According to the US Bureau of Labor and Statistics, the unemployement rate in my home state of Pennsylvania hit 7.5% in February. While this indicates that Pennsylvania has fared better than many other states (Michigan 12%, South Carolina 11% etc...) it offers little comfort to the newly unemployed. So how can you cope?
1. GET MAD. Cry, grieve, throw things (safely), scream. Do it right away and get the initial feelings out of your system. You are entitled to do this. And then take a deep breath and take the next step.
2. SHARE YOUR SITUATION WITH FAMILY AND FRIENDS. Do not take your anger and frustration out on them. Focus on as much good as possible. Make a conscious effort to keep this situation out of your mind for a while each day. Hug whenever you can. (Seven hugs a day keeps you emotionally healthy).
3. DO NOT GO SHOPPING. This is not going to help you feel better. If you don’t already have a budget, do one right away. Obviously, there are going to be financial changes and challenges. Put all your credit cards away. Be frugal.
4. APPLY FOR UNEMPLOYMENT BENEFITS AS SOON AS YOU CAN. Preferably apply online since the employment offices are crowded and understaffed now. If you are lucky enough to have gotten severance pay and other benefits, hold off on applying for state benefits as long as you can. Be aware that your income is not going to be as much as it was.
5. FIND A JOB LOSS SUPPORT GROUP. You aren’t the only one who is suddenly in this situation. And while your friends and family will be there for you, it’s good to share thoughts and job-hunting tips with folks that you aren’t emotionally connected to.
6. START LOOKING AND APPLYING FOR JOBS RIGHT AWAY. This is your ‘new’ job. Get up on time, dress for ‘work,’ and stick to a schedule. If you read the job opening sites on the internet, do that as part of your regular schedule. Get your name in at every temporary agency in your vicinity. Think outside your area of ability or expertise. Take some chances and explore new avenues.
7. GO TO MEETINGS OF CLUBS YOU BELONG TO. In other words, NETWORK! Religious institutions, fraternal organizations, volunteer groups are good places to let people know that you are on a job search. Do a brief resume and have it on a postcard that you can give people you talk to. Create a business card that lists your skills.
8. STAY BUSY! Maybe this is an opportunity to volunteer at your child’s school (if you are usually a working parent), or at a community service organization. Think outside the box. Make an uncomfortable situation work for you. Keep the negative thoughts as far away as possible.
Wednesday, April 15, 2009
Tuesday, April 14, 2009
Prom Night Tips for Parents
This is a good article designed to keep your teen driver safe during Prom Season written by Master Police Officer James Poer. Please read it and share it with your teen.
Prom night is probably one of the most anticipated nights of the year for teens and perhaps one of the most anticipated yet somewhat dreaded nights for their parents. Prom night makes teens look and feel more grown-up, but it doesn't necessarily make them behave more maturely.
Most teens heading off to their prom will tell their parents that they know everything they need to know about drinking and driving, and any other concerns their parents may have.
Unfortunately too often prom night is linked with drunk-driving injuries, deaths, date rapes, and pregnancies. It has become the night where teens' more often demonstrate poor judgment and make dangerous choices.
The following tips may ease prom anxieties:
Know and discuss the school code of conduct before the prom with your child.
Find out whether the school code of conduct applies to off-site functions that have been approved by the school.
Know who your child is attending the prom with and obtain their cell phone numbers. Discuss the events for pre and post prom parties with other parents. Find out where they are located and who is responsible for maintaining good behaviour.
Talk with your child about the dangers of club drugs, warning signs and who to notify for assistance.
Pre-plan and role-play answers that your child can use to get out of uncomfortable situations. (e.g., offered alcohol, getting a ride from an intoxicated driver, unwanted sexual advances,etc.)
Discuss guidelines and a curfew. Discuss the consequences of violating these rules.
Discuss travel plans, use a reputable limousine service that will not allow a person to bring or serve alcohol in the vehicle.
Know who is driving to the prom and who will be a passenger. Limit the number of passengers to increase safety and reduce driver distractions.
Talk to your teenager about the serious dangers and consequences of underage drinking and driving.
If your child's plans change, confirm the change with the parents of other children. Remind your child that you are there for them, if they need a ride home or to an after prom affair.
Master Police Officer James Poer has investigated countless accidents over the past 30 years. He is also a parent of 4 drivers and his experience and advice is priceless. You can read his blog at http://www.parentalcourage.com/.
Prom night is probably one of the most anticipated nights of the year for teens and perhaps one of the most anticipated yet somewhat dreaded nights for their parents. Prom night makes teens look and feel more grown-up, but it doesn't necessarily make them behave more maturely.
Most teens heading off to their prom will tell their parents that they know everything they need to know about drinking and driving, and any other concerns their parents may have.
Unfortunately too often prom night is linked with drunk-driving injuries, deaths, date rapes, and pregnancies. It has become the night where teens' more often demonstrate poor judgment and make dangerous choices.
The following tips may ease prom anxieties:
Know and discuss the school code of conduct before the prom with your child.
Find out whether the school code of conduct applies to off-site functions that have been approved by the school.
Know who your child is attending the prom with and obtain their cell phone numbers. Discuss the events for pre and post prom parties with other parents. Find out where they are located and who is responsible for maintaining good behaviour.
Talk with your child about the dangers of club drugs, warning signs and who to notify for assistance.
Pre-plan and role-play answers that your child can use to get out of uncomfortable situations. (e.g., offered alcohol, getting a ride from an intoxicated driver, unwanted sexual advances,etc.)
Discuss guidelines and a curfew. Discuss the consequences of violating these rules.
Discuss travel plans, use a reputable limousine service that will not allow a person to bring or serve alcohol in the vehicle.
Know who is driving to the prom and who will be a passenger. Limit the number of passengers to increase safety and reduce driver distractions.
Talk to your teenager about the serious dangers and consequences of underage drinking and driving.
If your child's plans change, confirm the change with the parents of other children. Remind your child that you are there for them, if they need a ride home or to an after prom affair.
Master Police Officer James Poer has investigated countless accidents over the past 30 years. He is also a parent of 4 drivers and his experience and advice is priceless. You can read his blog at http://www.parentalcourage.com/.
Monday, April 13, 2009
Use Hobbies to Prepare Your Teen to Become a Better Driver
I devote a lot of time to thinking about how we can make teens recognize the risks associated with driving and influence them to respond appropriately to situations affecting their control of the car.
In order to teach anyone a skill, you first have to get their attention. Too often the local news provides a tragic example, but wouldn't it be better if we could focus our kids on improving their driving skills by associating it with a hobby they already enjoy.
Does your teen have a hobby that helps prepare him for driving? Almost every child rides bikes at some point in their life and that is an education in speed, braking, turning, parking and yielding. I recently learned how much showing horses had prepared a friend for being a good defensive driver.
Evidently in order to compete effectively you have to be very aware of your surroundings, position your horse to avoid being tail-gated or tail-gating others, and always be in control of your speed.
So when you sit down to discuss the many skills required to be a safe driver, try to reference things your kids already know how to do and build upon that foundation. Any hobby that makes your child a more mature thinker can also make him a safer driver.
In order to teach anyone a skill, you first have to get their attention. Too often the local news provides a tragic example, but wouldn't it be better if we could focus our kids on improving their driving skills by associating it with a hobby they already enjoy.
Does your teen have a hobby that helps prepare him for driving? Almost every child rides bikes at some point in their life and that is an education in speed, braking, turning, parking and yielding. I recently learned how much showing horses had prepared a friend for being a good defensive driver.
Evidently in order to compete effectively you have to be very aware of your surroundings, position your horse to avoid being tail-gated or tail-gating others, and always be in control of your speed.
So when you sit down to discuss the many skills required to be a safe driver, try to reference things your kids already know how to do and build upon that foundation. Any hobby that makes your child a more mature thinker can also make him a safer driver.
Friday, April 10, 2009
Attention Pennsylvania Remodeling Contractors!
...you only have until July 1, 2009 to register with the Pennsylvania Attorney General's Office. If you do not register by that date you will be in violation of the Pennsylvania Home Improvement Consumer Protection Act and prohibited from doing any work until such time that you do register. If you perform work while unregistered you will be subject to legal action and civil penalties. This applies to any remodeling contractor who does business in Pennsylvania.
When you register, you will be required to prove that you carry liability insurance. If you do not have liability insurance you will NOT be able to register.
If you need to get liability insurance for your remodeling business or you have questions pertaining to the registration process, please contact me at 717-763-7631. We represent two insurance companies who have excellent rates for remodelers; MMG Insurance and Erie Insurance. In fact, if you qualify, MMG will lock your rate in for THREE YEARS. Give us a call today and find out why over 400 contractors trust Consumers Insurance Agency to help them with their liability insurance needs.
When you register, you will be required to prove that you carry liability insurance. If you do not have liability insurance you will NOT be able to register.
If you need to get liability insurance for your remodeling business or you have questions pertaining to the registration process, please contact me at 717-763-7631. We represent two insurance companies who have excellent rates for remodelers; MMG Insurance and Erie Insurance. In fact, if you qualify, MMG will lock your rate in for THREE YEARS. Give us a call today and find out why over 400 contractors trust Consumers Insurance Agency to help them with their liability insurance needs.
Thursday, April 9, 2009
Man's Best Friend?
Don’t get me wrong, I love dogs. I grew up with them and and have owned 3 of them of my own. Our receptionist, Betty, likes dogs so much that if you come into our office, she’ll give you treats for your dog.
But did you know that dog bites currently account for one-third of all homeowner's claims? The Insurance Information Institute recently released statistics showing that dog-bite claims nationwide grew 10.5 percent from 2006 to 2007. In 2007, dog-bite claims paid by insurance averaged $24,511 each.
For that reason some insurance companies refuse to offer homeowners or renters insurance to people who own certain types of dogs. For instance, if you came to me to get homeowners insurance and you owned a Rottweiler, we would not be able to place you with Erie Insurance. Erie has great rates and is concerned that too many dog bit claims would force it to increase its prices.
My advice? Before buying a dog, check with your insurance company to see if it is on their prohibited dog list. At Consumers Insurance Agency, we represent, MMG, Travelers, Erie, and Farmers all of whom offer homeowners insurance at extremely competitive rates. Check with us first before jeopardizing your ability to get those prices in the future.
But did you know that dog bites currently account for one-third of all homeowner's claims? The Insurance Information Institute recently released statistics showing that dog-bite claims nationwide grew 10.5 percent from 2006 to 2007. In 2007, dog-bite claims paid by insurance averaged $24,511 each.
For that reason some insurance companies refuse to offer homeowners or renters insurance to people who own certain types of dogs. For instance, if you came to me to get homeowners insurance and you owned a Rottweiler, we would not be able to place you with Erie Insurance. Erie has great rates and is concerned that too many dog bit claims would force it to increase its prices.
My advice? Before buying a dog, check with your insurance company to see if it is on their prohibited dog list. At Consumers Insurance Agency, we represent, MMG, Travelers, Erie, and Farmers all of whom offer homeowners insurance at extremely competitive rates. Check with us first before jeopardizing your ability to get those prices in the future.
Wednesday, April 8, 2009
Tuesday, April 7, 2009
Use of New I-9 Form is Now Mandatory for ALL New Hires
Got this today from my friends at Maximum Business Consulting and thought I would pass it on to my readers:
"Effective April 1, 2009, officials with the U.S. Citizenship and Immigration Services (USCIS) have issued a revised version of the employment eligibility form – known as the I-9 Form.
Employers must complete a Form I-9 for all newly hired (e.g., within approx. the last month) employees to verify their identity and authorization to work in the United States. The new form includes revisions to acceptable identity and employment authorization documents employers can accept from new hires.
The revised I-9 form includes three important changes:
1. Employers may only accept unexpired documents presented for verification by the new employee
2. The new form eliminates Form I-688, I-688A and I-688B from List A (documents that establish both identity and employment authorization) because these documents are no longer issued and have now expired.
3. Expands List A by adding two documents:
a) a Temporary I-551 printed notation on a machine-readable immigrant visa reflects the fact that the State Department has used machine-readable immigrant visas for several years, and
b) a Passport from the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands (RMI) with a valid Form I-94 or I-94A reflects an agreement under the Compact of Free Association between the US and FSM or RMI.
The revised form is available on line from the USCIS website, www.uscis.gov.
Failure to follow the new regulations exposes employers to civil money penalties. As we understand, there are no businesses based upon size that are considered to be under the radar, and the gov’t is apparently truly on this case. Therefore, compliance itself is likely to be the most prudent approach."
For more information on 1-9 compliance, contact Vicki Krotzer at Maximum Business Consulting at 717-755-5419.
"Effective April 1, 2009, officials with the U.S. Citizenship and Immigration Services (USCIS) have issued a revised version of the employment eligibility form – known as the I-9 Form.
Employers must complete a Form I-9 for all newly hired (e.g., within approx. the last month) employees to verify their identity and authorization to work in the United States. The new form includes revisions to acceptable identity and employment authorization documents employers can accept from new hires.
The revised I-9 form includes three important changes:
1. Employers may only accept unexpired documents presented for verification by the new employee
2. The new form eliminates Form I-688, I-688A and I-688B from List A (documents that establish both identity and employment authorization) because these documents are no longer issued and have now expired.
3. Expands List A by adding two documents:
a) a Temporary I-551 printed notation on a machine-readable immigrant visa reflects the fact that the State Department has used machine-readable immigrant visas for several years, and
b) a Passport from the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands (RMI) with a valid Form I-94 or I-94A reflects an agreement under the Compact of Free Association between the US and FSM or RMI.
The revised form is available on line from the USCIS website, www.uscis.gov.
Failure to follow the new regulations exposes employers to civil money penalties. As we understand, there are no businesses based upon size that are considered to be under the radar, and the gov’t is apparently truly on this case. Therefore, compliance itself is likely to be the most prudent approach."
For more information on 1-9 compliance, contact Vicki Krotzer at Maximum Business Consulting at 717-755-5419.
Monday, April 6, 2009
No Thanks!
OK, I admit it. Every now and then something gets under my skin. I recently blogged about AIG direct changing its name to 21st Century Insurance. An anonymous reader took issue with my assessment and told me I needed to get my facts straight. I wonder what Mr. Anonymous thinks of this article in the Los Angeles Times ?
Don't get me wrong. I never said AIG Direct didn't have the right to change it's name. In fact, it's not a bad strategy - a little cynical, perhaps, but not bad. I also never questioned the financial strength of it's insurance operations. My beef is that as a whole, AIG did not manage it's risk when it diversified. Risk management is supposed to be a core function of any insurance company. But because AIG got sloppy, they are asking all of us to be their insurer of last resort. Well, if the LA Times article is true, many folks are saying "No Thank you!"
Don't get me wrong. I never said AIG Direct didn't have the right to change it's name. In fact, it's not a bad strategy - a little cynical, perhaps, but not bad. I also never questioned the financial strength of it's insurance operations. My beef is that as a whole, AIG did not manage it's risk when it diversified. Risk management is supposed to be a core function of any insurance company. But because AIG got sloppy, they are asking all of us to be their insurer of last resort. Well, if the LA Times article is true, many folks are saying "No Thank you!"
Thursday, April 2, 2009
4 Quick Ideas to Help Employers Save on Health Insurance
As a business owner, I provide health insurance to my full time employees. And each year the cost of our health insurance increases by 25% to 40%. AND WE SELL HEALTH INSURANCE!
Unfortunately, the cost of health care will only continue to rise in the near future! With that in mind, I thought I would share some ideas I often give employers for reducing the cost of health care for their companies. (These tips also work if you're thinking of adding health benefits at a lower cost!)
1. Share Expenses - Although you might have some long-term employees that came into the company never having to pay their own premiums, this might need to change. As much as you would like to completely take care of your employees' health care benefits, with the rising costs you might have to instead consider a plan where you both pay a certain percentage. It's wise to discuss this with employees before implementing it to help determine how much employees can actually afford.
2. More Options - Instead of having a group health plan that automatically adds in dental, mental health, or eye plans, find an insurance company that allows employees to add these a la carte. This might mean that the employee has to pay a small fee to cover these additional features, but it will end up saving you money on employees that would have never used the services anyway.
3. Consider a PPO - Also known as managed care, many companies are switching to PPO programs that incorporate a number of different family practice doctors and specialists. These physicians have agreed to be part of the network and charge a certain percentage less to networks members than someone outside the network. However, this does limit an employee's choice of doctors. But the savings often outweigh the inconvenience.
4. Start a Wellness Program - Just as an individual insurance plan gives discounts to healthier individuals, group insurance plans offer discounts for healthy companies. Starting a wellness program does not have to mean building a huge state of the art workout center in the office. It can simply mean beginning a smoking cessation group, offering stress relieving massages to employees or even setting up a weight loss management program. Remember that the savings will vary widely depending on the company, the number of employees and the type of insurance plan you are already committed to.
At Consumers Insurance Agency we are committed to providing employers with the best possible health insurance coverage at the lowest possible cost. Through our alliance with Emerson Reid, we represent all major health insurance plans in Central Pennsylvania. Plans from companies such as Capital Blue Cross, Geisinger, Health America, Health Assurance, Highmark Blue Shield, Keystone Healthcare Central, UnitedHealthcare.
Have questions? Contact our benefits specialist, Frank Pastuck at 717-763-7631. Or visit us at www.consumers-insurance.com.
Unfortunately, the cost of health care will only continue to rise in the near future! With that in mind, I thought I would share some ideas I often give employers for reducing the cost of health care for their companies. (These tips also work if you're thinking of adding health benefits at a lower cost!)
1. Share Expenses - Although you might have some long-term employees that came into the company never having to pay their own premiums, this might need to change. As much as you would like to completely take care of your employees' health care benefits, with the rising costs you might have to instead consider a plan where you both pay a certain percentage. It's wise to discuss this with employees before implementing it to help determine how much employees can actually afford.
2. More Options - Instead of having a group health plan that automatically adds in dental, mental health, or eye plans, find an insurance company that allows employees to add these a la carte. This might mean that the employee has to pay a small fee to cover these additional features, but it will end up saving you money on employees that would have never used the services anyway.
3. Consider a PPO - Also known as managed care, many companies are switching to PPO programs that incorporate a number of different family practice doctors and specialists. These physicians have agreed to be part of the network and charge a certain percentage less to networks members than someone outside the network. However, this does limit an employee's choice of doctors. But the savings often outweigh the inconvenience.
4. Start a Wellness Program - Just as an individual insurance plan gives discounts to healthier individuals, group insurance plans offer discounts for healthy companies. Starting a wellness program does not have to mean building a huge state of the art workout center in the office. It can simply mean beginning a smoking cessation group, offering stress relieving massages to employees or even setting up a weight loss management program. Remember that the savings will vary widely depending on the company, the number of employees and the type of insurance plan you are already committed to.
At Consumers Insurance Agency we are committed to providing employers with the best possible health insurance coverage at the lowest possible cost. Through our alliance with Emerson Reid, we represent all major health insurance plans in Central Pennsylvania. Plans from companies such as Capital Blue Cross, Geisinger, Health America, Health Assurance, Highmark Blue Shield, Keystone Healthcare Central, UnitedHealthcare.
Have questions? Contact our benefits specialist, Frank Pastuck at 717-763-7631. Or visit us at www.consumers-insurance.com.
Wednesday, April 1, 2009
April Fools
The Swiss Spaghetti Harvest
In 1957 the respected BBC news show Panorama announced that thanks to a very mild winter and the virtual elimination of the dreaded spaghetti weevil, Swiss farmers were enjoying a bumper spaghetti crop. It accompanied this announcement with footage of Swiss peasants pulling strands of spaghetti down from trees. Huge numbers of viewers were taken in. Many called the BBC wanting to know how they could grow their own spaghetti tree. To this the BBC diplomatically replied that they should "place a sprig of spaghetti in a tin of tomato sauce and hope for the best."
Protecting yourself against Greedy Lawyers, Vindictive Employees, and Incompetent Insurance Advisors is no joke. Call Consumers Insurance Agency at 717-763-7631 to make sure your protection program doesn't get you laughed right out of court.
In 1957 the respected BBC news show Panorama announced that thanks to a very mild winter and the virtual elimination of the dreaded spaghetti weevil, Swiss farmers were enjoying a bumper spaghetti crop. It accompanied this announcement with footage of Swiss peasants pulling strands of spaghetti down from trees. Huge numbers of viewers were taken in. Many called the BBC wanting to know how they could grow their own spaghetti tree. To this the BBC diplomatically replied that they should "place a sprig of spaghetti in a tin of tomato sauce and hope for the best."
Protecting yourself against Greedy Lawyers, Vindictive Employees, and Incompetent Insurance Advisors is no joke. Call Consumers Insurance Agency at 717-763-7631 to make sure your protection program doesn't get you laughed right out of court.
Tuesday, March 31, 2009
Termination in Special Situations
For most people, especially supervisors and business owners, firing or terminating an employee is difficult. I've never enjoyed letting someone go and there are some situations where the issues can be complicated. It's important to protect your business from possible negative ramifications. I want to share with you some of the things I've learned.
Company cutbacks or lay-offs
In this economy, many of you have probably either already downsized your staff or are considering it. If you decide to cutback or layoff due to lack of work or business then it's important to choose wisely. Try to be fair and look at work performance and time on the job; and make a decision based on that, not emotions.
Contract Employees
You may find yourself in a particularly difficult situation if you are considering the termination of an employee with a contract. An employee contract can make the process much easier if you review the contract and determine a direct violation. The most important factor is to ensure you have clear evidence of these actions.
Prior Complaints
An extremely sticky position to encounter is the consideration of terminating an employee that has already filed a complaint with the company, such as workers' compensation or sexual harassment. This type of termination often leads to a wrongful termination lawsuit. In order to avoid this, carefully document the reasons for terminating the employee and even consider consulting with a lawyer before taking further steps to terminate.
There are a variety of other special situations where you may need to terminate an employee. If you are uncertain how to proceed, please call my office. I'd be happy to discuss these issues with you in person or over the phone.
At Consumers Insurance Agency we offer Employment Practices Liability Insurance (EPLI) through Erie Insurance, Travelers, Philadelphia Insurance, and Progressive. EPLI pays both defense and settlement costs that may arise from an employee generated lawsuit. In addition, we also offer employee handbooks, HR consulting, Unemployment Compensation services, and employer legal defense through the Law Offices of Eric D. Patrick. Contact us at 717-763-7631 or www.consumers-insurance.com for further information.
Company cutbacks or lay-offs
In this economy, many of you have probably either already downsized your staff or are considering it. If you decide to cutback or layoff due to lack of work or business then it's important to choose wisely. Try to be fair and look at work performance and time on the job; and make a decision based on that, not emotions.
Contract Employees
You may find yourself in a particularly difficult situation if you are considering the termination of an employee with a contract. An employee contract can make the process much easier if you review the contract and determine a direct violation. The most important factor is to ensure you have clear evidence of these actions.
Prior Complaints
An extremely sticky position to encounter is the consideration of terminating an employee that has already filed a complaint with the company, such as workers' compensation or sexual harassment. This type of termination often leads to a wrongful termination lawsuit. In order to avoid this, carefully document the reasons for terminating the employee and even consider consulting with a lawyer before taking further steps to terminate.
There are a variety of other special situations where you may need to terminate an employee. If you are uncertain how to proceed, please call my office. I'd be happy to discuss these issues with you in person or over the phone.
At Consumers Insurance Agency we offer Employment Practices Liability Insurance (EPLI) through Erie Insurance, Travelers, Philadelphia Insurance, and Progressive. EPLI pays both defense and settlement costs that may arise from an employee generated lawsuit. In addition, we also offer employee handbooks, HR consulting, Unemployment Compensation services, and employer legal defense through the Law Offices of Eric D. Patrick. Contact us at 717-763-7631 or www.consumers-insurance.com for further information.
Monday, March 30, 2009
How to Create a Guaranteed Lifetime Stream of Income
This great article by Tom Lauricella of the Wall Street Journal did a great job in explaining how simple and effective an immediate annuity can be in creating a guaranteed lifetime income stream. I really recommend that everyone take a minute and read it...
OK times up...what did you learn? The problem of outliving your money is not a new one. And despite a lot of the advertising done by the big asset management houses (or asset grabbing as I like to call them), there is a tried and true way to solve it.
Basically, you go to an insurance company and ask them, "How much guaranteed monthly lifetime income will you pay me if I deposit "x" with you?" When you get an offer you can't refuse and accept the terms, you shift the risk of outliving your assets to the insurance company. If you live longer than they think you will, they still have to pay you that monthly amount.
Obviously, there is a little more to it than what I have laid out here. However, one thing to be aware of right up front is that you need to invest with a financially strong, well diversified company such as Erie Insurance. Assets invested in an annuity are only as secure as the insurance company holding them. Another point of order, there are a lot of Erie agents out there who don't specialize in annuities. Just because your agent is licensed with Erie doesn't mean he /she is qualified to sell you this solution. At Consumers Insurance Agency, educating our customers and the public about annuities is one of our main focuses. Please call me at 717-763-7631 with your questions about immediate annuities.
OK times up...what did you learn? The problem of outliving your money is not a new one. And despite a lot of the advertising done by the big asset management houses (or asset grabbing as I like to call them), there is a tried and true way to solve it.
Basically, you go to an insurance company and ask them, "How much guaranteed monthly lifetime income will you pay me if I deposit "x" with you?" When you get an offer you can't refuse and accept the terms, you shift the risk of outliving your assets to the insurance company. If you live longer than they think you will, they still have to pay you that monthly amount.
Obviously, there is a little more to it than what I have laid out here. However, one thing to be aware of right up front is that you need to invest with a financially strong, well diversified company such as Erie Insurance. Assets invested in an annuity are only as secure as the insurance company holding them. Another point of order, there are a lot of Erie agents out there who don't specialize in annuities. Just because your agent is licensed with Erie doesn't mean he /she is qualified to sell you this solution. At Consumers Insurance Agency, educating our customers and the public about annuities is one of our main focuses. Please call me at 717-763-7631 with your questions about immediate annuities.
Monday, March 23, 2009
Family Loans - Good Idea? Not So Good Idea?
One of your family members has just asked you for a loan to help them out. Nothing huge, but a loan nonetheless. Because its family you’re thinking that it will all be okay, and you can just write them a check and rely on the pay back promise. Frankly, not a very good idea. If you decide to do this, there are some guidelines you should think about. Even if it makes you look cold hearted and protective of your money.
1. Size up the loan. Depending on who the ‘loved one’ is, you might consider a small loan with no strings attached. But if the bottom line is to recover what you loan, then consider yourself a bank and assess the borrower’s financial condition. Did they try other sources before you? Are they actually going to be able to pay you back? Is it going to financially impact you? How much are you prepared to potentially lose?
2. Evaluate the emotional factors. Many times mixing family and money causes some unpleasant emotional risks. What happens if the money doesn’t get paid back? How many family members really need to know about the loan? If you don’t feel confident about loaning money to this relative, then don’t apologize for saying no.
3. Set the terms. Okay, so you’ve decided to go ahead with a loan. Don’t do it on a handshake. Before anything gets signed, sit down together and decide on the terms of the loan; how will payments be made, what is the time frame, what is the interest rate? This may serve as a reality check for the potential borrower. Maybe they didn’t consider all of the ‘black and white’ of asking you for a loan. And if you are uncomfortable setting out the terms in such a business-like manner, tell them you need if for tax purposes or to ensure that you can continue to meet your own financial obligations.
4. Document the deal. There are forms available online or at office supply stores. Filling out everything before either of you sign on the bottom line protects both of you. If a large amount of money is involved, having a lawyer draw up documents should be considered. Even if it’s a small amount, both of you are protected if the matter were to go to a small claims court.
5. Consider tax implications. If you are earning interest on the loan, then you have to report this as income on tax forms. (The borrower is usually not able to use this as a tax deduction). You could show this as a defaulted loan if that happened, but would need supporting documentation. For instance, if your borrower disappeared, you could send them a certified letter and have the receipts from the post office to show the IRS.
We love our families and friends and sometimes we get swept away by emotion. But when it comes to money, thinking twice or even three times makes a lot of sense.
At Consumers Insurance Agency we represent great insurance companies such as MMG, Erie, Travelers, First Comp, Millers Mutual, Farmers, Philadelphia, etc... However, not everything is covered by insurance. Instead of ignoring risks like the one described above, we offer this type of advice to our clients on a monthly basis via our newsletter. How can you get your monthly copy? Easy! Just become a client. Call our office at 717-763-7631 or go to http://www.consumers-insurance.com/ to see if you can qualify.
1. Size up the loan. Depending on who the ‘loved one’ is, you might consider a small loan with no strings attached. But if the bottom line is to recover what you loan, then consider yourself a bank and assess the borrower’s financial condition. Did they try other sources before you? Are they actually going to be able to pay you back? Is it going to financially impact you? How much are you prepared to potentially lose?
2. Evaluate the emotional factors. Many times mixing family and money causes some unpleasant emotional risks. What happens if the money doesn’t get paid back? How many family members really need to know about the loan? If you don’t feel confident about loaning money to this relative, then don’t apologize for saying no.
3. Set the terms. Okay, so you’ve decided to go ahead with a loan. Don’t do it on a handshake. Before anything gets signed, sit down together and decide on the terms of the loan; how will payments be made, what is the time frame, what is the interest rate? This may serve as a reality check for the potential borrower. Maybe they didn’t consider all of the ‘black and white’ of asking you for a loan. And if you are uncomfortable setting out the terms in such a business-like manner, tell them you need if for tax purposes or to ensure that you can continue to meet your own financial obligations.
4. Document the deal. There are forms available online or at office supply stores. Filling out everything before either of you sign on the bottom line protects both of you. If a large amount of money is involved, having a lawyer draw up documents should be considered. Even if it’s a small amount, both of you are protected if the matter were to go to a small claims court.
5. Consider tax implications. If you are earning interest on the loan, then you have to report this as income on tax forms. (The borrower is usually not able to use this as a tax deduction). You could show this as a defaulted loan if that happened, but would need supporting documentation. For instance, if your borrower disappeared, you could send them a certified letter and have the receipts from the post office to show the IRS.
We love our families and friends and sometimes we get swept away by emotion. But when it comes to money, thinking twice or even three times makes a lot of sense.
At Consumers Insurance Agency we represent great insurance companies such as MMG, Erie, Travelers, First Comp, Millers Mutual, Farmers, Philadelphia, etc... However, not everything is covered by insurance. Instead of ignoring risks like the one described above, we offer this type of advice to our clients on a monthly basis via our newsletter. How can you get your monthly copy? Easy! Just become a client. Call our office at 717-763-7631 or go to http://www.consumers-insurance.com/ to see if you can qualify.
Thursday, March 19, 2009
Finally! A Sure Thing.
There is a lot of uncertainty rippling through the economy these days. Contractors in general have been particularly hard hit by the credit crunch and housing slow down. Work is hard to come by which makes it difficult to plan and budget.
That's why I'm so pleased to announce that MMG Insurance offers contractors who qualify, a three year guarantee on their insurance rate. That gives contractors three whole years where they don't have to worry about an unforeseen rate increase.
Because MMG is still very new to the Pennsylvania insurance market, many contractors are unaware this program is available. Hopefully this will help get the word out.
If you're a contractor and would like to see if you qualify for this great program, call me at 717-763-7631.
That's why I'm so pleased to announce that MMG Insurance offers contractors who qualify, a three year guarantee on their insurance rate. That gives contractors three whole years where they don't have to worry about an unforeseen rate increase.
Because MMG is still very new to the Pennsylvania insurance market, many contractors are unaware this program is available. Hopefully this will help get the word out.
If you're a contractor and would like to see if you qualify for this great program, call me at 717-763-7631.
Wednesday, March 18, 2009
The Financial Strength of Your Insurance Company is Now More Important Than Ever
Most of the financial news lately has been focused on failing banks and AIG. The next storm on the horizon could impact your insurance company. As this Wall Street Journal article rightly points out, you need to know how solvent your insurance company is.
For instance, if you insure your car, home, or business with Erie Insurance Exchange, you should know that they are rated as AA by Standard and Poors. AA means extremely strong. If you insure with Donegal Mutual, they are rated BBB (Good). That's not to say that there is anything wrong Donegal. It simply means that if you are getting insurance quotes from both companies, you should be aware of their relative financial strength.
So why is this so important? Buying insurance based solely on price may seem to make sense during a recession. But if your insurance company can't pay your claim, did you really get a good deal?
At Consumers Insurance Agency we keep tabs on the financial strength of the insurance companies we represent. We never want any of our clients to be insured with a company that can't pay its claims. If you are unsure how strong your insurance company is, call us at 717-763-7631 and we'll let you know.
For instance, if you insure your car, home, or business with Erie Insurance Exchange, you should know that they are rated as AA by Standard and Poors. AA means extremely strong. If you insure with Donegal Mutual, they are rated BBB (Good). That's not to say that there is anything wrong Donegal. It simply means that if you are getting insurance quotes from both companies, you should be aware of their relative financial strength.
So why is this so important? Buying insurance based solely on price may seem to make sense during a recession. But if your insurance company can't pay your claim, did you really get a good deal?
At Consumers Insurance Agency we keep tabs on the financial strength of the insurance companies we represent. We never want any of our clients to be insured with a company that can't pay its claims. If you are unsure how strong your insurance company is, call us at 717-763-7631 and we'll let you know.
Monday, March 16, 2009
3 Quick Tips to Prevent Your Home From Being Burglarized
As you enter the third month of 2009, you've likely already set your New Years resolutions. I hope it's not to late to add one more to the list: home protection. I always do everything I can to keep my home safe and keep intruders out, and I'm sure you do the same. I've learned you can never do too much. Here are some simple tips I've picked up that you can employ to help make your house an uninviting target for thieves this year:
1. Illuminate your home's entry points (doors and windows) and make sure the lights shine on the house, not in the eyes of any "observers."
2. Don't give burglars hiding places. Trim bushes away from doors and windows, and at least two feet up from the ground.
3. Participate in or organize a neighborhood watch program. A decal placed on a window near the entry points of your home will convey to burglars that they possibly are being watched.
These are just a few of the many ways you can help protect your home from intruders. They are simple steps that can make a big difference in protecting your home and your possessions.
Want to make sure you're properly protected in case your home is burglarized? Call our VIP protection team at Consumers Insurance Agency. Call Ann, Diane, or Doug at 717-763-7631.
1. Illuminate your home's entry points (doors and windows) and make sure the lights shine on the house, not in the eyes of any "observers."
2. Don't give burglars hiding places. Trim bushes away from doors and windows, and at least two feet up from the ground.
3. Participate in or organize a neighborhood watch program. A decal placed on a window near the entry points of your home will convey to burglars that they possibly are being watched.
These are just a few of the many ways you can help protect your home from intruders. They are simple steps that can make a big difference in protecting your home and your possessions.
Want to make sure you're properly protected in case your home is burglarized? Call our VIP protection team at Consumers Insurance Agency. Call Ann, Diane, or Doug at 717-763-7631.
Friday, March 13, 2009
Umbrella Insurance: Massive Protection for Pennies a Day
Because it is designed for those really rare rainy days, umbrella insurance is cheap. It is also versatile. Umbrella insurance provides additional coverage not only for your auto policy, but also your homeowners or renters policy.
Umbrella insurance doesn’t cover everything. For example, if you are sued and the court assesses punitive damages against you, those damages won’t be paid by your umbrella insurance. What are punitive damages? They are damages awarded to someone in order to punish the person being sued. Punitive damages are awarded for outrageous, totally reckless conduct –- at least what a judge or jury perceives to be outrageous, totally reckless conduct.
You can usually buy umbrella policies with $1 million limits for $200 to $300 a year. If you need more than $1 million limits, you can usually buy each extra $1 million of coverage for $100 to $200. Think about this. For only a few hundred dollars, you can increase your per-person liability limits 10 times, 20 times, even 30 times –- and it applies to both your auto and homeowners or renters policies as well.
Umbrella insurance doesn’t cover everything. For example, if you are sued and the court assesses punitive damages against you, those damages won’t be paid by your umbrella insurance. What are punitive damages? They are damages awarded to someone in order to punish the person being sued. Punitive damages are awarded for outrageous, totally reckless conduct –- at least what a judge or jury perceives to be outrageous, totally reckless conduct.
You can usually buy umbrella policies with $1 million limits for $200 to $300 a year. If you need more than $1 million limits, you can usually buy each extra $1 million of coverage for $100 to $200. Think about this. For only a few hundred dollars, you can increase your per-person liability limits 10 times, 20 times, even 30 times –- and it applies to both your auto and homeowners or renters policies as well.
Wednesday, March 11, 2009
Why You Need to Increase Your Rental Car Coverage
You are no doubt aware of the deep financial crisis the automobile industry is in. Not only are GM, Chrysler, and Ford all on the brink of economic oblivion, Honda, Toyota, and the rest are really hurting as well. By the time this is published, it is conceivable that GM may have already filed for bankruptcy.
If you’ve been paying a little closer attention than the average person, you may also have seen that many of the companies that supply the manufacturers with parts are also closing their doors. The shuttering of these parts suppliers is starting to have a ripple effect throughout the economy. Car dealers and body shops nationwide are having to wait many more days and even weeks to get replacement parts.
So how does this affect you? Well, the minor fender bender that you just had may no longer be so minor. According to one of the claims adjusters I deal with, what used to take a week to fix could now take a month. So unless you have a spare vehicle, you may end up exceeding the amount of rental car coverage you have on your car insurance policy.
If you’ve been paying a little closer attention than the average person, you may also have seen that many of the companies that supply the manufacturers with parts are also closing their doors. The shuttering of these parts suppliers is starting to have a ripple effect throughout the economy. Car dealers and body shops nationwide are having to wait many more days and even weeks to get replacement parts.
So how does this affect you? Well, the minor fender bender that you just had may no longer be so minor. According to one of the claims adjusters I deal with, what used to take a week to fix could now take a month. So unless you have a spare vehicle, you may end up exceeding the amount of rental car coverage you have on your car insurance policy.
Tuesday, March 10, 2009
Monday, March 9, 2009
5 Easy Ways to Avoid Being Scammed
I was just reading an article in the newspaper about a telephone scam trying to sell life insurance, where the real purpose is to inquire about and use personal information for identity theft.
Not all scams are meant to solicit personal information for identity theft, some are simply meant to make quick money, but you can never be too certain. No matter how large or small the scam is, you never want to be the victim.
Here are some helpful tips to avoid being a victim of a scam:
1. Never give out personal information over the phone, unless you have called your financial institution or a business that may require your personal information for verification. If someone calls you telling you they need your personal information, hang up before giving out any information!
2. If a sales person calls with an offer that seems too good to be true it probably is. There have been many cases of scams where the caller or salesperson says that in order to reap the benefits of a free vacation, you have to pay a small fee upfront now, and you pay the money upfront and never hear from the person again.
3. Ask for receipts for all transactions! If any sales person comes by your house to sell you something, be sure to ask for a receipt. If the receipt seems phony or they cannot produce one, end the sale right away.
4. Do not respond to emails asking you to confirm personal information. This includes those from a financial institution, paypal, or ebay. Links in the emails are often phony. If you have concerns, contact the bank that the email came from.
5. Before investing with a company or buying something from them, whether it be online or door to door, be sure you thoroughly investigate the business and whether it is legitimate or not. Just a quick search on Google can turn up companies that have been reported for scamming others!
The Internet has made scams even easier for a con artist to get away with, but there are still other resources scam artists are using, so be sure to keep your eyes and ears peeled for those calling or stopping by your house! A great website to check out potential scams is www.consumerfraudreporting.org.
Not all scams are meant to solicit personal information for identity theft, some are simply meant to make quick money, but you can never be too certain. No matter how large or small the scam is, you never want to be the victim.
Here are some helpful tips to avoid being a victim of a scam:
1. Never give out personal information over the phone, unless you have called your financial institution or a business that may require your personal information for verification. If someone calls you telling you they need your personal information, hang up before giving out any information!
2. If a sales person calls with an offer that seems too good to be true it probably is. There have been many cases of scams where the caller or salesperson says that in order to reap the benefits of a free vacation, you have to pay a small fee upfront now, and you pay the money upfront and never hear from the person again.
3. Ask for receipts for all transactions! If any sales person comes by your house to sell you something, be sure to ask for a receipt. If the receipt seems phony or they cannot produce one, end the sale right away.
4. Do not respond to emails asking you to confirm personal information. This includes those from a financial institution, paypal, or ebay. Links in the emails are often phony. If you have concerns, contact the bank that the email came from.
5. Before investing with a company or buying something from them, whether it be online or door to door, be sure you thoroughly investigate the business and whether it is legitimate or not. Just a quick search on Google can turn up companies that have been reported for scamming others!
The Internet has made scams even easier for a con artist to get away with, but there are still other resources scam artists are using, so be sure to keep your eyes and ears peeled for those calling or stopping by your house! A great website to check out potential scams is www.consumerfraudreporting.org.
Tuesday, March 3, 2009
There Oughta' Be a Law!
Ever wonder if there was a law against......? Here is the site that I often turn to first when researching matters of Pennsylvania law. Purdon's Pennsylvania Statues from West is a FREE searchable database that gives you access to most PA laws.
Monday, March 2, 2009
Just Doing My Job Ma’am…
Dear Eric,
I wanted to write you this note to express my sincere thanks for the tremendous help and advice you and your team at Consumers Insurance recently gave us. As you know, we were insured with the local Erie agent in Lititiz. When Erie sent us a cancellation notice because of an accident that was not our fault and for which they had been reimbursed by Volvo, you told us exactly what to do. Not only did you get our policy reinstated, you reviewed our protection and pointed out some serious flaws. You did us a great service ESPECIALLY BECAUSE WE WERE NOT EVEN YOUR CLIENTS!
When I showed you our business policy, you took the extra step of calling Erie to make sure they really understood what we did. You concluded that based on our rapid growth and national scope of our business, Travelers Insurance offered a much better solution. Making sure that Top Practices (our business) is properly protected is extremely important to us. It represents our life’s work and ultimately our retirement. I’m confident that we are now taken care of.
Needless to say, we recently became clients. We now have our business insurance, car insurance, homeowners insurance, umbrella insurance, life insurance, disability insurance, and health insurance with you and your team. We couldn't be more happy.
If it helps, feel free to share my sentiments with any potential customers or current customers as to why they should do business with you instead of any other agency.
Sincerely,
Diane Jackson
Lititiz, PA
Top Practices, LLC – http://www.toppractices.com/
PS – Sometimes when I refer people to you they will say that they are already insured with Erie Insurance or that your office is too far away. I tell them that doesn’t matter because they NEED TO BE INSURED WITH CONSUMERS, PERIOD!
I wanted to write you this note to express my sincere thanks for the tremendous help and advice you and your team at Consumers Insurance recently gave us. As you know, we were insured with the local Erie agent in Lititiz. When Erie sent us a cancellation notice because of an accident that was not our fault and for which they had been reimbursed by Volvo, you told us exactly what to do. Not only did you get our policy reinstated, you reviewed our protection and pointed out some serious flaws. You did us a great service ESPECIALLY BECAUSE WE WERE NOT EVEN YOUR CLIENTS!
When I showed you our business policy, you took the extra step of calling Erie to make sure they really understood what we did. You concluded that based on our rapid growth and national scope of our business, Travelers Insurance offered a much better solution. Making sure that Top Practices (our business) is properly protected is extremely important to us. It represents our life’s work and ultimately our retirement. I’m confident that we are now taken care of.
Needless to say, we recently became clients. We now have our business insurance, car insurance, homeowners insurance, umbrella insurance, life insurance, disability insurance, and health insurance with you and your team. We couldn't be more happy.
If it helps, feel free to share my sentiments with any potential customers or current customers as to why they should do business with you instead of any other agency.
Sincerely,
Diane Jackson
Lititiz, PA
Top Practices, LLC – http://www.toppractices.com/
PS – Sometimes when I refer people to you they will say that they are already insured with Erie Insurance or that your office is too far away. I tell them that doesn’t matter because they NEED TO BE INSURED WITH CONSUMERS, PERIOD!
Sunday, March 1, 2009
What Type of Legal Work do You Typically Do?
It's funny. Just because I'm an attorney people assume that I have the answer to every legal question they have. That may sound ridiculous but it's true. Last week I spoke to a guy who was genuinely shocked that (off the top of my head) that I didn't know how to expedite his wife's immigration status. SORRY dude! In any case, I thought I'd post a list of practice areas where I do know the answers to one or two questions...
Business Formation and Incorporation, Insurance Law, Workers Compensation, Employment Law (employee handbooks, unemployment compensation, wrongful termination, PHRA), Estate Planning (Wills, Trusts, Powers of Attorney, Living Wills), Family Law (divorce, custody), Real Estate, Collections, Bankruptcy, Healthcare, Personal Injury, and DUI.
Got a question or problem in one of these areas? Give me a call at 717-763-7631.
Business Formation and Incorporation, Insurance Law, Workers Compensation, Employment Law (employee handbooks, unemployment compensation, wrongful termination, PHRA), Estate Planning (Wills, Trusts, Powers of Attorney, Living Wills), Family Law (divorce, custody), Real Estate, Collections, Bankruptcy, Healthcare, Personal Injury, and DUI.
Got a question or problem in one of these areas? Give me a call at 717-763-7631.
Thursday, February 26, 2009
AIG Direct is Now 21st Century Insurance
Gee, I wonder why AIG changed the name of their US car insurance operation to 21st Century Insurance? Maybe if they threw in a free year's worth of car insurance there would be more enthusiasm for yet ANOTHER tax payer funded bailout. All I'll say (because I don't want to get the sh*t sued out of me) is that if you insure your vehicles with 21st Century Insurance / AIG, you'd better pay attention to the man behind the curtain.
Wednesday, February 25, 2009
Demystifying Long Term Care
One of the hottest topics in insurance continues to be Long Term Care insurance. I get lots of questions about it, and there's a great deal of misunderstanding out there. So, here are some basics to help you understand what Long Term Care insurance is ... and what it's not.
First off, Long Term Care insurance (or LTC) is not just about paying for a nursing home stay. Yes, that's a big, critical part of it, because statistics show that nearly 50% of Americans will spend time in a nursing home after age 65, and the annual cost is more than $40,000 per year on average. But, more and more, professional long term care services are provided in patients' homes or in outpatient facilities - involving help with bathing and dressing on up to skilled nursing care.And you don't have to be over 65 to need "long term care". At least 1 in 5 Americans over age 50 will need long-term care services in the next 12 months.
Second, Long Term Care is not necessarily medical care but custodial care - meaning providing you with personal assistance with the activities of daily living. The expense of this kind of care is generally not paid by health insurance. There are really only 3 ways to pay for long-term custodial care - cash, welfare or LTC insurance.
Third, LTC insurance becomes much more expensive as you age. Why? Because the older you are before you buy, the less time the insurance company has to collect premium before you file a claim. So, if you think LTC insurance makes sense for you, check into it NOW.
Finally, LTC insurance is generally a good idea only if you have assets to protect. Medicaid will kick in for impoverished people, but if you don't want to see everything you've worked for swallowed up by long term care expenses, then LTC insurance is worth a look.
I've only scratched the surface here, but hopefully that clears up some of the basics that most people ask about. If you have more specific questions, please call Consumers Insurance Agency and we'll connect you to our LTC specialist, Alice Deeghan. Call 717-763-7631.
First off, Long Term Care insurance (or LTC) is not just about paying for a nursing home stay. Yes, that's a big, critical part of it, because statistics show that nearly 50% of Americans will spend time in a nursing home after age 65, and the annual cost is more than $40,000 per year on average. But, more and more, professional long term care services are provided in patients' homes or in outpatient facilities - involving help with bathing and dressing on up to skilled nursing care.And you don't have to be over 65 to need "long term care". At least 1 in 5 Americans over age 50 will need long-term care services in the next 12 months.
Second, Long Term Care is not necessarily medical care but custodial care - meaning providing you with personal assistance with the activities of daily living. The expense of this kind of care is generally not paid by health insurance. There are really only 3 ways to pay for long-term custodial care - cash, welfare or LTC insurance.
Third, LTC insurance becomes much more expensive as you age. Why? Because the older you are before you buy, the less time the insurance company has to collect premium before you file a claim. So, if you think LTC insurance makes sense for you, check into it NOW.
Finally, LTC insurance is generally a good idea only if you have assets to protect. Medicaid will kick in for impoverished people, but if you don't want to see everything you've worked for swallowed up by long term care expenses, then LTC insurance is worth a look.
I've only scratched the surface here, but hopefully that clears up some of the basics that most people ask about. If you have more specific questions, please call Consumers Insurance Agency and we'll connect you to our LTC specialist, Alice Deeghan. Call 717-763-7631.
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