November 2007 - January 2008 Newsletter
Insurance Tip of the Quarter from David & Victoria
Tips to Protect Yourself from Credit and Identity Theft
Today's fast paced world of electronic convenience has made identity theft an ever-increasing problem. You probably know someone who this has happened to – it may have happened to you. It can be a nightmare – and an expensive and time consuming one at that. There are simple actions you can take that can help to protect your identity and your credit rating:
- When you order checks, don't use your full first or middle names; use your initials with your full last name instead. Who's going to guess that “B” stands for “Barbara” or “Bertram” when attempting to forge your signature?
- Instead of using your home phone number on your checks, put your work number.
- In addition, if you have a PO Box, use it for your address and never, ever publish your Social Security number on your checks.
- Make photocopies of every piece of identification that you carry with you daily – and be sure to copy both sides. Keep the copies in a safe and handy place. If you're wallet is ever stolen, all the information you'll need – auto license and registration, credit card account numbers, and customer service hot lines, will be available to you in one place.
- If your credit cards are stolen, file a police report in the jurisdiction where it was stolen immediately. You'll want enough back-up proof as possible for your credit card issuers that you were diligent.
- If your credit cards are stolen, call all national credit reporting organizations immediately to place a fraud alert on your name and Social Security number. The alert lets any company that checks your credit to know that your information was stolen and that they are to contact you by phone to authorize any new credit.
Their numbers are:- Equifax, 800-685-1111
- Experian, 888-397-3742
- Trans Union, 800-888-4213.
- In case your Social Security card or number is stolen, it may be best for you to notify the Social Security Administration at 800-269-0271, too.
While no amount of caution can be totally fool-proof, being aware of the potential identity and theft possibilities and of how to protect ourselves –even if we fall victim - are simple steps to give us added defense.
Protecting Your Income
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Life, homeowners, and other types of insurance policies provide important kinds of coverage, but they will not safeguard you from financial impact if a disability prevents you from working. The stark reality is that without disability income insurance, a serious injury or illness could be financially devastating to you and your family..... Read Complete Part 1 Article Disability insurance is known by various names such as Disability Income Protection, Disability Income Insurance, or Income Replacement Insurance. The basic function of all of the policies is the same: To replace a portion of your earned income in the event you cannot earn a living due to a sickness or accident. The different names are mostly a factor of what the insurance company chooses to label their product..... Read Complete Part 2 Article |
Term Conversion: A “Permanent” Solution
Term insurance is typically purchased to protect a growing family from the catastrophic loss of a “breadwinner”. Lower initial premiums offer the flexibility to fit immediate needs. However, over time, a more permanent and valuable life insurance contract may be needed to help provide security and the potential for more stable premium payments for the future.
The low premium cost/high death benefit of term insurance is its most attractive feature. However, typically, term insurance premiums continue to rise with age. Some term contracts do offer premiums that remain level for a pre-determined number of years, but these contracts can experience significant premium increases in the future, or death benefits that decrease yearly. A policy that has long-term value and benefits, and the flexibility to help cope with change, is important. Therefore, converting a term policy to a permanent contract may make sense depending on your needs.... Read Complete Article
Asset Allocation: A Key To Portfolio Success
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For many investors, investing typically begins with one stock or mutual fund. Over time, other selections are added because many people understand it may not be prudent to invest everything in a single security, even if it has a “blue chip” reputation. However, just “spreading money around” in a haphazard way may create only an illusion of diversification.... Read Complete Article |
Three Advantages a Roth IRA May Offer Your Estate Plan
Many may not consider the possibilities that a Roth IRA can offer an estate plan. But, there are three advantages that a Roth IRA can offer if your estate value is under the Applicable Exclusion Amount ($1.5 million in 2005, and $2 million in years 2006 & 2007) and if one of your planning goals is to leave as much money as possible to your heirs..... Read Complete Article
A Business Succession Plan Can Go A Long Way
There comes a point in time when almost every small business owner contemplates the future of his or her business. Because “the business” typically is a substantial asset, an owner must address a number of estate planning issues that will affect the future stability of the company. A business succession plan is a comprehensive look at the estate planning picture that can include everything from shareholder buy-sell agreements to management plans and any other documentation that will help ensure the smooth operation of the business. While traditional estate plans are designed with tax minimization in mind, business succession planning, in addition to such considerations, is aimed at maintaining the future health of the business.... Read Complete Article
Secure The Future Of Your Business
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When it comes to your business, hoping for the best won’t ensure its future. Take Jack Stanton for example. Jack spent thirty years building a manufacturing giant, Stanton Solutions Corporation. However, due to the rigors of maintaining his company, he had little time for any personal financial and estate planning. Then, Jack died unexpectedly in a boating accident. All of a sudden, Stanton Solutions, a multi-million dollar manufacturing empire was facing an uncertain future caused by the loss of its owner and upper-most key executive. What would happen to your business and your family should you become disabled or die unexpectedly? Do you have key employees for family members who could step in and run the company in your absence?.... Read Complete Article |
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