. One is scaled so that this length equals one all we have to do to scale. The triangle.
So that the red line is one unit. Long is to divide each side by four point one two for those of you keeping score here s the math worked out that shows that all we need to do is divide all three sides by four point one two here are the scaled values the new values change our recipe. But the ratio is the same. We still use four times as much gene.
One as gene two so now we are back to looking at the data. The best fitting line and the unit vector that we just calculated. Oh no another terminology alert this one. Unit.
Long vector consisting of. 097 parts gene one and 024. Two parts gene. Two is called the singular vector or the eigenvector for pc.
One and the proportions of each gene are called loading scores also while i m at it ” ..
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