Insurance Insights ~ January 1998

Shopping: The Never Ending Search

All America loves a bargain! Let's face it -- we just love to shop! In our never ending quest to quelch that hunger for a bargain, we shop 'til we drop. Bargain hunting is a challenge no matter what you're shopping for. However, when you're shopping for insurance, it's even more challenging. We're programmed to shop for price, always looking for the least expensive product. Our motive: to squeeze every penny out of our dollar. And why not? We work hard for our money.

Shopping for insurance should be no different. To find the best insurance policy, we should be just as aggressive in our approach. One of the first things to realize is that not all insurance policies are alike. First, do your homework! You wouldn't go to the grocery store without a list of items, or you end up spending more on things you don't need. The same holds true with your insurance program. By taking a few extra minutes to familiarize yourself with your policies, you can make an itemized list of those things that you think you need. Your professional insurance agent can narrow it down even more, once you sit down and review your needs.

Secondly, be prepared! Having everything in front of you will be to your advantage. Don't expect your insurance quote to be very accurate if you don't furnish all the necessary information.

Thirdly, take your time! This may mean starting early. In order to be able to shop thoroughly and make an intelligent decision, you need to allow yourself enough time. Just like Christmas shopping, the longer you wait, the less time you're going to have to shop. For many of us, our insurance program is our only means of protecting our investment. In order to secure the best possible price and quality policy requires time and effort on your part.

A few additional shopping tips...

• Check the rating of the insurance company. Financial resources should be considered, for a strong and stable company.
• Does the insurance company offer consistent pricing, or do they fall prey to large price fluctuations from year to year?
• Has the company experienced steady growth? How long have they been in business?
• Consider the agency employees. Are they knowledgeable, experienced professionals?
• Do the agency owners invest in expanding their employee's knowledge, by taking advantage of educational opportunities, offering you a higher degree of expertise?
• Does the insurance company offer 24 hour emergency claims service? What is the quality of the service? Ask for references.

As consumers, we go to the ends of the earth to save a few dollars on all our purchases. It should be no different with our insurance portfolio. By following these simple suggestions, you should be well on your way to uncovering yet another great bargain. We would further suggest that you begin your shopping trip with an insurance comparison from our agency by calling either our Perkasie office (215-257-9171), our Souderton office (215-723-9805), or e-mailing us at info@gcwinsure.com.

A New Year's Resolution We Can All Do!

With all the pressing matters of life, like chauffeuring your kids back and forth between sports, planning for the holidays or wondering if there is enough money to pay this month's bills, thinking about writing a will or organizing your records can seem a tedious task that easily falls to the bottom of your priority list.

But consider the ramifications if you don't plan today! The state you live in has a plan for your estate (your children, your property, and your assets) should you die without your own plan. This may cause your family difficulty and expense which could be avoided by writing a will. You are making sure you have a say in what happens!

Writing a will is not a complex procedure, but it is sometimes advisable to seek the assistance of a qualified estate planner, attorney, or certified public accountant. If you choose to write your own will, either on your own or with the aid of computer software, it must comply with the law. Careful thought and attention now will allow you peace of mind that you are making the important decisions.

A will gives you power to:

• Designate who is to receive your assets upon your death. You have the opportunity to hand down family heirlooms or items of sentimental value.
• Select a guardian -- someone to whom you entrust your children's lives. Choose the person(s) you believe would be best suited for the job, then ask if they would be willing and able to accept the responsibility.
• Name an executor -- the "administrator" who is organized enough to handle all the paperwork upon your death. This person will handle everything from dealing with the insurance companies to paying off your debts and overseeing probate.
• Appoint a trustee -- the person who will understand and comply with your wishes for distributing your liquid assets. You may choose to name a person or a bank to handle this job.

You may also want to consider preparing a living will, in which you will state your wishes regarding life support in irreversibly terminal conditions. Preparation of a living will can be as easy as using computer software or obtaining the proper documents from many health care organizations. It may be a good idea to see that your primary care physician retain a copy in their file for you.

Protect your loved ones future by insuring for the unexpected. Contact your insurance agent to purchase life insurance so your family can remain in the world you have created for them. Nothing can replace you, but proper life insurance planning can help to make sure your family can maintain their current standard of living. Don't compound your family's grief by adding financial burdens to their worries.

Finally, tell immediate family members where they can locate your important documents or photocopy a personal record book for them. If you would like a "Personal Record Book" brochure from our agency, please e-mail your request to us at info@gcwinsure.com.

While death is a subject no one likes to discuss, it is a reality. Careful planning can help ease the stress on those you leave behind, thus allowing you to "care" for them even after you are gone.

INSURANCE INSIGHTS is an electronic newsletter published monthly by G. C. Weimer Associates, Inc. Information contained herein is accurate to the best of our knowledge and belief as of 1/1/98. If you have a topic of interest for a future issue, e-mail us at info@gcwinsure.com.

of 12/1/97. If you have a topic of interest for a future issue, e-mail us at info@gcwinsure.com.

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