Bibs. Cribs. Teddy bears and knitted blankets. The gifts pile up when you welcome a little one in to the world. But, one very important gift is often forgotten: life insurance. A little known fact is that life insurance is just as important for children as it is for adults, but for different reasons. For instance, with an infant you don’t need insurance to cover loss of income they earn. But, purchasing life insurance for a child can help guarantee financial security for them and their future family. Here’s how: It will guarantee insurability. You never know what tomorrow will bring. In the unfortunate event that your child develops an illness or medical condition, they may become ineligible to purchase life insurance at a reasonable rate. Purchasing life insurance for your child when they are young guarantees the insurability of the individual for life. If your son or … Read more...

A sailboat's stolen from your yard. Covered? A motorcycle is damaged in your driveway. Covered? Your home is damaged due to a sewer line break. Covered? The answers in brief are depends, depends, and depends, based upon specific policies and circumstances. But a recent survey by the National Association of Insurance Commissioners reveals that many homeowners misunderstand what is included in their homeowners policies. For instance, despite extensive media coverage on Hurricane Katrina victims whose claims were denied because they lacked flood insurance, 33% of respondents incorrectly believe flood damages would be covered by a standard homeowners or property and liability policy. The survey revealed a number of misunderstandings related to common losses: 35% of respondents think damages from earthquakes are covered. Most homeowners policies exclude earthquake-related claims. An … Read more...