Entries Tagged 'Sign Of The Times' ↓
July 9th, 2012 — Sign Of The Times
Summer is the perfect time to take your baby out for a ride. We’re not talking about your four-month-old baby; we’re talking about your other baby – your classic car. In the season of warm breezes, nothing beats the feeling of burning up the open road in your classic.
Classic cars come in all shapes and sizes, but they have one thing in common: the love and passion of their owners.
So it’s important that you have the right insurance protection for your car. Classic car (or collector car) insurance offers specialized coverage not available in standard auto policies, including:
- Agreed value. Car insurance is typically based on actual cash value, which means you get the depreciated value of your vehicle in a loss. Collector vehicle insurance, however, provides agreed value, which means that you and the insurance company agree on the value you would need to replace your classic. If you are offered this option, take it.
- Mileage plans that take into consideration the lower mileage on collector vehicles.
- Coverage for modifications to the car.
- Coverage for spare parts. This is usually a fixed amount, but it can come in handy if you need to make a last-minute repair.
In addition to providing the all-important coverage, these insurance carriers are very knowledgeable and can “speak your language” when it comes to insuring your hot rod, your exotic car, your classic motorcycle or your muscle car.
Now get out and burn up the road!
July 9th, 2012 — Commercial Insurance, Personal Insurance, Sign Of The Times
Many people start home-based businesses to earn extra income, and these businesses can come in all types, ranging from beauty salons to bookkeepers and everything in between.
During the start-up phase, there are many factors to consider: Will you provide a product or service? If you’re providing a product, will you make it at home? How will you market yourself? Where will you look for funding, and what financing programs are available?
Carving out your own niche is the fun part of starting a business, but several other areas need decisions as well: Will you operate as a sole proprietor or form a corporation? What accounting rules will you need to know? What relevant government agencies should you be aware of? And what kind of insurance will you need to protect your new venture?
Whatever your business, if you operate out of your home, you will need liability insurance for the products you make as well as for the customers you do business with.
Be aware that your homeowners’ insurance policy does not provide this coverage. Insurance companies want you to insure a business on a business policy.
In addition to liability concerns, you may have bought materials and equipment that are specific to your business rather than part of your household belongings. These also need to be covered by a business insurance policy.
If you use your own car to make deliveries or go to appointments, your personal auto policy will not cover this and you will need business auto coverage.
Fortunately, there is an inexpensive type of policy that can give you an adequate liability limit and coverage for your business property and auto. It’s called a business owners policy, and it’s offered by nearly every major insurance carrier.
Costs can run between $500 and $1,000 per year, depending on what you need to insure.
June 13th, 2012 — Personal Insurance, Sign Of The Times
Did you know your credit score can be used for more than just getting a bank loan?
These days many types of organizations use your credit score to determine how much they will charge you to do business with them.
If you live in a state other than California, Hawaii, Massachusetts or Michigan, your insurance carrier has the right to use your credit score as one of the factors that determine your auto insurance premium.
Why are insurance carriers using your credit score? Insurance is all about assessing risk or exposure to loss.
In the past, auto insurance has always been rated on the vehicle itself. These days, given the many technological improvements to vehicles, insurance companies have decided to assess the risk of the vehicle and the driver.
Research shows people’s financial traits cross over into other parts of their lives.
People with higher credit scores pay their bills on time and use good judgment with credit card limits.
They also carry over their good judgment to driving and tend to get into fewer accidents.
People with lower credit scores don’t pay bills on time, have a high debt-to-credit ratio, and are more likely to have accidents and file claims.
Therefore, insurance companies base your premium on your credit score. And those with lower scores should start working on improving them.
Here’s how: pay bills on time and reduce credit card debt. Thirty-five percent of your credit score is weighted on paying your bills on time, and credit card debt represents 30%. You also can boost your score an additional 15% by keeping longtime accounts open.
Best of all, be in control of your financial picture. The better your credit score, the better you are handling your finances. Banks, insurance companies and others will take notice and you will reap the benefits.
May 17th, 2012 — Annuities, Sign Of The Times
Most investors understand that the basic benefit of fixed annuities is that they offer the potential for a guaranteed payment. Regardless of whether the economy or markets are performing well or poorly, an annuity pays a minimum amount of income every month. But just how much money should you put in an annuity versus other investments?
When it comes to fixed annuity allocation, some financial advisors recommend that you put no more than a third of your assets into annuities. Others recommend that you limit it to three-fourths of your assets. But that’s a big difference.
The reason for the discrepancy is that some financial advisors feel they can get better returns for their clients by investing in a diversified portfolio of securities. But that’s a harder sell today than it used to be, given the huge losses the stock market has experienced in the past few years.
So how much money should you allocate to a fixed annuity? As is the case with any element of a portfolio, fixed annuities are best used in moderation. That’s because they’re a compelling way to guarantee a certain amount of fixed income in retirement. If overdone, however, they can rob a portfolio of flexibility.
No single answer fits every investor, but one guideline is to use an annuity to cover your basic living expenses. You may have to put a significant part of your nest egg into the annuity to receive the amount you need, but you’ll know it will be there, through good times and bad.
May 14th, 2012 — General Insurance, Sign Of The Times
Ever have a flight delay? Ever have a trip cancelled? Ever have a hurricane ruin the vacation you’ve waited all year for? Lost your deposits on hotels, rental cars, airfare? A quick, inexpensive way to protect your dollars is with Travel Insurance. Click on the link below to see how your vacation money can be saved:
http://www.diversalertnetwork.org/trip/refer.asp?RC=2329842
May 2nd, 2012 — General Insurance, Sign Of The Times
The really bad thing about identity theft is not simply that your personal information has been stolen; it’s that the thief is using that information for his or her own gain at your expense.
It’s not just your credit card that’s at risk. Hackers can access your Social Security number, medical records, date of birth, driver’s license number, even your eye color.
The identity thief can start new credit card or bank accounts using your name; he can combine your information with his own to create a completely new identity. Thieves also can use your medical information for fraudulent purposes or assume your identity if they are arrested or caught speeding.
The good news is that just as your information can be misused, there are ways to prevent it from happening.
One way thieves get their information is by dumpster diving – gaining access to your mail in the trash. For example, a thief can sign up for a credit card in your name using the application form from discarded mail offers. Shred all important documents, even those annoying credit card solicitations. There also are companies that can remove your name from solicitations’ lists.
Keep important documents, including your birth certificate and passport, in a safety deposit box. Don’t carry your Social Security card or checkbook with you.
Lastly, make sure your computer security software and firewalls are up to date. Encrypting files and using password-protected documents will give you added protection. When shopping online look for https:// in web addresses. The “s” signifies a secure link.
January 30th, 2012 — Personal Insurance, Sign Of The Times
November 18th, 2011 — Annuities, Sign Of The Times
Looking at an annuity? You’re not the only one. Annuities are becoming more popular, according to a new study that looked at how retirees are rolling over retirement plan assets.
When you leave a company or retire, you have the option of rolling over money that’s in your retirement plan, such as a 401(k) plan. But what do you roll it into?
Rollover retirement money is more likely today than it was in 2000 to go into an income arrangement, such as an annuity, according to a new study by Spectrem Group.
In 2000, about 4% of retirement assets that rolled over went into an income strategy. That number is 11% as of 2011. Moreover, of that money in 2011, 30% went into annuities. The rest went into systematic withdrawal plans, structured portfolios or other solutions.
As you may know, an annuity is a contract between an investor and a life insurance company. You give the life insurance company a sum of money, either up front or as a stream of payments, and in exchange the life insurance company guarantees you a stream of payments for a specified time period, sometimes life.
Annuities may appeal to more retirees because they can potentially help protect seniors from the risk of outliving their retirement savings. An annuity can have two potential benefits. It can give retirees an idea how much income they will receive in retirement, and it can help provide a retiree with a measure of protection from investment losses, which are very, very real in today’s volatile markets.
November 10th, 2011 — Annuities, Sign Of The Times
November 9th, 2011 — Annuities, Sign Of The Times
The summer of 2011 brought plenty of drama, with the debt-ceiling debate, the downgrade of U.S. debt and concerns about European debt all sending the stock market significantly lower.
It wouldn’t be surprising, given the market mayhem, to hear that financial advisors are juggling calls from worried clients. But many aren’t, because their clients invested in annuities.
An annuity is a contract between an investor and a life insurance company. You make a payment to the life insurance company, either in a lump sum or in a series of transactions, and in exchange the life insurance company offers you an ongoing stream of income at some point in the future.
Because fixed annuities promise guaranteed income payments, in good times and bad, investors who have purchased them don’t have to worry about market volatility.
That’s why sales of annuities have risen significantly in today’s market environment. They were up more than 16% to $60 billion in the first quarter of 2011, according to industry research group Limra. And, sales may rise even more.
In June, the Government Accountability Office, the investigative arm of Congress, suggested that some investors could benefit from buying fixed annuities rather than trying to manage their money themselves.
If you’d like to maintain a certain level of income, then an annuity might be worth consideration. But note that annuities can be complex, meaning it’s a good idea to have the assistance of an advisor when researching options and purchasing one.
