Life Insurance Awareness Month
By Mandi Henson
As some of you may already know, September is Life Insurance Awareness Month. In an effort to raise awareness locally, I would like to take a moment to share with you some life insurance facts.
On top of offering financial protection for those you love upon your untimely passing, life insurance – depending on the policy – can also grow cash value and can be used by your beneficiaries for a variety of other costs including retirement, education, or even provide cash in emergency situations. In the event that the individual securing the coverage owns a large estate or business, this life insurance can settle the estate and allow the business to continue operating long after they are gone. This makes the transition easier for those left behind including business partners and employees. The key is understanding what type of insurance best suits your needs.
Do college students need renters insurance?
By Cherri Plummer
Sending your kids off to college for the first time is stressful enough without the hassle and distress of the potential theft or loss of items such as laptops, musical instruments, and bicycles, for example. If your son or daughter loses his or her valuable items what coverage do you have – or more importantly - what coverage should you have? Do they need renters insurance or are these items covered under your homeowners' insurance?
Riding the storm
By Leslie Caveny
As we’ve seen in recent months, in Central Illinois, storms can cause a lot of damage to property, vehicles and businesses.
Like thunder and lightning, hail can rain down any time of the year, but as people living in the plains can testify, these storms tend to be at their peak during summer.
The Midwest and plains states see more tornadoes than the west or east. To prepare yourself for Mother Nature's wild conditions, visit Ready.gov, which is a website maintained by FEMA.
It’s all about relationships
By Carl Weitzel
When working with new businesses, I like to gain a holistic view of the owners. It’s important to find out how they started, where they are now, and how they got there. Most importantly, I want to talk about their plans for the future. Only then do we look at insurance issues. On rare occasions, I will find a potential customer is properly covered and is paying a fair price. If that’s the case, it’s important to be transparent about their current policy, which engenders trust.
However, in most cases, I find there is a disconnect between the policy and the business activities because of growth or the changing environment. In other words, the older coverage is no longer fit for its intended purpose, yet has been renewed year-after-year. If a loss occurs and the policy is needed to cover that loss, this can result in unnecessary stress for the business owner.