August 2016 

The Latest In Health Insurance, Personal & Business Insurance
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Why Do You Need An Umbrella Policy?

Umbrella Insurance provides extra protection, or limits, above the liability insurance you currently have.  Umbrella coverage can protect against bodily injury liability and property damage liability as well as slander, libel, malicious prosecution, shock, mental anguish, false arrest, detention, or imprisonment, among other personal liability situations.

Umbrella Insurance also potentially protects you and your family from the actions of your household family members.  For instance, your teenager uses poor judgment on social media, and it results in a lawsuit.
For about $150 to $300 per year, you can buy a $1 million personal umbrella liability policy.  The next million will cost about $75, and $50 for every million after that.

Why a Personal Umbrella May Be Right for You

Here is an example.  John Smith fell asleep while driving and hit a van with a family inside.  The accident resulted in $600,000 of medical bills, but John Smith's auto policy had a $500,000 limit.  Fortunately, John Smith also had a $1,000,000 umbrella policy, and the additional $500,000 was covered under the Umbrella.

It is true that Umbrella Insurance may not be for everyone, but if you are building financial resources for your future, are a professional, own your home, or own a boat or recreation vehicle, you should consider an Umbrella Insurance policy.  For a few hundred dollars or less, isn't it worth protecting your future?

Benefits of Life Insurance

Are you one of the people who think you don't need lifer insurance? Please think again. Life insurance provides real security for those you care about. Life insurance benefits can provide financial security and resources for your family or loved ones after you are gone. Let's look at a few of the reasons to consider life insurance:

  • Payment on Debt- If you have any outstanding debt (mortgage, credit cards, etc.) at the time of your death, it does not go away. Your estate will still be responsible to settle all accounts. Life insurance can provide the financial resources to cover debt.
  • Continuation of Income- Life insurance can provide the funds to replace your income upon your passing. Family income will certainly diminish with the loss of an income earner, which means your family will experience a lower standard of living. The death benefits of a life insurance policy can prevent this from happening, or at least keep the impact to a minimum, by replacing income lost with the demise of the breadwinner.
  • Unpaid Medical Expenses- It is highly likely that you will incur medical expenses prior to your death. Some of which may not be covered by health insurance. Adequate life insurance proceeds ensure that these final expenses are covered.
  • Funeral Expenses- Most people don't plan for, or fund, funeral expenses.  Again life insurance is there to help.