After four decades in the music industry, Simon Cowell is showing no signs of slowing down.

And ahead of his 65th birthday later this year, the talent scout has insisted that he will never retire from the industry – and revealed the touching reason why.

In an interview with Hello! magazine, Simon, 64, recalled the sadness surrounding his late father Eric’s retirement as he had ‘no choice’ in his stopping working.

Simon – who is about to set out on a new search for the next hit boyband – has confirmed that he won’t let the same thing happen to him.

Asked if he was looking to retire, he said: ‘Oh god no, I’ll probably drop dead doing what I’m doing.

As long as I think there’s a need or a purpose and it’s something I can do well, I’m up for it.’

Simon recalled that Eric – who passed away in 1999 from a heart attack – had ‘no choice’ but to stop working as he was employed by a big company.

The X Factor judge said that watching what his father went through was difficult.

‘His brain was still amazing and he could have done that job for another 20 years,’ Simon said.

Sharing the words of advice he received from him, Simon said his father urged him to try and work for himself if he was ever in a position to.

Simon’s fiance Lauren Silverman, who he shares his son Eric, 10, with – has also come to terms with the fact that her partner won’t be slowing down.

Lauren, 46, said that a relationship is about accepting a person for her who they are.

She said Simon ‘marches to the beat of his own drum’ and instead of trying to change him, she is happy to walk alongside.

In a sign that his career is nowhere near its end, Simon signed a huge deal with Netflix for his new talent show.

He said recently that he thought there had not been a band as successful as One Direction since, and set about on a quest to replicate their fame.

It was then revealed that he signed a deal with Netflix for the show and – clearly not afraid to shout about his talent scouting prowess – called it Simon Cowell: Midas Touch.

A source revealed to The Sun that Simon is in the end stages of finalising the deal with the streamer.

They said: ‘Netflix is the perfect place for his new show and Box To Box, who are producing the series, have worked with them before.

‘Simon and his team have been working so hard on getting the show off the ground and a final deal is so close now.’

The name of the show has amused people behind the scenes, it has been said.

The source added: ‘Simon knows he is the best at what he does and calling his show Midas Touch gives a new meaning to blowing your own trumpet.’

Simon’s search will consist of X Factor boot camp style auditions starting on July 4 and 5 in Newcastle, before he moves on to Liverpool, Dublin and London.

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Source: New York Post

Understanding Deductibles in Insurance

What is a Deductible?
A deductible is the amount of money a policyholder must pay out-of-pocket before an insurance company begins to cover the remaining costs. Deductibles are a fundamental component of most insurance policies, including health, auto, home, and business insurance.

How Do Deductibles Work?
When you file a claim, you are responsible for paying the deductible amount. Only after this amount is paid will the insurance company pay for the covered expenses exceeding the deductible. For example, if you have a $1,000 deductible on your car insurance and incur $3,000 in damages from an accident, you would pay the first $1,000, and the insurance company would cover the remaining $2,000.

Types of Deductibles
Fixed Dollar Deductible: This is a specific amount you must pay each time you file a claim. It’s common in health and auto insurance policies.
Percentage Deductible: In some cases, particularly with homeowners insurance, the deductible might be a percentage of the insured value. For instance, if your home is insured for $200,000 and you have a 2% deductible, your out-of-pocket cost would be $4,000 before insurance covers the rest.
Per-Claim vs. Annual Deductible:
Per-Claim Deductible: You pay the deductible every time you file a claim.
Annual Deductible: Common in health insurance, this deductible resets each year. You pay out-of-pocket until your total expenses reach the deductible amount for the year.
Why Do Deductibles Exist?
Cost Control: Deductibles help keep insurance premiums more affordable. Higher deductibles typically result in lower premiums because the policyholder assumes more initial risk.
Reduced Claims Frequency: Deductibles discourage policyholders from filing small or frivolous claims, reducing the number of claims an insurer must process and pay out.
Shared Responsibility: Deductibles ensure that policyholders share in the financial responsibility of their care or damages, promoting cautious behavior and maintenance of insured assets.
Choosing the Right Deductible
When selecting an insurance policy, choosing the right deductible is crucial. Here are some considerations:

Financial Ability: Assess your ability to pay the deductible in case of a claim. A higher deductible can lower your premium but may be challenging to pay if an incident occurs.
Risk Tolerance: Determine how much risk you are comfortable assuming. If you prefer lower out-of-pocket costs during an emergency, a lower deductible might be preferable, albeit with a higher premium.
Frequency of Claims: Consider how often you might need to file a claim. If you anticipate frequent claims, a lower deductible might be more cost-effective over time.
Impact on Premiums
The relationship between deductibles and premiums is inverse. Generally, the higher the deductible, the lower the premium, and vice versa. This trade-off allows policyholders to customize their insurance based on their financial situation and risk appetite.

Conclusion
Deductibles are a key feature of insurance policies that influence both the cost of premiums and the financial burden on policyholders when filing claims. Understanding how deductibles work and carefully selecting an appropriate deductible can help balance cost savings with financial protection, ensuring optimal insurance coverage tailored to individual needs and circumstances.