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Retirement Planning Tips For 2018

Monday, February 5th, 2018

People of all ages need to be planning and funding retirement. We can’t rely on Social Security to provide 100% of our retirement income. Here are a few tips to help you as you and your family plan out your retirement.

People Are Living Longer

You need to plan for the possibility you may live longer in retirement than you ever imagined. This may require adjustments in spending and life style.

Get out of Debt

Pay off expensive debts and then accelerate retirement savings in earnest.

Consider Life and Disability Insurance

Life insurance has been a part of estate planning in the United States for many years. Although life insurance does not need to be a part of every person’s estate plan, it can be useful, especially for parents of young children and those who support a spouse or a disabled adult or child. Life insurance provides real security for those you care about. Life benefits can provide financial security and resources for your family or loved ones after you are gone.

Disabling illness or injury is one of the leading causes of personal bankruptcy in the United States. Just like any other form of insurance, disability insurance (short term or long term) promises compensation in the eventuality of an injury or handicap that prevents the policy owner from continuing his/her normal occupation.

Get A Will

Without a will, the courts decide what happens to your assets and who is responsible for your kids. Many people put off making a Will for a variety of reasons; either because they do not think it is relevant to them at their particular stage of life, because they do not feel that it is necessary, or because it may force them to confront difficult issues.

Health Care Costs

Health care cost are going up, plan for 5% to 15% increases or more, over time. Also, people tend to utilize health services more in the last years of life. Your health should be considered your most vital investment. After all, it is hard to live a rich and fulfilling life while struggling with serious medical conditions. Having health insurance could help ensure you have the means of receiving the medical care necessary to preventing various illnesses that could negatively affect your quality of life.

Close to age 65?

You should find out how to apply for Medicare. You may need to sign up for Medicare close to your 65th birthday, even if you are still working.

To ensure that you enjoy protection no matter how your business grows or shifts positions, be sure to check with your insurance agent if you make any changes. Putting a little effort into your business insurance renewal can reap rewards in the form of better coverage and lower premiums. Established in 1976, Lakeview Insurance Agency serves individuals, families and businesses in Illinois, Wisconsin, Indiana and Michigan. Located in Chicago’s Lakeview neighborhood, our company is led by its founder Charles (Chuck) Stewart.

 

Chicago Life Insurance

Thursday, November 16th, 2017

So, you’ve decided to purchase life insurance. Well then, you have made a good decision! If you have dependents, you know that you must provide for them long after you are gone. Buying life insurance shouldn’t be a budget buster either. Take a look at the following options which can help you save big time!

We will give you free life insurance quotes. Naturally, you will want to talk to an agent. There are four types of life insurance plans from which you can choose: Term Life, Whole Life, Universal Life, and Variable Universal Life.

Term Life is the most affordable as it lets you lock in a fixed rate for the length of the policy [typically 10 or 20 years], but it does not have any cash accumulation. You are not able to borrow money from your Term Life policy.

Whole Life offers policy holders lifetime coverage, guaranteed level premiums, tax-deferred accumulation of cash values. In other words you can borrow off the policy if you need the cash.

Universal Life offers policy holders Lifetime coverage, flexible premiums and death benefits, tax-deferred accumulation of cash values. Rates are adjustable.

Providing for family members after your death is one of the most important reasons to include life insurance as part of your financial planning. You can receive your free life insurance quote by shopping online today; don’t delay

Established in 1976, Lakeview Insurance Agency serves individuals, families and businesses in Illinois, Wisconsin, Indiana and Michigan. Located in Chicago’s Lakeview neighborhood, our company is led by its founder Charles (Chuck) Stewart.

Auto Safety for Pets

Thursday, August 25th, 2016

dog-978598_1920Auto Insurance Update
Most cars are not designed for pets, but pets are often passengers in cars. Remember, your personal auto policy will not cover injury to your family pet, so it is very important to make sure your pets are secured and safe while driving.
1. Keep your pet off your lap while driving, it is not only a distraction, but unsafe for your pet.
2. Never leave your pet locked in a car when it is hot outside.
3. Be sure to take water with you for your pet. There are containers that are collapsible and spill proof.
4. Mats and liners help protect carpets and make cleanup easier.
5. Don’t allow your dog to put his/her face out the window.
6. Get your pet geared up for a long trip by taking him on a series of short drives first.
7. Keep your pets safe and secure in a well-ventilated crate or carrier.
8. Another option is a safety harness; these have become very popular in recent years.
9. For long trips, stop every couple of hours to let your pet take a break and have some water.

Some carmakers, including Subaru and Volvo, cater to animal lovers with special equipment packages. These save you the trouble of locating components separately, can be included in your financing, and are covered by the manufacturer warranty.

Established in 1976, Lakeview Insurance Agency serves individuals, families and businesses in Illinois, Wisconsin, Indiana and Michigan. Located in Chicago’s Lakeview neighborhood, our company is led by its founder Charles (Chuck) Stewart.

An independent insurance agency, we represent more than thirty top insurance carriers.

Is Your Teen Heading To College Soon?

Friday, August 12th, 2016

Bf college 32322Personal Insurance Update

This time of year, many recent high school graduates are preparing for their next phase of life.  Their plans may include heading off to college in another city or state.  One of the most important things they will need at school is something that doesn’t have to be packed at all – the right insurance coverage. Here is a list of some of the items you should consider before your child heads off to the University.

Insurance Coverage for College Students

Personal property – Depending on the value, items like clothes and computers should be covered under your homeowner’s policy.  However, if your student has an expensive computer, smart phone, tablet, jewelry, or other items, you might not be covered.  Most homeowner’s policies have limitations on items valued at over $1,200.  This will depend on your individual policy, so we recommend contacting your independent agent.

Auto – If your student is taking a car to college, make sure your agent knows of the address change.  This can actually save you money depending on the location.  As a full-time student, your child may qualify for a Good Student Discount (if he maintains a grade point average of 3.0 or higher).

Health insurance – Children can remain on your health policy until the age of 26.  Many colleges will offer student health insurance at a very reasonable cost.

Persona Liability – This coverage is provided anywhere the student goes, inside the U.S.A.  Your student would be covered under your current homeowner’s policy, or even a renter’s policy, if one is in place.

How To Reduce Slip And Fall Accidents At Your Business

Friday, March 11th, 2016

Business Safety

Slip and fall accidents are some of the most common accidents you can have as a business owner. Slips, trips, and falls constitute the majority of general industry accidents. They cause 15% of all accidental deaths, and are second only to motor vehicles as a cause of fatalities. You have customers, clients, vendors, employees, and family members on your premises every day.  “Slip and fall” is a term used for a personal injury case in which a person slips or trips and is injured on someone else’s property. These cases usually fall under the broader category of cases known as “premises liability” claims.  Slip and fall accidents usually occur on property owned or maintained by someone else, and the property owner may be held legally responsible.

In order to recover damages for a slip and fall injury sustained on another’s property, there must be a responsible party whose negligence caused the injury. However, most business insurance policies have premises liability coverage which allows for claim payment without the need to prove liability.

Slip And Fall Prevention At Your Business

Maintain all walkways and common areas.

Use anti-skid adhesive tape in high traffic areas.

Display wet floor signs when appropriate.

Keep all work areas, passageways, storerooms, and service areas clean and orderly.

Have proper lighting in parking lots and entrances.

Keep walk ways free of ice, snow, or other items that might cause someone to slip.

Have a procedure to deal with spills and ensure spills are reported and cleaned up immediately.

 

Are You Buying A Home?

Sunday, February 21st, 2016

Here are a few items to consider that will help keep your homeowner’s insurance down

Now may be a great time to buy a new home.  With market values and mortgage interest rates at incredible lows, it could be one of the best long-term investments you ever make.  Just keep in mind that your homeowner’s insurance is based on many different factors which you might want to consider before you buy a home.

Homeowner’s insurance

If you are buying an older home, have the plumbing and electrical systems been updated?

How close is the home to a fire station?

You may want to consider earthquake coverage. Neither earthquakes nor floods are covered under the standard home policy, but separate coverage can be purchased to cover both of these risks.

How old is the roof? Some insurers may limit coverage if there is existing unresolved roof damage.

Is the property located in a flood zone? If it is, you will need to purchase flood insurance to satisfy the mortgagee.

A quick call to our office can help you determine possible homeowner’s insurance costs for the home you are considering.

Artisan Contractors Insurance

Monday, February 8th, 2016

Artisan Contractors Need The Right Kind of Insurance

Construction projects depend on the special talent and skills of artisan contractors.  Artisan contractors are part of our thriving economy. For many artisan contractors, the most cost effective and efficient way to obtain property and liability coverage is with a Business owners Policy (BOP) especially tailored to their needs. Although marketed under a variety of names, these policies will typically have provisions similar to the BOP. In Addition a contractor will need workers’ Compensation insurance.

What is Workers’ Compensation?

Workers’ compensation insurance is insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties.

Who Are These Artisan Contractors?

Artisan contractors are usually small companies that offer specialty skills made up of one or more of the following:

  1. Landscaping
  2. Pool & Spa
  3. Finish Carpentry
  4. Framing
  5. HVAC
  6. Plumbing
  7. Masonry
  8. Lighting
  9. Concert work
  10. And more

What Are The Risks Associated With Artisan Contractors?

Artisan contractors have many different risks that can be covered by commercial insurance:

  • Commercial Auto
  • Loss of equipment & tools
  • Commercial general liability
  • Professional liability
  • Workers” compensation

2016 Personal Insurance Planning

Wednesday, January 27th, 2016

14900528_xxl2016 is here and now is the best time to think about your personal insurance program. When was the last time you reviewed your insurance coverage? The start of a New Year is a great time to review your personal insurance. Most of us know that major life events can make it necessary to update our insurance coverage. But did you know that even subtle changes can have an impact on your financial needs and plans?  Call our office today, and we can help you find the right combination of coverage and price.

Insurance resolutions for 2016

  • Review my insurance to make sure I have the right coverage
  • Take the time to read my insurance policies
  • Do I need to insure any Christmas gifts; jewelry, guns, ATV, boat, etc?
  • Do I have enough life insurance?
  • Get a quote for flood or earthquake insurance
  • Combine my auto and home insurance to save money
  • Complete a home inventory to ensure my property values are correct
  • Consider purchasing or increasing my umbrella coverage

Have I experienced any of these changes? It may impact your insurance

  • Bought or sold a car
  • Changed your marital status
  • Do you work from home?
  • Bought a boat, RV or ATV
  • Change of address
  • Welcomed a new baby into the family
  • Major inheritance
  • Have a new teen driver in the family

What Can You Do After The Storm?

Friday, January 15th, 2016

Recent Weather Has Caused Considerable Damage

It seems that we are experiencing a number of weather related issues; winter storms, flooding, hail damage and more. These storms have caused millions of dollars of damage to homes and businesses.  If you are thinking about flood insurance call our office, there is a waiting period after a flood.

Post Storm Planning

After sustaining storm damage, the first call most homeowners should make is to the insurance company and/or to our office. We receive a variety of questions and thought we might pass this information along to you. We are not providing specific limits and coverage terms, as each homeowner’s policy may be different.

  1. Trees have fallen on our house, garage, or other property. How much coverage do we have for the debris removal?   Generally, a homeowner’s policy provides limited coverage to remove fallen trees, due to a covered loss.
  2. What if trees on my property fall on my neighbor’s home? In most cases, homeowners are not liable for trees that have fallen on someone else’s property when a windstorm has caused it to fall.
  3. Your home sustains damage to its exterior due to a windstorm. What should you do until the adjuster arrives? The standard homeowner’s policy has a provision for making temporary repairs.  You can, and should, take necessary steps to protect property from further damage.  You may have tarps installed on the roof, siding, or broken windows to protect the interior from water damage.  A contractor may be hired to complete these repairs. These costs are covered.
  4. A storm has caused a general power outage in the area, and has affected the homeowner’s electricity for an undetermined amount of time. Is the cost of a motel covered under the insured’s homeowner’s policy?    Property must sustain direct physical damage causing the power outage first.
  5. Is there coverage for interior water damage to the home if it is the result of exterior damage caused by windstorm? Most homeowner’s policies will cover damage to the interior of a home if the home has first sustained damage to the exterior caused by windstorm or hail.
  6. A home sustains windstorm or hail damage to the siding, roofing, or both. What happens if the same color or style of the siding, or roofing material, is no longer available? If a reasonable match is available the insurance company will repair and/or replace the damage. If there is no reasonable match, then the insurance company may have to replace the entire siding or roof.

Please remember this information is to be considered a general overview. All claims will be settled per the terms of your individual policy. Call our office for more information.

 

Are The New Toys You Got For Christmas Covered Under Your Insurance?

Thursday, January 14th, 2016

Personal Insurance Update

The holidays are behind us, the tree is down, and the gifts are put away.  But wait, you may have a problem! In some cases, you may need to update your home insurance or auto insurance in order to maintain the proper coverage.  Many of us may have purchased gifts that increase our personal liability, and we thought it might be good to review these items. If you have any of these items, please call your agent today.

Gifts That You Will Need To Add To Your Personal Insurance Program

  • ATV’s, motorcycles, boats, and RV’s are not covered for damage or liability without an endorsement to your personal insurance policies.
  • If you bought an expensive ring, watch, or other item, it needs to be insured separately for loss and theft.
  • Drones are considered aircraft and there are many new laws that could impact your personal liability. Call your agent to review these issues.
  • The new car you purchased for your teenager will need to be added to your auto insurance policy.
  • Smart home technology. These systems may actually help reduce your homeowner’s insurance, especially if the technology includes alarm systems.
  • Guns and art may also need to be added to your policy if they are valued over a certain amount. Each policy is different, so call you agent.

If you added any other personal items of value you may want to review your personal property limits to make sure you are covered correctly.

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Office Contacts
Ph: 773-871-8000
Ph: 847-250-1500
Fax: 773-871-8062
info@lakeviewins.com

Lakeview Insurance Agency of Illinois, Ltd.
3438 N. Southport Ave.
Chicago, IL 60657 map
Walk-Ins Welcome

Lakeview Insurance Agency of Illinois, Ltd.
1167 Wilmette Avenue, Ste 201
Wilmette, IL 60091 map
By Appt Only

After-Hours Emergency Claims
Ph: 630-423-5587
bkonen@lakeviewins.com