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10 Ways to Pay for Your Life Insurance

Think life insurance is “TOO EXPENSIVE”???  Well it’s really not.  Even if you get a 10 year term policy for $150,000 your rate is going to be between $20-$100/month depending on your age, nicotine use, driving record, and overall health. To put it bluntly your cell phone and your cable bill are easily $100/mo each if not double that.

So for the budget conscious let’s look at some options.  I use that term budget conscious loosely, because if you’re spending $200-$300/month between your cable and cell phone you should be able to spend a few dollars on YOUR FAMILY and protecting them.

1. Create a budget. Track your expenses: knowing where your money is going may help you identify areas where you can easily reduce your spending. There are many free money management tools and apps that can assist you with this.

2. Quit smoking. It benefits your health, and a pack-a-day smoker can save over $2,000 per year based on the average cost of a pack of cigarettes. Non-smokers can also expect lower life insurance rates – all other factors being equal – than smokers.

3. Bring your lunch to work. By not spending just $5 a day you are looking at saving about $1,200 a year. You don’t have to bring your lunch every day: even bringing your lunch every other day can result in savings that can help cover the cost of a life insurance policy, and possibly even more.

4. Eat out one less time per month. If it costs you about $30 on average each time you go out, reducing this number by once a month will allow you to save over $300 a year. If you eat out and have 2-3 children with you this figure will be even more staggering.

5. Bring coffee from home.  Do you spend $3 a day on coffee during the work week? If so, this can add up to $720 per year. Cutting this number in half can result in significant savings.

6. Save your loose change. It may not sound like much, but setting aside fifty cents a day over the course of a year will allow you to save more than $180.

7. Take advantage of all company benefits and discounts. Your company may offer corporate discounts on gym memberships, cell-phone data plans, hotels, concerts, etc. that can help you save.

8. Organize your closet and garage. This can have a number of advantages. You can save time in the long run knowing where everything is located, and you may find forgotten items, reducing the need to purchase new ones. Consider consignment for items you no longer want to keep.  Go ahead and donate old and unwanted/unused items and write that donation off on your taxes.  If you are the type of person to hold a garage sale, you can sell those items for cold hard cash.

9. Research major purchases. Check product reviews, price comparisons, features, and other aspects of any product you are looking to purchase. Wait for sales for additional savings and discounts. A little research and timing can save big on a purchase.

10. Start small to save big. Starting with some small steps, you can easily find the money to pay for life insurance.

 

The hardest part of any change is getting started. Once you do, things usually start to fall into place, the process becomes much easier, and you can begin to recognize the positive impact it has on your life.

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Don’t Be “Cheap” when it comes to insurance coverage. The worst scenario is being under-insured when you have a large claim.

You pay a lot for insurance coverage; when you have a claim you want adequate coverage and not have to come out of pocket more then your deductible. 

One of the biggest fallacies is that consumers only care about getting better rates.
Here are things that you as a consumer should know:

  • Property prices are increasing and people want to protect their investments
  • Most properties in the California fires were under-insured, probably to reduce premiums
  • Clients WILL PAY more for better coverage. Often their current agent/company hasn’t reviewed their policies and the client has too little coverage
  • We will pointing out the facts to you while being professional and we will win your business

The mortgage industry lost trust of mortgage brokers after the 2008 mortgage crisis and many lost their jobs. We pledge not to this happen to the insurance industry! We will help you evaluate your risks and gives you an abundance of information to help you select the proper coverage, insure to value, and select appropriate premium.

Call, text, click or email for your personal or business insurance review today.
Auto: https://farmerskc.wufoo.com/forms/k1k5v5jm1v0nvnr/
Home: https://farmerskc.wufoo.com/forms/xhkisc70sllksw/
Life: https://farmerskc.wufoo.com/forms/zfmqeo81f1s9l6/
Business: https://farmerskc.wufoo.com/forms/zgmy4rd1knkaqw/

 

 

 

Does Homeowners Insurance Cover Dog Bites?

When you think of homeowners insurance your probably do not think of your pets harming a child or other animal, however this is a leading cause of liability claims under your homeowners policy.

Below is an excerpt from a local Lee’s Summit Dog Trainer’s Blog.  Follow Debra Murray for more info:

DOG BITE PREVENTION WEEK

According to the American Veterinary Medical Association, 4.5 million people are bitten by dogs each year. This number is especially disheartening since most dog bites are preventable. Dog awareness and advocacy, as well as responsible pet ownership, is where dog bite prevention begins.

1. Dog Awareness: That little phrase packs a lot of punch! Dog awareness starts with educating yourself on the basics of canine communication. It continues with seeking to be well-informed about our canine companions. If your knowledge comes from tv “experts”, your neighbor, and personal opinions, then you’ve got some more investigating to do. Dog behavior is a science. There are numerous myths and hypothetical postulations that have sadly spread like wildfire over the years. If you’re still in the dark ages believing dogs are trying to dominate their human families and be the pack leader, then that’s a good place to start looking into recent scientific discoveries. Everyone benefits from continuous growth in dog awareness.

2. Dog Advocacy: I hope you won’t be able to continue business as usual once you begin increasing your dog aware skills, and have a better understanding of man’s best friend. The humane thing to do is start advocating for, at the least, your own dog. When you recognize distress, fear, nervousness, anxiety, etc., then do your best to appropriately guide your dog. Don’t rely on their remarkable tolerance to prevent growls, snaps, snarls and bites. Kindly remove them, or the stressors that cause discomfort. You can go a step further and enlist a positive reinforcement trainer or veterinary behaviorist to guide you in improving your dog’s emotional responses.

3. Responsible Pet Ownership: This not only includes providing for the basic needs of your pet, but also forming realistic expectations. All dogs have teeth. All dogs can bite. Expecting your dog to tolerate consistent distressful situations without repercussion is irresponsible. Even our good family dogs can snap or bite when their tolerance levels are exceeded, combined, or overlooked. If you already have a dog that exhibits aggression, fearfulness, reactivity, etc., then you should take precautions to ensure the safety of your pet and others.

Pursuing the above goals will not only aid in the prevention of dog bites in your community, but also put us on a better path to becoming dogs’ best friends.

For the YouTube Video: https://youtu.be/nSPGLlLPJxY
For the full article:
https://www.smartypaws.net/blog/67-national-dog-bite-prevention-week-2018.html

 

Procrastination Never hurts….

I heard some terrible news today from a friend and it’s just another reminder why insurance, and having the right insurance is so important.
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Have you ever tried to buy an auto policy after your carrier already told you your rates are going up because of an accident?
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Have you ever tried to buy homeowners or flood insurance when the hurricane is already en route to your house?
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Have you ever tried to buy health insurance after you were diagnosed with a life changing illness?
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Have you ever tried to buy life insurance after a heart attack or catastrophic diagnosis?
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Today I was told by a friend of mine that someone was three days away from the period of time it would take for their life insurance policy to pay out, three days.
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Did you know that if you try to buy life insurance when you have cancer sometimes you have to buy a policy with a “graded death benefit?”
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That means if you die within what’s usually the first two years, all you get back is your premiums or maybe all the premiums you paid back at 110%.
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However if you buy an insurance policy BEFORE something happens, maybe even a convertible term policy while you’re still health you won’t be in that situation.
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Convertible term allows you to purchase based on your health TODAY and then in five or ten years (usually when your income has increased or you’ve paid off your debts) you can convert all or a portion of that policy into Whole Life or a more permanent insurance policy.
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Want to know more about this?
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We can talk about when you have time.
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However you don’t want to wait until AFTER you’ve been diagnosed to make a decision, and have to deal with much higher premiums and much more limited options.
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Let me help you find peace of mind.
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Or answer any questions you may have.
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Click the link below to get your own coverage, today.
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https://farmerskc.wufoo.com/forms/zfmqeo81f1s9l6/

 

Have you heard of Umbrella Liability Coverage? Here’s a couple of reasons why you might want to purchase a policy-

There is a large difference between “Having Insurance” and “Being Insured”
In each of these scenarios, a person’s “normal insurance coverage” would have been exhausted and they would have been forced to liquidate bank accounts and other assets to pay for the damages awarded.

5 Actual Claims On A Personal Umbrella Policy

Example Claim # 1: A babysitter left a 5 month old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
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Example Claim # 2: An insured’s daughter hated math class as well as the teacher. The daughter made several “disparaging” and false remarks about her teacher online. The teacher sued the parents for personal injury and $750,000 was paid.
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Example Claim # 3: The insured’s 18 year old son was driving the insured’s car on a short trip to the store with his girlfriend. He lost control of the car and struck a tree. The insured’s son told the police that a vehicle cut him off, but there were no witnesses and no evidence of any impact with another car. His girlfriend, a 19 year old college student, was hospitalized for over a month with multiple fractures and internal injuries. She was in a wheelchair but is now able to walk with crutches and continues with physical therapy. She has a right drop foot as a result of the injuries. The insured’s personal umbrella policy limit of $2,000,000 was paid.
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Example Claim # 4: A 28-year old engineer dove into a friend’s above ground swimming pool struck his head on the bottom and, as a result became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000.
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Example Claim # 5: The insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.

Storm Season–Hail NO!

HailIt’s storm season here in KC. A couple of things to remember when it comes to roof damage/home claims.

1. It’s still fraud to not pay the deductible on your home.
2. The only way the roofer can make a profit without getting the deductible from you is to inflate the claim amount.
3. Inflated claims means your premiums are going to continue to be inflated each year.

Think about these items if you have a claims scenario. Reach out if you have any questions or if we can help.

If you’re a homeowner and think you have damage from a storm, be sure to remember these tips–

 
» Call your insurance company as soon as possible if you see or suspect damage.
 
» When considering contractors, do your research and get multiple bids.
 
» Be EXTREMELY cautious of door-to-door solicitors offering free inspections. Some might be reliable local companies, but be sure to check online reviews.
 
» NEVER pay a contractor in cash or before work is completed.
 
»Keep a record of transactions, including bid proposals (revisions) from contractors and conversations with the insurance claims representatives.

#StormDamage #InsuranceTips #HomeownersInsurance #InsuranceKC

Summertime=HOT! Make sure your employees are protected.

Hot summer weather can lead to heat stroke for employees working outdoors
It’s getting hot outside!
Every year, dozens of workers die and thousands more become ill while working in extreme heat or humid conditions according to OSHA.

There are a range of heat illnesses that can affect anyone, regardless of age or physical condition.
If your commercial policyholders have employees working in extreme heat and high temperatures, a heat illness prevention program should be established.
 OSHA’s Occupational Exposure to Heat page explains what employers can do to keep workers safe. The page also includes resources for specific industries and OSHA workplace standards.
Business Insurance customers should educate workers and supervisors about the hazards of heat exposure and their prevention.
Topics should include:
  • How to recognize common signs and symptoms.
  • Heat-related illness prevention procedures.
  • Drinking small quantities of water often.
  • Importance of acclimatization.
  • Immediate reporting and responding to signs or symptoms.
Policyholders can also have vital safety information immediately available with the OSHA-NIOSH Heat Safety Tool.  This App allows them to calculate the heat index for their worksite, and, based on the heat index, displays a risk level to outdoor workers.
to download the app.
Already a Farmers Insurance Business Client?  Enhance your Safety Program? Register at www.MySafetyPoint.com

What to do in the event of a water loss

 Whether the water loss is a result of a broken pipe, a broken water heater, or flooding, there are actions you can take to prevent further damage to your home or business.

1. Stop the Water and Turn Off the Utilities. Shut off the water main valve immediately if the water is a result of something broken inside your home or business.  It is a good idea to make sure everyone in the household or designated employees within the business knows where the shutoff valve is located.  In case of a major water event, turning off the power or natural gas might be necessary to ensure the safety of yourself and your family or employees. Turning off the power will ensure the prevention of electrocution of any appliances that may be in the affected area. If the water event is minor, there may not be a need to shut off any utilities.

2. Get the Water Out Quickly and Use Fans to Circulate Air

Quickly cleaning up of as much water as possible can prevent further damage.  This can be done by mopping or using any available towels to wipe up the water.  If fans are available, strategically place them to circulate the area to assist in drying. This is extremely important immediately following the loss and within the first 24-48 hours.  A reputable restoration company can also assist in the extraction and drying of water damage. Call us for a referral.

3. Get Property to a Dry Location and Don’t Throw Anything Out

If possible, remove any area rugs to prevent any possible staining of the floor and move contents to a dry area. Put furniture on blocks or slide a square of aluminum foil under furniture legs to prevent any further damage to the furniture or the flooring that the furniture is sitting on.  This would be a good time to conduct an inventory of the damaged property.  Do not throw anything out until the claims adjuster has had an opportunity to inspect the scene.  Photos are also recommended.

4. Call us ASAP.

We are your liaison between yourself and Farmers. We will be able to give you advise on coverage as well as the claims process, including your deductible.  If it’s in your best interest to file the claim, we will help you submit the claim ASAP.  The claims team will provide you further direction as to what your next steps will be.

 

Insurance Tip-Act NOW!

INSURANCE TIP__
Just a reminder to disconnect your garden hoses if you haven’t already! The Weather Service predicts lows in the single digits so to prevent freeze damage to your hose spigot, disconnect the garden hose so the spigot can drain properly. If the spigot does freeze and burst the pipe, you may not be aware of it until next spring when you use the hose again. A ruptured pipe can do significant damage in a very short period of time. An ounce of prevention can save thousands of gallons of water in your basement! We want you to keep your deductible and not spend it on home repairs!
Regards and stay warm!