Insurance

The ABC’s Of Auto Insurance

The questions around auto insurance center not so much on whether to have it—it’s mandated by state law, required by your lender, and serves to protect your assets—but what kind of coverage you should purchase. Types of Coverage There are several forms of coverage that a car owner may purchase, some of which are required, others of which may be optional. The coverage requirements in all states include: Bodily injury liability (pays for the cost [...]

2018-11-29T20:17:52-05:00Insurance|

When Does Your Personal Car Become A Commercial Vehicle?

For small business owners, the line between the personal and their business can be a bit hazy at times. Yet, when it comes to a vehicle that may be used for personal and business-related reasons, it’s important to know how your auto insurer is expected to define what constitutes commercial use. If you own a car and cover it under a personal auto insurance policy, an insurance company may not pay claims for any damages [...]

2018-11-29T20:21:24-05:00Insurance|

When To Self-Insure

One reality of life is that risk is ever present. It exists in our commute to work, in our investment choices, and in our lifestyle decisions. Some risks can be transferred to an insurance company (such as auto or homeowners), while others we assume ourselves. When you choose to bear the financial burden of an adverse event, you are engaging in self-insurance.¹ You may self-insure by assuming the entirety of a financial risk, or a portion [...]

2018-11-29T20:21:38-05:00Insurance|

What You Should Do About Insurance Following A Divorce

Divorce can be an emotionally and financially challenging life event. In the face of the many possible adjustments divorce entails, making changes to insurance coverage may be overlooked. Here’s a look at each type of coverage: Auto If there is a change in auto ownership, you may need to obtain car insurance coverage to coincide with that change. You also may want to think about removing your former spouse from a policy to protect yourself [...]

2018-11-29T20:21:11-05:00Insurance|

Understanding The Basics Of Medigap Policies

Medicare coverage can be a critical component for living a healthy life in retirement, as well as for maintaining your financial independence during these years. Yet, as important as it is, Medicare does not cover the full range of healthcare expenses you may experience in your golden years. To fill the holes that exist in Medicare, Medigap insurance can be purchased by individuals over 65 to supplement Medicare. A Medigap policy is designed to cover [...]

2018-11-29T20:19:51-05:00Insurance|

Planning For The Expected

Perhaps Bette Davis said it best when she observed, “Old age is no place for sissies.”¹ The challenges seniors have met throughout their lives have made them wiser and stronger, preparing them for the unique challenges that come with aging. As we age, the potential for cognitive decline increases, ranging from simple forgetfulness to dementia. Long-term illness can sap time and energy from tending to your financial affairs in retirement. Even a decline in vision [...]

2018-11-29T20:14:56-05:00Insurance|

Can Group, Private Disability Policies Work Together?

According to the Social Security Administration, a 20-year-old has a 25% chance of becoming disabled before reaching age 67.¹ Loss of income for such a duration has the potential to cause significant financial hardship. And while Social Security Disability Insurance may help, it’s critical to understand that about two-thirds of initial applications are denied and SSDI recipients typically receive less than $2,000 a month.² Disability coverage may be available through your employer, who may pay [...]

2018-11-29T20:07:06-05:00Insurance|

Protecting Your Business From The Loss Of A Key Person

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can also represent the potential for significant financial loss. Though business owners cannot protect themselves from the unexpected and sudden loss of a key employee, they may be able to protect [...]

2018-11-29T20:15:08-05:00Insurance|

Insuring Your Business With A Buy/Sell Agreement

Tip: All in the Family. Family owned businesses account for 62% of total US employment and are responsible for 78% of all new jobs. Yet just over 30% of them survive into the second generation. Source: Conway Center for Family Business, 2017 Life insurance is designed to help protect a household from the financial hardships that may follow the untimely death of a primary wage earner. But how will a death affect a small business? One way of [...]

2018-11-29T20:12:01-05:00Insurance|

Term Vs. Permanent Life Insurance

According to industry experts, most people don't have enough life insurance. LIMRA, which keeps close tabs on the industry, recently reported that average coverage equals $168,000, or 3.4 years in income replacement. That's less than half of the recommended 7 year threshold. Furthermore, more than half of consumers said their household would be in immediate or near immediate financial trouble if the primary wage earner died today.1 When considering life insurance, one of the most [...]

2018-11-29T20:17:41-05:00Insurance|