Following
are interesting bits of information on various subjects such
as insurance, finances, taxes, retirement, etc. Please contact
us for more information.
1. If you are like most American workers, you
change jobs every few years. What should you do with the funds
you built up in your 401(k) or other employer-sponsored plan?
2. If you are a business owner or part of a
professional practice, you probably already have protection
if one of your partners dies. Did you know that the risk of
disability is much greater than the risk of death? How do you
protect against the devastating effects of an accident or illness?
3. Did you know that 40% of the people who
need Long Term Care are between the ages of 18 and 64? Traditional
health insurance policies generally do not pay for LTC services.
4. Find out how a business owner can get Long
Term Care insurance for himself with no medical exam, have the
premiums paid through company dollars, get a substantial corporate
tax deduction AND select which other employees (plus spouses
and immediate families) would be eligible for this coverage.
5. More than 7 million Americans are long-distance
caregivers, defined as someone who cares from afar for a chronically
ill person. The numbers are rising and the cost is high in both
money and time. How can you help to meet the challenge?
6. Whether you take a lump sum or annuity option
at termination or retirement, find out how what the Federal
Reserve does with interest rates affects your payout.
7. Are you sure that your homeowner's policy
provides full "guaranteed replacement value" coverage?
Many insurance companies began in the 1990's to quietly switch
to a similar sounding policy with an important difference. You
may not realize the new definition of "replacement"
until you suffer a loss that is inadequately covered.
8. Because of increasing competition, term
insurance premiums have dropped by half in the past 10 years.
You can provide priceless basic protection for your family for
about the cost of a cup of coffee a day.
9. New York Governor Pataki recently signed
a bill authorizing an increase from 10% to 20% in the tax credits
for premiums paid for Long-Term Care insurance. This means a
direct dollar for dollar credit against New York State income
tax for 20% of the premium!
10. Estimates range from 66% to 95% of Alzheimer's
patients who are cared for at home by family members. These
caregivers provide free labor worth about $100 billion a year.
However, the caregivers pay a high price emotionally, physically
and financially.
11. Consider strongly all your options before
deciding whether or not you should do without health insurance
if you are cutting back on expenses. If the unexpected happens
and you are hospitalized even for just one night, the hospital
bill could be devastating. The uninsured actually pay much more
than insurers, the government (Medicare and Medicaid) and other
providers. If cost is a major factor, consider getting a health
insurance plan that covers only "catastrophic" expenses.
12. Saving for your children's or grandchildren's
college education may actually hurt their chances of getting
financial aid. Consider the right and wrong ways to plan.
