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Your Smart Phone Can Make Your Insurance Plans Smarter

| January 01, 2019

It seems like there’s an app for everything these days. Insurance is no exception.

With a helpful app, you can enhance your insurance coverage with additional features and convenience. Using the right app can keep your policies organized and allow you to prepare for situations that require claims.

For example, do you have an evacuation plan in place that your family can use if disaster strikes? An app can help you plan ahead so everyone knows what to do and where to go during a natural catastrophe.

Develop the plan in your app, then share it with family and friends. Preloaded checklists and preparation steps offer guided tools to assist you.

An insurance app can also keep all your policy and carrier information organized and easily accessible. If you need to file a claim, use simple guides to walk you through the process and track your progress.

As with most apps, a host of options is available. The Insurance Information Institute recommends the Know.

Your Plan mobile app, which offers disaster preparation. This award-winning app allows you to use premade lists or create your own, make notes, and share these digital documents with others.

Your insurance provider may also offer an app specific to your coverage. Common features for these apps include digital insurance ID cards, virtual assistance, and bill pay options.

Check with your agent to find out whether you can download a company-specific app or another recommended app to make your insurance plan even smarter.

Can You Become a Millionaire by Brown-Bagging It?

Eating out during the work or school day is undeniably convenient. There’s no scrounging in the cupboards for something to prepare, searching for forks when you forgot yours at home, or eating cold spaghetti when the office microwave is out of order.

But what’s better than convenience? Keeping money in your wallet.

The fact that packing lunch is cheaper than buying lunch isn’t surprising.

What is surprising is just how much money you can save by brown-bagging it. In fact, some simple math might be enough to convince you to do away with takeout lunches permanently.

Let’s say your preferred takeout lunch is a deli sandwich with a drink. With taxes, your total is about $10. If that’s your lunch choice five days out of seven, you’re spending $50 a week, $200 a month, $2,600 each year.

What if you make that same sandwich at home? Maybe the ingredients (a loaf of bread, cheese, and sliced meat) cost you $15 up front, and they make about five sandwiches. Now your cost is $3 per sandwich, for a total of $15 a week, $60 a month, $780 a year. That’s a yearly savings of $1,820!

There’s another kind of savings that comes with bringing your own lunch: calories. While how many calories you can save depends on what you choose to bring, home-cooked meals are typically more healthful than takeout is.

No, this lunch switch won’t make you a millionaire.

Still, with fewer calories and lower cost, all these savings might make that brown bag look more enticing.


General Liability vs. Professional Liability: What’s the Difference?

Business professionals bear the burden of responsibility in two distinct arenas: general liability and professional liability. Both types of coverage are necessary to secure sufficient protection for your business. Here’s the difference:

General liability offers protection against costs associated with property damage, medical expenses, settlements, and slander.

For example, if a customer comes into your store, slips, falls, and sues your business for his medical costs, your general liability insurance will pay for these expenses. Another general liability situation would be a contractor who causes damage to a client’s home and is sued for repair costs.

Professional liability protects your business against claims that you did not do your job properly. In other words, any time you offer a professional opinion or perform a duty, you are professionally liable for the results and are vulnerable to lawsuits.

For example, an accountant who offers tax advice might be sued by a client who loses money after taking that advice. Another company might be sued after failing to file important documents appropriately.

Professional liability insurance is also called Malpractice Insurance and Errors and Omissions Insurance. When business owners hear these terms, they may assume this coverage is necessary only for doctors and similar professions. However, even an honest clerical mistake can be considered an error in professional services and result in a lawsuit.

To fully protect your business, consider holding both types of policies. Your insurance agent can help you determine the coverage that is best for your operations.


Worth Reading

How to Be Better at Parties

Jen Doll

New York Times.com

The next time you’re at a party, keep a close eye on the person who hangs up your coat. They may be one of the most prepared guests in the room. As this article describes, it can be hard to be a good party guest. Giving yourself a job, such as coat checker, can help. This article gives step-by-step instructions about how you can excel at every stage of a party, from preparation to departure. More: https://tinyurl.com/worthread119-1


3 Physiological Ways to Become a Morning Person


A few lifestyle adjustments can enhance your ability to work in the morning. In this video, neuroscientist Dr. Tara Swart identifies things you can do to become a morning person. People often wake up thirsty, so keep a glass of water by your bed. Drink it when you first wake up. Go to bed earlier so you can wake up earlier. Exercise in the morning to boost your productivity. More: https://tinyurl.com/worthread119-2


Forget Budgeting to Death – Get Ahead with a Side Hustle You Won’t Hate

Casey Bond

HuffPost US

Balancing your budget sheet isn’t just about eliminating expenses. It’s also a matter of increasing your revenue streams. This article outlines ways you can use your hobbies, your home, and your non-work hours to generate more income. This isn’t just about Uber or Airbnb. Consider offering to watch people’s pets. Purchase items at yard sales that you can resell, or see whether anyone wants to buy those items you keep meaning to sort through. More: https://tinyurl.com/worthread119-3


Changing Your Life Insurance Beneficiary

If you have dependents, such as children or a nonworking spouse, you probably have a life insurance policy. We hope you do. But it is important to remember that as your life circumstances change, your policy needs to change as well.

When you purchased a life insurance policy, you named at least one beneficiary (the person or people who will receive the proceeds of the policy in the event of your death, usually a spouse, child, or another relative for whom you would like to provide).

While you chose the amount of the life insurance benefits and the beneficiary when you purchased the policy, you may be able to alter them during your lifetime, depending on the designation type you chose at the time of policy issuance.

Specifically, when you purchased your policy, you probably chose the type of beneficiary designation: revocable or irrevocable. A revocable designation allows you to change beneficiaries after the policy is in force, while an irrevocable designation does not allow you to do so without the consent of the beneficiary. Most policies have a revocable beneficiary designation.

Why would you want to change your beneficiary designation? A variety of circumstances can warrant this action.

You might want to change a beneficiary if the life circumstances of the person or people you support have changed.

Perhaps you have had a child or adopted one. Perhaps someone in your family has died, and you do not need to support that person (or you need to support that person’s children). Perhaps you have divorced. Perhaps a child has reached adulthood and no longer needs your support.

Because there are so many variables that can affect your policy, it is a good idea to review your personal circumstances each year to determine whether a change needs to be made.

If it does, changing your beneficiary designation is usually an easy task. Simply contact the insurance company and ask how to proceed.


Don’t Dump Your Fitness Resolution

You’ve made a decision to be as fit as you can be. Whether you’re just getting started
or you are continuing with a healthy fitness routine, keep a few key rules in mind.

Eat healthy: Avoid sugars, include proteins in every meal, reduce carbohydrates, eat plenty of fruits and vegetables, and keep processed foods to a minimum.

Exercise: Whether it’s dancing, walking, or playing a sport, pursue a vigorous activity that raises your heart rate at least every other day for at least 30 minutes each time. And remember, while exercise is good for the heart and strengthening muscle, no amount of exercise can undo the effects of a poor diet.

Get a good night’s sleep: Prepare your brain for sleep with a restful activity or quiet music. Avoid screens before bedtime.

Get a checkup: Be sure you’re healthy before you begin any fitness program. Ask your health care provider what your target heart rate should be and aim for it when you work out.

Listen to your body: “No pain, no gain” can be a dangerous maxim. Pain is your body’s way of telling you that something is wrong. If you experience pain, don’t simply ignore it. Check it out!


How to Get Your Pet Shed Under Control

Your dog may love the time you spend scratching behind his ears, but cleaning up after he sheds isn’t fun. The fact is, you may not ever completely rid your living area of fur, but you can control it.

Bathe and brush your dog regularly to remove loose fur. Use a brush that’s best suited for your dog’s coat. Anti-shedding shampoo may also help. Many factors, such as your dog’s breed and how much time is spent outside, impact how often you should bathe her.

Ask your veterinarian about how you can keep your pet clean without removing the essential oils from her fur or causing her skin to become dry. Adding moisture to your pet’s food may also help reduce shedding. Green beans and carrots are healthy options. Remember, though, part of living with a dog means living with dog fur. Keep a lint roller handy, and don’t be embarrassed to cover the couch with sheets.


Worth Quoting

This month, some famous quotes about millionaires:

I never wanted to be a millionaire. I just wanted to live like one.

Walter Hagen

You can’t tell a millionaire’s son from a billionaire’s.

Vance Packard

How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.

Robert G. Allen

In my experience, it is rarer to find a really happy person in a circle of millionaires than among vagabonds.

Thor Heyerdahl

Millionaires are risk-takers, and they don’t become millionaires until they’re 40 or 50. It’s a slower process than a lot of people think.

Thomas J. Stanley

If we could sell our experiences for what they cost us, we’d all be millionaires.

Pauline Phillips