Insurance Insights: The Cleary Insurance Blog
The Cleary Insurance blog covers insurance, risk management, and financial planning for New England businesses and individuals. Our team of licensed advisors and specialists publishes regular articles on commercial and personal coverage, employee benefits, life and financial planning, and insurance compliance. Browse recent articles below, or use the category filters to find topics relevant to your business or personal situation.
5 Things Millennials Should Know About Life Insurance
Regardless of how well prepared you think you are for adult responsibilities, there is always room for improvement – especially when it comes to life insurance. For millennials, life insurance may not feel like a totally immediate concern; however, it is the type of insurance that is too often underestimated and even more complicated than many people anticipate.
Whether or not you think you need it, it’s time to prioritize arranging your coverage. But we know this can be a confusing process, so we’re here to make it easier.
Below are five things that all millennials should understand about life insurance:
- Life insurance can help family avoid bankruptcy. Life insurance is often thought of as money that will be inherited from a parent or guardian once they pass. However, life insurance might also help in covering the expenses that would normally fall to those who are responsible for making arrangements. You could look here for more information.
- Student loans don’t disappear. Believe it or not, your loans don’t go away if you die. If you have Federal student loans, your loans will be discharged and your family will not be responsible for your debt; however, private loans will be inherited by your family. The last thing your family needs are debt collectors harassing them in their moment of grief.
- Life insurance is cheaper the younger you are. At this age, you can buy a quality life insurance policy for less than the cost of a commuter pass – especially if you don’t have big expenses to cover after you’ve died. As you get older and your health risks increase, you’ll pay more.
- Life insurance may be part of your employee benefits. Take some time to assess your benefits package because many employers offers life insurance as part of it. That said, if you plan to switch jobs in the next few years, it will be worthwhile to obtain an individual policy as well.
- There are many different types of life insurances to consider. Millennials should know that there is not one type fits all when it comes to life insurance. At Cleary, we offer a variety of categories under life insurance. These include, Whole Life Insurance, Term Life Insurance, Disability Insurance, Long Term Care, Key Employee Insurance and Buy Sell Insurance.
We are here to answer your questions. Contact us at any time, and we will be happy to assist you.
Questions to ask yourself when assessing your personal insurance needs
In light of the recent natural disasters happening around the globe, we are unfortunately reminded of the importance of obtaining proper personal insurance. If you are a homeowner, it is pertinent to routinely assess your personal insurance policy’s coverage. Unforeseen events (knock on wood) happen, and at that time you will be relieved of one less stress with the proper policy.
Personal insurance can range from home to auto, and rental to expensive items like jewelry and electronics. If you have something of value that is not yet covered by insurance, there is no harm in learning about your options.
We’re here to help with the legwork. Below are a few questions you can ask yourself when evaluating your personal insurance policy.
- How much coverage is enough for my home?
- What would it cost to replace my belongings?
- Do I need or have reimbursement for additional living expenses if I can’t live in my home due to loss?
- How much would it cost to repair the inside of my home if it were damaged?
- Should I get insurance in the case of natural disasters (i.e. flood, earthquake, hurricane, etc.)?
The goal of personal insurance is to guarantee your family is secure, financially and emotionally. At Cleary, we believe a solid insurance policy is a necessary step in order for your family to live life to the fullest. Contact us with any questions.
3 Tips for Building your Startup
The first step is to come up with your business idea – now it’s time to build! In order for your new startup to be a success, you need spunk, determination and a strategy.
But where to begin?
From product, to employees, to clients, the responsibility can be overwhelming. We’ve put together a few of our tried-and-true tips to help you begin to successfully build your startup.
Networking is key
Identify your professional community and engage with it. Nowadays, you can successfully and efficiently network via social media platforms like LinkedIn. While this is a manageable day-to-day tool, we also suggest taking advantage of professional networking events for face-to-face interaction.
Networking also entails meeting the right people who can help you launch your business. The benefit of having strong connections is that they can turn into powerful allies.
When you interact with people who are already running a successful business, you may be able to gain a better understanding of the funds and number of shares to authorize that can satisfy investors, and you can offer to your future employees.
Find a balance
A startup is very demanding and can eat up the bulk of your time; however, it is important for you to give yourself (and your employees) a break. There is a reason Google’s offices have Ping-Pong tables, basketball courts and rock climbing walls. These activities help people expand there minds and think outside the box.
Moreover, bonding with employees outside the office can be essential to a company’s success. Mutual respect outside the office will transfer to exist inside the office and ensure that everyone feels safe in the work environment.
Ask questions
Even though you’re the boss, don’t feel like you need to have all the answers right away. Ask questions to people you trust.
People love to share their own experiences. Particularly at Cleary, we are happy to help with your startup questions and provide information about the various types of coverage that would be most beneficial for you.