LIFE INSURANCE AND YOUR GLENDALE, AZ INSURANCE BROKER

If you are anything like me, you looked in the mirror on January 1st and said, “Whew!!!  Made it through another year!”  The hair, I noticed, was a little grayer, and the spring in my step is more like “BOING” than “BOING,” but, by golly, I made it through! The reality that hits you at this point, or at least it should, is, “There’s no guarantee I’ll be standing here saying the same thing next year!”  That’s why, like it or not, if we are at all pragmatically minded we must soberly think about LIFE INSURANCE AND YOUR GLENDALE, AZ INSURANCE BROKER.

“One of the issues we face,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, offered somewhat sadly, “is that to many people, thinking and/or talking about Life Insurance is not a pragmatic undertaking but more of a morbid one.”

The reality, of course, is that we all are going to die eventually, and we have no idea how soon that is going to be.  As a result, we drag our feet when it comes to making sure that we are doing everything we can do to ensure that the ones we love will be taken care of financially should anything happen to us.

“Another thing I frequently run into,” Bivona added with an air of understanding in his voice, “is that the whole concept of Life Insurance is ‘too confusing.’  The reality,” he hurriedly added, “is that this is not a complicated issue.  Actually, there are only two major considerations you have to concern yourself with.”

The two “issues” Bivona was referring to is, “What Types of Life Insurance are there?” and “How much Life Insurance do I need?”

TYPES OF LIFE INSURANCE

Term Life Insurance – Temporary life insurance that offers simply a death benefit and is generally less expensive than permanent insurance. It’s ideal for short-term life insurance needs, like when you are raising a family, paying off a mortgage, or starting a business.

Whole Life Insurance – Permanent life insurance that gives you a guaranteed death benefit, guaranteed level premiums, and guaranteed cash value that increases each year.

 

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Blended Life Insurance – Permanent life insurance with added flexibility. It lets you “dial-in” your premium to the level of whole life and term insurance desired. Offers lifetime protection through a blend of whole life insurance plus term insurance and paid-up additional coverage.

Universal Life Insurance – Permanent life insurance that allows you to increase or decrease your death benefit and your premium is flexible; subject to any limitations in the contract.

Variable Universal Life Insurance – Permanent life insurance that gives you a flexible premium and the potential to build accumulated value. However, death benefits and other values may vary, because you direct how the cash is invested among the investment portfolios offered.

(The above was taken from “Life Insurance 101: What you Need to Know”)

HOW MUCH LIFE INSURANCE YOU NEED

When purchasing life insurance, think about your goals for your overall financial strategy, your economic value to your loved ones, as well as your wishes for your survivors.

First you’ll need to calculate your economic value. To calculate your economic value–the value of your future earnings over your lifetime–consider the following factors:

Your current annual earnings.

The amount your annual earnings may increase.

How many years you plan to work until retirement.

The rate of return you expect your invested assets to earn.

You can use these numbers as a starting point when you sit down with a financial professional to determine the level of coverage you might need. Another key factor is the consideration of how much of your future economic value you want to replace in the event of your death. This will depend on the financial goals you set for yourself and your survivors.

(The above was taken from “Life Insurance 101: What you Need to Know”)

As you can see, being aware of LIFE INSURANCE AND YOUR GLENDALE, AZ INSURANCE, certainly is not something you want to ignore if you are, in fact, responsible for someone’s financial needs!  As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

(To learn more about this issue, research “What you Need to Know about Life Insurance”)

 

 

 

EXECUTIVE COMPENSATION or KEY MAN INSURANCE AND YOUR GLENDALE, AZ BUSINESS INSURANCE

How would you answer this question:  “How much do you earn annually?”  Most of us, undoubtedly, would give the dollar amount that is reflected on our 1040.  The thing is, if we really explore this question we would find that some of the other types of compensation we receive also enter into the parameters of “what we earn.”  There are a host of Insurances that qualify here, and one of the most important that an employer can use to ensure that they keep their key executives is a properly purchased Life Insurance Policy.  As a result, if you have a business and want to make sure that you keep your key executives, you should be most interested in EXECUTIVE COMPENSATIONor KEY MAN INSURANCE AND YOUR GLENDALE, AZ BUSINESS INSURANCE.

“Obviously,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, shared, “this isn’t for everyone.  However,” he went on, “it might be something you may very well want to consider.”

There are several “qualifications” that will help you determine it this is something you should be contemplating, including but not limited to:

  • The executive qualifies for a policy that can provide both significant cash accumulation and a sufficient survivor benefit.
  • The executive should have a need for life insurance for personal reasons, such as family protection and retirement planning.
  • The executive is willing to let the firm control policy proceeds.
  • Once you have agreed that this is a viable situation for you and your executive, there are a couple of other things you will want to consider:
  • The whole point of this benefit is for the employer to subsidize the cost of a life insurance policy that can have a major impact on the life of the executive. Because these policies can cost substantial amounts of money, the employer will take on a considerable expense in financing them. Make sure your financial experts talk to your insurance advisor about how to minimize the tax impact for both your firm and your executive.
  • The lower the cost of the insurance, the higher cash value and survivor benefit a policy will provide.To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.(To learn more about this issue, research “LIFE INSURANCE AND KEY EXECUTIVE RETENTION ”)
  • As you can see, being aware EXECUTIVE COMPENSATION or KEY MAN INSURANCE AND YOUR GLENDALE, AZ BUSINESS INSURANCE, certainly is not something you want to ignore if you do, in fact, have key executives that you want to retain as part of your firm! As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Business Coverages.

LEASING CO-WORKING SPACE AND YOUR PEORIA, AZ BUSINESS INSURANCE

There are several ways for entrepreneurs to make more money with their new companies including, but not limited to:

  • Raise your Prices – Tough to do when you are just starting out!
  • Increase your Sales – Sometimes easier said than done.
  • Reduce Production Costs – Please see Above!
  • Reduce your Monthly Overhead.

Often this is the one people most seriously consider, and one way they accomplish this is by leasing co-working space from someone so that their rent can be reduced. If this is something you are considering, or have recently done, you are going to want to fully understand the ramifications of LEASING CO-WORKING SPACE AND YOUR PEORIA, AZ BUSINESS INSURANCE.

“While this may seem like an excellent solution, and many times is,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, noted, “make sure you understand all of the ‘ins and outs’ of your Insurance needs and responsibilities.”

Things you need to understand include, but are not necessarily limited to:

  • Not Assuming Your Property is Covered – While the building you are in may be covered, that does not mean that all of your stuff is. This includes such things as Office Furniture, Computers and Inventory.
  • Make sure you Understand Your Liability – You may be held responsible for accidents that occur on the premises, especially to your employees or clients.
  • Protect Yourself From “Cyber Liability” Exposures – If you offer “Free Wi-Fi,” or even allow clients to just use it occasionally, you must recognize the fact that shared networks are most susceptible to being unprotected.

As you can see, being aware of LEASING CO-WORKING SPACE AND YOUR PEORIA, AZ BUSINESS INSURANCE, certainly is not something you want to ignore if you are, in fact, preparing lease co-working space!  As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

 To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

 

(To learn more about this issue, research “Insurance Considerations of Leasing Co-Working Space”)

 

WHY DRIVER MONITORING DEVICES ARE YOUR FRIEND

I used to wonder what FLO was talking about in those Progressive Insurance ads about the “SNAPSHOT” device.  Then most of the other companies started offering the same option, each under its own branded name.  They claim they can save you money, but have you been reluctant to find out more about it?  Scared, maybe?

I know I was. And I’m actually an insurance agent.  I asked:

What, exactly, is it?

What information does it gather?  How?

Who gets the information?

Do I really want someone to keep tabs on my driving habits?

Can I actually expect a discount on my insurance if I participate?

So, when I changed my insurance from one carrier to another, I was given the option to try their plug-in device for 90 days.  They gave me a 5% discount just for agreeing to the program, with the assurance I would not lose that discount even if my driving was not stellar.  Then, there was the further incentive of higher discounts if I did display good habits.

What good driving habits?  This is what they monitored:

 

  • Hard braking
  • Rapid acceleration
  • Number of miles the car was driven
  • What time of day or night the car was driven

 

How did it work for me? Since I had access to the same data the company did, I was able to see my driving patterns for myself. Ouch!  Apparently I drive a moderate amount of miles at the right times of day and night, with no rapid acceleration; BUT I learned that I was a “hard-braker”.  Who knew?

 

When I started paying more attention, I learned to moderate my braking.  It was fun checking into the site and seeing my own improvement.  The first words to greet me were always “You are on your way to a ______% discount.”   It was even more fun to check exactly when the hard-braking instances occurred and know it was my spouse driving instead of me!

 

How did this work out at the end of 90 days?  I ended up with a very nice discount, thank you, and believe I’m a better driver for it.

 

Would this be a good idea for you if the opportunity arises?  Ask an independent insurance agent like JIM BIVONA of BIVONA INSURANCE GROUP, LLC, who serves the Arizona communities of Glendale, Peoria, Anthem, Phoenix and suburbs.

 

Sue Mersing, Independent Insurance Agent

RENTING A CAR AND YOUR GLENDALE, ARIZONA AUTO INSURANCE

Renting a car can make a trip easier, and they come in handy if you’ve been in a fender bender or your car is in the shop for repairs.

As a go-to source for travel information, AAA reveals six things for consumers to check before renting a car:

  1. Do the math. An unbelievably low rate might not be so low when everything is said and done. Clarify taxes, surcharges and other fees you’ll be expected to pay in advance. If it sounds too good to be true, it probably is.
  2. Plan ahead. Before arriving at the rental counter, decide whether you’re going to insure your rental. Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, says you should speak with YOUR insurance agent before you deal with the rental car agency, so you understand completely what you already have, and what you will need
  3. Check restrictions. If you’re planning to drive across state lines or on a dirt road, check to see that it’s OK before you lock in your rental deal to avoid extra charges and/or penalties.
  4. Be on time … but not too early. Dropping a rental off late or early could result in extra charges. Call ahead to explain your situation and see if there’s any wiggle room on these fees.
  5. Supply your own car seat. If traveling with children, you can save $13 a day by providing your own child safety seat rather than renting one from the car company.
  6. Ask for discounts and deals. Often times, discounts are available through organization memberships and affiliations. When renting through Hertz, for example, AAA members receive the following benefits:
  • Discounted GPS rental (a savings of $10 per day)
  • Additional AAA member-driver at no charge (a savings of more than  $13 per day)
  • Use of child seat at no additional charge (a savings of $13 per day)
  • 10 percent off Hertz’s per-gallon price for Fuel Purchase Option

To make sure you don’t get hit with surprise charges once you turn in your rental, consider the following:

  • Inspect your rental car and note any existing damages such as dents, scratches, broken items and smells before you drive off the lot. When you return the vehicle, complete the walk-through with the rental car agent.
  • Write down anything you discover doesn’t work as you drive, such as windshield wipers, radio, air conditioning and CD players.
  • If you do not select the prepay fuel option, find a gas station close to the rental car return and fuel up before returning it  – keep the receipt just in case you need it.

If you still have questions, you should contact Jim Bivona at 623-256-1000, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

DRIVING TO MEXICO AND YOUR GLENDALE, AZ AUTO INSURANCE

DRIVING TO MEXICO AND YOUR GLENDALE, AZ AUTO INSURANCE

 

South of the Border

Down Mexico Way….

What a wonderful old song!  And, popular in virtually every genre of music, as it has been recorded by everyone from Gene Autry to the Doobie Brothers; from Patsy Cline to Perry Como!  If you, like the characters in the song, are hoping to make a trip to Mexico, it would, undoubtedly, behoove you to make yourself familiar with DRIVING TO MEXICO AND YOUR GLENDALE, AZ AUTO INSURANCE.

“What you need to remember,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, shared with a grin in his voice, “is that going to Mexico in 1939, when the song was written, is a whole lot different than going in 2016!!!  In fact,” he added, “there are a number of things in particular you should be aware of if you are planning on driving to Mexico in the next little bit.”

Bivona is absolutely right. These “things” include, but are not limited to:

  • Get Insurance before you goMexican Auto Insurance.
  • Have Proper Documentation – Everyone in the car needs a Passport; Drivers need current Driver’s License and should have a valid Insurance Card; Depending how far into Mexico you are travelling and/or how long you are staying, you may also need an “Entry Permit” or Forma Migratoria Multiple.
  • Watch Your Speedometer and Know the Rules – Some Mexican rules are obscure to many American, such as you can’t drive a car unless the owner is in it!
  • Take Inventory of your Souvenirs – Know what you can, and can’t, bring back. Apples and oranges, for example, are taboo!To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.(To learn more about this issue, research “Tips for Driving to Mexico”)

 

As you can see, DRIVING TO MEXICO AND YOUR GLENDALE, AZ AUTO INSURANCE certainly is not something you want to ignore if you are, in fact, preparing for a trip to Mexico! As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

RETIREMENT SECRETS AND YOUR PHOENIX, AZ INSURANCE

Darling, I am growing old

Silver threads among the gold  

            Wow, it’s been a long time since we have heard from our old friend, Eban Rexford!  When he penned, Silver Threads Among the Gold in 1873, Retirement was something reserved for a very precious few.  Today, however, the vast majority of us spend at least part of each week thinking about Retirement – – either dreading it or looking forward to it!  Regardless of which camp you find yourself in, you are going to want to know about RETIREMENT SECRETS AND YOUR PHOENIX, AZ INSURANCE.

             “Recent studies show,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, shared somewhat philosophically, “that there are a number of facts that the majority of Americans either don’t know about, or at least don’t think about, when it comes to Retirement.”

Those facts include, but are not necessarily limited to:

You will probably need Long-Term Care (and you will have to pay for it).

  • Homeownership rates are trending downward during Retirement.
  • You will still pay (some) Income Tax in Retirement.
  • Social Security Full Retirement Age will increase soon.
  • Average Retirement Savings will generate less than $500 per month.

“If,” Bivona shared reflectively, “you have a Financial Advisor and Insurance Broker that you can trust and work with, many of the above issues can be dealt with before you reach Retirement Age, helping to make your “Golden Years” actually golden!”

 

As you can see, being aware of RETIREMENT SECRETS AND YOUR PHOENIX, AZ INSURANCE certainly is not something you want to ignore if you are, in fact, preparing for Retirement!  As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

 To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

 (To learn more about this issue, research “Retirement Expectations”)

 

KNOWING THE FACTS AND YOUR GLENDALE, AZ AUTO INSURANCE

“Just the facts, ma’am.”  If you are old enough to remember Jack Webb as Sgt. Joe Friday on the old TV show DRAGNET, that statement is probably a part of your personal lexicon as it is mine.  Unfortunately, when it comes to modern-day sales people getting “just the facts” is, for the most part, something that you are not going to encounter.  That’s why KNOWING THE FACTS AND YOUR GLENDALE, AZ AUTO INSURANCE is something we all need to be concerned about.

 

“It is imperative that you have all the necessary facts when you purchase anything,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, pointed out, “and this is especially true of Insurance – including Auto Insurance.”

 

The best way to “get the facts,” of course, is to ask someone who is “in the know.”  And, when it comes to Auto Insurance, that person should be an Insurance Broker that you can trust.

 

“There are three things in particular that you should be aware of and understand when it comes to Auto Insurance,” Bivona offered, “and this is at the very least!”

 

Those three, in no particular order, are:

 

  • Are there any available Discounts? MOST drivers can, in fact, get Discounts. It is the responsibility of you, the Driver, to ask for possible Discounts.
  • Do I have enough Liability Coverage? Your broker can guide you to the right levels of coverage to protect you and your assets.

 

  • What does my Policy cover? Again, it is YOUR responsibility to ensure that you fully understand the Policy before you sign it. A good agent or broker will be happy to go over all the details until you are well-informed and comfortable before committing.

 

As you can see, being aware of KNOWING THE FACTS AND YOUR GLENDALE, AZ AUTO INSURANCE certainly is not something you want to ignore if you do, in fact, own and insure a car!  As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.

 

To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

 

(To learn more about this issue, research “Things to Know about Your Auto Insurance Policy”)

LIFE INSURANCE WHEN YOU ARE OVER 50 AND YOUR PEORIA, AZ INSURANCE BROKER

One of the advantages of getting older is what is referred to as “Senior Discounts.”  We get them for meals; our beverages; sometimes even the rooms we stay in.  One place where there aren’t a lot of Senior Discounts is in the realm of Life Insurance. However, there are a plethora of reasons that you might want to purchase Life Insurance once you reach, and or surpass, the age of fifty, and if you find yourself in that situation you will really want to know about LIFE INSURANCE WHEN YOU ARE OVER 50 AND YOUR PEORIA, AZ INSURANCE BROKER.

“There are a number of things to consider when you are Fifty-Plus and are looking for Life Insurance, Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, noted, “and, depending where your needs lie, will determine which company you may want to deal with.”

These “needs” that Bivona alludes to include, but are not limited to:

  • Policies that may be either Temporary or Permanent.
  • Guaranteed Acceptance regardless of your physical condition.
  • Policies that will deal with large, complex estate-planning needs.
  • Polices that can “build-up” funds that can be loaned out or used to pay Premiums.
  • Polices that can be offered with various benefits through relationships with the Insurance Companies and AARP.
  • Some Insurance Companies deal with individuals concerned about their BMI (Body Mass Index) or Type II Diabetes.
  • There are some Insurance Companies that will issue a Policy in as little as forty-eight hours – typically with a combination of Term Life Insurance and Accidental Death Insurance.
  • Some individuals hope to use their Life Insurance Policy to seek “Tax DeferredCapital Accumulation.

“Obviously,” Bivona pointed out, “no one company offers solutions to all of the needs mentioned above. As a result,” he continued, “it would truly behoove anyone over fifty who is looking for a Life Insurance Policy to contact a professional Insurance Broker to assist with their search for the Policy that will best meet their needs.”

As you can see, being aware of LIFE INSURANCE WHEN YOU ARE OVER 50 AND YOUR PEORIA, AZ INSURANCE BROKER certainly is not something you want to ignore if you do, in fact, need a Life Insurance Policy in the latter part of your life!  As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Life Insurance needs.

 

To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

 

(To learn more about this issue, research “Life Insurance When You Are Over Fifty”)

MORTGAGE LIFE INSURANCE AND YOUR PHOENIX, AZ INDEPENDENT BROKER

Have you ever heard the adage, “Most people are only three paychecks away from living on the street?”  The sentiment here, of course, is that due to the large amount of debt many of us have and the small amount of income we command, if we lost our jobs we would lose our homes and become street people.  While it is probably a little less extreme,  there is no doubt that if the primary wage earner in a family were to pass away, the family would be faced with a tremendous financial burden.  That’s why every loving and caring spouse and parent needs to be aware of MORTGAGE LIFE INSURANCE AND YOUR PHOENIX, AZ INDEPENDENT BROKER.

“According to a 2016 Barometer Study by Life Happens,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, pointed out, “one in three households would have immediate trouble paying living expenses if the primary wage earner died.  That’s why we frequently advise clients, and prospective clients, to purchase Life Insurance as a form of Mortgage Protection.”

A major question, of course, is “How much will this protection cost?”  As with most forms of Insurance, there are several factors that will affect cost, including but not limited to:

  • Age
  • Gender
  • The Death Benefit Amount
  • Health History
  • Smoking Status

 

“We have found,” Bivona shared somewhat philosophically, “that one of the factors that tends to make people shy away from considering Life Insurance for Mortgage Protection is the fact that they may have a pre-existing health condition. Actually, however,” he went on, “this may not be as much of a barrier as one might think.”Again, Bivona is correct. Following are several tips to consider when seeking Life Insurance if you do, in fact, have a pre-existing condition:

  •  Do your research regarding your condition and typical Premium Rates.
  • Work with a trustworthy Independent Agent.
  • Be truthful and up-front about your condition.
  • Get quotes from multiple providers.
  • Take the Medical Exam if you can, as rates are typically lower when one takes the Medical Exam.

As you can see, being aware of MORTGAGE LIFE INSURANCE AND YOUR PHOENIX, AZ INDEPENDENT BROKER certainly is not something you want to ignore if you do, in fact, own a home and have a mortgage! As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Insurance Coverage.

To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.

(To learn more about this issue, research “Life Insurance as Mortgage Protection”)