INSURANCE REVIEW

Most people today secure insurance protection for their cars, home,jewelry,etc , but very often forget about themselves. We should all sit down and review our coverages - but do we ?

And if we do - do we do a complete , honest and thorough review ? Whether you are single ,separated ,divorced or living with someone special , insurance is imperative for the protection of yourself , family or someone special.The following table is a checklist that will help you decide if your financial program should be updated !

ARE YOU PROPERLY INSURED ?

AUTOMOBILE

Are your limits of liability high enough ?

Did you increase your uninsured motorist coverage for your protection ?

Is your policy rated correctly to get all credits to lower costs ?

Do you need medical payments ?

Do I need car rental coverage?

Do I need towing coverage ?

Is my car phone insured?

Should I raise my deductibles on comprehensive and collision coverages to reduce costs?

Should my kids have their policy?

HOMEOWNERS

Is your home insured to value ?

Do you have replacement cost coverage on dwelling and/or contents ?

Is your jewelry insured ?

Is your computer insured?

Do I need money coverage?

Did you consider raising your deductible to reduce your cost?

Is my liability limit high enough ?

Do I need appliance warranty coverage?

Have pets?

RENTERS

Do I have coverage ?

UMBRELLA LIABILITY

Do you have one ?

To what limit?

Is it written with the proper underlying limits ?

DOMESTIC WORKMEN'S COMPENSATION

Maryland law states - if you have an employee ( such as a maid and/or careprovider ) working in your home earning $50 in a 90 day period - you must provide workmen's compensation coverage for that person.

Do I have anyone working for me?

LIFE INSURANCE

Do I have it?

Is there adequate protection for you and you love ones ?

Is your current program cost efficient ?

When was the last time you compared rates ?

Did you know rates came down ?

What type of plan do you need - term , whole life ,universal ,variable and/or a combination of these types ?

Do I have the proper ownership and/or beneficiaries listed?

HEALTH INSURANCE

HMO's - Are they for me ?

Indemnity / Traditional / Point of Service - have you checked your deductibles , co-pays , and total out of pocket expenses ?

Can I go to the physician of my choice ?

Do I have the right program for me ?

Do I need the stand alone prescription drug program?

DISABILITY INSURANCE

Do I need it to provide loss of wage protection due to accident and/or sickness ?

areas to review

Length of benefit - How long do I receive benefits ?

Amount of benefit - Is the benefit enough to pay my on-going expenses ?

Waiting Period - Should it be increased to reduce premium or do you need benefits right away to pay expenses ?

Definition - What are the guidelines to be considered disabled to collect your proceeds ?

NURSING / HOME HEALTH CARE

Do I need it to preserve my assests ?

Does my current life insurance and/or annuity programs have a nursing/ home healthcare rider?

When was the last time you check your current policy to see if it has all the lastest bells and whistles?

Does it have the more liberal definitions to trigger the coverage?

Is the coverage high enough to cover your expenses?

Is adult daycare centers covered?

Does your program provide for respite care, assisted living facilities and /or bed reservation?

RETIREMENT

Should I have IRA , Roth IRA,TSA , cash value insurance and/or a mutual fund ?

Am I covered by a pension ?

For more information on this topic , contact Chuck Lurie , Pres.,El-Mar Associates, Inc at 410-265-7070 or by e-mail at sanchuck@erols.com or got to web site - www.elmarassociates.com