William Penn Life, 2003 (38. évfolyam, 1-12. szám)
2003-07-01 / 7. szám
THAT’S A QUESTION YOU MAY not have asked yourself very often, if ever. But, it’s one you should ask yourself at least once a year. We can’t stress enough the importance of regularly checking the beneficiaries listed on your life insurance policies. It is the only way to ensure that the people you want to receive the benefits of your life insurance are the ones who will receive it. Think about the changes that have occurred in your life since you purchased your life insurance. Getting married, having children, losing a loved one, getting divorced, getting remarried-all these life changes affect your responsibilities. Do the beneficiaries currently listed on your life insurance policies reflect such changes? If you think you need to update the beneficiaries listed on your po!icies--either primary or secondary beneficiaries-contact your WPA representative. Or, call our Home Office toll-free at 1-800-848-7366. MoneywiSe Weathering the storm Tips on preparing financially for weather-related disasters WE HAVE ALL SEEN THE IMAGES on the television and in the newspaper: a family sitting nervously on the roof of their flooded home; homes blown into pieces by tornadoes; people wondering how they will pick up the shattered and scattered pieces of their lives. We see these images and feel badly for those affected by the worst Mother Nature has to offer. Yet, how many of us have a false sense of security, believing we are safe from such disasters? After all, there's never been a tornado or flood in our neighborhood. Things like that just don't happen here. But, the truth is they can. And do. When they do, are you prepared for the financial havoc weather-related disasters can wreak? "Knowledge is a consumer's best policy, and it is critical that consumers educate themselves and review their insurance policies before a weather-related disaster strikes," says Diane Koken, commissioner of the Pennsylvania Insurance Department. " [Many families] have little or no insurance for certain weather catastrophes. Severe weather can strike at any time, and your best protection is to be aware and prepared." There are several steps to take to avoid catastrophic property losses: 1) Plan for a future claim. Take an inventory of your property by making a video of your home, including each room and its contents, noting model numbers and serial numbers. Store the information off the premises, such as with a relative or in a safe-deposit box. 2) Talk to an insurance agent about insurance options and possible gaps in your current coverage. 3) Learn the facts about insurance. Different policies are available for homeowners, renters and owners of condominiums. Talk to an agent about the types of coverage needed. 4) Learn the facts about flood insurance. A standard homeowner policy usually does not include flood protection. Coverage is available through the National Flood Insurance Program. If a weather-related disaster does occur, Commissioner Koken also cautioned consumers to be aware of home-repair con artists. "Consumers need to be prepared and fully apprised of their situation so they are not taken advantage of by unscrupulous businesses or people," Koken said. "Get more than one estimate for your loss, ask for and check references, and, most importantly, get everything in writing." Some insurance companies have disaster teams that are ready to go on site to help disaster victims protect their property from further loss and help facilitate claims payment. In certain situations, staff from your state's insurance department may also be on site at disaster recovery centers to assist consumers with their insurance questions and needs. ®0 Money Links For more information on preparing financially for weather-related disasters, log onto the website of your state’s insurance department, or check out the website of the National Flood Insurance Program: O www.fema.gov/nfip 4 William Peni Life, July 2003
