Tag: insurance

Help Senior Drivers Maintain Their Independence

October 26, 2017MBEhleAdvice, Healthy, Safety

As men and women age, various factors may affect their ability to drive. In addition to issues with memory, seniors may have failing eyesight and physical limitations, and their reaction time may slow down. In such instances, seniors’ ability to safely operate a motor vehicle may be questioned.

Age alone is not a reliable measure of driving ability, but many ofthe issues that affect one’s ability to safely drive a vehicle tend to appear as men and women near their golden years.

Losing the ability to safely operate an automobile can greatly reduce a person’s independence. That is why periodic driver evaluations may be met with some reluctance. Aging men and women who don’t want to avoid potential conflicts with concerned family members can take their own steps to ensure they maintain their ability to safely operate a motor vehicle.

Schedule a driving safety evaluation

When drivers’ abilities to operate a motor vehicle become suspect,

a thorough evaluation should be scheduled. The evaluation should not be handled by a family physician or family member, but by an unbiased third party like a Certified Driving Rehabilitation Specialist. This is a therapist who has special certification to assist people with disabilities, including older adults, with driving. They can help individuals with adaptive equipment or techniques if driving issues stem from something that can be addressed.

Figure out if the car “fits” the individual

A program called CarFit can help drivers assess if their car is suited to their abilities. A team of trained technicians and/or health professionals work with participants to ensure their vehicles are equipped for maximum safety and comfort. A properly adjusted vehicle is as important as one’s cognitive and physical abilities. Adjustments can include mirror placement, good foot positioning and sitting at the proper distance from the steering wheel. People can learn about an upcoming event at www.car-fit.org.

Take a senior driver safety course

Driver improvement courses are provided by various organizations, including some insurance companies. AARP also has a Driver Safety Course to lower the risk of traffic violations, collisions and injuries. Completion of these courses can help drivers enhance their abilities behind the wheel and may result in lower premiums for mature drivers. Keep the mind and body fit Regular exercise and a healthy diet can be assets for mature drivers. Mental fitness techniques and brain exercises can improve reaction time, while aerobic and strength-training workouts can keep the body in shape.

Driving is one of the key avenues to personal independence. Strengthening seniors’ driving abilities is a goal of many organizations.

Get The Facts On Life Insurance Policies

June 15, 2017MBEhleDIY, Healthy

Few people want to face their own mortality when they are in the prime of their lives. However, thinking ahead and making advanced plans can save family members considerable heartache.

Life insurance policies can help men and women make things easier for their spouses, children or siblings. Life insurance provides financial security in the event of a person’s death. Such insurance is a key element of estate planning and something all adults must consider.

It’s smart to purchase life insurance at a relatively young age because the cost can be lower. Some people put off the process because it can be overwhelming. But Forbes magazine advises that once a person does a little research and learns the terminology associated with life insurance, choosing a policy is not so difficult.

Determine the amount of insurance you will need.

Make a list of expected expenses after you pass away. These may include any residual mortgage payments, school tuitions, automotive payments, or funeral expenses. In addition, approximate how much your family will need to live comfortably in your absence. Online calculators can help determine life insurance coverage needs. The New York Life Insurance Company says a quick way to figure out how much coverage you may need is to take your annual salary and multiply it by eight.

Decide on the type of policy.

Life insurance policies come in two broad categories: term and whole life. Term life insurance may be less expensive upfront, as it only provides coverage for a set number of years. It will only pay out if the policy holder dies during this “term.” Whole life insurance, also called “cash value,” usually costs more, but accumulates a cash value that can be borrowed against, and it pays out whenever a person passes away.

Choose among reputable companies.

You want to ensure the life insurance company you pick will be around for years and has a strong reputation, so give ample consideration to each company you explore before making a final decision.

Know the waiting period.

Many policies establish a period of time on policies wherein there is very little cash-out value and the company will not pay out the full death benefit. This may be a year or two after opening the policy. Discuss this information with the insurance agent.

Life insurance can be a smart financial choice, helping men and women rest easy that their families will want for nothing in the wake of their deaths.

Successfully Switch Auto Insurance Providers

April 20, 2017MBEhleAdvice, Saving, Shopping

Once drivers purchase an auto insurance policy, many simply let the policy renew each year. But with a little digging, drivers may be able to reduce their insurance costs considerably. According to the Insurance Information Institute in New York, consumers should ask themselves if they’re happy with the cost, service and coverage of their existing policies whenever it’s time to renew. If they are, they should stick with their existing policies. However, if customers feel things can be better, then it’s a perfect time to see what’s available. Many driver advocates advise shopping for a new policy every two or three years. When it comes time to switch car insurance companies, follow these steps and remember to avoid gaps in the coverage.

• Compare apples to apples. When shopping for new policies, consumers should compare the same features offered by various providers, including coverage types, deductibles and any limits. Keep a copy of your existing policy’s declarations page so that all quotes can be accurately compared to the existing policy.

• Research any cancellation fees. Before switching over, find out if there are any cancellation fees associated with an existing policy.

• Eliminate coverage gaps. Eliminate gaps in coverage by ensuring a new policy begins the moment the existing one ends. This prevents potential financial ruin should a driver get into an accident without any insurance during a gap period.

• Take note of any lifestyle changes. Be sure to list anything that can affect the cost of coverage, such as anti-theft devices on the vehicle, window etching or updated driving habits.

• Explore union or group affiliations. Drivers who are members of particular clubs, professional organizations or something similar may be eligible for special policies with certain providers. Make a list of any affiliations and contact the organizers to see if they have relationships with auto insurance providers. Law enforcement personnel or veterans may be eligible for certain discounts as well. Some insurance carriers only cover police officers or former military. It pays to look into these discounts.

• Consider small companies. Just because they don’t advertise as much as some of the more well-known providers does not mean small insurance companies are not capable of providing sufficient, affordable coverage. There are plenty of reputable small companies that offer excellent rates to drivers willing to exercise their due diligence.

• Check with the existing provider, too. Drivers can discuss their current rates and coverage with their existing insurance company, who may offer suggestions on reducing coverage or even offer lower prices in an effort to hang on to customers. Consider these possibilities before switching. Shopping around for a new automotive insurance policy may help customers cut rates and increase coverage.

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Get The Facts on Life Insurance Policies

March 9, 2017MBEhleAdvice, Saving

Few people want to face their own mortality when they are in the prime of their lives. However, thinking ahead and making advanced plans can save family members considerable heartache. Life insurance policies can help men and women make things easier for their spouses, children or siblings. Life insurance provides financial security in the event of a person’s death. Such insurance is a key element of estate planning and something all adults must consider. It’s smart to purchase life insurance at a relatively young age because the cost can be lower. Some people put off the process because it can be overwhelming. But Forbes magazine advises that once a person does a little research and learns the terminology associated with life insurance, choosing a policy is not so difficult.

Determine the amount of insurance you will need.
Make a list of expected expenses after you pass away. These may include any residual mortgage payments, school tuitions, automotive payments, or funeral expenses. In addition, approximate how much your family will need to live comfortably in your absence. Online calculators can help determine life insurance coverage needs. The New York Life Insurance Company says a quick way to figure out how much coverage you may need is to take your annual salary and multiply it by eight.

Decide on the type of policy.
Life insurance policies come in two broad categories: term and whole life. Term life insurance may be less expensive upfront, as it only provides coverage for a set number of years. It will only pay out if the policy holder dies during this “term.” Whole life insurance, also called “cash value,” usually costs more, but accumulates a cash value that can be borrowed against, and it pays out whenever a person passes away.

Choose among reputable companies.
You want to ensure the life insurance company you pick will be around for years and has a strong reputation, so give ample consideration to each company you explore before making a final decision.

Know the waiting period.
Many policies establish a period of time on policies wherein there is very little cash-out value and the company will not pay out the full death benefit. This may be a year or two after opening the policy. Discuss this information with the insurance agent. Life insurance can be a smart financial choice, helping men and women rest easy that their families will want for nothing in the wake of their deaths.

This article sponsored by:

Understanding Health Savings Accounts

January 25, 2017MBEhleAdvice, Healthy

Navigating health insurance plans can be confusing. One health insurance product that’s relatively easy to understand is a health savings account, or HSA. This type of account can help account holders save money on the costs associated with their healthcare.

What is an HSA?

HSAs are like any other savings account, except they can be used for medical, vision and dental expenses. HSAs are tax-advantaged, meaning that income can be deposited into an HSA before it is taxed. HSAs can only be opened and used in conjunction with a high-deductible health insurance plan, or those with a deductible of at least $1,300 for an individual or $2,600 for a family.

HSA details and eligibility requirements

Although HSAs have contribution limits, they’re advantageous in that the savings accumulated can be used to pay for noncovered, qualified medical expenses, such as copays, vision and dental care and even deductibles.

HSAs may be established through an employer-sponsored insurance plan or through a bank or other financial institution. To qualify, a person must be under the age of 65 and have a high-deducible health insurance plan.

What are the advantages and disadvantages of HSAs?

There are advantages and disadvantages to HSAs. HSA account holders can control how their saved money is spent, and there’s no risk of losing the money at the end of the year because it rolls over. Taxes are not paid on money going into the HSA. In addition, employers can contribute to HSAs, and account holders do not lose their balances when they change jobs.

Disadvantages include the challenge of setting aside money to put into the HSA, especially if finances are tight. One who has certain medical situations that are urgent may find that budgeting for an HSA is impractical.

A retirement saving vehicle

In addition to the other benefits mentioned, HSAs can be used as a way to invest in retirement. The resource NerdWallet, which offers financial tools and objective advice to help people understand their options and make the best possible decisions, says an HSA is a good retirement savings option, especially for high-income earners who can’t make deductible contributions to a traditional IRA or any contributions to a Roth IRA. HSAs can help offset healthcare costs and even help with long-term financial planning.

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