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It’s a well-known fact that smoking causes an adverse effect on your health. You must have seen the warning message on all cigarette boxes – ‘Smoking is injurious to health’. Smoking tobacco is a root cause of 30% of all cancer deaths and causes 16 times higher risk of heart attack.There are almost 120 million smokers in India. As per World Health Organization, India accommodates around 12% of the world’s smoking population. The number of men smoking tobacco has increased from 78 million in year 1998 to 108 million in the year 2015. Tobacco consumption is accountable for the death of 6 million people each year. Direct tobacco consumption accounts for over 5 million deaths and 0.6 million deaths are due to exposure to second-hand smoke. Considering serious public health risks, the Government has banned smoking in public places from 2nd October, 2008.Not only your health, it also causes you to pay higher premiums for a health insurance policy, due to increased health risks and shorter life expectancy. A nonsmoker however, gets premium discounts as a reward to lead a healthy lifestyle. Being a smoker, it is advisable not to hide your smoking habit from your health insurance company, as it helps you to cover the smoking-related health issues.There is a wide curiosity among people, how smoking impacts the health insurance and its cost. Let’s educate yourself about smoking and its impact on health insurance policy.Smoking – What It IncludesSmoking includes inhalation of of the smoke of burning tobacco in the form of cigarettes, cigars and beedi. Whether you are an occasional smoker or frequent smoker, you will be considered as a smoker under the health insurance policy.Smokers can buy health insurance, however an insurance company may charge extra premium or reject your application for insurance, depending on the number of cigarettes you smoke on a regular basis. A smoker may also have to go through additional health check-ups that can help an insurance company to ascertain the risk factor and then charge the premium amount accordingly.How Smoking Affects Your Health and Insurance PremiumSmoking makes the serious impact on your health, some of them are detailed below.Circulatory System: Smoking results in increased risk in the heartache and blood pressure. Building up of fatty acids could resulting to atherosclerosis.Immune System: Smoking results in severe and long lasting illnesses. Smokers are more prone to develop ulcers, cancer, pneumonia, high blood pressure, bronchitis, and other viral/bacterial/fungal infections.Respiratory System: Smoking may damage lung functions and breathlessness. It may cause damage to the air sacs of the lungs, increased chance of developing chronic bronchitis.Oral Health: Smoking can lead to tooth loss, tooth staining, gum disease which may increase the risk of tooth decay.Cancer: Smoking for a long time also causes cancer to various body organs.When it comes to a health insurance policy, an insurance company considers the magnitude of illnesses and deaths caused due to smoking and that’s why, smokers need to pay higher premiums to avail health insurance cover. Typically, the insurance companies charge around 15 to 20 percent higher from a smoker policyholder. Those who smoke would need to undergo additional medical checks, before the insurer issues you the policy.Let’s understand the difference of premium between a smoker and non-smoker individual.Ritesh (non-smoker) at 30 years of age buys an individual health plan with Rs 5 Lacs coverage, for 1 year policy term, the chargeable annual premium amount is Rs 4,656. However, Raj (smoker) is buying an individual health plan, he is charged with an annual premium amount of Rs 7,552. An increase in premium amount is only due to the fact that Ansh lies in the smoker category of premium. We can see Raj is paying Rs 2896 extra on account of smoking.Smoker with Existing Health ProblemsIf you are a frequent smoker that has caused the symptoms of the declining health condition and getting puzzled whether you can get a health insurance. The answer is yes, the only thing required is to make honest and proper disclosures.The insurance company will then assess the risk associated with your profile and then decide on terms & conditions and the premium to be charged for providing you a health cover. The premiums charged will be higher and a waiting period will be applied for covering your pre-existing diseases. Moreover, if you are seeking an immediate coverage on your deteriorating health condition, you may go for a critical illness policy.Conclusion:Smoking makes an adverse impact on your health and your health insurance policy as well. An insurance company will charge you a higher premium in proportion to the risk associated in providing a health cover. An important point to note that you should disclose all relevant information regarding your health and smoking habits. In case, you are found hiding or providing fake information, the insurance company may decline in settling the claims.

Many small business owners struggle with obtaining business finance, and there is absolutely nothing unusual about this. Getting a business loan for small businesses, such as retailers, restaurants, garages and so on, is not as simple as one would think from the bank.This is not to say however, that getting a business loan is not possible. It all depends on where one goes looking for the loan. Typically, there are two primary options that business owners have, approaching their local banks and going to a private funder or lender.Banks and small business loansBanks look at applications for small business loans from their perspective and their perspective is determined by their criteria. When we speak of criteria, there are numerous criteria and these are all non-flexible as well as stringent.Typically, banks require high credit scores, which should be around about 700 or over. If a business applying for a loan with the bank lacks excellent credit, their application will be rejected simply based on that one criteria. In conclusion to banks and credit scores, business funding with bad credit with a bank is not a possibility.This is not to say that there are not a number of other criteria, which banks follow carefully and take equally seriously as well. The criteria of banks have been established over the decades based on shared experience, and these criteria are across the board.As is generally acknowledged, banks are not very keen on funding small business loans. The reasons for this are many and one of the primary reasons is that, small businesses are considered to be high risk investments from the banks perspective and experience.Private funders and small business loansWith a private lender the situation is completely different from what a business owner will experience with a bank. Private lenders have a completely different list of criteria to provide cash advance for business owners.As private lenders primarily offer MCA (Merchant Cash Advances), the criteria for these is simple. An MCA loan is an unsecured loan, and does not require high credit scores either. As a result it’s easy to qualify for this kind of funding.However, many a small business owners don’t look upon MCAs from a friendly perspective, and they do have their reasons. The interest rates are higher than traditional bank loans, and most business owners want low interest rates.The point with MCAs is however not to compete with bank financing, as they are both in quite different arenas. Apart from the fact that they are both financing for businesses, the entire process, requirements, features and all other details related to the funding are completely different.With an MCA loan the question how to qualify for small business loans does not really apply. Only in very few cases are small businesses turned away by private lenders. Generally, most businesses receive the funding they require for their business.MCA loans V/S bank loansMerchant cash advances or MCA in short are generally accompanied with high interest rates. Far higher than what the bank provides, and the reason for this is these are unsecured short term loans.There are many businesses who would never qualify for a traditional bank loan, regardless of how badly they need it or want it. If their credit scores are low, or if they are unable to provide the collateral the banks require their applications will be rejected. This is not to say that there are not a lot of other grounds on which small business loan applications are not declined by banks. Also, banks are under not obligation to provide funding to those they choose not to. This leaves many small business with no other option.For an MCA loan a business requires nothing much in the way of credit scores and collateral. The basic criteria for an MCA loan is mentioned here, as follows. The business should be at least 12 months old and a running business. The owner of the business should not be in active bankruptcy at the time of the loan application. Finally, the gross income of the business needs to be at least $10 thousand a month.The easy criteria makes it simple to obtain an MCA, and the drawbacks are definitely the interest rates and the duration for some business owners. However, those who capitalize on such business funding are those business who either have no choice, or those who require quick business loans. Some of the advantages are the processing time frames, which can be as little as a couple of days.

The most important thing to remember is that hiring a consultant is an investment, not a cost, and should produce a return on that investment. Keep that in mind and the rest is easy (well, easier anyway).Pre-hireIf hiring a consultant is an investment, what sort of return should you expect. Well, that depends on why you’re bringing in an outside consultant and the nature of the work. And that leads into the second most important thing to remember; hire a consultant for specific things, don’t hire a consultant if you don’t have specific requirements, set objectives, or defined outcomes. If you only have vague ideas on what you want a consultant to do, you’re in trouble. Of course, there may be times when you hire a consultant to help you develop specific requirements for a not yet defined project. In that case, the objectives for this particular consultant would center around developing the defined objectives and outcomes of the greater project. That’s fairly common, especially for an undertaking that is something new for your organization or is much larger or more complex than you’re used to developing.There are any number of things you might hire a consultant for. The difference between hiring a consultant and outsourcing work to a “regular” vendor is generally in terms of scope. A consultant is generally hired for specific projects that are well defined, which includes a defined time frame, whereas a vendor is usually more of a long-term relationship involving regular deliveries of products or services, or multiple projects over an open-ended time period. Consultants are hired for their specialized skills and expertise, to bring in an outside perspective not tied to internal culture and politics, for a fresh, creative perspective to a particular issue, to free up internal resources for special projects, and to educate and train the internal workforce, which can include executive management all the way down to the lowest tier workers.You might hire consultants for everything from developing marketing campaigns, conducting research and development activities, technology recommendations and implementation, process improvement, financial recommendations, executive coaching, management systems development, implementation, and training, and anything in between. The specific requirements for a consultant will be different depending on what you’re bringing them in to help you with. If you hire a consultant to provide recommendations for a technological solution to a particular issue, the requirements you develop for the consultant will include, of course, a final recommendation. But you don’t want to just leave it at that, that’s too open ended by itself. You probably want to include other requirements, like documented and substantiated backup for why the particular solution was recommended. You might want the requirements to include the documented methodology that was used to review the options and determine the recommendation. Put some thought and effort into defining your requirements for the consultant. You’re spending money for results, and you want those results to be valid.Interviewing Potential ConsultantsPotential consultants for each project may be someone you’ve worked with before, they may be someone you’re familiar with, but haven’t worked with, they may have been recommended to you, or they may be someone totally new and unfamiliar to you. No matter which category they might fall into, potential consultants should be interviewed prior to being awarded a contract. Even if you’ve worked with someone before, each project is unique and you want to ensure the best fit of consultant with the project. Even if the project is the same, or very similar, to one the consultant has already worked with you on, if any time has elapsed since the completion of the project, things have changed, so interview them anyway.At this stage, you’ve probably already determined whether the potential consultants have the skills and expertise needed to complete the project. You’re interested in their fit with the project, their work philosophy, and their methodologies. Since you’ve defined the requirements and the expected outcomes, you looking at how the consultant is going to go about achieving them. You don’t want to define how they go about doing their work, but you want to make sure that they will mesh with your internal organization, when required, so that the goals will be achieved within the time frame you’ve outlined.Ask tough questions. Ask what they’ll do if certain things happen, like unforeseen events. They’ll probably have good answers for you, but look at how they answer them, their attitude, and their perspective on things.When the Work BeginsSo, you’ve selected your consultant and hired them. Now what? Do you just sit back and wait for something to come out down the road? Probably not a good idea. You want them to do their work, their way, but you want to monitor them and keep informed of their progress and how things are going along the way.In your contract, whether it’s formal or informal, you should define how you’ll monitor their progress and how they’ll report their progress. A lot will depend on the scope, length, and complexity of the project. You might require very detailed written progress reports on a weekly, or less, basis, or you might just want a quick, informal chat on an irregular basis. I’d lean more towards requiring a more formal, written, and regular report, even if it’s short and simple.You don’t want to get in the way, but this is an investment, so you want to keep an eye on things. For the most part you want to leave them alone to do their work. But, you want to be aware of any potential glitches before they erupt into full-blown problems. You need to know if any internal resources have to be added or allocated, and if the project will be completed on-time and will meet expectations. It’s better to know these things beforehand, rather than be surprised with some special requests or unfulfilled expectations.Again, it will depend on the project, but the question of where the consultants will work may need to be addressed. For some projects you’ll have the consultant sitting with internal staff, working side-by-side. In some instances, the consultant will work away from your facilities. They may work out of their own office, they might be on the road meeting with some of your partner organizations, such as suppliers or customers, or they might just work virtually from some distant home base. It all depends on the nature of the project, the requirements, your needs, and the needs of the consultant. Be flexible. If you think the consultant has to be in your sight at all times, and they do not, look at it from their point of view. Since you’ve already defined the objectives and the progress reporting requirements, there isn’t always a need to have the consultant around just to have them around.After Project CompletionAfter the project is completed and wrapped up, you should always conduct a follow up session, or debriefing. Review what went well, what didn’t go as well as expected, why things either did or didn’t go as expected, and how you can improve the process. Anything you can learn about the process of hiring and working with a consultant will benefit you, and them. Chances are you’ll utilize a consultant again in the future, so the more you can improve the process, the better. And if you utilize the same consultant, all the better to maximize your investment.If you’re happy with the work that was performed, write a recommendation that the consultant can use for marketing. Consulting is very much a relationship based business, and personal testimonies from satisfied clients are valued and appreciated. Don’t wait to be asked, provide it at the completion of the project. This will also help you with your relationship with the consultant, which is always good. You never know when you’ll need their services again, so it’s beneficial to establish a good relationship.

The purpose of all Commercial Property Condition Assessments (PCAs), ASTM standard E2018, is to make sure that the property and building you believe you are purchasing or leasing is actually the property being received. You will have reached that decision, in part, from the information attained via a professional inspection and Property Condition Report (PCR). Every real estate transaction is different and each transaction has its own unique set of considerations and conditions to validate before finalized. The utilization of professional third party experts in the physical property due diligence process is critical to the overall accuracy and cost efficiency of your property transaction.The Purchase or Leasing of Commercial real estate, whether it be a basic commercial net lease, a commercial triple net lease, the purchase of a church facility, a retail outlet, or the purchase of a million square foot office/warehouse, the prospective buyer or lessee absolutely must conduct an adequate level of due diligence when investigating the physical quality of the commercial real estate they are investing in.You need to know not only the physical characteristics of the real estate and buildings being acquired, but the approximate condition and age, to assess the good with the bad, such that you can adequately balance the risks and rewards being offered in conjunction with your real estate deal. The single most important part of the real estate transaction process, aside from the purchase price and profitability balance, is a well-documented review of the actual physical condition of the real property. Otherwise, you could find yourself the not so proud owner of a commercial property that, doesn’t suit your needs, costs more than you can afford in upkeep, or the ultimate remorse for investors – capital expenditures are being sunk into a property on a regular basis that someone else is utilizing and making money off of, and you are not. Suddenly, that long term lease with a solid anchor doesn’t seem so attractive anymore.The process of commercial real estate inspection begins before the offer to purchase real estate is drafted or signed, by visiting the site and discussing the physical condition of the property with the Owner and real estate brokers. This process should be considered invaluable to establishing relationships required to obtain the information that will be necessary to concrete your due diligence with a Commercial Property Condition Assessment (PCA).During negotiations and drafting of the real estate sales/lease contract it is important to recognize seller or lessor reluctance to points such as the existence and availability of important documents such as warranties, maintenance contracts, architectural and engineering plans and/or local municipality reviews and inspections. Negative reaction to the request for release of these documents by seller or lessor can imply possible deferred maintenance and/or inattention related to property and building condition(s) and inspection issues.Once the commercial real estate sales contract is signed the due diligence period begins, focus on maximizing efficiency of time and cost and prioritizing concerns to start checking off the costly big ticket items from the top down. Assuming adequate documentation is furnished by the seller for review, adequate time should be allotted to verify the information provided. Additional effort and monies that that will need to be spent to make up a shortcoming of available documentation through extra property condition assessment and additional field inspections and/or experts should be considered essential and figured into the cost of the property transaction. Ask the seller for all documents and contacts the seller received during his due diligence process when he purchased the property to speed up fact finding.Review of existing property documents where available may include:Accessibility surveys, Architectural Building plans, Certificates of Occupancy, Citations from Authorities Having Jurisdiction, Emergency evacuation plans, Environmental studies, Electrical System Construction plans, Fire-detection test and maintenance records, Fire-door inspection reports, Fire-Protection System Construction plans, Fire and Restoration records, Maintenance records, Mechanical System, Construction plans, Violation Notices from Authorities Having Jurisdiction, Construction Permits, Plumbing System Construction plans, Previous inspection reports, Roofing System Construction plans and Warranties, Safety inspection records, Seller condition disclosures, Sprinkler System Test Records, Systems and Material Warranties, Current tenant information, Current policy of title insurance, Notices of any environmental conditions, Notices of any new or special assessments or taxes, Copies of all current bills for the property, Service contracts, Evidence of current zoning, As-built plans and specifications, All construction related documents including warranties, All past and present uses of the property, Third party reports or inspections, Any surveys of the land and improvements in seller’s possession.One of the best tools available to the commercial property due diligence team is the interview process which can unlock a plethora of potentially useful information regarding the subject property.Interview of any available key personnel with specific knowledge of the property conditions may include:Owner, Tenants, Maintenance Foreman, Contracted maintenance services personnel or other contracted companies that routinely work on the property and/or building.Property Inspection, Real Estate Inspection, Building Inspection, Due Diligence Survey, as they may be labeled in the due diligence report is essential to ensure sufficiency of construction considering the intended use of the occupants and the surrounding geography and climate. The furnishing of any available plans and specifications should be helpful here, but will not end the investigation. A current commercial property condition assessment should be done by a qualified third party inspection company experienced in the type of property to be inspected. A previously performed property condition assessment or inspection is nearly always furnished for the use of a single party in a single transaction and is protected under law and not reusable nor transferable to any other party. The focus of the inspection should be primarily on site condition and building components such as the site drainage, parking, building structure, mechanical and electrical systems and general accessibility and usability of the property. Various climates and geographical regions will require more specific inspection knowledge, thus hiring a local inspector is always a good idea if possible, in lieu of hiring a company out of Wisconsin to perform due diligence on a California high-rise building on a fault line.Site Survey and Walk-Through to Observe Existing Conditions may include:Grounds and Topography, Parking, Paving, Access, Building Exterior and Façade, Building Interior, Roofing systems, Structural systems, Mechanical systems, Electrical Systems, Plumbing systems, Fire-protection systems, Vertical transportation systems, and any number of other specialty systems.The 2010 Americans with Disabilities Act is the current guideline for accessibility standards nationwide and is a federal law, hence non-negotiable and to an extent, yes, it’s retro-active even for older commercial and public buildings. Many states also have additional and/or more stringent or specific accessibility standards as well. Most professional property condition assessment and inspection companies can also perform both abbreviated and complete accessibility surveys as part of a real estate transaction.Basic abbreviated and full compliance Accessibility surveys may include:Abbreviated survey looking only for basic ADA Accessibility components visible during the walk-through and documented according to the ASTM abbreviated survey form and checklist gives a quick check as to the general status of compliance. Full compliance survey involves physical measurements of distances, slopes, and push/pull forces required within the accessibility standards to allow for a certain level of physically disabled person to be able to successfully navigate a property, site, and building.Environmental Due Diligence known as Environmental Site Assessment (ESA) is the most utilized Environmental Inspection Report. The typical level of report preferred by lenders to demonstrate adequate due diligence is called a Limited Phase I Environmental Transaction Screening ASTM standard E1528. This explores the past use of the property and the surrounding properties to identify any potential onsite or adjacent environmental problems or future liabilities. These reports normally require a significant monetary investment and take a number of weeks to complete so they should be done as soon as you have determined you will be moving forward with your due diligence. The purpose of this inspection is to determine if the property contains any hazardous materials or poses a threat in any way to its surroundings. This could be caused by underground storage tanks located on the property or runoff from the property into the water table or any other number of hazards listed by the Environmental Protection Agency. While the report is expensive, the cost of cleaning up an environmental hazard can be astronomical. While not every deal will require you to obtain a Phase I Environment Site Assessment, many lenders will require it as part of their loan guidelines. In case of a fairly new development with a clean environmental record and no neighbors of an industrial nature, a simpler less expensive and much quicker Environmental Transaction Screening ASTM standard E1528 may satisfy lender and legal requirements.Any basic environmental due diligence report may include:Research of historical site usage, aerial photography records, property transaction records, construction records, building records, EPA mapping data, local municipality topography mapping, and a through site walk-through to visually identify potential environmental issue indicators.The information contained herein is purely professional opinion and provided for general real estate inspection reference only and is not intended in any way to be a definitive guide, nor a guarantee of past, present, or future legal or state or federal requirements, nor a measure of performance of any professional services company. Best of luck to you in all of your future property, real estate, and building dealings!