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.
Newton Electrical Supply
This spring we are pleased to spotlight one of our long time clients, Newton Electrical Supply. We would like to congratulate them as they celebrate their 50th anniversary in the electrical and lighting business!
Newton Electrical has built a great reputation for superior customer service and quality products. They offer their customers a level of service over and above that of their competitors.
In addition to providing outstanding products and service, they are proud supporters of Habitat for Humanity’s ReStore. Their donations help build numerous homes in the surrounding communities.
Congratulation’s Newton Electrical and Happy 50th from your friends at Cleary Insurance. We wish you continued success!
Notice to Fireman’s Fund Policyholders
ACE Private Risk Services purchased the renewal rights for the Fireman’s Fund Personal Lines book of business.
Effective August 1, 2015 Fireman’s Fund policyholders will be converted to ACE Private Risk Services. ACE is a leader in financial strength among High Net Worth insurance carriers.
ACE Private Risk Services was created from a renewal rights conversion of the Atlantic Mutual business. ACE Group has completed over 10 similar transactions in the last five years alone, and is well prepared to convert the Fireman’s Fund business.
The strength, scope, and expertise of the combined teams will offer clients in all facets, including underwriting, claims, service, and risk consulting.
The vast majority of our Fireman’s Fund clients will receive replacement policy offers from ACE Private Risk Services at their next renewal.
If you have any questions or concerns regarding this change, please reach out to your Account Executive for assistance.
Life Insurance Choices
Protecting your family with the right amount and right type of life insurance is an important responsibility. The first step is to determine how much life insurance you need to fully protect your loved ones. Once you know how much you need, the next step is to decide what type of coverage is right for you.
There are two basic types of life insurance to choose from:
- Permanent insurance offers lifetime protection, which means that your beneficiaries will receive a death benefit no matter how long you live. Whole life insurance is one type of permanent coverage that also accumulates guaranteed cash value which can be used to help address life’s opportunities and challenges. For example, people may buy homes because they need places to live. However, during the latter part of their lives, the equity in their homes may help them address other financial needs, such as helping to pay for their children’s college educations or providing additional funds for retirement.
- Term insurance provides temporary coverage for a specific period of time and only offers death benefit protection. Consequently, the initial premiums for term insurance may be lower than for a comparable amount of permanent coverage. In addition, there is no cash value component with term life insurance.
Many people find that a combination of both permanent and term coverage helps provide the protection and accumulation they need, at a price they can afford.
Douglas W. Greene CFP® CLU®
101 Federal Street, Suite 800 | Boston, MA 02110
Phone 617-305-0360 | Cell 781-640-5718 | Fax 617-723-7275