You recognize the need for life insurance, but two important questions remain: How much coverage do you need? What information is needed to justify the amount of coverage? Depending on the reason you are applying for life insurance, there are several ways to determine the amount of coverage you need. Family income protection is one of the main reasons people apply for life insurance. In order to assess your life insurance need, the insurer will need to know your age and income at the time of the application. Questions about life insurance
Archives for June 2015
$280,000 — it’s perhaps the most alarming number in personal finance.
According to Credit.com, that’s the amount of money the average American will spend servicing the cost of debt incurred over the course of a lifetime. That represents money that could otherwise fund an Ivy League education, a house or any number of highly valuable items.
Instead, many Americans are spending that cash on interest payments due to still recovering from the economic downturn. Perhaps even more alarming, that figure represents what someone with an average credit rating will spend on debt service.
These numbers paint a stark picture of the consequences of being overleveraged with debt. While not all debt is bad, carrying too much of it can put a heavy strain on your personal finances, prevent you from taking advantage of important opportunities, and make life generally more difficult to navigate.
With that said, let’s explore how savvy insurance management can help you avoid unwanted debt and save money. Read Story…
Chances are that your health insurance costs are becoming an increasingly larger portion of your monthly household budget. So doing whatever you can to reduce those costs (without reducing the scope of coverage) is as important as ever.
For example, you probably already know that staying healthy and quitting smoking will help you keep your health insurance premiums low. Perhaps you’ve even raised your deductibles or your coinsurance ratio, knowing that these steps can help minimize your monthly out-of-pocket costs.
But you might also want to consider some of the surprising things that could raise your health insurance premiums, and act accordingly. Read Story…
Join Keller Stonebraker and Maryland Insurance Commissioner Al Redmer for the upcoming Maryland Insurance Administration forums coming to a city near you!
Commissioner Redmer is interested in gathering information and opinions from various constituencies regarding the State’s insurance climate. In these series of forums, he will be reaching out to individuals, business owners, and insurance producers to hear opinions and questions about all the recent changes to the health insurance market.
Click for additional info Health Insurance Town Hall Meetings
Once you’ve got your comprehensive auto and homeowner’s insurance policies in place you’re completely covered against losses relating to your car and home, right? Unfortunately, that’s not necessarily the case.
Homeowner’s and auto insurance policies are subject to maximum coverage limits, so they wouldn’t cover you completely if you’re ever subject to a claim that exceeds your maximum coverage. So if you’re ever subject to a large claim, your personal assets could be subject to loss to cover that claim. Sometimes the best approach in protecting yourself isn’t to get more homeowner’s or auto insurance, but to purchase an umbrella insurance policy instead.
Here is some basic information and insurance advice about umbrella coverage. Read More…
Homeowners insurance is absolutely essential in order to protect what’s likely the single largest financial asset you own: your home. Besides that, your bank will require that you have a sufficient amount of homeowners’ insurance when you first take out your mortgage, and that you maintain such coverage for the life of the mortgage.
But through the use of optional coverages – also known as “endorsements” – you can make sure you are fully protected. There are many different types available, and insurance companies don’t always do a great job of publicizing what they have to offer. Chances are if there’s something relating to your home or its contents that isn’t covered by a standard policy, there’s an endorsement available (at additional cost) to protect you.
Here is some insurance advice on what endorsements you need to pay attention to. Read Story
Getting married will change many things in both your and your spouse’s lives. You’ll likely spend a lot of time, effort and money planning for and having your wedding, and even more time, effort and money setting up your new household. Combining two lives into a single venture can certainly take some getting used to.
In addition, getting married can change what the two of you need to do with respect to your insurance requirements. Remember that insurance is the foundation of a secure personal financial scenario, and it should be one of the first things you reexamine whenever there are major changes in your life.
Here are some ways that getting married can change your insurance needs. Read More…
Work Zone Ahead signs can frustrate drivers on the road when slow traffic affects our daily routine. But we can lose a lot more than just a few minutes if we don’t follow traffic laws for construction areas.
Construction zones can be dangerous for both drivers and workers. According to the U.S. Department of Transportation Federal Highway Administration, in the past five years there were 4,400 deaths and 200,000 injuries in road construction zones. Of the 4,400 deaths, 85 percent were drivers or passengers and 15 percent were construction workers. Read More
According to the Centers for Disease Control and Prevention, there are approximately 4.7 million dog bites per year. These bites cost the property/casualty insurance industry roughly $317.2 million in 2005.
Homeowners and renters insurance policies typically cover dog bite liability. The following tips can help reduce the chances of your dog biting someone:
1. Have your dog spayed or neutered. These procedures will greatly reduce the likelihood that the dog will bite.
2. Socialize your dog so that it knows how to act with other people and animals.
3. Play non-aggressive games with your dog such as “go fetch.” Playing aggressive games like “tug-of-war” can encourage inappropriate behavior.
4. Avoid exposing your dog to situations in which you are unsure what the dog’s response will be.
Good pruning can prevent many problems but over-pruning can significantly weaken a tree. Prompt removal of diseased, damaged or dead plant parts helps limit the spread of harmful insects and disease, as well as reducing the possibility of the future storm damage. Read Story
The weather’s warming and the birds are chirping. Make no mistake about it, it’s time to get your car ready for the first road trip of the season. Whether you’re headed north for some last-minute skiing or toward the coast for some fun in the sand, there are a few things you can take care of before you set off that will make your drive as easy going as the rest of the trip. They might even save you some cash by keeping you off of the side of the road, too. Read Story
You and your passengers depend on your tires for a safe and secure ride. National Tire Safety Week, May 24-30, is a good time to check your tire maintenance procedures. Test your knowledge by taking our six-question quiz.
The roof of your home is its first line of defense against the elements. But as a roof ages, its ability to protect lessens. The manufacturer’s estimated lifetime rating for roof shingles is determined under ideal circumstances, but actual conditions that your roof endures could be far from ideal.