http://gcwinsure.com/news/index.php babblings ! en webmaster Copyright 2008 2008-10-13T18:52:43 hourly 1 2000-01-01T12:00+00:00 http://gcwinsure.com/news/index.php?p=83&c=1 2008-09-30T14:55:47 admin (mailto:webmaster@gcwinsure.com) General 83@http://gcwinsure.com/news/index.php In our first two articles we discussed that you have a need for life insurance and outlined the various stages in your life that insurance is necessary. Today we focus on how much do you need. With the fluctuation in the economy, one thing that will remain constant ... But how much life insurance do you really need?

Since everyone's financial circumstances and goals are different there is no rule of thumb that can tell you with any precision how much to buy. But with a little effort you can come up with a good estimate that takes into account your specific financial situation. Of course, the best way to determine your needs is by having an insurance professional conduct a Financial Needs Analysis.

Calculating Your Life Insurance Needs

STEP 1: What are your current and future financial obligations?

STEP 2: Subtract your spouse's earnings, savings, investments and life insurance you currently own.

STEP 3: This amount is the least amount of life insurance you should consider.

Of course this is a simplistic method of calculating how much you need. But it is a way for you to see quickly that you definitely have a need that must be attended to.

How much is enough? As insurance professionals we are always asked this question. The average insurance adult American has roughly $176,000 in life insurance coverage, or about three times his or her gross annual income. When you consider all the things that life insurance proceeds need to fund and how long the money will be needed, you begin to realize that your true need for coverage is often 10, 15, or even 20 times your gross annual income.*

Yet, many American households continue to be underinsured!
- 1/3 of adults in the United States carry no life insurance at all
- More than 1 in 4 men have no life insurance coverage at all and almost 2/3 of men age 18-24 have no life insurance.
- Overall, women are more likely to own life insurance today than they were in 1998 but almost 1 in 3 women have no life insurance coverage at all and about half of women age 18-24 have no life insurance.
- Today, insured adults are more likely to have only group life insurance obtained through the workplace. Adults with only group coverage carry the lowest amounts of life insurance.

Many internet sites offer online life insurance calculators. Just remember that online calculators are no substitute for the advice you'll get by meeting with a Trusted Choice qualified insurance professional.


*Source: LIMRA International]]> http://gcwinsure.com/news/index.php?p=82&c=1 2008-09-23T01:56:01 admin (mailto:webmaster@gcwinsure.com) General 82@http://gcwinsure.com/news/index.php If someone depends on you financially, you probably need life insurance. Married or Getting Married - Most families depend on two incomes to make ends meet. If you died suddenly, would your spouse have enough money to cover your funeral costs, loans, and ... If someone depends on you financially, you probably need life insurance.

Married or Getting Married
- Most families depend on two incomes to make ends meet. If you died suddenly, would your
spouse have enough money to cover your funeral costs, loans, and daily living expenses?

A Parent or About to Become One
- One of the most expensive, yet rewarding thing a person can do in life is raising a child.
If you died tomorrow, would your spouse have the financial means to provide your children
with the opportunities you always dreamed they'd have?

A Homeowner
- If you're like most people, your home is your most significant financial asset. Life
insurance can protect your investment and spare your family the disruption of being forced to
find a new, less expensive place to live.

Changing Jobs
- If you've recently been promoted or changed jobs, it's a good time to re-evaluate your life
insurance coverage. Why? You may not realize it, but when your income rises, your spending
tends to rise, too. Updating your life insurance coverage can help ensure that your family
would be able to maintain its lifestyle.

Retired or Planning for Retirement
- Even though the kids have moved out and your mortgage is paid off, your need for life
insurance has not passed. Chances are if you died today, your spouse could outlive you by 10,
20, 30 years. Adequate life insurance coverage can help widows and widowers avoid financial
struggles in retirement.

Single
- Most single people don't have a pressing need for life insurance because no one depends on
them financially. But there are exceptions. If you're providing financial support for aging
parents or siblings, or if you're carrying significant dept you wouldn't want passed on to
family members, you should consider life insurance.

The times of your life can be exciting no matter what phase you are in. Remember life insurance isn't for the people who dies, it's for the people who live. For more information contact a Trusted Choice agent by emailing our office for further information.

]]> http://gcwinsure.com/news/index.php?p=81&c=1 2008-09-10T02:15:18 admin (mailto:webmaster@gcwinsure.com) General 81@http://gcwinsure.com/news/index.php Chances are, you need life insurance!!! Don't have life insurance? You're not alone. Did you know that 81% of Americans say the need life insurance? But only 41% own an individually purchased policy. Yet as insurance professionals, people cringe or change the subject when we ... Chances are, you need life insurance!!!

Don't have life insurance? You're not alone. Did you know that 81% of Americans say the need life insurance? But only 41% own an individually purchased policy. Yet as insurance professionals, people cringe or change the subject when we ask the most simple question:

How will your family manage financially when you die?

Nobody wants to think or worry about death, but the fact is not one of us is immune to it. It will happen. If someone depends on you financially, and we're sure they do, this is one question you cannot avoid.

There are many types of life insurance, but for all of them the end result is the same: It pays cash to your loved ones after you die, replacing your insurance and allowing the financial plans you put in place to continue uninterrupted. Your mortage payments, loans, college tuition and daily living expenses will be paid with a life insurance plan. And perhaps, most importantly, the death benefit proceeds of a life insurance policy are almost never subject to federal income taxes.

Over the coming weeks we will help explain how much you should consider purchasing, what kind to buy, and offer you some smart buying tips.

Most Americans need life insurance, and many who already have it may need to update their coverage.

Common excuses that shouldn't stop you from getting the coverage you need:
- "It's too expensive."
Not having any or enought life insurance coverage could be more costly to your
family.

- "I haven't gotten around to it."
There are no guarantees in life, so don't procrastinate.

- "I prefer to put my money elsewhere."
Might work if you're sure you're going to live a nice long life.

- "I worry about making the wrong decision."
A qualified insurance professional can answer all your questions and guide you through
the buying process.

- "The coverage I have through my employer is sufficient."
Perhaps the most common excuse we are given. Typically employers provide a modest
amount of coverage, and it can be costly to take with you when you leave.

Ask yourself, "Am I prepared should the very worst happen?" You may be surprised by your answer.]]> http://gcwinsure.com/news/index.php?p=80&c=1 2008-08-14T17:22:00 admin (mailto:webmaster@gcwinsure.com) General 80@http://gcwinsure.com/news/index.php Construction work began in late-July at the former home located at 550 Schoolhouse Road (corner of Schoolhouse Road and Rt. 113) in Franconia Township, near Harleysville. When completed, we will relocate the office currently at 99 Allentown Road. The building is undergoing renovation to provide approximately 2,200 square feet of office ...
Construction work began in late-July at the former home located at 550 Schoolhouse Road (corner of Schoolhouse Road and Rt. 113) in Franconia Township, near Harleysville. When completed, we will relocate the office currently at 99 Allentown Road.
The building is undergoing renovation to provide approximately 2,200 square feet of office space. The main entrance will be relocated to the side of the building. Sitework includes widening of and curbing along Schoolhouse Road, installation of new sewer lines, widening of the driveway, and installation of a 13-car parking lot and storm water management basin.
Work is well underway with an anticipated completion date of mid-October. We plan to be open for business at this new location in late-October.]]> http://gcwinsure.com/news/index.php?p=79&c=1 2008-08-12T14:38:09 admin (mailto:webmaster@gcwinsure.com) General 79@http://gcwinsure.com/news/index.php August is not only known for its' dog days, but for that trek to college so many parents make with a car full of belongings and an excited graduate ready to take on a higher education. When your child moves from home to college there are a number of ...
When your child moves from home to college there are a number of insurance questions to consider. Remember, not all insurance policies have the same terms and conditions. Consult your Trusted Choice independent insurance agent to determine the limits and types of coverage that apply to your family.

Home Sweet Dorm
Insurance companies consider college students to be residents of their parents' home, temporarily residing elsewhere. They also consider your dorm-room contents to be "personal property, located off premises".

Most homeowners/renters policies limit coverage up to 10% of personal property, off premises. What this means is if you have $75,000 in contents coverage at your home, your student will have $7500 for an off premises dorm. You need to decide if that's enough to repair or replace all electronics and other items that are stuffed in your trunk or back seat.

Moving On Up
Nearly 1/5 of college students rent off-campus apartments. Some insurance companies consider this to be a permanent residence. Therefore, the apartment may not be covered under the parents' homeowners policy for contents or liability.

Generally, the person who signs the lease is held liable (and may be sued) if someone is injured on their leased premises. Let's face it, we all have visions of Animal House in our mind.

Hot Wheels
Few colleges allow freshman living on campus to bring their cars. But 70% of the rest of the students have them. Things to consider if your child has a car:
1. Leave the car at home: You might be eligible for a reduced rate if your student is residing
away from home.

2. Take the car to college and:
- Notify your insurance company that the car will be garaged in another location.
- Consider letting your child assume the title to the car if they are 18 years or older.
As the titleholder they must get their own auto policy. This will decrease your liability
exposure.
- Discourage your child from allowing others to drive the car. Regardless of who may be
using the car and for what purpose, your child is still responsible for the car and what
is done with it.
Insuring Your Legacy
Experts recommend obtaining or increasing your existing life insurance to cover the total cost your child's tuition. When figuring that cost you will want to include: tuition, room and board, transportation, books, and supplies. Whether you have a college fund prepared for your child or are paying as you go, life insurance is a secure method to safeguard your child's education.

The Weimer Group is a Trusted Choice Independent Agent willing to help you sort out your insurance needs for your college bound student. Contact either office for further information or a review of your insurance program.
]]> http://gcwinsure.com/news/index.php?p=77&c=1 2008-07-22T14:00:05 admin (mailto:webmaster@gcwinsure.com) General 77@http://gcwinsure.com/news/index.php A cool swim on a hot day is an American tradition. As temperatures rise, most folks want to get into the water-whether at the ocean, lake, or pool. The combination of high fuel prices and an economic slowdown may keep Americans at or near home more than usual this summer. ...
The combination of high fuel prices and an economic slowdown may keep Americans at or near home more than usual this summer. But water safety is a concern wherever you-and especially your children-venture this summer.

Did you know, each year 3500 deaths-about 10 per day- are caused by drowning? The Centers for Disease Control and Prevention (CDC) reports another 4,000 people are treated at emergency centers for injuries and trauma related to pool accidents. Each year 283 children under age 5 die in pools and spas (as reported by the Consumer Product Safety Commission). Most involve children ages one to two.

What you can do to keep children safe:

Never allow a child to be alone in the water-Children should always have an adult supervising their activity in the water. Children younger than five years should be within an arm's length of a supervising adult.

Keep pools covered-Pools must be treated as attractive nuisances, meaning children will want to get to them to play. Protective pool covers can keep young children from accidentally entering the water when no adults are around. Fences need to isolate the pool from the house; have well-maintained self-closing, self-latching gates and an alarm to alert an adult that someone is in the pool area. The more obstacles between your child and the pool, the better!

Keep life vests on and life preservers within reach-If a young child falls into the pool while playing, a life preserver could save his or her life.

Swim Lessons and CPR-Learning to swim is not just recreational, but a way to teach children how to save themselves. Yet even strong swimmers must be supervised, no matter what age.
Enroll in a CPR class. CPR can make a big difference by reducing the likelihood of brain damage in a few minutes it takes for 911 emergency responders to arrive.

Any homeowner who has a pool-whether an in-ground, above ground, or inflatable/temporary-should have liability insurance coverage, including umbrella liability coverage. Contact The Weimer Group,your Trusted Choice independent agent to review your homeowners and liability insurance protection. ]]> http://gcwinsure.com/news/index.php?p=76&c=1 2008-07-09T02:27:32 admin (mailto:webmaster@gcwinsure.com) General 76@http://gcwinsure.com/news/index.php We are pleased to announce that our agency is the recipient of the 2008 Neighbor's Choice Award for Montgomery County from the Philadelphia Inquirer. We are delighted and grateful for the trust our clients have given us to assist them with their insurance programs. We make sure our ... 2008 Neighbor's Choice Award for Montgomery County from the Philadelphia Inquirer. We are delighted and grateful for the trust our clients have given us to assist them with their insurance programs. We make sure our clients are receiving a competitive price, from a trusted insurance company, without sacrificing coverage. With offices in Souderton and Perkasie (Bucks County),the readers of the Philadelphia Inquirer have chosen The Weimer Group as their insurance agency for their insurance needs. Find out what makes us so different. We invite you to contact our Souderton location at 877-2WEIMER or our Perkasie office at 800-716-6617 for further information.
]]> http://gcwinsure.com/news/index.php?p=75&c=1 2008-07-01T13:45:36 admin (mailto:webmaster@gcwinsure.com) General 75@http://gcwinsure.com/news/index.php For nearly 20 years, the Fourth of July has proved to be the deadliest holiday on America's roads. Each year an average of 161 people die in motor vehicle crashes on Independence Day - 12 more than any other single day of the year, according to the Insurance Institute for ...
-Plan your trip. Try to avoid heavy traffic, poor weather and high-speed areas.
-Stay sober. Never drink and drive. Over 40 percent of holiday accidents are due to drunk driving.
-Pay attention. Avoid talking on cell phones, eating, drinking and other distractions.

For more information you can visit Insurance Institute For Highway Safety or National Highway Traffic Safety Administration.

Have a safe holiday!]]> http://gcwinsure.com/news/index.php?p=74&c=1 2008-06-19T15:16:23 admin (mailto:webmaster@gcwinsure.com) General 74@http://gcwinsure.com/news/index.php Tips for Smooth Sailing This Season The summer season is here, and it's time to do the things we've looked forward to all winter. If one of those things for you is boating, before you take that first pleasure cruise or fishing trip of the season, make sure your boat insurance ... Tips for Smooth Sailing This Season

The summer season is here, and it's time to do the things we've looked forward to all winter. If one of those things for you is boating, before you take that first pleasure cruise or fishing trip of the season, make sure your boat insurance is shipshape.

Insuring a boat is different than insuring a car or home. Boats require specialized cover-ages. To avoid a sinking feeling about your boat insurance, consider these tips from the experts at The Progressive Group of Insurance Companies:

Evaluate your specific needs. Some insurance companies provide no-frills boat coverage that is simply added to an existing auto or homeowners policy. While this sounds good in theory, the reality is that your boat may be best covered if you seek out a specialized policy just for boats, not an add-on to your car or house policy. A knowledgeable, independent insurance agent will review all options with you. A specialized boat policy can cover things not likely covered by a homeowners policy, like the cost to replace lost or damaged fishing gear and costly services, such as emergency on-water towing and fuel-spill cleanup.

Consult an agent or broker who provides the most options. Unlike “captive” agents who represent only one company, independent agents and brokers represent several. They can offer a variety of coverages, review and evaluate your policies, answer your questions and suggest new coverage options that meet your changing needs. They guide you to the policy that provides you with the best combination of specialized coverage, service and price.

Look for a company that offers specialized boat policies. When there’s a claim, you will appreciate a company that provides specialized coverage and specialized claims handling. Ask other boaters what company they recommend or find an independent insurance agent who under-stands boat policies.

Once you choose a policy, make sure you understand what you’re buying. Your agent should be able to explain, in layman’s terms, what the different options mean. If you are unclear about something, be sure to ask for an explanation.

For more information about boat insurance coverages, give us a call. We can provide you with the combination of price, coverage and service that’s right for you!

]]> http://gcwinsure.com/news/index.php?p=73&c=1 2008-05-02T12:51:07 admin (mailto:webmaster@gcwinsure.com) General 73@http://gcwinsure.com/news/index.php It can be easier than you think to put the brakes on high auto insurance rates – as an independent agency, The Weimer Group can help! We can review your policy and possibly help you find a variety of illuminating ways to save money. Here are some things you may ...
• Ask us to check several companies’ rates. This is the single most important thing you can do to get the best possible rate—and we can do it for you quickly and easily. The difference between the highest and lowest rate available to you from different companies could vary by hundreds of dollars.

• Reduce or drop physical damage coverage on an older car. Depending on your car’s age and where you live, comprehensive and collision coverage may not be worth keeping. We can give you advice on whether it makes sense to reduce or drop this coverage altogether.

• Raise your deductible. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15 to 30 percent. In addition, because the average driver files a collision claim only once every ten years, odds are that over the lifetime of your car, a higher deductible will save you money. We can show you how raising your deductible will lower your premium.

• Look for discounts. Many insurance companies reduce premiums for certain driver traits or car features. For example: being a homeowner for more than three years, nonsmoker, nondrinker, students with good grades, senior citizens who have taken an approved defensive driving course, people who only drive for pleasure, cars kept in garages, antilock brakes, antitheft devices, air bags, etc. Ask us to check.

Don't pay more than you have to. We're here to help you be a smart insurance consumer, working with you to make sure you: 1) have the coverage you need; 2) aren't paying for coverage you don't need; 3) aren't paying for duplicate coverage; and 4) are getting the best value for your dollar on all your insurance. Give us a call!

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