Tag: policy unique

The primary step to performing a horizontal directional drilling job is securing the best fit drill pipe for the specific operation being conducted. A poor fit undermines the performance of the entire horizontal directional drilling equipment and severely affects production results. That’s why it’s important to ensure that the correct drill pipe is used for the project.

The use of a drill pipe, as part of a drilling rig, is to guide the drill bit in its rotation, much like how a straw works with your drink. The drill bit must be able to rotate freely and smoothly within the hollow cavity of the drill pipe without compromising its integrity or that of the borehole itself.

However, with the wide range of drill pipes available in the market today, it can be difficult to choose which one is best suited for any drilling project. For this reason, it’s best to create a checklist of factors that will potentially affect the productivity of the project as well the efficiency of the drill rig.

Torsional Stiffness

 When drilling a pilot hole for an extended reach HDD project, torsional stiffness is a critical factor to consider. For example, a 6 5/8-in., 27.70 lb/ft, S-135 drill pipe with a.362-in. wall thickness will twist 59 percent less than a 5-in., 19.50 lb/ft, S-135 drill pipe with the same wall thickness. This is especially important while trying to keep the mud motor and drill bit on the high side, or clock-face, at the end of a 5,000-foot pipe string.

Connection

Most HDD installers prefer to utilize API-style connections like 4 1/2-in. IF, 5 1/2-inches full hole, or 6 5/8-inches full hole since they are common and well-tested in the field. These connections are available with a double shoulder feature or in their conventional configuration.

The double shoulder variants of these connections give a secondary shoulder at the end of the pin. This strengthens the connection by around 30% and helps prevent over-torque if slip torque occurs downhole.

There are other available connections, but they frequently come with their own set of challenges, such as re-cut serviceability and cross-over subs, stabbing/alignment issues, adapters, or accessories availability. 

Size of the pipe

Another factor to consider is the size of the drill pipe. Selecting one that is too big or small will only compromise its rigidity and strength, leading to damage caused by poor performance.

Typically, for most HDD projects, the use of 4 1/2-inch, 6-inch or 8-inch sizes are more than sufficient to penetrate through soft soils and achieve the best possible ground penetration rates.

Type of material used

The drill pipe is made up of different types of materials with varying degrees of strength. For instance, 4 1/2-inch pipes are usually made up of stainless steel material with added molybdenum. This alloy is known for its strength and durability, making it suited for most HDD projects.

Hard Banding 

When utilized on rock crossings, hard banding can extend the life of drill pipe. Consult your vendor about the many types and placements of hard banding. For HDD projects, some manufacturers or suppliers can recommend different types of hard banding as well as where the hard banding should be placed (special features).

Manufacturer

The manufacturer of the horizontal directional drilling equipment is also an important aspect to consider. This plays a crucial role in ensuring that your drill pipe can support proper rotation of the drill bit. The best manufacturer of drill pipe is a company that manufactures high-quality items for contractors and construction companies.

Make sure to compare prices from various manufacturers before making your purchase to get the best deal. If you are still unsure about the type of drill pipe to use for your project, consult a drilling contractor or construction professional.

Many people understand the importance of life insurance for the dependents they leave behind. However, when it comes to choosing the specific life insurance policy that is right, many of us get confused by all the options available. The basic concept of life insurance is the same, but there are differences that make each policy unique.

Understanding what you stand to gain from each type of life insurance policy makes it easier for you to choose a policy that is suitable. We look at the various life insurance plans and the main differences between them.

Whole Life Insurance

Whole life insurance guarantees payouts throughout your life as long as you honor all your premiums. It is the only type of life insurance plan that is not capped at a given number of years. The payouts can be made at intervals or after your passing, depending on the terms of the policy.

In addition to guaranteeing you payouts, whole life insurance also attracts a cash value, against which you can borrow.

The biggest disadvantage with whole life insurance is that it has much higher premiums.

Term Life Insurance

Term life insurance promises a specific amount in payout to your beneficiaries if you die within a stipulated time. If you do not die within this period, the policy expires and you don’t receive any benefits.

Most term life policies range between 5 and 30 years. It has lower premiums than whole life insurance.

This type of life insurance cover may be an ideal choice for people who plan to engage in high risk undertakings with a low survival rate.

The simple principle it’s based on, that of payout after death, gives you assurance that if you die during your adventure, your beneficiaries will receive the outlined benefits. You only have to ensure that your premiums are up to date at all times. Failure to submit even a single premium can void the policy, disqualifying your beneficiaries from getting any payout.

Term life insurance is usually only available for younger people.

Convertible Life Insurance

A convertible life insurance starts off as a term life insurance policy, but is later converted to a whole life policy. With this option, you retain the policy even when existing term life insurance expires.

The biggest advantage a convertible life insurance policy has is that it does not require you to have a medical exam to qualify for theconversion to whole life.

However, there may be a limit beyond which the policy can no longer be converted. This is its greatest shortcoming.

Variable Life Insurance

Under variable life insurance, you decide where your premium is to be invested. You can choose to invest in money market funds, stocks or bonds. The cash payouts and death benefits are determined by the performance of the linked portfolios.

If you’re very knowledgeable about a given portfolio and believe your beneficiaries can get good returns from it in future, you may want to consider this option.

The biggest disadvantage with this type of life insurance is that you don’t know the amount of payout your beneficiaries will receive following your death.

The fluctuating nature of the investment market also makes it sort of a gamble.

Some insurance companies allow you to pay extra for your beneficiaries to get a guaranteed amount in payout.

Universal Life Insurance

A universal life insurance policy is permanent. Its main advantage is that it allows you to adjust the premiums and the insurance payout following death.

They attract lower premiums and these are also flexible.

The policy accumulates cash value, against which one can take out a tax-exempt loan. You may also withdraw the cash, but this option is not tax exempt. The insurer retains any cash value remaining in your account after your death, and only pays out the death benefits.

However, the specific terms applicable to each insurance plan may differ. Some universal life plans require a one-time premium payment while others require scheduled fixed premiums.

All these differences will influence the amount you pay in premiums.

Which Factors Determine your Life Insurance Cost?

The amount any single individual pays in life insurance premiums can be significantly different from what someone else pays under the same policy. This is influenced by different factors, the most common of which are:

• Duration of the policy
• Death benefits guaranteed
• Your age
• Your lifestyle
• Your health

These are the factors an insurance company considers when issuing a life insurance policy. An individual who is relatively young may end up paying more premium than an older person if they lead a high-risk lifestyle. The older personwith a low-risk lifestyle and in good health is viewed as a safe bet, hence the lower premiums.

What should you consider when choosing A Life Insurance Policy?

Analyze your individual life situation to find out how much cash in death benefitsyour beneficiaries would need to maintain their current lifestyle following your demise. This gives you a clear idea of the total figure to work with.

Factors that influence the amount of insurance to take include:

• The number of dependents
• Age of dependents
• Any serious illnesses among dependents
• Expected amount in death benefits
• Whether your beneficiaries will be eligible for Social Security survivor benefits.

The more the number of dependents, the more insurance you need to buy. If most of your dependents are young, you’ll need more insurance for the benefits to caterfor their upbringing, college fund, and related expenses.

If your dependents have to manage a serious illness, the payout should be able to cater for this extra expense too. This means buying a higher amount of insurance.

If your beneficiaries will receive Social Security survivor benefits, you can buy a lower amount of insurance. The SS benefits coupled with the death benefits of your policy will add up to a significant amount.

Conclusion

Calculating how much life insurance you ought to buy is not so hard when you understand the concept behind each plan. Should you still have questions about any plan you’re considering, talk to an insurance expert for further clarification.