Wednesday, August 22, 2012

Life Insurance: Protecting Your Loved Ones After You’re Gone

By: Edward L. Blais, JD, CIC

If someone in your life depends on you financially, chances are you’ll want to be sure they are taken care of even after you’re gone. Life insurance is the best way to provide for your family after your passing.

The money provided (known as the death benefit) may offset or replace the income loss and can help your family meet many important financial needs like daily living expenses, mortgage payments, college savings, family emergencies and much more. Additionally, in many cases, there is no federal income tax on life insurance benefits.

Owning life insurance can provide an added sense of security for the insured and beneficiaries. Buying life insurance is all about peace of mind for your family and how you’re able to provide it.

There are various types of life insurance, which range from simple term life insurance (payment made only if death occurs during the term of policy), to the more complicated whole life insurance (payment made whenever the insured dies).

When shopping for life insurance, it’s best to use an independent insurance agent that will search the entire market to find the appropriate plan and rates for you and your family or business.

Because Blais Insurance represents many of the nation’s top rated carriers, we are able to easily search for simple term coverage or more advanced permanent whole life or universal life coverage, depending on your needs.

If you have questions about your life insurance needs and would like additional information, please call Blais Insurance at 401-725-0070.

Wednesday, August 15, 2012

Summertime Pool Safety

By: Edward L. Blais, JD, CIC

Having a pool in your backyard is refreshing for those hot weekends and summer block parties. If you have recently installed a pool at your home and are ready to enjoy the water, remember to consider insurance and water safety.

Fortunately, a pool is considered separate from your dwelling and is therefore covered under the “other structures” section of your homeowner’s policy, similarly to sheds, detached garages and gazebos. 

However, if you have a number of detached structures, or if your pool was on the expensive side, the standard coverage may not be enough. If this is the case, you may want to consider adding a higher amount of coverage for your specific structures.

While evaluating your insurance coverage, you should keep in mind that, no matter the type of policy, insurance will not cover damage done to your pool by freezing, thawing, pressure, or weight of ice or water. This is why it is so important to “winterize” your pool if you live in cold climates.

Not only should you think about the insurance coverage for your pool, but also take a moment to consider liability coverage. Installing a pool increases your chances of liability if someone is injured or killed as a result of using your pool. If you are a homeowner with a pool, we strongly recommend you consider increasing your liability coverage or purchasing an personal umbrella liability policy. 

Remember, it is always best to set up some pool safety rules to decrease your potential liability exposure.

If you have any additional questions regarding insurance coverages for your pool, please contact Blais Insurance at 401- 725 -0070.