If you own life insurance, it’s presumably because you care about someone else and want to make sure they’ll be taken care of even when you’re no longer around.

If you haven’t made sure that your beneficiaries are correct (circumstances DO change from time to time), you might not be happy with who gets what, and when.

You should, from time to time, speak to your life insurance agent, or your attorney do discuss and, if necessary, adjust things to reflect your most current wishes.

Blame it on global warming if you wish, but two extended hurricane seasons in a row with Katrina as the centerpiece, has resulted in massive hikes in insurance premiums for windstorm and flood-related catastrophe. According to the rate trackers, premiums for windstorm and flood insurance in coastal areas – especially in the southeast – have increased anywhere between twenty five and four hundred percent since the hurricane season officially began on June 1st.

A similar hike in deductible levels for property loss is occurring, with deductibles averaging 10 to 15 percent of property value as opposed to 2 to 5 percent last year. And some underwriters are getting out of the field altogether, declining to provide coverage for damages caused by storms of this nature. That would seem to indicate that at least some insurance companies see a long term pattern here, as opposed to a short term aberration such as a drought.

The steep boost in insurance rates represents a major problem for commercial real estate4 companies, as they legally cannot pass through insurance increases to tenants. Investors that have been riding the real estate boom often have heavily leveraged financial arrangements, and a massive increase in insurance could make some loans untenable. Florida has been a center of the real estate boom in recent years; it has been the center of hurricane season for centuries.

The death of a loved one is a difficult subject for almost everyone. We have prepared a very useful checklist of things that need to be done when someone dies, and we hope that you will take the time to read through it now so that if the time comes you will be more prepared. You may also wish to print the page and place it with your important papers for future reference.

MAKING THE NECESSARY ARRANGEMENTS – The death of a family member or close personal friend is a difficult subject for almost everyone. The tendency is to postpone dealing with it until the time comes.Unfortunately, when it does, survivors are expected to make many crucial financial and legal decisions. For a grieving and unprepared person, the pressure to make these decisions can seem overwhelming. It need not be. Preparation is the key.

CONTACT A FUNERAL DIRECTOR – Following the death of a loved one, families usually rely upon the funeral director for guidance. It is important that this person be involved immediately because he or she can begin to help you make arrangements for funeral services and burials.

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Auto insurance is required of every driver in every state in the Union. This is one type of insurance policy that is not an option. The types and levels of coverage can vary widely; auto insurance companies provide multiple options. However, at a minimum, you are required by law to carry coverage that pays for damage to the other party’s vehicle if you are at fault.

You are also required to provide coverage for medical expenses incurred by the driver and passengers of the other car and the passengers in your car, should any injuries be incurred. This portion of the policy may also cover lost wages or damaged personal property that the injured parties suffer as a result of the accident

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It’s understandable. You’re about to be a new parent or adding to your family. It seems logical that now is the time to be acquiring new or additional life insurance. But you’re being told that the insurance company wants you to wait until after the baby is born!??

The fact is, at some (but not all) life insurance companies, underwriters would rather not bear the albeit small, but measurable, mortality risks to the mother of delivery complications and, as such, they will sometimes “postpone” a decision on your life insurance until after the baby is born. This is even more common when a woman is in her third trimester.

So, what can you do? Of course, the best solution is to obtain the life insurance as you’re beginning to think about starting a family…before you conceive. If it’s too late for that, you need to work with a multi-carrier broker. These companies have access to numerous insurance companies, and knows which companies are more flexible about allowing you to obtain coverage during a pregnancy.

With the advent of managed health care, the nature of health insurance has fundamentally changed. In past years, health insurance generally paid some or all of your costs for visits to the physician of your choice and the facility of your choice. Today, this fee for service health care coverage, though available, is costly and an increasingly rare choice.

Managed care plans have become the norm. They fall generally into three categories: HMOs, POS plans, and PPO plans. HMO stands for health maintenance organization. A health insurance policy with an HMO means that you are required to see only employed physicians to whom you are directed by that HMO and utilize clinics, hospitals and other facilities that are operated by the HMO. Your options are completely confined to the medical services provided by the HMO, which is also the insuring entity.

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There are several reasons.

First, if permanent insurance (i.e. whole life or universal life) is purchased at a very young age the insurance company will often guarantee the child the right to buy more insurance later in their life at regular intervals without providing any evidence of insurability. In other words, if you buy a little now, you are guaranteeing your child’s right to buy more coverage later without having to submit to an exam and without having to answer any health questions. If the child later becomes ill, or uninsurable, these privileges could be the only means to obtain the coverage needed when the child becomes an adult. Example: One major company offers a rider to certain whole life plans which allows the insured to increase their coverage by purchasing up to $100,000 on each of 9 option dates between the insured’s age 22 and 46, for a total of $900,000 of additional guaranteed future insurability! If waiver of premium is included and the insured is totally disabled on an option date, the options can still be exercised. As long as the total disability continues, the insurance company will pay for the premium on the policies!

If you, or anyone you know, have ever been declined for life insurance or charged a higher “rated” premium as a result of a health condition, you will be able to appreciate the value of the privilege to purchase insurance, at standard rates, without any medical exams, and without having to answer any health questions!

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For the small and medium sized business, most business insurance plans are packages that cover property losses and liability. The business owner’s policy is a standard package in the industry that provides a framework for basic business insurance. Large businesses and multinationals may have more complex insurance needs, but the BOP is the standard format for all other businesses.

Coverage includes property damage for the business’s building(s) and the assets within the building, including production equipment and inventory. There are varying levels of coverage for the business’s property, some more comprehensive than others.

Business interruption insurance covers the losses incurred by a business when operations are halted by some catastrophe such as fire or storm damage. This clause may also cover the additional expenses incurred when a business must relocate temporarily in order to keep its doors open.

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The homeowner’s insurance policy was initially designed to protect a homeowner in the event of catastrophic damage or destruction of the home. Today, a typical homeowner’s policy goes well beyond paying replacement or reconstruction costs on the house. Homeowner’s insurance today almost always covers your personal property such as furniture, clothing, sports equipment and the like. If these possessions are damaged or destroyed during the damage to the house, they are insured as well – up to a limit.

Also included in the typical homeowner’s policy is liability coverage. This category of protection has little to do with the home, except in situations where the liability is incurred within the home. In that situation, the policy generally has a no-fault clause which provides that the injured party can submit medical bills to your insurance company without the need for legal action of any kind.

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There are number special provisions or extras known as “riders” that, for a price, can be added to your policy. Riders are special additions to the policy provisions that offer benefits not found in the original contract, or that make adjustments to it. These special provisions are, in effect, attached to the policy. Riders are not necessarily found in all policies. Because all riders provide some kind of benefit to the policyowner, an extra premium may be charged for them.

A few examples are:

• waiver of premium
• accidental death and dismemberment
• child rider
• accelerated death benefit
• long term care
• return of premium
• disability income
• and more!!

To keep your head from spinning, talk with your financial planner or life insurance agent. He/she will be able to provide you with a better understanding of what might be good for you.