September is Life Insurance Awareness Month! Do you have any life insurance for you or your family?
Life insurance is important because it protects the most important asset to you and your family, YOU. I always ask my clients if they have life insurance just to get the conversation started and the most common statement is "Ya I have life insurance, its through my job." That's great if you have a job that offers life insurance for you but how much do they offer, who is the beneficiary, and does it stay with you if you quit or are let go? These are all very important questions to ask yourself and if you don't have life insurance, what are you waiting for?
I have my clients write the word DIME out.
Debt
Income
Mortgage
Expenses/Education
Debt-How much debt do you have under your name?
Income- How much do you make annually?
Mortgage- How much in mortgage do you have left?
Expenses/Education- How much in final expenses do you expect to have, and if you have children, how much in education do you plan spending for your children either through high school or college?
Add all of these up and you should have at least that amount in life insurance and if you don't it would be wise to start thinking about that. There are different types of life insurance policies out there. I will post another blog getting into detail of the different policies to choose from. A lot of people don't have life insurance because they think its too expensive but in reality, there is a policy out there for you that you can afford especially if you think about the risks for you and your family if you don't have a life policy. Give me a call or email if you would like more information on some different life insurance policies out there and perhaps get a free no obligation quote prepared for you and your family.
www.eknoinsurance.com
Wednesday, September 15, 2010
Tuesday, August 3, 2010
Importance of having the Right Amount of Auto Insurance
In the state of California, every motorist is required to carry bodily injury and property damage liability. Bodily injury liability provides funds for medical expenses, lost wages and pain and suffering if you are responsible for injuring someone in an auto accident. The minimum coverage amounts under California law are $15,000 for bodily injury per person, $30,000 for bodily injury per accident. Property damage liability provides funds to pay for damages to another motorist's car if you are found liable for an accident. The minimum liability limit for property damage is $5,000.
It is important to realize that these limits are the maximum amount of money your insurer will pay out if you are responsible for an accident, and may not be enough to cover damages for which you are responsible. This is the reason you need to choose the right insurance professional to advise you on what limits you need to make sure your assets are protected in the event of a loss.
If you are in an accident and you are at fault you can be held personally responsible for the costs of medical bills if a person is injured and major monetary awards if a person is killed. These costs can all but ruin most families. It can mean selling your home, selling your stocks and bonds, or selling other assets in order to pay the costs. It can also mean years of future payments in the event you cannot pay them all at once. Depending on the amount of the damages, you could spend the rest of your life paying them off.
In addition, depending on the type of car insurance that you have, your vehicle can be repaired or replaced, thus saving you the out of pocket expense of replacing it yourself. The last reason for having the correct amount of car insurance has to do with repair of the other vehicle if you hit someone. As you know, vehicle repairs can be very expensive. If you are shown to be at fault in an accident you may be required to pay for the repairs or the replacement of the vehicle that you hit. Again, this is money that has to come out of your pocket. As an aside to this, you are also responsible for any property damage that you might cause. For example, if you run into a house and cause a wall to collapse, you would be required to make payment for those repairs. One single accident can force you into bankruptcy court if you are not protected by car insurance.
If you or anyone you know have any questions regarding these issues or any other insurance issues, please dont hesitate to contact the Ekno Insurance Agency.
877-472-2517
www.eknoinsurance.com
It is important to realize that these limits are the maximum amount of money your insurer will pay out if you are responsible for an accident, and may not be enough to cover damages for which you are responsible. This is the reason you need to choose the right insurance professional to advise you on what limits you need to make sure your assets are protected in the event of a loss.
If you are in an accident and you are at fault you can be held personally responsible for the costs of medical bills if a person is injured and major monetary awards if a person is killed. These costs can all but ruin most families. It can mean selling your home, selling your stocks and bonds, or selling other assets in order to pay the costs. It can also mean years of future payments in the event you cannot pay them all at once. Depending on the amount of the damages, you could spend the rest of your life paying them off.
In addition, depending on the type of car insurance that you have, your vehicle can be repaired or replaced, thus saving you the out of pocket expense of replacing it yourself. The last reason for having the correct amount of car insurance has to do with repair of the other vehicle if you hit someone. As you know, vehicle repairs can be very expensive. If you are shown to be at fault in an accident you may be required to pay for the repairs or the replacement of the vehicle that you hit. Again, this is money that has to come out of your pocket. As an aside to this, you are also responsible for any property damage that you might cause. For example, if you run into a house and cause a wall to collapse, you would be required to make payment for those repairs. One single accident can force you into bankruptcy court if you are not protected by car insurance.
If you or anyone you know have any questions regarding these issues or any other insurance issues, please dont hesitate to contact the Ekno Insurance Agency.
877-472-2517
www.eknoinsurance.com
Monday, August 2, 2010
My First Blog
Hello everyone. This is my first blog post and I am excited about starting to write about real issues and resolutions in the insurance world. I hope everyone can take something out of the future blogs. Talk to you soon.
www.eknoinsurance.com
www.eknoinsurance.com
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