Tuesday, February 28, 2012

2012 Safe Vehicles List

Top Safety Picks 2012

IIHS and HLDI logos
To determine crashworthiness — how well a vehicle protects its occupants in a crash — the Institute rates vehicles good, acceptable, marginal, or poor based on performance in high-speed front and side crash tests, a rollover test, plus evaluations of seat/head restraints for protection against neck injuries in rear impacts. To earn Top Safety Pick for 2012 a vehicle must have good ratings in all four Institute tests.

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Monday, February 27, 2012

Personal Umbrella

Why Purchasing a Personal Umbrella Policy is a Wise Decision

One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one. This policy provides high limits of liability to protect you against a catastrophic liability loss. It pays after your homeowners or personal auto policies’ limits have been exhausted. For example, a major car accident in which you severely injure several persons can result in damages easily exceeding your personal auto policy’s liability limits. Losses that result in injuries to numerous people, head injuries, and death are often covered by a personal umbrella policy. In addition to providing higher limits, this policy normally pays for some losses not covered by the underlying policy, such as legitimate allegations concerning libel or slander.

Personal umbrella policies are growing in popularity. In the past, only wealthy individuals and families purchased this coverage. Today, middle-income families also may procure this policy for protection in our society’s increasingly litigious climate. As the tendency to sue for damages rises and awards granted by the courts grow, the personal umbrella policy is increasingly seen as an insurance necessity, rather than a luxury. It is especially attractive because of its relatively low cost.

In particular, you should consider purchasing a personal umbrella policy if you have certain
characteristics or engage in certain activities, including the following.

●       Your total assets are greater than your underlying liability limits.

●       You are financially responsible for the actions of a young, inexperienced driver.

●       You live in an exclusive and affluent neighborhood.

●    You have a high profile career or high income.
   
           ●       You frequently host guests on your property.

●       Your residence includes a swimming pool.

●       You own waterfront property, a farm, or a ranch.

●       You own watercraft or aircraft.

●       You own numerous rental properties.

●       You engage in extensive international travel for pleasure.
International Risk Management Institute, Inc.
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Sunday, February 26, 2012

The Right Life Insurance…for You

Life insurance is often considered essential to individuals who have dependents.

But what kind of life insurance do you need?
If you have a spouse, children or other family members who are dependent on your income, you’ll likely want to be sure they’re provided for in the event of your death - meaning you may want life insurance.

There are many types of policies, but they essentially fall into two categories: term life insurance and cash-value life insurance.

Term Life Insurance
With a term life insurance policy, you pay an annual premium, and in exchange, an insurance company promises to pay a death benefit to your beneficiaries if you die while the policy is in effect.

Cash-Value Life Insurance

With a cash-value life insurance policy, only a portion of your premium is applied to your death benefit. The remainder is allocated to another component of the policy called the cash value. Depending on your policy, your cash value could be invested in something akin to a savings account with interest paid by the insurer.

Advantages

Both types of life insurance have advantages.

A term life insurance policy provides the highest death benefit for your premium dollar, which frees up more of your money for other things such as saving for retirement.

On the other hand, the cash-value policy lets you save through your life insurance policy.

Whichever type of policy you decide is suitable for your individual circumstances, you’ll want to make sure your beneficiaries understand your policy’s payout in the event of your death. Such a payout may amount to more money than they’ve ever seen, so you’ll want them to be prepared to obtain the maximum benefit from any payout.
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