Tools Insurance
Tools Insurance
Home Insurance Tips and Tools
Is Universal life insurance a wise tool for retiring early?
We have universal life ins policies. Was listening to a radio prgm that says they are bad “investments”. We want to retire early, so we need to have something other than IRA and 401 K to have money to spend at 55. Our agent says it is the only way to have “tax-free” money until we reach 59 1/2. What do you think.
I have to add that we don’t qualify for a roth IRA – Small business owner.
Insurance is never a wise investment tool. Just because you are a small business owner does not disqualify you for a Roth IRA. Combined AGI over $150k would.
You may want to look into other retirement type accounts. Non Qualified accounts for example can grow tax deferred and don’t always have the same age restrictions.
Since your agent told you that, get a new agent. He either doesn’t understand retirement planning or is running short on cash right now and needs a commission check.
Tool Insurance
Tool Insurance
Avalere and The SCAN Foundation Unveil First-of-its-Kind Long-Term Care Analytic Tool
WASHINGTON, April 15 /PRNewswire/ — Avalere Health, in partnership with The SCAN Foundation, today released an innovative web-based modeling tool that enables policymakers and the public to test the budgetary implications of a wide variety of federally run long-term care insurance programs.
Purchasing Tools Insurance in Van Coverage!
If you’re a tradesman or someone who keeps their equipment in your vehicle, have you considered purchasing tools insurance? In van insurance coverages, it might surprise you to find that many companies do not cover your tools, or do not cover your tools at a high enough level for you to replace them if the worst happens.
For this reason, it may be a good idea to purchase additional cover for possessions inside your vehicle. To ensure proper tools coverage in van, do the following:
1. Take pictures of everything you own, particularly very expensive fixtures and other specialized tools, and keep them with your policy. This ensures that if you do have an incident, you’ll know everything that needs replacing, you’ll be able to prove that you had it, and the company will be more obligated to cover it.
2. Make sure you have enough cover for your tools. Sometimes your tradesman tools are worth more than your vehicle, but the policy you want limits cover at too low a rate to properly insure your things. Discuss this problem with your insurance agent, and go to a different company if you must.
3. If you have multiple vans with equipment, ask for a bulk discount. Especially for a stable company with a good overall driving record, your insurer may be happy to discount your rates to make you happy.
4. Try to stay with the same company, but if you can’t get adequate cover, consider looking into using another company just to insure your tools. Later, though this separated policy may be cheaper for you than a combined one, it may be a good idea to look for a company that will cover you fully just to avoid the worry of separated insurance.
Tools insurance in van is not something to take lightly, or to take for granted. Protect your investment, and make sure you have plenty of coverage before your white vans hit the road.
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