How to save money on your disability income insurance policy

There are three ways to keep the cost of disability insurance down:

1. Electing a longer waiting period before benefits begin
   If you have enough resources to cover expenses during the first three months of disability, your premiums will be lower than with coverage that starts after 30 days.
2. Electing a shorter benefit period
   In this case, benefits are payable to age 65—the age at which you would normally retire—instead of for a lifetime. However, choosing a benefit period of two-to-five years, ending before normal retirement age, could be penny-wise and pound-foolish. You might save money on premiums, but you could be without coverage when you need it most. Disability of long duration poses the greatest financial hardship.
3. Shop your policy Let us compare insurance quotes at some of the nations leading insurance carriers. Call us today at (561) 932.0999
4. Visit us at:  www.InsuranceAwaitsYou.com

What is the required amount of auto insurance in Florida?

In Florida, to purchase a tag, you must carry:

• A minimum of $10,000 of personal injury protection (PIP)
• A minimum of $10,000 of property damage liability

However, Florida’s Financial Responsibility law requires drivers to be financially responsible for bodily injuries to limits of $10,000 per person with a maximum of $20,000 per accident. If a driver or owner of a vehicle does not have sufficient cash reserves to meet the financial responsibility requirement, it is a very good idea to purchase Bodily Injury Liability.

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West Palm Beach 561.932.0999

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Do I need Life Insurance?

To determine your need for life insurance, answer the following questions:

• Are there people who depend on you financially?
• If you provide services such as child care, cooking, shopping, and cleaning for your family, who will provide these services if you die?
• Are there Estate Planning concerns?

If so, life insurance can provide for their needs if you should die. The proceeds from a life insurance policy can also help pay off debts such as your mortgage or other financial obligations you may leave behind.

For most people, the need for life insurance is greatest after starting a family or buying a home. The need decreases as the children grow up and become independent and mortgages are paid.

Call us today for your free, no obligation consultation. 561.932.0999

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What are the different types of annuities?

Types of Annuities that West Palm Beach Clients typically purchase Include:

• Single Premium:
  An annuity that is purchased by paying one lump sum to the insurance company as premium.
• Flexible Premium:
  An annuity that is purchased by paying multiple premiums to the insurance company.
• Immediate Annuities:
  With an immediate annuity, you pay a single premium and immediately start receiving payments at the end of each payment period, which is usually monthly or annually.
• Deferred Annuities:
  A deferred annuity is established by you paying one or more premiums over what is referred to as accumulation period. The premiums you pay and the interest credited to the premiums goes into a fund called an accumulation fund. There may be a minimum guaranteed interest rate at which your money will accumulate during the accumulation period. The annuity payments you will receive begin at a future point in time called the maturity date. You will receive payments during a time period called the payout period. You do not pay income taxes on the interest earned during the accumulation period unless you withdraw funds from its cash value. These taxes are deferred until the payout period.
• Fixed Annuities:
  A fixed annuity provides fixed-dollar income payments backed by the guarantees in the contract. You cannot lose your investment once your income payments begin. The amount of those payments will not change. With fixed annuities, the company bears the investment risk.
• Equity Indexed Annuities:
  Is an annuity, either immediate or deferred, that earns interest or provides benefits that are linked to an external equity index, such as Standard and Poor’s 500 Composite Stock Price Index. When you purchase an equity-indexed annuity, you own an insurance contract not shares of any stock or index.
• Variable Annuities:
  Variable annuity investments are securities, which tend to fluctuate with economic conditions. The value of a variable annuity depends upon the value of the underlying investment portfolios associated with the annuity. The owner bears the investment risk for the value of the security. The value of the annuity will increase with a favorable investment performance of the security. The annuity’s value will decrease with a poor investment performance. In fact, you can lose your investment. A product receives the classification of a variable annuity if the value during either the accumulation period or the payout period depends on the value of the security. Some variable annuities provide a choice of either a variable payout or a fixed payout.

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What is an annuity?

Annuities primarily offer a source of income, either now or at a set future date, such as retirement. An annuity can also have a tax advantage. For example, a deferred annuity accumulates tax-deferred interest until you withdraw the funds.

An annuity is a series of payments that acts similarly to a savings plan to provide primary or supplementary retirement income. An insurance company pays annuity benefits while you are alive (except for fixed-period annuities).

You can convert some life insurance policies into annuities by taking the cash value of the insurance policy and buying the annuity contract that best suits your needs. An annuity also has a tax advantage. For example, a deferred annuity accumulates tax-deferred interest until you withdraw the funds.

With access to a myriad annuity/ life insurance companies we have the ability to find the annuity that fits your needs. Let us find you the perfect annuity fit. Call us today at 561.932.0999

Do I need Business Insurance for my Home Based Business?

Contrary to popular belief, homeowners’ insurance policies do not generally cover home-based business losses. Depending on risks to your business, you may add riders to your homeowners’ policy to cover normal business risks such as property damage. However, homeowners policies only go so far in covering home-based businesses and you may need to purchase additional policies to cover other risks, such as general and professional liability.

Call us today at 561.932.0999 to get a free no obligation quote for your business insurance needs.

What is Medicare Insurance?

A Medicare Supplement Insurance Policy (aka Medigap) is private health insurance designed to supplement Original Medicare Insurance. It pays some of the health care costs that Medicare Insurance doesn’t cover such as copayments and deductibles. Medigap insurance policies may also cover some services not covered by Medicare Insurance. If you are enrolled in Medicare and you have a Medigap insurance policy, Medicare will pay its share of their approved amount for a covered heath care costs. Then your Medigap insurance policy pays its share. Every Medigap insurance policy must follow State and Federal laws designed to protect you, and it must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can only sell a “standardized” plan identified by letters A through L. All standardized insurance policies must offer the same basic benefits, no matter which insurance company sells it. Cost and Service is the only difference between policies sold by different insurance companies.

Insurance policies purchased before January 1, 2006 may include prescription drug coverage. If you have a Medigap insurance policy without prescription drug coverage, you can join a Medicare Prescription Drug Plan without changing your Medigap insurance policy.

We can help you find the right Medicare Supplement Insurance. We have an insurance office in West Palm Beach, Florida to serve your needs. Contact us today to find the right insurance policy for you.

561.932.0999

How do I REALLY save money on my auto insurance policy?

How to save money on your West Palm Beach Auto Insurance:

Automobile owners can save auto insurance premium dollars in a variety of ways. The following are some factors that can affect premiums, and ways you may be able to save:

>> Type of vehicle. Newer, more expensive cars are more costly to repair or replace, and insurance prices reflect this.

>> Territory. Where you keep and drive the vehicle, population, and the number of accidents in an area can all affect risk. This is why drivers in heavily populated cities will generally pay more for insurance than rural drivers.

>> Usage. Someone who drives fewer miles, say only to work or for pleasure, will pay lower rates than someone who puts many miles on or uses their vehicle for commercial purposes.

>> Gender. Statistics show that men have twice as many fatal accidents as women. Insurance companies typically charge higher premiums for males, especially those younger than 25.

>> Age. Statistically, Florida drivers younger than 25 or older than 65 make up a larger share of people involved in accidents, and may pay higher premiums.

>> Credit history. Insurance companies are permitted to use credit history as one of the that determine risk, and therefore premium cost.

>> Mature Driver. If you are 55 or older, you may qualify for a discount by successfully completing an accident prevention course. For more information, contact the AARP at 1-888-687-2277. Or the National Safety Council at 1-800-621-7615.

>> Retired? If you have retired or otherwise do not earn wages, you may reduce your premium by excluding coverage for lost wages.

>> Deductible. You may increase your deductible in order to reduce your premium, but you should carefully consider such factors as how much of a discount you will receive for a given deductible, and how much you can afford to pay for each claim.

>> Good driver discounts. Many companies offer discounts to policyholders with accident free driving records and violations for an extended period of time.

>> Older Vehicle. You may drop collision and/or comprehensive coverage on older vehicles because of their decreased value, unless a lien holder, such as a bank, requires it.

>> Restraint Systems and Anti-theft Devices. Companies may offer discounts for certain equipment such as anti-lock brakes, air bags, anti-theft devices or vehicle-recovery systems.

>> Nondrinker and Nonsmoker. A few companies offer discounts for drivers who refrain from drinking alcohol or smoking tobacco products.

>> Of course the biggest way to save on your auto insurance is to have us comparison shop your auto insurance quotes. We will find you the best insurance quote for your auto insurance needs.

Call today at 561.932.0999 and we will shop your insurance policy to find you the best available rate.

Florida Insurance…A Better Way

At Insurance Awaits You, We work for you, helping you to find exactly the right insurance at the best possible price, regardless of carrier (working with only A rated  firms).  Some of our clients are interested in the best price while others have a particular insurance company that they prefer to do business with, or specific policy terms, regardless, we are experts at finding the best company, terms or price to fit your specific needs.

We will take the time to price all the carriers, then break down the pros and cons of each company’s offer.  No matter what your insurance needs are, we are here to help you.  Call us today at (561) 932-0999

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