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Monthly Archives: March 2012

New York Life Insurance Choices and Annuity Investments

Choosing life insurance and annuities for retirement investments can be a complicated task, but because of the many choices, they should be thoroughly researched.

 

Making sure one has enough money for retirement can be worrisome and confusing.

 

Outliving one’s retirement funds could possibly be one of the scariest thoughts when thinking about retirement. But there is an investment product available that can help make sure there is enough money available no matter how long one may live.

 

An annuity can provide income for life. Unlike traditional life insurance where beneficiaries would get a payment when the policyholder of the life insurance policy died, with an annuity the policy holder can collect the life insurance money while they are still living. In fact, many companies that have retirement plans or pensions are actually using annuities to provide those retirement funds to their employees.

 

Annuities are a great tool for one to consider when choosing a retirement vehicle. Of course, as with any retirement portfolio, an annuity should not be the only retirement choice but should be used in conjunction with other retirement funds such as one’s personal savings and 401K plan.

 

There are four basic types of annuities:

 

·         Fixed Annuity: This annuity will provide a certain dollar amount of payments over a specific time period or term.

·         Variable Annuity: The variable annuity will provide varied payments because the payments are based on the performance of the investments in the annuity.

·         Immediate Annuity: In an immediate annuity the annuity payments would begin immediately after the payment of the annuity is made.

·         Deferred Annuity: With a deferred annuity the annuity payments would start at a later time period in order to give the annuity investments time to accumulate more.

 

Choosing the type of annuity for one’s investment portfolio can depend on many factors including the age of the individual, how much they already have saved for retirement, how much of an annuity premium can they afford, how much they want for retirement and how and when they want their retirement money paid to them.

 

Annuities are a complex product. There are many other considerations to factor such as the tax advantages and/or disadvantages compared to other retirement vehicles, annuity surrender charges, and available payouts if the annuity policy holder is admitted to a nursing home facility, varying fees such as commissions and surrender charges and the strength of the insurance company providing the annuity.

 

Because of these considerations and the complexity and importance of what the annuity is being used for, one should always consult a professional to help them find the best New York Life Insurance  and annuity for their personal retirement situation.

 

Why You Need Long Island Auto Insurance!

In Long Island, auto insurance is very much a necessity. While this statement could be applied to any part of the country, it proves to be especially true in regions that boast large populations. The more people and cars on the road, the more likely you are to be involved in some form of motor vehicle accident.

Many of the collisions that occur each year are due to distractions while driving. One major disruption to safe driving is cell phones. Talking to a friend, waiting on hold for the next available agent, and texting could steal your focus, which should always be on the road in front of you when you are driving.




Cells phones are only part of the problem though. Drivers could be easily distracted by eating and drinking behind the wheel. Having a heated discussion with the passengers and dancing to the music on the radio could also be detrimental to your concentration. Even small things, such as a bee flying into your car or a dropped cigarette could be enough to send your vehicle flying off the road.

While you may not be able to prevent all distractions and accidents from occurring, you could limit the financial burden they cause by making sure your car insurance is in effect. Driving without Long Island auto insurance could leave you shouldering heavy repair bills after a collision!

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PLAY IT SAFE AND GET AUTO INSURANCE

Don’t share cars among family members, as this will increase your premiums. If there is a 1:1 correspondence between people and cars, your auto insurance will cost less.

What kind of car you have greatly influences what NY Car insurance you should buy. If your car is an older model with a low resale value, your coverage needs will differ than if your car was a brand new model. Also look into the theft rate in your area for your vehicle. Even some older cars get stolen often, you should think about getting some comprehensive coverage.

Be careful to never lapse on your coverage since this could increase the amount you would have to pay for your auto insurance. Switching between many different policies and insurance companies can cause gaps in coverage, even if unintentional. If your insurance company notices that there have been periods when you weren’t covered, you could be in for a costly rate increase.

There is one simple and somewhat surprising way for young men under 25 to see significant savings on their insurance: get married. Married men can save up to 40% on NY Car insurance costs. So, if you haven’t picked a date yet, you might want to think about doing that.

You can get rather large discounts from many of the larger auto insurance companies by buying coverage for everyone in your household through a single provider. You could save hundreds, even thousands of dollars per year in monthly premiums by insuring all of your vehicles together.

The tips provided here will help the majority of insurance shoppers. Apply these tips to get your auto insurance payments under control. Using this article as a guide, you can get the insurance coverage you need at a price you can afford.

Positive Thought for this Week
“I try to avoid looking backward and keep looking upward.”
Charlotte Bronte
1816 – 1855 English novelist

9 REASONS TO CONTACT YOUR INDEPENDENT INSURANCE AGENT ON YOUR AUTOMOBILE

Your independent insurance agent provides a service to their clients by being available. Clients need help with all sorts of things when it comes to New York Auto insurance. Take a look at the top 10 reasons to contact your independent insurance agent.

1. File a Claim

After an accident, it can be stressful filing a claim. Easiest solution is to contact your independent insurance agent and ask them to file the claim for you. The agent will take down the details of the claim and a claims adjuster will contact you to verify all the information.

2. Trouble with Your Claim

If your claim isn’t going smoothly, your independent insurance agent is a great source to get things straightened out. It is especially true if the problem between you and the claim representative is poor communication. Many agents do not handle claims first hand but they do want your claim to go smoothly. Often agents will make the appropriate phone calls to managers and reps to ensure the claim stays on track.

3. Add or Remove a Driver

If you are looking to change drivers, you should call your independent insurance agent. Lots of reasons exist to change number of drivers on your policy. Whether you are adding your new spouse, adding or removing a teenager, or splitting off your drivers after a divorce your independent insurance agent can help guide you through the process.

4. Add or Remove a Vehicle

Taking vehicles on and off is a common occurrence on policies. It is a good idea to call and get a quote from your independent insurance agent to see what the price will be when adding a vehicle. It works the same if you are selling a vehicle, your agent can let you know how much you are saving.

5. Moving

Always notify your agent of a move. It is important your insurance company can contact you through both mail and phone. Even if you are moving out of state, let your agent know, he may be able to look up agents in the area who sell the same insurance carrier.

6. Questions about Payment

Billing questions are extremely common. Changes to your policy, renewals, and late fees can all affect your payment and raise questions. Lot of payment options are also available, contact your independent insurance agent to go over all the options.

7. Change Coverage

Sometimes you just need to change the coverage on your existing vehicle. Maybe you are putting your sports car in storage for the winter. Your independent insurance agent will be able to give you advice on your decision and also make sure the change gets processed correctly.

8. Inquire about Cheaper Insurance

The only stupid question is the one you do not ask. Asking your agent to review your policy is a great way to potentially save some cash. Discounts could have been missed or rating options could be applied improperly. If your rate has gone up, renewal is the perfect time to check and see if cheaper insurance is available with your current carrier.

9. Adding more Policies to Get Multi-Policy Discount

Always call your independent insurance agent if you are purchasing a home and need home insurance. You should be eligible to save on your insurance with the multi-policy discount. If the discount is not available then it is time to start shopping elsewhere. But a great tip is to always start with your current independent insurance agent.

If you have any questions or concerns regarding your automobile insurance a representative at C.H. Edwards will be more than happy to help.

Positive Thought for this Week
“Simplicity and repose are the qualities that
measure the true value of any work of art.”
Frank Lloyd Wright
1867-1959
American Architect

IS INSURANCE CHEAPER ON BRICK HOME VERSUS FRAME HOME?

It depends on your location.

Yes, Home insurance New York is cheaper if you have a brick home as compared to if you had a wood frame home if you are living in an area prone to high winds. This is because a home that is made of strong materials such as brick or cement. Of course, this kind of house will be more able to withstand catastrophic events such as a windstorm or a fire. On the other hand, a wood frame home located in the same area is more expensive to insure since it is more prone to fire and is easily destroyed by high winds.

Saving Money on Long Island Home Insurance with Our Services!

With high real estate costs, high demand for property, and a higher cost of living than the average city, it is essential to save money whenever possible when you live on Long Island. Home insurance is one area where you may be able to save money. 

The following tips may help you see savings right away:

How can you save money on your home policy? Those who also have car, life, and health insurance should consider bundling their policies if possible. Much like bulk stores, insurance providers may offer savings to those who buy in “bulk”, so make sure to ask about multi-policy discounts if this applies to you. 
 
When you have a low deductible on your home insurance, you may feel that this is saving your money each time you file a claim. The truth is that lower deductibles often translate into higher policy costs. The reason for this is that a low deductible, in the eye of your insurer, means that you are more likely to file a claim – or multiple small claims. Homeowners with deductibles of $500 or more could see savings on their insurance premium rates.

Long Island home insurance does not have to be expensive or complicated to purchase. Contact one of our agents today to find out if you qualify for savings!

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