Financial Intel Monthly

An Overview of Renter's Insurance

Feb 11, 2020 9:30:00 AM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, insurance, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG, Renter

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Renters sometimes overlook the need for insurance based on the belief that they may not have a significant amount of personal possessions, or because the property is already insured by the owner.

While it is true that a rental property is insured by the owner, the destruction or loss of your personal belongings is not. But, that’s not the only risk renters need to worry about.

The typical renter’s insurance policy will cover your possessions against losses arising from fire, smoke, lightening, theft, vandalism, explosion, wind storm, and water damage (excluding floods).

Even if you don’t believe that the value of your personal possessions warrants insurance protection (though you may think differently after an inventory of their value), renter’s insurance covers other potential risks that can adversely impact your finances.

Renter’s insurance will cover damages and costs in the event that visitors are injured in your apartment or elsewhere by you, your pet, or a family member living with you. This includes any legal defense expenses if you are taken to court.

A renter’s policy will also cover additional living expenses should you be unable to live in your apartment due to a covered peril, such as fire, though the policy may set limits on how much you will be reimbursed.

You should make sure you know whether a policy insures for actual cash value (pays to replace your possessions after reducing for depreciation) or for replacement cost (which pays the actual cost of replacing items, up to policy limits). In most cases, replacement cost coverage is the smarter option.

If you have any possessions of particularly high value, such as art or jewelry, you may want to add a floater to the standard renter’s insurance policy.

If you are living with a roommate or domestic partner, you should inquire how the policy is expected to cover both parties as state regulations and insurance policies may vary.

Renter’s insurance is usually quite inexpensive, so if you are unsure whether to purchase a renter’s policy, talk to an insurance agent and obtain a quote. The low cost of protection may make a smart decision easier.

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How Can I Upgrade My Insurance: Tax-Free?

Feb 10, 2020 1:19:35 PM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, insurance, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG, tax-free

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Responding to the changing needs of consumers, the life insurance industry has developed some alternatives that go much further in satisfying a variety of financial needs and objectives than some of the more traditional types of insurance and annuities.

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Beyond the Basics: Disability Income Insurance Riders

Feb 6, 2020 2:30:43 PM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, insurance, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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Riders are policy add-ons that enable you to customize an individual disability policy to fit your needs. By using riders, companies do not require every policyowner to pay for every optional feature, whether they want it or not.
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Why Buy Insurance?

Feb 5, 2020 12:28:36 PM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, insurance, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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When you drop a quarter into a slot machine, you know that your chances of winning are pretty slim. But risking a quarter (or perhaps much more than a quarter) may be worth it to you if the potential payoff is great enough. Insurance is a lot like that. You pay premiums not because you expect to die today, get into a car accident next week, or lose your home in a fire next month, but because the peace of mind it offers and the financial protection it could provide are worth it. You don't have to bear the risk of financial loss alone. Insurance is all about risk and financial protection.
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Errors and Omissions Insurance

Jan 29, 2020 3:15:00 PM / by The Retirement Group posted in CAM Annuity, Chevron, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, insurance, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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Errors and Omissions (E&O) insurance has many names. For some healthcare professionals, it’s called malpractice insurance. For lawyers, it may be called professional liability insurance.

Whatever name it goes by, E&O insurance is designed to protect you or your company from potential financial damages that may arise from a client holding you responsible for a service you provided that did not meet an expected or promised outcome. Some E&O policies are designed to protect you from claims of a failure to provide a service. E&O covers risks that your general liability insurance policy probably does not.(1)

Most E&O policies cover judgments, settlements, and defense costs associated with any civil suits initiated by a dissatisfied client.

Who Should Consider?

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Buying Short-Term Health Insurance

Feb 18, 2019 5:20:46 PM / by The Retirement Group (800) 900-5867 posted in ExxonMobil, financial freedom, Financial Planning, health insurance, insurance, Money, The Retirement Group LLC, 72t, age penalties, AT&T Pension, AT&T seminar, Benefit Commencement Date, benefit commencement date, benefits help, Verizon Pension

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doctor pointing at tablet laptop Buying Short-Term Health Insurance

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Health Insurance for Travelers

Feb 5, 2019 9:38:53 AM / by The Retirement Group (800) 900-5867 posted in financial freedom, income, insurance, invest, life insurance, Money, priorities, Retirement, Retirement Planning, retirement planning, stocks, The Retirement Group LLC, travel, 401k, access.att, Age Penalties, ATT

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Handling a Dispute with Your Insurance Company

Jan 10, 2019 9:46:16 AM / by The Retirement Group (800) 900-5867 posted in broker, crytocurrency, Early Retirement, Economic Report, Economy, insurance, insurance agent, legal, life insurance, Money, money management, PPA, Retired, retirement planning, The Retirement Group, third party, Uncategorized, 401k, 72T, access.att, Age Penalties

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How Much Auto Insurance Do you Need?

Jan 7, 2019 2:27:41 PM / by The Retirement Group (800) 900-5867 posted in financial freedom, insurance, investments, Money, savings, taxes, The Retirement Group, auto, medical

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Life Insurance and Charitable Giving

Nov 6, 2017 8:51:56 AM / by The Retirement Group (800) 900-5867 posted in Chevron, financial freedom, In Service Withdrawal, insurance, Northrop Grumman, Option 1 withdrawal, Pension Options, Retired, The Retirement Group, 401K, 72t, Age Penalties, age penalties, AT&T seminar, att workshop, benefit commencement date, benefits help

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Life Insurance and Charitable Giving

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