Property Insurance

Property insurance may be one of the most important types of insurance in terms of financially protecting the property and physical assets of your business. Types of property a business needs to insure include:

• Buildings and other structures, leased or owned
• Furniture, equipment, and supplies
• Leased equipment
• Inventory
• Money and securities
• Records of accounts receivable
• Improvements and betterments you made to the premises
• Machinery
• Boilers
• Data processing equipment and media, including computers
• Valuable papers, books, and documents
• Mobile property, such as automobiles, trucks, and construction equipment
• Satellite dishes
• Signs, fences, and other outdoor property not attached to a building
• Intangible property (goodwill, trademarks, etc.)

There are three types of property insurance plans. The basic property insurance form generally covers losses caused by fire or lightning and the cost of removing property to protect it from further damage (i.e., removing inventory or equipment from a damaged building so it won’t be stolen).

General Information

The Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) program is an automatic provision under Servicemember’s Group Life Insurance (SGLI). TSGLI provides for payment to Servicemembers who are severely injured (on or off duty) as the result of a traumatic event and suffer a loss that qualifies for payment under TSGLI. TSGLI is designed to help traumatically injured Servicemembers and their families with financial burdens associated with recovering from a severe injury. TSGLI payments range from $25,000 to $100,000 based on the qualifying loss suffered. The benefit is paid to the member, someone acting on the member’s behalf if the member is incompetent, or the members’ SGLI beneficiary if the member is deceased. TSGLI coverage was added to SGLI policies effective December 1, 2005. All members covered under SGLI who experience a traumatic event that directly results in a traumatic injury causing scheduled loss defined under the program are eligible for TSGLI payment.

I. WHAT YOU NEED TO KNOW ABOUT LIFE INSURANCE

When a death occurs in a family, those who are left may suffer financial loss – and even hardship. Life insurance is designed to ease those difficulties. Its primary purpose is to protect the surviving members of a family or any other dependent against the loss of an individual’s income or services.

Essentially, life insurance is a means of spreading financial risk among a large number of people who pay premiums. In this way the cost is minimized for those who suffer a loss. A life insurance contract or policy is a legal agreement between a policyowner and an insurance company that provides for the payment of a death benefit upon the death of the insured provided both parties to the contract meet their contractual obligations.

Deciding how much insurance to buy

You should decide how much life insurance you need. You need to look carefully at your individual circumstances. The real value of life insurance is to protect your loved ones after your death. Before you buy, ask yourself:

• What costs and hardships will my family have to deal with after I am gone?
• How will the loss of my salary affect my family?

These questions require careful thought and perhaps a candid talk with your beneficiaries.

Insurance shopping tips

First, set the goals you want. Then shop around. The cost of insurance varies from company to company—as do their services, standards, and policies.

Research the policy carefully to make sure it meets your needs. Once you decide to buy life insurance, don’t delay! Make the purchase. Your beneficiaries will not benefit unless you buy a policy. Also, if you wait, you could develop a health problem, which could cause the rates to go up, or the company could reject your application.

This guide:

• Explains the basics of life insurance
• Describes the types of life insurance available today
• Helps you identify the right policy for your needs

Life insurance basics

This guide can help you when you shop for life insurance. It discusses how to:

• Find a policy that meets your needs and fits your budget
• Decide how much insurance you need
• Make informed decisions when you buy a policy

Important things to consider

1. Review your own insurance needs and circumstances. Choose the kind of policy that has benefits that most closely fit your needs. Ask an agent or company to help you.
2. Be sure that you can handle premium payments. Can you afford the initial premium? If the premium increases later and you still need insurance, can you still afford it?

Raising children is hard work, and sometimes, parents think that their children just do not listen. There is a lot of evidence to the contrary. They will listen to health advice.

A University of North Carolina study found that although children do not want their parents to talk to them about how to dress or the kind of music to listen to, 80 percent say that they actually want their parents to talk to them about health.

GETTING STARTED. Deciding to become more active in promoting healthy eating and lifestyle habits for your children is a decision you will never regret. A great way to start is by talking to your doctor and to your family.

Your doctor can tell you whether your child weighs too much. By using tools, such as growth charts for children, your doctor can determine whether you should be concerned. Your doctor can then work with you to create a solution.