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robintek

Nov 02
Love0

Create a Wellness Program for Employees

By Employment Resources

eb-2-1511 (1)According to the forth-quarter 2010 Principal Financial Well-Being Index, 43% of American workers cite the achievement of better overall health as the number one reason they would or do participate in a wellness benefit program. In second place, with 33%, was the reduction of personal health care costs. In third place, with 31%, was the increased chance of living a healthier and extended life.

The Principal Financial Well-Being Index is released by the financial services provider, Principal Financial Group. This is a quarterly survey of American workers from American businesses with between 10 and 1,000 employees. The findings of the fourth-quarter 2010 survey involved data from 528 retirees and 1,159 employees.

Some key points from the survey included:

  • When offered by an employer, blood sugar screenings had an 84% utilization rate. This was an 18 point increase from 2009 statistics.
  • When offered by an employer, weight management programs were utilized by 53% of employees. This was a 25 point increase from 2009 statistics.
  • When offered by an employer, personalized action plans for conditions considered high-risk were utilized by 68% of employees. This was a 21 point increase from 2009 statistics.

Some credit rising health care costs and more public awareness about diseases such as heart disease and diabetes with American workers being more ready to take action toward their own health. None the less, as evidenced by the substantial increase in how many workers are taking advantage of wellness benefits, there is clear indication that there’s a growing element of employees taking more personal responsibility for their health.

Employers Can Benefit From Wellness Programs Too
Personal responsibility might drive employee participation in wellness programs, but employees have much to gain from offering wellness and encouraging its usage. During the index, workers said the following occurred as a direct result of the wellness program offered by their employer:

  • Forty-three percent felt they were motivated to perform better and work harder.
  • Twenty-eight percent said they were absent fewer days from work.
  • Thirty-eight percent said they experienced improved productivity and energy while at work.
  • Forty-eight percent said that the offering of wellness benefits encouraged them to remain with their current employer.

In closing, this research is echoed by countless other studies showing employers that invest in the wellness of their employees by offering them the means and the educational resources they need to control their own wellness not only gain physically healthier employees, but also productivity and cost-saving increases.

Nov 02
Love0

Pick the Right Dental Plan

By Employment Resources

eb-1-1511Of the possible group benefits offered by employers, employees often say Dental insurance is one of the most desirable benefits. And, for employers looking into adding to their benefit offerings, the predictable and relatively low premiums associated with Dental insurance makes it an excellent option. Employers should comparison shop for a carrier offering a Dental insurance plan that’s applicable to the needs of their workforce and a good value. Whether planning to pay a portion of the cost of the coverage for employees or provide the coverage as 100% employee-paid, employers should know the answer to some questions before making a plan decision.

1.  What dental service providers will be allowed?

The employer should find out if the plan has a preferred network of dental providers and how the network affects coverage. For example, if the dental care is received outside the preferred network, some plans will pay nothing; some will pay a reduced benefit; and others will pay regardless of the provider, but have discounted network providers available. Plans that have a preferred network should also be scrutinized carefully to make sure they provide the desired amount of provider choice. Employers should know what the turnover rate is for the network provider dentists; if the network includes specialty services, such as pediatric dentistry, orthodontics, periodontistry, and endodontics; and if any network restrictions apply to dental specialty services.

2.  What are the covered and excluded services under the plan?

The employer will want to pay attention to what specific areas of service the plan will cover. For example, some preventive services pay for a teeth cleaning, but exclude fluoride treatments or sealants. If orthodontic services are covered, they might exclude coverage for services that are for cosmetic purposes or adults in general.

3.  Will the plan provide coverage for pre-existing conditions and extended treatments that began before the effective date of the coverage?

4.  What percentage of the cost of the premium goes toward administrative fees and what percentage goes toward the payment of benefits?

5.  Exactly how will service coverage be paid?

Employers definitely need to know what rate services will be covered at. Take a plan that says it pays 100% on dental cleanings as an example. The employer will want to clarify if that means the plan pays 100% of what is charged by the serving dentist or 100% of what the insurance company determines is the usual, customary, and reasonable (UCR) allowance fee. Comparing the UCR allowance fee can make a big difference in the quality of dental coverage, as it often varies per insurance company.

6.  Are communication materials, IVR enrollment, online enrollment, and other forms of enrollment support offered by the Dental insurance provider?

7.  Will the plan require a specific amount or percentage of employees to enroll if the plan is offered as a 100% employee-paid benefit?

With careful consideration, employers can pick a dental plan that meets both employee and company needs. One of our insurance brokers can also be beneficial in helping to come up with a checklist of considerations when comparing dental plans and carriers.

 

Nov 02
Love0

Testing for Dementia – New Life Insurance Policies

By Life and Health

lh-4-1511More and more senior citizens and those nearing retirement are buying Life insurance these days. Many of these people are worried that their spouse will run out of money if they die; while others hope to make up for losses suffered in the stock market decline.

An increasing number of Life insurers require testing the cognitive abilities of older applicants, in addition to taking a physical exam. Some companies make it standard practice to test applicants 60 years or older, while others begin testing at age 70 or 80.

The reason: cognitive impairment has a high correlation with early mortality. A study by the Alzheimer’s Association (http://www.alz.org/ ) found than 60% of people with Alzheimer’s at age 70 will probably die before they turn 80, compared to 30% of those who don’t have the disease. Alzheimer’s is the sixth-leading cause of death in the U.S., with fatalities soaring by 66% between 2000 and 2008 – a period during which deaths from other illnesses, such as breast cancer and heart disease, fell.

Because there can be a genetic component to Alzheimer’s, some experts believe that Life insurance applications will soon include questions about the cognitive abilities of family members (as they already do about a family history of cancer or cardiac disease). Bear in mind that the outbreak of the AIDS epidemic resulted in adding questions about HIV/AIDS to Life applications.

This focus on cognitive impairment among senior applicants offers one more reason for consumers to buy Life insurance when they’re young, in good health, and can benefit from lower rates.

Nov 02
Love0

Life Insurance and Obesity

By Life and Health

lh-3-1511If you’re overweight, you may already have a few reasons for wanting to lose weight. You might want to shop in regular clothing stores, feel more attractive, and have more energy. Losing weight can improve your health, too. As if these reasons weren’t enough motivation to lose weight, the effects of obesity on your life insurance policy can also inspire you to lose a few pounds.

Why Obesity Affects Life Insurance Rates

Life insurance is based on your risk of dying. Obesity can drive up your life insurance rates and affect your policy category because the extra pounds increase your risk for chronic conditions. These dangerous and potentially fatal conditions include the following.

  • Heart disease
  • Type 2 diabetes
  • Gallbladder disease
  • Asthma
  • Sleep apnea
  • Liver disease
  • Stroke

Are You Overweight?

Being as little as 10 pounds over your ideal weight increases your health risks, making life insurance more expensive and keeping you out of a preferred policy. About two-third of American adults are overweight or obese, and you can find out whether you are overweight or obese using a BMI calculator. Just enter your height and weight. If your BMI is over 30, you are considered obese.

Make Modest Lifestyle Changes to Lose Weight

Crash diets are not fun and they don’t work. For lasting weight loss, think about small changes that you can make throughout the day to eat fewer calories and exercise a little more.

  • Grab fruit instead of cookies for dessert
  • Have raw cut vegetables for a crunchy snack instead of potato chips
  • Serve yourself smaller portions
  • Drink water instead of soda
  • Go for a walk after dinner
  • Choose lean meats and cut skin off of chicken before cooking it

These small changes can help you lose weight and get healthier. You’ll feel better and look better, and you may be rewarded with lower life insurance rates!

Nov 02
Love0

Protect Your Way of Life – Disability Insurance

By Life and Health

lh-1-1511Almost everyone needs Disability insurance. Think about it. Your capacity to earn a living is crucial. Your income makes it possible to buy food, make mortgage payments, provide for your children, take a vacation, and countless other things. Many faithfully pay premiums for car, life, homeowner’s insurance, and perhaps even a pet’s medical insurance, but they neglect this extremely important protection, Disability insurance.

There are few things as disruptive to a family’s happiness as having a parent, or maybe both, lose his/her income due to accident or illness. When income is drastically reduced, it creates stress and unmet needs and expectations. It often creates feelings of guilt in a parent. Life is hard without a reliable source of income.

A LIFE Foundation study states that 70% of working Americans could not be without income for more than one month without serious financial difficulty. Surprisingly, the same study states that one of every four Americans couldn’t last a week if they were seriously injured and unable to work. Clearly, the answer to the question, “Does almost everyone need Disability insurance?” is a resounding “Yes!” It is important for an individual, and especially important for a family, to have a financial plan. Disability insurance should be one of the foundation stones of everyone’s financial plan, because it protects such an important asset – your income.

Other statistics need to be considered. The Senate Finance Committee states that 70% of people between the ages of 35 and 65 will become disabled for three months or longer and that 90% of injuries will occur away from work.

After you make the decision to purchase Disability insurance, there are still important questions to be answered and decisions to be made. “How large a benefit do I need; how much will it cost to purchase a plan with that level of protection?” “Does my spouse need this kind of policy even if he/she doesn’t work or has a small income?” “How long is the waiting period before I start receiving checks?” “Does my employer offer a disability plan that I am not aware of?” “Will I need this kind of insurance after I reach age 65?” All these and many other questions need to be taken to a capable, experienced insurance agent who is a specialist in this type of insurance. This is an important decision with a great number of complicated considerations, such as, “Is the plan guaranteed to be renewable?”, “What is the maximum benefit period?”, and “Which occupation class does my job fall into?”

Once the decision is made and the policy is purchased and in effect, you can breathe a sigh of relief. You have done what is necessary to protect your happiness with Disability insurance. More importantly, you have protected your family by providing for them if your ability to work is interrupted.

Nov 02
Love0

Long-Term Care, Consider for All Ages

By Life and Health

lh-1-1511One in two Americans will need long-term medical care during their lifetime – and this percentage will keep growing, thanks to advances in medicine that keep extending the average lifespan.

The more we age, the more help we need – which means a serious health problem (such as a serious fall, cognitive impairment or heart attack) can make us unable to support ourselves and dependent on others for health care. What’s more, this need is by no means limited to seniors: More than one in three people (37%) receiving long-term care services are younger than 65!

Long-Term Care insurance (LTC) can help pick up the tab for these often pricey services by covering expenses that your Health policy doesn’t include. It can also protect your family’s assets by removing the financial burden on your family and friends of paying for your care, or of caring for you themselves – responsibilities that you wouldn’t want them to assume. As a rule, LTC coverage will pay for care in your home, an adult day care or assisted living facility, or a nursing home. The policy benefits will kick in as soon as you require assistance.

Without LTC, you, or your family, would have to pay for these services – which can create a staggering financial burden that could last for years. It costs more than $70,000 a year to staying in a nursing home, a figure that’s projected to hit $190,600 by 2030. The average wage for home care aides comes to $32.50 an hour, an expense that can add up quickly because more and more people need 24-7 care. Don’t count on other health care programs to foot the bill. Medicare, and almost all Health policies, will provide partial payment for long-term care – and only for 100 days or less. If you’re under the poverty line, such government programs as Medicaid will cover nursing home care.

LTC can provide an affordable alternative. Annual premiums usually range from $1,000 to $5,000, depending on the amount of coverage, and your gender, age, and physical condition. (People who have severe health problems might not qualify).

For a free review of your need for long-term care protection, please get in touch with us.

Nov 02
Love0

Can Dogs Really Protect Your Home from Burglars?

By Personal Perspective

pp-3-1511According to the FBI, an average of 2.1 million burglaries occurs each year. Your current renters or homeowners insurance will replace stolen items, but consider implementing several strategies that prevent burglars from targeting your home in the first place. In addition to security systems, deadbolts and motion detection lights, consider whether or not a dog can successfully deter burglars from targeting and entering your home.

The Advantages and Disadvantages of Large Breeds

Big dogs, including German Shepherds, Dobermans, Rottweilers and Mastiffs look intimidating to burglars. Their bite can be pretty ferocious too. However, some big dog breeds aren’t known for their bark. If a burglar is casually casing a neighborhood, he or she may leave your house alone because a big dog lives there.

The Advantages and Disadvantages of Small Breeds

Small dogs like Terriers, Schnauzers and Beagles don’t look intimidating. They can be noisy, though, and their yapping can be invaluable for your protection. Burglars look for easy targets, and they’ll walk away from your house if your dog starts barking and alerts you or the neighbors to their presence.

Are Dogs Always Foolproof Burglar Deterrents?

Both large and small dogs can deter burglars, but keep a few facts in mind before you buy or adopt a canine protector.

  1. Remember that all dogs don’t follow breed stereotypes. Some Dobermans are docile with strangers, and your Terrier might not bark.
  2. Burglars who want in your home will find a way whether you have a dog or not. They can simply poison the dog or distract it with food.
  3. Your lease or homeowners association agreement may prevent you from owing a dog or a certain breed of dog. Check it carefully.

Overall, dogs can deter burglars. You should use additional security options as well, though. Contact us for information about renters and homeowners insurance and to receive advice that keeps your home, family and belongings safe from burglars.

Nov 02
Love0

Renters Insurance: What You Should Know.

By Personal Perspective

pp-2-1511A recent nationwide survey found that only 34% of tenants carry a Renters policy which means that most renters are taking a financial gamble with all of their belongings.

The three leading reasons that respondents gave for not buying Renters insurance show that many people don’t understand what this policy covers – and doesn’t cover:

    • Nearly three in five (57%) felt that their rented home has such effective security that they don’t need protection against losses from theft.

      However, without a Renters policy, tenants still remain highly vulnerable to other risks. A fire could damage or destroy their possessions, requiring replacement at a high cost. An accident might leave the unit temporarily unlivable, costing hundreds or thousands in living expenses. An injury to a visitor on the premises could result in costly medical bills – not to mention a lawsuit. The typical Contents policy will provide protection against these losses – and a wide variety of other risks.

    • More than half (52%) believed that they couldn’t afford the coverage. Among respondents, 21% estimated the annual premium at $1,000 or higher, while another 60% pegged the cost as $250 a year or more.

      However, according to the National Association of Insurance Commissioners (NAIC), the average Renters policy costs only around $185 a year.

  • Nearly half (48%) thought that the landlord already had coverage.

Although the landlord carries insurance in the building itself, the policy does not cover risks to tenants’ property and liability.

Nov 02
Love0

Preparations for Natural Disasters, Save Yourself Time and Money

By Personal Perspective

pp-4-1511As the fun and sun of summer arrives, so does the threat of many natural disasters. Happenings like earthquakes are always a threat, but floods, wildfires, hurricanes, tornadoes, and such are more apt to strike in the warmer summer months. There are three very important steps you can take to limit the effect natural disasters have on your life and property and expedite your recovery process.

1. Planning.There are some basics that any natural disaster plan should include:

  • Always have several escape routes mapped out. Each family member should know where to meet, who to call for help, and where to call to signal their safety to other family members. Your family safety plan should be posted in a central location and the escape route and emergency contact numbers should be reviewed every six months.
  • If possible, store irreplaceable items and documents like birth, marriage, death, and divorce certificates; passports; deeds; social security cards; expensive jewelry; and heirlooms in a safety deposit box during high-risk seasons if you live in an area frequently hit by natural disasters. You may also put video or photo documentation, a listing of serial numbers, appraisals, and receipts for these items in your safety deposit box.
  • Scan your photos to your computer. You can store your photos with an online storage service or make a CD to place in your safety deposit box.
  • You should have an emergency overnight bag ready to go for every person and pet in your family and always keep a credit card, emergency cash supply, and personal identification with you during high-risk seasons.

As far as disaster-specific planning goes, here are some key points:

Flood planning. Many people live in possible flood areas and don’t realize it. For example, those living in areas that recently had a wildfire and those living downstream from a dam could have problems with flash flooding. Those living in or near a construction area could find their risk of flooding increased due to changes in water flow patterns. You can assess your risk of flooding by contacting your local building authority and your insurance agent. Since basements aren’t usually covered by typical flood insurance policies, those with a basement need a plan on moving their valuables to upper-levels. Do make sure that you have an escape plan, as discussed above, in place for your family.

Hurricane planning. Most people in areas prone to hurricanes are already on high alert during hurricane season, but do keep in mind that hurricanes and the stormy remnants are often unpredictable. The flood planning from above is applicable to hurricane planning. Additionally, you’ll want to have a supply of nails and plywood ready to go so that you can board-up your home before evacuation. Remember, if your local authorities issue an evacuation, then you need to heed it.

Wildfire planning. Wildfires can begin unnoticed and spread rapidly with little forewarning. An effective evacuation plan is vital in many cases. If you do have forewarning, then stay tuned to the emergency broadcasts and follow the evacuation directions from local authorities. Remember to take your emergency evacuation bag with you.

If you’re under a warning, but haven’t been advised to evacuate yet, then you might have time to turn off your gas lines and propane tanks, soak your roof and shrubs with water, move flammable furniture to the center of rooms, and move large valuables to the safest location possible.

Tornado planning. Unlike many other disastrous events, leaving your home during a tornado warning is seldom a wise move. Everyone in your family should know where they should go during a tornado warning. While a basement is ideal, not everyone has one. You can use a central room; preferably one that doesn’t have windows or overhead objects. Be sure your emergency kit and phone numbers are in your designated room.

Earthquake planning. Follow the directions from tornado planning. You might also want to place an emergency kit in your vehicle and at your place of employment. Check to make sure your child’s school is also well-prepared.

2. Prevention

  • Aside from living in an area not prone to natural disasters, there isn’t much you can do to avoid them. However, unlike most other natural disasters, wildfires can sometimes be prevented. You can personally prevent fires by being careful when using open flames, maintaining your chimney flue, and not throwing cigarettes outdoors. Of course, wildfires can happen regardless of your personal care with fire.
  • You can help to prevent flames from impacting your home by creating a defensible space. In fact, some insurers are now inspecting properties for defensible space before issuing or renewing policies. Your insurance agent, local agricultural organizations, and federal agencies like the American Red Cross and FEMA are valuable information sources on creating defensible spaces. The damage of flooding can also be limited by planning water diversions and landscaping as protective devices.

3. Insurance

  • Last, but certainly not least, you should make sure your existing insurance is providing adequate protection. For example, your regular Homeowners policy most likely won’t provide coverage if a boulder falls or rolls into your home since such would be considered an earth movement and need to be covered by Earthquake insurance. Another example would be your regular Homeowners policy not covering damage from a water or sewage system outside your home breaking, or damages from a flash flood, as these would fall under Flood insurance. If you obtain Flood insurance, keep in mind that the coverage won’t become effective for 30 days and your basement usually still won’t be covered.

 

 

 

Nov 02
Love0

Protect Your Personal Boat/Watercraft

By Personal Perspective

pp-1-1511There are many hidden costs associated with owning a boat: Dock fees, general maintenance, and winter storage, just to name a few. One expense that boat owners should never skimp on is purchasing the best available insurance policy for their watercraft.

Because buying a boat is a huge investment, owners should protect their boat with comprehensive insurance coverage. Plans are often based on the type and size of the boat. Many Homeowners and Renters insurance policies provide limited coverage for property damage if the boat’s engine is less than 25 mph horsepower or if it is a small sailboat, but without additional insurance, no liability coverage is included.

Owners of larger, more powerful boats and yachts will need to purchase a separate insurance policy for their boat. The insurance company will take into account the size and type of boat, its value, and where the boat sails when drawing up the conditions and cost of the policy.

Separate boat and watercraft insurance policies provide much more coverage to the owner. These policies generally include loss and damage coverage to the boat’s hull, machinery, furnishings, fittings, and any permanently attached equipment, like a navigation system. Liability coverage is extended to:

  • Bodily injury to other persons
  • Damage to other’s property
  • Legal expenses associated with non-consensual operation of the boat
  • Medical costs for injuries to the owner and passenger
  • Boat theft

Policyholders can choose the liability limits of their plan, ranging anywhere from $15,000 up to $300,000. The deductible cost for property damage is $250, and it ranges between $500 and $1,000 for theft and medical expenses. Of course, policies can be individualized based on the boat owner’s needs. Other endorsements and coverages can be added to the policy to cover the boat’s trailer, fishing gear kept aboard the boat, and any other accessories. Also, make sure to ask whether or not the policy covers the boat while it is being towed.

Just as Auto insurance providers offer discounts to their policyholders, discounts for watercraft policies apply in certain cases. For example, insurance companies favor diesel-powered engines over gasoline ones because diesel fuel is more stable, making the engine safer to operate.

Other discounts are related to safety equipment kept on the boat. Having items like fire extinguishers approved by the U.S. Coast Guard and ship-to-shore radio equipment could reduce the amount of the premium. Also, completing a boater’s safety course offered by the Coast Guard Auxiliary, the American Red Cross, or the U.S. Power Squadrons can gain some favor with the insurance company. Maintaining a clean boating record is just as important as being accident-free on the roadways, when it comes to lowering insurance rates. Premiums are usually discounted for every two years the boater goes without an accident or filing a claim. Bundling your Watercraft insurance with Homeowners and vehicle policies is another good way to save money on coverage costs.

A solid insurance policy gives boaters the peace of mind needed to set sail and enjoy the open waters. Nothing is more relaxing than knowing your investment is covered.

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