Wed, 22 May 2013 11:39:12 -0700

Summer vacation is a great time for kids to enjoy time off from school and the availability of outdoor activities and fun, but it can be a stressful time for parents. As kids have more free time and spend more time outdoors and near water, health and safety risks can increase greatly. According to the National Safe Kids Campaign, each year a startling one in four kids is subject to an injury that requires professional medical attention. Additionally, 42 percent of all deaths that are a result of an injury occur in the summer months, between May and August.

There are tips parents can follow to ensure their kids enjoy not only a fun but also a safe summer vacation this year.

Keep Kids Bite and Sting-Free

Summer is a time when insects, including mosquitos and bees are out in full force. Bee stings can lead to allergic reactions that can potentially be deadly, and mosquitos are transmitting a record number of cases of West Nile Virus. In order to prevent bites and stings, spray children with a DEET-free insect repellant every time they go outdoors, even if it’s only for a short period of time.

Swimming Safety

Never leave kids unattended near any type of water, even if they are great swimmers. It’s also important that if you have a home pool, it has a fence that’s at least 5 feet high surrounding it, and pool alarms are another beneficial idea for residential pools. This can help prevent accidents for not only your own children, but also neighborhood children.

Remember a Helmet

Always ensure your child wears a helmet when riding bicycles, roller skates, scooters or skateboards. Almost 300,000 kids visit the emergency room each year because of injuries related to riding bikes, and helmets are one of the best ways to prevent a severe or even deadly injury from occurring. Another way to maintain safety when riding a bicycle is to make sure your child’s bike is a good fit for their size. Bikes that are too large or small contribute to a large number of accidents. In order to check, a child should straddle the bike with his or her feet placed flat on the ground. When doing so, there should be a 1-3 inch gap between the top bar of the bike and the child.

Food Safety

Summer is a great time to enjoy picnics, barbecues and parties, but with these events come the risk for food contamination. There are a number of food-borne sicknesses that can be particularly difficult when they affect children. These include salmonella and viruses and sicknesses caused by bacteria such as E.Coli. When preparing foods for summer activities, don’t let them stay at room temperature for more than an hour. All raw meat should be cooked thoroughly, and shouldn’t be stored with other food items. Fruits and vegetables can also be a source of bacteria, so they should always be washed and properly refrigerated. 

Thu, 16 May 2013 10:22:07 -0700

Many people debate whether or not they should get a home security or alarm system—considerations typically focus on whether or not the benefits outweigh the costs of having a system installed. A homeowner’s insurance policy can be expensive, but also incredibly valuable in a number of potential scenarios. In fact, home security systems can not only protect homeowners from the risk of burglars, fires, carbon monoxide and even floods, but they’re also a great way to save money on a homeowner’s insurance policy.

Alarm System Monitoring

In order for most insurance agencies to provide discounts, the home security or alarm system must be monitored, meaning in case the alarm is triggered, the alarm company will be alerted, and they will then notify the authorities. This is important to remember because do-it-yourself alarm systems are becoming increasingly popular, and often these alarm systems are not monitored and therefore wouldn’t likely qualify for discounts from an insurance agency.

Why Is There a Discount for Security and Alarm Systems?

Essentially, an insurance company that provides a discount for having a monitored home security system is providing the customer with a reward, because in the long-run, having the security or alarm system can be beneficial for the insurance company. Having these systems in place is an effective way for not only homeowners to minimize their risk, but also for insurance companies to do the same.

A good example is if a home catches on fire. If the home has an alarm system and the authorities are alerted quickly, the amount of damage is likely to minimized, whereas if the home doesn’t have an alarm system, a fire could result in a total loss. This means your insurance company will have to provide a higher payout.

The same situation applies to a burglary. If an alarm system is in place, it may deter the burglar or prevent them from taking as many items from a home, and this means lower costs for your insurance company.

In basic terms, the insurance company is saving money and passing those savings on to you, as the customer, through discounts on premiums.

How to Choose a Security System

In general, the more sophisticated and technologically-advanced a security system, the greater the savings on a homeowner’s insurance policy. While a basic security or alarm system is going to save a homeowner money, it won’t save as much money as having a complex system with surveillance cameras, home automation capabilities or glass-break sensors.

Despite the potential to save money by installing advanced home security systems, it is important to look at the costs of the security system as compared to the savings you’ll be able to take advantage of on your insurance policy. In order to find a system that will best suit your needs and be cost-effective, it’s best to meet with several companies to receive quotes.

Your insurance agent can also provide you with information about available discounts on your policy, with regard to specific security and alarm systems. 

Thu, 02 May 2013 08:19:26 -0700

If you're considering investing in long-term care insurance protection, you should evaluate the differences between a standalone long-term care insurance policy and a life insurance policy with the long-term-care benefit rider. Both can provide valuable benefits to you as you get older, but one policy might be more appropriate for you than another.

            A standalone long-term care insurance policy is only going to offer you the benefits of reimbursement or cash payments in the event that you are unable to perform two or more activities of daily living. One of the biggest concerns among today's baby boomers is the risk of outliving their savings, and the high cost of healthcare for the elderly make long-term-care insurance an important product. If you need assistance, whether it's in your own home or through a nursing home facility, long-term care insurance will help to cover the high costs of getting the help that you need. This is also critical for those families who don't want to place a burden on their children or other caretakers. Unlike a life insurance policy with the long-term-care rider, long-term-care insurance only addresses the needs associated with protecting your assets and reimbursing care if you should need it.

            A  life insurance policy, on the other hand, has several benefits that might be more flexible for your individual needs. For example, a life insurance policy can provide your beneficiaries with a tax-free lump sum when you pass away. However, access to a long-term-care rider also makes it easy to tap into the funds while you're still alive. A universal life insurance policy, which covers you throughout your entire life, can also build cash value, which is helpful for borrowing through loans, even as a college savings plan. A life insurance policy with the long-term-care benefit rider is ideal for anyone seeking flexibility, lower premiums, and a product that helps them achieve multiple goals. If you are still relatively young, consider the many benefits offered by a life insurance policy. You'll still have access to the funds for healthcare assistance if you need them, but you'll also be serving multiple purposes with just one policy.

Mon, 29 Apr 2013 07:00:00 -0700

You’ve probably insured your home, your car, maybe even your life. Leaving your insurance needs at these three simply isn’t enough, because you’ve failed to protect your greatest asset: your income. Unfortunately, especially in this challenging economy more people than ever are living paycheck to paycheck. Many haven’t accumulated the necessary savings to get their family through one month, let alone several.

            The good news is that there’s something to address this concern- disability income insurance. Also known as DI, this insurance kicks in and pays a portion of your income if you become disabled for any reason. For a minimal cost, you can protect your earnings in the event of an accident. Disability statistics are only climbing- according to the LIFE Foundation, people today face a 1 in 4 risk of becoming disabled during their working years.

            The way that disability income insurance works is that after a certain elimination period, which is typically 90 days, a partial income benefit will kick in to help support you and your family in the event that you are missing work due to a disability. Your policy can be customized to protect up to a certain portion of your income and your rate class depends on your health as well as your occupation. Some insurance carriers even offer the opportunity to reduce the elimination period for lack of claims over certain periods of time, which can come in handy for younger workers who don’t face any disability claims until they are older.

            Disability income insurance fills a critical need in your insurance portfolio by protecting your income. In the event of an accident, you don’t need the added pressure of worrying about how to make ends meet. You need to instead be focused on your recovery. Having a disability insurance policy in place will allow you to get better and be able to draw a certain amount of your salary while you’re out of work. Consider setting up a meeting with your insurance agent today to discuss your needs. 

Wed, 17 Apr 2013 07:15:00 -0700

There are many reasons to convert your term policy to universal life coverage. Don't make the move without carefully considering your options. Term policies last for a certain year period that you select at the time of application (generally between 10 and 30 years). When the policy expires, it goes into an annual renewable term status, often at a much higher premium. This is because the insurance carrier has calculated the risk of you owning that policy for a specific period and makes the premium as competitive as possible for those years. Once you go beyond those years, premiums are often unaffordable.

Converting your policy to universal life appeals to those who want to continue with the umbrella of life insurance coverage. Universal policies cover you for life. As a result, they are more expensive. Converting part of your policy, however, affords you the option to reduce the premium between a full blown UL policy and what you were paying on your term. Depending on your product, you may even be able to accumulate cash value for savings or loans within the policy.

Conversion will give you lifelong protection so you won't have to worry about your family's financial future if something happens to you. In addition, converting part of the policy may make more sense if your situation has changed since getting the term policy. Examples include children who have now moved out of the house and completed college or a paid-off mortgage. You simply wouldn't require as much coverage now if these events have occurred. Converting part of your policy will continue to give a death benefit to your spouse, all while keeping the premium lower than if you had converted the entire policy. Check whether your policy is within its conversion period by contacting your carrier today.